| SCHEDULE OF BONDS PAYABLE LIABILITY |
The
following tables summarize the Company’s bonds payable liability:
SCHEDULE OF BONDS PAYABLE LIABILITY
| | |
June 30, 2026 | | |
March 31, 2026 | |
| Gross bonds payable | |
| | | |
| | |
| NJEDA Bonds - Series A Notes | |
$ | 850,000 | | |
$ | 850,000 | |
| Less: Current portion of bonds payable (prior to deduction of bond offering costs) | |
| (150,000 | ) | |
| (150,000 | ) |
| Long-term portion of bonds payable (prior to deduction of bond offering costs) | |
$ | 700,000 | | |
$ | 700,000 | |
| | |
| | | |
| | |
| Bond offering costs | |
$ | 354,454 | | |
$ | 354,454 | |
| Less: Accumulated amortization | |
| (295,379 | ) | |
| (291,835 | ) |
| Bond offering costs, net | |
$ | 59,075 | | |
$ | 62,619 | |
| | |
| | | |
| | |
| Current portion of bonds payable - net of bond offering costs | |
| | | |
| | |
| Current portions of bonds payable | |
$ | 150,000 | | |
$ | 150,000 | |
| Less: Bonds offering costs to be amortized in the next 12 months | |
| (14,178 | ) | |
| (14,178 | ) |
| Current portion of bonds payable, net of bond offering costs | |
$ | 135,822 | | |
$ | 135,822 | |
| | |
| | | |
| | |
| Long term portion of bonds payable - net of bond offering costs | |
| | | |
| | |
| Long term portion of bonds payable | |
$ | 700,000 | | |
$ | 700,000 | |
| Less: Bond offering costs to be amortized subsequent to the next 12 months | |
| (44,897 | ) | |
| (48,441 | ) |
| Long term portion of bonds payable, net of bond offering costs | |
$ | 655,103 | | |
$ | 651,559 | |
|
| SCHEDULE OF MATURITIES OF BONDS |
Maturities
of bonds for the next five years are as follows:
SCHEDULE OF MATURITIES OF BONDS
| Years ending March 31, | |
Amount | |
| Remainder of 2027 | |
$ | 150,000 | |
| 2028 | |
| 160,000 | |
| 2029 | |
| 170,000 | |
| 2030 | |
| 180,000 | |
| 2031 | |
| 190,000 | |
| Total | |
$ | 850,000 | |
|