Intangible Assets, Property, Plant & Equipment

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Intangible Assets, Property, Plant & Equipment

4. Intangible Assets, Property, Plant & Equipment

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

	March 31, 2023			March 31, 2022
Capitalized software development costs	$	1,278,062		$	586,700
Computer equipment		39,015			23,395
Less: Combined accumulated depreciation and amortization		(666,146	)		(149,919	)
Combined intangible assets, property and equipment, net	$	650,931		$	460,176

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 expense amount to $9,357 and amortization expense amounted to $508,055 for the year ended March 31, 2023. Depreciation expense amount to $2,642 and amortization expense amounted to $147,277 for the year ended March 31, 2022.

Amortization expense for fiscal year end March 31, 2024 is expected to be $466,818 and $155,911 for fiscal year end March 31, 2025.