LOANS PAYABLE |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
| LOANS PAYABLE | 7. LOANS PAYABLE
Loan activity consisted of the following:
On June 5, 2020, the Company received a $142,400 loan from the U.S. Small Business Administration. The loan is secured by all tangible and intangible personal property of VTU, and bears interest of 3.75% per annum and requires monthly payments of $646 starting in June 2021 with a maturity of 30 years.
In the year ended March 31 2025, the Company incurred and additional interest expenses of $6,515 (March 31, 2024 - $) regarding the financing of the Directors and Officers insurance payment (“D&O”).
In the year ended March 31 2025, the Company did not incur ay interest expenses (March 31, 2024 - $5,105) regarding the lease payments. |
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