INTANGIBLE ASSETS NET |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| INTANGIBLE ASSETS, NET | NOTE 6 – INTANGIBLE ASSETS, NET
As of March 31, 2026 and 2025, no intangible assets were pledged. The customer-relationship intangible asset of $10,751,426 was acquired in the BW business combination in March 2025.
No intangible assets were purchased or disposed of during the years ended March 31, 2026 and 2025.
The Company recognized impairment of intangible assets of $3,225,428, $1,108,333 and nil for the years ended March 31, 2026, 2025 and 2024, respectively. The fiscal year 2026 impairment related to customer relationships arising from the acquisition of BW. The fiscal year 2025 impairment related to the proprietary technology acquired in the acquisition of 2Lab3.
Amortization expense was $2,150,285, $380,000 and $380,000 for the years ended March 31, 2026, 2025 and 2024, respectively.
Estimated future amortization expense is as follows as of March 31, 2026:
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