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

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☒

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

For the quarterly period ended September 30, 2024

☐

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

For the transition period from to

Commission File No. 001-11737

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.)

280 South Beverly Dr., Suite 505, Beverly Hills, CA		90212
(Address of principal executive offices)		(Zip Code)

Issuer’s telephone number (310) 666-0750

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

None		None
Title of each class		Name of each exchange on which registered

Securities registered pursuant to Section 12(g) of the Act: Common Stock, $0.001 par value per share

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 pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the 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. ☐

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

As of November 14, 2024, there were 17,188,166 shares of the registrant’s Common Stock outstanding.

NORDICUS PARTNERS CORPORATION

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION	3
Item 1	Unaudited Consolidated Financial Statements	3
	Consolidated Balance Sheets at September 30, 2024 (unaudited) and March 31, 2024	3
	Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 (unaudited)	4
	Consolidated Statements of Changes in Stockholders’ Equity for the three and six months ended September 30, 2024 and 2023 (unaudited)	5
	Consolidated Statements of Cash Flows for the six months ended September 2024 and 2023 (unaudited)	6
	Notes to Consolidated Financial Statements (unaudited)	7
Item 2	Management’s Discussion and Analysis of Financial Condition and Results of Operations	17
Item 3	Quantitative and Qualitative Disclosures About Market Risk	21
Item 4	Controls and Procedures	21
PART II	OTHER INFORMATION	22
Item 1.	Legal Proceedings	22
Item 1A.	Risk Factors	22
Item 2	Unregistered Sales of Equity Securities and Use of Proceeds	22
Item 3	Defaults Upon Senior Securities	22
Item 4	Mine Safety Disclosures	22
Item 5	Other Information	22
Item 6	Exhibits	22
	Signatures	23

PART I - FINANCIAL INFORMATION

Item 1. Unaudited Financial Statements

NORDICUS PARTNERS CORPORATION AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

	September 30, 2024			March 31, 2024
	(unaudited)
ASSETS
Current assets:
Cash	$	46,131		$	49,933
Prepaid expenses and other current assets		72,338			—
Total current assets		118,469			49,933
Website		10,014			7,640
Intangible assets		223,316			—
Other assets		41,424			—
Goodwill		18,641,985			—
Investment in Mag Mile Capital, Inc.		1,750,000			1,750,000
Total Assets	$	20,785,208		$	1,807,573

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable and accrued expenses	$	145,368		$	5,019
Deferred revenue		7,500			7,500
Related party payable		—			13,886
Total current liabilities		152,868			26,405
Total Liabilities		152,868			26,405

Commitments and contingencies		-			-

Stockholders’ equity:
Common stock; $0.001 par value; 50,000,000 shares authorized; 4,965,626 and 1,110,226 shares issued and outstanding at September 30, 2024 and March 31, 2024, respectively		4,966			1,110
Treasury stock; 154 shares at cost		(30,328	)		(30,328	)
Additional paid-in capital		64,333,434			45,696,761
Accumulated other comprehensive loss		13,693			(2,848	)
Accumulated deficit		(44,642,481	)		(43,883,527	)
Total equity attributed to the parent		19,679,284			1,781,168
Non-controlling interest		953,056			—
Total stockholders’ equity		20,632,340			1,781,168
Total Liabilities and Stockholders’ Equity	$	20,785,208		$	1,807,573

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

NORDICUS PARTNERS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)


	Three Months Ended						Six Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Revenue	$	2,500		$	—		$	2,500		$	—

Operating expenses:
Officer compensation		49,104			30,593			98,546			57,593
Professional fees		46,428			56,868			72,210			76,793
Consulting expense		—			—			150,000			—
General and administrative		71,154			9,420			104,099			14,084
Research and development		343,209			—			343,209			—
Total operating expenses		509,895			96,881			768,064			148,470

Loss from operations		(507,395	)		(96,881	)		(765,564	)		(148,470	)

Other (expense) income:
Interest expense		(1	)		—			(1	)		—
Other (expense) income		—			(1,909	)		—			9,384
Total other (expense) income		(1	)		(1,909	)		(1	)		9,384

Loss from operations before provision for income taxes		(507,396	)		(98,790	)		(765,565	)		(139,086	)
Provision for income tax		—			—			—			—
Net loss		(507,396	)		(98,790	)		(765,565	)		(139,086	)
Net loss attributable to noncontrolling interests		(6,611	)		—			(6,611	)		—
Net loss attributable to Nordicus Partners Corporation		(500,785	)		(98,790	)		(758,954	)		(139,086	)

Other comprehensive income (loss):
Foreign currency translation adjustment		16,771			(3,104	)		16,541			(3,165	)
Comprehensive loss	$	(484,014	)	$	(101,894	)	$	(742,413	)	$	(142,251	)

Net loss per shares - basic and diluted attributable to Nordicus Partners Corporation	$	(0.10	)	$	(0.09	)	$	(0.19	)	$	(0.14	)

Weighted average common shares outstanding - basic and diluted		4,960,079			1,084,665			4,050,313			972,283

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

NORDICUS PARTNERS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2024 AND 2023

(Unaudited)

																					-
	Common Stock				Preferred Stock, Series A Junior				Preferred Stock, Undesignated				Additional Paid in		Accumulated			Treasury				Other Comprehensive			Total Equity Attributed			Non- Controlling			Total Stockholders’
	Shares		Amount		Shares		Amount		Shares		Amount		Capital		Deficit			Stock				Loss			to Parent			Interest			Equity
Balance at March 31, 2024		1,110,226	$	1,110		—	$	—		—	$	—	$	45,696,761	$	(43,883,527	)	$	(30,328	)	-	$	(2,848	)	$	1,781,168		$	—		$	1,781,168
Shares issued in business combination		3,800,000		3,800		—		—		—		—		18,046,200		—			—		-		—			18,050,000			—			18,050,000
Exercise of warrants		6,000		6		—		—		—		—		59,994		—			—		-		—			60,000			—			60,000
Shares issued for services		30,000		30		—		—		—		—		138,949		—			—		-		—			138,979			—			138,979
Forgiveness of debt - related party		—		—		—		—		—		—		13,886		—			—		-		—			13,886			—			13,886
Recognition of non-controlling interest		—		—		—		—		—		—		—		—			—		-		—			—			950,000			950,000
Net loss		—		—		—		—		—		—		—		(258,169	)		—				—			(258,169	)		—			(258,169	)
Foreign currency translation adjustment		—		—		—		—		—		—		—		—			—		-		(230	)		(230	)		—			(230	)
Balance at June 30, 2024		4,946,226		4,946		—		—		—		—		63,955,790		(44,141,696	)		(30,328	)	-		(3,078	)		19,785,634			950,000			20,735,634
Exercise of warrants		19,400		19		—		—		—		—		193,981		—			—		-		—			194,000			—			194,000
Orocidin issuance of common stock in capital raise		—		—		—		—		—		—		183,663		—			—		-		—			183,663			9,667			193,330
Net loss		—		—		—		—		—		—		—		(500,785	)		—		-		—			(500,785	)		(6,611	)		(507,396	)
Foreign currency translation adjustment		—		—		—		—		—		—		—		—			—		-		16,771			16,771			—			16,771
Balance at September 30, 2024		4,965,626	$	4,966		—	$	—		—	$	—	$	64,333,434	$	(44,642,481	)	$	(30,328	)	-	$	13,693		$	19,679,284		$	953,056		$	20,632,340


	Common Stock				Preferred Stock, Series A Junior				Preferred Stock, Undesignated				Additional Paid in		Accumulated			Treasury			Common Stock to		Other Comprehensive			Total Stockholders’
	Shares		Amount		Shares		Amount		Shares		Amount		Capital		Deficit			Stock			Be Issued		Income			Equity
Balance at March 31, 2023		829,626	$	830		—	$	—		—	$	—	$	42,254,155		(42,197,663	)		(30,328	)		—		665		$	27,658
Shares issued for stock investment		250,000		250		—		—		—		—		1,749,750		—			—			—		—			1,750,000
Exercise of warrants		—		—		—		—		—		—		—		—			—			25,000		—			25,000
Net loss		—		—		—		—		—		—		—		(40,296	)		—			—		—			(40,296	)
Foreign currency translation adjustment		—		—		—		—		—		—		—		—			—			—		(61	)		(61	)
Balance at June 30, 2023		1,079,626		1,080		—		—		—		—		44,003,905		(42,237,959	)		(30,328	)		25,000		604			1,762,301
Balance		1,079,626		1,080		—		—		—		—		44,003,905		(42,237,959	)		(30,328	)		25,000		604			1,762,301
Exercise of warrants		8,000		8		—		—		—		—		79,992		—			—			—		—			80,000
Net loss		—		—		—		—		—		—		—		(98,790	)		—			—		—			(98,790	)
Foreign currency translation adjustment		—		—		—		—		—		—		—		—			—			—		(3,104	)		(3,104	)
Balance at September 30, 2023		1,087,626	$	1,088		—	$	—		—	$	—	$	44,083,897	$	(42,336,749	)	$	(30,328	)	$	25,000	$	(2,500	)	$	1,740,407
Balance		1,087,626	$	1,088		—	$	—		—	$	—	$	44,083,897	$	(42,336,749	)	$	(30,328	)	$	25,000	$	(2,500	)	$	1,740,407

