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SEGMENT INFORMATION
 9 Months Ended
Dec. 31, 2020
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 Business 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

  

Nine months ended

December 31, 2020

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     119       15

%

Life Sciences segment

     698       85

%

Total

     817       100

%

   

(in thousands)

  

Segments

  

Nine months ended

December 31, 2019

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     3,659       91

%

Life Sciences segment

     384       9

%

Total

     4,043       100

%

For information for revenue by product and service, refer Note 2, “Summary of Significant Accounting Policies”.


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

 

Nine months ended

December 31, 2020

($)

 

 

Percentage of

Total Revenue

(%)

 

 

 

 

 

 

 

 

 

 

 

 

Asia

 

(1) India

 

 

119

      

15

%

 

 

(2) Hong Kong

 

 

-

      

-

%

North America

 

U.S.

 

 

698 

      

85

%

Total

 

 

817

      

100

%

 

 

 

 

(in thousands)

 

Segments

 

Country

 

Nine months ended

December 31, 2019

($)

 

 

Percentage of

Total Revenue

(%)

 

 

 

 

 

 

 

 

 

 

 

 

Asia

 

(1) India

 

 

106

      

3

%

 

 

(2) Hong Kong

 

 

3,553

      

88

%

North America

 

U.S.

 

 

384

      

9

%

Total

 

 

4,043

      

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

December 31, 2020

($)

  

Intangible assets, net

     384       -       384  

Property, plant and equipment, net

     6,298       4,670       10,968  

Non- marketable securities

     249       12       261  

Claims and advances

     200       419       619  

Operating lease asset

     510       -       510  

Total non-current assets

     7,641       5,101       12,742  

   

(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  

Non- marketable securities

     -       11       11  

Claims and advances

     200       410       610  

Operating lease asset

     574       -       574  

Total non-current assets

     6,242       4,985       11,227