| Schedule of Estimated Useful Lives |
Property and equipment are recorded at cost, less
accumulated depreciation. Depreciation is straight-line over the following estimated useful lives:
| Computer
Equipment | |
5 years | |
| Furniture
and Fixtures | |
7 years | |
| Machinery
and Equipment | |
3 – 7 years | |
| Office
Equipment | |
5 – 7 years | |
| Leasehold
Improvements | |
3 – 5 years | |
|
The estimated useful lives
for significant property and equipment categories are as follows:
| Computer Equipment | |
| 5 years | |
| Furniture and Fixtures | |
| 7 years | |
| Machinery and Equipment | |
| 3 – 7 years | |
| Office Equipment | |
| 5 – 7 years | |
| Leasehold Improvements | |
| 3 – 5 years | |
|
| Schedule of Intangible Assets Estimated Useful Lives |
Intangible assets include software, trademarks,
customer lists, and a website. Amortization is straight-line over the following estimated useful lives:
| Software | | 3 - 5 years | | | Trademarks | | Indefinite | | | Customer Lists | | 3 years | | | Website | | 3 years | |
|
The estimated useful lives
for significant intangible asset categories are as follows:
| Software | | 3 – 5 years | | Trademarks | | Indefinite | | Customer Lists | | 3 years | | Website | | 3 years |
|
| Schedule of Changes in Deferred Revenue |
|
For the fiscal years
ended March 31, 2025 and 2024, changes in deferred revenue were due to the following:
| | |
March 31,
2025 | | |
March 31,
2024 | |
| Beginning deferred revenue | |
$ | 1,850,342 | | |
$ | 1,044,249 | |
| Amounts deferred during the year | |
| 3,109,944 | | |
| 2,445,020 | |
| Less refunds | |
| (90,103 | ) | |
| (29,796 | ) |
| Less revenue recognized | |
| (3,100,627 | ) | |
| (1,609,131 | ) |
| Ending deferred revenue | |
$ | 1,769,556 | | |
$ | 1,850,342 | |
|
| Schedule of Deferred Revenue |
The following table summarizes deferred revenue
balances:
| | |
December 31, | | |
March 31, | |
| | |
2025 | | |
2025 | |
| Omni One | |
$ | 45,421 | | |
$ | 936,821 | |
| Omni One extended warranty | |
| 16,553 | | |
| - | |
| Omni Pro | |
| 449,635 | | |
| 451,545 | |
| Omni Arena | |
| 137,391 | | |
| 290,169 | |
| Omni Online | |
| 35,898 | | |
| 44,104 | |
| Omniverse credits | |
| 27,701 | | |
| 37,584 | |
| Omni Care subscriptions | |
| 14,667 | | |
| 9,333 | |
| Total deferred revenue | |
$ | 727,266 | | |
$ | 1,769,556 | |
|
Deferred revenue as of March 31,
2025 and 2024 consists of the following:
| | |
March 31,
2025 | | |
March 31,
2024 | |
| Omni One | |
$ | 936,821 | | |
$ | 1,113,649 | |
| Omni Pro units and accessories | |
| 451,545 | | |
| 455,974 | |
| Omni Arena | |
| 290,169 | | |
| 206,619 | |
| Omni Online | |
| 44,104 | | |
| — | |
| Omniverse Credits | |
| 37,584 | | |
| 18,767 | |
| Omni Care program | |
| 9,333 | | |
| 55,333 | |
| Total | |
$ | 1,769,556 | | |
$ | 1,850,342 | |
|