Cover
Cover - shares | 9 Months Ended | |
Dec. 31, 2023 | Feb. 14, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Dec. 31, 2023 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2024 | |
Current Fiscal Year End Date | --03-31 | |
Entity File Number | 000-49990 | |
Entity Registrant Name | PCS EDVENTURES!, INC. | |
Entity Central Index Key | 0001122020 | |
Entity Tax Identification Number | 82-0475383 | |
Entity Incorporation, State or Country Code | ID | |
Entity Address, Address Line One | 11915 West Executive Drive | |
Entity Address, Address Line Two | Suite 101 | |
Entity Address, City or Town | Boise | |
Entity Address, State or Province | ID | |
Entity Address, Postal Zip Code | 83713 | |
City Area Code | (208) | |
Local Phone Number | 343-3110 | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 124,733,494 |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
CURRENT ASSETS | ||
Cash | $ 2,006,618 | $ 442,657 |
Accounts receivable, net of allowance for doubtful accounts of $18,469 | 149,121 | 363,947 |
Accounts receivable, other receivables | 45,370 | 13,312 |
Prepaid expenses | 954,917 | 436,118 |
Inventory, net | 1,794,416 | 1,237,872 |
Total Current Assets | 4,950,442 | 2,493,906 |
NONCURRENT ASSETS | ||
Lease Right-of-Use Asset | 301,569 | 173,352 |
Deposits | 6,300 | 6,300 |
Property and equipment, net | 39,766 | 31,533 |
Deferred tax asset | 1,011,466 | 1,011,466 |
Total Noncurrent Assets | 1,359,101 | 1,222,651 |
TOTAL ASSETS | 6,309,543 | 3,716,557 |
CURRENT LIABILITIES | ||
Accounts payable | 364,436 | 27,927 |
Payroll liabilities and accrued expenses | 108,358 | 226,231 |
Deferred revenue | 51,185 | 7,085 |
Lease Liability, current portion | 90,657 | 103,026 |
Total Current Liabilities | 614,636 | 364,269 |
Lease Liability, net of current portion | 222,448 | 72,726 |
Total Noncurrent Liabilities | 222,448 | 72,726 |
TOTAL LIABILITIES | 837,084 | 436,995 |
STOCKHOLDERS’ EQUITY (DEFICIT) | ||
Preferred stock, no par value, 20,000,000 authorized shares, no shares issued and outstanding | ||
Common stock, no par value, 150,000,000 authorized shares, 124,733,494 and 125,732,479 shares issued and outstanding | ||
Additional Paid-in Capital | 40,570,459 | 40,635,392 |
Accumulated deficit | (35,098,000) | (37,355,830) |
Total Stockholders’ Equity | 5,472,459 | 3,279,562 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 6,309,543 | $ 3,716,557 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 18,469 | $ 18,469 |
Preferred stock, par value | $ 0 | $ 0 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 124,733,494 | 125,732,479 |
Common stock, shares outstanding | 124,733,494 | 125,732,479 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Income Statement [Abstract] | ||||
REVENUE | $ 459,087 | $ 1,847,659 | $ 6,831,694 | $ 4,483,106 |
COST OF SALES | 310,657 | 751,711 | 2,503,552 | 1,833,669 |
GROSS PROFIT | 148,430 | 1,095,948 | 4,328,142 | 2,649,437 |
OPERATING EXPENSES | ||||
Salaries and wages | 353,934 | 389,795 | 1,313,886 | 1,050,032 |
General and administrative expenses | 231,475 | 191,117 | 821,116 | 587,718 |
Total Operating Expenses | 585,409 | 580,912 | 2,135,002 | 1,637,750 |
INCOME (LOSS) FROM OPERATIONS | (436,979) | 515,036 | 2,193,140 | 1,011,687 |
OTHER INCOME AND (EXPENSES) | ||||
Tax credit | 94,703 | 31,258 | 94,703 | |
Net interest income (expense) | 20,183 | (40,544) | 30,774 | (114,705) |
(Gain) loss on lease modification | 2,658 | 2,658 | ||
Total Other Income (Expense) | 22,841 | 54,159 | 64,690 | (20,002) |
NET INCOME (LOSS) BEFORE TAXES | (414,138) | 569,195 | 2,257,830 | 991,685 |
Provision for income taxes | ||||
NET INCOME (LOSS) | $ (414,138) | $ 569,195 | $ 2,257,830 | $ 991,685 |
Net income (loss) per common share: | ||||
Basic | $ 0 | $ 0 | $ 0.02 | $ 0.01 |
Diluted | $ 0 | $ 0 | $ 0.02 | $ 0.01 |
Weighted Average Common Shares Outstanding | ||||
Basic | 124,733,494 | 125,482,479 | 125,183,945 | 124,973,388 |
Diluted | 124,733,494 | 125,647,758 | 125,183,945 | 125,138,667 |
Statement of Stockholders' Defi
Statement of Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance at Mar. 31, 2022 | $ 40,589,402 | $ (40,132,007) | $ 457,395 | |
Balance, shares at Mar. 31, 2022 | 124,482,479 | |||
Net Income (Loss) | 991,685 | 991,685 | ||
Shares Issued (exercise of warrants) | 25,000 | 25,000 | ||
Shares Issued (exercise of warrants), shares | 1,000,000 | |||
Option expense | 15,990 | 15,990 | ||
Balance at Dec. 31, 2022 | 40,630,392 | (39,140,322) | 1,490,070 | |
Balance, shares at Dec. 31, 2022 | 125,482,479 | |||
Balance at Sep. 30, 2022 | 40,630,392 | (39,709,517) | 920,875 | |
Balance, shares at Sep. 30, 2022 | 125,482,479 | |||
Net Income (Loss) | 569,195 | 569,195 | ||
Shares Issued (exercise of warrants) | ||||
Option expense | ||||
Balance at Dec. 31, 2022 | 40,630,392 | (39,140,322) | 1,490,070 | |
Balance, shares at Dec. 31, 2022 | 125,482,479 | |||
Balance at Mar. 31, 2023 | 40,635,392 | (37,355,830) | 3,279,562 | |
Balance, shares at Mar. 31, 2023 | 125,732,479 | |||
Net Income (Loss) | 2,257,830 | 2,257,830 | ||
Option expense | ||||
Shares Redeemed | (64,933) | (64,933) | ||
Shares Redeemed, shares | (998,985) | |||
Balance at Dec. 31, 2023 | 40,570,459 | (35,098,000) | 5,472,459 | |
Balance, shares at Dec. 31, 2023 | 124,733,494 | |||
Balance at Sep. 30, 2023 | 40,570,459 | (34,683,862) | 5,886,597 | |
Balance, shares at Sep. 30, 2023 | 124,733,494 | |||
Net Income (Loss) | (414,138) | (414,138) | ||
Option expense | ||||
Shares Redeemed | ||||
Balance at Dec. 31, 2023 | $ 40,570,459 | $ (35,098,000) | $ 5,472,459 | |
Balance, shares at Dec. 31, 2023 | 124,733,494 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net Income | $ 2,257,830 | $ 991,685 |
Stock based compensation | 15,990 | |
Depreciation and amortization | 7,863 | 3,470 |
Amortization of right of use asset | 112,063 | 73,833 |
Changes in operating assets and liabilities | ||
(Increase) decrease in accounts receivable | 214,826 | (68,572) |
(Increase) decrease in prepaid expenses | (518,799) | (336,247) |
(Increase) decrease in inventories | (556,544) | (358,716) |
(Increase) decrease in other current assets | (32,058) | 92,002 |
(Decrease) increase in accounts payable and accrued liabilities | 218,636 | (98,641) |
Increase (decrease) in lease liability | (102,927) | (72,433) |
Increase (decrease) in unearned revenue | 44,100 | 2,288 |
Net Cash Provided by Operating Activities | 1,644,990 | 244,659 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash paid for purchase of fixed assets | (16,096) | (16,459) |
Net Cash Used by Investing Activities | (16,096) | (16,459) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Common stock repurchased and cancelled | (64,933) | |
Principal payments on debt | (143,327) | |
Proceeds from sale of stock | 25,000 | |
Net Cash Used by Financing Activities | (64,933) | (118,327) |
Net Increase (Decrease) in Cash | 1,563,961 | 109,873 |
Cash at Beginning of Period | 442,657 | 584,070 |
