Prepaid expenses and other current assets

3 Months Ended

Jun. 30, 2023

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:

	June 30, 2023		March 31, 2023
Prepaid expenses	$	203,528	$	148,929
Deferred charges		27,720		24,720
Other receivables		13,200		643,976
	$	244,448	$	817,625

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 year ended March 31, 2023, we recorded an aggregate benefit of $628,401 in our consolidated financial statements and the receivable for the ERTC benefit as of March 31, 2023 is in other current assets, which was received June 1, 2023.