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RELATED PARTY TRANSACTIONS
 12 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

5. RELATED PARTY TRANSACTIONS

 

DUE TO RELATED PARTIES

 

For the fiscal year ended March 31, 2025 we accrued unpaid fees of $68,250 owed to our non-employee directors.

 

As a result of entering into separation agreements with two former executives, we paid out accrued vacation totaling $27,126 during the fiscal year ended March 31, 2025. These amounts were previously recorded in the "due to related parties" account. In addition, pursuant to the terms of their respective Executive Employment Agreements, we accrued a total of $809,782 for cash severance and COBRA payments, which are payable monthly over 12-month periods beginning on July 1, 2024, and October 15, 2024, respectively.

 

Separately, in connection with a reduction in force in August 2024, we paid out an additional $13,419 in accrued vacation, which was also previously recorded in the "due to related parties" account.

 

Amounts due to related parties were comprised of the following items:

        
   March 31,  
2025		   March 31,
2024		 
Accrued Board fees  $68,250   $68,250 
Accrued vacation to all employees   165,029    167,973 
Accrued separation expenses   346,286    310,211 
Total due to related parties  $579,565   $546,434