Form 10-Q - Quarterly report [Sections 13 or 15(d)]

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended June 30, 2023

 

or

 

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

FOR THE TRANSITION FROM ______ TO ______.

 

Commission File Number: 0-55698

 

DUO WORLD, INC.

(Exact name of registrant as specified in its charter)

 

Nevada		35-2517572
(State or other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)

 

c/o Duo Software (Pvt.) Ltd. No. 6, Charles Terrace, Off Alfred Place Colombo 03, Sri Lanka		Not applicable
(Address of principal executive offices)		(Zip code)

 

Registrant’s telephone number: [phone]

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Title of each class		Trading Symbol(s)		Name of exchange on which registered

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically and posted on its Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Sec.232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐	Accelerated filer ☐
Non-accelerated filer ☐	Smaller reporting company ☒
	Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

  

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Yes ☐ No ☒

 

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS

DURING THE PRECEDING FIVE YEARS

 

Indicate by check mark whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

 

APPLICABLE ONLY TO CORPORATE ISSUERS

 

State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date: As of August 17, 2023, there were 88,375,838 outstanding shares of the Registrant’s Common Stock, $.001 par value.

 

 

 

 

 

EXPLANATORY NOTE

 

This Quarterly Report has been reviewed by Duo World, Inc.’s newly engaged Independent Registered Public Accounting Firm, M. N. Vijay Kumar, Bangalore, India, in accordance with the standards of the Public Company Accounting Oversight Board (“PCAOB”).

 

INDEX

 

	Page
PART I – FINANCIAL INFORMATION	F-1
Item 1. Financial Statements.	F-1
Notes to Financial Statements (Unaudited)	F-7
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	3
Item 3. Quantitative and Qualitative Disclosures about Market Risk	10
Item 4. Controls and Procedures	10
PART II – OTHER INFORMATION	10
Item 1. Legal Proceedings.	10
Item 1A. Risk Factors	10
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	10
Item 3. Defaults Upon Senior Securities	10
Item 4. Mine Safety Disclosure	10
Item 5. Other Information.	10
Item 6. Exhibits	10
SIGNATURES	11

 

2

 

 

PART I – FINANCIAL INFORMATION

 

Item 1. Financial Statements.

 

Duo World, Inc. and Subsidiaries

Consolidated Financial Statements

June 30, 2023

 

F-1

 

 

CONTENTS

 

	Page(s)
Consolidated Balance Sheets - June 30, 2023 (unaudited) and March 31, 2023	F-3
Consolidated Statements of Operations and Comprehensive Income / (Loss) for the three months ended June 30, 2023 and June 30, 2022 (unaudited)	F-4
Consolidated Statements of Cash Flows for the June 30, 2023 and June 30, 2022 (unaudited)	F-5
Consolidated Statement of Changes in Shareholders’ Deficit for the June 30, 2023 (unaudited) and March 31, 2023	F-6
Notes to the Consolidated Financial Statements (unaudited)	F-7 – F-20

 

F-2

 

 

Duo World, Inc. and Subsidiaries

Consolidated Balance Sheets

 

		June 30, 2023				March 31, 2023
		(Un-audited)				(Un-audited)
ASSETS
Current Assets
Cash and cash equivalents		$	5,043			$	18,712
Accounts receivable - trade			20,932				1,683
Prepaid expenses and other current assets			77,089				73,904
Accrued revenue			4,954				774
Total Current Assets			108,018				95,073
Non Current Assets
Property and equipment, net of accumulated depreciation of $143,126 and $139,483 respectively			10,073				10,545
Intangible assets, net			239,559				242,627
Lease - Right to use Asset			12,858				14,194
Goodwill			104,420				104,420
Total Non Current Assets			366,910				371,786
Total Assets		$	474,928			$	466,859
LIABILITIES and SHAREHOLDERS’ DEFICIT
Current Liabilities
Accounts payable		$	429,380			$	415,766
Payroll, employee benefits, severance			326,691				309,097
Due to related parties			648,272				600,711
Payable for acquisition			185,762				185,762
Taxes payable			111,737				106,085
Accruals and other payables			110,407				106,855
Deferred revenue			11,537				1,343
Total Current liabilities			1,823,786				1,725,619
Long Term Liabilities
Due to related parties			563,400				534,552
Employee benefit obligation			17,426				14,290
Lease liability			14,633				15,061
Total Long Term liabilities			595,459				563,903
Total liabilities		$	2,419,245			$	2,289,522
Commitments and contingencies (Note 17)
Shareholders’ Deficit
Ordinary shares: $0.001 par value per share; 400,000,000 shares authorized; 88,375,838 and  88,375,838 shares issued and outstanding, respectively		$	88,376			$	88,376
Convertible series “A” preferred shares: $0.001 par value per share; 10,000,000 shares authorized; 5,000,000 and 5,000,000 shares issued and outstanding, respectively			5,000				5,000
Additional paid in capital			12,293,480				12,293,480
Accumulated deficit			(15,738,360	)			(15,708,227	)
Accumulated other comprehensive income			1,302,156				1,393,540
Non controling interest			105,032				105,168
Total shareholders’ deficit			(1,944,317	)			(1,822,663	)
Total Liabilities and Shareholders´ Deficit		$	474,928			$	466,859

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-3

 

 

Duo World, Inc. and Subsidiaries

Consolidated Statements of Operations and Comprehensive Income (Loss)

(Un-audited)

 

		For the three months ended,
		June 30, 2023				June 30, 2022
Revenue		$	19,330			$	12,253
Cost of revenue (exclusive of depreciation presented below)			(2,253	)			(9,602	)
Gross Income			17,077				2,651
Operating Expenses
General and administrative			34,740				33,352
Salaries and casual wages			16,219				6,246
Selling and distribution			1,413				107
Depreciation			2,695				282
Amortization of web site development			733				380
Total operating expenses			55,800				40,367
Loss from operations		$	(38,723	)		$	(37,716	)
Other income (expenses):
Interest expense		$	(698	)		$	-
Other income			9,132				51,678
Gain / (Loss) on disposals			81				1,939
Bank charges			(58	)			(39	)
Exchange (loss) / gain			(1	)			(24,649	)
Total other income (expenses)			8,454				28,929
Profit/loss before provision for income taxes:		$	(30,269	)		$	(8,787	)
Tax Expense:
Provision for income taxes			-				-
Foreign taxes – withheld			-				-
Profit/(loss)		$	(30,269	)		$	(8,787	)
Profit/ (loss) attributable to non controling interest			(136	)			-
Net Profit/(loss)		$	(30,133	)		$	(8,787	)
Basic and Diluted Loss per Share		$	(0.00	)		$	(0.00	)
Basic and Diluted Weighted Average Number of Shares Outstanding			138,375,838				124,681,773
Comprehensive Income (Loss):
Unrealized foreign currency translation (loss) gain		$	(91,384	)		$	315,749
Profit/(loss)			(30,133	)			(8,787	)
Comprehensive Income/ (Loss)		$	(121,517	)		$	306,962

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-4

 

 

Duo World, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

(Un-audited)

 

		For the Period ended,
		June 30, 2023				June 30, 2022
Operating activities:
Profit/(loss) before provision for income taxes		$	(30,133	)		$	(8,787	)
Adjustments to reconcile loss before provision for income taxes to cash provided by operating activities:
Depreciation and amortization			3,428				661
Gain on disposals of property and equipment			(81	)			(1,939	)
Product development cost written off			-				8,137
Changes in assets and liabilities:
Fixed deposits			-				(16,865	)
Accounts receivable - trade			(19,249	)			(11,603	)
Prepayments			(7,366	)			9,788
Lease - Right to use Asset			(751	)			-
Accounts Payable			13,614				(57,490	)
Payroll, employee benefits, severance			17,594				(64,619	)
Short term overdraft			-				(16	)
Due to related parties			76,409				(98,999	)
Taxes payable			5,652				(21,389	)
Retirement Benefit			3,137				(4,769	)
Lease liability			(428	)			-
Accruals and other payables			13,747				16,884
Net cash provided by operating activities		$	75,573			$	(251,006	)
Investing activities:
Acquisition of property and equipment			(564	)			(3,632	)
Sale proceeds of disposal of Property and Equipment			81				1,939
Non controlling interest			(136	)			-
Net cash used in investing activities		$	(619	)		$	(1,693	)
Financing activities:
Proceeds from issuance of common Stock			-				1,020
Additional paid in capital			-				8,980
Net cash provided by financing activities		$	-			$	10,000
Effect of exchange rate changes on cash			(88,623	)			258,632
Net decrease in cash		$	(13,669	)		$	15,934
Cash, beginning of period			18,712				23,613
Cash, end of period		$	5,043			$	39,547
Supplemental disclosure of cash flow information:
Cash paid for interest		$	698			$	-
Cash paid for income taxes		$	-			$	-
Supplemental disclosure of non-cash investing and financing activities:
Common shares issued for services		$	-			$	-
Amortization of Operating Lease		$	2,087			$	-

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-5

 

 

Duo World, Inc. and Subsidiaries

Consolidated Statement of Changes in Shareholders’ Deficit

 

		Common Share Capital								Preferred Share Capital								Additional Paid-in				Accumulated				Other Comprehensive				Non Controlling				Total Shareholders’
		Shares				Amount				Shares				Amount				Capital				Deficit				Income				Interest				Deficit
March 31, 2022			74,109,896				74,110				5,000,000				5,000				12,190,746				(16,375,232	)			1,245,916				-				(2,859,460	)
Stock issued			14,265,942				14,266				-				-				102,734				-				-				-				117,000
Net profit			-				-				-				-				-				667,005				-				-				667,005
Other comprehensive income			-				-				-				-				-				-				147,624				-				147,624
Non controlling interest			-				-				-				-				-				-				-				105,168				105,168
March 31, 2023			88,375,838				88,376				5,000,000				5,000				12,293,480				(15,708,227	)			1,393,540				105,168				(1,822,663	)
Net profit			-				-				-				-				-				(30,133	)			-				-				(30,133	)
Other comprehensive income			-				-				-				-				-				-				(91,384	)			-				(91,384	)
Non controlling interest			-				-				-				-				-				-				-				(136	)			(136	)
June 30, 2023			88,375,838				88,376				5,000,000				5,000				12,293,480				(15,738,360	)			1,302,156				105,032				(1,944,317	)

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-6

 

 

Duo World Inc. and Subsidiaries

Notes to Consolidated Financial Statements

June 30, 2023 and 2022

 

Note 1 - Organization and Nature of Operations

 

Duo World Inc. (hereinafter referred to as “Successor” or “Duo”) a reporting company since September 26, 2016, was organized under the laws of the state of Nevada on September 19, 2014. Duo Software (Pvt.) Limited (hereinafter referred to as “DSSL” or “Predecessor”), a Sri Lanka based company, was incorporated on September 22, 2004, in the Democratic Socialist Republic of Sri Lanka, as a limited liability company. Duo Software (Pte.) Limited (hereinafter referred to as “DSS” or “Predecessor”), a Singapore based company, was incorporated on June 05, 2007 in the Republic of Singapore as a limited liability company. Dial Desk (Pte) Limited (hereinafter referred to as “DDPL” or “Predecessor”), a Singapore based company, was incorporated on September 22, 2022 in the Republic of Singapore as a limited liability company.

 

On December 03, 2014, Duo Software (Pvt.) Limited (DSSL) and Duo Software Pte. Limited (DSS) executed a reverse recapitalization with Duo World Inc. (Duo). See Note 4, and on September 30, 2022 Duo acquired 80% of Dial Desk (Pte) Limited. Duo (Successor) is a holding company that conducts operations through its wholly owned subsidiaries DSSL and DSS (Predecessors) and 80% own subsidiary DDPL in Sri Lanka and Singapore. The consolidated entity is referred to as “the Company”. The Company, having its development center in Colombo, has been in the space of developing products and services for the subscription-based industry. The Company’s applications (“Facetone”, Dial Desk and “SmoothFlow”) provide solutions in the space of Customer Life Cycle Management and Work Flow.

 

Note 2 - Basis of Presentation

 

The Company has prepared the accompanying consolidated financial statements and accompanying notes in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All amounts in the consolidated financial statements are stated in U.S. dollars.

 

We have recast certain prior period amounts to conform to the current period presentation, with no impact on consolidated net income or cash flows.

 

Going Concern

 

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

 

As reflected in the accompanying consolidated financial statements, the Company had a net loss of $30,133 and $8,787 for the three months ended June 30, 2023 and 2022, respectively; net cash provided by operations of $75,573 and $(251,006) for the three months ended June 30, 2023 and 2022, respectively; working capital deficit of $1,715,768 and $1,630,546 as of June 30, 2023 and March 31, 2023, respectively; outstanding statutory dues towards employee provident fund and employee trust fund of $234,632 and $220,790 as of June 30, 2023 and March 31, 2023, respectively; and a stockholders´ deficit of $1,944,317 and $1,822,663 as of June 30, 2023 and March 31, 2023, respectively.

 

The Company has launched its new cloud-based product Dial Desk and is expecting revenue from the new product. Further, the Company was able increase the revenue and reduce the Cost of Sales during the period. Considering these trends, the management is confident that the Company will generate sufficient profits to offset the operating losses in the recent future.

 

F-7

 

 

Note 3 - Summary of Significant Accounting Policies

 

Basis of Consolidation

 

The accompanying consolidated Financial Statements include the accounts and transactions of DSSL and DSS (Predecessors) and Duo (Successor). Duo World Inc. is the parent company of its 100% subsidiaries Duo Software (Pvt.) Limited (DSSL), Duo Software Pte. Limited (DSS), and its 80% owned subsidiary of Dial Desk Pte. Limited.

 

Use of Estimates and Assumptions

 

The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Making estimates and assumptions requires management to exercise significant judgment. It is least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future non-confirming events. Accordingly, the actual results could differ from those estimates and assumptions. The most significant estimates relate to the timing and amounts of revenue recognition, the recognition and disclosure of contingent liabilities and the collectability of accounts receivable.

 

Risks and Uncertainties

 

The Company’s operations are subject to significant risk and uncertainties including financial, operational, competition and potential risk of business failure. Product revenues are concentrated in the application software industry, which is highly competitive and rapidly changing. Significant technological changes in the industry or customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect operating results.

 

Concentrations of Credit Risk

 

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with various high quality financial institutions and we monitor the credit ratings of those institutions. The Company’s sales are primarily to the companies located in Sri Lanka. The Company performs ongoing credit evaluations of our customers, and the risk with respect to trade receivables is further mitigated by the diversity, both by geography and by industry, of the customer base. Accounts receivable are due principally from the companies understated contract terms.

 

Provisions

 

A provision is recognized when the company has present obligations because of past event and when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligations and reliable estimate can be made of amount of the obligation. Provisions are not discounted at their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

 

Accounts Receivable and Provision for Doubtful Accounts

 

The Company recognizes accounts receivable in connection with the products sold and services provided and has strong policies and procedures for the collection receivables from its clients. However, there are inevitably occasions when the receivables due to the Company cannot be collected and, therefore, have to be written off as bad debts. While the debt collection process is being pursued, an assessment is made of the likelihood of the receivable being collectable. A provision is therefore, made against the outstanding receivable to reflect that component that may not become collectable. The Company is in the practice of provisioning for doubtful debts based on the period outstanding as per the following:

 

Trade receivables outstanding:		Provision
Over 24 months			100	%
Over 18 months			50	%
Over 15 months			25	%
Over 12 months			10	%
Over 9 months			5	%

 

F-8

 

 

Cash Equivalents

 

The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of June 30, 2023, and March 31, 2023, there were no cash equivalents.

 

Foreign Currency Translation

 

The functional currencies of the Company’s foreign subsidiaries are their local currencies. For financial reporting purposes, these currencies have been converted into United States Dollars ($) and/or USD as the reporting currency. All assets and liabilities denominated in foreign functional currencies are converted into U.S. dollars at the closing exchange rate on the balance sheet date and equity balances are converted at historical rates. Revenues, costs and expenses in foreign functional currencies are converted at the average rate of exchange during the period. Conversion adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders’ deficit as “accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statement of operations and comprehensive income /(loss) as other income (expense).

 

Property and Equipment

 

Fixed assets (including leasehold improvements) are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed utilizing the straight-line method over the estimated useful lives of the related assets. The estimated salvage value is considered as NIL. Amortization of leasehold improvements is computed utilizing the straight-line method over the estimated benefit period of the related assets, which may not exceed 15 years, or the lease term, if shorter. Repairs and maintenance expenditures, which are not considered improvements and do not extend the useful life of the property and equipment, are expensed as incurred. In case of sale or disposal of an asset, the cost and related accumulated depreciation are removed from the consolidated financial statements.