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

NORDICUS PARTNERS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)


	For the Six Months Ended
	September 30
	2024			2023
Cash flows from operating activities:
Net loss	$	(765,565	)	$	(139,086	)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for services		138,979			—
Derecognition of deferred revenue upon consolidation of Orocidin A/S		(7,500	)		—
Changes in assets and liabilities:
Prepaid expenses and other current assets		(42,431	)		(1,932	)
Receivables		—			44,481
Other assets		(41,424	)		—
Accounts payable and accrued expenses		110,570			8,528
Deferred revenue		7,500			—
Related party payable		—			(12,127	)
Net cash used in operating activities		(599,871	)		(100,136	)

Cash flows from investing activities:
Cash paid for website costs		(2,374	)		—
Cash acquired in acquisition		134,572			—
Net cash used in investing activities		132,198			—

Cash flows from financing activities:
Advance from related party		—			1,924
Proceeds from Orocidin issuance of common stock in capital raise		193,330			—
Proceeds from exercise of warrants		254,000			105,000
Net cash provided by financing activities		447,330			106,924

Net change in cash		(20,343	)		6,788
Effect of exchange rate on cash		16,541			(3,165	)
Cash at beginning of period		49,933			7,149
Cash at end of period	$	46,131		$	10,772

Supplemental disclosures of non-cash information:
Common stock issued for shares of Myson, Inc.	$	—		$	1,750,000
Common stock issued for the acquisition of Orocidin A/S	$	18,050,000		$	—
Forgiveness of debt - related party	$	13,886		$	—

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

NORDICUS PARTNERS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2024

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

Nordicus Partners Corporation (the “Company” or “Nordicus”) was founded in 1993 as a subsidiary of PolyMedica Corporation. On January 31, 2020 (the “Closing Date”), 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 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 from 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 511,448 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 42,273 shares of our common stock. As set forth in the SPA, Reddington then purchased from us on March 15, 2022, an additional 469,175 shares of our common stock, on a post-split basis (the “Second Closing”). After the issuance thereof Reddington owned 511,448 shares of our common stock, or approximately 90% of our total shares of common stock outstanding.

On February 23, 2023, the Company and Managementselskabet af 12.08.2020 A/S (formerly 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 250,000 shares of the Company’s common stock, par value $0.001 per share. As a result of this transaction, Nordicus became a 100% wholly owned subsidiary of the Company.

On February 23, 2023, Tom Glaesner Larsen and Christian Hill Madsen were appointed directors of the Company. Mr. Hill-Madsen will continue as Chairman of the Board of Orocidin A/S, of which the Company recently acquired 95% of the outstanding shares in exchange for shares of the Company.

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

On June 1, 2023, the Company acquired a 4.99% interest in Mag Mile Capital, Inc., a full-service commercial real estate mortgage banking firm headquartered in Chicago with offices in the states of New York, Massachusetts, Connecticut, Florida, Texas and Nevada. Mag Mile Capital is a national platform comprised of capital markets specialists with extensive experience in real estate bridge financing, mezzanine and permanent debt placement and equity arrangements throughout the full capital stack and across all major real estate asset classes nationwide, including hotels, multifamily, office, retail, industrial, healthcare, self-storage and special purpose properties, offering access to structured debt and equity advisory solutions and placement for real estate investors, developers, and entrepreneurs,

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 November 29, 2023, the Company’s subsidiary, Nordicus Partners A/S, changed its name to Managementselskabet af 12.08.2020 A/S.

On May 13, 2024, the Company and certain shareholders of Orocidin A/S (the “Orocidin Sellers”), a Danish stock corporation (“Orocidin”) entered into a Stock Purchase and Sale Agreement (the “Agreement”), under which the Orocidin Sellers sold to the Company 525,597 shares of the capital stock of Orocidin (the “Orocidin Shares”), representing 95.0% of Orocidin’s outstanding shares of capital stock. In exchange, the Company issued 3,800,000 restricted shares of its common stock (the “Company Shares”) to the Orocidin Sellers. The transaction was consummated on May 13, 2024. Orocidin A/S, is a clinical-stage biopharmaceutical company which is advancing the next generation of periodontitis therapies.

On June 3, 2024, Mr. Christian Hill-Madsen resigned as a director of the Company and Peter Severin was appointed as his replacement.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”), and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) and reflect all adjustments, consisting of normal recurring adjustments, which management believes are necessary to fairly present the financial position, results of operations and cash flows of the Company as of and for the six months ending September 30, 2024, and not necessarily indicative of the results to be expected for the full year ending March 31, 2025. These unaudited financial statements should be read in conjunction with the financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2024.

Reverse Stock Split

On November 8, 2024, the Company effectuated a 1-for-10 reverse stock split of its issued and outstanding common stock, rounding up to account for any fractional shares (the “Reverse Stock Split”). The Reverse Stock Split had no effect on the Company’s authorized shares of common stock or preferred stock and the par value will remain unchanged at $0.001, respectively. All common stock share, warrant and per share amounts (except our authorized but unissued shares) have been retroactively adjusted in these consolidated financial statements and related disclosures.

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 useful lives of long-lived assets and recoverability of those assets, and impairment in fair value of goodwill.

Concentration of Credit Risk

We maintain our cash in bank deposit accounts, the balances of which at times may exceed federally insured limits. We also maintain cash in foreign bank accounts that are not federally insured. 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 and Cash Equivalents

Cash amounts include cash on hand and cash on deposit with banks. 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 as of September 30, 2024 and March 31, 2024.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, Managementselskabet af 12.08.2020 A/S and Orocidin A/S. All significant intercompany transactions have been eliminated in consolidation.

Translation Adjustment

The accounts of the Company’s subsidiaries are maintained in Danish krone. According to Accounting Standards Codification (“ASC”) 830 Foreign Currency Matters, all assets and liabilities were translated at the current exchange rate at respective balance sheets dates, stockholders’ equity are translated at the historical rates and statement of operations items are translated at the average exchange rate for the period. The resulting translation adjustments are reported under other comprehensive loss 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 statements of operations.

Comprehensive Loss

The Company uses the Statement of Financial Accounting Standards (“SFAS”) 130 “Reporting Comprehensive Income” (ASC Topic 220). Comprehensive income is comprised of net income and all changes to the consolidated 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.

Research and Development Costs

Research and development expense consists primarily of costs associated with Orocidin’s ongoing research and development efforts. Research and development costs are expensed as incurred. Advance payments for goods and services that will be used in future research and development activities are expensed when the activity has been performed or when the goods have been received.

Stock-based Compensation

The Company accounts for stock-based compensation using the provisions of ASC 718, Stock-Based Compensation, which requires the recognition of the fair value of stock-based compensation. Stock-based compensation is estimated at the grant date based on the fair value of the awards. The Company accounts for forfeitures of grants as they occur. Compensation cost for awards is recognized using the straight-line method over the vesting period. Stock-based compensation is included in general and administrative and research and development expense in the consolidated statements of operations and comprehensive loss. Refer to Note 8 for details on the stock incentive plan established during the three months ended June 30, 2024. Through the six months ended September 30, 2024, the Company has not granted any awards qualifying as stock-based compensation under this plan. During the six months ended September 30, 2024, the Company issued 30,000 shares of common stock to a third party for consulting services unrelated to the stock incentive plan.

Fair Value of Financial Instruments

The Company follows paragraph 825-10-50-10 of the FASB ASC for disclosures about fair value of its financial instruments and paragraph 820-10-35-37 of the FASB ASC (“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 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.

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.

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. As of September 30, 2024 and 2023, there were 607,500 and 653,000 potentially dilutive shares of common stock from warrants, respectively. Diluted shares are not presented when the effect of the computations is anti-dilutive due to the losses incurred. Accordingly, there is no difference in the amounts presented for basic and diluted loss per share.

