Quarterly report pursuant to Section 13 or 15(d)

LEASES

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LEASES
 9 Months Ended
Dec. 31, 2022
Leases [Abstract]  
LEASES LEASES
The Company determines whether a contract contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When readily determinable, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate.

The following table presents as of December 31, 2022, the annual maturities of the lease liabilities:
Twelve months ended March 31,
  
2023 $ 2,248
2024 6,154 
2025 5,965 
2026 5,705 
2027 4,743 
Thereafter 6,733 
Total payments 31,548 
Less: amounts representing interest 7,373 
Lease liability, net $ 24,175 
Weighted average remaining lease term (in months) 23
Weighted average discount rate 12  %
Lease commitments for short term operating leases as of December 31, 2022, was approximately $258. The Company’s lease expense for office space was $1,414 and $2,530 for the three and nine months ended December 31, 2022, and $286 and $777 December 31, 2021, respectively.