Leases (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
|---|
| Presentation of leases for lessee [abstract] |
|
| Schedule of Annual Rent |
The annual rent as of March 31, 2026 is as follows:
|
|
To January 31, 2027 |
GBP 98,150 |
To January 31, 2028 |
GBP 103,056 |
To January 31, 2029 |
GBP 108,208 |
To January 31, 2030 |
GBP 17,853 |
To January 31, 2031 |
GBP 18,746 |
|
| Summary of Right of Use Assets Activity |
The following table summarizes our right-of-use assets activity for the BioCity and Shanghai lease for the years ended March 31, 2026, 2025 and 2024, respectively.
|
|
|
|
|
|
|
Office and Lab Leases |
|
Cost |
|
|
|
Balance at March 31, 2024 |
|
$ |
254,319 |
|
Additions |
|
|
181,641 |
|
Effects of currency translation |
|
|
(4,832 |
) |
Balance at March 31, 2025 |
|
$ |
431,128 |
|
Additions |
|
|
80,862 |
|
Effects of currency translation |
|
|
23,282 |
|
Balance at March 31, 2026 |
|
$ |
535,272 |
|
|
|
|
|
Accumulated amortization |
|
|
|
Balance at March 31, 2024 |
|
$ |
(48,229 |
) |
Amortization |
|
|
(76,784 |
) |
Effects of currency translation |
|
|
537 |
|
Balance at March 31, 2025 |
|
$ |
(124,476 |
) |
Amortization |
|
|
(77,787 |
) |
Effects of currency translation |
|
|
(5,628 |
) |
Balance at March 31, 2026 |
|
$ |
(207,891 |
) |
|
|
|
|
March 31, 2025 right-of-use assets, net |
|
$ |
306,652 |
|
March 31, 2026 right-of-use assets, net |
|
$ |
327,381 |
|
|
| Summary of Lease Liability Activity |
The following table summarizes the Company's lease liability activity for the BioCity lease and Shanghai lease for the years ended March 31, 2026, 2025 and 2024, respectively.
|
|
|
|
|
|
|
Total |
|
Balance as of March 31, 2024 |
|
$ |
224,300 |
|
Additions |
|
|
211,524 |
|
Deletions |
|
|
(32,510 |
) |
Payment of lease liabilities |
|
|
(100,089 |
) |
Interest expense on lease liabilities |
|
|
45,600 |
|
Effects of currency translation |
|
|
(4,289 |
) |
Balance as of March 31, 2025 |
|
$ |
344,536 |
|
Additions |
|
|
80,860 |
|
Deletions |
|
|
— |
|
Payment of lease liabilities |
|
|
(109,482 |
) |
Interest expense on lease liabilities |
|
|
51,875 |
|
Effects of currency translation |
|
|
18,121 |
|
Balance as of March 31, 2026 |
|
$ |
385,910 |
|
|
| Summary of Maturity of Lease Liabilities |
The following table summarizes the maturity of our lease liabilities as of March 31, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
March 31, 2025 |
|
Less than one year |
|
$ |
132,215 |
|
|
$ |
99,960 |
|
One to five years |
|
|
369,392 |
|
|
|
370,076 |
|
More than five years |
|
|
— |
|
|
|
— |
|
Total lease payments |
|
$ |
501,607 |
|
|
$ |
470,036 |
|
Less: imputed interest |
|
|
(115,697 |
) |
|
|
(125,500 |
) |
Lease Liabilities |
|
$ |
385,910 |
|
|
$ |
344,536 |
|
|