 

Useful lives of the fixed assets are as follows:

 

Furniture & fittings		5 years
Improvements to lease hold assets		Lease term
Office equipment		5 years
Computer equipment (Data processing equipment)		3 years
Website development		4 years

 

Impairment of Long-Lived Assets

 

The Company reviews long-lived assets, such as property, plant, and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of by sale would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.

 

Fair Value Measurements and Fair Value of Financial Instruments

 

The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability.

 

The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

 

F-9

 

 

Post Retirement Benefit Plan

 

The Company has gratuity as post-employment plan for all the eligible employees. The recognition for the gratuity plan is as below:-

 

The expected postretirement benefit obligation (“EPBO”) is the actuarial present value (“APV”) as of a specific date of the benefits expected to be paid to the employee, beneficiaries, and covered dependents.

 

Measurement of the EPBO is based on the following:

 

1. Expected amount and timing of future benefits

 

2. Expected future costs

 

3. Extent of cost sharing

 

The EPBO includes an assumed salary progression for a pay-related plan. Future compensation levels represent the best estimate after considering the individual employees involved, general price levels, seniority, productivity, promotions, indirect effects, and the like.

 

The Accumulated postretirement benefit obligation (“APBO”) is the APV as of a specific date of all future benefits attributable to service by an employee to that date. It represents the portion of the EPBO earned to date. After full eligibility is attained, the APBO equals the EPBO. The APBO also includes an assumed salary progression for a pay-related plan.

 

Revenue Recognition, Deferred & Accrued Revenue

 

The Company recognizes revenue from the sale of software licenses and related services. The Company revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606, Revenue from contract with customers. Revenue is recognized when the Company transferred promised goods and services to the customer and in the amount that reflect the consideration to which the company expected to be entitled in exchange for those goods and services.

 

The following five steps are followed in recognizing revenue from contracts:

 

	●	Identify the Contract(s) with the customer;
	●	Identify the performance obligation of the contract;
	●	Determine the transaction price;
	●	Allocate the transaction price to the performance obligations in the contract and;
	●	Recognize revenue when or as the company satisfies a performance obligation.

 

The consideration for the transaction [performance obligation(s)] is determined as per the agreement, contract or invoice for the services and products.

 

Facetone

 

‘Facetone’ is a communication and collaboration platform, which provides users the capability of operating and running a high performance contact center operation efficiently while saving cost and maximizing revenue opportunities. In-built Facetone CRM feature provides the opportunity for contact centers to deliver a superior customer experience and build a better relationship by linking customers and data in real time.

 

Smoothflow

 

Smoothflow automates customer engagements, including building ChatBots, VoiceBots and IoTBots to deliver an Omni channel customer service experience. The product uses the power of artificial intelligence to keep improving the conversational flow and user experience.

 

F-10

 

 

DialDesk

 

DialDesk is a SaaS contact center software which caters the SME segment of the market with its low cost, cloud based platform. Businesses can buy their virtual number from DialDesk and set up their contact center within few minutes. With its easy to uses user interface and agility, DialDesk will help businesses improve the productivity of their contact center operations.

 

Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities.

 

Nature of Products and Services

 

Licenses for on premise software– The Company sells a perpetual nonexclusive license to the customer and enables the customer to install and use the software and its documentation. Price per customer varies based on the selection of the products licensed, the number of site installations and the number of authorized users. The product offered on this basis is “Facetone-enterprise.”

 

Enterprise software solutions– The Company distributes its software product ‘Facetone- hosted version” with third party telecommunication companies. It is a revenue model where the telecommunication provider hosts the Company’s software applications and makes them available to its customers over the Internet for a monthly subscription fee. The Company charges telecommunication providers a monthly license fee calculated according to number of licenses sold.

 

Cloud services- The Company sells its product Smoothflow as a “SaaS” product (Software-as-a-Service) and services are provided on a monthly subscription model.

 

AMC Services- The Company offers annual maintenance programs on its licenses that provide for technical support and updates to the Company’s software products. Initial annual maintenance fees are bundled with license fees in the initial licensing period and recognized when the performance obligation of license fee is met. Revenue is recognized ratably, or daily, over the term of the maintenance period, which is typically one year.

 

For the three months ended June 30, 2023 and 2022, the Company received only cash as consideration for sale of licenses and related services and not in kind.

 

For the three months ended June 30, 2023 and 2022, the Company had following concentrations of revenues with customers:

 

Customer		June 30, 2023				June 30, 2022
A			20.88	%			28.21	%
B			17.44	%			24.70	%
C			17.39	%			22.79	%
D			10.32	%			14.58	%
E			25.09	%			0.00	%
Other misc. customers			8.88	%			9.72	%
			100.00	%			100.00	%

 

For the three months ended June 30, 2023 and 2022, the company had the following sales by products:

 

Product		June 30, 2023				June 30, 2022
Facetone		$	16,142			$	9,746
Software hosting and reselling			3,188				2,507
		$	19,330			$	12,253

 

F-11

 

 

Significant Judgments

 

The Company’s contracts with customers include multiple Software products and services to deliver and in most of the contracts, the price of the separately identifiable features are stated separately. In the event the price of the multiple products and services are not mentioned in the agreement, the Company allocates transaction price estimating the standalone selling price of the promised products and the services. The determination of stand-alone selling price for each performance obligation requires judgments. The Company determines stand-alone selling price for performance obligations based on overall pricing strategies, which consider markets in which the Company operates, historical data analysis, number of users of the product or services, size of the customer and the market price of the hardware used.

 

Contract Balances

 

When the timing of revenue recognition differs from the timing of invoicing for contracts with customers, differed revenue and accrued revenue/unbilled accounts receivable are recognized by the Company. Revenues under Software Implementation contracts are invoiced on stages of completion as stipulated in the agreement and the revenue is recognized when the performance obligations are met and customer signs the user acceptance test (UAT). The Company invoices software license fees and royalty fees at the end of the period according to the customer agreement and accrued revenue/unbilled revenue is recognized for the relevant period. The maintenance fee is invoiced beginning of the period and the Company recognizes as deferred revenue in the financial statements and is ratably recognized over a period of service.

 

The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence.

 

Refer Note- 5 for “Accounts receivables and Provision for doubtful debts”

 

Segment Information

 

The Company has determined that its Chief Executive Officer is its Chief Operating Decision Maker. The Company’s executive reviews financial information presented on a consolidated basis for the purposes of assessing the performance and making decisions on how to allocate resources. Accordingly, the Company has determined that it operates in a single reportable segment.

 

Deferred Revenue - Deferred revenue represents advance payments for software licenses, services, and maintenance billed in advance of the time revenue is recognized. As at June 30, 2023 and March 31, 2023 the Company recognized deferred revenue $11,537 and $1,343, respectively.

 

Accrued Revenue/Unbilled Accounts Receivable - Accrued revenue/Unbilled accounts receivable primarily occur due to the timing of the respective billings, which occur subsequent to the end of each reporting period. As at June 30, 2023 and March 31, 2023, unbilled /accrued revenues were $4,954 and $774, respectively. 

 

The Company had no contract liabilities and assets recognized for cost to fulfill a requirement of a customer as at June 30, 2023.

 

F-12

 

 

Cost of Revenue

 

Cost of revenue mainly includes purchases, product implementation costs, amortization of product development, developer support and implementation, and consultancy fees related to the products offered by the Company. The aggregate cost related to the software implementations, including support and consulting services pertaining to the revenue recognized during the reporting period, is recognized as Cost of Revenue.

 

Product research and development

 

Product research and development expenses consist primarily of salary and benefits for the Company’s development and technical support staff, contractors’ fees and other costs associated with the enhancements of existing products and services and development of new products and services. Costs incurred for software development prior to technological feasibility are expensed as product research and development costs in the period incurred. Once the point of technological feasibility is reached, which is generally upon the completion of a working prototype that has no critical bugs and is a release candidate, development costs are capitalized until the product is ready for general release and are classified within “Intangibles assets” in the accompanying consolidated balance sheets. The Company amortizes capitalized software development costs using the greater of the ratio of the product’s current gross revenues to the total of current gross revenues and expected gross revenues or on a straight-line basis over the estimated economic life of the related product, which is typically four years.

 

During the three months ended June 30, 2023 and, June 30, 2022, the Company has not capitalized product development cost.

 

Advertising Costs

 

The Company expenses advertising costs as incurred. No advertising expenses were incurred during the three months ended June 30, 2023 and 2022.

 

Income Taxes

 

The Company accounts for income taxes using the asset and liability method. 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 rates is recognized in income in the period that includes the enactment date. Deferred tax assets and liabilities are not recognized in the current financials due to recurring tax losses and the uncertainty of the realization of the tax allowances. Withholding taxes deducted from the source of income from foreign operations are debited to profit and loss account due to non-refundable status.

 

Comprehensive Income

 

The Comprehensive Income Topic of the FASB Accounting Standards Codification establishes standards for reporting and presentation of comprehensive income and its components in a full set of financial statements. Comprehensive income from April 1, 2015 through June 30, 2023, includes only foreign currency conversion gains (losses), and is presented in the Company’s consolidated statements of comprehensive income.

 

Changes in Accumulated Other Comprehensive Income (Loss) by Component during the periods ending on June 30, 2023 and March 31, 2023 were as follows:

 

Foreign Currency Translation gains (losses)
Balance, March 31, 2022		$	1,245,916
Translation rate gain (loss)			147,624
Balance, March 31, 2023		$	1,393,540
Translation rate gain (loss)			(91,984	)
Balance, June 30, 2023		$	1,302,156

 

F-13

 

 

Leases

 

Lessor

 

There are no significant changes in recognizing the Lessor under ASC 842 compared to the previous model. Changes were made to the accounting guidance of lessor and lessee, and the key aspects of the introduced model is to align the recognition criteria with new revenue recognition standard ASC 606. Under the new guidance, contract consideration is allocated to its lease components and non-lease components (such as maintenance). For the Company as a lessor, non-lease components of the contract will be accounted under ASC Topic 606, Revenue from Contracts with Customers, unless the Company elects a lessor practical expedient to not separate the non-lease components from the associated lease component. The amendments in ASU 2018-11 also provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component. To elect the practical expedient, the timing and pattern of transfer of the lease and non-lease components must be the same and the lease component must meet the criteria to be classified as an operating lease. If these criteria’s are met, the single component can be accounted either ASC 842 or ASC 606, depending on the predominant component(s). The lessor practical expedient to not separate non-lease components from the associated component must be elected for all existing and new leases.

 

As lessor, the Company expects that post-adoption substantially all existing leases will have no change in the timing of revenue recognition until their expiration or termination. The Company expects to elect the lessor’s practical expedient to not separate non-lease components such as maintenance from the associated lease for all existing and new leases and to account for the combined component as a single lease component. The timing of revenue recognition is expected to be the same for the majority of the Company’s new leases as compared to similar existing leases; however, certain categories of new leases could have different revenue recognition patterns as compared to similar existing leases.

 

For the leases that are accounted as operating leases, income is recognized on a straight-line basis over the term of the lease contract. Generally, when a lease is more than 180 days delinquent (where more than three monthly payments are owed), the lease is classified as being on nonaccrual and the Company has to stops recognizing leasing income on that date. Payments received from leases in nonaccrual status generally reduce the lease receivable. Leases on nonaccrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full.

 

Lessee

 

The Company adopted ASU 2016-02 effective April 1, 2019 using the modified retrospective approach. The new standard establishes a right-of-use model (“ROU”) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. In connection with the adoption, the Company will elect to utilize the modified retrospective presentation whereby the Company will continue to present prior period financial statements and disclosures under ASC 840. In addition, the Company will elect the transition package of three practical expedients permitted within the standard, which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company will adopt a short-term lease exception policy, permitting us to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component for certain classes of assets.

 

The Company categorizes leases at their inception as either operating or capital leases. On certain lease agreements, the Company may receive rent holidays and other incentives. The Company recognizes lease costs on a straight-line basis without considering the deferred payment terms, such as rent holidays, that defer the commencement date of required payments.

 

F-14

 

 

Recent Accounting Pronouncements

 

Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed below are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable, or the impact is expected to be immaterial.

 

The Company has reviewed the recent accounting pronouncements and believes that they will not have material impact on the Company’s financial position and results of operations.

 

Not yet adopted

 

Disclosures: In August 2018, the FASB issued ASU 2018-13. Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in the standard apply to all entities that are required, under existing GAAP, to make disclosures about recurring or nonrecurring fair value measurements. ASU 2018-13 removes, modifies, and adds certain disclosure requirements in ASC 820, Fair Value Measurement. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

 

Collaborative Arrangement: Clarifying the Interaction between Topic 808 and Topic 606, which clarifies when transactions between participants in a collaborative arrangement are within the scope of the FASB’s revenue standard, Topic 606. The standard is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

 

Intangibles-Goodwill and Other-Internal-Use Software: In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. ASU 2018-15 (Subtopic 350-40) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

 

Note 4 – Reverse Recapitalization

 

Duo (Successor) merged with DSSL (Predecessors) on December 3, 2014, and merged with DSS (Predecessors) on December 3, 2014 (Predecessors), and DSSL and DSS became the surviving corporations, in a transaction treated as a reverse recapitalization. Duo did not have any material operations and majority-voting control was transferred to DSSL.

 

In the recapitalization, Duo issued 28,000,000 shares of common stock, 5,000,000 series “A” preferred shares and $310,000 in cash in exchange for all of DSSL’s 5,000,000 issued and outstanding shares of common stock. Duo also issued 2,000,000 shares of common stock in exchange for all of DSS’s 10,000 issued and outstanding shares of common stock. The transaction resulted in DSSL’s shareholder and DSS’s shareholder acquiring approximately 100% control.

 

The transaction also required a recapitalization of DSSL and DSS. Since DSSL and DSS acquired a controlling voting interest, they were deemed the accounting acquirer, while Duo was deemed the legal acquirer. The historical financial statements of the Company are those of combined financial statements of DSSL & DSS and of the consolidated entities from the date of recapitalization and subsequent.

 

Since the transaction is considered a reverse recapitalization, the presentation of pro-forma financial information was not required. All share and per share amounts have been retroactively restated to the earliest periods presented to reflect the transaction.

 

F-15

 

 

Note 5 – Accounts Receivable

 

Following is a summary of accounts receivable as at June 30, 2023 and March 31, 2023;

 

		June 30, 2023				March 31, 2023
Accounts receivable – Trade		$	40,661			$	29,224
Less: Provision for doubtful debts			(19,729	)			(27,541	)
		$	20,932			$	1,683

 

As at June 30, 2023 and March 31, 2023, the Company had following concentrations of accounts receivables with customers:

 

Customer		June 30, 2023				March 31, 2023
A			6.57	%			39.51	%
B			3.49	%			43.51	%
C			0.00	%			0.00	%
D			0.00	%			16.98	%
E			66.14	%			0.00	%
F			23.80	%			0.00	%
			100.00	%			100.00	%

 

Note 6 – Prepaid Expenses and Other Current Assets

 

Following is a summary of prepaid expenses and other current assets as at June 30, 2023 and March 31, 2023;

 

		June 30, 2023				March 31, 2023
Dial Desk (Pvt) Ltd		$	61,103			$	57,475
Security deposits			9,634				9,361
David E. Wise IOLTA account			4,780				4,780
Prepayments			1,491				1,865
Other receivables			81				423
		$	77,089			$	73,904

 

Note 7– Property and Equipment

 

Following table illustrates net book value of property and equipment as at June 30, 2023 and March 31, 2023;

 

		June 30, 2023				March 31, 2023
Office equipment		$	1,048			$	992
Furniture & fittings			70,329				66,547
Computer equipment (data processing equipment)			60,699				57,143
Improvements to lease hold assets			274				5,254
Website development			20,849				20,092
			153,199				150,028
Accumulated depreciation and amortization			(143,126	)			(139,483	)
Net fixed assets		$	10,073			$	10,545

 

Depreciation and amortization expense for the three months ended June 30, 2023 and 2022 was $3,428 and $661, respectively.  

