v3.26.1
GOODWILL
 12 Months Ended
Mar. 31, 2026
GOODWILL  
GOODWILL

NOTE 7 – GOODWILL

 

Goodwill consisted of the following as of March 31, 2026 and 2025:

 

 

 

As of

March 31,

 

 

As of

March 31,

 

 

 

2026

 

 

2025

 

Goodwill, gross (Note 12)

 

$20,876,787

 

 

$20,876,787

 

Less: impairment

 

 

(9,939,932 )

 

 

(3,376,186 )

Goodwill, net

 

 

10,936,855

 

 

 

17,500,601

 

 

The changes in the carrying amount of goodwill for the years ended March 31, 2026 and 2025 were as follow:

 

 

 

As of

March 31,

 

 

As of

March 31,

 

 

 

2026

 

 

2025

 

Goodwill

 

$17,500,601

 

 

$3,376,186

 

Acquisitions (Note 12)

 

 

-

 

 

 

17,500,601

 

Impairment

 

 

(6,563,746 )

 

 

(3,376,186 )

Ending balance

 

 

10,936,855

 

 

 

17,500,601

 

 

The Company recognized goodwill impairment of $6,563,746 related to goodwill arising from the acquisition of BW in the fiscal year ended March 31, 2026, and $3,376,186 and $1,807,848 related to goodwill arising from the acquisition of 2Lab3 in the fiscal year ended March 31, 2025 and March 31, 2024, respectively. The fiscal year 2025 charge completed the impairment of goodwill arising from the acquisition of 2Lab3. As of March 31, 2026, the remaining goodwill balance of $10,936,855 related to the acquisition of BW.