Cash at End of Period | 2,006,618 | 693,943 |
Cash Paid for Interest | 648 | 107,955 |
Cash Paid for taxes | 41,957 | 4,868 |
Non Cash Investing and Financing Transactions: | ||
Right of use assets obtained in exchange for new operating lease liabilities | $ 240,281 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Pay vs Performance Disclosure [Table] | ||||
Net Income (Loss) Attributable to Parent | $ (414,138) | $ 569,195 | $ 2,257,830 | $ 991,685 |
Insider Trading Arrangements
Insider Trading Arrangements | 9 Months Ended |
Dec. 31, 2023 | |
Trading Arrangements, by Individual [Table] | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
DESCRIPTION OF BUSINESS AND SIG
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES Description of Business The financial statements presented are those of PCS Edventures!, Inc., an Idaho corporation (the “Company,” “PCS,” “PCSV,” “we,” “our,” “us” or similar words), incorporated in 1994, in the State of Idaho. PCS specializes in experiential, hands-on, K12 education and drone technology. PCS has extensive experience and intellectual property (IP) that includes drone hardware, product designs, and K-12 curriculum content. PCS continually develops new educational products based upon market needs that the Company identifies through its sales and customer networks. Our products facilitate STEM education by providing engaging activities that demonstrate STEM concepts and inspire further STEM studies, with the goal of ultimately leading students to pursue STEM career pathways. Due to our exceptionally detailed curriculum, our products are easy to teach and do not require a teaching degree or experience to administer. Our educational products are developed from both in-house efforts and contracted services. They are marketed through reseller channels, direct sales efforts, partner networks, and web-based channels. PCS has developed and sells a variety of STEM education products into the K12 market which can be categorized as follows: 1. Enrichment Programs These camps are for the informal learning market and are designed to be highly engaging for students while easily administered by the instructor. The Company offers approximately thirty (30) different enrichment programs and typically develops at least two (2) new programs each year. Some of the more popular programs include Ready, Set, Drone!; Traveling Artist; Unleash Your Wild Side, Build a Better World; Claymation; Oceanic Exploration; Pirate; and Flight and Aerodynamics. 2. Discover Series Products These products are designed for the makerspace environment and include engaging STEM activities that motivate students to pursue educational pathways toward STEM careers. The Discover Series includes Discover Engineering; Discover Robotics & Physics; Discover Robotics & Programming; and Discover STEM. 3. BrickLAB Products These products are designed for the grade school market and use the Company’s proprietary bricks (which are Lego compatible) and curriculum to engage students to explore, imagine and create within a STEM education framework. The Company offers a variety of grade-specific BrickLAB products. 4. Discover Drones, Add-on Drone Packages and Ala Carte Drone Items These products are designed around using drones as a platform for STEM education and career exploration. These titles include the Discover Drones series of Products; Discover Drones Indoor Coding Bundle; Discover Drones Indoor Racing Add-On; Discover Drones Outdoor Practice Add-on 5. STEAMventures BUILD Activity Book These series of activity books are designed for the K-3 market and ideal for a distance-learning environment. The series includes twelve (12) different issues. Instructor guides and/or family engagement guides are included. The Company also provides the necessary bricks for the builds in the activity books as a separate, but related product. 6. Professional Development Training The Company offers professional development trainings, for a fee, to educators who are implementing the Company’s products in their classroom. The Company intends to continue developing STEM education products that address demand from large markets. Accounting Method The Company’s financial statements are prepared using the accrual method of accounting. The Company has elected a March 31 fiscal year end. Cash and Cash Equivalents Cash and cash equivalents, totaling $ 2,006,618 442,657 Use of Estimates The preparation of these financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant estimates include reserves related to accounts receivable and inventory, the valuation allowance related to deferred tax assets, the valuation of equity instruments, and debt discounts. Concentration of Credit Risks and Significant Customers The Company extends credit to customers and is therefore subject to credit risk. Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade receivables. In the normal course of business, the Company provides credit terms to its customers. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which when realized have been within the range of management’s expectations. An allowance for doubtful accounts is recorded to account for potential bad debts. Estimates are used in determining the allowance for doubtful accounts and are based upon an assessment of selected accounts, historic averages, and as a percentage of remaining accounts receivable by aging category. In determining these percentages, the Company evaluates historical write- offs, and current trends in customer credit quality, as well as changes in credit policies. The Company generally does not require collateral from its customers. The Company has established an allowance for doubtful accounts of $ 18,469 Inventory Finished goods inventory is composed of items produced in-house, as well as items from outside suppliers. These items include, but are not limited to, Fischertechnik® manipulatives, Brick manipulatives, drone components, digital media equipment, furniture units, curriculum, and other miscellaneous items used in our various labs. Our inventory is carried at the lower of cost or market and valued using the average cost method for each item. When indicators of inventory impairment exist, the Company measures the carrying value of the inventory against its market value, and if the carrying value exceeds the market value, the inventory value is adjusted accordingly. The Company has established a provision for excess and obsolete inventory reserve of $ 6,343 Property, Plant and Equipment Depreciation on property and equipment is computed using the straight-line method over the estimated useful life of the asset. The Company had fully depreciated property and equipment prior to March 31, 2018. Beginning in fiscal year 2022 through the current reporting period, the Company purchased various warehouse and office equipment for $ 54,419 14,653 39,766 31,533 6,790 Software has been fully depreciated as of December 31, 2023 and March 31, 2023. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment annually, or when events or circumstances arise that indicate the existence of impairment for patents and other intangibles. There was no impairment recorded during the three and nine months ended December 31, 2023, and 2022. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. In November 2015, the Financial Accounting Standards Board issued ASU No. 2015-17, “Income Taxes (Topic 740)-Balance Sheet Classification of Deferred Taxes” (ASU 2015-17), which requires reporting the net amount of deferred tax assets and liabilities as a single noncurrent item on the classified balance sheet. Before this change, the net amounts of current and noncurrent deferred tax assets and liabilities were reported separately. We account for income taxes in accordance with ASC 740, Income Taxes (“ASC 740”). ASC 740 prescribes the use of the asset and liability method to compute the differences between the tax bases of assets and liabilities and the related financial amounts, using currently enacted tax laws. If necessary, a valuation allowance is established, based on the weight of available evidence, to reduce deferred tax assets to the amount that is more likely than not to be realized. Realization of the deferred tax assets, net of deferred tax liabilities, is principally dependent upon achievement of sufficient future taxable income. We exercise significant judgment in determining our provisions for income taxes, our deferred tax assets and liabilities and our future taxable income for purposes of assessing our ability to utilize any future tax benefit from our deferred tax assets. In accordance with GAAP, the Company has analyzed its filing positions in all jurisdictions where it is required to file income tax returns for the open tax years in such jurisdictions. The Company currently believes that all significant filing positions are highly certain and that all of its significant income tax filing positions and deductions would be sustained upon audit. Therefore, the Company has no significant reserves for uncertain tax positions, and no adjustment to such reserves was required by GAAP. No interest or penalties have been levied against the Company and none are anticipated, therefore no interest or penalty has been included in the provision for income taxes in the consolidated statements of operations. The Internal Revenue Code contains provisions which reduce or limit the availability and utilization of net operating loss (NOL) carry forwards in the event of a more than 50 SCHEDULE OF INCOME TAX EXAMINATION Tax Year Fiscal Year End Filed Date Open Through 2021 3/31/2022 2/3/2023 2/3/2026 2020 3/31/2021 1/18/2022 1/18/2025 2019 3/31/2020 1/28/2021 1/28/2024 Revenue Recognition The Company accounts for revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers The Company had deferred revenue of $ 51,185 7,085 Most of our contracts with customers contain transaction prices with fixed consideration; however, some contracts may contain variable consideration in the form of discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties and other similar items. When a contract includes variable consideration, we evaluate the estimate of variable consideration to determine whether the estimate needs to be constrained; therefore, we include the variable consideration in the transaction price only to the extent that it is probable that a significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. This can result in recognition of revenue over time as we perform services or at a point in time when the deliverable is transferred to the customer, depending on an evaluation of the criteria for over time recognition in FASB ASC 606. For certain fixed-fee per transaction contracts, such as delivering training courses or conducting workshops, revenue is recognized during the period in which services are delivered in accordance with the pricing outlined in the contracts. Stock-Based Compensation We recognize stock-based compensation expense under the provisions of ASC 718, Compensation—Stock Compensation (“ASC 718”). We use the Black-Scholes option pricing model to calculate the fair value of stock options at their respective grant date. The use of option valuation models requires the input of highly subjective assumptions, including the expected stock price volatility and the expected term of the option. The fair value of restricted stock awards is the fair market value on the date of grant. We recognize these compensation costs on a straight-line basis over the requisite service period, which is generally the vesting period of the award. During fiscal year 2023, two sets of performance options were exercised. Mike J. Bledsoe, President, exercised 1,000,000 0.025 250,000 0.02 Business Segments and Related Information GAAP establishes standards for the way public business enterprises are to report information about operating segments in annual financial statements and requires enterprises to report selected information about operating segments in interim financial reports issued to shareholders. It also establishes standards for related disclosure about products and services, geographic areas and major customers. The Company currently operates in one business segment. Net Earnings (Loss) Per Share of Common Stock The Company calculates net income (loss) per share in accordance with ASC 260, Earnings Per Share (“ASC 260”). Under ASC 260, basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The weighted average number of shares of common stock outstanding includes vested restricted stock awards. Diluted net income (loss) per share (“EPS”) reflects the potential dilution that could occur assuming exercise of all dilutive unexercised stock options and warrants. The dilutive effect of these instruments was determined using the treasury stock method. Under the treasury stock method, the proceeds received from the exercise of stock options and restricted stock awards, the amount of compensation cost for future service not yet recognized by the Company and the amount of tax benefits that would be recorded as income tax expense when the stock options become deductible for income tax purposes are all assumed to be used to repurchase shares of the Company’s common stock. Common stock outstanding reflected in the Company’s balance sheets includes restricted stock awards outstanding. Securities that may participate in undistributed net income with common stock are considered participating securities. The computation of diluted earnings per share does not assume exercise or conversion of securities that would have an anti-dilutive effect. The following schedules presents the calculation of basic and diluted net income per share: SCHEDULE OF BASIC AND DILUTED NET INCOME 2023 2022 For the Three Months ended December 31, 2023 2022 Net Income per common Share: Basic $ (0.00 ) $ 0.00 Diluted $ (0.00 ) $ 0.00 Weighted average number of common shares outstanding Basic 124,733,494 125,482,479 Weighted average number of common shares outstanding Fully Diluted 124,733,494 125,647,758 Net income for the three months ended December 31, 2023, and 2022 was $ (414,138 569,195 2023 2022 For the Nine Months ended December 31, 2023 2022 Net Income per common Share: Basic $ 0.02 $ 0.01 Diluted $ 0.02 $ 0.01 Weighted average number of common shares outstanding Basic 125,183,945 124,973,388 Weighted average number of common shares outstanding Fully Diluted 125,183,945 125,138,667 Net Income for the nine months ended December 31, 2023, and 2022, was $ 2,257,830 991,685 Recently Issued Accounting Pronouncements The Company has reviewed recent accounting pronouncements and has determined that they will not significantly impact the Company’s results of operations or financial position. |