 

F-16

 

  

Note 8 – Intangible assets

 

Intangible assets comprise of capitalization of certain costs pertaining to products development which meets the criteria as set forth above under Note 3. Following table illustrates the movement in intangible assets as at June 30, 2023 and March 31, 2023:

 

		June 30, 2023				March 31, 2023
Opening balance		$	242,627			$	251,439
Add: Costs capitalized during the period			-				200,000
Less:							(23,843	)
Cost transferred			-				(114,436	)
Cost Written off			-				(39,803	)
Translational gain/ (loss)			(3,068	)			(30,730	)
Net Intangible Assets		$	239,559			$	242,627

 

Note 9 – Accounts Payable

 

Following is a summary of accounts payable as at June 30, 2023 and March 31, 2023:

 

		June 30, 2023				March 31, 2023
Accounts payable- employees		$	238,491			$	219,346
Supplier payable			76,589				87,369
Canagey Capital (Pvt) Ltd			42,693				40,397
Other supplier payable			40,267				38,101
EPSI Computers (Pvt) Ltd			19,419				18,374
Due to Guha Takurta			11,921				12,179
		$	429,380			$	415,766

 

Note 10 – Due to Related Parties

 

Due to Related Parties – Short term

 

From time to time, the Company receives advances from related parties such as management, directors or principal shareholders in the normal course of business. Loans and advances received from related parties are unsecured and non-interest bearing. Balances outstanding to these persons for less than 12 months are presented under current liabilities in the accompanying consolidated financial statements. As of June 30, 2023, and March 31, 2023, the Company owed directors $648,272 and $600,711, respectively.

 

Due to Related Parties – Long term

 

Balances outstanding to related parties for more than 12 months are presented under long-term liabilities in the accompanying consolidated financial statements. As of June 30, 2023, and March 31, 2023, the Company owed directors $563,400 and $534,552, respectively.

 

F-17

 

 

Note 11 – Taxes Payables

 

Taxes payable comprised of items listed below as at June 30, 2023 and March 31, 2023;

 

		June 30, 2023				March 31, 2023
PAYE		$	103,985			$	98,967
ESC Payable			5,207				4,927
WHT payable			2,542				2,188
Stamp duty payable			3				3
		$	111,737			$	106,085

 

Note 12 – Accruals and Other Payables

 

Following is a summary of accruals and other payables as at June 30, 2023 and March 31, 2023;

 

		June 30, 2023				March 31, 2023
Accruals		$	80,289			$	76,331
Other payables			17,000				17,000
Accrued interest			9,910				9,910
Audit fee payable			3,209				3,614
		$	110,407			$	106,855

 

Note 13 – Cost of Revenue

 

Following is the summary of cost of revenue for the three months ending June 30, 2023 and 2022;

 

		June 30, 2023				June 30, 2022
Developer Support and Implementation		$	1,806			$	1,249
Other external services			368				36
Purchases/ hosted servers			79				180
Product development cost written off			-				8,137
		$	2,253			$	9,602

 

Note 14 – General and Administrative Expenses

 

Following is the summary of general and administrative expenses for the three months ending June 30, 2023 and 2022;

 

		June 30, 2023				June 30, 2022
Consulting fee			10,805				15,636
Other professional services			5,112				2,855
Legal Fee			4,500				4,500
OTC market Fees			3,000				3,000
Audit fees			2,618				2,565
Gratuity			2,264				-
Director fees			1,113				-
Electricity charges			738				140
Office maintenance			683				221
Internet charges			600				413
Transfer agent fees			600				450
Secretarial fees			589				163
Staff welfare			409				360
Office rent			405				1,468
Telephone charges			397				329
Software rentals			247				226
Professional fees			205				200
Other expenses			171				166
Computer maintenance			155				162
Printing and stationery			60				412
Filling fee and subscription			44				68
Stamp duty expenses			25				18
			34,740				33,352

 

F-18

 

 

Note 15 – Selling and Distribution Expenses

 

Selling and distribution expenses for the three months ended June 30, 2023 and 2022 was $1,413 and $107, respectively.

 

Note 16 - Equity

 

(A)

Common Stock

 

As at June 30, 2023, the Company has 400,000,000 authorized common shares having a par value of $0.001. The common shares have been designated with the following rights:

 

	●	Voting rights: Common shareholders can attend at annual general meeting to cast vote or use a proxy.
	●	Right to elect board of directors: Common shareholders control the Company through their right to elect the company’s board of directors; however, the holder of our preferred stock has super-majority voting rights and has power to elect all of the Company’s board of directors.
	●	Right to share income and assets: Common shareholders have the right to share company’s earnings equally on a per-share basis in the form of dividend. Similarly, in the event of liquidation, shareholders have claim on assets that remain after meeting the obligation to accrued taxes, accrued salary and wages, creditors including bondholders (if any) and preferred shareholders. Thus, common shareholders are residual claimants of the company’s income and assets.

 

During the three months ended June 30, 2023, the Company has not issued Common shares.

 

(B)

Preferred Stock

 

As at June 30, 2023, the Company had 10,000,000 authorized series “A” preferred shares having a par value of $0.001 per share.

 

The preferred shares have been designated with the following conversion rights:

 

●

One preferred share will convert into ten (10) common shares no earlier than 24 months and 1 day after the issuance.

 

Note 17 - Commitments and Contingencies

 

The Company consults with legal counsel on matters related to litigation and other experts both within and outside the Company with respect to matters in the ordinary course of business. The Company does not have any contingent liabilities in respect of legal claims arising in the ordinary course of business.

 

F-19

 

 

Guarantees provided by the company existed on the balance sheet date are as follows:

 

Date				Description		Amount
	7/31/2014			Guarantee for SLT		$	282
	8/10/2015			Guarantee for LOLC			797
	10/9/2018			Rent deposit for office space			5,479
	10/14/2019			Security deposit for CEB			498
	10/21/2019			Security deposit for CEB			198
						$	7,254

 

Note 18 – Leases

 

The Company’s short-term leases primarily consist of office spaces with the lease term less than or equal to 12 months. The total short- term lease expenses and cash paid for the period ended June 30, 2023 and March 31, 2023 are $1,940 and $3,519, respectively. The Company has one operating lease as at June 30, 2023.

 

As per ASC 842, the Company has created a right of use lease asset of $12,858 and right of use liability of $ 14,633 as at June 30, 2023.

 

The following costs are related to the operating lease of the Company for the period ended June 30, 2023:

 

Components of total lease cost:		June 30, 2023
Operating lease depreciation		$	2,087
Operating lease interest			690
Total lease cost		$	2,777

 

Note 19 - General

 

Figures have been rounded off to the nearest dollar and the comparative figures have been re-arranged / reclassified, wherever necessary, to facilitate comparison.

 

F-20

 

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

Cautionary Forward - Looking Statement

 

The following discussion and analysis of the results of operations and financial condition of Duo World, Inc. should be read in conjunction with the unaudited financial statements, and the related notes. References to “we,” “our,” or “us” in this section refers to the Company and its subsidiaries. Our discussion includes forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. We use words such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “believe,” “intend,” “may,” “will,” “should,” “could,” and similar expressions to identify forward-looking statements.

 

Certain matters discussed herein may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties include, but are not limited to, the following:

 

	●	the volatile and competitive nature of our industry,
	●	the uncertainties surrounding the rapidly evolving markets in which we compete,
	●	the uncertainties surrounding technological change of the industry,
	●	our dependence on its intellectual property rights,
	●	the success of marketing efforts by third parties,
	●	the changing demands of customers; and
	●	the arrangements with present and future customers and third parties.

 

Should one or more of these risks or uncertainties materialize or should any of the underlying assumptions prove incorrect, actual results of current and future operations may vary materially from those anticipated.

 

Our MD&A is comprised of the following sections:

 

	A.	Business Overview
	B.	Critical Accounting Policies
	C.	Results of operations for the three months ended June 30, 2023 and June 30, 2022
	D.	Financial condition as at March 31, 2023 and June 30, 2023
	E.	Liquidity and capital reserves
	F.	Milestones for next twelve months

 

A. Business overview:

 

Duo World, Inc. (hereinafter referred to as “Successor” or “Duo”), a reporting Company since September 26, 2016, was organized under the laws of the state of Nevada on September 19, 2014. Duo Software (Pvt.) Limited (hereinafter referred to as “DSSL” or “Predecessor”), a Sri Lanka based company, was incorporated on September 22, 2004, in the Democratic Socialist Republic of Sri Lanka, as a limited liability company. Duo Software (Pte.) Limited (hereinafter referred to as “DSS” or “Predecessor”), a Singapore based company, was incorporated on June 5, 2007 in the Republic of Singapore as a limited liability company. Dial Desk (Pte) Limited (hereinafter referred to as “DDPL” or “Predecessor”), a Singapore based company, was incorporated on September 30, 2022.

 

Effective December 3, 2014, DSSL and DSS executed a reverse recapitalization with Duo. Duo (“Successor”) is a holding company that conducts operations through its wholly-owned subsidiaries, DSSL and DSS (“Predecessors”) in Sri Lanka and Singapore. The consolidated entity is referred to as the “Company.” The Company, having its development center in Colombo, Sri Lanka, specializes in the space of Customer Life Cycle Management & Contact Center solutions, Subscriber Management Billing and Automation of Workflow and Customer Engagement in the Asia Pacific Region. Driven by innovation, Duo World has served the enterprises in many ways, including efficiency, cost reduction, revenue optimization and continuous value addition to their product or service offerings. Duo World has been in the business of developing products and services for the subscription based industry.

 

Our authorized capital consists of 410,000,000 shares, including 400,000,000 shares of common stock, $0.001 par value, and 10,000,000 shares of preferred stock, $0.001 par value.

 

3

 

 

B. Critical Accounting Policies:

 

We prepare our consolidated financial statements in accordance with GAAP. The preparation of consolidated financial statements also requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses and related disclosures. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ significantly from the estimates made by our management. To the extent that there are differences between our estimates and actual results, our future financial statement presentation, financial condition, results of operations and cash flows will be affected. We believe that the accounting policies discussed below are critical to understanding our historical and future performance, as these policies relate to the more significant areas involving management’s judgments and estimates.

 

Critical accounting policies and estimates are those that we consider the most important to the portrayal of our financial condition and results of operations because they require our most difficult, subjective or complex judgments, often as a result of the need to make estimates about the effect of the matters that are inherently uncertain.

 

Revenue Recognition

 

The Company recognizes revenue from the sale of software licenses and related services. The Company’s revenue recognition policy follows guidance from Accounting Standards Codification (“ASC”) 606, Revenue from contracts with customers. Revenue is recognized when the Company transfers promised goods and services to the customer and in the amount that reflect the consideration to which the company expected to be entitled in exchange for those goods and services.

 

The following five steps are followed in recognizing revenue from contracts:

 

	●	Identify the contract(s) with the customer;
	●	Identify the performance obligation of the contract;
	●	Determine the transaction price;
	●	Allocate the transaction price to the performance obligations in the contract and;
	●	Recognize revenue when or as the Company satisfies a performance obligation.

 

The consideration for the transaction [performance obligation(s)] is determined as per the agreement, contract or invoice for the services and products.

 

Facetone

 

“Facetone” is a communication and collaboration platform, which provides users the capability of operating and running a high performance contact center operation efficiently while saving cost and maximizing revenue opportunities. In-built Facetone CRM feature provides the opportunity for contact centers to deliver a superior customer experience and build a better relationship by linking customers and data in real time.

 

Smoothflow

 

“Smoothflow” automates customer engagements, including building ChatBots, VoiceBots and IoTBots to deliver an Omni channel customer service experience. The product uses the power of artificial intelligence to keep improving the conversational flow and user experience.

 

4

 

 

Provisions

 

A provision is recognized when the Company has present obligations as a result of past events. It is probable that an outflow of resources embodying economic benefits will be required to settle the obligations and reliable estimates can be made of amount of the obligation. Provisions are not discounted at their present value and are determined based on the best estimates required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.

 

Income Taxes

 

The Company accounts for income taxes using the asset and liability method. 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 rates is recognized in income in the period that includes the enactment date. Deferred tax assets and liabilities are not recognized in the current financials due to recurring tax losses and the uncertainty of the realization of the tax allowances. Withholding taxes deducted from the source of income from foreign operations are debited to profit and loss account due to non-refundable status.

 

Quantitative and Qualitative Disclosure about Market Risk

 

We are exposed to financial market risks, primarily changes in interest rates. Market risk is the potential loss arising from adverse changes in market rates and prices.

 

Foreign Currency Exchange Risk

 

Our results of operations and cash flows are subject to fluctuations due to changes in foreign currency exchange rates. All of our revenues are normally generated in U.S. dollars or Sri Lankan rupees. Our expenses are generally denominated in the currencies in which our operations are located, which are primarily in Asia and to a lesser extent in the U.S. Our results of operations and cash flows are, therefore, subject to fluctuations due to changes in foreign currency exchange rates and may be adversely affected in the future due to changes in foreign exchange rates. To date, we have not engaged in any foreign currency hedging strategies. As our international operations grow, we plan to generate revenues in foreign currencies and we will continue to reassess our approach to manage our risk relating to fluctuations in currency rates.

 

Inflation

 

We do not believe that inflation had a material effect on our business, financial condition or results of operations in the last three fiscal years. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could harm our business, financial condition and results of operations.

 

C. Results of operations for the three months ended June 30, 2023 and June 30, 2022:

 

The Company had revenues amounting to $19,330 and $12,253, respectively, for three months ended June 30, 2023 and June 30, 2022. Following is a breakdown of revenues for both periods:

 

Product		June 30, 2023				June 30, 2022				Changes
Facetone		$	16,142			$	9,746			$	6,396
Software hosting and reselling			3,188				2,507				681
		$	19,330			$	12,253			$	7,077

 

5

 

 

Total revenue for the three months ended June 30, 2023 increased by 58% when compared to June 30, 2022. The increase is mainly due to the revenue generated from new projects.

 

For the three months ended June 30, 2023 and June 30, 2022, the Company had the following concentrations of revenues with customers:

 

Customer		June 30, 2023				June 30, 2022
A			20.88	%			28.21	%
B			17.44	%			24.70	%
C			17.39	%			22.79	%
D			10.32	%			14.58	%
E			25.09	%			0.00	%
Other misc. customers			8.88	%			9.72	%
			100.00	%			100.00	%

 

The total cost of sales amounted to $2,253 and $9,602 for the three months ended June 30, 2023 and June 30, 2022, respectively. The following table sets forth the Company’s cost of sales breakdown for both periods:

 

		June 30, 2023				June 30, 2022				Changes
Developer support and implementation			1,806				1,249				557
Other external services			368				36				332
Purchases/ hosted servers			79				180				(101	)
Amortization of product development cost			-				8,137				(8,137	)
		$	2,253				9,602				(7,349	)

 

Cost of sales decreased by $7,349 in the three months ended June 30, 2023 when compared to the three months ended June 30, 2022. Decrease in amortization of product development cost was the main contributor to the decrease in cost of sales.

 

The gross income for the three months ended June 30, 2023 and June 30, 2022 amounted to $17,077 and $2,651, respectively.

 

The total operating expenditure amounted to $55,800 and $40,367 for the three months ended June 30, 2023 and June 30, 2022, respectively. Operating expenditure increased by 38% during the three months ended June 30, 2023 when compared to the operating expenditure of the same period in 2022. The following table sets forth the Company’s operating expenditure analysis for both periods:

 

		June 30, 2023				June 30, 2022				Changes
General and administrative		$	34,740			$	33,352			$	1,388
Salaries and casual wages			16,219				6,246				9,973
Selling and distribution			1,413				107				1,306
Depreciation			2,695				282				2,413
Amortization of web site development			733				380				353
Total operating expenses		$	55,800			$	40,367			$	15,433

  

6

 

 

Following are the main reasons for the variances in operating expenses of the Company:

 

General and Administrative Cost

 

During the three months ended June 30, 2023, general and administrative cost increased by 4% when compared to the same period in 2022.

 

Salaries and casual wages

 

Salaries and casual wages increased by $9,973 during the three months ended June 30, 2023 as there was an increase in the total number of staff to support the new projects when compared to the same period in 2022.

 

Selling and distribution

 

During the period ended June 30, 2023, marketing expenses increased by $1,306.

 

Depreciation and Amortization expense

 

Depreciation and amortization expense had increased by $2,766 during the three months ended June 30, 2023, when compared to the three months ended June 30, 2022.

 

 

The Company recorded an operating loss of $38,723 and $37,716 for the period ended June 30, 2023 and June 30, 2022 respectively.

 

The Company’s other income and (expense) for the three months ended June 30, 2023 and June 30, 2022 amounted to $8,454 and $28,929, respectively. The following table sets forth the Company’s other income and (expense) analysis for both periods:

 

		June 30, 2023				June 30, 2022				Changes
Interest expense		$	(698	)		$	-			$	(698	)
Other income			9,132				51,678				(42,546	)
Gain / (Loss) on disposals			81				1,939				(1,858	)
Bank charges			(58	)			(39	)			(19	)
Exchange (loss) / gain			(1	)			(24,649	)			24,648
Total other income (expenses)		$	8,454			$	28,929			$	(20,475	)

 

Other income decreased by $20,475 in the three months ended June 30, 2023, when compared to the three months ended June 30, 2022. The main reason for this decrease was the increase in other income.

