v3.25.2
Commitments and Contingencies
 12 Months Ended
Mar. 31, 2025
Commitments and Contingencies [Abstract]  
Commitments and Contingencies

7. Commitments and Contingencies

 

Other than two office leases both with a lease term of 3 years that the Company entered into in April 2023 (the “2023 Office Lease”) and in February 2025 (the “2025 Office Lease”) as described below, the Company did not have significant commitments, long-term obligations, or guarantees as of March 31, 2025.

 

Operating lease

 

The 2023 Office Lease has a remaining lease term of the operating lease of 1.1 years and discount rate used for the operating lease is 10.34%.

 

The 2025 Office Lease has a remaining lease term of the operating lease of 2.9 years and discount rate used for the operating lease is 7.7%.

 

During the years ended March 31, 2025 and 2024, the operating lease expense recognized was $127,946 and $121,980 respectively.

 

   2023
Office Lease		   2025
Office Lease		   Total 
2026   88,744    38,128    126,872 
2027   6,441    38,128    44,569 
2028   
—
    31,773    31,773 
Total future minimum lease payments  $95,185   $108,029   $203,214 
Less: imputed interest   (5,457)   (11,249)   (16,706)
Total operating lease liability  $89,728   $96,780   $186,508 
Less: operating lease liability – current   83,342    31,783    115,125 
Total operating lease liability – non current  $6,386   $64,997   $71,383 

 

Contingencies

 

The Company is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any such matter will have a material adverse effect on our business, financial position, cash flows or results of operations taken as a whole. As of March 31, 2025, the Company is not a party to any material legal or administrative proceedings.