BUSINESS CONDITION
BUSINESS CONDITION | 9 Months Ended |
Dec. 31, 2023 | |
Business Condition | |
BUSINESS CONDITION | NOTE 2 – BUSINESS CONDITION As of December 31, 2023, the Company had $ 2.0 1.8 0.9 |
ACCOUNTS RECEIVABLE
ACCOUNTS RECEIVABLE | 9 Months Ended |
Dec. 31, 2023 | |
Credit Loss [Abstract] | |
ACCOUNTS RECEIVABLE | NOTE 3 – ACCOUNTS RECEIVABLE In the Company’s normal course of business, the Company provides credit terms to its customers, which generally range from net fifteen (15) to thirty (30) days. The Company performs ongoing credit evaluations of its customers. The Company established an allowance for doubtful accounts of $ 18,469 |
ACCOUNTS RECEIVABLE, OTHER RECE
ACCOUNTS RECEIVABLE, OTHER RECEIVABLES | 9 Months Ended |
Dec. 31, 2023 | |
Receivables [Abstract] | |
ACCOUNTS RECEIVABLE, OTHER RECEIVABLES | NOTE 4 – ACCOUNTS RECEIVABLE, OTHER RECEIVABLES Other Receivables include receivables due to the Company derived from activities outside of its typical business transactions. As of December 31, 2023, these other receivables included overpayments to the Internal Revenue Service of payroll taxes in the amount of $ 44,570 800 45,370 13,312 |
PREPAID EXPENSES
PREPAID EXPENSES | 9 Months Ended |
Dec. 31, 2023 | |
Prepaid Expenses | |
PREPAID EXPENSES | NOTE 5 - PREPAID EXPENSES Prepaid expenses for the periods are as follows: SCHEDULE OF PREPAID EXPENSES December 31, 2023 March 31, 2023 Prepaid insurance $ 17,464 $ 8,891 Prepaid tradeshows 43,480 34,316 Prepaid inventory 852,753 374,926 Prepaid software 21,677 16,287 Prepaid other 19,543 1,698 Total Prepaid Expenses $ 954,917 $ 436,118 |
COMMON AND PREFERRED STOCK TRAN
COMMON AND PREFERRED STOCK TRANSACTIONS | 9 Months Ended |
Dec. 31, 2023 | |
Equity [Abstract] | |
COMMON AND PREFERRED STOCK TRANSACTIONS | NOTE 6 - COMMON AND PREFERRED STOCK TRANSACTIONS a. Common Stock The Company has 150,000,000 no 124,733,494 During the nine months ended December 31, 2023, the Company had no During the nine months ended December 31, 2023, the Company did not issue shares of common stock. During the nine months ended December 31, 2023, the Company repurchased 998,985 0.065 64,933 b. Preferred Stock The Company has 20,000,000 no |
NOTES PAYABLE
NOTES PAYABLE | 9 Months Ended |
Dec. 31, 2023 | |
Debt Disclosure [Abstract] | |
NOTES PAYABLE | NOTE 7 - NOTES PAYABLE The Company had no |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | NOTE 8 - COMMITMENTS AND CONTINGENCIES Leases The Company adopted ASC 842 as of November 9, 2019 using a modified retrospective transition approach for all leases existing at December 31, 2019, the date of the initial application. Consequently, financial information will not be updated, and disclosures required under ASC 842 will not be provided for dates and periods before January 1, 2020. The Company determines if a contract is a lease or contains a lease at inception. Right of use assets related to operating type leases are reported in other noncurrent assets and the present value of remaining lease obligations is reported in accrued and other liabilities and other noncurrent liabilities on the Balance Sheets. The Company does not currently have any financing type leases. Operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. The Company’s leases do not provide an implicit rate. The Company determine the incremental borrowing rates applicable to the economic environment based on the information available at commencement date, in determining the present value of future payments. The right of use asset for operating leases is measured using the lease liability adjusted for the impact of lease payments made prior to commencement, lease incentives received, initial direct costs incurred and any asset impairments. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Lease expense for minimum lease payments is recognized on a straight-line basis over the term of the lease. The Company re-measures and reallocates the consideration in a lease when there is a modification of the lease that is not accounted for as a separate contract. The lease liability is re-measured when there is a change in the lease term or a change in the assessment of whether the Company will exercise a lease option. The Company assesses right of use assets for impairment in accordance with its long-lived asset impairment policy. The Company accounts for lease agreements with contractually required lease and non-lease components on a combined basis. Lease payments made for cancellable leases, variable amounts that are not based on an observable index and lease agreements with an original duration of less than twelve months are recorded directly to lease expense. a. Office and Warehouse The Company leases one building containing its main office and warehouse space under a non-cancelable lease agreement, which commenced on March 2, 2016, accounted for as an operating lease expiring March 14, 2020. On March 3, 2020, a third amendment extended the lease for nineteen and one-half ( 19.5 October 31, 2021 0.60 6,800 200 October 31, 2024 80,020 79,093 b. Equipment The Company leased a production printer for sixty-three ( 63 28,596 23,922 As of December 31, 2023, accounted for and presented under ASC 842 guidance, the future minimum lease payments on operating leases, were as follows: Total minimum lease obligation over the next 7 years SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Fiscal Year Amount 2024 27,272 2025 82,330 2026 38,892 2027 43,232 2028 48,024 2029 53,315 2030 20,040 Total $ 313,105 SCHEDULE OF LEASE PAYABLE Balance Sheet Location December 31, 2023 Right of use assets Other noncurrent assets $ 301,569 Lease payable Current liabilities $ 90,657 Lease payable Long-term liabilities 222,448 Total lease payable $ 313,105 Supplemental cash flow information related to operating leases: SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES December 31, 2023 Operating cash paid to settle lease liabilities $ 82,006 Right of use asset additions in exchange for lease liabilities - December 31, 2023 Weighted average remaining lease term (in years) 6.3 Weighted average discount rate 10 % |
ACCOUNTS PAYABLE