 

The loss before provision for income taxes for the three months ended June 30, 2023 and June 30, 2022 amounted to $30,269 and $8,787, respectively.

 

The net loss for the three months ended June 30, 2023 and June 30, 2022 amounted to $30,133 and $8,787, respectively.

 

The Company’s comprehensive loss for the three months ended June 30, 2023 and June 30, 2022 amounted to $121,517 and $306,962, respectively.

 

Comprehensive Income / (Loss):		June 30, 2023				June 30, 2022
(Loss) / gain on foreign currency translation		$	(91,384	)		$	315,749
Net loss			(30,133	)			(8,787	)
Comprehensive loss		$	(121,517	)		$	306,962

 

At June 30, 2023 and March 31, 2023, the Company had 88,375,838 and 88,375,838 common shares issued and outstanding, respectively. The weighted average number of shares for the three months ended June 30, 2023 and June 30, 2022 was 88,375,838 and 74,681,773, respectively. The loss per share for both periods was $(0.00) per share and $(0.00) per share, respectively.

 

7

 

 

D. Financial condition as at June 30, 2023 and March 31, 2023:

 

Assets:

 

The Company reported total assets of $474,928 and $466,859 as at June 30, 2023 and March 31, 2023, respectively. 50% of these total assets include intangible assets and 16% of total assets are comprised of prepaid expenses and other current assets of the Company. Our property and equipment include office equipment, computer equipment (Data Processing Equipment), furniture and fittings, web site developments and improvement to leasehold assets having a total net book value of $10,073 and $10,545 as at June 30, 2023 and March 31, 2023, respectively. Furthermore, our current assets as at March 31, 2023 totaled $95,073 and as at June 30, 2023, our current assets were $108,018. These current assets amounted to $108,018, comprised of cash of $5,043, accounts receivable of $20,932, prepaid and other current assets of $77,089 and accrued revenue of $4,954.

 

Liabilities:

 

The Company had total liabilities of $2,419,245 and $2,289,522 as at June 30, 2023 and March 31, 2023, respectively. Long term liabilities include balances owed to related parties which are outstanding for more than 12 months. Our current liabilities at March 31, 2023 totaled $1,725,619. We have seen an increase of 6% in current liabilities amounting to $98,167, making total current liabilities of $1,823,786 as at June 30, 2023. These mainly include short-term third-party debt, payroll liabilities, payable to related parties, deferred revenue, taxes payable, accrued liabilities and our day to day operational creditors.

 

Stockholder’s Deficit:

 

At March 31, 2023, the Company had stockholders’ deficit of $1,822,663. At June 30, 2023, the Company had stockholders’ deficit of $1,944,317, which represents an increase of $121,654.

 

The Company had 88,375,838 and 88,375,838 shares issued and outstanding at June 30, 2023 and March 31, 2023, respectively.

 

E. Liquidity and capital reserves:

 

The Company had losses from operations amounting to $38,723 and $37,716 for the three months ended June 30, 2023 and 2022, respectively; a total other income (expense) amounting to $8,454 and $28,929 for the three months ended June 30, 2023 and 2022, respectively; and a net loss of $30,133 and $8,787 for the three months ended June 30, 2023 and 2022, respectively.

 

In summary, our cash flows for the three months ended June 30, 2023 and June 30, 2022 were as follows:

 

		June 30, 2023				June 30, 2022
Net cash provided by operating activities		$	75,573			$	(251,006	)
Net cash used in investing activities			(619	)			(1,693	)
Net cash provided by financing activities			-				10,000

 

Since inception, we have financed our operations primarily through internally generated funds and the use of our lines of credit with several financial institutions. We had $5,043 in cash; net cash provided by operations of $75,573 for the three months ended June 30, 2023; working capital deficit of $1,715,768; and stockholders’ deficit of $1,944,317 as of June 30, 2023.

 

8

 

 

F. Milestones for next twelve months (2023-2024):

 

Our specific plan of operations and milestones through June 2024 are as follows:

 

a) New Cloud Product

 

The company is now ready to capitalize on the opportunities that have risen post-Covid for ‘communication and collaboration software products. The new cloud product DialDesk had its soft launch on October 5, 2022 and currently the company is building brand awareness. The product is initially being marketed online to the south east Asian market, as a test market. DialDesk will be marketed to other markets thereafter. This will enable us to reach new geographical locations where we do not have physical presence or partnerships.

 

b) Geographical Expansion with Facetone

 

We have signed partnership agreements with systems integrators and resellers in Sri Lanka and are in the process of signing with a few others in the region to promote Facetone

 

c) Knowledge Capital, Learning and Innovation.

 

Our greatest strength is our human capital. We have the ability to continue to innovate and set trends within the industries in which we operate, due to our ability to innovate and create value in our products.

 

Our management intends to:

 

	●	Continue to empower and create value for our human capital;
	●	Encourage disruptive technologies;
	●	Provide greater opportunities for knowledge sharing; and
	●	Sponsor and motivate learning and adoption of new technologies

 

d) Financial Performance

 

We intend to provide value for all our shareholders by:

 

	●	Increase revenue by marketing the new products and the existing products via partnerships and resellers, efficiently manage operations and break-even.
	●	Increasing free cash flow and efficiently managing the use of funds;
	●	Capitalizing on the opportunities presented by the pandemic, for SaaS products that help organizations operate remotely.
	●	Providing capital appreciation.

 

e) Corporate Social Responsibility

 

Our wholly-owned subsidiary, Duo Software (Pvt.) Ltd., was Asia’s first software development company to be certified Carbon Neutral in 2011.

   

We intend to be environmentally friendly, and continue with the carbon foot print audit and Carbon Neutral Certification in future.

 

9

 

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk

 

Not applicable.

 

Item 4. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer of the effectiveness of the design and operation of our disclosure controls and procedures. Based on this evaluation, our Principal Executive Officer and Principal Financial Officer concluded that our disclosure controls and procedures (as defined in Rules 13a-15(e) and Rule 15d-15(e) under the Securities Exchange Act of 1934) were effective.

 

Changes in internal control over financial reporting

 

There were no changes in our internal control over financial reporting during our last fiscal quarter that materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

PART II – OTHER INFORMATION

 

Item 1. Legal Proceedings

 

We are not involved in any legal proceedings.

 

Item 1A. Risk Factors

 

Not applicable.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

None.

 

Item 3. Defaults upon Senior Securities

 

None.

 

Item 4. Mine Safety Disclosures

 

Not applicable.

 

Item 5. Other Information

 

None.

 

Item 6. Exhibits

 

See Exhibit Index below for exhibits required by Item 601 of regulation S-K.

 

EXHIBIT INDEX

 

Exhibit No.

Description

 

List of Exhibits attached or incorporated by reference pursuant to Item 601 of Regulation S-K:

 

Exhibit		Description
31.1 *		Certification under Section 302 of Sarbanes-Oxley Act of 2002
31.2 *		Certification under Section 302 of Sarbanes-Oxley Act of 2002
32.1 *		Certification under Section 906 of Sarbanes-Oxley Act of 2002
32.2 *		Certification under Section 906 of Sarbanes-Oxley Act of 2002
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

*	Filed herewith.

 

10

 

 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

	DUO WORLD, INC.
Date: August 21, 2023	/s/ Muhunthan Canagasooryam
	Muhunthan Canagasooryam
	President and Chief Executive Officer
	(Principal Executive Officer)
Date: August 21, 2023	/s/ Suzannah Jennifer Samuel Perera
	Suzannah Jennifer Samuel Perera
	Chief Financial Officer
	(Principal Accounting and Financial Officer)

 

11

 

 

Exhibit 31.1

 

DUO WORLD, INC.

A Nevada corporation

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER

Section 302 Certification

 

I, Muhunthan Canagasooryam, certify that:

 

1.	I have reviewed this quarterly report on Form 10-Q of Duo World, Inc. for the quarter ended June 30, 2023.
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this interim report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15 (f) and 15d-15(f)) for the registrant and have:

 

	a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this annual report is being prepared;
	b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
	d)	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.	I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

 

	a)	All significant deficiencies in the design of operation of internal controls which would adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weakness in internal controls; and
	b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal control over financial reporting.

 

Date: August 21, 2023	/s/ Muhunthan Canagasooryam
	Muhunthan Canagasooryam
	President and Chief Executive Officer
	(Principal Executive Officer)

 

 

 

 

Exhibit 31.2

 

DUO WORLD, INC.

A Nevada corporation

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER

Section 302 Certification

 

I, Suzannah Jennifer Samuel Perera, certify that:

 

1.	I have reviewed this quarterly report on Form 10-Q of Duo World, Inc. for the quarter ended June 30, 2023.
2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this interim report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15 (f) and 15d-15(f)) for the registrant and have:

 

	a.	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period in which this annual report is being prepared;
	b.	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
	c.	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation;
	d.	Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.	I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

 

	a.	All significant deficiencies in the design of operation of internal controls which would adversely affect the registrant’s ability to record, process, summarize and report financial data and have identified for the registrant’s auditors any material weakness in internal controls; and
	b.	Any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer’s internal control over financial reporting

 

Date: August 21, 2023	/s/ Suzannah Jennifer Samuel Perera
	Suzannah Jennifer Samuel Perera
	Chief Financial Officer
	(Principal Accounting and Financial Officer)

 

 

 

 

Exhibit 32.1

 

DUO WORLD, INC.

A Nevada corporation

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Duo World, Inc. (“Company”) on Form 10-Q for the quarter ended June 30, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Muhunthan Canagasooryam, President and Chief Executive Officer, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

A signed original of this written statement required by Section 906, or other document authentication, acknowledging, or otherwise adopting the signature that appears in typed from within the electronic version of this written statement required by Section 906, has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 

Date: August 21, 2023	/s/ Muhunthan Canagasooryam
	Muhunthan Canagasooryam
	President and Chief Executive Officer
	(Principal Executive Officer)

 

 

 

Exhibit 32.2

 

DUO WORLD, INC.

A Nevada corporation

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Duo World, Inc. (“Company”) on Form 10-Q for the quarter ended June 30, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Suzannah Jennifer Samuel Perera, Chief Financial Officer, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

A signed original of this written statement required by Section 906, or other document authentication, acknowledging, or otherwise adopting the signature that appears in typed from within the electronic version of this written statement required by Section 906, has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 

Date: August 21, 2023	/s/ Suzannah Jennifer Samuel Perera
	Suzannah Jennifer Samuel Perera
	Chief Financial Officer
	(Principal Accounting and Financial Officer)

 

 

Cover - shares	3 Months Ended
	Jun. 30, 2023	Aug. 17, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--03-31
Entity File Number	0-55698
Entity Registrant Name	DUO WORLD, INC.
Entity Central Index Key	0001635136
Entity Tax Identification Number	35-2517572
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	c/o Duo Software (Pvt.) Ltd.
Entity Address, Address Line Two	No. 6, Charles Terrace
Entity Address, Address Line Three	Off Alfred Place
Entity Address, City or Town	Colombo 03
Entity Address, Country	LK
Entity Address, Postal Zip Code	Not applicable
City Area Code	870
Local Phone Number	505-6540
Entity Current Reporting Status	Yes
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		88,375,838

Consolidated Balance Sheets - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Current Assets
Cash and cash equivalents	$ 5,043	$ 18,712
Accounts receivable - trade	20,932	1,683
Prepaid expenses and other current assets	77,089	73,904
Accrued revenue	4,954	774
Total Current Assets	108,018	95,073
Non Current Assets
Property and equipment, net of accumulated depreciation of $143,126 and $139,483 respectively	10,073	10,545
Intangible assets, net	239,559	242,627
Lease - Right to use Asset	12,858	14,194
Goodwill	104,420	104,420
Total Non Current Assets	366,910	371,786
Total Assets	474,928	466,859
Current Liabilities
Accounts payable	429,380	415,766
Payroll, employee benefits, severance	326,691	309,097
Due to related parties	648,272	600,711
Payable for acquisition	185,762	185,762
Taxes payable	111,737	106,085
Accruals and other payables	110,407	106,855
Deferred revenue	11,537	1,343
Total Current liabilities	1,823,786	1,725,619
Long Term Liabilities
Due to related parties	563,400	534,552
Employee benefit obligation	17,426	14,290
Lease liability	14,633	15,061
Total Long Term liabilities	595,459	563,903
Total liabilities	2,419,245	2,289,522
Commitments and contingencies (Note 17)
Shareholders’ Deficit
Ordinary shares: $0.001 par value per share; 400,000,000 shares authorized; 88,375,838 and  88,375,838 shares issued and outstanding, respectively	88,376	88,376
Convertible series “A” preferred shares: $0.001 par value per share; 10,000,000 shares authorized; 5,000,000 and 5,000,000 shares issued and outstanding, respectively	5,000	5,000
Additional paid in capital	12,293,480	12,293,480
Accumulated deficit	(15,738,360)	(15,708,227)
Accumulated other comprehensive income	1,302,156	1,393,540
Non controling interest	105,032	105,168
Total shareholders’ deficit	(1,944,317)	(1,822,663)
Total Liabilities and Shareholders´ Deficit	$ 474,928	$ 466,859

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 143,126	$ 139,483
Ordinary stock, par value	$ 0.001	$ 0.001
Ordinary stock, shares authorized	400,000,000	400,000,000
Ordinary stock, shares issued	88,375,838	88,375,838
Ordinary stock, shares outstanding	88,375,838	88,375,838
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	5,000,000	5,000,000
Preferred stock, shares outstanding	5,000,000	5,000,000

Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 19,330	$ 12,253
Cost of revenue (exclusive of depreciation presented below)	(2,253)	(9,602)
Gross Income	17,077	2,651
Operating Expenses
General and administrative	34,740	33,352
Salaries and casual wages	16,219	6,246
Selling and distribution	1,413	107
Depreciation	2,695	282
Amortization of web site development	733	380
Total operating expenses	55,800	40,367
Loss from operations	(38,723)	(37,716)
Other income (expenses):
Interest expense	(698)
Other income	9,132	51,678
Gain / (Loss) on disposals	81	1,939
Bank charges	(58)	(39)
Exchange (loss) / gain	(1)	(24,649)
Total other income (expenses)	8,454	28,929
Profit/loss before provision for income taxes:	(30,269)	(8,787)
Tax Expense:
Provision for income taxes
Foreign taxes – withheld
Profit/(loss)	(30,269)	(8,787)
Profit/ (loss) attributable to non controling interest	(136)
Profit/(loss)	$ (30,133)	$ (8,787)
Basic Loss per Share	$ (0.00)	$ (0.00)
Diluted Loss per Share	$ (0.00)	$ (0.00)
Basic Weighted Average Number of Shares Outstanding	138,375,838	124,681,773
Diluted Weighted Average Number of Shares Outstanding	138,375,838	124,681,773
Comprehensive Income (Loss):
Unrealized foreign currency translation (loss) gain	$ (91,384)	$ 315,749
Comprehensive Income/ (Loss)	$ (121,517)	$ 306,962

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023
Operating activities:
Profit/(loss) before provision for income taxes	$ (30,133)	$ (8,787)	$ 667,005
Adjustments to reconcile loss before provision for income taxes to cash provided by operating activities:
Depreciation and amortization	3,428	661
Gain on disposals of property and equipment	(81)	(1,939)
Product development cost written off		8,137
Changes in assets and liabilities:
Fixed deposits		(16,865)
Accounts receivable - trade	(19,249)	(11,603)
Prepayments	(7,366)	9,788
Lease - Right to use Asset	(751)
Accounts Payable	13,614	(57,490)
Payroll, employee benefits, severance	17,594	(64,619)
Short term overdraft		(16)
Due to related parties	76,409	(98,999)
Taxes payable	5,652	(21,389)
Retirement Benefit	3,137	(4,769)
Lease liability	(428)
Accruals and other payables	13,747	16,884
Net cash provided by operating activities	75,573	(251,006)
Investing activities:
Acquisition of property and equipment	(564)	(3,632)
Sale proceeds of disposal of Property and Equipment	81	1,939
Non controlling interest	(136)
Net cash used in investing activities	(619)	(1,693)
Financing activities:
Proceeds from issuance of common Stock		1,020
Additional paid in capital		8,980
Net cash provided by financing activities		10,000
Effect of exchange rate changes on cash	(88,623)	258,632
Net decrease in cash	(13,669)	15,934
Cash, beginning of period	18,712	23,613	23,613
Cash, end of period	5,043	39,547	$ 18,712
Supplemental disclosure of cash flow information:
Cash paid for interest	698
Cash paid for income taxes
Supplemental disclosure of non-cash investing and financing activities:
Common shares issued for services
Amortization of Operating Lease	$ 2,087