Goodwill

The Company accounts for business combinations under the acquisition method of accounting in accordance with Accounting Standards Codification (“ASC”) 805, Business Combinations, where the total purchase price is allocated to the tangible and identified intangible assets acquired and liabilities assumed based on their estimated fair values. The purchase price is allocated using the information currently available, and may be adjusted, up to one year from acquisition date, after obtaining more information regarding, among other things, asset valuations, liabilities assumed and revisions to preliminary estimates. The purchase price in excess of the fair value of the tangible and identified intangible assets acquired less liabilities assumed is recognized as goodwill.

The Company tests for indefinite-lived intangibles and goodwill impairment as of its fiscal year end, March 31, each year and whenever events or circumstances indicate that the carrying amount of the asset exceeds its fair value and may not be recoverable.

Indefinite-lived Intangible Assets

The Company accounts for its indefinite-lived intangible assets in accordance with ASC 350, Intangibles - Goodwill and Other. Indefinite-lived intangible assets are not amortized but instead are reviewed for impairment annually, or more frequently if an event occurs or circumstances change which indicate that an asset might be impaired. Pursuant to ASC 350, the Company tests its indefinite-lived intangible assets, which consist of certain assets acquired via the Company’s business combination with Orocidin A/S detailed in Note 9, for impairment by comparing their fair values to their carrying values. An impairment charge is recorded if the estimated fair value of such assets has decreased below their carrying values.

Revenue Recognition

The Company recognizes revenue under ASC 606, “Revenue from Contracts with Customers” (“ASC 606”). The Company determines revenue recognition through the following steps:

	●	Identification of a contract with a customer;
	●	Identification of the performance obligations in the contract;
	●	Determination of the transaction price;
	●	Allocation of the transaction price to the performance obligations in the contract; and
	●	Recognition of revenue when or as the performance obligations are satisfied.

In January 2024, the Company signed an agreement with Orocidin for which it recognized revenue in the fiscal year ended March 31, 2024. Since Orocidin became a subsidiary in the first quarter ended June 30, 2024, no more revenue is to be recognized, but will be eliminated as an intercompany transaction.

Non-controlling Interests

In accordance with ASC 810, Consolidation, the Company assesses whether it has a variable interest in legal entities in which it has a financial relationship and, if so, whether or not those entities are variable interest entities (“VIEs”). For those entities that qualify as VIEs, ASC 810 requires the Company to determine if the Company is the primary beneficiary of the VIE, and if so, to consolidate the VIE.

If an entity is determined to be a VIE, the Company evaluates whether the Company is the primary beneficiary. The primary beneficiary analysis is a qualitative analysis based on power and economics. The Company consolidates a VIE if both power and benefits belong to the Company – that is, the Company (i) has the power to direct the activities of a VIE that most significantly influence the VIE’s economic performance (power), and (ii) has the obligation to absorb losses of, or the right to receive benefits from, the VIE that could potentially be significant to the VIE (benefits). The Company consolidates VIEs whenever it is determined that the Company is the primary beneficiary.

The Company has determined that Orocidin A/S is a VIE, and that the Company is the primary beneficiary. While the Company owns 95% of Orocidin A/S’s equity interests, the remaining equity interests in Orocidin A/S are owned by unrelated third parties, and the agreement with these third parties provides the Company with greater voting rights. Accordingly, the Company consolidates its interest in the financial statements of Orocidin A/S under the VIE rules and reflects the third parties’ interests in the unaudited consolidated financial statements as a non-controlling interest. The Company records this non-controlling interest at its initial fair value, adjusting the basis prospectively for the third parties’ share of the respective consolidated investments’ net income or loss or equity contributions and distributions. These non-controlling interests are not redeemable by the equity holders and are presented as part of permanent equity. Income and losses are allocated to the non-controlling interest holders based on its economic ownership percentage. Transactions with non-controlling interests that do not result in a loss of control are accounted for as equity transactions. Any difference between the fair value of the consideration paid or received and the carrying amount of the non-controlling interest is recognized in equity.

Refer to Note 9 (“Business Combinations”) for more information regarding non-controlling interest recognized related to the Orocidin A/S business combination.

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.

In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (“DISE”), which will require additional disclosure of the nature of expenses included in the income statement in response to longstanding requests from investors for more information about an entity’s expenses. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The new standard will be effective for public companies for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The requirements will be applied prospectively with the option for retrospective application. Early adoption is permitted. The Company is currently evaluating the impact of this accounting standard update on its financial statements.

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 unaudited consolidated 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 no revenue and has incurred losses since inception resulting in an accumulated deficit of $44,642,481 as of September 30, 2024. 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, there is substantial doubt about the 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, the private placement of common stock and the exercise of outstanding warrants. The financial statements of the Company do not include any adjustments that may result from the outcome of these uncertainties.

NOTE 4 - INVESTMENTS

On June 20, 2023, the Company and GK Partners ApS entered into a Stock Purchase and Sale Agreement, under which GK Partners ApS sold to the Company 5,000,000 restricted shares of common stock of Mag Mile Capital, Inc. The shares were restricted in that they were subject to a registration statement filed on Form S-1 by Mag Mile Capital on September 6, 2023. The Form S-1 became effective on July 5, 2024, removing the restriction on the shares. In exchange, the Company issued 250,000 restricted shares of its common stock to GK Partners ApS. The shares were valued at $1,750,000, using $7.00 per share, the closing stock price for the Company’s common stock on the last business day before the agreement. The Company accounts for its investment under the guidance of ASC 321, Investments – Equity Securities, which provides guidance for equity interests that meet the definition of an equity security. Equity interests with readily determinable fair values are carried at fair value with changes in value recorded in earnings. There currently is no active market for the shares of Mag Mile Capital, Inc, therefore, the investment remains at cost until such time there is an established fair value of Mag Mile Capital, Inc’s shares to be used to adjust the value of the Company’s investment in those shares. The Company’s investment in Mag Mile Capital, Inc is subject to changes and fluctuations based on their business activities and their ability to trade in the future.

NOTE 5 - RELATED PARTY TRANSACTIONS

Mr. Tom 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 a beneficial owner of a controlling interest in Managementselskabet af 12.08.2020 A/S (formerly Nordicus Partners A/S) until its acquisition by us on February 23, 2023. He was also a beneficial owner of a controlling interest in Orocidin A/S until its acquisition by us on May 13, 2024.

On April 11, 2022, effective April 1, 2022, we issued to GK Partners, for financial services, a warrant to immediately purchase up to 600,000 shares of our common stock at an exercise price of $10.00 per share, which expired on December 31, 2023. On December 22, 2023, the expiration date of 570,500 remaining warrant shares was extended to December 31, 2024. During the year ended March 31, 2024, GK Partners exercised a portion of its warrant for a total of 30,600 shares. The exercise price was $10.00 per share for total proceeds of $306,000. During the quarter ended June 30, 2024, GK Partners exercised a portion of its warrant for 6,000 shares. The exercise price was $10.00 per share for total proceeds of $60,000. During the quarter ended September 30, 2024, GK Partners exercised a portion of its warrant for 19,400 shares. The exercise price was $10.00 per share for total proceeds of $194,000.

On February 23, 2023, pursuant to the Contribution Agreement by and among the Company, Managementselskabet af 12.08.2020 A/S (formerly Nordicus Partners A/S), GK Partners, Henrik Rouf and LSPH, were issued 250,000 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 Mag Mile Capital, Inc. In exchange, the Company issued 250,000 restricted shares of its common stock to the Seller.

Mr. Bennett Yankowitz, our chief financial officer and director, was affiliated with legal counsel who provided us with general legal services (the “Affiliate”). We recorded legal fees to the Affiliate of $20,852 and $8,603 for the three months ended September 30, 2024 and 2023, respectively, and $38,634 and $19,527 for the six months ended September 30, 2024 and 2023, respectively. As of September 30, 2024 and March 31, 2024, we had no outstanding payable due to the Affiliate for either period.

Our employment agreement with Henrik Rouf, our chief executive officer, provided for a base salary of $72,000 per year, commencing April 1, 2023, and had a term of one year. On April 8, 2024 the agreement was amended to increase Mr. Rouf’s annual salary to $120,000 and to extend the term to April 1, 2025.

Our consulting agreement with Bennett Yankowitz, our chief financial officer and a member of our board of directors, provided for a base salary of $36,000 per year, commencing April 1, 2023, and had a term of one year. On April 8, 2024 the agreement was amended to increase Mr. Yankowitz’s annual salary to $60,000 and to extend the term to April 1, 2025.

