v3.25.3
INTERNAL-USE SOFTWARE
6 Months Ended
Sep. 30, 2025
Research and Development [Abstract]  
INTERNAL-USE SOFTWARE

NOTE 5 – INTERNAL-USE SOFTWARE

 

As of September 30, 2025, the Company had capitalized costs of $4,070,000 relating to the acquisition of MEI’s Millenium Payment Hub platform (“MPH”). The Company also had capitalized costs of $551,683 relating to the Parent internal-use software. The parent internal-use software was developed by a third party and passed the preliminary project stage prior to capitalization. For the three months and six months ended September 30, 2025, the Company did not incur any internal-use software development costs on the parent company software. Amortization of the internal-use software of the Parent will begin once the software is placed in service, which management has determined will start once service revenues begin.

 

   Useful Life (Years)  September 30, 2025   March 31, 2025 
Prepaid Debit/Credit Card software  -  $551,683   $551,683 
Millenium Payment Hub platform  10   4,070,000    4,070,000 
Less: Accumulated amortization      (323,862)   (120,362)
Total     $4,297,821   $4,501,321 

 

The carrying value of the MPH software and related accumulated amortization is summarized in the table below:

 

  

Millenium

Payment Hub

 
Carrying value of MPH software - date of acquisition December 13, 2024 (Subject to measurement period revaluation – See Note 4)  $4,070,000 
Additions   - 
Less: Accumulated amortization   (323,862)
Carrying value of MPH software at September 30, 2025  $3,746,138 

 

Amortization expense for the three months and six months ended September 30, 2025 totaled $101,750 and $203,500, and is included in general and administrative expense.

 

Total estimated future amortization expense for the intangible asset is as follows:

 

Fiscal Year ending March 31,    
2026  $203,500 
2027   407,000 
2028   407,000 
2029   407,000 
2030   407,000 
Thereafter   1,914,638 
Total  $3,746,138