Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405]

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K

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

For the fiscal year ended March 31, 2023

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

For the transition period from to

Commission File No. 0-28034

NORDICUS PARTNERS CORPORATION

(Name of small business issuer in its charter)

Delaware

04-3186647

(State or other jurisdiction

of incorporation or organization)

(I.R.S. Employer

Identification No.)

3651 Lindell Road, Suite D565, Las Vegas, Nevada		89103
(Address of principal executive offices)		(Zip Code)

Issuer’s telephone number (424) 256-8560

Securities registered under Section 12(b) of the Exchange Act:

Common Stock, $.001 par value per share		None
Title of each class		Name of each exchange on which registered

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

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes ☐ No ☒

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 every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T 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, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth 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. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter. $646,121 as of September 30, 2022.

As of July 12, 2023, 10,796,248 shares of the registrant’s Common Stock were outstanding.

NORDICUS PARTNERS CORPORATION

(Formerly EKIMAS Corporation)

FORM 10-K

FOR THE YEAR ENDED MARCH 31, 2023

INDEX

PART I
Item 1.	Business	3
Item 1A.	Risk Factors	5
Item 1B.	Unresolved Staff Comments	5
Item 2.	Properties	5
Item 3.	Legal Proceedings	5
Item 4.	Mine Safety Disclosures	5
PART II
Item 5.	Market Information for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	6
Item 6.	[Reserved]	7
Item 7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	7
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk.	9
Item 8.	Financial Statements and Supplementary Data	10
Item 9.	Changes In and Disagreements With Accountants on Accounting and Financial Disclosure	11
Item 9A.	Controls and Procedures	11
Item 9B.	Other Information	11
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	12
Item 11.	Executive Compensation	13
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	14
Item 13.	Certain Relationships and Related Transactions, and Director Independence	15
Item 14.	Principal Accounting Fees and Services	16
PART IV
Item 15.	Exhibits, Financial Statement Schedules	17
Item 16	Form 10-K Summary	17
	Signatures	18

PART I

Item 1. Business.

Cautionary Note Regarding Forward Looking Statements

This Report on Form 10-K contains certain statements that are “forward-looking” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Litigation Reform Act”). These forward-looking statements and other information are based on our beliefs as well as assumptions made by us using information currently available.

The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “will,” “should” and similar expressions, as they relate to us, are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or using other similar expressions.

In accordance with the provisions of the Litigation Reform Act, we are making investors aware that such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this Report on Form 10-K. For example, given the cessation of our operations as a developer, manufacturer, marketer and seller of advanced polymers on January 31, 2020, resulting from the sale of substantially all of our assets to an independent third party, we became engaged in efforts to identify an operating company to acquire or merge with through an equity-based exchange transaction whereby such a transaction would likely result in a change in control. If we are unable to effect a transaction with an operating company, we may be required to cease all operations, including liquidation through bankruptcy proceedings. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements contained herein, which speak only as of the date hereof. We assume no responsibility to update any forward-looking statements as a result of new information, future events, or otherwise except as required by law.

Corporate History

We were founded in 1993 as a subsidiary of PolyMedica Corporation (“PolyMedica”). In June 1996, PolyMedica distributed all of the shares of CardioTech International, Inc.’s common stock, par value $0.01 per share, which PolyMedica owned, to PolyMedica stockholders of record. We were engaged in the business of developing advanced polymer materials for use in medical devices designed for treating a broad range of anatomical sites and disease states. In July 1999, we acquired the assets of Tyndale-Plains-Hunter (“TPH”), a manufacturer of specialty hydrophilic polyurethanes.

In April 2001, we acquired Catheter and Disposables Technology, Inc. (“CDT”), a contract manufacturer of advanced disposable medical devices. In April 2003, we acquired Gish Biomedical, Inc. (“Gish”), a manufacturer of single use cardiopulmonary bypass products. In the development of our business model, we reviewed the strategic fit of our various business operations and determined that CDT and Gish did not fit our strategic direction. Gish was sold in July 2007 and CDT was sold in March 2008.

Effective October 26, 2007, pursuant to stockholder approval, we were reincorporated from a Massachusetts corporation to a Delaware corporation. We changed our name from CardioTech International, Inc. to AdvanSource Biomaterials Corporation, effective October 15, 2008.

On November 25, 2019, we entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Mitsubishi Chemical Performance Polymers, Inc., a Delaware corporation (“MCPP”) for the sale of substantially all of our assets for a total purchase price of $7,250,000. The Asset Purchase Agreement was approved by our stockholders on January 21, 2020. As a result, we ceased operating as a manufacturer and seller of advanced polymers on January 31, 2020 (the “Closing Date”). Subsequent to the Closing Date, we became engaged in efforts to identify an (i) operating company to acquire or merge with through an equity-based exchange transaction or (ii) investor interested in purchasing a majority interest in our common stock, whereby either transaction would likely result in a change in control. Although certain opportunities have been investigated to determine whether a potential merger or investment opportunity could add value for the benefit of our shareholders, we have not yet entered into any binding arrangements.

On March 3, 2020, we filed a Certificate of Amendment to the Company’s Certificate of Incorporation, which amendment was unanimously approved by our Board of Directors, to change our name AdvanSource Biomaterials Corporation to EKIMAS Corporation.

On October 12, 2021, we entered into a Stock Purchase Agreement (the “SPA”) with Reddington Partners LLC, a California limited liability company (“Reddington”) providing for the purchase of a total of 5,114,475 of our common stock, on a post-split basis, or approximately 90% of our total shares of common stock outstanding for total cash consideration of $400,000. Reddington purchased in two tranches on October 12, 2021 and March 15, 2022.

Pursuant to the SPA, the Company effectuated a 1-for 50 reverse stock split on March 11, 2022 (the “Reverse Split”). Accordingly, on a post-split basis, the shares purchased in connection with the First Closing resulted in Reddington owning 422,725 shares of our common stock. As set forth in the SPA, Reddington then purchased from us on March 15, 2022, an additional 4,691,750 shares of our common stock, on a post-split basis (the “Second Closing”). After the issuance thereof Reddington owned 5,114,475 shares of our common stock, or approximately 90% of our total shares of common stock outstanding.

On February 23, 2023, the Company and Nordicus Partners A/S, a Danish stock corporation, consummated the transactions contemplated by that certain Contribution Agreement (the “Contribution Agreement”) by and among the Company, Nordicus, GK Partners ApS (“GK Partners”), Henrik Rouf and Life Science Power House ApS (“LSPH”). GK Partners, Rouf and LSPH are collectively referred to herein as the “Sellers”, and each individually as a “Seller”). Pursuant to the Contribution Agreement the Sellers contributed, transferred, assigned and conveyed to the Company all right, title and interest in and to one hundred percent (100%) of the issued and outstanding capital stock of Nordicus for an aggregate of 2,500,000 shares of the Company’s common stock, par value $0.001 per share. As a result of the Business Combination, Nordicus became a 100% wholly owned subsidiary of the Company.

On May 17, 2023, the Company changed its name to Nordicus Partners Corporation and its ticker symbol to NORD.

Our Business

We are a financial consulting company, specializing in providing Nordic companies with the best possible conditions to establish themselves on the U.S. market, taking advantage of management’s combined +90 years of experience in the corporate sector, serving in different capacities both domestically and globally.

Our core competencies lie in assisting Danish as well as other Nordic and international companies in different areas of corporate finance activities, such as:

	●	Business valuation
	●	Growth strategy – budgeting included
	●	Investment Memorandum
	●	Attracting capital for businesses
	●	Reverse Take Overs (RTOs)
	●	Company acquisitions and sales

The aforementioned areas of expertise are widely applicable in a lot of industries; however, the companies we service primarily operate in the following sectors:

	●	Green Energy / Clean Tech,
	●	Life Science
	●	E-commerce,
	●	Blockchain, and
	●	SaaS

Our mission going forward, is to assist the right Nordic companies realize their growth strategy, by fine tuning systems and processes, sharpening the commercial focus and providing companies with the best possible guidance and setup suited to successfully establish themselves on the U.S. market.

Through our business operations, we are being presented with numerous business opportunities and ventures. On occasion we view some of those businesses attractive enough to engage with ourselves and thus acquire an ownership stake in the company. Hence, potentially creating an added revenue stream – alongside the fees from our corporate finance services – if the company’s value increases over time.

Besides the value we provide through our direct involvement with the companies, we have a comprehensive network of business partners and associates, which spans across Europe and the U.S.

We also operate as a business incubator, in which we can provide added value by accelerating and smoothing companies’ transition to the U.S. through a number of support resources and services such as office space, lawyers, bookkeepers, marketing specialists, etc. with years of experience navigating through the U.S. marketplace. Hence, providing companies with the optimal conditions needed for their international expansion.

Employees

We intend to employ outside contractors when needed, as it pertains to legal advice, market analysts, funding specialists, marketing specialists, corporate valuations and investor relations.

Item 1A. Risk Factors

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this Item.

Item 1B. Unresolved Staff Comments

None

Item 2. Properties

None.

Item 3. Legal Proceedings

We are not the subject of any pending legal proceedings; and to the knowledge of management, no proceedings are presently contemplated against us by any federal, state or local governmental agency. Further, to the knowledge of management, no director or executive officer is party to any action in which any has an interest adverse to us.

Item 4. Mine Safety Disclosures

Not applicable.

PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Prior to August 1, 2020, our common stock was quoted on the OTCQB tier of The OTC Markets under the ticker symbol “ASNB.” Effective August 1, 2020, we voluntarily downgraded to the OTC PINK tier of the OTC Markets. On May 17, 2023, the Company changed its name to Nordicus Partners Corporation and its ticker symbol to NORD.

Our shares are subject to Section 15(g) and Rule 15g-9 of the Securities and Exchange Act, commonly referred to as the “penny stock” rule. The rule defines penny stock to be any equity security that has a market price less than $5.00 per share, subject to certain exceptions. These rules may restrict the ability of broker-dealers to trade or maintain a market in our common stock and may affect the ability of shareholders to sell their shares. Broker-dealers who sell penny stocks to persons other than established customers and accredited investors must make a special suitability determination for the purchase of the security. Accredited investors, in general, include individuals with assets in excess of $1,000,000 (not including their personal residence) or annual income exceeding $200,000 or $300,000 together with their spouse, and certain institutional investors. The rules require the broker-dealer to receive the purchaser’s written consent to the transaction prior to the purchase and require the broker-dealer to deliver a risk disclosure document relating to the penny stock prior to the first transaction. A broker-dealer also must disclose the commissions payable to both the broker-dealer and the registered representative, and current quotations for the security. Finally, monthly statements must be sent to customers disclosing recent price information for the penny stocks.

Holders

As of June 23, 2023, there were approximately 112 stockholders of record of our common stock, although we believe that there are other persons who are beneficial owners of our common stock held in street name. The transfer agent and registrar for our common stock is Transfer Online, 512 SE Salmon Street, Portland, OR 97214. Their telephone number is (503) 227-2950.