ACCOUNTS PAYABLE | 9 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
ACCOUNTS PAYABLE | NOTE 9 – ACCOUNTS PAYABLE Accounts payable for the periods are as follows: SCHEDULE OF ACCOUNTS PAYABLE December 31, 2023 March 31, 2023 Accounts payable $ 357,893 $ 18,814 Credit cards payable 6,543 9,113 Total $ 364,436 $ 27,927 |
PAYROLL LIABILITIES & ACCRUED E
PAYROLL LIABILITIES & ACCRUED EXPENSES | 9 Months Ended |
Dec. 31, 2023 | |
Payroll Liabilities Accrued Expenses | |
PAYROLL LIABILITIES & ACCRUED EXPENSES | NOTE 10 – PAYROLL LIABILITIES & ACCRUED EXPENSES Accrued expenses for the periods are as follows: SCHEDULE OF ACCRUED EXPENSES December 31, 2023 March 31, 2023 Payroll liabilities $ 93,184 $ 201,724 Sales tax payable 5,184 3,399 State income tax payable - 21,108 Production printer accrued expenses 9,990 - Total $ 108,358 $ 226,231 |
INCOME TAXES
INCOME TAXES | 9 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | NOTE 11 – INCOME TAXES For the three and nine months ended December 31, 2023, the Company recognized no income tax expense (or benefit) due to the partial reversal of its valuation allowance. For the year ended March 31, 2023, the Company partially reversed its valuation allowance recognizing an income tax benefit of $ 1,011,466 (57%) 21 7 0.00 0.0 FASB ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. There were no unrecognized tax benefits as of December 31, 2023. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. No amounts were accrued for the payment of interest and penalties as of December 31, 2023. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception. The Company may be subject to potential examination by federal, state, and city taxing authorities in the areas of income taxes. These potential examinations may include questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, and compliance with federal, state, and city tax laws. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. Although we believe that our tax estimates are reasonable, the ultimate tax determination involves significant judgments that could become subject to examination by tax authorities in the ordinary course of business. We periodically assess the likelihood of adverse outcomes resulting from these examinations to determine the impact on our deferred taxes and income tax liabilities and the adequacy of our provision for income taxes. Changes in income tax legislation, statutory income tax rates or future taxable income levels, among other things, could materially impact our valuation of income tax assets and liabilities and could cause our income tax provision to vary significantly among financial reporting periods. The Company files income tax returns in the United States, the State of Idaho and the State of California. The statute of limitations on a Federal tax return is the due date of the tax return plus three years. In the case of NOLs, the year in which the NOL was generated remains open up to the amount of the NOL until the statute of limitations expires on the year it was used. All required tax returns of the Company due since inception have been filed. The Company does not have any unrecognized tax benefits to report in the current period. |
DILUTIVE INSTRUMENTS
DILUTIVE INSTRUMENTS | 9 Months Ended |
Dec. 31, 2023 | |
Dilutive Instruments | |
DILUTIVE INSTRUMENTS | NOTE 12 - DILUTIVE INSTRUMENTS Stock Options and Warrants As of December 31, 2023, and March 31, 2023, the Company had no |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 9 Months Ended |
Dec. 31, 2023 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS | NOTE 13 - RELATED PARTY TRANSACTIONS On August 21, 2018, the Company granted 1,000,000 254.03 0.27 0.025 1,000,000 0.025 From April 1, 2013 to March 31, 2017, the Company executed related party promissory notes with the Chairman and CEO of the Company, Todd R. Hackett, for $ 1,292,679 175,000 340,000 220,648 10 1,688,327 10 April 20, 2020 142,210 245,000 1,443,327 May 1, 2021 1,443,327 May 1, 2022 1,443,327 On February 1, 2017, the Company, in the capacity of borrower, executed a non-convertible promissory note payable, with no warrants attached, with lender Mike J. Bledsoe, a member of the Executive Management Team and Board of Directors, for $ 50,000 20 April 30, 2017 50,000 23,342 10 50,000 23,342 May 31, 2021 50,000 36,805 May 1, 2022 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 9 Months Ended |
Dec. 31, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 14 - SUBSEQUENT EVENTS At the time of the filing of this Quarterly Report, there were no subsequent events to report. |
DESCRIPTION OF BUSINESS AND S_2
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents, totaling $ 2,006,618 442,657 |
Use of Estimates | Use of Estimates The preparation of these financial statements in conformity with Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s significant estimates include reserves related to accounts receivable and inventory, the valuation allowance related to deferred tax assets, the valuation of equity instruments, and debt discounts. |
Concentration of Credit Risks and Significant Customers | Concentration of Credit Risks and Significant Customers The Company extends credit to customers and is therefore subject to credit risk. Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of trade receivables. In the normal course of business, the Company provides credit terms to its customers. Accordingly, the Company performs ongoing credit evaluations of its customers and maintains allowances for possible losses which when realized have been within the range of management’s expectations. An allowance for doubtful accounts is recorded to account for potential bad debts. Estimates are used in determining the allowance for doubtful accounts and are based upon an assessment of selected accounts, historic averages, and as a percentage of remaining accounts receivable by aging category. In determining these percentages, the Company evaluates historical write- offs, and current trends in customer credit quality, as well as changes in credit policies. The Company generally does not require collateral from its customers. The Company has established an allowance for doubtful accounts of $ 18,469 |
Inventory | Inventory Finished goods inventory is composed of items produced in-house, as well as items from outside suppliers. These items include, but are not limited to, Fischertechnik® manipulatives, Brick manipulatives, drone components, digital media equipment, furniture units, curriculum, and other miscellaneous items used in our various labs. Our inventory is carried at the lower of cost or market and valued using the average cost method for each item. When indicators of inventory impairment exist, the Company measures the carrying value of the inventory against its market value, and if the carrying value exceeds the market value, the inventory value is adjusted accordingly. The Company has established a provision for excess and obsolete inventory reserve of $ 6,343 |
