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INTANGIBLE ASSETS

9 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

*Amortized intangible assets*	*(in thousands)*
	As of December 31, 2021 ($)			As of March 31, 2021 ($)
Patents		286			220
Other intangibles		32			32
Accumulated amortization		(44	)		(26	)
Total amortized intangible assets		274			226

*Indefinite lived intangible assets*
Patents		152			181
Other intangibles		-			-
Total unamortized intangible assets		152			181
Total intangible assets		426			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 the three months ended December 31, 2021, and 2020, amounted to approximately $7 thousand and $4 thousand, respectively, whereas the amortization expense in the nine months ended December 31, 2021, and 2020, amounted to approximately $18 thousand and $10 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 December 31, 2021, there was no impairment.

Estimated amortization expense	*(in thousands)* *($)*
For the year ended 2022		22
For the year ended 2023		24
For the year ended 2024		27
For the year ended 2025		29
For the year ended 2026		32