Dividends

We have not paid cash or stock dividends and have no present plan to pay any dividends, intending instead to reinvest our earnings, if any. For the foreseeable future, we expect to retain any earnings to finance the operation and expansion of our business and the payment of any cash dividends on our common stock is unlikely.

Recent Sales of Unregistered Securities

On April 11, 2022, effective April 1, 2022, we issued to GK Partners ApS (“GK Partners”), a private investor located in Denmark, for financial services, a warrant to immediately purchase up to 6,000,000 shares of our common stock at an exercise price of $1.00 per share, which expires on December 31, 2023. On February 14, 2023, GK Partners exercised a portion of its warrant for 115,000 shares. The exercise price was $1.00 per share for total proceeds of $115,000.

On February 23, 2023, pursuant to the Contribution Agreement by and among the Company, Nordicus, GK Partners, Henrik Rouf and Life Science Power House ApS (“LSPH”), the Company issued 2,500,000 shares of the common stock (Note 1).

On June 20, 2023, the Company and GK Partners entered into a Stock Purchase and Sale Agreement (the “Agreement”), under which GK Partners sold to the Company 5,000,000 restricted shares of common stock of Myson, Inc. In exchange, the Company issued 2,500,000 restricted shares of its common stock to GK Partners.

Issuer Purchase of Securities

We did not repurchase any of our securities during our fiscal year ended March 31, 2023.

Securities Authorized for Issuance under Equity Compensation Plans as of the End of Fiscal 2023 Equity Compensation Plan Information

Plan Category

Number of

securities to be

issued upon

exercise of

outstanding

options, warrants

and rights

Weighted

average

exercise price of

outstanding

options,

warrants and

rights

Number of securities remaining available for future issuance

Equity compensation plans approved by board of directors

450,000

(1)

450,000

(1)

This total includes shares to be issued upon exercise of outstanding options under the 2017 Non-Qualified Equity Incentive Plan (the “2017 Plan”) that was approved and adopted by our board of directors on August 14, 2017 and authorizes the grant of a total of 7,000,000 shares of our common stock. There were stock options granted under the 2017 Plan on various dates from August 17, 2017 through December 31, 2018 which were exercisable into 6,550,000 shares of our common stock. There were no stock options outstanding as of March 31, 2023 or 2022, accordingly there were no options available for exercise under the 2017 Plan. As of March 31, 2023, there were 450,000 shares remaining to be granted under the 2017 Plan.

Stock Repurchase Plan

In June 2001, the Board of Directors adopted a share repurchase program authorizing the repurchase of up to 250,000 of our shares of common stock. In June 2004, the Board of Directors authorized the purchase of an additional 500,000 shares of common stock. Since June 2001, a total of 251,379 shares have been repurchased by us under the share repurchase program, leaving 498,621 shares remaining to purchase under the share repurchase program. No repurchases were made during the fiscal years ended March 31, 2023 and 2022. The share repurchase program authorizes repurchases from time to time in open market transactions, through privately negotiated transactions, block transactions or otherwise, at times and prices deemed appropriate by management, is not subject to an expiration date.

Stockholder Rights Plan

Our Board of Directors approved the adoption of a stockholder rights plan (the “Rights Plan”) under which all stockholders of record as of February 8, 2008 will receive rights to purchase shares of a new series of preferred stock (the “Rights”). The Rights will be distributed as a dividend. Initially, the Rights will attach to, and trade with, our common stock. Subject to the terms, conditions and limitations of the Rights Plan, the Rights will become exercisable if (among other things) a person or group acquires 15% or more of our common stock. Upon such an event, and payment of the purchase price, each Right (except those held by the acquiring person or group) will entitle the holder to acquire shares of the Company’s common stock (or the economic equivalent thereof) having a value equal to twice the purchase price. Our Board of Directors may redeem the Rights prior to the time they are triggered. In the event of an unsolicited attempt to acquire us, the Rights Plan is intended to facilitate the full realization of our stockholder value and the fair and equal treatment of all of our stockholders. The Rights Plan will not prevent a takeover attempt. Rather, it is intended to guard against abusive takeover tactics and encourage anyone seeking to acquire us to negotiate with the Board of Directors. We did not adopt the Rights Plan in response to any particular proposal.

Item 6. [Reserved]

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operation

Overview

Pursuant to the Contribution Agreement the Sellers contributed, transferred, assigned and conveyed to the Company all right, title and interest in and to one hundred percent (100%) of the issued and outstanding capital stock of Nordicus for an aggregate of 2,500,000 shares of the Company’s common stock, par value $0.001 per share (the “Purchaser Common Stock”), (such transaction, the “Business Combination”). As a result of the Business Combination, Nordicus became a 100% wholly owned subsidiary of the Company.

Our core competencies lie in assisting Danish as well as other Nordic and international companies in different areas of corporate finance activities.

Results of Operations

Fiscal Year Ended March 31, 2023 Compared to the Fiscal Year Ended March 31, 2022

Operating Expenses

During the fiscal year ended March 31, 2023, we had stock-based compensation to related parties of $8,141,501, for the fair value of warrants issued. We had no stock-based compensation expense in the prior year.

For the fiscal year ended March 31, 2023, we had professional fees of $102,286 compared to $119,863 for the fiscal year ended March 31, 2022, a decrease of $17,577 or 14.7%. The decrease is largely due to a decrease of accounting fees.

For the fiscal year ended March 31, 2023, we had consulting fees of $39,602 compared to $105,565 for the fiscal year ended March 31, 2022, a decrease of $65,963 or 62.5%. The decrease is largely due to a decrease of consulting fees for our prior CEO.

For the fiscal year ended March 31, 2023, we had general and administrative expenses of $196,500 compared to $83,743 for the fiscal year ended March 31, 2022, an increase of $112,757 or 134.6%. The increase in G&A expense is mainly due to the expense related to a cash distribution of $141,693.

Other Income

For the fiscal year ended March 31, 2023, we had interest expense of $382 and other income of $8,055, for total other income of $7,673. For the fiscal year ended March 31, 2022, we had other income of $22,000, from a cash deposit in connection with a non-binding arrangement.

Net Loss

For the fiscal year ended March 31, 2023, we had a net loss of $8,472,216 compared to $287,171 in the prior year. The large increase in our net loss in the current fiscal year is due to the non-cash expense we incurred as discussed above.

Liquidity, Capital Resources and Going Concern

As of March 31, 2023, we had cash of $7,149, a decrease of $238,796 when compared with a balance of $245,945 as of March 31, 2022.

During the fiscal year ended March 31, 2023, we had net cash of $368,347 used in operating activities compared to $282,381 used in operating activities in the prior year.

There was no cash used in or provided by investing activities during the fiscal years ended March 31, 2023 and 2022.

During the fiscal year ended March 31, 2023, net cash of $128,886 provided by financing activities. We received $115,000 from the exercise of warrants and $13,886 from a related party. We received and repaid a $40,000 loan payable.

During the fiscal year ended March 31, 2022, we had net cash of $400,000 provided by financing activities which was a result of the issuance of an additional 5,114,475 shares of our common stock to a private investor in consideration of $400,000 in cash.

Our financial statements have been presented on the basis that we are a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. During the fiscal years ended March 31, 2023 and 2022, we reported a net loss of approximately $8,472,000 and $287,000, respectively. Cash flows of approximately $368,000 and $282,000 were used in operations for the fiscal years ended March 31, 2023 and 2022, respectively. As a result, we expect our funds will not be sufficient to meet our needs for more than twelve months from the date of issuance of these financial statements. Accordingly, management believes there is substantial doubt about our ability to continue as a going concern.

Off-Balance Sheet Arrangements

As of March 31, 2023, we did not have any off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our financial condition, results of operations, liquidity, capital expenditures or capital resources.

Critical Accounting Policies

Refer to Note 2 of our financial statements contained elsewhere in this Form 10-K for a summary of our critical accounting policies and recently adopted and issued accounting standards.

Item 7A. Quantitative and Qualitative Disclosures about Market Risk

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

Item 8. Financial Statements and Supplementary Data

NORDICUS PARTNERS CORPORATION AND SUBSIDIARY

(Formerly EKIMAS Corporation)

TABLE OF CONTENTS

Report of Independent Registered Public Accounting Firm (PCAOB ID 5525)	F-1

Report of Independent Registered Public Accounting Firm (PCAOB ID 287)	F-2

Balance Sheets as of March 31, 2023 and 2022	F-3

Statements of Operations for the Years Ended March 31, 2023 and 2022	F-4

Statements of Stockholders’ Deficit for the Years Ended March 31, 2023 and 2022	F-5

Statements of Cash Flows for the Years Ended March 31, 2023 and 2022	F-6

Notes to the Consolidated Financial Statements	F-7

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of Nordicus Partners

Opinion on the Financial Statements

We have audited the accompanying consolidated balance sheet of Nordicus Partners Corporation and Subsidiary (“the Company”) as of March 31, 2023, and the related consolidated statements of operations, changes in stockholders’ equity, and cash flows for the year then ended, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2023, and the results of its operations and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company has not generated revenue, incurred losses since inception, and has an accumulated deficit. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Critical Audit Matters

Fruci & Associates II, PLLC – PCAOB ID #05525
We have served as the Company’s auditor since 2023.

Spokane, Washington
July 14, 2023

F-1

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of

Nordicus Partners Corporation (F/K/A EKIMAS Corporation)

Opinion on the Financial Statements

We have audited the accompanying balance sheet of Nordicus Partners Corporation (F/K/A EKIMAS Corporation) (the Company) as of March 31, 2022, and the related statement of operations, stockholders’ deficit, and cash flows for the year ended March 31, 2022, and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2022, and the results of its operations and its cash flows for the year ended March 31, 2022, in conformity with accounting principles generally accepted in the United States of America.

Explanatory Paragraph – Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has recurring losses and an accumulated deficit. These factors raise substantial doubt about the Company’s ability to continue as a going concern. Management’s plans in regard to these matters are described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty

Basis for Opinion

These financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Related Party Transactions

The Company has significant related party transactions with and balances due to related parties. One of the former executive officers and the current chief executive officer of the company are providing services to the Company as consultants for legal and accounting services. We addressed significant related party transactions by testing and reviewing documentation of individual transactions.

Evaluating the identification of related party transactions was complex as it involved our assessment to determine such transactions were identified by the Company.

Liggett & Webb, P.A.

We have served as the Company’s auditor since 2021.