During the six months ended September 30, 2024, a related party forgave their payable of $13,886. The amount has been credited to additional paid in capital.

Effective June 3, 2024, Christian Hill-Madsen resigned from the Board of Directors of the Company, and the remaining Board members appointed Peter Severin as his replacement and as Chairman of the Board of Directors. Mr. Hill-Madsen will continue as Chairman of the Board of Orocidin A/S, of which the Company recently acquired 95% of the outstanding shares in exchange for shares of the Company.

On June 3, 2024, the Company’s Board of Directors approved a compensation plan under which the Chairman of the Board of Directors will receive compensation of $20,000 per annum, and each other Director will receive compensation of $10,000 per annum, in consideration of their serving on the Corporation’s Board of Directors, payable in equal installments semiannually in arrears, commencing December 31, 2024, without proration for partial terms.

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. Each share of Junior Preferred Stock shall entitle the holder to 100 votes on all matters submitted to a vote of the Company’s stockholders. The holders of shares of Junior Preferred Stock, in preference to the holders of the Company’s Common Stock and of any other junior stock, shall be entitled to receive, when and if declared by the Board of Directors out of funds legally available for the purpose, quarterly dividends payable in cash. Upon the Company’s liquidation, dissolution or winding up, no distribution shall be made to the holders of shares of stock ranking junior to the Junior Preferred Stock unless, prior thereto, the holders of shares of Junior Preferred Stock shall have received $100 per share, plus an amount equal to accrued and unpaid dividends and distributions thereon. The Junior Preferred Stock shall rank, with respect to the payment of dividends and the distribution of assets, junior to all series of any other class of Preferred Stock. As of September 30, 2024 and March 31, 2024, there are no shares of Junior Preferred Stock or undesignated Preferred Stock issued and outstanding.

NOTE 7 - COMMON STOCK TRANSACTIONS

The Company is authorized to issue 50,000,000 shares of Common Stock with a par value of $0.001 per share. Holders of the Company’s Common Stock are entitled to one vote for each share.

During the six months ended September 30, 2024, GK Partners exercised a portion of its warrant for 25,400 shares. The exercise price was $10.00 per share for total proceeds of $254,000.

During the six months ended September 30, 2024, the Company issued 30,000 shares of common stock for services. The value of the shares issued resulted in a total non-cash expense of $138,979.

On May 13, 2024, the Company and certain shareholders of Orocidin A/S, a Danish stock corporation entered into a Stock Purchase and Sale Agreement, under which the Company issued 3,800,000 restricted shares of its common stock to the Sellers (Note 1).

During the three months ended September 30, 2024, Orocidin A/S issued shares of its common stock in a capital raise with a third party in exchange for proceeds of $193,330. Aligned with the Company’s ownership interest in Orocidin A/S, 5% of the proceeds, or $9,667, was allocated to noncontrolling interests while 95% of the proceeds, or $183,663, was allocated to additional paid in capital.

NOTE 8 - STOCK-BASED COMPENSATION

The Company established the Nordicus Partners Corporation 2024 Stock Incentive Plan (the “Plan”). This plan was effective on June 7, 2024 per the board of directors resolution. The purpose of the Plan is to promote the long-term growth and profitability of the Company by (i) providing key people with incentives to improve stockholder value and to contribute to the growth and financial success of the Company, and (ii) enabling the Company to attract, retain and reward the best-available persons.

The Plan permits the granting of stock options (including incentive stock options qualifying under Code Section 422 and nonqualified stock options), stock appreciation rights (SARs), restricted or unrestricted stock awards, restricted stock units, performance awards, other stock-based awards, or any combination of the foregoing.

Participation in the Plan shall be open to all employees, officers, directors, and consultants of the Company, or of any affiliate of the Company, as may be selected by the Company from time to time. However, only employees of the Company, and of any parent or subsidiary of the Company, shall be eligible for the grant of an incentive stock option. The grant of an award at any time to any person shall not entitle that person to a grant of an award at any future time.

The shares of Common Stock that may be issued with respect to awards granted under the Plan shall not exceed an aggregate of 7,000,000 shares of Common Stock. The maximum number of shares of Common Stock under the Plan that may be issued as incentive stock options shall be 7,000,000 shares. Regarding performance-based award limitations, the number of shares of Common Stock that may be granted in the form of options, SARs, restricted stock awards, restricted stock units, or performance award shares in a single fiscal year to a participant may not exceed 2,000,000 of each form.

As of September 30, 2024, no stock awards of any form have been granted under this plan.

On June 17, 2024, the Company’s board of directors cancelled the Company’s 2017 Non-Qualified Equity Incentive Plan (the “2017 Plan”). At the time there were no stock awards of any kind outstanding under the 2017 Plan.

NOTE 9 - BUSINESS COMBINATION

On May 13, 2024, the Company and certain shareholders of Orocidin A/S, a Danish stock corporation entered into a Stock Purchase and Sale Agreement (“Business Combination”), under which the Company issued 3,800,000 restricted shares of its common stock to the Sellers. The shares were valued at $5.00, the closing stock price on the date of acquisition.

The Company accounted for the transaction as a business combination under ASC 805 and as a result, allocated the fair value of identifiable assets acquired and liabilities assumed as of the acquisition date as outlined in the table below. The excess of the purchase price over the estimated fair values of the underlying identifiable assets acquired, liabilities assumed was allocated to goodwill.

The allocation of the purchase price and the estimated fair values of the assets acquired, liabilities assumed, and noncontrolling interest are shown below:

Consideration
Consideration issued	$	18,050,000
Identified assets and liabilities
Cash		134,572
Intangible assets		223,316
Other receivables		29,906
Accounts payable and accruals		(29,779	)
Total identified assets, liabilities, and noncontrolling interest		358,015
Non-controlling interest		950,000
Excess purchase price allocated to goodwill	$	18,641,985

From the closing date of the Business Combination through September 30, 2024, Orocidin A/S has incurred $40,693 in net losses.

NOTE 10 - WARRANTS

A summary of the Company’s outstanding warrants as of September 30, 2024 is as follows.

SCHEDULE OF WARRANT ACTIVITIES

				Weighted		Weight
				Average		Average
	Number of			Exercise		Remaining Contract		Intrinsic
	Warrants			Price		Term		Value
Outstanding, March 31, 2024		632,900		$	10		1.35	$	—
Issued		—			—		—		—
Expired		—			—		—		—
Exercised		(25,400	)		10		—		—
Outstanding, September 30, 2024		607,500		$	10		0.62	$	—

NOTE 11 - 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 has the following material subsequent events to disclose in these financial statements.

Subsequent to September 30, 2024, GK Partners exercised a portion of its warrant for a total of 22,200 shares. The exercise price was $10.00 per share for total proceeds of $222,000.

On November 11, 2024, the Company announced that it entered into an agreement with Bio-Convert ApS (“Bio-Convert”) to acquire 100% of the outstanding shares of Bio-Convert in exchange for 12 million shares of the Company’s restricted common stock. Bio-Convert is a Denmark-based clinical-stage biopharmaceutical company focused on revolutionizing the treatment of oral leukoplakia, which is a potentially malignant disorder affecting the oral mucosa. Oral leukoplakia is a white patch or plaque that can develop in the oral cavity and cause oral cancer. Bio-Convert is developing a new pharmaceutical drug product for the treatment of oral leukoplakia and the prevention of oral cancer formation.

On November 12, 2024, the Company announced that it entered into an agreement with Orocidin A/S to acquire the remaining 29,663 outstanding shares, or approximately 5%, of Orocidin A/S. In exchange, the Company issued 200,000 shares of restricted common stock to the selling shareholders of Orocidin. Upon closing of the acquisition, Orocidin A/S became a 100% wholly owned subsidiary of the Company.

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

Cautionary Note Regarding Forward-Looking Statements

The information in this report contains forward-looking statements. All statements other than statements of historical fact made in this report are forward-looking. In particular, the statements herein regarding industry prospects and future results of operations or financial position are forward-looking statements. These forward-looking statements can be identified by the use of words such as “believes,” “estimates,” “could,” “possibly,” “probably,” anticipates,” “projects,” “expects,” “may,” “will,” or “should” or other variations or similar words. No assurances can be given that the future results anticipated by the forward-looking statements will be achieved. Forward-looking statements reflect management’s current expectations and are inherently uncertain. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, our actual results may differ significantly from management’s expectations. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those anticipated in these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this Quarterly Report on Form 10-Q or, in the case of documents referred to or incorporated by reference, the date of those documents.

