GOODWILL

12 Months Ended

Mar. 31, 2024

GOODWILL

GOODWILL

NOTE 7 – GOODWILL

Goodwill consisted of the following as of March 31, 2024 and 2023:

	As of March 31,			As of March 31,
	2024			2023
Goodwill, gross (Note 12)	$	5,184,036		$	5,184,036
Less: impairment		(1,807,850	)		-
Goodwill, net	$	3,376,186		$	5,184,036

The changes in the carrying amount of goodwill for the years ended March 31, 2024 and 2023 were as follow:

	As of March 31,			As of March 31,
	2024			2023
Goodwill	$	5,184,036		$	-
Acquisitions (Note 12)		-			5,184,036
Impairment		(1,807,850	)		-
Goodwill, net	$	3,376,186		$	5,184,036

The goodwill generated from the expected synergies from the output capacity of the transaction and service scenario of developing AI-powered applications

The Company assessed qualitative factors and performed the quantitative impairment test. As of March 31, 2024 and 2023, the Company recognized impairment amounted to $1,807,850 and nil, respectively.