Boynton Beach, Florida

June 27, 2022

F-2

NORDICUS PARTNERS CORPORATION AND SUBSIDIARY

(Formerly EKIMAS Corporation)

BALANCE SHEETS

	March 31, 2023			March 31, 2022
	(Consolidated)
ASSETS
Current assets:
Cash	$	7,149		$	245,945
Receivable		44,481			—
Prepaids and other current assets		770			3,500
Total current assets		52,400			249,445
Website		2,625			—
Total Assets	$	55,025		$	249,445

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued expenses	$	1,354		$	43,422
Accounts payable – related party		12,127			11,512
Related party payable		13,886			—
Total current liabilities		27,367			54,934
Total Liabilities		27,367			54,934

Commitments and contingencies		—			—

Stockholders’ equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding		—			—
Common stock; $0.001 par value; 50,000,000 shares authorized; 8,296,248 shares and 5,682,782 and 8,299,276 shares and 5,681,248 shares issued; respectively		8,296			5,681
Treasury stock, 1,534 shares at cost as of March 31, 2023 and 2022		(30,328	)		(30,328	)
Additional paid-in capital		42,246,688			33,944,605
Accumulated other comprehensive income		665			—
Accumulated deficit		(42,197,663	)		(33,725,447	)
Total stockholders’ equity		27,658			194,511
Total liabilities and stockholders’ equity	$	55,025		$	249,445

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

F-3

NORDICUS PARTNERS CORPORATION AND SUBSIDIARY

(Formerly EKIMAS Corporation)

STATEMENTS OF OPERATIONS

	2023			2022
	For the Years Ended March 31,
	2023			2022

Operating expenses:
Stock based compensation– related party	$	8,141,501		$	—
Professional fees		102,286			119,863
Consulting expense		39,602			105,565
General and administrative		196,500			83,743
Total operating expenses		8,479,889			309,171

Loss from operations		(8,479,889	)		(309,171	)

Other income (expense):
Interest expense		(382	)		—
Other income		8,055			22,000
Total other income		7,673			22,000

Loss from operations before provision for income taxes		(8,472,216	)		(287,171	)
Provision for income taxes		—			—
Net loss		(8,472,216	)		(287,171	)

Other comprehensive income:
Foreign currency translation adjustment		665			—
Comprehensive Loss	$	(8,471,551	)	$	(287,171	)

Net loss per common share – basic and diluted	$	(1.43	)	$	(0.30	)

Weighted average shared – basic and diluted		5,938,851			944,651

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

F-4

NORDICUS PARTNERS CORPORATION AND SUBSIDIARY

(Formerly EKIMAS Corporation)

STATEMENT OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE YEARS ENDED MARCH 31, 2023 AND 2022

	Shares		Amount		Capital		Deficit			Stock			Income		Equity
					Additional								Other		Total
	Common Stock				Paid-in		Accumulated			Treasury			Comprehensive		Stockholders’
	Shares		Amount		Capital		Deficit			Stock			Income		Equity
Balance at March 31, 2021		566,773	$	567	$	33,549,719	$	(33,438,276	)	$	(30,328	)	$	—	$	81,682
Common stock issued to an investor		5,114,475		5,114		394,886		—			—			—		400,000
Net loss		—		—		—		(287,171	)		—			—		(287,171	)
Balance at March 31, 2022		5,681,248		5,681		33,944,605		(33,725,447	)		(30,328	)		—		194,511
Beginning balance, value		5,681,248		5,681		33,944,605		(33,725,447	)		(30,328	)		—		194,511
Stock-based compensation - fair value of warrants– related party		—		—		8,141,501		—			—			—		8,141,501
Shares issued for acquisition		2,500,000		2,500		45,697		—			—			—		48,197
Exercise of warrants		115,000		115		114,885					—			—		115,000
Net loss		—		—		—		(8,472,216	)		—			665		(8,471,551	)
Balance at March 31, 2023		8,296,248	$	8,296	$	42,246,688	$	(42,197,663	)	$	(30,328	)	$	665	$	27,658
Balance		8,296,248	$	8,296	$	42,246,688	$	(42,197,663	)	$	(30,328	)	$	665	$	27,658

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

F-5

NORDICUS PARTNERS CORPORATION AND SUBSIDIARY

(Formerly EKIMAS Corporation)

STATEMENTS OF CASH FLOWS

	2023			2022
	For the Years Ended March 31,
	2023			2022

Cash flows from operating activities:
Net loss	$	(8,472,216	)	$	(287,171	)
Adjustments to reconcile net loss to net cash flows used in operating activities
Stock-based compensation – related party		8,141,501			—
Changes in assets and liabilities:
Prepaid expenses		3,500			(3,500	)
Accounts payable and accrued expenses		(41,132	)		8,290
Net cash used in operating activities		(368,347	)		(282,381	)

Cash flows from financing activities:
Proceeds from note payable		40,000			—
Repayment of note payable		(40,000	)		—
Proceeds from exercise of warrants		115,000			—
Cash advance - related party		13,886			—
Issuance of common stock to an investor		—			400,000
Net cash (used) provided by financing activities		128,886			400,000

Net change in cash		(239,461	)		117,619
Effect of exchange rate on cash		665			—
Cash at beginning of year		245,945			128,326
Cash at end of year	$	7,149		$	245,945

Supplemental disclosure of cash flow information:
Income taxes paid	$	—		$	—
Interest paid	$	—		$	—

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

F-6

NORDICUS PARTNERS CORPORATION AND SUBSIDIARY

(Formerly EKIMAS Corporation)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2023

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Nordicus Partners Corporation (the “Company” “Nordicus”) was founded in 1993 as a subsidiary of PolyMedica Corporation. On January 31, 2020, we completed the sale of substantially all of our assets (the “Asset Sale”) for a total purchase price of $7,250,000 pursuant to an Asset Purchase Agreement entered into between us and Mitsubishi Chemical Performance Polymers, Inc., a Delaware corporation (“MCPP”). Prior to the Closing Date, we developed and manufactured advanced polymer materials which provided critical characteristics in the design and development of medical devices. Our biomaterials were marketed and sold to medical device manufacturers who used our advanced polymers in devices designed for treating a broad range of anatomical sites and disease states.

As a result of the Asset Sale, we ceased operating as a developer, manufacturer, marketer and seller of advanced polymers. Subsequent to the Closing Date, we became engaged in efforts to identify either an (i) operating company to acquire or merge with through an equity-based exchange transaction or (ii) investor interested in purchasing a majority interest in our common stock, whereby either transaction would likely result in a change in control. On October 12, 2021, we entered into a Stock Purchase Agreement (the “SPA”) with Reddington Partners LLC, a California limited liability company (“Reddington”) providing for the purchase of a total of 5,114,475 of our common stock, on a post-split basis, or approximately 90% of our total shares of common stock outstanding for total cash consideration of $400,000. Reddington purchased in two tranches on October 12, 2021 and March 15, 2022.

On February 23, 2023, the Company and Nordicus Partners A/S, a Danish stock corporation, consummated the transactions contemplated by that certain Contribution Agreement (the “Contribution Agreement”) by and among the Company, Nordicus, GK Partners, Henrik Rouf and Life Science Power House ApS (“LSPH”). GK Partners, Rouf and LSPH are collectively referred to herein as the “Sellers”, and each individually as a “Seller”). Pursuant to the Contribution Agreement the Sellers contributed, transferred, assigned and conveyed to the Company all right, title and interest in and to one hundred percent (100%) of the issued and outstanding capital stock of Nordicus for an aggregate of 2,500,000 shares of the Company’s common stock, par value $0.001 per share. As a result of the Business Combination, Nordicus became a 100% wholly owned subsidiary of the Company.

On May 17, 2023, the Company changed its name to Nordicus Partners Corporation and its ticker symbol to NORD.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s accounting estimates include the collectability of receivables, useful lives of long-lived assets and recoverability of those assets, impairment in fair value of goodwill.

F-7

Concentration of Credit Risk

We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We continually monitor our banking relationships and consequently have not experienced any losses in our accounts. We believe we are not exposed to any significant credit risk on cash.

Cash Equivalents

The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. There were no cash equivalents for the years ended March 31, 2023 or 2022.

Principles of Consolidation

The accompanying consolidated financial statements for the year ended March 31, 2023, includes the accounts of the Company and its wholly owned subsidiary, Nordicus Partners A/S. All significant intercompany transactions have been eliminated in consolidation.

Translation Adjustment

The accounts of the Company’s subsidiary are maintained in Danish krone. According to the Codification, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, members’ capital are translated at the historical rates and income statement items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive income in accordance with the Comprehensive Income Topic of the Codification (ASC 220), as a component of Stockholders’ equity. Transaction gains and losses are reflected in the income statement.

Comprehensive Income

The Company uses SFAS 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the statements of Stockholders’ equity, except changes in paid-in capital and distributions to shareholders. Comprehensive income is included in net loss and foreign currency translation adjustments.

Stock-based Compensation

In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. ASU 2018-07 allows companies to account for nonemployee awards in the same manner as employee awards. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those annual periods.

Fair Value of Financial Instruments

The Company follows paragraph 825-10-50-10 of the FASB Accounting Standards Codification for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB Accounting Standards Codification (“Paragraph 820-10-35-37”) to measure the fair value of its financial instruments. Paragraph 820-10-35-37 establishes a framework for measuring fair value in accounting principles generally accepted in the United States of America (U.S. GAAP) and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, Paragraph 820-10-35-37 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by Paragraph 820-10-35-37 are described below:

Level 1:	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2:	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3:	Pricing inputs that are generally unobservable inputs and not corroborated by market data.

F-8

The carrying amount of the Company’s financial assets and liabilities, such as cash, prepaid expenses and accrued expenses approximate their fair value because of the short maturity of those instruments. The Company’s notes payable approximate the fair value of such instruments based upon management’s best estimate of interest rates that would be available to the Company for similar financial arrangements on March 31, 2023 and 2022.

Net Income (Loss) Per Common Share

Net income (loss) per common share is computed pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock and potentially outstanding shares of common stock during the period. The weighted average number of common shares outstanding and potentially outstanding common shares assumes that the Company incorporated as of the beginning of the first period presented. As of March 31, 2023, there are 6,635,000 potentially dilutive shares of common stock from warrants. There were no potentially dilutive shares for the year ended March 31, 2022. Diluted shares are not presented when the effect of the computations are anti-dilutive due to the losses incurred. Accordingly, there is no difference in the amounts presented for basic and diluted loss per share.

Income Taxes

Income taxes are provided for the tax effects of the transactions reported in the financial statements and consist of taxes currently due plus deferred taxes related primarily to tax net operating loss carryforwards. The deferred tax assets and liabilities represent the future tax return consequences of these differences, which will either be taxable or deductible when assets and liabilities are recovered or settled, as well as operating loss carryforwards. 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. A valuation allowance is established against deferred tax assets when in the judgment of management, it is more likely than not that such deferred tax assets will not become available. Because the judgment about the level of future taxable income is dependent to a great extent on matters that may, at least in part, be beyond the Company’s control, it is at least reasonably possible that management’s judgment about the need for a valuation allowance for deferred taxes could change in the near term.

Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax benefits” is recorded for any tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. As of March 31, 2023, and 2022, no liability for unrecognized tax benefits was required to be reported.