The following discussion and analysis should be read in conjunction with our unaudited financial statements, included herewith. This discussion should not be construed to imply that the results discussed herein will necessarily continue into the future, or that any conclusion reached herein will necessarily be indicative of actual operating results in the future. Such discussion represents only the best present assessment of our management.

Corporate History

We were founded in 1993 and in 2007 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 March 3, 2020, we changed our name 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.

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 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 250,000 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.

On May 16, 2024, we acquired a 95% interest in Orocidin A/S, a clinical-stage biopharmaceutical company which is advancing the next generation of periodontitis therapies.

On June 3, 2024, Mr. Chrisitan Hill-Madsen resigned as a director of the Company and Peter Severin was appointed as his replacement.

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 pharmaceutical, life sciences and healthcare industries.

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.

Reverse Stock Split

On November 8, 2024, the Company effectuated a 1-for-10 reverse stock split of its issued and outstanding common stock, rounding up to account for any fractional shares (the “Reverse Stock Split”). The Reverse Stock Split had no effect on the Company’s authorized shares of common stock or preferred stock and the par value will remain unchanged at $0.001, respectively. All common stock share, option, warrant and per share amounts (except our authorized but unissued shares) have been retroactively adjusted in these consolidated financial statements and related disclosures.

Results of Operations

Three Months Ended September 30, 2024 Compared to the Three Months Ended September 30, 2023

Operating Expenses

During the three months ended September 30, 2024, we had officer compensation expense of $49,104 compared to $30,593 for the three months ended September 30, 2023, an increase of $18,511 or 61%. 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, increasing our total compensation expense. See Note 5 to our accompanying consolidated financial statements for more information on related party transactions.

For the three months ended September 30, 2024, we had professional fees of $46,428 compared to $56,868 for the three months ended September 30, 2023, a decrease of $10,440 or 18%. The decrease is largely due to decreased legal expenses.

For the three months ended September 30, 2024, we had general and administrative expenses (“G&A”) of $71,154 compared to $9,420 for the three months ended September 30, 2023, an increase of $61,734 or 655%. The increase in G&A expense is attributable to expenses incurred by our two subsidiaries.

Other Income

For the three months ended September 30, 2024, we had no other expense or income compared to total other expense of $1,909 in the prior period.

Net Loss Attributable to Nordicus Partners Corporation

For the three months ended September 30, 2024, we had a net loss of $500,785 compared to $98,790 in the prior period. The large increase in our net loss is due to the non-cash expense we incurred for consulting expense as well as the increased expenses attributed to our subsidiaries.

Six Months Ended September 30, 2024 Compared to the Six Months Ended September 30, 2023

Operating Expenses

During the six months ending September 30, 2024, we had officer compensation expense of $98,546 compared to $57,593 for the six months ended September 30, 2023, an increase of $40,953 or 71%. 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, increasing our total compensation expense. See Note 5 to our accompanying consolidated financial statements for more information on related party transactions.

For the six months ending September 30, 2024, we had professional fees of $72,210 compared to $76,793 for the six months ended September 30, 2023, a decrease of $4,583 or 6%. The decrease is largely due to decreased legal expenses.

For the six months ending September 30, 2024, we issued 300,000 shares of common stock for a consulting expense of $150,000. We had no such expense in the prior period.

For the six months ending September 30, 2024, we had general and administrative expenses (“G&A”) of $104,099 compared to $14,084 for the six months ended September 30, 2023, an increase of $90,015 or 639%. The increase in G&A expense is attributable to expenses incurred by our two subsidiaries.

Other Income

For the six months ending September 30, 2024, we had no other expense or income compared to total other expense of $9,384 in the prior period.

Net Loss Attributable to Nordicus Partners Corporation

For the six months ending September 30, 2024, we had a net loss of $758,954 compared to $139,086 in the prior period. The large increase in our net loss is due to the non-cash expense we incurred for consulting expense as well as the increased expenses attributed to our subsidiaries.

Liquidity and Capital Resources

During the six months ending September 30, 2024, we used $599,871 in operating activities compared to $100,136 used in operating activities in the prior period.

During the six months ending September 30, 2024, we used $132,198 in investing activities compared to no cash used in or provided by investing activities during the six months ended September 30, 2023.

During the six months ending September 30, 2024, we received $447,330 from financing activities from the exercise of warrants and proceeds from issuance of common stock in capital raise. In the prior period we received $105,000 from financing activities from the exercise of warrants and $1,924 from a related party.

Critical Accounting Policies

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

Off-Balance Sheet Arrangements

As of September 30, 2024, 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.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Not applicable.

Item 4. Controls and Procedures

Our chief executive and financial officer, evaluated the effectiveness of our disclosure controls and procedures as of September 30, 2024, using the Internal Control – Integrated Framework (2013) developed by the Committee of Sponsoring Organizations of the Treadway Commission. 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 and financial officer concluded that our disclosure controls and procedures as of September 30, 2024, were not effective at the reasonable assurance level due to limited resources in the finance and accounting functions. We intend to take appropriate and reasonable steps to make improvements to remediate these deficiencies.

Changes in Internal Control Over Financial Reporting

There have not been any changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) under the Exchange Act) during the fiscal period to which this report relates that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. 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 1A. Risk Factors

Not applicable.

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

None

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

Item 6. Exhibits

Exhibit No.		Description
31.1		Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of the Principal Financial and Accounting Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxomony Extension Calculation Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: November 14, 2024	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/ Peter Severin
		Peter Severin
		Chairman

	By	/s/ Henrik Keller
		Henrik Keller
		Director

Exhibit 31.1

CERTIFICATION

I, Henrik Rouf, hereby certify that:

1. I have reviewed this Quarterly Report on Form 10-Q 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 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. I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal 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. I have disclosed, based on my 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: November 14, 2024

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

Exhibit 31.2

CERTIFICATION

I, Bennett J. Yankowitz, hereby certify that:

1. I have reviewed this Quarterly Report on Form 10-Q 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: November 14, 2024

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

Exhibit 32.1

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 Quarterly Report of Nordicus Partners Corporation, a Delaware corporation (the “Company”), on Form 10-Q for the quarter ended September 30, 2024, 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: November 14, 2024

/s/ Henrik Rouf
Henrik Rouf
Chief Executive Officer

In connection with the Quarterly Report of Nordicus Partners Corporation, a Delaware corporation (the “Company”), on Form 10-Q for the quarter ended September 30, 2024, 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: November 14, 2024

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

Cover - shares	6 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 14, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2025
Current Fiscal Year End Date	--03-31
Entity File Number	001-11737
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	280 South Beverly Dr.
Entity Address, Address Line Two	Suite 505
Entity Address, City or Town	Beverly Hills
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	310
Local Phone Number	666-0750
Title of 12(g) Security	Common Stock, $0.001 par value per share
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,188,166

Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Mar. 31, 2024
Current assets:
Cash	$ 46,131	$ 49,933
Prepaid expenses and other current assets	72,338
Total current assets	118,469	49,933
Website	10,014	7,640
Intangible assets	223,316
Other assets	41,424
Goodwill	18,641,985
Investment in Mag Mile Capital, Inc.	1,750,000	1,750,000
Total Assets	20,785,208	1,807,573
Current Liabilities:
Accounts payable and accrued expenses	145,368	5,019
Deferred revenue	7,500	7,500
Total current liabilities	152,868	26,405
Total Liabilities	152,868	26,405
Commitments and contingencies
Stockholders’ equity:
Common stock; $0.001 par value; 50,000,000 shares authorized; 4,965,626 and 1,110,226 shares issued and outstanding at September 30, 2024 and March 31, 2024, respectively	4,966	1,110
Treasury stock; 154 shares at cost	(30,328)	(30,328)
Additional paid-in capital	64,333,434	45,696,761
Accumulated other comprehensive loss	13,693	(2,848)
Accumulated deficit	(44,642,481)	(43,883,527)
Total equity attributed to the parent	19,679,284	1,781,168
Non-controlling interest	953,056
Total stockholders’ equity	20,632,340	1,781,168
Total Liabilities and Stockholders’ Equity	20,785,208	1,807,573
Related Party [Member]
Current Liabilities:
Related party payable		$ 13,886

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	4,965,626	1,110,226
Common stock, shares outstanding	4,965,626	1,110,226
Treasury stock, shares	154	154

