SUBSEQUENT EVENTS

3 Months Ended

Jun. 30, 2025

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 15 – SUBSEQUENT EVENTS

On July 1, 2025, the Company issued 52,500 shares related to vesting of restricted stock units (“RSUs”).

On July 1, 2025, pursuant to an employment letter, the Company issued 16,694 shares of restricted common stock to an employee valued at $12,000. The Company expensed $6,000 of the restricted common stock per quarter, for two consecutive quarters. The Company also issued 19,372 shares of restricted common stock to a board member for consulting compensation valued at $15,000 for the three months ending June 30, 2025.

On July 18, 2025, the Company converted 3,045,000 shares of Series A Preferred Stock to Common Stock on a share-for-share basis.

On July 29, 2025, the Company issued 367,850 shares of restricted common stock to four employees for performance bonuses fair valued at $289,130, all expensed on the date issued of July 20, 2025.

Enactment of Federal Tax Legislation

On July 2, 2025, subsequent to the end of the reporting period, Congress enacted the Taxpayer Fairness and Growth Act of 2025, which includes significant amendments to the Internal Revenue Code. Key provisions include:

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A reduction in the federal corporate income tax rate from 21% to 19%, effective for tax years beginning after January 1, 2026;

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Limitations on the deductibility of certain interest and R&D expenses;

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Modifications to the foreign-derived intangible income (“FDII “) and global intangible low-taxed income (“GILTI”) regimes.

The Company is currently evaluating the impact of the legislation on its consolidated financial statements, including deferred tax assets and liabilities. Because the enactment occurred after the end of the reporting period and before issuance of these financial statements, the effects have not been recognized in the accompanying condensed consolidated financial statements as of and for the period ended June 30, 2025, consistent with ASC 740 and ASC 855.

The Company expects the corporate rate reduction to have a favorable impact on its effective tax rate beginning in fiscal 2027. However, remeasurement of deferred tax balances and the application of new limitations may result in non-cash tax charges in future periods. The Company will continue evaluating the impact and recognize any required adjustments in the period of enactment.