PROPERTY AND EQUIPMENT

9 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

Property and equipment, net, consisted of the following at December 31, 2022 and March 31, 2022:

	December 31, 2022			March 31, 2022
Gym equipment	$	–		$	229,821
Cages		151,009			151,009
Event assets		122,795			122,795
Furniture and fixtures		–			19,366
Production truck gear		11,740			11,740
Production equipment		80,965			80,965
Venue lighting system		38,266			38,266
Leasehold improvements		4,452			126,851
Electronics hardware and software		191,299			181,720
Trucks trailers and vehicles		289,028			289,028
		889,554			1,251,561
Less: accumulated depreciation		(361,304	)		(267,344	)
	$	528,250		$	984,217

Depreciation expense related to these assets for the three months ended December 31, 2022 and 2021 amounted to $66,015 and $76,523, respectively. Depreciation expense related to these assets for the nine months ended December 31, 2022 and 2021 amounted to $197,490 and $210,663, respectively.

As of December 31, 2022 the Company has deemed the assets of One More Gym Birmingham LLC and One More Gym Tuscaloosa LLC to be impaired. The Company recorded a loss of $300,475 on the impairment.