Consolidated Statement of Changes in Shareholders' Deficit - USD ($)	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]	Total
Beginning balance, value at Mar. 31, 2022	$ 74,110	$ 5,000	$ 12,190,746	$ (16,375,232)	$ 1,245,916		$ (2,859,460)
Beginning balance, shares at Mar. 31, 2022	74,109,896	5,000,000
Stock issued	$ 14,266		102,734				117,000
Stock issued, shares	14,265,942
Net profit				667,005			667,005
Other comprehensive income					147,624		147,624
Non controlling interest						105,168	105,168
Ending balance, value at Mar. 31, 2023	$ 88,376	$ 5,000	12,293,480	(15,708,227)	1,393,540	105,168	(1,822,663)
Ending balance, shares at Mar. 31, 2023	88,375,838	5,000,000
Net profit				(30,133)			(30,133)
Other comprehensive income					(91,384)		(91,384)
Non controlling interest						(136)	(136)
Ending balance, value at Jun. 30, 2023	$ 88,376	$ 5,000	$ 12,293,480	$ (15,738,360)	$ 1,302,156	$ 105,032	$ (1,944,317)
Ending balance, shares at Jun. 30, 2023	88,375,838	5,000,000

Organization and Nature of Operations	3 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Nature of Operations	Note 1 - Organization and Nature of Operations   Duo World Inc. (hereinafter referred to as “Successor” or “Duo”) a reporting company since September 26, 2016, was organized under the laws of the state of Nevada on September 19, 2014. Duo Software (Pvt.) Limited (hereinafter referred to as “DSSL” or “Predecessor”), a Sri Lanka based company, was incorporated on September 22, 2004, in the Democratic Socialist Republic of Sri Lanka, as a limited liability company. Duo Software (Pte.) Limited (hereinafter referred to as “DSS” or “Predecessor”), a Singapore based company, was incorporated on June 05, 2007 in the Republic of Singapore as a limited liability company. Dial Desk (Pte) Limited (hereinafter referred to as “DDPL” or “Predecessor”), a Singapore based company, was incorporated on September 22, 2022 in the Republic of Singapore as a limited liability company.   On December 03, 2014, Duo Software (Pvt.) Limited (DSSL) and Duo Software Pte. Limited (DSS) executed a reverse recapitalization with Duo World Inc. (Duo). See Note 4, and on September 30, 2022 Duo acquired 80% of Dial Desk (Pte) Limited. Duo (Successor) is a holding company that conducts operations through its wholly owned subsidiaries DSSL and DSS (Predecessors) and 80% own subsidiary DDPL in Sri Lanka and Singapore. The consolidated entity is referred to as “the Company”. The Company, having its development center in Colombo, has been in the space of developing products and services for the subscription-based industry. The Company’s applications (“Facetone”, Dial Desk and “SmoothFlow”) provide solutions in the space of Customer Life Cycle Management and Work Flow.

Basis of Presentation	3 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 2 - Basis of Presentation   The Company has prepared the accompanying consolidated financial statements and accompanying notes in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). All amounts in the consolidated financial statements are stated in U.S. dollars.   We have recast certain prior period amounts to conform to the current period presentation, with no impact on consolidated net income or cash flows.   Going Concern   The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.   As reflected in the accompanying consolidated financial statements, the Company had a net loss of $30,133 and $8,787 for the three months ended June 30, 2023 and 2022, respectively; net cash provided by operations of $75,573 and $(251,006) for the three months ended June 30, 2023 and 2022, respectively; working capital deficit of $1,715,768 and $1,630,546 as of June 30, 2023 and March 31, 2023, respectively; outstanding statutory dues towards employee provident fund and employee trust fund of $234,632 and $220,790 as of June 30, 2023 and March 31, 2023, respectively; and a stockholders´ deficit of $1,944,317 and $1,822,663 as of June 30, 2023 and March 31, 2023, respectively.   The Company has launched its new cloud-based product Dial Desk and is expecting revenue from the new product. Further, the Company was able increase the revenue and reduce the Cost of Sales during the period. Considering these trends, the management is confident that the Company will generate sufficient profits to offset the operating losses in the recent future.

Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 - Summary of Significant Accounting Policies   Basis of Consolidation   The accompanying consolidated Financial Statements include the accounts and transactions of DSSL and DSS (Predecessors) and Duo (Successor). Duo World Inc. is the parent company of its 100% subsidiaries Duo Software (Pvt.) Limited (DSSL), Duo Software Pte. Limited (DSS), and its 80% owned subsidiary of Dial Desk Pte. Limited.   Use of Estimates and Assumptions   The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Making estimates and assumptions requires management to exercise significant judgment. It is least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future non-confirming events. Accordingly, the actual results could differ from those estimates and assumptions. The most significant estimates relate to the timing and amounts of revenue recognition, the recognition and disclosure of contingent liabilities and the collectability of accounts receivable.   Risks and Uncertainties   The Company’s operations are subject to significant risk and uncertainties including financial, operational, competition and potential risk of business failure. Product revenues are concentrated in the application software industry, which is highly competitive and rapidly changing. Significant technological changes in the industry or customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect operating results.   Concentrations of Credit Risk   Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with various high quality financial institutions and we monitor the credit ratings of those institutions. The Company’s sales are primarily to the companies located in Sri Lanka. The Company performs ongoing credit evaluations of our customers, and the risk with respect to trade receivables is further mitigated by the diversity, both by geography and by industry, of the customer base. Accounts receivable are due principally from the companies understated contract terms.   Provisions   A provision is recognized when the company has present obligations because of past event and when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligations and reliable estimate can be made of amount of the obligation. Provisions are not discounted at their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.   Accounts Receivable and Provision for Doubtful Accounts   The Company recognizes accounts receivable in connection with the products sold and services provided and has strong policies and procedures for the collection receivables from its clients. However, there are inevitably occasions when the receivables due to the Company cannot be collected and, therefore, have to be written off as bad debts. While the debt collection process is being pursued, an assessment is made of the likelihood of the receivable being collectable. A provision is therefore, made against the outstanding receivable to reflect that component that may not become collectable. The Company is in the practice of provisioning for doubtful debts based on the period outstanding as per the following:   Trade receivables outstanding:   Provision   Over 24 months     100 % Over 18 months     50 % Over 15 months     25 % Over 12 months     10 % Over 9 months     5 %     Cash Equivalents   The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of June 30, 2023, and March 31, 2023, there were no cash equivalents.   Foreign Currency Translation   The functional currencies of the Company’s foreign subsidiaries are their local currencies. For financial reporting purposes, these currencies have been converted into United States Dollars ($) and/or USD as the reporting currency. All assets and liabilities denominated in foreign functional currencies are converted into U.S. dollars at the closing exchange rate on the balance sheet date and equity balances are converted at historical rates. Revenues, costs and expenses in foreign functional currencies are converted at the average rate of exchange during the period. Conversion adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders’ deficit as “accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statement of operations and comprehensive income /(loss) as other income (expense).   Property and Equipment   Fixed assets (including leasehold improvements) are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed utilizing the straight-line method over the estimated useful lives of the related assets. The estimated salvage value is considered as NIL. Amortization of leasehold improvements is computed utilizing the straight-line method over the estimated benefit period of the related assets, which may not exceed 15 years, or the lease term, if shorter. Repairs and maintenance expenditures, which are not considered improvements and do not extend the useful life of the property and equipment, are expensed as incurred. In case of sale or disposal of an asset, the cost and related accumulated depreciation are removed from the consolidated financial statements.   Useful lives of the fixed assets are as follows:   Furniture & fittings   5 years Improvements to lease hold assets   Lease term Office equipment   5 years Computer equipment (Data processing equipment)   3 years Website development   4 years   Impairment of Long-Lived Assets   The Company reviews long-lived assets, such as property, plant, and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of by sale would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.   Fair Value Measurements and Fair Value of Financial Instruments   The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability.   The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.     Post Retirement Benefit Plan   The Company has gratuity as post-employment plan for all the eligible employees. The recognition for the gratuity plan is as below:-   The expected postretirement benefit obligation (“EPBO”) is the actuarial present value (“APV”) as of a specific date of the benefits expected to be paid to the employee, beneficiaries, and covered dependents.   Measurement of the EPBO is based on the following:   1. Expected amount and timing of future benefits   2. Expected future costs   3. Extent of cost sharing   The EPBO includes an assumed salary progression for a pay-related plan. Future compensation levels represent the best estimate after considering the individual employees involved, general price levels, seniority, productivity, promotions, indirect effects, and the like.   The Accumulated postretirement benefit obligation (“APBO”) is the APV as of a specific date of all future benefits attributable to service by an employee to that date. It represents the portion of the EPBO earned to date. After full eligibility is attained, the APBO equals the EPBO. The APBO also includes an assumed salary progression for a pay-related plan.   Revenue Recognition, Deferred & Accrued Revenue   The Company recognizes revenue from the sale of software licenses and related services. The Company revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606, Revenue from contract with customers. Revenue is recognized when the Company transferred promised goods and services to the customer and in the amount that reflect the consideration to which the company expected to be entitled in exchange for those goods and services.   The following five steps are followed in recognizing revenue from contracts:   ● Identify the Contract(s) with the customer; ● Identify the performance obligation of the contract; ● Determine the transaction price; ● Allocate the transaction price to the performance obligations in the contract and; ● Recognize revenue when or as the company satisfies a performance obligation.   The consideration for the transaction [performance obligation(s)] is determined as per the agreement, contract or invoice for the services and products.   Facetone   ‘Facetone’ is a communication and collaboration platform, which provides users the capability of operating and running a high performance contact center operation efficiently while saving cost and maximizing revenue opportunities. In-built Facetone CRM feature provides the opportunity for contact centers to deliver a superior customer experience and build a better relationship by linking customers and data in real time.   Smoothflow   Smoothflow automates customer engagements, including building ChatBots, VoiceBots and IoTBots to deliver an Omni channel customer service experience. The product uses the power of artificial intelligence to keep improving the conversational flow and user experience.     DialDesk   DialDesk is a SaaS contact center software which caters the SME segment of the market with its low cost, cloud based platform. Businesses can buy their virtual number from DialDesk and set up their contact center within few minutes. With its easy to uses user interface and agility, DialDesk will help businesses improve the productivity of their contact center operations.   Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities.   Nature of Products and Services   Licenses for on premise software– The Company sells a perpetual nonexclusive license to the customer and enables the customer to install and use the software and its documentation. Price per customer varies based on the selection of the products licensed, the number of site installations and the number of authorized users. The product offered on this basis is “Facetone-enterprise.”   Enterprise software solutions– The Company distributes its software product ‘Facetone- hosted version” with third party telecommunication companies. It is a revenue model where the telecommunication provider hosts the Company’s software applications and makes them available to its customers over the Internet for a monthly subscription fee. The Company charges telecommunication providers a monthly license fee calculated according to number of licenses sold.   Cloud services- The Company sells its product Smoothflow as a “SaaS” product (Software-as-a-Service) and services are provided on a monthly subscription model.   AMC Services- The Company offers annual maintenance programs on its licenses that provide for technical support and updates to the Company’s software products. Initial annual maintenance fees are bundled with license fees in the initial licensing period and recognized when the performance obligation of license fee is met. Revenue is recognized ratably, or daily, over the term of the maintenance period, which is typically one year.   For the three months ended June 30, 2023 and 2022, the Company received only cash as consideration for sale of licenses and related services and not in kind.   For the three months ended June 30, 2023 and 2022, the Company had following concentrations of revenues with customers:   Customer   June 30, 2023     June 30, 2022                 A     20.88 %     28.21 % B     17.44 %     24.70 % C     17.39 %     22.79 % D     10.32 %     14.58 % E     25.09 %     0.00 % Other misc. customers     8.88 %     9.72 %       100.00 %     100.00 %   For the three months ended June 30, 2023 and 2022, the company had the following sales by products:   Product   June 30, 2023     June 30, 2022                 Facetone   $ 16,142     $ 9,746   Software hosting and reselling     3,188       2,507       $ 19,330     $ 12,253       Significant Judgments   The Company’s contracts with customers include multiple Software products and services to deliver and in most of the contracts, the price of the separately identifiable features are stated separately. In the event the price of the multiple products and services are not mentioned in the agreement, the Company allocates transaction price estimating the standalone selling price of the promised products and the services. The determination of stand-alone selling price for each performance obligation requires judgments. The Company determines stand-alone selling price for performance obligations based on overall pricing strategies, which consider markets in which the Company operates, historical data analysis, number of users of the product or services, size of the customer and the market price of the hardware used.   Contract Balances   When the timing of revenue recognition differs from the timing of invoicing for contracts with customers, differed revenue and accrued revenue/unbilled accounts receivable are recognized by the Company. Revenues under Software Implementation contracts are invoiced on stages of completion as stipulated in the agreement and the revenue is recognized when the performance obligations are met and customer signs the user acceptance test (UAT). The Company invoices software license fees and royalty fees at the end of the period according to the customer agreement and accrued revenue/unbilled revenue is recognized for the relevant period. The maintenance fee is invoiced beginning of the period and the Company recognizes as deferred revenue in the financial statements and is ratably recognized over a period of service.   The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence.   Refer Note- 5 for “Accounts receivables and Provision for doubtful debts”   Segment Information   The Company has determined that its Chief Executive Officer is its Chief Operating Decision Maker. The Company’s executive reviews financial information presented on a consolidated basis for the purposes of assessing the performance and making decisions on how to allocate resources. Accordingly, the Company has determined that it operates in a single reportable segment.   Deferred Revenue - Deferred revenue represents advance payments for software licenses, services, and maintenance billed in advance of the time revenue is recognized. As at June 30, 2023 and March 31, 2023 the Company recognized deferred revenue $11,537 and $1,343, respectively.   Accrued Revenue/Unbilled Accounts Receivable - Accrued revenue/Unbilled accounts receivable primarily occur due to the timing of the respective billings, which occur subsequent to the end of each reporting period. As at June 30, 2023 and March 31, 2023, unbilled /accrued revenues were $4,954 and $774, respectively.    The Company had no contract liabilities and assets recognized for cost to fulfill a requirement of a customer as at June 30, 2023.     Cost of Revenue   Cost of revenue mainly includes purchases, product implementation costs, amortization of product development, developer support and implementation, and consultancy fees related to the products offered by the Company. The aggregate cost related to the software implementations, including support and consulting services pertaining to the revenue recognized during the reporting period, is recognized as Cost of Revenue.   Product research and development   Product research and development expenses consist primarily of salary and benefits for the Company’s development and technical support staff, contractors’ fees and other costs associated with the enhancements of existing products and services and development of new products and services. Costs incurred for software development prior to technological feasibility are expensed as product research and development costs in the period incurred. Once the point of technological feasibility is reached, which is generally upon the completion of a working prototype that has no critical bugs and is a release candidate, development costs are capitalized until the product is ready for general release and are classified within “Intangibles assets” in the accompanying consolidated balance sheets. The Company amortizes capitalized software development costs using the greater of the ratio of the product’s current gross revenues to the total of current gross revenues and expected gross revenues or on a straight-line basis over the estimated economic life of the related product, which is typically four years.   During the three months ended June 30, 2023 and, June 30, 2022, the Company has not capitalized product development cost.   Advertising Costs   The Company expenses advertising costs as incurred. No advertising expenses were incurred during the three months ended June 30, 2023 and 2022.   Income Taxes   The Company accounts for income taxes using the asset and liability method. 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 rates is recognized in income in the period that includes the enactment date. Deferred tax assets and liabilities are not recognized in the current financials due to recurring tax losses and the uncertainty of the realization of the tax allowances. Withholding taxes deducted from the source of income from foreign operations are debited to profit and loss account due to non-refundable status.   Comprehensive Income   The Comprehensive Income Topic of the FASB Accounting Standards Codification establishes standards for reporting and presentation of comprehensive income and its components in a full set of financial statements. Comprehensive income from April 1, 2015 through June 30, 2023, includes only foreign currency conversion gains (losses), and is presented in the Company’s consolidated statements of comprehensive income.   Changes in Accumulated Other Comprehensive Income (Loss) by Component during the periods ending on June 30, 2023 and March 31, 2023 were as follows:   Foreign Currency Translation gains (losses)                   Balance, March 31, 2022   $ 1,245,916   Translation rate gain (loss)     147,624   Balance, March 31, 2023   $ 1,393,540   Translation rate gain (loss)     (91,984 ) Balance, June 30, 2023   $ 1,302,156       Leases   Lessor   There are no significant changes in recognizing the Lessor under ASC 842 compared to the previous model. Changes were made to the accounting guidance of lessor and lessee, and the key aspects of the introduced model is to align the recognition criteria with new revenue recognition standard ASC 606. Under the new guidance, contract consideration is allocated to its lease components and non-lease components (such as maintenance). For the Company as a lessor, non-lease components of the contract will be accounted under ASC Topic 606, Revenue from Contracts with Customers, unless the Company elects a lessor practical expedient to not separate the non-lease components from the associated lease component. The amendments in ASU 2018-11 also provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component. To elect the practical expedient, the timing and pattern of transfer of the lease and non-lease components must be the same and the lease component must meet the criteria to be classified as an operating lease. If these criteria’s are met, the single component can be accounted either ASC 842 or ASC 606, depending on the predominant component(s). The lessor practical expedient to not separate non-lease components from the associated component must be elected for all existing and new leases.   As lessor, the Company expects that post-adoption substantially all existing leases will have no change in the timing of revenue recognition until their expiration or termination. The Company expects to elect the lessor’s practical expedient to not separate non-lease components such as maintenance from the associated lease for all existing and new leases and to account for the combined component as a single lease component. The timing of revenue recognition is expected to be the same for the majority of the Company’s new leases as compared to similar existing leases; however, certain categories of new leases could have different revenue recognition patterns as compared to similar existing leases.   For the leases that are accounted as operating leases, income is recognized on a straight-line basis over the term of the lease contract. Generally, when a lease is more than 180 days delinquent (where more than three monthly payments are owed), the lease is classified as being on nonaccrual and the Company has to stops recognizing leasing income on that date. Payments received from leases in nonaccrual status generally reduce the lease receivable. Leases on nonaccrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full.   Lessee   The Company adopted ASU 2016-02 effective April 1, 2019 using the modified retrospective approach. The new standard establishes a right-of-use model (“ROU”) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. In connection with the adoption, the Company will elect to utilize the modified retrospective presentation whereby the Company will continue to present prior period financial statements and disclosures under ASC 840. In addition, the Company will elect the transition package of three practical expedients permitted within the standard, which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company will adopt a short-term lease exception policy, permitting us to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component for certain classes of assets.   The Company categorizes leases at their inception as either operating or capital leases. On certain lease agreements, the Company may receive rent holidays and other incentives. The Company recognizes lease costs on a straight-line basis without considering the deferred payment terms, such as rent holidays, that defer the commencement date of required payments.     Recent Accounting Pronouncements   Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed below are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable, or the impact is expected to be immaterial.   The Company has reviewed the recent accounting pronouncements and believes that they will not have material impact on the Company’s financial position and results of operations.   Not yet adopted   Disclosures: In August 2018, the FASB issued ASU 2018-13. Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in the standard apply to all entities that are required, under existing GAAP, to make disclosures about recurring or nonrecurring fair value measurements. ASU 2018-13 removes, modifies, and adds certain disclosure requirements in ASC 820, Fair Value Measurement. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.   Collaborative Arrangement: Clarifying the Interaction between Topic 808 and Topic 606, which clarifies when transactions between participants in a collaborative arrangement are within the scope of the FASB’s revenue standard, Topic 606. The standard is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.   Intangibles-Goodwill and Other-Internal-Use Software: In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. ASU 2018-15 (Subtopic 350-40) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

