v3.25.2
Income Tax (Tables)
 3 Months Ended
Jun. 30, 2025
Income Tax [Abstract]  
Schedule of Components of the Provision for Income Taxes Significant components of the provision for income taxes are as follows:
   For the Three Months Ended
June 30,		 
   2025   2024 
Current        
Federal  $(3,108)  $53,738 
State   4,554    46,669 
City   (8,844)   31,669 
Deferred          
Federal   
—
    (38,000)
State   
—
    (12,000)
City   
—
    (9,000)
Foreign   (42,861)   (631)
Total  $(50,259)  $72,445 
   For the Three Months Ended
June 30,		 
   2025   2024 
Current        
Federal  $(3,108)  $53,738 
State   4,554    46,669 
City   (8,844)   31,669 
Deferred          
Federal   
—
    (38,000)
State   
—
    (12,000)
City   
—
    (9,000)
Total  $(7,398)  $73,076 
   For the Three Months Ended
June 30,		 
   2025   2024 
Current        
Federal  $
—
   $
—
 
State   
—
    
—
 
City   
—
    
—
 
Deferred          
Federal   (24,261)   (357)
State   (18,600)   (274)
City   
—
    
—
 
Total  $(42,861)  $(631)
Schedule of Provision for Income Taxes

The provision (benefit) for income taxes   is based on the following pretax loss:

 

   For the Three Months Ended
June 30,		 
   2025   2024 
U.S.  $(1,894,156)  $(99,838)
Canada   (164,751)   (7,225)
Total  $(2,058,907)  $(107,063)
Schedule of Reconciles to the Company’s Effective Tax Rate

The following table reconciles the Company’s effective tax rate:

 

   For the Three Months Ended
June 30,		 
   2025   2024 
Pre-tax book loss  $(2,058,907)  $(107,063)
Federal Statutory rate   21.0%   21.0%
State income tax rate, net of federal income tax benefit   6.8%   (11.4)%
City income tax rate, net of federal income tax benefit   6.1%   (0.5)%
Foreign statutory rate   0.1%   (0.1)%
Permanent differences   1.9%   (76.8)%
Valuation allowance of deferred tax assets   (33.4)%   0.1%
Return to project adjustment   (0.1)%   
—
 
Total   2.4%   (67.7)%
Schedule of Deferred Tax Assets Significant components of DTAs (DTLs), net are as follows:
   As of
June 30,
2025		   As of
March 31,
2025		 
Net operating loss carry forwards  $738,792   $1,506,378 
Inventory reserve   431,000    410,000 
Operating lease liabilities   3,349,000    4,837,000 
Amortization difference   21,000    10,000 
Total deferred tax assets (DTAs)   4,539,792    6,763,378 
Valuation allowance   (974,000)   (1,714,000)
Deferred tax assets, net of valuation allowance  $3,565,792   $5,049,378 
           
Accumulated depreciation   (325,705)   (460,395)
Operating lease right-of-use assets   (3,087,000)   (4,494,000)
Total deferred tax liabilities (DTLs)   (3,412,705)   (4,954,395)
Deferred tax assets, net  $153,087   $94,983 
           
Deferred tax assets (liabilities) – U.S., net  $
—
   $
—
 
Deferred tax assets – Canada, net  $153,087    94,983