Property, Plant and Equipment | Property, Plant and Equipment Depreciation on property and equipment is computed using the straight-line method over the estimated useful life of the asset. The Company had fully depreciated property and equipment prior to March 31, 2018. Beginning in fiscal year 2022 through the current reporting period, the Company purchased various warehouse and office equipment for $ 54,419 14,653 39,766 31,533 6,790 Software has been fully depreciated as of December 31, 2023 and March 31, 2023. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment annually, or when events or circumstances arise that indicate the existence of impairment for patents and other intangibles. There was no impairment recorded during the three and nine months ended December 31, 2023, and 2022. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rate is recognized in income in the period that includes the enactment date. In November 2015, the Financial Accounting Standards Board issued ASU No. 2015-17, “Income Taxes (Topic 740)-Balance Sheet Classification of Deferred Taxes” (ASU 2015-17), which requires reporting the net amount of deferred tax assets and liabilities as a single noncurrent item on the classified balance sheet. Before this change, the net amounts of current and noncurrent deferred tax assets and liabilities were reported separately. We account for income taxes in accordance with ASC 740, Income Taxes (“ASC 740”). ASC 740 prescribes the use of the asset and liability method to compute the differences between the tax bases of assets and liabilities and the related financial amounts, using currently enacted tax laws. If necessary, a valuation allowance is established, based on the weight of available evidence, to reduce deferred tax assets to the amount that is more likely than not to be realized. Realization of the deferred tax assets, net of deferred tax liabilities, is principally dependent upon achievement of sufficient future taxable income. We exercise significant judgment in determining our provisions for income taxes, our deferred tax assets and liabilities and our future taxable income for purposes of assessing our ability to utilize any future tax benefit from our deferred tax assets. In accordance with GAAP, the Company has analyzed its filing positions in all jurisdictions where it is required to file income tax returns for the open tax years in such jurisdictions. The Company currently believes that all significant filing positions are highly certain and that all of its significant income tax filing positions and deductions would be sustained upon audit. Therefore, the Company has no significant reserves for uncertain tax positions, and no adjustment to such reserves was required by GAAP. No interest or penalties have been levied against the Company and none are anticipated, therefore no interest or penalty has been included in the provision for income taxes in the consolidated statements of operations. The Internal Revenue Code contains provisions which reduce or limit the availability and utilization of net operating loss (NOL) carry forwards in the event of a more than 50 SCHEDULE OF INCOME TAX EXAMINATION Tax Year Fiscal Year End Filed Date Open Through 2021 3/31/2022 2/3/2023 2/3/2026 2020 3/31/2021 1/18/2022 1/18/2025 2019 3/31/2020 1/28/2021 1/28/2024 |
Revenue Recognition | Revenue Recognition The Company accounts for revenue in accordance with FASB ASC 606, Revenue from Contracts with Customers The Company had deferred revenue of $ 51,185 7,085 Most of our contracts with customers contain transaction prices with fixed consideration; however, some contracts may contain variable consideration in the form of discounts, rebates, refunds, credits, price concessions, incentives, performance bonuses, penalties and other similar items. When a contract includes variable consideration, we evaluate the estimate of variable consideration to determine whether the estimate needs to be constrained; therefore, we include the variable consideration in the transaction price only to the extent that it is probable that a significant reversal of the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. This can result in recognition of revenue over time as we perform services or at a point in time when the deliverable is transferred to the customer, depending on an evaluation of the criteria for over time recognition in FASB ASC 606. For certain fixed-fee per transaction contracts, such as delivering training courses or conducting workshops, revenue is recognized during the period in which services are delivered in accordance with the pricing outlined in the contracts. |
Stock-Based Compensation | Stock-Based Compensation We recognize stock-based compensation expense under the provisions of ASC 718, Compensation—Stock Compensation (“ASC 718”). We use the Black-Scholes option pricing model to calculate the fair value of stock options at their respective grant date. The use of option valuation models requires the input of highly subjective assumptions, including the expected stock price volatility and the expected term of the option. The fair value of restricted stock awards is the fair market value on the date of grant. We recognize these compensation costs on a straight-line basis over the requisite service period, which is generally the vesting period of the award. During fiscal year 2023, two sets of performance options were exercised. Mike J. Bledsoe, President, exercised 1,000,000 0.025 250,000 0.02 |
Business Segments and Related Information | Business Segments and Related Information GAAP establishes standards for the way public business enterprises are to report information about operating segments in annual financial statements and requires enterprises to report selected information about operating segments in interim financial reports issued to shareholders. It also establishes standards for related disclosure about products and services, geographic areas and major customers. The Company currently operates in one business segment. |
