PROPERTY AND EQUIPMENT

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 4 – PROPERTY AND EQUIPMENT

Property and equipment, stated at cost, consisted of the following:

	Estimated Life	March 31, 2023			March 31, 2022
Furniture and fixtures	5 years	$	120,519		$	120,519
Office equipment	3 years		5,500			5,500
Vehicle	5 years		-			97,991
			126,019			224,010
Less: Accumulated depreciation			(78,732	)		(88,725	)
Total		$	47,287		$	135,285

On July 15, 2022, the Company sold its vehicle to a third party who agreed to assume the loan outstanding on the vehicle. The net book value of the vehicle upon sale was $55,528 and outstanding loan payable was $53,332. As a result, the Company recorded a net loss of $2,196 upon sale of its vehicle which is included in general and administrative expenses. Depreciation expense amounted to $32,470 and $42,388 for the years ended March 31, 2023 and 2022, respectively.