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PROPERTY AND EQUIPMENT | 3 Months Ended
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Jun. 30, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 6 – PROPERTY AND EQUIPMENT A summary of property and equipment is as follows: SUMMARY OF PROPERTY AND EQUIPMENT
|  | USEFUL |  |  | June 30, |  |  | March 31, |
|  | LIFE |  |  | 2023 |  |  | 2023 |
Computer and office equipment |  | 5-7 years |  |  | $ | 497,000 |  |  | $ | 497,000 |
Furniture and fixtures |  | 7 years |  |  |  | 111,000 |  |  |  | 111,000 |
Warehouse equipment |  | 7 years |  |  |  | 251,000 |  |  |  | 251,000 |
Molds and tooling |  | 3-5 years |  |  |  | 2,202,000 |  |  |  | 2,160,000 |
Property and equipment, gross |  |  |  |  |  | 3,061,000 |  |  |  | 3,019,000 |
Less: Accumulated depreciation |  |  |  |  |  | 2,569,000 |  |  |  | 2,386,000 |
Property and equipment, net |  |  |  |  | $ | 492,000 |  |  | $ | 633,000 |
Depreciation expense for the three months ended June 30, 2023 and 2022 was approximately $183,000 and $58,000, respectively. During the first quarter ended June 30, 2023, we decided not to renew our lease on our California warehouse facility and have opted to transfer our logistics operations to a third-party logistics company and all assets located at this facility will be sold or otherwise disposed of by the end of August 2023. As a result of these operational decisions, we recognized accelerated depreciation expense on certain assets to be sold in the amount of approximately $122,000 to reflect their adjusted fair market value as of June 30, 2023. This acceleration accounted for the majority of the increase in depreciation expense in the three months ended June 30, 2023.

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