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INTANGIBLE ASSETS

12 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

*Amortized intangible assets*	*(in thousands)*
	As of March 31, 2022 ($)			As of March 31, 2021 ($)
Patents		290			220
Other intangibles		32			32
Accumulated amortization		(51	)		(26	)
Total amortized intangible assets		271			226

*Other intangible assets*
Patents		646			181
Other intangibles		-			-
Total unamortized intangible assets		646			181
Total intangible assets		917			407

The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing 13 patents. It also includes acquisition costs related to domains, and licenses.

The amortization of patent and patent rights with finite life is up to 20 years, commencing from the date of grant or acquisition. The amortization expense in Fiscal 2022 and 2021, amounted to approximately $24 thousand and $16 thousand, respectively.

The Company regularly reviews its intangible assets to determine if any intangible asset is other-than-temporarily impaired, which would require the Company to record an impairment charge in the period and concluded that, as of March 31, 2022, there was no impairment.

Estimated amortization expense	*(in thousands)* *($)*
For the year ended 2023		26
For the year ended 2024		29
For the year ended 2025		32
For the year ended 2026		35
For the year ended 2027		38