INTANGIBLE ASSETS PURCHASE

9 Months Ended

Dec. 31, 2024

NOTE 5 – INTANGIBLE ASSETS PURCHASE

On December 29, 2022, the Company entered into a software purchase agreement with Noise Comms Ltd. for the acquisition of software for a Unified Communications Platform which enables multi-party communications between brands and consumers in consideration of 20,000,000 shares of common stock. For the last six years, the director and COO of the Company has been operating Noise Comms Ltd and is the sole shareholder, COO and director. On January 9, 2023, the Company issued 20,000,000 shares of common stock at $0.0129 deemed share price (based on the latest arm-length share transaction price in April 2022) to Noise Comms Ltd. for the acquisition of the software valued at $258,000.

The software is amortized over estimated useful life of seven years following launch of the service commenced from the 4th quarter of fiscal year 2023 (three months ended March 31, 2024). During the nine months ended December 31, 2024, the amortization expense was $27,642. As of December 31, 2024 and March 31, 2024, the intangible asset was $221,144 and $248,786, respectively. Based on the carrying value of finite-lived intangible assets as of December 31, 2024, the amortization expense for the next seven years will be as follows:

	Amortization
Year Ended March 31,	Expense
2025 (excluding nine months ended December 31, 2024)	$	9,215
2026		36,857
2027		36,857
2028		36,857
2029		36,857
Thereafter		64,500
	$	221,144

Caro Holdings Inc. 10-Q