Prepaid expenses and other current assets

9 Months Ended

Dec. 31, 2022

Disclosure Text Block Supplement [Abstract]

Other Current Assets [Text Block]

Note 6 – Prepaid expenses and other current assets

Prepaid expenses and other current assets consist of:

	December 31, 2022		March 31, 2022
Prepaid expenses	$	250,918	$	181,056
Deferred charges		24,719		24,204
Other receivables		691,975		38,780
	$	967,612	$	244,040

In March 2020, the Coronavirus Aid, Relief, and Economic Security Act was signed into law, providing numerous tax provisions and other stimulus measures, including the Employee Retention Tax Credit (“ERTC”): a refundable tax credit against certain employment taxes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 and the American Rescue Plan Act of 2021 extended and expanded the availability of the ERTC. We qualified for the ERTC in the first two quarters of 2021. During the quarter ended December 31, 2022, we recorded an aggregate benefit of $628,401 in our financial statements and the receivable for the ERTC benefit as of December 31, 2022 is in Other current assets.