Net Earnings (Loss) Per Share of Common Stock | Net Earnings (Loss) Per Share of Common Stock The Company calculates net income (loss) per share in accordance with ASC 260, Earnings Per Share (“ASC 260”). Under ASC 260, basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. The weighted average number of shares of common stock outstanding includes vested restricted stock awards. Diluted net income (loss) per share (“EPS”) reflects the potential dilution that could occur assuming exercise of all dilutive unexercised stock options and warrants. The dilutive effect of these instruments was determined using the treasury stock method. Under the treasury stock method, the proceeds received from the exercise of stock options and restricted stock awards, the amount of compensation cost for future service not yet recognized by the Company and the amount of tax benefits that would be recorded as income tax expense when the stock options become deductible for income tax purposes are all assumed to be used to repurchase shares of the Company’s common stock. Common stock outstanding reflected in the Company’s balance sheets includes restricted stock awards outstanding. Securities that may participate in undistributed net income with common stock are considered participating securities. The computation of diluted earnings per share does not assume exercise or conversion of securities that would have an anti-dilutive effect. The following schedules presents the calculation of basic and diluted net income per share: SCHEDULE OF BASIC AND DILUTED NET INCOME 2023 2022 For the Three Months ended December 31, 2023 2022 Net Income per common Share: Basic $ (0.00 ) $ 0.00 Diluted $ (0.00 ) $ 0.00 Weighted average number of common shares outstanding Basic 124,733,494 125,482,479 Weighted average number of common shares outstanding Fully Diluted 124,733,494 125,647,758 Net income for the three months ended December 31, 2023, and 2022 was $ (414,138 569,195 2023 2022 For the Nine Months ended December 31, 2023 2022 Net Income per common Share: Basic $ 0.02 $ 0.01 Diluted $ 0.02 $ 0.01 Weighted average number of common shares outstanding Basic 125,183,945 124,973,388 Weighted average number of common shares outstanding Fully Diluted 125,183,945 125,138,667 Net Income for the nine months ended December 31, 2023, and 2022, was $ 2,257,830 991,685 |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements The Company has reviewed recent accounting pronouncements and has determined that they will not significantly impact the Company’s results of operations or financial position. |
DESCRIPTION OF BUSINESS AND S_3
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
SCHEDULE OF INCOME TAX EXAMINATION | SCHEDULE OF INCOME TAX EXAMINATION Tax Year Fiscal Year End Filed Date Open Through 2021 3/31/2022 2/3/2023 2/3/2026 2020 3/31/2021 1/18/2022 1/18/2025 2019 3/31/2020 1/28/2021 1/28/2024 |
SCHEDULE OF BASIC AND DILUTED NET INCOME | SCHEDULE OF BASIC AND DILUTED NET INCOME 2023 2022 For the Three Months ended December 31, 2023 2022 Net Income per common Share: Basic $ (0.00 ) $ 0.00 Diluted $ (0.00 ) $ 0.00 Weighted average number of common shares outstanding Basic 124,733,494 125,482,479 Weighted average number of common shares outstanding Fully Diluted 124,733,494 125,647,758 Net income for the three months ended December 31, 2023, and 2022 was $ (414,138 569,195 2023 2022 For the Nine Months ended December 31, 2023 2022 Net Income per common Share: Basic $ 0.02 $ 0.01 Diluted $ 0.02 $ 0.01 Weighted average number of common shares outstanding Basic 125,183,945 124,973,388 Weighted average number of common shares outstanding Fully Diluted 125,183,945 125,138,667 |
PREPAID EXPENSES (Tables)
PREPAID EXPENSES (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Prepaid Expenses | |
SCHEDULE OF PREPAID EXPENSES | Prepaid expenses for the periods are as follows: SCHEDULE OF PREPAID EXPENSES December 31, 2023 March 31, 2023 Prepaid insurance $ 17,464 $ 8,891 Prepaid tradeshows 43,480 34,316 Prepaid inventory 852,753 374,926 Prepaid software 21,677 16,287 Prepaid other 19,543 1,698 Total Prepaid Expenses $ 954,917 $ 436,118 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS | SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Fiscal Year Amount 2024 27,272 2025 82,330 2026 38,892 2027 43,232 2028 48,024 2029 53,315 2030 20,040 Total $ 313,105 |
SCHEDULE OF LEASE PAYABLE | SCHEDULE OF LEASE PAYABLE Balance Sheet Location December 31, 2023 Right of use assets Other noncurrent assets $ 301,569 Lease payable Current liabilities $ 90,657 Lease payable Long-term liabilities 222,448 Total lease payable $ 313,105 |
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES | SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES December 31, 2023 Operating cash paid to settle lease liabilities $ 82,006 Right of use asset additions in exchange for lease liabilities - December 31, 2023 Weighted average remaining lease term (in years) 6.3 Weighted average discount rate 10 % |
ACCOUNTS PAYABLE (Tables)
ACCOUNTS PAYABLE (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Payables and Accruals [Abstract] | |
SCHEDULE OF ACCOUNTS PAYABLE | Accounts payable for the periods are as follows: SCHEDULE OF ACCOUNTS PAYABLE December 31, 2023 March 31, 2023 Accounts payable $ 357,893 $ 18,814 Credit cards payable 6,543 9,113 Total $ 364,436 $ 27,927 |
PAYROLL LIABILITIES & ACCRUED_2
PAYROLL LIABILITIES & ACCRUED EXPENSES (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Payroll Liabilities Accrued Expenses | |
SCHEDULE OF ACCRUED EXPENSES | Accrued expenses for the periods are as follows: SCHEDULE OF ACCRUED EXPENSES December 31, 2023 March 31, 2023 Payroll liabilities $ 93,184 $ 201,724 Sales tax payable 5,184 3,399 State income tax payable - 21,108 Production printer accrued expenses 9,990 - Total $ 108,358 $ 226,231 |
SCHEDULE OF INCOME TAX EXAMINAT
SCHEDULE OF INCOME TAX EXAMINATION (Details) | 9 Months Ended |
Dec. 31, 2023 | |
Tax Year 2021 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Fical year end | Mar. 31, 2022 |
Filed date | Feb. 03, 2023 |
Open through | Feb. 03, 2026 |
Tax Year 2020 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Fical year end | Mar. 31, 2021 |
Filed date | Jan. 18, 2022 |
Open through | Jan. 18, 2025 |
Tax Year 2019 [Member] | |
Operating Loss Carryforwards [Line Items] | |
Fical year end | Mar. 31, 2020 |
Filed date | Jan. 28, 2021 |
Open through | Jan. 28, 2024 |
SCHEDULE OF BASIC AND DILUTED N
SCHEDULE OF BASIC AND DILUTED NET INCOME (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net Income per common Share: | ||||
Basic | $ 0 | $ 0 | $ 0.02 | $ 0.01 |
Diluted | $ 0 | $ 0 | $ 0.02 | $ 0.01 |
Weighted average number of common shares outstanding Basic | 124,733,494 | 125,482,479 | 125,183,945 | 124,973,388 |
Weighted average number of common shares outstanding Fully Diluted | 124,733,494 | 125,647,758 | 125,183,945 | 125,138,667 |
DESCRIPTION OF BUSINESS AND S_4
DESCRIPTION OF BUSINESS AND SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Cash and cash equivalents | $ 2,006,618 | $ 2,006,618 | $ 442,657 | ||
Allowance for doubtful accounts | 18,469 | 18,469 | 18,469 | ||
Inventory reserve | 6,343 | 6,343 | 6,343 | ||
Property plant and equipment | 54,419 | 54,419 | |||
Accumulated depreciation on property plant and equipment | 14,653 | 14,653 | 6,790 | ||
Property plant and equipment | $ 39,766 | $ 39,766 | 31,533 | ||
Operating loss carry forwards percentage | 50% | 50% | |||
Deferred revenue | $ 51,185 | $ 51,185 | $ 7,085 | ||
Net Income (Loss) | $ (414,138) | $ 569,195 | $ 2,257,830 | $ 991,685 | |
Mike J Bledsoe [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Options exercised | 1,000,000 | ||||
Stock option exercise price | $ 0.025 | ||||
Michelle Fisher [Member] | |||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | |||||
Options exercised | 250,000 | ||||
