Commitments and Contingencies

12 Months Ended

Mar. 31, 2024

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 described below, the Company did not have significant commitments, long-term obligations, or guarantees as of March 31, 2024 and 2023.

Operating lease

The 2022 Office Lease has a remaining lease term of the operating lease of 0.9 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 2.1 years and discount rate used for the operating lease is 10.34%.

During the years ended March 31, 2024 and 2023, the operating lease expense recognized was $121,980 and $42,172 respectively.

	2022 Office Lease			2023 Office Lease			Total
2025		35,143			88,745			123,888
2026		—			88,745			88,745
2027		—			6,441			6,441
Total future minimum lease payments	$	35,143		$	183,931		$	219,074
Less: imputed interest		(777	)		(19,012	)		(19,789	)
Total operating lease liability	$	34,366		$	164,919		$	199,285
Less: operating lease liability – current		34,366			75,190			109,556
Total operating lease liability – non current	$	—		$	89,729		$	89,729

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 March 31, 2024, the Company is not a party to any material legal or administrative proceedings.