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INVENTORY
 3 Months Ended
Jun. 30, 2022
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

NOTE 3 – INVENTORY

 

   

(in thousands)

  
   

As of

June 30, 2022

($)

    

As of

March 31, 2022

($)

  

Raw materials

     2,242       2,247  

Work-in-Progress

     628       584  

Finished goods

     752       717  

Total

     3,622       3,548  

 

Inventory in the form of work-in-progress as of June 30, 2022, comprises, but it is not limited to, various hemp-based extracts such as hemp crude oil, hemp distillate, and hemp isolate. Finished goods comprises, but it’s not limited to, hand sanitizers, gummies, lotions, and beverages, among others.

 

During the three months ended June 30, 2022, the Company wrote off approximately $73 thousand of inventory 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.