v3.22.4

PROPERTY AND EQUIPMENT | 9 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | NOTE 6 – PROPERTY AND EQUIPMENT Property and equipment, net, consisted of the following at December 31, 2022 and March 31, 2022:
Schedule of property and equipment |  |  |
|  | December 31, 2022 |  |  | March 31, 2022 |
Gym equipment |  | $ | – |  |  | $ | 229,821 |
Cages |  |  | 151,009 |  |  |  | 151,009 |
Event assets |  |  | 122,795 |  |  |  | 122,795 |
Furniture and fixtures |  |  | – |  |  |  | 19,366 |
Production truck gear |  |  | 11,740 |  |  |  | 11,740 |
Production equipment |  |  | 80,965 |  |  |  | 80,965 |
Venue lighting system |  |  | 38,266 |  |  |  | 38,266 |
Leasehold improvements |  |  | 4,452 |  |  |  | 126,851 |
Electronics hardware and software |  |  | 191,299 |  |  |  | 181,720 |
Trucks trailers and vehicles |  |  | 289,028 |  |  |  | 289,028 |
|  |  | 889,554 |  |  |  | 1,251,561 |
Less: accumulated depreciation |  |  | (361,304 | ) |  |  | (267,344 | )
|  | $ | 528,250 |  |  | $ | 984,217 |
Depreciation expense related to these assets for the three months ended December 31, 2022 and 2021 amounted to $66,015 and $76,523, respectively. Depreciation expense related to these assets for the nine months ended December 31, 2022 and 2021 amounted to $197,490 and $210,663, respectively. As of December 31, 2022 the Company has deemed the assets of One More Gym Birmingham LLC and One More Gym Tuscaloosa LLC to be impaired. The Company recorded a loss of $300,475 on the impairment.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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