Reverse Recapitalization	3 Months Ended
	Jun. 30, 2023
Reverse Recapitalization
Reverse Recapitalization	Note 4 – Reverse Recapitalization   Duo (Successor) merged with DSSL (Predecessors) on December 3, 2014, and merged with DSS (Predecessors) on December 3, 2014 (Predecessors), and DSSL and DSS became the surviving corporations, in a transaction treated as a reverse recapitalization. Duo did not have any material operations and majority-voting control was transferred to DSSL.   In the recapitalization, Duo issued 28,000,000 shares of common stock, 5,000,000 series “A” preferred shares and $310,000 in cash in exchange for all of DSSL’s 5,000,000 issued and outstanding shares of common stock. Duo also issued 2,000,000 shares of common stock in exchange for all of DSS’s 10,000 issued and outstanding shares of common stock. The transaction resulted in DSSL’s shareholder and DSS’s shareholder acquiring approximately 100% control.   The transaction also required a recapitalization of DSSL and DSS. Since DSSL and DSS acquired a controlling voting interest, they were deemed the accounting acquirer, while Duo was deemed the legal acquirer. The historical financial statements of the Company are those of combined financial statements of DSSL & DSS and of the consolidated entities from the date of recapitalization and subsequent.   Since the transaction is considered a reverse recapitalization, the presentation of pro-forma financial information was not required. All share and per share amounts have been retroactively restated to the earliest periods presented to reflect the transaction.

Accounts Receivable	3 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Accounts Receivable	Note 5 – Accounts Receivable   Following is a summary of accounts receivable as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Accounts receivable – Trade   $ 40,661     $ 29,224   Less: Provision for doubtful debts     (19,729 )     (27,541 )   $ 20,932     $ 1,683     As at June 30, 2023 and March 31, 2023, the Company had following concentrations of accounts receivables with customers:   Customer   June 30, 2023     March 31, 2023   A     6.57 %     39.51 % B     3.49 %     43.51 % C     0.00 %     0.00 % D     0.00 %     16.98 % E     66.14 %     0.00 % F     23.80 %     0.00 %     100.00 %     100.00 %

Prepaid Expenses and Other Current Assets	3 Months Ended
	Jun. 30, 2023
Prepaid Expenses And Other Current Assets
Prepaid Expenses and Other Current Assets	Note 6 – Prepaid Expenses and Other Current Assets   Following is a summary of prepaid expenses and other current assets as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Dial Desk (Pvt) Ltd   $ 61,103     $ 57,475   Security deposits     9,634       9,361   David E. Wise IOLTA account     4,780       4,780   Prepayments     1,491       1,865   Other receivables     81       423     $ 77,089     $ 73,904

Property and Equipment	3 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 7– Property and Equipment   Following table illustrates net book value of property and equipment as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Office equipment   $ 1,048     $ 992   Furniture & fittings     70,329       66,547   Computer equipment (data processing equipment)     60,699       57,143   Improvements to lease hold assets     274       5,254   Website development     20,849       20,092       153,199       150,028   Accumulated depreciation and amortization     (143,126 )     (139,483 ) Net fixed assets   $ 10,073     $ 10,545     Depreciation and amortization expense for the three months ended June 30, 2023 and 2022 was $3,428 and $661, respectively.

Intangible assets	3 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets	Note 8 – Intangible assets   Intangible assets comprise of capitalization of certain costs pertaining to products development which meets the criteria as set forth above under Note 3. Following table illustrates the movement in intangible assets as at June 30, 2023 and March 31, 2023:       June 30, 2023     March 31, 2023   Opening balance   $ 242,627     $ 251,439   Add: Costs capitalized during the period     -       200,000   Less:             (23,843 ) Cost transferred     -       (114,436 ) Cost Written off     -       (39,803 ) Translational gain/ (loss)     (3,068 )     (30,730 ) Net Intangible Assets   $ 239,559     $ 242,627

Accounts Payable	3 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accounts Payable	Note 9 – Accounts Payable   Following is a summary of accounts payable as at June 30, 2023 and March 31, 2023:       June 30, 2023     March 31, 2023   Accounts payable- employees   $ 238,491     $ 219,346   Supplier payable     76,589       87,369   Canagey Capital (Pvt) Ltd     42,693       40,397   Other supplier payable     40,267       38,101   EPSI Computers (Pvt) Ltd     19,419       18,374   Due to Guha Takurta     11,921       12,179     $ 429,380     $ 415,766

Due to Related Parties	3 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Due to Related Parties	Note 10 – Due to Related Parties   Due to Related Parties – Short term   From time to time, the Company receives advances from related parties such as management, directors or principal shareholders in the normal course of business. Loans and advances received from related parties are unsecured and non-interest bearing. Balances outstanding to these persons for less than 12 months are presented under current liabilities in the accompanying consolidated financial statements. As of June 30, 2023, and March 31, 2023, the Company owed directors $648,272 and $600,711, respectively.   Due to Related Parties – Long term   Balances outstanding to related parties for more than 12 months are presented under long-term liabilities in the accompanying consolidated financial statements. As of June 30, 2023, and March 31, 2023, the Company owed directors $563,400 and $534,552, respectively.

Taxes Payables	3 Months Ended
	Jun. 30, 2023
Taxes Payables
Taxes Payables	Note 11 – Taxes Payables   Taxes payable comprised of items listed below as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   PAYE   $ 103,985     $ 98,967   ESC Payable     5,207       4,927   WHT payable     2,542       2,188   Stamp duty payable     3       3     $ 111,737     $ 106,085

Accruals and Other Payables	3 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accruals and Other Payables	Note 12 – Accruals and Other Payables   Following is a summary of accruals and other payables as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Accruals   $ 80,289     $ 76,331   Other payables     17,000       17,000   Accrued interest     9,910       9,910   Audit fee payable     3,209       3,614     $ 110,407     $ 106,855

Cost of Revenue	3 Months Ended
	Jun. 30, 2023
Cost Of Revenue
Cost of Revenue	Note 13 – Cost of Revenue   Following is the summary of cost of revenue for the three months ending June 30, 2023 and 2022;       June 30, 2023     June 30, 2022   Developer Support and Implementation   $ 1,806     $ 1,249   Other external services     368       36   Purchases/ hosted servers     79       180   Product development cost written off     -       8,137     $ 2,253     $ 9,602

General and Administrative Expenses	3 Months Ended
	Jun. 30, 2023
General And Administrative Expenses
General and Administrative Expenses	Note 14 – General and Administrative Expenses   Following is the summary of general and administrative expenses for the three months ending June 30, 2023 and 2022;       June 30, 2023     June 30, 2022                 Consulting fee     10,805       15,636   Other professional services     5,112       2,855   Legal Fee     4,500       4,500   OTC market Fees     3,000       3,000   Audit fees     2,618       2,565   Gratuity     2,264       -   Director fees     1,113       -   Electricity charges     738       140   Office maintenance     683       221   Internet charges     600       413   Transfer agent fees     600       450   Secretarial fees     589       163   Staff welfare     409       360   Office rent     405       1,468   Telephone charges     397       329   Software rentals     247       226   Professional fees     205       200   Other expenses     171       166   Computer maintenance     155       162   Printing and stationery     60       412   Filling fee and subscription     44       68   Stamp duty expenses     25       18         34,740       33,352

Selling and Distribution Expenses	3 Months Ended
	Jun. 30, 2023
Selling And Distribution Expenses
Selling and Distribution Expenses	Note 15 – Selling and Distribution Expenses   Selling and distribution expenses for the three months ended June 30, 2023 and 2022 was $1,413 and $107, respectively.

Equity	3 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Note 16 - Equity   (A) Common Stock   As at June 30, 2023, the Company has 400,000,000 authorized common shares having a par value of $0.001. The common shares have been designated with the following rights:   ● Voting rights: Common shareholders can attend at annual general meeting to cast vote or use a proxy.       ● Right to elect board of directors: Common shareholders control the Company through their right to elect the company’s board of directors; however, the holder of our preferred stock has super-majority voting rights and has power to elect all of the Company’s board of directors.       ● Right to share income and assets: Common shareholders have the right to share company’s earnings equally on a per-share basis in the form of dividend. Similarly, in the event of liquidation, shareholders have claim on assets that remain after meeting the obligation to accrued taxes, accrued salary and wages, creditors including bondholders (if any) and preferred shareholders. Thus, common shareholders are residual claimants of the company’s income and assets.   During the three months ended June 30, 2023, the Company has not issued Common shares.   (B) Preferred Stock   As at June 30, 2023, the Company had 10,000,000 authorized series “A” preferred shares having a par value of $0.001 per share.   The preferred shares have been designated with the following conversion rights:   ● One preferred share will convert into ten (10) common shares no earlier than 24 months and 1 day after the issuance.

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 17 - Commitments and Contingencies   The Company consults with legal counsel on matters related to litigation and other experts both within and outside the Company with respect to matters in the ordinary course of business. The Company does not have any contingent liabilities in respect of legal claims arising in the ordinary course of business.     Guarantees provided by the company existed on the balance sheet date are as follows:   Date     Description   Amount     7/31/2014     Guarantee for SLT   $ 282     8/10/2015     Guarantee for LOLC     797     10/9/2018     Rent deposit for office space     5,479     10/14/2019     Security deposit for CEB     498     10/21/2019     Security deposit for CEB     198               $ 7,254

Leases	3 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Note 18 – Leases   The Company’s short-term leases primarily consist of office spaces with the lease term less than or equal to 12 months. The total short- term lease expenses and cash paid for the period ended June 30, 2023 and March 31, 2023 are $1,940 and $3,519, respectively. The Company has one operating lease as at June 30, 2023.   As per ASC 842, the Company has created a right of use lease asset of $12,858 and right of use liability of $ 14,633 as at June 30, 2023.   The following costs are related to the operating lease of the Company for the period ended June 30, 2023:   Components of total lease cost:   June 30, 2023   Operating lease depreciation   $ 2,087   Operating lease interest     690   Total lease cost   $ 2,777

