Commitments and Contingencies

6 Months Ended

Sep. 30, 2023

Commitments and Contingencies [Abstract]

Commitments and Contingencies

6. Commitments and Contingencies

Other than two office leases both with a lease term of 3 years that the Company entered into in February 2022 (the “2022 Office Lease”) and in April 2023 (the “2023 Office Lease”) as below, the Company did not have significant commitments, long-term obligations, or guarantees as of September 30, 2023 and 2022.

Operating lease

The 2022 Office Lease has a remaining lease term of the operating lease of 1.4 years and discount rate used for the operating lease is 4.9%.

The 2023 Office Lease has a remaining lease term of the operating lease of 2.6 years and discount rate used for the operating lease is 10.34%.

During the three months ended September 30, 2023 and 2022, the operating lease expense recognized was $32,113 and $10,543 respectively.

During the six months ended September 30, 2023 and 2022, the operating lease expense recognized was $57,755 and $21,086 respectively.

	2022 Office Lease			2023 Office Lease			Total
2024	$	21,086		$	44,371		$	65,457
2025		35,143			88,745			123,888
2026 and after		—			95,186			95,186
Total future minimum lease payments	$	56,229		$	228,302		$	284,531
Less: imputed interest		(1,905	)		(28,595	)		(30,500	)
Total operating lease liability	$	54,324		$	199,707		$	254,031
Less: operating lease liability - current		40,409			71,416			111,825
Total operating lease liability – non current	$	13,915		$	128,291		$	142,206

Contingencies

The Company is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Company does not anticipate that the final outcome arising out of any such matter will have a material adverse effect on our business, financial position, cash flows or results of operations taken as a whole. As of September 30, 2023, the Company is not a party to any material legal or administrative proceedings.