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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET

2. PROPERTY AND EQUIPMENT, NET

 

Property and equipment, net, consist of the following:

        
   March 31, 2025   March 31, 2024 
Furniture and office equipment, at cost  $1,112,648   $1,112,648 
Less: disposals   (350,670)   – 
Leasehold improvements   893,131    893,131 
Gross property and equipment   1,655,109    2,005,779 
Less: accumulated depreciation   (978,889)   (990,550)
Fixed assets, net  $676,220   $1,015,229 

  

Depreciation expense for the fiscal years ended March 31, 2025 and 2024 was $339,009 and $358,507, respectively. During the year ended March 31, 2025, the Company disposed of fully depreciated property and equipment with an original cost of $350,670. These disposals had no impact on net income, as the assets were fully depreciated at the time of removal. The reduction in gross property and equipment reflects the Company’s ongoing review and retirement of inactive or obsolete assets.