v3.22.4

REVENUE | 9 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE | NOTE 5 – REVENUE The Company recognizes as revenues the amount of the transaction price that is allocated to the respective performance obligation when the performance obligation is satisfied or as it is satisfied. Live event revenue primarily includes ticket and beverage sales before and during the live events. Sponsorship revenue is also recognized when the live event takes place. Any revenue received for events that have yet to take place are recorded in deferred revenue. Gym revenue comprises primarily of membership dues and subscription. Other gym revenue includes personal training, group fitness and meal planning. Information about the Company’s net sales by revenue type for the three and nine months ended December 31, 2022 and 2021 are as follows:
Schedule of net sales by revenue type |  |  |  |  |  |
|  | For the three months ended |
|  | December 31, |  |  | December 31, |
|  |  | 2022 (Unaudited) |  |  |  | 2021 (Unaudited) |
Live events |  | $ | 77,847 |  |  | $ | 263,782 |
|  | For the nine months ended |
|  | December 31, |  |  | December 31, |
|  | 2022 (Unaudited) |  |  | 2021 (Unaudited) |
Live events |  | $ | 576,138 |  |  | $ | 782,544 |
All revenue is derived in the United States. Information about the Company’s deferred revenue for the nine months ended December 31, 2022 and 2021 are as follows:
Schedule of deferred revenue |  |  |  |  |  |
|  | As of |
|  | December 31, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Balance at beginning of fiscal year |  | $ | 104,704 |  |  | $ | 119,504 |
Deferral of revenue |  |  | 559,775 |  |  |  | 711,281 |
Recognition of unearned revenue |  |  | (656,321 | ) |  |  | (766,049 | )
Balance at December 31 |  | $ | 8,158 |  |  | $ | 64,736 |
Deferred revenue for the periods ended December 31, 2022 and March 31, 2022 was $8,158 and $104,704, respectively. This deferred revenue represents deferred gym memberships fees and tickets pre-sold for live events, which pertain to performance obligations not realized as of December 31, 2022 and March 31, 2022. Revenue recognized for the nine months ended December 31, 2022 and 2021, which was included in the unearned revenue liability balance at the beginning of the year, was $656,321 and $766,049, respectively. This revenue represents gym membership fees and live event sales for performance obligations met in the nine months ended December 31, 2022 and 2021.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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