v3.26.1
Property and Equipment
 3 Months Ended
Jun. 30, 2026
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

NOTE 4 — PROPERTY AND EQUIPMENT

 

During the year ended March 31, 2025, the Company recognized an additional impairment charge of $3,799 related to capitalized costs for property and equipment previously impaired in fiscal 2024.

 

During the year ended March 31, 2026, the Company disposed of certain treatment equipment and related assets, recognizing an aggregate loss on disposal of $1,795.

 

During the three months ended June 30, 2026, the Company sold its remaining treatment equipment and related assets as part of the disposition of its former treatment operations. The equipment and related items were sold for aggregate consideration of $24,007. As of June 30, 2026, $14,007 had been collected and the remaining $10,000 was included in other current assets in the accompanying balance sheet. The Company incurred aggregate transportation and other disposal costs of $8,091 in connection with the sale, of which $1,546 remained unpaid and was included in accounts payable and accrued expenses as of June 30, 2026. The Company recognized a gain on disposal of $103, which is included in other income (expense) in the accompanying statements of operations.

 

Cash collected as of June 30, 2026   $ 14,007  
Other receivable as of June 30, 2026     10,000  
Aggregates sales consideration     24,007  
Less: net book value of equipment sold     (15,813 )
Less: disposal costs paid as of June 30, 2026     (6,545 )
Less: disposal costs included in accounts payable and accrued expenses at June 30, 2026     (1,546 )
Gain on disposal of property and equipment   $ 103  

 

Property and equipment and related accumulated depreciation are summarized in the table below:

 

    June 30,     March 31,  
    2026     2026  
Machinery and equipment   $ -     $ 19,995  
Less: accumulated depreciation     -       (4,071 )
Property and equipment, net   $ -     $ 15,924  

 

Depreciation expense was $111 and $2,274 for the three months ended June 30, 2026 and 2025, respectively.