Recently Issued Accounting Pronouncements

The Company has implemented all new applicable accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

NOTE 3 - GOING CONCERN

The Company’s financial statements have been prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has not yet generated any revenue and has incurred losses since inception resulting in an accumulated deficit of $42,197,663 as of March 31, 2023. As a result, we expect our funds will not be sufficient to meet our needs for more than twelve months from the date of issuance of these financial statements. Accordingly, management believes there is substantial doubt about our ability to continue as a going concern.

The ability to continue as a going concern is dependent upon the Company’s recent acquisition, its generating profitable operations in the future and/or obtaining the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand, loans from third parties and/or private placement of common stock. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.

F-9

NOTE 4 - RELATED PARTY TRANSACTIONS

Mr. Michael Adams, our former chief executive officer, was a non-employee consultant and holder of less than 1.0% of our outstanding common stock as of March 31, 2022. During the fiscal years ended March 31, 2023 and 2022, Mr. Adams earned $0 and $12,000, respectively, in consulting fees and was reimbursed $0 and $2,000, respectively, for office expenses and car allowance. On October 12, 2022, Mr. Adams resigned as our chief executive officer and sole director, and Mr. Bennett J. Yankowitz was appointed as our chief executive officer and sole director.

Mr. Thomas Glasner Larsen is an affiliate of GK Partners and was a member of our board of directors from February 23, 2023, until his voluntary retirement on June 9, 2023. He was also a beneficial owner of a controlling interest in Nordicus Partners A/S until its acquisition by us on February 23, 2023.

On April 11, 2022, effective April 1, 2022, we issued to GK Partners, for financial services, a warrant to immediately purchase up to 6,000,000 shares of our common stock at an exercise price of $1.00 per share, which expires on December 31, 2023. On February 14, 2023, GK Partners exercised a portion of its warrant for 115,000 shares. The exercise price was $1.00 per share for total proceeds of $115,000.

On February 23, 2023, pursuant to the Contribution Agreement by and among the Company, Nordicus Partners A/S, GK Partners ApS (“GK Partners”), Henrik Rouf and Life Science Power House ApS (“LSPH”), we issued 2,500,000 shares of the common stock (Note 1).

On June 20, 2023, the Company and GK Partners ApS (the “Seller”) entered into a Stock Purchase and Sale Agreement (the “Agreement”), under which the Seller sold to the Company 5,000,000 restricted shares of common stock of Myson, Inc. In exchange, the Company issued 2,500,000 restricted shares of its common stock to the Seller.

Mr. Bennett Yankowitz, our chief financial officer and a director, was affiliated with legal counsel who provided us with general legal services (the “Affiliate”). We recorded legal fees paid to the Affiliate of $35,415 and $11,453 for the fiscal years ended March 31, 2023 and 2022, respectively. As of March 31, 2023 and 2022 we had a $12,217 and $11,512 payable due to the Affiliate. Mr. Yankowitz does not currently receive cash compensation for acting as our chief financial officer and director.

On November 28, 2022, we issued Mr. Yankowitz a warrant to purchase 250,000 shares of the Company’s Common Stock. The warrants have an exercise price of $1.00 per share and expire on December 31, 2027. The warrants were issued as compensation for his acting as the sole director and the chief executive officer of the Company. Refer to Note 8 valuation detail.

As of March 31, 2023, the Company has a receivable of $44,481, due from GK Partners. The amount was received in Q1 FY 2024.

NOTE 5 – NOTE PAYABLE

On October 14, 2022, the Company issued a Demand Promissory Note (“Note”) to GK Partners ApS for which it received $40,000. The Note bears interest at 3% per annum and matures June 30, 2023. On February 16, 2023, the Company repaid the $40,000 Note and $382 of interest.

NOTE 6 - PREFERRED STOCK

Preferred Stock

We have authorized 5,000,000 shares, $0.001 par value, Preferred Stock (the Preferred Stock”) of which 500,000 shares have been issued and redeemed, therefore are not considered outstanding. In addition, 500,000 shares of Preferred Stock have been designated as Series A Junior Participating Preferred Stock (the “Junior Preferred Stock”) with the designations and the powers, preferences and rights, and the qualifications, limitations and restrictions specified in the Certificate of Designation of the Junior Preferred Stock filed with the Delaware Department of State on January 28, 2008. Such number of shares may be increased or decreased by resolution of the Board of Directors; provided, that no decrease shall reduce the number of shares of Junior Preferred Stock to a number less than the number of shares then outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by us that is convertible into Junior Preferred Stock. As of March 31, 2023 and 2022, there are no shares or Preferred Stock issued or outstanding.

F-10

NOTE 7 - COMMON STOCK TRANSACTIONS

On October 12, 2021, we entered into a Stock Purchase Agreement (the “SPA”) with Reddington Partners LLC, a California limited liability company (“Reddington”) providing for the purchase of a total of 5,114,475 of our common stock, on a post-split basis, for total cash consideration of $400,000. Reddington purchased in two tranches on October 12, 2021 and March 15, 2022. Pursuant to the SPA, each of four stockholders (the “Principal Stockholders”) entered into a Voting Agreement with Reddington (the “Voting Agreements”).

The sale of the first tranche of 21,136,250 shares of our common stock, on a pre-split basis, was consummated on October 12, 2021 (the “First Closing”). At the First Closing, the Principal Stockholders entered into the Voting Agreements with Reddington, covering an aggregate of 4,434,240 shares of our common stock, on a pre-split basis. As a result of these transactions, Reddington obtained ownership or voting power over a total of 25,570,490 shares of our common stock, on a pre-split basis, constituting approximately 51.8% of our total outstanding shares. Accordingly, Reddington became the majority stockholder of the Company.

The cumulative purchase price for both tranches of shares of our common stock was $400,000. At the First Closing, Reddington paid the Company $200,000, $100,000 of which was required to be applied to the payment of our accrued and unpaid liabilities as of the First Closing date, and $100,000 of which was for working capital purposes. The remaining $200,000 was deposited to an escrow account with an independent escrow agent (the “Escrow Account”). At the Second Closing, if the $100,000 designated to pay for accrued and unpaid liabilities was not sufficient, funds from the Escrow Account were to be used to pay the remainder of such liabilities. At the Second Closing, Reddington paid us an additional $200,000. Pursuant to the SPA, any funds remaining after the payment of the accrued and unpaid liabilities, if any, and all funds in the Escrow Account, were to be combined and used solely for a special one-time cash distribution (the “Special Distribution”) by us, through a paying agent reasonably satisfactory to Reddington, to only our stockholders of record as of October 11, 2021, net of any costs associated with making the Special Distribution. Reddington and its Affiliates expressly waived any right to participate in the Special Distribution.

Our Board of Directors declared a cash distribution to stockholders pursuant to the terms and conditions of the SPA. The cash distribution of approximately $141,000, or $0.25 per share, was paid on September 22, 2022, to stockholders of record as of March 15, 2022.

On February 14, 2023, GK Partners exercised a portion of its warrant for 115,000 shares. The exercise price was $1.00 per share for total proceeds of $115,000.

NOTE 8 - WARRANTS

On April 11, 2022, effective April 1, 2022, we issued to GK Partners ApS, for financial services, a warrant to immediately purchase up to 6,000,000 shares of our common stock at an exercise price of $1.00 per share which expires on December 31, 2023. In determining the fair value of the warrant, we used the Black-Scholes pricing model having the following assumptions: (i) stock option exercise price of $1.00; (ii) fair market value of our common stock of $1.22 as quoted on the OTC Markets on the date of issuance of the Warrant; (iii) expected term of option of 1.75 years; (iv) expected volatility of 699.79%; (v) expected dividend rate of 0.0%; and (vi) risk-free interest rate of approximately 2.44%. As a result, we recorded stock-based compensation of approximately $7,316,971 for the year ended March 31, 2023.

F-11

On November 28, 2022, we issued 1) to David Volpe a warrant to purchase 500,000 shares of the Company’s Common Stock and 2) to Bennett J. Yankowitz a warrant to purchase 250,000 shares of the Company’s Common Stock. The warrants have an exercise price of $1.00 per share and expire on December 31, 2027. Mr. Volpe’s warrants were issued as compensation for consulting services provided to the Company. Mr. Yankowitz’s warrants were issued as compensation for his acting as the sole director and the chief executive officer of the Company. In determining the fair value of the warrants, we used the Black-Scholes pricing model having the following assumptions: (i) stock option exercise price of $1.00; (ii) fair market value of our common stock of $1.12 as quoted on the OTC Markets on the date of issuance of the Warrant; (iii) term of option of 5 years; (iv) expected volatility of approximately 206%; (v) expected dividend rate of 0.0%; and (vi) risk-free interest rate of approximately 3.88%. As a result, we recorded total stock-based compensation of approximately $825,000 for the year ended March 31, 2023.

SCHEDULE OF WARRANT ACTIVITIES

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Intrinsic Value
Outstanding, March 31, 2022		—			—		—		-
Issued		6,750,000		$	1.00		2.13
Cancelled		—		$	—		—
Exercised		(115,000	)	$	—		—
Outstanding, March 31, 2023		6,635,000		$	1.00		1.21	$	—

NOTE 9 – INCOME TAX

Deferred taxes are provided on a liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has evaluated Staff Accounting Bulletin No. 118 regarding the impact of the decreased tax rates of the Tax Cuts & Jobs Act. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. The U.S. federal income tax rate of 21% is being used.

Reconciliation between our effective tax rate and the United States statutory rate is as follows:

	For the Year Ended March 31, 2023			For the Year Ended March 31, 2022
Expected federal tax rate		21.0	%		21.0	%
State income taxes, net of federal tax benefit		6.3	%		6.3	%
Non-deductible expenses		0.0	%		0.0	%
Effect of net operating loss true-up		0.0	%		0.0	%
Utilization of net operating losses		(27.3	)%		(27.3	)%
Effective tax rate		0.0	%		0.0	%

Significant components of our deferred tax assets and deferred tax liabilities consist of the following:

(in thousands)	March 31, 2023			March 31, 2022
Deferred Tax Assets:
Net operating loss carryforwards	$	2,313,000		$	3,183
Valuation allowance		(2,313,000	)		(3,183	)
Net deferred tax assets	$	—		$	—

At March 31, 2023, the Company had net operating loss carry forwards of approximately $35,057,000 that may be offset against future taxable income. NOLs from tax years up to 2017 can be carried forward twenty years. Under the CARES Act, the Company can carry forward NOLs indefinitely for NOLs generated in a tax year beginning after 2017, that remain after they are carried back to tax years in the five-year carryback period. No tax benefit has been reported in the March 31, 2023, financial statements since the potential tax benefit is offset by a valuation allowance of the same amount.

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for Federal Income tax reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be limited as to use in future years. With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years before 2016.

NOTE 10 - SUBSEQUENT EVENTS

In accordance with SFAS 165 (ASC 855-10) management has performed an evaluation of subsequent events through the date that the financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

On June 9, 2023, Tom Glaesner Larsen resigned from the Company’s board of directors, and the remaining board members appointed Henrik Keller as his replacement.

