Property, Plant & Equipment

9 Months Ended

Dec. 31, 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	December 31, 2022			March 31, 2022
Capitalized software development costs	2 years	$	1,221,905		$	586,700
Computer equipment	3 years		40,022			23,395
Less: Accumulated depreciation and amortization			(493,660	)		(149,919	)
Property and equipment, net		$	768,267		$	460,176

ROCKETFUEL BLOCKCHAIN, INC.

NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 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 $256,659 and $493,660 for the three and nine months ended December 31, 2022. No depreciation and amortization expenses were recorded for the three and nine months ended December 31, 2021.