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DEFERRED FINANCING COST, NET
 6 Months Ended
Sep. 30, 2023
Deferred Financing Cost Net  
DEFERRED FINANCING COST, NET

NOTE – 5 DEFERRED FINANCING COST, NET

 

Deferred financing cost, net is as follows:

 

Schedule of deferred financing costs  September,
2023		   March 31,
2023		 
         
Deferred financing cost  $1,207,500   $1,207,500 
Less: amortization   (510,951)   (309,701)
Deferred financing cost, net  $696,549   $897,799 

 

On June 24, 2022, the Company issued 525,000,000 shares of its common stock as Commitment Shares to Williamsburg Venture Holdings, LLC (the “Investor”), under an Equity Purchase Agreement dated June 21, 2022 (the “Agreement”), in consideration for the Investor’s execution and delivery of, and performance under the Agreement, which was deferred to be amortized over the financing period of 3 years.

 

Interest expense for the three months ended September 30, 2023 and 2022 were $100,625 and $32,569, respectively.

 

Interest expense for the six months ended September 30, 2023 and 2022 were $201,250 and $47,513, respectively