Stock option exercise price | $ 0.02 |
BUSINESS CONDITION (Details Nar
BUSINESS CONDITION (Details Narrative) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Business Condition | ||
Cash | $ 2,006,618 | $ 442,657 |
Inventory | 1,794,416 | 1,237,872 |
Prepaid inventory | $ 852,753 | $ 374,926 |
ACCOUNTS RECEIVABLE (Details Na
ACCOUNTS RECEIVABLE (Details Narrative) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Credit Loss [Abstract] | ||
Allowance for doubtful accounts | $ 18,469 | $ 18,469 |
ACCOUNTS RECEIVABLE, OTHER RE_2
ACCOUNTS RECEIVABLE, OTHER RECEIVABLES (Details Narrative) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Operating Loss Carryforwards [Line Items] | ||
Other receivables | $ 45,370 | $ 13,312 |
Employee [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Other receivables | 800 | |
Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Other receivables | $ 44,570 |
SCHEDULE OF PREPAID EXPENSES (D
SCHEDULE OF PREPAID EXPENSES (Details) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Prepaid Expenses | ||
Prepaid insurance | $ 17,464 | $ 8,891 |
Prepaid tradeshows | 43,480 | 34,316 |
Prepaid inventory | 852,753 | 374,926 |
Prepaid software | 21,677 | 16,287 |
Prepaid other | 19,543 | 1,698 |
Total Prepaid Expenses | $ 954,917 | $ 436,118 |
COMMON AND PREFERRED STOCK TR_2
COMMON AND PREFERRED STOCK TRANSACTIONS (Details Narrative) - USD ($) | 9 Months Ended | |
Dec. 31, 2023 | Mar. 31, 2023 | |
Equity [Abstract] | ||
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, par value | $ 0 | $ 0 |
Common stock, shares issued | 124,733,494 | 125,732,479 |
Common stock, shares outstanding | 124,733,494 | 125,732,479 |
Stovk option plan expense | $ 0 | |
Repurchased shares | 998,985 | |
Share price | $ 0.065 | |
Repurchased value | $ 64,933 | |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
NOTES PAYABLE (Details Narrativ
NOTES PAYABLE (Details Narrative) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Debt Disclosure [Abstract] | ||
Notes payable | $ 0 | $ 0 |
SCHEDULE OF FUTURE MINIMUM LEAS
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details) | Dec. 31, 2023 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2024 | $ 27,272 |
2025 | 82,330 |
2026 | 38,892 |
2027 | 43,232 |
2028 | 48,024 |
2029 | 53,315 |
2030 | 20,040 |
Total | $ 313,105 |
SCHEDULE OF LEASE PAYABLE (Deta
SCHEDULE OF LEASE PAYABLE (Details) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Commitments and Contingencies Disclosure [Abstract] | ||
Right of use assets | $ 301,569 | $ 173,352 |
Lease payable | 90,657 | 103,026 |
Lease payable | 222,448 | $ 72,726 |
Total lease payable | $ 313,105 |
SCHEDULE OF SUPPLEMENTAL CASH F
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO OPERATING LEASES (Details) | 9 Months Ended |
Dec. 31, 2023 USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | |
Operating cash paid to settle lease liabilities | $ 82,006 |
Right of use asset additions in exchange for lease liabilities | |
Weighted average remaining lease term | 6 years 3 months 18 days |
Weighted average discount rate | 10% |
COMMITMENTS AND CONTINGENCIES_2
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) | 9 Months Ended | ||||
Sep. 16, 2021 | Mar. 03, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Nov. 03, 2023 | |
Office and Warehouse [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Lease term | 19 months 15 days | ||||
Lease expiration | Oct. 31, 2024 | Oct. 31, 2021 | |||
Price per square foot | $ 0.60 | ||||
Lease rental expense | $ 6,800 | ||||
Increase in lease rent | $ 200 | ||||
Lease expense | $ 80,020 | $ 79,093 | |||
Equipment [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Lease term | 63 months | ||||
Lease expense | $ 28,596 | $ 23,922 |
SCHEDULE OF ACCOUNTS PAYABLE (D
SCHEDULE OF ACCOUNTS PAYABLE (Details) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Payables and Accruals [Abstract] | ||
Accounts payable | $ 357,893 | $ 18,814 |
Credit cards payable | 6,543 | 9,113 |
Total | $ 364,436 | $ 27,927 |
SCHEDULE OF ACCRUED EXPENSES (D
SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Payroll Liabilities Accrued Expenses | ||
Payroll liabilities | $ 93,184 | $ 201,724 |
Sales tax payable | 5,184 | 3,399 |
State income tax payable | 21,108 | |
Production printer accrued expenses | 9,990 | |
Total | $ 108,358 | $ 226,231 |
INCOME TAXES (Details Narrative
INCOME TAXES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Dec. 31, 2023 | Mar. 31, 2023 | |
Income Tax Disclosure [Abstract] | |||
Deferred tax asset | $ 1,011,466 | ||
Effective tax rate | 0% | 0% | (57.00%) |
Federal statutory effective income tax rate | 21% | 21% | |
State statutory effective income tax rate | 7% | 7% | |
Valuation allowance effective income tax rate | 0% | 0% |
DILUTIVE INSTRUMENTS (Details N
DILUTIVE INSTRUMENTS (Details Narrative) - shares | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Mar. 31, 2023 | |
Dilutive Instruments | ||
Dilutive instrument outstanding | 0 | 0 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($) | 12 Months Ended | |||||||||
Aug. 21, 2021 | Jun. 01, 2019 | Apr. 19, 2019 | Aug. 21, 2018 | Feb. 01, 2017 | Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2022 | May 31, 2019 | Mar. 31, 2017 | |
Mike J Bledsoe [Member] | Non Convertible Promissory Note [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Promissory notes | $ 50,000 | $ 50,000 | $ 50,000 | $ 50,000 | ||||||
Debt instrument interest rate | 10% | 20% | ||||||||
Maturity date | May 31, 2021 | Apr. 30, 2017 | May 01, 2022 | |||||||
Accrued interest | $ 23,342 | $ 36,805 | $ 23,342 | |||||||
Mike J Bledsoe [Member] | 2009 Equity Plan [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Granted stock options | 1,000,000 | |||||||||
Volatility rate | 254.03% | |||||||||
Risk free rate | 0.27% | |||||||||
Options vested, exercisable | $ 0.025 | |||||||||
new issues for options | $ 1,000,000 | |||||||||
Strike price | $ 0.025 | |||||||||
ToddR Hackett [Member] | Promissory Note One [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Promissory notes | $ 1,292,679 | |||||||||
ToddR Hackett [Member] | Promissory Note Two [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Promissory notes | 175,000 | |||||||||
ToddR Hackett [Member] | Promissory Note Three [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Promissory notes | 340,000 | |||||||||
ToddR Hackett [Member] | Promissory Note [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Promissory notes | $ 220,648 | |||||||||
Debt instrument interest rate | 10% | |||||||||
ToddR Hackett [Member] | One Promissory Note [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items] | ||||||||||
Promissory notes | $ 1,688,327 | $ 1,443,327 | $ 1,443,327 | $ 1,443,327 | ||||||
Debt instrument interest rate | 10% | |||||||||
Maturity date | Apr. 20, 2020 | May 01, 2022 | May 01, 2021 | |||||||
Interest accrued | $ 142,210 | |||||||||
Debt instrument periodic payment | $ 245,000 |