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenue	$ 2,500		$ 2,500
Operating expenses:
Officer compensation	49,104	30,593	98,546	57,593
Professional fees	46,428	56,868	72,210	76,793
Consulting expense			150,000
General and administrative	71,154	9,420	104,099	14,084
Research and development	343,209		343,209
Total operating expenses	509,895	96,881	768,064	148,470
Loss from operations	(507,395)	(96,881)	(765,564)	(148,470)
Other (expense) income:
Interest expense	(1)		(1)
Other (expense) income		(1,909)		9,384
Total other (expense) income	(1)	(1,909)	(1)	9,384
Loss from operations before provision for income taxes	(507,396)	(98,790)	(765,565)	(139,086)
Provision for income tax
Net loss	(507,396)	(98,790)	(765,565)	(139,086)
Net loss attributable to noncontrolling interests	(6,611)		(6,611)
Net loss attributable to Nordicus Partners Corporation	(500,785)	(98,790)	(758,954)	(139,086)
Other comprehensive income (loss):
Foreign currency translation adjustment	16,771	(3,104)	16,541	(3,165)
Comprehensive loss	$ (484,014)	$ (101,894)	$ (742,413)	$ (142,251)
Net loss per shares - basic	$ (0.10)	$ (0.09)	$ (0.19)	$ (0.14)
Net loss per shares - diluted	$ (0.10)	$ (0.09)	$ (0.19)	$ (0.14)
Weighted average common shares outstanding - basic	4,960,079	1,084,665	4,050,313	972,283
Weighted average common shares outstanding - diluted	4,960,079	1,084,665	4,050,313	972,283

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Common Stock To Be Issued [Member]	AOCI Attributable to Parent [Member]	Total Equity Attributed to Parent [Member]	Noncontrolling Interest [Member]	Total
Balance at Mar. 31, 2023	$ 830	$ 42,254,155	$ (42,197,663)	$ (30,328)		$ 665			$ 27,658
Balance, shares at Mar. 31, 2023	829,626
Exercise of warrants					25,000				25,000
Net loss			(40,296)						(40,296)
Foreign currency translation adjustment						(61)			(61)
Shares issued for stock investment	$ 250	1,749,750							1,750,000
Shares issued for stock investment, shares	250,000
Balance at Jun. 30, 2023	$ 1,080	44,003,905	(42,237,959)	(30,328)	25,000	604			1,762,301
Balance, shares at Jun. 30, 2023	1,079,626
Balance at Mar. 31, 2023	$ 830	42,254,155	(42,197,663)	(30,328)		665			27,658
Balance, shares at Mar. 31, 2023	829,626
Net loss									(139,086)
Foreign currency translation adjustment									(3,165)
Balance at Sep. 30, 2023	$ 1,088	44,083,897	(42,336,749)	(30,328)	25,000	(2,500)			1,740,407
Balance, shares at Sep. 30, 2023	1,087,626
Balance at Mar. 31, 2023	$ 830	42,254,155	(42,197,663)	(30,328)		665			27,658
Balance, shares at Mar. 31, 2023	829,626
Balance at Mar. 31, 2024	$ 1,110	45,696,761	(43,883,527)	(30,328)		(2,848)	$ 1,781,168		1,781,168
Balance, shares at Mar. 31, 2024	1,110,226
Balance at Jun. 30, 2023	$ 1,080	44,003,905	(42,237,959)	(30,328)	25,000	604			1,762,301
Balance, shares at Jun. 30, 2023	1,079,626
Exercise of warrants	$ 8	79,992							80,000
Exercise of warrants, shares	8,000
Net loss			(98,790)						(98,790)
Foreign currency translation adjustment						(3,104)			(3,104)
Balance at Sep. 30, 2023	$ 1,088	44,083,897	(42,336,749)	(30,328)	25,000	(2,500)			1,740,407
Balance, shares at Sep. 30, 2023	1,087,626
Balance at Mar. 31, 2024	$ 1,110	45,696,761	(43,883,527)	(30,328)		(2,848)	1,781,168		1,781,168
Balance, shares at Mar. 31, 2024	1,110,226
Shares issued in business combination	$ 3,800	18,046,200					18,050,000		18,050,000
Shares issued in business combination, shares	3,800,000
Exercise of warrants	$ 6	59,994					60,000		60,000
Exercise of warrants, shares	6,000
Shares issued for services	$ 30	138,949					138,979		138,979
Shares issued for services, shares	30,000
Forgiveness of debt - related party		13,886					13,886		13,886
Recognition of non-controlling interest								950,000	950,000
Net loss			(258,169)				(258,169)		(258,169)
Foreign currency translation adjustment						(230)	(230)		(230)
Balance at Jun. 30, 2024	$ 4,946	63,955,790	(44,141,696)	(30,328)		(3,078)	19,785,634	950,000	20,735,634
Balance, shares at Jun. 30, 2024	4,946,226
Balance at Mar. 31, 2024	$ 1,110	45,696,761	(43,883,527)	(30,328)		(2,848)	1,781,168		$ 1,781,168
Balance, shares at Mar. 31, 2024	1,110,226
Shares issued for services, shares									30,000
Forgiveness of debt - related party									$ 13,886
Net loss									(765,565)
Foreign currency translation adjustment									16,541
Shares issued for stock investment, shares	50,000,000
Balance at Sep. 30, 2024	$ 4,966	64,333,434	(44,642,481)	(30,328)		13,693	19,679,284	953,056	20,632,340
Balance, shares at Sep. 30, 2024	4,965,626
Balance at Jun. 30, 2024	$ 4,946	63,955,790	(44,141,696)	(30,328)		(3,078)	19,785,634	950,000	20,735,634
Balance, shares at Jun. 30, 2024	4,946,226
Exercise of warrants	$ 19	193,981					194,000		194,000
Exercise of warrants, shares	19,400
Net loss			(500,785)				(500,785)	(6,611)	(507,396)
Foreign currency translation adjustment						16,771	16,771		16,771
Orocidin issuance of common stock in capital raise		183,663					183,663	9,667	193,330
Balance at Sep. 30, 2024	$ 4,966	$ 64,333,434	$ (44,642,481)	$ (30,328)		$ 13,693	$ 19,679,284	$ 953,056	$ 20,632,340
Balance, shares at Sep. 30, 2024	4,965,626

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Cash flows from operating activities:
Net loss	$ (507,396)	$ (258,169)	$ (98,790)	$ (40,296)	$ (765,565)	$ (139,086)
Adjustments to reconcile net loss to net cash used in operating activities:
Shares issued for services					138,979
Derecognition of deferred revenue upon consolidation of Orocidin A/S					(7,500)
Changes in assets and liabilities:
Prepaid expenses and other current assets					(42,431)	(1,932)
Receivables						44,481
Other assets					(41,424)
Accounts payable and accrued expenses					110,570	8,528
Deferred revenue					7,500
Related party payable						(12,127)
Net cash used in operating activities					(599,871)	(100,136)
Cash flows from investing activities:
Cash paid for website costs					(2,374)
Cash acquired in acquisition					134,572
Net cash used in investing activities					132,198
Cash flows from financing activities:
Advance from related party						1,924
Proceeds from Orocidin issuance of common stock in capital raise					193,330
Proceeds from exercise of warrants					254,000	105,000
Net cash provided by financing activities					447,330	106,924
Net change in cash					(20,343)	6,788
Effect of exchange rate on cash					16,541	(3,165)
Cash at beginning of period		$ 49,933		$ 7,149	49,933	7,149	$ 7,149
Cash at end of period	$ 46,131		$ 10,772		46,131	10,772	$ 49,933
Supplemental disclosures of non-cash information:
Common stock issued for shares of Myson, Inc.						1,750,000
Common stock issued for the acquisition of Orocidin A/S					18,050,000
Forgiveness of debt - related party					$ 13,886

ORGANIZATION AND DESCRIPTION OF BUSINESS

6 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

ORGANIZATION AND DESCRIPTION OF BUSINESS

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

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

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 November 29, 2023, the Company’s subsidiary, Nordicus Partners A/S, changed its name to Managementselskabet af 12.08.2020 A/S.

On June 3, 2024, Mr. Christian Hill-Madsen resigned as a director of the Company and Peter Severin was appointed as his replacement.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Reverse Stock Split

Use of Estimates

Concentration of Credit Risk

Cash and Cash Equivalents

Principles of Consolidation

Translation Adjustment

Comprehensive Loss

Research and Development Costs

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

Goodwill

Indefinite-lived Intangible Assets

Revenue Recognition

The Company recognizes revenue under ASC 606, “Revenue from Contracts with Customers” (“ASC 606”). The Company determines revenue recognition through the following steps:

	●	Identification of a contract with a customer;
	●	Identification of the performance obligations in the contract;
	●	Determination of the transaction price;
	●	Allocation of the transaction price to the performance obligations in the contract; and
	●	Recognition of revenue when or as the performance obligations are satisfied.

