Property, Plant & Equipment

3 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property, Plant & Equipment

4. Property, Plant & Equipment

The Company’s property, plant and equipment assets are comprised of the following:

	Useful Life	June 30, 2022			March 31, 2022
Capitalized software development costs	2 years	$	749,188		$	586,700
Computer equipment	3 years		28,788			23,395
Less: Accumulated depreciation and amortization			(237,000	)		(149,919	)
Property and equipment, net		$	540,976		$	460,176

ROCKETFUEL BLOCKCHAIN, INC.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2022

(UNAUDITED)

Capitalized software development costs represent the costs incurred during the development stage, when direct and incremental internal and external costs, are capitalized until the software is substantially complete and ready for its intended use. The Company also capitalizes costs related to specific upgrades and enhancements of internal-use software when it is probable that the expenditures will result in additional functionality.

Depreciation and amortization expenses amount to $87,081 and $nil for the three months ended June 30, 2022 and 2021, respectively.