On June 20, 2023, the Company and GK Partners ApS entered into a Stock Purchase and Sale Agreement (the “Agreement”), under which the Seller sold to the Company 5,000,000 restricted shares of common stock of Myson, Inc. In exchange, the Company issued 2,500,000 restricted shares of its common stock to GK Partners.

F-12

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

On October 7, 2022, the Company was notified by its auditor, Liggett & Webb, P.A. (“Liggett & Webb”) that it would no longer be offering auditing services. On October 7, 2022, the Company retained BF Borgers CPA PC to serve as the Company’s independent registered public accounting firm.

In May 2023 the Company, at the recommendation of the Company’s Board of Directors, terminated BF Borgers CPA PC as the independent registered public accounting firm for the Company and its subsidiary Nordicus Partners A/S. On May 19, 2023, the Company, based on the decision of its board of directors, approved the engagement of Fruci & Associates II, PLLC to serve as the Company’s independent registered public accounting firm.

Item 9A. Controls and Procedures.

Disclosure Controls and Procedures.

Our management, with the participation of our chief executive officer, evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2023. The term “disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), means controls and other procedures of a company that are designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s management, including its chief executive officer and chief financial officer, as appropriate, to allow timely decisions to be made regarding required disclosure. It should be noted that any system of controls and procedures, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system are met and that management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on this evaluation, our chief executive officer concluded that our disclosure controls and procedures as of March 31, 2023, were not effective at the reasonable assurance level due to limited resources in the finance and accounting functions. If successful in effecting a transaction with an operating company, we intend to take appropriate and reasonable steps to make improvements to remediate these deficiencies.

Management’s Annual Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934). A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S. generally accepted accounting principles. Internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of our assets; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that our receipts and expenditures are being made only in accordance with authorizations of our management and directors; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of our assets that could have a material effect on the interim or annual financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Our management, with the participation of our Chief Executive Officer, conducted an evaluation of the effectiveness of our internal control over financial reporting as of March 31, 2023, based on the framework in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in Internal Control (2013). Based on this assessment, our management concluded that, as of March 31, 2023, our internal controls over financial reporting were not effective at the reasonable assurance level due to limited resources in the finance and accounting functions. If successful in effecting a transaction with an operating company, we intend to take appropriate and reasonable steps to make improvements to remediate these deficiencies.

This annual report on Form 10-K does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by our registered public accounting firm pursuant to Securities and Exchange Commission rules that permit us to provide only management’s report in this annual report.

Changes in Internal Control Over Financial Reporting

There were no changes in our internal controls over financial reporting that occurred during the quarter ended March 31, 2023, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Item 9B. Other Information

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance

The following persons served as our directors and executive officers for the fiscal years ended March 31, 2023 and 2022. Each director holds office until the next annual meeting of the stockholders or until his successor has been duly elected and qualified. Each executive officer serves at the discretion of the Board of Directors of the Company.

Name	Age	Position
Henrik Rouf	56	Chief Executive Officer
Tom Glaesner Larsen (1)	53	Director
Christian Hill-Madsen	56	Director
Bennett J. Yankowitz	68	Director and Chief Financial Officer

(1)

Resigned from the Company’s board of directors on June 9, 2023; the remaining board members appointed Henrik Keller as his replacement.

There are no family relationships between our director and executive officer.

Background of Executive Officers and Directors

Henrik Rouf—Chief Executive Officer. Mr. Rouf has 30 years of experience in the global finance markets, working as an international financier, merchant banker and fund manager, respectively. Mr. Rouf advises and finances companies in many industries, including (though not limited to) software, semiconductors, blockchain, healthcare, medical devices, biotechnology, restaurant chains, apparel, cannabis, clean tech and advertising. By being located and working in the United States for more than 30 years, Mr. Rouf has a vast network and extensive ties to especially the US, but also to Europe and Asia. Since 2004, he has been the President of PacificWave Partners Inc., a California-based merchant bank.

Tom Glaesner Larsen— Member of our Board of Directors. Prior to joining Nordicus Partners Corporation, Mr. Larsen has for over +30 years worked as an accountant and management consultant, serving in various executive positions as CIO, CFO and/or CEO, at management consulting firms and at renewable energy companies, domestically and internationally. Since 2020, Mr. Larsen has been the CEO of Nordicus Partners A/S, a Denmark-based financial consultancy company. From 2017 until present Mr. Larsen also serves as the CEO of the management consultancy firm, GK Partners ApS, the accounting firm, Firm Management ApS, and the finance consultancy firm, Glaesner Holding ApS.

Christian Hill-Madsen—Chairman of our Board of Directors. Mr. Hill-Madsen joined the Nordicus Partners Corporation Board in January 2023. He has over 25 years of experience working as a headhunter dedicated to the Life Science Industry in the Nordics, mastering the fine art of finding the best candidates for the right job, in all aspects of the healthcare solution program from Headhunting and Recruitment, Salesforce Optimization, Assessment to Organizational Development, etc. He is the CEO of Life Science Power House ApS, a Denmark-based life science advisory and consultancy firm, since 2018. From 2013 to 2018 he was the Founder and CEO of the life science headhunting firm, Hill-Consult.

Mr. Hill-Madsen is one of the few headhunters truly dedicated to the Life Science industry – from the single objective of wanting to be the best at what he does, working with his clients in the full employee life cycle to ensure that his clients always have the right person serving in the right position.

Bennett J. Yankowitz—Chief Financial Officer and Member of our Board of Directors. Mr. Yankowitz has more than 30 years of experience as a corporate attorney with leading law firms, specializing in securities, financial and merger and acquisition transactions, and has a background in financial analysis and real estate investment and development. He is of counsel to the law firm Shumaker Mallory LLP, and was previously of counsel to its predecessor firm Parker Shumaker Mills LLP. He was previously counsel to Kaye Scholer LLP and a partner of Heenan Blaikie and of Stroock & Stroock & Lavan LLP. From 2002 to 2014, he was a director of Proteus Energy Corporation, a California-based private oil and gas production and development company and was its Chief Executive Officer from 2008 to 2014. He is currently chief financial officer and a member of the board of directors of RocketFuel Blockchain, Inc. Mr. Yankowitz earned his B.A. degree in Mathematics from the University of California, Berkeley (1977), his J.D. degree from the University of Southern California (1980), where he was an editor of the Southern California Law Review, and his LL.M. degree (First Class Honours) from the University of Cambridge (1981), where he was an Evan Lewis-Thomas Scholar at Sidney Sussex College. He is a member of the California and New York bars.

Our Board has concluded that Mr. Yankowitz is an appropriate person to represent management on our Board of Directors given his position as our Chief Financial Officer, his professional credentials, and his understanding of corporate regulatory matters and merger and acquisition activities.

Code of Conduct and Ethics

We have adopted a Code of Ethics that allows for us to ensure that our disclosure controls and procedures remain effective. Our Code also defines the standard of conduct expected by our chief executive officer and director. A copy of our Code of Ethics will be furnished without charge to any person upon written request. Requests should be sent to: Chief Executive Officer, Nordicus Partners Corporation, 3651 Lindell Road, Suite D565, Las Vegas, Nevada 89103.

Section 16(a) Beneficial Ownership Reporting Compliance

Section 16(a) of the Securities Exchange Act of 1934 requires our executive officers, directors and persons who beneficially own more than 10% of a registered class of our securities to file reports of ownership and changes in ownership with the SEC. Based solely on a review of copies of such forms submitted to us, we believe that all persons subject to the requirements of Section 16(a) filed such reports on a timely basis in fiscal year 2023.

Corporate Governance and Guidelines

Our Board of Directors has long believed that good corporate governance is important to ensure that we manage our company for the long-term benefit of stockholders. During the past year, our Board of Directors has continued to review our governance practices in light of the Sarbanes-Oxley Act of 2002 and recently revised SEC rules and regulations. We intend to implement internal corporate governance guidelines and practices when we have available resources to implement these guidelines and practices. Such guidelines and practices, when implemented, will be furnished without charge to any person upon written request. Requests should be sent to: Chief Executive Officer, Nordicus Partners Corporation, 3651 Lindell Road, Suite D565, Las Vegas, Nevada 89103.

Committees of the Board of Directors

We currently have no separate audit, compensation, or nominating committees. The entire Board oversees our (i) audits and auditing procedures; (ii) compensation philosophies and objectives, establishment of remuneration levels for our executive officer, and implementation of our incentive programs; and (iii) identification of individuals qualified to become Board members and recommendation to our shareholders of persons to be nominated for election as directors.

Director Independence

We are not currently subject to listing requirements of any national securities exchange or inter-dealer quotation system which has requirements that a majority of the Board be “independent” and, as a result, we are not at this time required to have our Board comprised of a majority of “Independent Directors.” As of the date of this Report, none of our directors are considered to be independent.

Item 11. Executive Compensation

Summary Compensation Table

The following table provides information concerning compensation for services rendered to us in all capacities for the fiscal years ended March 31, 2023 and 2022 by our named executive officer and former named executive officer.

Named Executive Officer	Fiscal Year		Salary ($)		Bonus ($)		Option Awards ($)		All Other Compensation ($)		Total ($)
Bennett J. Yankowitz		2023	$	-	$	-	$	-	$	-	$	-
Chief Financial Officer (1) (3)		2022	$	-	$	-	$	-	$	-	$	-

Henrik Rouf		2023	$	-	$	-	$	-	$	-	$	-
Chief Executive Officer (3)		n/a

Former Named Executive Officer
Michael F. Adams		2023	$	-	$	-	$	-	$	-	$	-
President & Chief Executive Officer (2)		2022	$	-	$	-	$	-	$	12,000	$	12,000

	(1)	Effective October 12, 2021, Mr. Yankowitz was engaged as our chief executive officer on a consultative basis and received no compensation during the fiscal years ended March 31, 2023 and 2022. On November 28, 2022 Mr. Yankowitz was granted a warrant to purchase 250,000 shares of our common stock at $1.00 per share.
	(2)	Mr. Adams, our former chief executive officer, was a non-employee consultant and holder of less than 1.0% of our outstanding common stock as of March 31, 2022.
	(3)	In connection with the Business Combination, on February 23, 2023, the Company appointed Henrik Rouf as our Chief Executive Officer, and Bennett J. Yankowitz resigned as our Chief Executive Officer and was appointed as our Chief Financial Officer.

Employment Agreements and Change in Control Provision

On April 17, 2023, our Board of Directors approved an employment agreement for our chief executive officer, Henrik Rouf, and a consulting agreement for our chief financial officer, Bennett J. Yankowitz.

Mr. Rouf’s employment agreement provides for a base salary of $72,000 per year, commencing April 1, 2023, and has a term of one year.

Mr. Yankowitz’s consulting agreement provides for a base salary of $36,000 per year, commencing April 1, 2023, and has a term of one year.

Outstanding Equity Awards at 2023 Fiscal Year-End

None.

