INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

SCHEDULE OF INCOME TAX PROVISION BENEFIT

The income tax (provision) benefit for the periods shown consist of the following:

	2022			2021
Current
US Federal	$	(1,302,811	)	$	-
US State		(446,667	)		-
Total current provision		(1,749,488	)		-
Deferred
US Federal		(7,727,011	)		582,724
US State		(2,649,291	)		137,276
Total deferred benefit		(10,376,272	)		720,000
Change in valuation allowance		8,839,791			(720,000	)
Income tax (provision) benefit	$	(3,285,969	)	$	-

SCHEDULE OF RECONCILIATION OF INCOME TAX

The reconciliation of income tax expense computed at the U.S. federal statutory rate of 21% to the income tax provision for the years ended March 31, 2022 and 2021 is as follows:

	2022			2021
Computed tax expense		21	%		21	%
State taxes, net of Federal income tax benefit		7	%		5	%
Change in valuation allowance		(24	%)		(10	%)
Employee stock awards		4	%		(5	%)
Stock grants		0	%		(1	%)
Stock for services		0	%		(6	%)
Rent expense		0	%		0	%
Non-deductible meals & entertainment		0	%		0	%
Stock and warrants on note conversion		0	%		(5	%)
Contingent consideration fair value		1	%		0	%
Total provision for income taxes		9	%		0	%

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

Significant components of the Company’s deferred tax liabilities and assets at March 31, 2022 and March 31, 2021 are as follows:

	2022			2021
Deferred tax assets
Net operating loss carryforward	$	-		$	8,119,764
Loss on purchase		879,319			801,366
Other		-			442,953
Total deferred tax assets	$	879,319		$	9,364,083
Deferred tax liabilities
Depreciation expense	$	(2,208,361	)	$	(1,377,238	)
Other		(207,439	)		-
Total deferred tax liabilities	$	(2,415,800	)	$	(1,377,238	)
Net deferred tax assets/(liabilities)	$	(1,536,481	)	$	7,986,845
Valuation allowance		-			(7,986,845	)
Total net deferred tax assets/(liabilities)	$	(1,536,481	)	$	-