General	3 Months Ended
	Jun. 30, 2023
General
General	Note 19 - General   Figures have been rounded off to the nearest dollar and the comparative figures have been re-arranged / reclassified, wherever necessary, to facilitate comparison.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation   The accompanying consolidated Financial Statements include the accounts and transactions of DSSL and DSS (Predecessors) and Duo (Successor). Duo World Inc. is the parent company of its 100% subsidiaries Duo Software (Pvt.) Limited (DSSL), Duo Software Pte. Limited (DSS), and its 80% owned subsidiary of Dial Desk Pte. Limited.
Use of Estimates and Assumptions	Use of Estimates and Assumptions   The preparation of consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Making estimates and assumptions requires management to exercise significant judgment. It is least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future non-confirming events. Accordingly, the actual results could differ from those estimates and assumptions. The most significant estimates relate to the timing and amounts of revenue recognition, the recognition and disclosure of contingent liabilities and the collectability of accounts receivable.
Risks and Uncertainties	Risks and Uncertainties   The Company’s operations are subject to significant risk and uncertainties including financial, operational, competition and potential risk of business failure. Product revenues are concentrated in the application software industry, which is highly competitive and rapidly changing. Significant technological changes in the industry or customer requirements, or the emergence of competitive products with new capabilities or technologies could adversely affect operating results.
Concentrations of Credit Risk	Concentrations of Credit Risk   Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company maintains cash and cash equivalents with various high quality financial institutions and we monitor the credit ratings of those institutions. The Company’s sales are primarily to the companies located in Sri Lanka. The Company performs ongoing credit evaluations of our customers, and the risk with respect to trade receivables is further mitigated by the diversity, both by geography and by industry, of the customer base. Accounts receivable are due principally from the companies understated contract terms.
Provisions	Provisions   A provision is recognized when the company has present obligations because of past event and when it is probable that an outflow of resources embodying economic benefits will be required to settle the obligations and reliable estimate can be made of amount of the obligation. Provisions are not discounted at their present value and are determined based on the best estimate required to settle the obligation at the reporting date. These estimates are reviewed at each reporting date and adjusted to reflect the current best estimates.
Accounts Receivable and Provision for Doubtful Accounts	Accounts Receivable and Provision for Doubtful Accounts   The Company recognizes accounts receivable in connection with the products sold and services provided and has strong policies and procedures for the collection receivables from its clients. However, there are inevitably occasions when the receivables due to the Company cannot be collected and, therefore, have to be written off as bad debts. While the debt collection process is being pursued, an assessment is made of the likelihood of the receivable being collectable. A provision is therefore, made against the outstanding receivable to reflect that component that may not become collectable. The Company is in the practice of provisioning for doubtful debts based on the period outstanding as per the following:   Trade receivables outstanding:   Provision   Over 24 months     100 % Over 18 months     50 % Over 15 months     25 % Over 12 months     10 % Over 9 months     5 %
Cash Equivalents	Cash Equivalents   The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. As of June 30, 2023, and March 31, 2023, there were no cash equivalents.
Foreign Currency Translation	Foreign Currency Translation   The functional currencies of the Company’s foreign subsidiaries are their local currencies. For financial reporting purposes, these currencies have been converted into United States Dollars ($) and/or USD as the reporting currency. All assets and liabilities denominated in foreign functional currencies are converted into U.S. dollars at the closing exchange rate on the balance sheet date and equity balances are converted at historical rates. Revenues, costs and expenses in foreign functional currencies are converted at the average rate of exchange during the period. Conversion adjustments arising from the use of different exchange rates from period to period are included as a component of shareholders’ deficit as “accumulated other comprehensive income (loss).” Gains and losses resulting from foreign currency transactions are included in the statement of operations and comprehensive income /(loss) as other income (expense).
Property and Equipment	Property and Equipment   Fixed assets (including leasehold improvements) are stated at cost, net of accumulated depreciation and amortization. Depreciation is computed utilizing the straight-line method over the estimated useful lives of the related assets. The estimated salvage value is considered as NIL. Amortization of leasehold improvements is computed utilizing the straight-line method over the estimated benefit period of the related assets, which may not exceed 15 years, or the lease term, if shorter. Repairs and maintenance expenditures, which are not considered improvements and do not extend the useful life of the property and equipment, are expensed as incurred. In case of sale or disposal of an asset, the cost and related accumulated depreciation are removed from the consolidated financial statements.   Useful lives of the fixed assets are as follows:   Furniture & fittings   5 years Improvements to lease hold assets   Lease term Office equipment   5 years Computer equipment (Data processing equipment)   3 years Website development   4 years
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets   The Company reviews long-lived assets, such as property, plant, and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized by the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of by sale would be separately presented in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of a group classified as held for sale would be presented separately in the appropriate asset and liability sections of the balance sheet.
Fair Value Measurements and Fair Value of Financial Instruments	Fair Value Measurements and Fair Value of Financial Instruments   The Company measures assets and liabilities at fair value based on an expected exit price as defined by the authoritative guidance on fair value measurements, which represents the amount that would be received on the sale of an asset or paid to transfer a liability, as the case may be, in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability.   The estimated fair value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and accrued expenses are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.
Post Retirement Benefit Plan	Post Retirement Benefit Plan   The Company has gratuity as post-employment plan for all the eligible employees. The recognition for the gratuity plan is as below:-   The expected postretirement benefit obligation (“EPBO”) is the actuarial present value (“APV”) as of a specific date of the benefits expected to be paid to the employee, beneficiaries, and covered dependents.   Measurement of the EPBO is based on the following:   1. Expected amount and timing of future benefits   2. Expected future costs   3. Extent of cost sharing   The EPBO includes an assumed salary progression for a pay-related plan. Future compensation levels represent the best estimate after considering the individual employees involved, general price levels, seniority, productivity, promotions, indirect effects, and the like.   The Accumulated postretirement benefit obligation (“APBO”) is the APV as of a specific date of all future benefits attributable to service by an employee to that date. It represents the portion of the EPBO earned to date. After full eligibility is attained, the APBO equals the EPBO. The APBO also includes an assumed salary progression for a pay-related plan.
Revenue Recognition, Deferred & Accrued Revenue	Revenue Recognition, Deferred & Accrued Revenue   The Company recognizes revenue from the sale of software licenses and related services. The Company revenue recognition policy follows guidance from Accounting Standards Codification (ASC) 606, Revenue from contract with customers. Revenue is recognized when the Company transferred promised goods and services to the customer and in the amount that reflect the consideration to which the company expected to be entitled in exchange for those goods and services.   The following five steps are followed in recognizing revenue from contracts:   ● Identify the Contract(s) with the customer; ● Identify the performance obligation of the contract; ● Determine the transaction price; ● Allocate the transaction price to the performance obligations in the contract and; ● Recognize revenue when or as the company satisfies a performance obligation.   The consideration for the transaction [performance obligation(s)] is determined as per the agreement, contract or invoice for the services and products.   Facetone   ‘Facetone’ is a communication and collaboration platform, which provides users the capability of operating and running a high performance contact center operation efficiently while saving cost and maximizing revenue opportunities. In-built Facetone CRM feature provides the opportunity for contact centers to deliver a superior customer experience and build a better relationship by linking customers and data in real time.   Smoothflow   Smoothflow automates customer engagements, including building ChatBots, VoiceBots and IoTBots to deliver an Omni channel customer service experience. The product uses the power of artificial intelligence to keep improving the conversational flow and user experience.     DialDesk   DialDesk is a SaaS contact center software which caters the SME segment of the market with its low cost, cloud based platform. Businesses can buy their virtual number from DialDesk and set up their contact center within few minutes. With its easy to uses user interface and agility, DialDesk will help businesses improve the productivity of their contact center operations.   Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. We enter into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. Revenue is recognized net of allowances for returns and any taxes collected from customers, which are subsequently remitted to governmental authorities.   Nature of Products and Services   Licenses for on premise software– The Company sells a perpetual nonexclusive license to the customer and enables the customer to install and use the software and its documentation. Price per customer varies based on the selection of the products licensed, the number of site installations and the number of authorized users. The product offered on this basis is “Facetone-enterprise.”   Enterprise software solutions– The Company distributes its software product ‘Facetone- hosted version” with third party telecommunication companies. It is a revenue model where the telecommunication provider hosts the Company’s software applications and makes them available to its customers over the Internet for a monthly subscription fee. The Company charges telecommunication providers a monthly license fee calculated according to number of licenses sold.   Cloud services- The Company sells its product Smoothflow as a “SaaS” product (Software-as-a-Service) and services are provided on a monthly subscription model.   AMC Services- The Company offers annual maintenance programs on its licenses that provide for technical support and updates to the Company’s software products. Initial annual maintenance fees are bundled with license fees in the initial licensing period and recognized when the performance obligation of license fee is met. Revenue is recognized ratably, or daily, over the term of the maintenance period, which is typically one year.   For the three months ended June 30, 2023 and 2022, the Company received only cash as consideration for sale of licenses and related services and not in kind.   For the three months ended June 30, 2023 and 2022, the Company had following concentrations of revenues with customers:   Customer   June 30, 2023     June 30, 2022                 A     20.88 %     28.21 % B     17.44 %     24.70 % C     17.39 %     22.79 % D     10.32 %     14.58 % E     25.09 %     0.00 % Other misc. customers     8.88 %     9.72 %       100.00 %     100.00 %   For the three months ended June 30, 2023 and 2022, the company had the following sales by products:   Product   June 30, 2023     June 30, 2022                 Facetone   $ 16,142     $ 9,746   Software hosting and reselling     3,188       2,507       $ 19,330     $ 12,253
Significant Judgments	Significant Judgments   The Company’s contracts with customers include multiple Software products and services to deliver and in most of the contracts, the price of the separately identifiable features are stated separately. In the event the price of the multiple products and services are not mentioned in the agreement, the Company allocates transaction price estimating the standalone selling price of the promised products and the services. The determination of stand-alone selling price for each performance obligation requires judgments. The Company determines stand-alone selling price for performance obligations based on overall pricing strategies, which consider markets in which the Company operates, historical data analysis, number of users of the product or services, size of the customer and the market price of the hardware used.
Contract Balances	Contract Balances   When the timing of revenue recognition differs from the timing of invoicing for contracts with customers, differed revenue and accrued revenue/unbilled accounts receivable are recognized by the Company. Revenues under Software Implementation contracts are invoiced on stages of completion as stipulated in the agreement and the revenue is recognized when the performance obligations are met and customer signs the user acceptance test (UAT). The Company invoices software license fees and royalty fees at the end of the period according to the customer agreement and accrued revenue/unbilled revenue is recognized for the relevant period. The maintenance fee is invoiced beginning of the period and the Company recognizes as deferred revenue in the financial statements and is ratably recognized over a period of service.   The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence.   Refer Note- 5 for “Accounts receivables and Provision for doubtful debts”
Segment Information	Segment Information   The Company has determined that its Chief Executive Officer is its Chief Operating Decision Maker. The Company’s executive reviews financial information presented on a consolidated basis for the purposes of assessing the performance and making decisions on how to allocate resources. Accordingly, the Company has determined that it operates in a single reportable segment.
Deferred Revenue	Deferred Revenue - Deferred revenue represents advance payments for software licenses, services, and maintenance billed in advance of the time revenue is recognized. As at June 30, 2023 and March 31, 2023 the Company recognized deferred revenue $11,537 and $1,343, respectively.
Accrued Revenue/Unbilled Accounts Receivable	Accrued Revenue/Unbilled Accounts Receivable - Accrued revenue/Unbilled accounts receivable primarily occur due to the timing of the respective billings, which occur subsequent to the end of each reporting period. As at June 30, 2023 and March 31, 2023, unbilled /accrued revenues were $4,954 and $774, respectively.    The Company had no contract liabilities and assets recognized for cost to fulfill a requirement of a customer as at June 30, 2023.
Cost of Revenue	Cost of Revenue   Cost of revenue mainly includes purchases, product implementation costs, amortization of product development, developer support and implementation, and consultancy fees related to the products offered by the Company. The aggregate cost related to the software implementations, including support and consulting services pertaining to the revenue recognized during the reporting period, is recognized as Cost of Revenue.
Product research and development	Product research and development   Product research and development expenses consist primarily of salary and benefits for the Company’s development and technical support staff, contractors’ fees and other costs associated with the enhancements of existing products and services and development of new products and services. Costs incurred for software development prior to technological feasibility are expensed as product research and development costs in the period incurred. Once the point of technological feasibility is reached, which is generally upon the completion of a working prototype that has no critical bugs and is a release candidate, development costs are capitalized until the product is ready for general release and are classified within “Intangibles assets” in the accompanying consolidated balance sheets. The Company amortizes capitalized software development costs using the greater of the ratio of the product’s current gross revenues to the total of current gross revenues and expected gross revenues or on a straight-line basis over the estimated economic life of the related product, which is typically four years.   During the three months ended June 30, 2023 and, June 30, 2022, the Company has not capitalized product development cost.
Advertising Costs	Advertising Costs   The Company expenses advertising costs as incurred. No advertising expenses were incurred during the three months ended June 30, 2023 and 2022.
Income Taxes	Income Taxes   The Company accounts for income taxes using the asset and liability method. 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 rates is recognized in income in the period that includes the enactment date. Deferred tax assets and liabilities are not recognized in the current financials due to recurring tax losses and the uncertainty of the realization of the tax allowances. Withholding taxes deducted from the source of income from foreign operations are debited to profit and loss account due to non-refundable status.
Comprehensive Income	Comprehensive Income   The Comprehensive Income Topic of the FASB Accounting Standards Codification establishes standards for reporting and presentation of comprehensive income and its components in a full set of financial statements. Comprehensive income from April 1, 2015 through June 30, 2023, includes only foreign currency conversion gains (losses), and is presented in the Company’s consolidated statements of comprehensive income.   Changes in Accumulated Other Comprehensive Income (Loss) by Component during the periods ending on June 30, 2023 and March 31, 2023 were as follows:   Foreign Currency Translation gains (losses)                   Balance, March 31, 2022   $ 1,245,916   Translation rate gain (loss)     147,624   Balance, March 31, 2023   $ 1,393,540   Translation rate gain (loss)     (91,984 ) Balance, June 30, 2023   $ 1,302,156
Leases	Leases   Lessor   There are no significant changes in recognizing the Lessor under ASC 842 compared to the previous model. Changes were made to the accounting guidance of lessor and lessee, and the key aspects of the introduced model is to align the recognition criteria with new revenue recognition standard ASC 606. Under the new guidance, contract consideration is allocated to its lease components and non-lease components (such as maintenance). For the Company as a lessor, non-lease components of the contract will be accounted under ASC Topic 606, Revenue from Contracts with Customers, unless the Company elects a lessor practical expedient to not separate the non-lease components from the associated lease component. The amendments in ASU 2018-11 also provide lessors with a practical expedient, by class of underlying asset, to not separate non-lease components from the associated lease component. To elect the practical expedient, the timing and pattern of transfer of the lease and non-lease components must be the same and the lease component must meet the criteria to be classified as an operating lease. If these criteria’s are met, the single component can be accounted either ASC 842 or ASC 606, depending on the predominant component(s). The lessor practical expedient to not separate non-lease components from the associated component must be elected for all existing and new leases.   As lessor, the Company expects that post-adoption substantially all existing leases will have no change in the timing of revenue recognition until their expiration or termination. The Company expects to elect the lessor’s practical expedient to not separate non-lease components such as maintenance from the associated lease for all existing and new leases and to account for the combined component as a single lease component. The timing of revenue recognition is expected to be the same for the majority of the Company’s new leases as compared to similar existing leases; however, certain categories of new leases could have different revenue recognition patterns as compared to similar existing leases.   For the leases that are accounted as operating leases, income is recognized on a straight-line basis over the term of the lease contract. Generally, when a lease is more than 180 days delinquent (where more than three monthly payments are owed), the lease is classified as being on nonaccrual and the Company has to stops recognizing leasing income on that date. Payments received from leases in nonaccrual status generally reduce the lease receivable. Leases on nonaccrual status remain classified as such until there is sustained payment performance that, in the Company’s judgment, would indicate that all contractual amounts will be collected in full.   Lessee   The Company adopted ASU 2016-02 effective April 1, 2019 using the modified retrospective approach. The new standard establishes a right-of-use model (“ROU”) that requires a lessee to recognize a ROU asset and lease liability on the balance sheet for all leases with a term longer than 12 months. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the income statement. In connection with the adoption, the Company will elect to utilize the modified retrospective presentation whereby the Company will continue to present prior period financial statements and disclosures under ASC 840. In addition, the Company will elect the transition package of three practical expedients permitted within the standard, which eliminates the requirements to reassess prior conclusions about lease identification, lease classification and initial direct costs. Further, the Company will adopt a short-term lease exception policy, permitting us to not apply the recognition requirements of this standard to short-term leases (i.e. leases with terms of 12 months or less) and an accounting policy to account for lease and non-lease components as a single component for certain classes of assets.   The Company categorizes leases at their inception as either operating or capital leases. On certain lease agreements, the Company may receive rent holidays and other incentives. The Company recognizes lease costs on a straight-line basis without considering the deferred payment terms, such as rent holidays, that defer the commencement date of required payments.
Recent Accounting Pronouncements	Recent Accounting Pronouncements   Changes to U.S. GAAP are established by the Financial Accounting Standards Board (FASB) in the form of accounting standards updates (ASUs) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Newly issued ASUs not listed below are expected to have no impact on the Company’s consolidated financial position and results of operations, because either the ASU is not applicable, or the impact is expected to be immaterial.   The Company has reviewed the recent accounting pronouncements and believes that they will not have material impact on the Company’s financial position and results of operations.   Not yet adopted   Disclosures: In August 2018, the FASB issued ASU 2018-13. Fair Value Measurement (Topic 820) Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. The amendments in the standard apply to all entities that are required, under existing GAAP, to make disclosures about recurring or nonrecurring fair value measurements. ASU 2018-13 removes, modifies, and adds certain disclosure requirements in ASC 820, Fair Value Measurement. The standard is effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.   Collaborative Arrangement: Clarifying the Interaction between Topic 808 and Topic 606, which clarifies when transactions between participants in a collaborative arrangement are within the scope of the FASB’s revenue standard, Topic 606. The standard is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.   Intangibles-Goodwill and Other-Internal-Use Software: In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract. ASU 2018-15 (Subtopic 350-40) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Jun. 30, 2023
Product Information [Line Items]
Schedule of Provision for Doubtful Debts Based on Period Outstanding	Trade receivables outstanding:   Provision   Over 24 months     100 % Over 18 months     50 % Over 15 months     25 % Over 12 months     10 % Over 9 months     5 %
Schedule of Estimated Useful Lives of Fixed Assets	Useful lives of the fixed assets are as follows:   Furniture & fittings   5 years Improvements to lease hold assets   Lease term Office equipment   5 years Computer equipment (Data processing equipment)   3 years Website development   4 years
Schedule of Sales by Products	For the three months ended June 30, 2023 and 2022, the company had the following sales by products:   Product   June 30, 2023     June 30, 2022                 Facetone   $ 16,142     $ 9,746   Software hosting and reselling     3,188       2,507       $ 19,330     $ 12,253
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in Accumulated Other Comprehensive Income (Loss) by Component during the periods ending on June 30, 2023 and March 31, 2023 were as follows:   Foreign Currency Translation gains (losses)                   Balance, March 31, 2022   $ 1,245,916   Translation rate gain (loss)     147,624   Balance, March 31, 2023   $ 1,393,540   Translation rate gain (loss)     (91,984 ) Balance, June 30, 2023   $ 1,302,156
Revenue Benchmark [Member]
Product Information [Line Items]
Schedule of Concentrations of Risk	For the three months ended June 30, 2023 and 2022, the Company had following concentrations of revenues with customers:   Customer   June 30, 2023     June 30, 2022                 A     20.88 %     28.21 % B     17.44 %     24.70 % C     17.39 %     22.79 % D     10.32 %     14.58 % E     25.09 %     0.00 % Other misc. customers     8.88 %     9.72 %       100.00 %     100.00 %