Directors’ Compensation

We did not provide any Board compensation during the fiscal year ended March 31, 2023 and 2022.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table sets forth the beneficial ownership of shares of our common stock, as of June 23, 2023 of (i) each person known by us to beneficially own five percent (5%) or more of such shares; (ii) each of our directors and current executive officers named in the Summary Compensation Table; and (iii) our current executive officers and directors as a group. Except as otherwise indicated, all shares are beneficially owned, and the persons named as owners hold investment and voting power.

Beneficial ownership has been determined in accordance with Rule 13d-3 under the Securities Exchange Act of 1934. Under this rule, certain shares may be deemed to be beneficially owned by more than one person, if, for example, persons share the power to vote or the power to dispose of the shares. In addition, shares are deemed to be beneficially owned by a person if the person has the right to acquire shares, for example, upon exercise of an option or warrant, within 60 days of June 23, 2023. In computing the percentage ownership of any person, the amount of shares is deemed to include the amount of shares beneficially owned by such person, and only such person, by reason of such acquisition rights. As a result, the percentage of outstanding shares of any person as shown in the following table does not necessarily reflect the person’s actual voting power at any particular date.

Name and Address of Beneficial Owner	Amount and Nature of Beneficial Ownership			Percentage of Class (1)
Henrik Rouf 7950 W. Sunset Blvd – Suite 629 Los Angeles, CA 90046 USA		3,278,618	(2)		18.8	%

Bennett Yankowitz 280 S. Beverly Dr., Suite 505 Beverly Hills, CA 90212		250,000	(3)		1.4	%

Christian Hill-Madsen Mesterlodden 3a 2820 Gentofte Denmark		2,500,000	(4)		14.3	%

All officers and directors as a group (3 persons)		6,028,618			34.6	%

Tom Glaesner Larsen Dyrehavevej 3b 2930 Klampenborg Denmark		12,387,804	(5)		71.1	%

	(1)	Based on 17,431,248 shares of common stock as of July 12, 2023 composed of 10,796,248 outstanding shares of our common stock and 6,635,000 shares of our common stock underlying outstanding warrants.
	(2)	Includes (i) 778,618 shares of our common stock owned by Reddington Partners LLC of which Mr. Rouf is the sole beneficial owner and (ii) 2,500,000 shares of our common stock owned by Nordicus Partners A/S, of which Mr. Rouf is a beneficial owner.
	(3)	On November 28, 2022 Mr. Yankowitz was granted a warrant to purchase 250,000 shares of our common stock at $1.00 per share.
	(4)	Consists of 2,500,000 shares of our common stock owned by Nordicus Partners A/S, of which Mr. Hill-Madsen is a beneficial owner.
	(5)	Includes (i) 5,885,000 shares of our common stock underlying a warrant issued to GK Partners ApS on April 1, 2022 exercisable immediately at an exercise price of $1.00 per share and expiring on December 31, 2023 and (ii) 2,500,000 shares of our common stock owned by Nordicus Partners A/S, of which Mr. Larsen and his wife Kiri Lillan Glaesner are beneficial owners. Mr. Larsen resigned as a director on June 9, 2023.

Item 13. Certain Relationships and Related Transactions, and Director Independence

Mr. Yankowitz, our CFO and sole director, is affiliated with legal counsel who provided us with general legal services (the “Affiliate”). We recorded legal fees paid to the Affiliate of $35,415 and $11,453 for the fiscal years ended March 31, 2023 and 2022, respectively. As of March 31, 2023 and 2022 we had a $12,217 and $11,512 payable due to the Affiliate. Mr. Yankowitz does not currently receive cash compensation for acting as our chief executive officer and sole director.

On November 28, 2022, we issued Bennett J. Yankowitz a warrant to purchase 250,000 shares of the Company’s Common Stock. The warrants have an exercise price of $1.00 per share and expire on December 31, 2027.

Mr. Thomas Glasner Larsen is an affiliate of GK Partners and was a member of our board of directors from February 23, 2003 until his voluntary retirement on June 9, 2023. He was also a beneficial owner of a controlling interest in Nordicus A/S until its acquisition by us on February 23, 2023.

On April 11, 2022, effective April 1, 2022, we issued to GK Partners for financial services, a warrant to immediately purchase up to 6,000,000 shares of our common stock at an exercise price of $1.00 per share, which expires on December 31, 2023. On February 14, 2023, GK Partners exercised a portion of its warrant for 115,000 shares. The exercise price was $1.00 per share for total proceeds of $115,000.

Item 14. Principal Accountant Fees and Services

The following is a summary of the fees billed to us by our independent registered public accounting firm, for professional services rendered during the fiscal year ended March 31, 2023 and 2022.

	2023		2022
Audit fees – Fruci & Associates II, PLLC	$	14,000	$	—
Audit fees - Liggett & Webb, P.A.	$	14,055	$	20,000
Audit fees - BF Borgers CPA PC	$	38,500	$	—
Audit related fees	$	—	$	—
Tax fees - Liggett & Webb, P.A	$	1,500	$	2,000
All other fees	$	—	$	—
Total	$	54,055	$	22,000

All of the professional services rendered by principal accountants for the audit of our annual financial statements that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for the last two fiscal years were approved by our board of directors.

Audit Fees

Consist of fees billed for professional services rendered for the audit of our financial statements and review of interim financial statements included in quarterly reports and services that are normally provided by the principal accountants in connection with statutory and regulatory filings or engagements.

Audit Related Fees

Consist of fees billed for assurance and related services that are reasonably related to the performance of the audit or review of our financial statements and are not reported under “Audit Fees”.

Tax Fees

Consist of fees billed for professional services for tax compliance, tax advice and tax planning. These services include preparation of federal and state income tax returns.

All Other Fees

Consist of fees for product and services other than the services reported above.

PART IV

Item 15. Exhibits

The following exhibits are filed as part of this Annual Report.

Exhibit				Filed or Furnished
Number	Exhibit Description	Form	Exhibit	Filing Date	Herewith
3.1	Certificate of Incorporation and Amendments				X
3.2	Certificate of Amendment to Certificate of Incorporation, as filed with the Delaware Secretary of State, dated May 13, 2023	8-K		5/22/23
3.3	Bylaws	14A	D	8/30/2007
10.1	Stock Purchase Agreement dated as of October 12, 2021 between EKIMAS Corporation and Reddington Partners LLC.	8-K		10/18/21
10.2	Indemnification Agreement dated as of October 12, 2021 between EKIMAS Corporation and Bennett J. Yankowitz.	8-K		10/18/21
10.3	Warrant dated as of April 1, 2022 issued by EKIMAS Corporation to GK Partners AsP.	8-K		4/12/2022
10.4	Demand Promissory Note, dated October 14, 2022, made by the Company to the Lender.	8-K		10/17/2022
10.5	Warrant to Purchase Common Stock, dated November 28, 2022, issued to David Volpe	8-K		11/30/2022
10.6	Warrant to Purchase Common Stock, dated November 28, 2022, issued to Bennett J. Yankowitz	8-K		11/30/2022
10.7	Employment Agreement, dated as of April 1, 2023, between EKIMAS Corporation and Henrik Rouf	8-K		5/3/2023
10.8	Consulting Agreement, dated as of April 1, 2023, between EKIMAS Corporation and Bennett J. Yankowitz	8-K		5/3/2023
10.9	Stock Purchase and Sale Agreement, dated as of June 20, 2023, between Nordicus Partners Corporation and GK Partners ApS	8-K		6/20/2023
31.1	Certification of Principal Executive Officer pursuant to Section 302 Sarbanes-Oxley Act of 2002				X
31.2	Certification of Principal Financial and Accounting Officer pursuant to Section 302 Sarbanes-Oxley Act of 2002				X
32.1	Certification of Principal Executive, Financial and Accounting Officer Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002				X
99.1	Press Release dated May 22, 2023	8-K		5/22/23	X
101.INS	Inline XBRL Instance Document.				X
101.SCH	Inline XBRL Taxonomy Extension Schema Document.				X
101.CAL	Inline XBRL Taxonomy Extension Calculation Linkbase Document.				X
101.LAB	Inline XBRL Taxonomy Extension Label Linkbase Document.				X
101.PRE	Inline XBRL Taxonomy Extension Presentation Linkbase Document.				X
101.DEF	Inline XBRL Taxonomy Extension Definition Linkbase Document.				X
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)				X

Item 16. Form 10-K Summary

None.

SIGNATURES

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

Dated: July 14, 2023

Nordicus Partners Corporation

	By:	/s/ Henrik Rouf
		Henrik Rouf
		Chief Executive Officer and Principal Executive

	By:	/s/ Bennett J. Yankowitz
		Bennett J. Yankowitz
		Director, Chief Financial Officer Principal Financial and Accounting Officer

	By:	/s/ Christian Hill-Madsen
		Christian Hill-Madsen
		Director

	By:	/s/ Henrik Keller
		Henrik Keller
		Director

Exhibit 3.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Henrik Rouf, hereby certify that:

1. I have reviewed this Annual Report on Form 10-K of Nordicus Partners Corporation and consolidated subsidiaries (the “Company”);

2. Based on my knowledge, this 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 condensed consolidated financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;

4. The Company’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our 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 Company’s disclosure controls and procedures and presented in this report our 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; and

d. Disclosed in this report any change in the Company’s internal control over financial reporting that occurred during the Company’s fourth fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting; and

5. The Company’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company’s auditors and the audit committee of the Company’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting.

Date: July 14, 2023

/s/ Henrik Rouf
Henrik Rouf
Chief Executive Officer
(Principal Executive Officer)

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO

18 U.S.C. ss 1350, AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Bennett J. Yankowitz, hereby certify that:

1. I have reviewed this Annual Report on Form 10-K of Nordicus Partners Corporation and consolidated subsidiaries (the “Company”);

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting.

Date: July 14, 2023

/s/ Bennett J. Yankowitz
Bennett J. Yankowitz
Chief Financial Officer
(Principal Financial and Accounting Officer)

Exhibit 32

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of Nordicus Partners Corporation, a Delaware corporation (the “Company”), on Form 10-K for the fiscal year ended March 31, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Henrik Rouf, Chief Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(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.

Date: July 14, 2023

/s/ Henrik Rouf
Henrik Rouf
Chief Executive Officer

In connection with the Annual Report of Nordicus Partners Corporation, a Delaware corporation (the “Company”), on Form 10-K for the fiscal year ended March 31, 2023, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Bennett J. Yankowitz, Chief Financial Officer of the Company, hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

(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.

Date: July 14, 2023

/s/ Bennett J. Yankowitz
Bennett J. Yankowitz
Chief Financial Officer

A signed original of this written statement required by §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.

