Intangible Assets; Property, Plant & Equipment

3 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Intangible Assets; Property, Plant & Equipment

NOTE 4. Intangible Assets; Property, Plant & Equipment

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

	Useful Life	June 30, 2023			March 31, 2023
Capitalized software development costs	2 years	$	1,278,062		$	1,278,062
Computer equipment	3 years		28,202			39,105
Less: Accumulated depreciation and amortization			(827,664	)		(666,146	)
Combined intangible assets, property and equipment, net		$	478,600		$	650,931

ROCKETFUEL BLOCKCHAIN, INC.

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2023

(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 $172,331 and $87,081 for the three months ended June 30, 2023 and 2022, respectively.