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SEGMENT INFORMATION
 12 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

NOTE 18 – SEGMENT INFORMATION


FASB ASC 280, “Segment Reporting” establishes standards for reporting information about reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group (“CODM”), in deciding how to allocate resources and in assessing performance. The CODM evaluates revenues and gross profits based on product lines and routes to market. Based on our integration and Management strategies, we operate in two reportable segments: (i) Infrastructure segment and (ii) Life Sciences segment.


The Company’s CODM is the Company’s chief executive officer (“CEO”). The CEO reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. Therefore, and before our Life Sciences segment started, the Company had determined that it operated in a single operating and reportable segment. As of the date of this report and in preparation for the new and different source of revenue, the Company has determined that it operates in two operating and reportable segments: (a) Infrastructure segment and (b) Life Sciences segment. The Company does not include intercompany transfers between segments for Management reporting purposes.


The following provides information required by ASC 280-10-50-38 “Entity-wide Information”:


1)     The table below shows revenue reported by segment:


Product & Service


   

(in thousands)

  

Segments

  

Fiscal 2021

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     175       20

%

Life Sciences segment

     723       80

%

Total

     898       100

%

   

(in thousands)

  

Segments

  

Fiscal 2020

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     3,661       90

%

Life Sciences segment

     411       10

%

Total

     4,072       100

%

For information for revenue by product and service, refer Note 17, “Revenue Recognition.”


2)     The table below shows the revenue attributed to the country of domicile (U.S.) and foreign countries. Revenue is generally attributed to the geographic location of customers: 


       

(in thousands)

  

Segments

  

Country

  

Fiscal 2021

($)

    

Percentage of

Total Revenue

(%)

  
                     

Asia

  

(1) India

     175       20

%
   

(2) Hong Kong

     -       -

%

America

  

U.S. and Colombia

     723       80

%

Total

     898       100

%

       

(in thousands)

  

Segments

  

Country

  

Fiscal 2020

($)

    

Percentage of

Total Revenue

(%)

  
                     

Asia

  

(1) India

     108       3

%
   

(2) Hong Kong

     3,553       87

%

America

  

U.S. and Colombia

     411       10

%

Total

     4,072       100

%

3) The table below shows the non-current assets other than financial instruments held in the country of domicile and foreign countries.


   

(in thousands)

  

Nature of Assets

  

USA

(Country of Domicile)

($)

    

Foreign Countries

(India, Hong Kong, and Colombia)

($)

    

Total as of March 31, 2021

($)

  

Intangible assets, net

     407       -       407  

Property, plant and equipment, net

     6,228       4,612       10,840  

Investments in unlisted securities

     -       12       12  

Claims and advances

     200       403       603  

Operating lease asset

     488       -       488  

Total non-current assets

     7,323       5,027       12,350  

   

(in thousands)

  

Nature of Assets

  

USA (Country of Domicile)

($)

    

Foreign Countries

(India Hong Kong and Colombia)

($)

    

Total as of March 31, 2020

($)

  

Intangible assets, net

     252       -       252  

Property, plant and equipment, net

     5,216       4,564       9,780  

Investments in unlisted securities

     -       11       11  

Claims and advances

     200       410       610  

Operating lease asset

     574       -       574  

Total non-current assets

     6,242       4,985       11,227