PROPERTY, PLANT AND EQUIPMENT, NET |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| PROPERTY, PLANT AND EQUIPMENT, NET | NOTE 10 - PROPERTY, PLANT AND EQUIPMENT, NET
In fiscal 2025 and 2024, we recorded depreciation expense of $2,087 and $1,746, respectively, in our cost of revenue. In fiscal 2025 and 2024, we recorded disposals with a book value of $1 and $23, respectively. We capitalize interest on borrowings during active construction period for major capital projects. Capitalized interest is added to the cost of the underlying assets and is amortized over the useful lives of the assets. Capitalized interest for the years ended March 31, 2025 and 2024 was $1 and $18, respectively. The Company also has an agreement to make additional equipment upgrades for a certain customer. We recognize new purchases as a fixed asset and billings for reimbursement from the customer as a contra-asset. Future depreciation of the asset will be offset directly by the amortization of the contra-asset on a net basis in the statement of operations. The amortization period will match the schedule of depreciation set forth under the fixed asset ledger. |
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