NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Fixed Assets (Policies)

12 Months Ended

Mar. 31, 2023

Policies

Fixed Assets

Fixed Assets

Fixed assets are stated at cost. Depreciation of machinery and equipment is recorded over the estimated useful lives of the assets, generally five years, using the straight-line method. Amortization of leasehold improvements is recorded using the straight-line method over the lesser of the lease term or five-year useful life. We record losses on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. We did not identify any indicators of impairment during fiscal 2023 or 2022. Depreciation expense related to fixed assets was $196,738 for fiscal 2023 and $214,877 for fiscal 2022.