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Jul. 12, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--03-31
Entity File Number	0-28034
Entity Registrant Name	NORDICUS PARTNERS CORPORATION
Entity Central Index Key	0001011060
Entity Tax Identification Number	04-3186647
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	3651 Lindell Road
Entity Address, Address Line Two	Suite D565
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89103
City Area Code	(424)
Local Phone Number	256-8560
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float				$ 646,121
Entity Common Stock, Shares Outstanding			10,796,248
Document Financial Statement Error Correction [Flag]	false
Auditor Firm ID	5525	287
Auditor Name	Fruci & Associates II, PLLC	Liggett & Webb, P.A.
Auditor Location	Spokane, Washington	Boynton Beach, Florida

Balance Sheets - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Current assets:
Cash	$ 7,149	$ 245,945
Receivable	44,481
Prepaids and other current assets	770	3,500
Total current assets	52,400	249,445
Website	2,625
Total Assets	55,025	249,445
Current liabilities:
Accounts payable and accrued expenses	1,354	43,422
Accounts payable – related party	$ 12,127	$ 11,512
Accounts Payable, Related and Nonrelated Party Status [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Related party payable	$ 13,886
Other Liability, Current, Related and Nonrelated Party Status [Extensible Enumeration]	Related Party [Member]	Related Party [Member]
Total current liabilities	$ 27,367	$ 54,934
Total Liabilities	27,367	54,934
Commitments and contingencies
Stockholders’ equity:
Preferred stock; $0.001 par value; 5,000,000 shares authorized; no shares issued and outstanding
Common stock; $0.001 par value; 50,000,000 shares authorized; 8,296,248 shares and 5,682,782 and 8,299,276 shares and 5,681,248 shares issued; respectively	8,296	5,681
Treasury stock, 1,534 shares at cost as of March 31, 2023 and 2022	(30,328)	(30,328)
Additional paid-in capital	42,246,688	33,944,605
Accumulated other comprehensive income	665
Accumulated deficit	(42,197,663)	(33,725,447)
Total stockholders’ equity	27,658	194,511
Total liabilities and stockholders’ equity	$ 55,025	$ 249,445

Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	8,296,248	8,299,276
Common stock, shares outstanding	5,682,782	5,681,248
Treasury stock, shares	1,534	1,534

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Operating expenses:
Stock based compensation– related party	$ 8,141,501
Professional fees	102,286	119,863
Consulting expense	39,602	105,565
General and administrative	196,500	83,743
Total operating expenses	8,479,889	309,171
Loss from operations	(8,479,889)	(309,171)
Other income (expense):
Interest expense	(382)
Other income	8,055	22,000
Total other income	7,673	22,000
Loss from operations before provision for income taxes	(8,472,216)	(287,171)
Provision for income taxes
Net loss	(8,472,216)	(287,171)
Other comprehensive income:
Foreign currency translation adjustment	665
Comprehensive Loss	$ (8,471,551)	$ (287,171)
Net loss per common share – basic and diluted	$ (1.43)	$ (0.30)
Weighted average shared – basic and diluted	5,938,851	944,651

Statement of Changes in Stockholders' Deficit - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Mar. 31, 2021	$ 567	$ 33,549,719	$ (33,438,276)	$ (30,328)		$ 81,682
Beginning balance, shares at Mar. 31, 2021	566,773
Common stock issued to an investor	$ 5,114	394,886				400,000
Common stock issued to an investor, shares	5,114,475
Net loss			(287,171)			(287,171)
Balance at Mar. 31, 2022	$ 5,681	33,944,605	(33,725,447)	(30,328)		194,511
Ending balance, shares at Mar. 31, 2022	5,681,248
Net loss			(8,472,216)		665	(8,471,551)
Stock-based compensation - fair value of warrants– related party		8,141,501				8,141,501
Shares issued for acquisition	$ 2,500	45,697				48,197
Shares issued for acquisition, shares	2,500,000
Exercise of warrants	$ 115	114,885				115,000
Exercise of warrants, shares	115,000
Balance at Mar. 31, 2023	$ 8,296	$ 42,246,688	$ (42,197,663)	$ (30,328)	$ 665	$ 27,658
Ending balance, shares at Mar. 31, 2023	8,296,248

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net loss	$ (8,472,216)	$ (287,171)
Adjustments to reconcile net loss to net cash flows used in operating activities
Stock-based compensation – related party	8,141,501
Changes in assets and liabilities:
Prepaid expenses	3,500	(3,500)
Accounts payable and accrued expenses	(41,132)	8,290
Net cash used in operating activities	(368,347)	(282,381)
Cash flows from financing activities:
Proceeds from note payable	40,000
Repayment of note payable	(40,000)
Proceeds from exercise of warrants	115,000
Cash advance - related party	13,886
Issuance of common stock to an investor		400,000
Net cash (used) provided by financing activities	128,886	400,000
Net change in cash	(239,461)	117,619
Effect of exchange rate on cash	665
Cash at beginning of year	245,945	128,326
Cash at end of year	7,149	245,945
Supplemental disclosure of cash flow information:
Income taxes paid
Interest paid

ORGANIZATION AND DESCRIPTION OF BUSINESS

12 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

On February 23, 2023, the Company and Nordicus Partners A/S, a Danish stock corporation, consummated the transactions contemplated by that certain Contribution Agreement (the “Contribution Agreement”) by and among the Company, Nordicus, GK Partners, Henrik Rouf and Life Science Power House ApS (“LSPH”). GK Partners, Rouf and LSPH are collectively referred to herein as the “Sellers”, and each individually as a “Seller”). Pursuant to the Contribution Agreement the Sellers contributed, transferred, assigned and conveyed to the Company all right, title and interest in and to one hundred percent (100%) of the issued and outstanding capital stock of Nordicus for an aggregate of 2,500,000 shares of the Company’s common stock, par value $0.001 per share. As a result of the Business Combination, Nordicus became a 100% wholly owned subsidiary of the Company.

On May 17, 2023, the Company changed its name to Nordicus Partners Corporation and its ticker symbol to NORD.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Use of Estimates

Concentration of Credit Risk

Cash Equivalents

Principles of Consolidation

Translation Adjustment

Comprehensive Income

Stock-based Compensation

Fair Value of Financial Instruments

Level 1:	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2:	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3:	Pricing inputs that are generally unobservable inputs and not corroborated by market data.

Net Income (Loss) Per Common Share

Income Taxes

Recently Issued Accounting Pronouncements

GOING CONCERN

12 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN

NOTE 3 - GOING CONCERN

RELATED PARTY TRANSACTIONS

12 Months Ended

Mar. 31, 2023

RELATED PARTY TRANSACTIONS

NOTE 4 - RELATED PARTY TRANSACTIONS

As of March 31, 2023, the Company has a receivable of $44,481, due from GK Partners. The amount was received in Q1 FY 2024.

NOTE PAYABLE

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

NOTE PAYABLE

NOTE 5 – NOTE PAYABLE

PREFERRED STOCK

12 Months Ended

Mar. 31, 2023

Equity [Abstract]

PREFERRED STOCK

NOTE 6 - PREFERRED STOCK

Preferred Stock

COMMON STOCK TRANSACTIONS

12 Months Ended

Mar. 31, 2023

Common Stock Transactions

COMMON STOCK TRANSACTIONS

NOTE 7 - COMMON STOCK TRANSACTIONS

On October 12, 2021, we entered into a Stock Purchase Agreement (the “SPA”) with Reddington Partners LLC, a California limited liability company (“Reddington”) providing for the purchase of a total of 5,114,475 of our common stock, on a post-split basis, for total cash consideration of $400,000. Reddington purchased in two tranches on October 12, 2021 and March 15, 2022. Pursuant to the SPA, each of four stockholders (the “Principal Stockholders”) entered into a Voting Agreement with Reddington (the “Voting Agreements”).

On February 14, 2023, GK Partners exercised a portion of its warrant for 115,000 shares. The exercise price was $1.00 per share for total proceeds of $115,000.

WARRANTS

12 Months Ended

Mar. 31, 2023

Warrants

WARRANTS

NOTE 8 - WARRANTS

SCHEDULE OF WARRANT ACTIVITIES

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Intrinsic Value
Outstanding, March 31, 2022		—			—		—		-
Issued		6,750,000		$	1.00		2.13
Cancelled		—		$	—		—
Exercised		(115,000	)	$	—		—
Outstanding, March 31, 2023		6,635,000		$	1.00		1.21	$	—

INCOME TAX

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAX

NOTE 9 – INCOME TAX

Reconciliation between our effective tax rate and the United States statutory rate is as follows:

	For the Year Ended March 31, 2023			For the Year Ended March 31, 2022
Expected federal tax rate		21.0	%		21.0	%
State income taxes, net of federal tax benefit		6.3	%		6.3	%
Non-deductible expenses		0.0	%		0.0	%
Effect of net operating loss true-up		0.0	%		0.0	%
Utilization of net operating losses		(27.3	)%		(27.3	)%
Effective tax rate		0.0	%		0.0	%

Significant components of our deferred tax assets and deferred tax liabilities consist of the following:

(in thousands)	March 31, 2023			March 31, 2022
Deferred Tax Assets:
Net operating loss carryforwards	$	2,313,000		$	3,183
Valuation allowance		(2,313,000	)		(3,183	)
Net deferred tax assets	$	—		$	—

SUBSEQUENT EVENTS

12 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 10 - SUBSEQUENT EVENTS

On June 9, 2023, Tom Glaesner Larsen resigned from the Company’s board of directors, and the remaining board members appointed Henrik Keller as his replacement.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Use of Estimates

Use of Estimates

Concentration of Credit Risk

Concentration of Credit Risk

Cash Equivalents

Cash Equivalents

Principles of Consolidation

Principles of Consolidation

Translation Adjustment

Translation Adjustment

Comprehensive Income

Comprehensive Income

Stock-based Compensation

Stock-based Compensation

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Level 1:	Quoted market prices available in active markets for identical assets or liabilities as of the reporting date.
Level 2:	Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date.
Level 3:	Pricing inputs that are generally unobservable inputs and not corroborated by market data.