Accounts Receivable (Tables)	3 Months Ended
	Jun. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Accounts Receivables	Following is a summary of accounts receivable as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Accounts receivable – Trade   $ 40,661     $ 29,224   Less: Provision for doubtful debts     (19,729 )     (27,541 )   $ 20,932     $ 1,683
Accounts Receivable [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Concentrations of Risk	As at June 30, 2023 and March 31, 2023, the Company had following concentrations of accounts receivables with customers:   Customer   June 30, 2023     March 31, 2023   A     6.57 %     39.51 % B     3.49 %     43.51 % C     0.00 %     0.00 % D     0.00 %     16.98 % E     66.14 %     0.00 % F     23.80 %     0.00 %     100.00 %     100.00 %

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Jun. 30, 2023
Prepaid Expenses And Other Current Assets
Schedule of Prepaid Expenses and Other Current Assets	Following is a summary of prepaid expenses and other current assets as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Dial Desk (Pvt) Ltd   $ 61,103     $ 57,475   Security deposits     9,634       9,361   David E. Wise IOLTA account     4,780       4,780   Prepayments     1,491       1,865   Other receivables     81       423     $ 77,089     $ 73,904

Property and Equipment (Tables)	3 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Following table illustrates net book value of property and equipment as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Office equipment   $ 1,048     $ 992   Furniture & fittings     70,329       66,547   Computer equipment (data processing equipment)     60,699       57,143   Improvements to lease hold assets     274       5,254   Website development     20,849       20,092       153,199       150,028   Accumulated depreciation and amortization     (143,126 )     (139,483 ) Net fixed assets   $ 10,073     $ 10,545

Intangible assets (Tables)	3 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets comprise of capitalization of certain costs pertaining to products development which meets the criteria as set forth above under Note 3. Following table illustrates the movement in intangible assets as at June 30, 2023 and March 31, 2023:       June 30, 2023     March 31, 2023   Opening balance   $ 242,627     $ 251,439   Add: Costs capitalized during the period     -       200,000   Less:             (23,843 ) Cost transferred     -       (114,436 ) Cost Written off     -       (39,803 ) Translational gain/ (loss)     (3,068 )     (30,730 ) Net Intangible Assets   $ 239,559     $ 242,627

Accounts Payable (Tables)	3 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accounts Payable	Following is a summary of accounts payable as at June 30, 2023 and March 31, 2023:       June 30, 2023     March 31, 2023   Accounts payable- employees   $ 238,491     $ 219,346   Supplier payable     76,589       87,369   Canagey Capital (Pvt) Ltd     42,693       40,397   Other supplier payable     40,267       38,101   EPSI Computers (Pvt) Ltd     19,419       18,374   Due to Guha Takurta     11,921       12,179     $ 429,380     $ 415,766

Taxes Payables (Tables)	3 Months Ended
	Jun. 30, 2023
Taxes Payables
Schedule of Taxes Payables	Taxes payable comprised of items listed below as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   PAYE   $ 103,985     $ 98,967   ESC Payable     5,207       4,927   WHT payable     2,542       2,188   Stamp duty payable     3       3     $ 111,737     $ 106,085

Accruals and Other Payables (Tables)	3 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accruals and Others Payables	Following is a summary of accruals and other payables as at June 30, 2023 and March 31, 2023;       June 30, 2023     March 31, 2023   Accruals   $ 80,289     $ 76,331   Other payables     17,000       17,000   Accrued interest     9,910       9,910   Audit fee payable     3,209       3,614     $ 110,407     $ 106,855

Cost of Revenue (Tables)	3 Months Ended
	Jun. 30, 2023
Cost Of Revenue
Summary of Cost of Revenue	Following is the summary of cost of revenue for the three months ending June 30, 2023 and 2022;       June 30, 2023     June 30, 2022   Developer Support and Implementation   $ 1,806     $ 1,249   Other external services     368       36   Purchases/ hosted servers     79       180   Product development cost written off     -       8,137     $ 2,253     $ 9,602

General and Administrative Expenses (Tables)	3 Months Ended
	Jun. 30, 2023
General And Administrative Expenses
Summary of General and Administrative Expenses	Following is the summary of general and administrative expenses for the three months ending June 30, 2023 and 2022;       June 30, 2023     June 30, 2022                 Consulting fee     10,805       15,636   Other professional services     5,112       2,855   Legal Fee     4,500       4,500   OTC market Fees     3,000       3,000   Audit fees     2,618       2,565   Gratuity     2,264       -   Director fees     1,113       -   Electricity charges     738       140   Office maintenance     683       221   Internet charges     600       413   Transfer agent fees     600       450   Secretarial fees     589       163   Staff welfare     409       360   Office rent     405       1,468   Telephone charges     397       329   Software rentals     247       226   Professional fees     205       200   Other expenses     171       166   Computer maintenance     155       162   Printing and stationery     60       412   Filling fee and subscription     44       68   Stamp duty expenses     25       18         34,740       33,352

Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Guarantee Provided by Existed Company	Guarantees provided by the company existed on the balance sheet date are as follows:   Date     Description   Amount     7/31/2014     Guarantee for SLT   $ 282     8/10/2015     Guarantee for LOLC     797     10/9/2018     Rent deposit for office space     5,479     10/14/2019     Security deposit for CEB     498     10/21/2019     Security deposit for CEB     198               $ 7,254

Leases (Tables)	3 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Operating Lease	The following costs are related to the operating lease of the Company for the period ended June 30, 2023:   Components of total lease cost:   June 30, 2023   Operating lease depreciation   $ 2,087   Operating lease interest     690   Total lease cost   $ 2,777

Organization and Nature of Operations (Details Narrative)	Dec. 03, 2014
Dial Desk Pte Limited [Member]
Restructuring Cost and Reserve [Line Items]
Acquisition percentage	80.00%

Basis of Presentation (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 30,133	$ 8,787	$ (667,005)
Net cash provided by operating activities	75,573	(251,006)
Net cash provided by operating activities	(75,573)	$ 251,006
Working capital deficit	1,715,768		1,630,546
Employee provident fund and employee trust fund	234,632		220,790
Stockholders' deficit	$ 1,944,317		$ 1,822,663	$ 2,859,460

Schedule of Provision for Doubtful Debts Based on Period Outstanding (Details) - Trade Receivables Outstanding [Member]	3 Months Ended
	Jun. 30, 2023
Over 24 Months [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provisioning for trade receivables outstanding percentage over period	100.00%
Over 18 Months [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provisioning for trade receivables outstanding percentage over period	50.00%
Over 15 Months [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provisioning for trade receivables outstanding percentage over period	25.00%
Over 12 Months [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provisioning for trade receivables outstanding percentage over period	10.00%
Over 9 Months [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provisioning for trade receivables outstanding percentage over period	5.00%

Schedule of Estimated Useful Lives of Fixed Assets (Details)	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	15 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	5 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment description	Useful Life, Lease Term [Member]
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	5 years
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Website Development [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	4 years

Schedule of Concentrations of Risk (Details)	3 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023
Product Information [Line Items]
Concentrations of risk percentage	100.00%		100.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Concentrations of risk percentage	100.00%	100.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer A [Member]
Product Information [Line Items]
Concentrations of risk percentage	20.88%	28.21%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer B [Member]
Product Information [Line Items]
Concentrations of risk percentage	17.44%	24.70%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer C [Member]
Product Information [Line Items]
Concentrations of risk percentage	17.39%	22.79%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer D [Member]
Product Information [Line Items]
Concentrations of risk percentage	10.32%	14.58%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer E [Member]
Product Information [Line Items]
Concentrations of risk percentage	25.09%	0.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Other Misc Customers [Member]
Product Information [Line Items]
Concentrations of risk percentage	8.88%	9.72%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer A [Member]
Product Information [Line Items]
Concentrations of risk percentage	6.57%		39.51%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer B [Member]
Product Information [Line Items]
Concentrations of risk percentage	3.49%		43.51%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer C [Member]
Product Information [Line Items]
Concentrations of risk percentage	0.00%		0.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer D [Member]
Product Information [Line Items]
Concentrations of risk percentage	0.00%		16.98%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer E [Member]
Product Information [Line Items]
Concentrations of risk percentage	66.14%		0.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer F [Member]
Product Information [Line Items]
Concentrations of risk percentage	23.80%		0.00%

Schedule of Sales by Products (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Product Information [Line Items]
Revenue	$ 19,330	$ 12,253
Face Tone [Member]
Product Information [Line Items]
Revenue	16,142	9,746
Software Hosting And Reselling [Member]
Product Information [Line Items]
Revenue	$ 3,188	$ 2,507

Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023
Accounting Policies [Abstract]
Foreign currency translation gain (loss), beginning	$ 1,393,540	$ 1,245,916
Translation rate gain (loss)	(91,984)	147,624
Foreign currency translation gain (loss), ending	$ 1,302,156	$ 1,393,540

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]
Cash equivalents	$ 0		$ 0
Estimated useful life	15 years
Deferred revenue, current	$ 11,537		1,343
Unbilled/accrued revenues	4,954		$ 774
Advertising expense	$ 0	$ 0
DSSL and DSS [Member]
Restructuring Cost and Reserve [Line Items]
Business acquisition percentage of voting interests acquired	100.00%
DDPL [Member]
Restructuring Cost and Reserve [Line Items]
Business acquisition percentage of voting interests acquired	80.00%

Reverse Recapitalization (Details Narrative) - USD ($)		12 Months Ended
	Dec. 03, 2014	Mar. 31, 2023	Jun. 30, 2023
Cash consideration on exchange		$ 117,000
Common stock, shares outstanding		88,375,838	88,375,838
Common stock, shares issued		88,375,838	88,375,838
Duo Software Pvt Limited (DSSL) and Duo Software Pte Limited (DSS) [Member]
Shareholder acquisition, percent	100.00%
Common Stock [Member]
Number of stock issued during period, shares		14,265,942
Cash consideration on exchange		$ 14,266
Duo Software (Pvt.) Limited DSSL [Member]
Common stock, shares outstanding	5,000,000
Duo Software (Pvt.) Limited DSSL [Member] | Series A Preferred Stock [Member]
Number of stock issued during period, shares	5,000,000
Cash consideration on exchange	$ 310,000
Duo Software (Pvt.) Limited DSSL [Member] | Common Stock [Member]
Number of stock issued during period, shares	28,000,000
Duo Software (Pte.) Limited DSS [Member]
Common stock, shares outstanding	10,000
Common stock, shares issued	10,000
Duo Software (Pte.) Limited DSS [Member] | Common Stock [Member]
Number of stock issued during period, shares	2,000,000

Schedule of Accounts Receivables (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Receivables [Abstract]
Accounts receivable – Trade	$ 40,661	$ 29,224
Less: Provision for doubtful debts	(19,729)	(27,541)
Accounts receivable net	$ 20,932	$ 1,683

Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Prepaid Expenses And Other Current Assets
Dial Desk (Pvt) Ltd	$ 61,103	$ 57,475
Security deposits	9,634	9,361
David E. Wise IOLTA account	4,780	4,780
Prepayments	1,491	1,865
Other receivables	81	423
Prepaid Expenses and Other Current assets	$ 77,089	$ 73,904

Schedule of Property and Equipment (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Gross fixed assets	$ 153,199	$ 150,028
Accumulated depreciation and amortization	(143,126)	(139,483)
Net fixed assets	10,073	10,545
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross fixed assets	1,048	992
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Gross fixed assets	70,329	66,547
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Gross fixed assets	60,699	57,143
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross fixed assets	274	5,254
Software Development [Member]
Property, Plant and Equipment [Line Items]
Gross fixed assets	$ 20,849	$ 20,092

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 3,428	$ 661

Schedule of Intangible Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Opening balance	$ 242,627	$ 251,439
Add: Costs capitalized during the period		200,000
Less:		(23,843)
Cost transferred		(114,436)
Cost Written off		(39,803)
Translational gain/ (loss)	(3,068)	(30,730)
Net Intangible Assets	$ 239,559	$ 242,627

Schedule of Accounts Payable (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Payables and Accruals [Abstract]
Accounts payable- employees	$ 238,491	$ 219,346
Supplier payable	76,589	87,369
Canagey Capital (Pvt) Ltd	42,693	40,397
Other supplier payable	40,267	38,101
EPSI Computers (Pvt) Ltd	19,419	18,374
Due to Guha Takurta	11,921	12,179
Accounts payable	$ 429,380	$ 415,766

Due to Related Parties (Details Narrative) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Related Party Transaction [Line Items]
Due to related parties, short term	$ 648,272	$ 600,711
Due to related parties, long term	563,400	534,552
Director [Member] | Related Party [Member]
Related Party Transaction [Line Items]
Due to related parties, short term	648,272	600,711
Due to related parties, long term	$ 563,400	$ 534,552

Schedule of Taxes Payables (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Operating Loss Carryforwards [Line Items]
Taxes payable	$ 111,737	$ 106,085
P A Y E [Member]
Operating Loss Carryforwards [Line Items]
Taxes payable	103,985	98,967
E S C Payable [Member]
Operating Loss Carryforwards [Line Items]
Taxes payable	5,207	4,927
W H T Payable [Member]
Operating Loss Carryforwards [Line Items]
Taxes payable	2,542	2,188
Stamp Duty Payable [Member]
Operating Loss Carryforwards [Line Items]
Taxes payable	$ 3	$ 3

Schedule of Accruals and Others Payables (Details) - USD ($)	Jun. 30, 2023	Mar. 31, 2023
Payables and Accruals [Abstract]
Accruals	$ 80,289	$ 76,331
Other payables	17,000	17,000
Accrued interest	9,910	9,910
Audit fee payable	3,209	3,614
Accruals and other payables	$ 110,407	$ 106,855

Summary of Cost of Revenue (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cost of revenue	$ 2,253	$ 9,602
Product development cost written off		8,137
Developer Support And Implementation [Member]
Cost of revenue	1,806	1,249
Other External Services [Member]
Cost of revenue	368	36
Purchases Hosted Servers [Member]
Cost of revenue	$ 79	$ 180

Summary of General and Administrative Expenses (Details) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
General And Administrative Expenses
Consulting fee	$ 10,805	$ 15,636
Other professional services	5,112	2,855
Legal Fee	4,500	4,500
OTC market Fees	3,000	3,000
Audit fees	2,618	2,565
Gratuity	2,264
Director fees	1,113
Electricity charges	738	140
Office maintenance	683	221
Internet charges	600	413
Transfer agent fees	600	450
Secretarial fees	589	163
Staff welfare	409	360
Office rent	405	1,468
Telephone charges	397	329
Software rentals	247	226
Professional fees	205	200
Other expenses	171	166
Computer maintenance	155	162
Printing and stationery	60	412
Filling fee and subscription	44	68
Stamp duty expenses	25	18
General and administrative expense	$ 34,740	$ 33,352

Selling and Distribution Expenses (Details Narrative) - USD ($)	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Selling And Distribution Expenses
Selling and distribution expenses	$ 1,413	$ 107

Equity (Details Narrative) - $ / shares	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023
Equity [Abstract]
Common stock, shares authorized	400,000,000	400,000,000
Common stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred shares conversion description	One preferred share will convert into ten (10) common shares no earlier than 24 months and 1 day after the issuance
Preferred stock conversion shares	10

Schedule of Guarantee Provided by Existed Company (Details) - USD ($)	Oct. 21, 2019	Oct. 14, 2019	Oct. 09, 2018	Aug. 10, 2015	Jul. 31, 2014	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Guarantee description	Security deposit for CEB	Security deposit for CEB	Rent deposit for office space	Guarantee for LOLC	Guarantee for SLT
Guarantee amount	$ 198	$ 498	$ 5,479	$ 797	$ 282	$ 7,254

Schedule of Operating Lease (Details)	3 Months Ended
	Jun. 30, 2023 USD ($)
Components of total lease cost:
Operating lease depreciation	$ 2,087
Operating lease interest	690
Total lease cost	$ 2,777

Leases (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2023	Mar. 31, 2023
Leases [Abstract]
Short- term lease expenses paid	$ 1,940	$ 3,519
Right of use lease asset	12,858	$ 14,194
Right of use liability	$ 14,633

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