Non-controlling Interests

Refer to Note 9 (“Business Combinations”) for more information regarding non-controlling interest recognized related to the Orocidin A/S business combination.

Recently Issued Accounting Pronouncements

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.

GOING CONCERN

6 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

GOING CONCERN

NOTE 3 - GOING CONCERN

INVESTMENTS

6 Months Ended

Sep. 30, 2024

Investments, All Other Investments [Abstract]

INVESTMENTS

NOTE 4 - INVESTMENTS

RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2024

RELATED PARTY TRANSACTIONS

NOTE 5 - RELATED PARTY TRANSACTIONS

During the six months ended September 30, 2024, a related party forgave their payable of $13,886. The amount has been credited to additional paid in capital.

PREFERRED STOCK

6 Months Ended

Sep. 30, 2024

Equity [Abstract]

PREFERRED STOCK

NOTE 6 - PREFERRED STOCK

Preferred Stock

COMMON STOCK TRANSACTIONS

6 Months Ended

Sep. 30, 2024

Equity [Abstract]

COMMON STOCK TRANSACTIONS

NOTE 7 - COMMON STOCK TRANSACTIONS

The Company is authorized to issue 50,000,000 shares of Common Stock with a par value of $0.001 per share. Holders of the Company’s Common Stock are entitled to one vote for each share.

During the six months ended September 30, 2024, GK Partners exercised a portion of its warrant for 25,400 shares. The exercise price was $10.00 per share for total proceeds of $254,000.

During the six months ended September 30, 2024, the Company issued 30,000 shares of common stock for services. The value of the shares issued resulted in a total non-cash expense of $138,979.

STOCK-BASED COMPENSATION

6 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

NOTE 8 - STOCK-BASED COMPENSATION

As of September 30, 2024, no stock awards of any form have been granted under this plan.

BUSINESS COMBINATION

6 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

BUSINESS COMBINATION

NOTE 9 - BUSINESS COMBINATION

The allocation of the purchase price and the estimated fair values of the assets acquired, liabilities assumed, and noncontrolling interest are shown below:

Consideration
Consideration issued	$	18,050,000
Identified assets and liabilities
Cash		134,572
Intangible assets		223,316
Other receivables		29,906
Accounts payable and accruals		(29,779	)
Total identified assets, liabilities, and noncontrolling interest		358,015
Non-controlling interest		950,000
Excess purchase price allocated to goodwill	$	18,641,985

From the closing date of the Business Combination through September 30, 2024, Orocidin A/S has incurred $40,693 in net losses.

WARRANTS

6 Months Ended

Sep. 30, 2024

Warrants

WARRANTS

NOTE 10 - WARRANTS

A summary of the Company’s outstanding warrants as of September 30, 2024 is as follows.

SCHEDULE OF WARRANT ACTIVITIES

				Weighted		Weight
				Average		Average
	Number of			Exercise		Remaining Contract		Intrinsic
	Warrants			Price		Term		Value
Outstanding, March 31, 2024		632,900		$	10		1.35	$	—
Issued		—			—		—		—
Expired		—			—		—		—
Exercised		(25,400	)		10		—		—
Outstanding, September 30, 2024		607,500		$	10		0.62	$	—

SUBSEQUENT EVENTS

6 Months Ended

Sep. 30, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE 11 - SUBSEQUENT EVENTS

Subsequent to September 30, 2024, GK Partners exercised a portion of its warrant for a total of 22,200 shares. The exercise price was $10.00 per share for total proceeds of $222,000.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

Basis of Presentation

Reverse Stock Split

Reverse Stock Split

Use of Estimates

Use of Estimates

Concentration of Credit Risk

Concentration of Credit Risk

Cash and Cash Equivalents

Cash and Cash Equivalents

Principles of Consolidation

Principles of Consolidation

Translation Adjustment

Translation Adjustment

Comprehensive Loss

Comprehensive Loss

Research and Development Costs

Research and Development Costs

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

Goodwill

Goodwill

Indefinite-lived Intangible Assets

Indefinite-lived Intangible Assets

Revenue Recognition

Revenue Recognition

The Company recognizes revenue under ASC 606, “Revenue from Contracts with Customers” (“ASC 606”). The Company determines revenue recognition through the following steps:

	●	Identification of a contract with a customer;
	●	Identification of the performance obligations in the contract;
	●	Determination of the transaction price;
	●	Allocation of the transaction price to the performance obligations in the contract; and
	●	Recognition of revenue when or as the performance obligations are satisfied.

Non-controlling Interests

Non-controlling Interests

Refer to Note 9 (“Business Combinations”) for more information regarding non-controlling interest recognized related to the Orocidin A/S business combination.

Recently Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

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.

BUSINESS COMBINATION (Tables)

6 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

SCHEDULE OF PURCHASE PRICE AND ESTIMATED MARKET VALUE OF THE ASSETS ACQUIRED LIABILITIES

The allocation of the purchase price and the estimated fair values of the assets acquired, liabilities assumed, and noncontrolling interest are shown below:

Consideration
Consideration issued	$	18,050,000
Identified assets and liabilities
Cash		134,572
Intangible assets		223,316
Other receivables		29,906
Accounts payable and accruals		(29,779	)
Total identified assets, liabilities, and noncontrolling interest		358,015
Non-controlling interest		950,000
Excess purchase price allocated to goodwill	$	18,641,985

WARRANTS (Tables)

6 Months Ended

Sep. 30, 2024

Warrants

SCHEDULE OF WARRANT ACTIVITIES

A summary of the Company’s outstanding warrants as of September 30, 2024 is as follows.

SCHEDULE OF WARRANT ACTIVITIES

				Weighted		Weight
				Average		Average
	Number of			Exercise		Remaining Contract		Intrinsic
	Warrants			Price		Term		Value
Outstanding, March 31, 2024		632,900		$	10		1.35	$	—
Issued		—			—		—		—
Expired		—			—		—		—
Exercised		(25,400	)		10		—		—
Outstanding, September 30, 2024		607,500		$	10		0.62	$	—

ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative) - USD ($)								3 Months Ended	6 Months Ended
	Nov. 08, 2024	May 13, 2024	Feb. 23, 2023	Mar. 15, 2022	Mar. 11, 2022	Oct. 12, 2021	Jan. 31, 2020	Jun. 30, 2023	Sep. 30, 2024	Jun. 03, 2024	Mar. 31, 2024	Jun. 01, 2023
Cash consideration for shares								$ 1,750,000
Reverse stock split	1-for-10 reverse stock split
Common stock, par value	$ 0.001								$ 0.001		$ 0.001
Orocidin A/S [Member] \| Restricted Stock [Member]
Number of shares issued		3,800,000
Common Stock [Member]
Stock issued during period, shares, new issues								250,000	50,000,000
Cash consideration for shares								$ 250
Common stock, par value									$ 0.001
Mag Mile Capital Inc [Member]
Equity interest acquired, percentage												4.99%
Orocidin A/S [Member]
Ownership percentage			95.00%						95.00%	95.00%
Orocidin A/S [Member] \| Common Stock [Member]
Outstanding shares percentage		95.00%
Number of shares issued		525,597
Asset Purchase Agreement [Member]
Purchase price of asset							$ 7,250,000
Stock Purchase Agreement [Member] \| Reddington Partners LLC [Member]
Stock issued during period, shares, new issues						511,448
Outstanding shares percentage				90.00%		90.00%
Cash consideration for shares						$ 400,000
Reverse stock split					1-for 50 reverse stock split
Common stock owned				511,448
Stock Purchase Agreement [Member] \| Reddington Partners LLC [Member] \| First Closing [Member]
Stock issued during period, shares, new issues					42,273
Stock Purchase Agreement [Member] \| Reddington Partners LLC [Member] \| Second Closing [Member]
Stock issued during period, shares, new issues				469,175
Contribution Agreement [Member]
Stock issued during period, shares, new issues			250,000
Outstanding shares percentage			100.00%
Common stock, par value			$ 0.001
Contribution Agreement [Member] \| Nordicus Partners A/S [Member]
Ownership percentage			100.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)		6 Months Ended
	Nov. 08, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 03, 2024	Mar. 31, 2024	Feb. 23, 2023
Reverse stock split	1-for-10 reverse stock split
Common stock par value	$ 0.001	$ 0.001			$ 0.001
Preferred stock par value	$ 0.001	$ 0.001
Cash equivalents		$ 0			$ 0
Shares issued for services		30,000
Dilutive shares of common stock from warrants		607,500	653,000
Orocidin A/S [Member]
Ownership percentage		95.00%		95.00%		95.00%

