NOTE 9. LEASES

6 Months Ended

Sep. 30, 2025

NOTE 9. LEASES

We conduct our operations in a leased facility under a non-cancellable operating lease expiring May 31, 2031. Our lease does not provide an implicit interest rate, so we used our incremental borrowing rate to determine the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term. Effective November 4, 2024 we executed an Amendment extending our lease, which would have expired March 31, 2026 without the Amendment. Details of our lease are as follows:

	Quarter Ended Sept. 30				Six Months Ended Sept. 30
	2025			2024	2025			2024
Operating lease cost	$	48,214		37,754	$	96,429		75,507

Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for leases	$	(53,751	)	43,341	$	(7,503	)	90,682
Right-of-use assets obtained in exchange for new lease liabilities
Operating lease	$	710,665			$	710,665
Remaining lease term		68 months		18 months		68 months		18 months
Discount rate		7.8%		3.5%		7.8%		3.5%

The following table shows the maturities of lease liabilities as of September 30, 2025:

Year Ending March 31,	Operating Lease Liabilities
2026		92,497
2027		172,142
2028		213,284
2029		220,216
2030		227,373
2031		234,762
2032		40,399
Total lease payments		1,200,673
Imputed lease interest		(238,331	)
Total lease liabilities	$	962,342

NVE CORP /NEW/ 10-Q