Net Income (Loss) Per Common Share

Net Income (Loss) Per Common Share

Income Taxes

Income Taxes

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

WARRANTS (Tables)

12 Months Ended

Mar. 31, 2023

Warrants

SCHEDULE OF WARRANT ACTIVITIES

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contract Term		Intrinsic Value
Outstanding, March 31, 2022		—			—		—		-
Issued		6,750,000		$	1.00		2.13
Cancelled		—		$	—		—
Exercised		(115,000	)	$	—		—
Outstanding, March 31, 2023		6,635,000		$	1.00		1.21	$	—

INCOME TAX (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF RECONCILIATION OF EFFECTIVE TAX RATE

Reconciliation between our effective tax rate and the United States statutory rate is as follows:

	For the Year Ended March 31, 2023			For the Year Ended March 31, 2022
Expected federal tax rate		21.0	%		21.0	%
State income taxes, net of federal tax benefit		6.3	%		6.3	%
Non-deductible expenses		0.0	%		0.0	%
Effect of net operating loss true-up		0.0	%		0.0	%
Utilization of net operating losses		(27.3	)%		(27.3	)%
Effective tax rate		0.0	%		0.0	%

SCHEDULE OF SIGNIFICANT COMPONENTS OF DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES

Significant components of our deferred tax assets and deferred tax liabilities consist of the following:

(in thousands)	March 31, 2023			March 31, 2022
Deferred Tax Assets:
Net operating loss carryforwards	$	2,313,000		$	3,183
Valuation allowance		(2,313,000	)		(3,183	)
Net deferred tax assets	$	—		$	—

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($)	Feb. 23, 2023	Mar. 15, 2022	Mar. 11, 2022	Oct. 12, 2021	Jan. 31, 2020	Mar. 31, 2023	Mar. 31, 2022
Common stock, par value						$ 0.001	$ 0.001
Contribution Agreement [Member]
Stock issued during period, shares, new issues	2,500,000
Percentage of outstanding common stock	100.00%
Common stock, par value	$ 0.001
Contribution Agreement [Member] \| Nordicus Partners A/S [Member]
Subsidiary, ownership percentage	100.00%
Reddington Partners LLC [Member] \| Stock Purchase Agreement [Member]
Stock issued during period, shares, new issues				5,114,475
Percentage of outstanding common stock				90.00%
Total cash consideration				$ 400,000
Reverse stock split			1-for 50 reverse stock split
Reddington Partners LLC [Member] \| Stock Purchase Agreement [Member] \| First Closing [Member]
Stock issued during period, shares, new issues			422,725
Reddington Partners LLC [Member] \| Stock Purchase Agreement [Member] \| Second Closing [Member]
Stock issued during period, shares, new issues		4,691,750
Asset Purchase Agreement [Member]
Purchase price of asset					$ 7,250,000

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accounting Policies [Abstract]
Cash equivalents	$ 0	$ 0
Antidilutive securities	6,635,000	0

GOING CONCERN (Details Narrative) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 42,197,663	$ 33,725,447

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)				12 Months Ended
	Jun. 20, 2023	Feb. 23, 2023	Feb. 14, 2023	Mar. 31, 2023	Mar. 31, 2022	Nov. 28, 2022	Apr. 11, 2022
Related Party Transaction [Line Items]
Consulting fees				$ 102,286	$ 119,863
Due to related party				13,886
Receivable				44,481
GK Partners [Member]
Related Party Transaction [Line Items]
Total proceeds			$ 115,000
Stock Issued During Period, Shares, New Issues		2,500,000
GK Partners [Member] \| Subsequent Event [Member] \| Restricted Stock [Member]
Related Party Transaction [Line Items]
Shares issued	2,500,000
Myson Inc [Member] \| Subsequent Event [Member] \| Restricted Stock [Member]
Related Party Transaction [Line Items]
Shares issued	5,000,000
Common Stock [Member] \| GK Partners [Member]
Related Party Transaction [Line Items]
Warrant to purchase shares							6,000,000
Exercise price per share							$ 1.00
Warrant [Member]
Related Party Transaction [Line Items]
Warrant to purchase shares			115,000
Exercise price per share			$ 1.00			$ 1.00
Warrant [Member] \| GK Partners [Member]
Related Party Transaction [Line Items]
Warrant to purchase shares			115,000				6,000,000
Exercise price per share			$ 1.00				$ 1.00
Mr.Michael Adams [Member]
Related Party Transaction [Line Items]
Consulting fees				0	12,000
Reimburse for office expense and car allowance				$ 0	2,000
Mr.Michael Adams [Member] \| Maximum [Member]
Related Party Transaction [Line Items]
Percentage of outstanding common stock				1.00%
Mr Bennett Yankowitz [Member]
Related Party Transaction [Line Items]
Legal fees				$ 35,415	11,453
Mr Bennett Yankowitz [Member] \| Related Party [Member]
Related Party Transaction [Line Items]
Due to related party				12,217	$ 11,512
Mr Yankowitz [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Warrant to purchase shares						250,000
Exercise price per share						$ 1.00
GK Partners [Member]
Related Party Transaction [Line Items]
Receivable				$ 44,481

NOTE PAYABLE (Details Narrative) - USD ($)			12 Months Ended
NOTE PAYABLE (Details Narrative) - USD ($)	Feb. 16, 2023	Oct. 14, 2022	Mar. 31, 2023	Mar. 31, 2022
Repayments of notes			$ 40,000
Interest paid
GK Partners [Member]
Notes payable		$ 40,000
Notes interest rate		3.00%
Debt maturity date		Jun. 30, 2023
Repayments of notes	$ 40,000
Interest paid	$ 382

PREFERRED STOCK (Details Narrative) - $ / shares	12 Months Ended
PREFERRED STOCK (Details Narrative) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
Class of Stock [Line Items]
Preferred stock shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares issued and redeemed	500,000
Preferred stock, shares outstanding	0	0
Preferred stock, shares issued	0	0
Series A Junior Participating Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock shares authorized	500,000
Preferred stock, shares outstanding	0	0
Preferred stock, shares issued	0	0

COMMON STOCK TRANSACTIONS (Details Narrative) - USD ($)							12 Months Ended
COMMON STOCK TRANSACTIONS (Details Narrative) - USD ($)	Feb. 23, 2023	Feb. 14, 2023	Sep. 22, 2022	Mar. 15, 2022	Mar. 11, 2022	Oct. 12, 2021	Mar. 31, 2023	Mar. 31, 2022	Nov. 28, 2022	Apr. 11, 2022
Proceeds from issuance of stock								$ 400,000
Proceeds from related party							$ 13,886
Cash distribution			$ 141,000
Price per share			$ 0.25
Warrant [Member]
Warrant to purchase shares		115,000
Exercise price per share		$ 1.00							$ 1.00
Reddington Partners LLC [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Shares issued						21,136,250
Reddington Partners LLC [Member] \| Stock Purchase Agreement [Member]
Shares issued						5,114,475
Total proceeds						$ 400,000
Percentage of outstanding common stock						90.00%
Reverse stock split					1-for 50 reverse stock split
Reddington Partners LLC [Member] \| Stock Purchase Agreement [Member] \| First Closing [Member]
Shares issued					422,725
Proceeds from issuance of stock						$ 200,000
Accrued and unpaid liabilities						100,000
Working capital						100,000
Escrow deposit						200,000
Reddington Partners LLC [Member] \| Stock Purchase Agreement [Member] \| Second Closing [Member]
Shares issued				4,691,750
Accrued and unpaid liabilities						100,000
Proceeds from related party						$ 200,000
Reddington Partners LLC [Member] \| Voting Agreement [Member]
Shares issued						4,434,240
Investment Owned, Balance, Shares						25,570,490
Percentage of outstanding common stock						51.80%
GK Partners [Member]
Shares issued	2,500,000
Total proceeds		$ 115,000
GK Partners [Member] \| Warrant [Member]
Warrant to purchase shares		115,000								6,000,000
Exercise price per share		$ 1.00								$ 1.00

SCHEDULE OF WARRANT ACTIVITIES (Details) - Warrant [Member]	12 Months Ended
	Mar. 31, 2023 $ / shares shares
Number of Warrants, Beginning balance \| shares
Weighted Average Exercise Price, Beginning balance \| $ / shares
Intrinsic Value, Beginning balance \| $ / shares
Number of Warrants, Issued \| shares	6,750,000
Weighted Average Exercise Issued \| $ / shares	$ 1.00
Weighted Average Remaining Contractual term,Issued	2 years 1 month 17 days
Warrants Outstanding, Cancelled \| shares
Number of Warrants, Exercised \| shares	(115,000)
Number of Warrants, Ending balance \| shares	6,635,000
Weighted Average Exercise Price, Ending balance \| $ / shares	$ 1.00
Weighted Average Remaining Contractual term,Outstanding	1 year 2 months 15 days
Intrinsic Value, Ending balances \| $ / shares

WARRANTS (Details Narrative)			12 Months Ended
WARRANTS (Details Narrative)	Nov. 28, 2022 $ / shares shares	Apr. 11, 2022 $ / shares shares	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Feb. 14, 2023 $ / shares shares	Sep. 22, 2022 $ / shares
Price per share						$ 0.25
Stock based compensation \| $			$ 8,141,501
Total stock based compensation \| $			825,000
Measurement Input, Exercise Price [Member]
Warrant measurement input	1.00
Measurement Input, Share Price [Member]
Price per share	$ 1.12
Measurement Input, Expected Term [Member]
Expected term	5 years
Measurement Input, Price Volatility [Member]
Warrant measurement input	206
Measurement Input, Expected Dividend Rate [Member]
Warrant measurement input	0.0
Measurement Input, Risk Free Interest Rate [Member]
Warrant measurement input	3.88
GK Partners [Member]
Stock based compensation \| $			$ 7,316,971
GK Partners [Member] \| Measurement Input, Exercise Price [Member]
Warrant measurement input		1.00
GK Partners [Member] \| Measurement Input, Share Price [Member]
Price per share		$ 1.22
GK Partners [Member] \| Measurement Input, Expected Term [Member]
Expected term		1 year 9 months
GK Partners [Member] \| Measurement Input, Price Volatility [Member]
Warrant measurement input		699.79
GK Partners [Member] \| Measurement Input, Expected Dividend Rate [Member]
Warrant measurement input		0.0
GK Partners [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Warrant measurement input		2.44
Warrant [Member]
Warrant to purchase shares \| shares					115,000
Exercise price per share	$ 1.00				$ 1.00
Exercise price per share	Dec. 31, 2027	Dec. 31, 2023
Warrant [Member] \| David Volpe [Member]
Warrant to purchase shares \| shares	500,000
Warrant [Member] \| Bennett J. Yankowitz [Member]
Warrant to purchase shares \| shares	250,000
Warrant [Member] \| GK Partners [Member]
Warrant to purchase shares \| shares		6,000,000			115,000
Exercise price per share		$ 1.00			$ 1.00

SCHEDULE OF RECONCILIATION OF EFFECTIVE TAX RATE (Details)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Expected federal tax rate	21.00%	21.00%
State income taxes, net of federal tax benefit	6.30%	6.30%
Non-deductible expenses	0.00%	0.00%
Effect of net operating loss true-up	0.00%	0.00%
Utilization of net operating losses	(27.30%)	(27.30%)
Effective tax rate	0.00%	0.00%

SCHEDULE OF SIGNIFICANT COMPONENTS OF DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Deferred Tax Assets:
Net operating loss carryforwards	$ 2,313,000	$ 3,183
Valuation allowance	(2,313,000)	(3,183)
Net deferred tax assets

INCOME TAX (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
INCOME TAX (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Operating Loss Carryforwards [Line Items]
Expected federal tax rate	21.00%	21.00%
Tax benefit
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Operating Loss Carryforwards	$ 35,057

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - Restricted Stock [Member]	Jun. 20, 2023 shares
Myson Inc [Member]
Subsequent Event [Line Items]
Shares issued	5,000,000
GK Partners [Member]
Subsequent Event [Line Items]
Shares issued	2,500,000

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