GOING CONCERN (Details Narrative) - USD ($)	Sep. 30, 2024	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 44,642,481	$ 43,883,527

INVESTMENTS (Details Narrative) - GK Partners [Member] - Restricted Stock [Member]	Jun. 20, 2023 USD ($) $ / shares shares
Defined Benefit Plan Disclosure [Line Items]
Number of shares issued	250,000
Mag Mile Capital Inc [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of shares issued	5,000,000
Stock issued during period, value \| $	$ 1,750,000
Common stock price per share \| $ / shares	$ 7.00

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)						3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 03, 2024	Apr. 08, 2024	Jun. 20, 2023	Apr. 01, 2023	Feb. 23, 2023	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Dec. 22, 2023	Apr. 11, 2022
Related Party Transaction [Line Items]
Proceeds from warrant exercises									$ 254,000	$ 105,000
Officers compensation						$ 49,104		$ 30,593	98,546	57,593
Forgiveness of debt - related party							$ 13,886		$ 13,886
Board of Directors Chairman [Member]
Related Party Transaction [Line Items]
Officers compensation	$ 20,000
Director [Member]
Related Party Transaction [Line Items]
Officers compensation	$ 10,000
Orocidin A/S [Member]
Related Party Transaction [Line Items]
Ownership percentage	95.00%				95.00%	95.00%			95.00%
Contribution Agreement [Member]
Related Party Transaction [Line Items]
Number of shares issued					250,000
GK Partners [Member]
Related Party Transaction [Line Items]
Warrant to purchase common stock													600,000
Exercise price per share						$ 10.00	$ 10.00		$ 10.00		$ 10.00		$ 10.00
Expiration date, warrants												Dec. 31, 2024	Dec. 31, 2023
Number of remaining warrants												570,500
Shares issued in exercise of warrants						19,400	6,000		25,400		30,600
Proceeds from warrant exercises							$ 60,000		$ 254,000		$ 306,000
GK Partners [Member] \| Restricted Stock [Member]
Related Party Transaction [Line Items]
Shares issued			250,000
GK Partners [Member] \| Mag Mile Capital Inc [Member] \| Restricted Stock [Member]
Related Party Transaction [Line Items]
Shares issued			5,000,000
GK Partners [Member] \| Warrant [Member]
Related Party Transaction [Line Items]
Exercise price per share						$ 10.00			$ 10.00
Proceeds from warrant exercises						$ 194,000
Mr. Bennett Yankowitz [Member]
Related Party Transaction [Line Items]
Legal fees						20,852		$ 8,603	$ 38,634	$ 19,527
Due to related party						$ 0			$ 0		$ 0
Officers compensation		$ 60,000		$ 36,000
Employment agreement term				1 year
Employment agreement expiration date		Apr. 01, 2025
Henrik Rouf [Member]
Related Party Transaction [Line Items]
Officers compensation		$ 120,000		$ 72,000
Employment agreement term				1 year
Employment agreement expiration date		Apr. 01, 2025

PREFERRED STOCK (Details Narrative) - $ / shares	6 Months Ended
PREFERRED STOCK (Details Narrative) - $ / shares	Sep. 30, 2024	Nov. 08, 2024	Mar. 31, 2024
Class of Stock [Line Items]
Preferred stock shares authorized	5,000,000
Preferred stock par value	$ 0.001	$ 0.001
Preferred stock, shares issued and redeemed	500,000
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par value	$ 100
Preferred stock, shares issued	0		0
Preferred stock, shares outstanding	0		0
Series A Junior Participating Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock shares authorized	500,000

COMMON STOCK TRANSACTIONS (Details Narrative) - USD ($)			3 Months Ended				6 Months Ended		12 Months Ended
COMMON STOCK TRANSACTIONS (Details Narrative) - USD ($)	May 13, 2024	Jun. 20, 2023	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Nov. 08, 2024	Jun. 03, 2024	Feb. 23, 2023	Apr. 11, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock par value			$ 0.001				$ 0.001		$ 0.001	$ 0.001
Proceeds from warrant exercises							$ 254,000	$ 105,000
Shares issued for service, share							30,000
Issuance of common stock							$ 193,330
Orocidin A/S [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Ownership percentage			5.00%				5.00%
Noncontrolling interests			95.00%				95.00%				95.00%	95.00%
GK Partners [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued in exercise of warrants			19,400	6,000			25,400		30,600
Exercise price per share			$ 10.00	$ 10.00			$ 10.00		$ 10.00				$ 10.00
Proceeds from warrant exercises				$ 60,000			$ 254,000		$ 306,000
Shares issued for service, share							30,000
Non-cash expenses							$ 138,979
GK Partners [Member] \| Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued		250,000
Orocidin A/S [Member] \| Restricted Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued	3,800,000
Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Shares issued for stock investment, shares						250,000	50,000,000
Common stock par value			$ 0.001				$ 0.001
Shares issued in exercise of warrants			19,400	6,000	8,000
Shares issued for service, share				30,000
Common Stock [Member] \| Orocidin A/S [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock							$ 193,330
Noncontrolling Interest [Member] \| Orocidin A/S [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock							9,667
Additional Paid-in Capital [Member] \| Orocidin A/S [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Issuance of common stock							$ 183,663

STOCK-BASED COMPENSATION (Details Narrative) - shares		6 Months Ended
STOCK-BASED COMPENSATION (Details Narrative) - shares	Jun. 17, 2024	Sep. 30, 2024	Jun. 07, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock awards		0
2017 Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock awards	0
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock awards, shares			7,000,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock awards, shares			2,000,000
Common Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock awards, shares			7,000,000

SCHEDULE OF PURCHASE PRICE AND ESTIMATED MARKET VALUE OF THE ASSETS ACQUIRED LIABILITIES (Details) - USD ($)	May 13, 2024	Sep. 30, 2024
Identified assets and liabilities
Excess purchase price allocated to goodwill		$ 18,641,985
Danish Stock Corporation [Member]
Consideration
Consideration issued	$ 18,050,000
Identified assets and liabilities
Cash	134,572
Intangible assets	223,316
Other receivables	29,906
Accounts payable and accruals	(29,779)
Total identified assets, liabilities, and noncontrolling interest	358,015
Non-controlling interest	950,000
Excess purchase price allocated to goodwill	$ 18,641,985

BUSINESS COMBINATION (Details Narrative) - USD ($)		3 Months Ended		5 Months Ended	6 Months Ended
BUSINESS COMBINATION (Details Narrative) - USD ($)	May 13, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Net Losses		$ (500,785)	$ (98,790)		$ (758,954)	$ (139,086)
Danish Stock Corporation [Member]
Business Acquisition [Line Items]
Number of share issued for acquisitions	3,800,000
Business acquisition, share price	$ 5.00
Orocidin A/S [Member]
Business Acquisition [Line Items]
Net Losses				$ 40,693

SCHEDULE OF WARRANT ACTIVITIES (Details) - Warrant [Member] - USD ($)	6 Months Ended	12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024
Number of Warrants, Beginning balance	632,900
Weighted Average Exercise Price, Beginning balance	$ 10
Weighted Average Remaining Contractual term,Outstanding	7 months 13 days	1 year 4 months 6 days
Intrinsic Value, Beginning balance
Number of Warrants, Issued
Number of Warrants, Expired
Number of Warrants, Exercised	(25,400)
Weighted Average Exercise Price, Exercised	$ 10
Number of Warrants, Ending balance	607,500	632,900
Weighted Average Exercise Price, Ending balance	$ 10	$ 10
Intrinsic Value, Ending balance

SUBSEQUENT EVENTS (Details Narrative) - USD ($)			1 Months Ended	6 Months Ended
SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Nov. 12, 2024	Nov. 11, 2024	Nov. 14, 2024	Sep. 30, 2024	Sep. 30, 2023
Subsequent Event [Line Items]
Proceeds from exercise of warrants				$ 254,000	$ 105,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of shares of stock issued to acquisitions	29,663
Restricted stock award, gross	200,000
Ownership percentage	100.00%
Subsequent Event [Member] \| Restricted Common Stock [Member]
Subsequent Event [Line Items]
Stock conversion, description		acquire 100% of the outstanding shares of Bio-Convert in exchange for 12 million shares
Outstanding shares, converted		12,000,000
GK Partners [Member]
Subsequent Event [Line Items]
Common stock issued on exercise of warrants			22,200
Exercise price of warrants			$ 10.00
Proceeds from exercise of warrants			$ 222,000

NORDICUS Partners (QB) (USOTC:NORDD)
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