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INVENTORY | 3 Months Ended
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Jun. 30, 2021
Inventory Disclosure [Abstract] |
Inventory Disclosure [Text Block] | NOTE 3 – INVENTORY
|  | (in thousands) |
|  | As of June 30, 2021 ($) |  |  | As of March 31, 2021 ($) |
Raw materials |  |  | 2,329 |  |  |  | 2,294 |
Work-in-Progress |  |  | 2,199 |  |  |  | 2,199 |
Finished goods |  |  | 948 |  |  |  | 985 |
Total |  |  | 5,476 |  |  |  | 5,478 |
Inventory in the form of work-in-progress as of June 30, 2021, is comprised of, but not limited to, various hemp-based extracts such as crude oil, hemp distillate, and hemp isolate. Inventory also includes cost related to growing crops like seeds, fertilizer, other raw materials, labor, farm related overheads and the depreciation of farming equipment, hand sanitizers, gummies, lotions, beverages, and personal protection equipment, among others. During the three months ended June 30, 2021, there was write down of inventory of approximately $60 thousand. Write downs are due to abnormal amounts of idle facility expense, freight, handling costs, scrap, and wasted material (spoilage). This charge was recorded in Selling, General and Administrative expenses. As previously reported, one of our vendors holding $1.74 million of our inventory had reported a theft at their facility. The vendor has filed an insurance claim. The Company moved the amount associated with the stolen inventory to Deposits and Advances. The Company continues to pursue the vendor for compensation.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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