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SEGMENT INFORMATION
 12 Months Ended
Mar. 31, 2022
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 2022

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     37       9

%

Life Sciences segment

     359       91

%

Total

     397       100

%

 

   

(in thousands)

  

Segments

  

Fiscal 2021

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     175       20

%

Life Sciences segment

     723       80

%

Total

     898       100

%

 

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

 

2) The table below shows the 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 2022

($)

    

Percentage of

Total Revenue

(%)

  
                     

Asia

  

India

     68       17

%

America

  

U.S.

     329       83

%

Total

     397       100

%

 

       

(in thousands)

  

Segments

  

Country

  

Fiscal 2021

($)

    

Percentage of

Total Revenue

(%)

  
                     

Asia

  

India

     175       19.5

%

America

  

U.S.

     723       80.5

%

Total

     898       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

  

U.S.

(Country of Domicile)

($)

    

Foreign Countries

(India, Hong Kong, and Colombia)

($)

    

Total as of March 31, 2022

($)

  

Intangible assets, net

     436       481       917  

Property, plant and equipment, net

     4,978       4,441       9,419  

Investments in unlisted securities

     -       -       -  

Claims and advances

     550       387       937  

Operating lease asset

     396       54       450  

Total non-current assets

     6,360       5,363       11,723  

 

   

(in thousands)

  

Nature of Assets

  

U.S.

(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