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INTANGIBLE ASSETS

6 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

	*(in thousands)*
	As of September 30, 2022 ($)			As of March 31, 2022 ($)
*Amortized intangible assets*
Patents		572			290
Other intangibles		32			32
Accumulated amortization		(75	)		(51	)
Total amortized intangible assets		529			271

*Unamortized intangible assets*
Patents		423			646
Other intangibles		-			-
Total unamortized intangible assets		423			646
Total intangible assets		952			917

The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing 15 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. Accordingly, the amortization expense in the three months ended September 30, 2022, and 2021 amounted to approximately $14 thousand and $6 thousand, respectively, whereas the amortization expense in the six months ended September 30, 2022, and 2021 amounted to approximately $24 thousand and $11 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 September 30, 2022, there was no impairment.

Estimated amortization expense	*(in thousands)* *($)*
For the year ended 2024		53
For the year ended 2025		58
For the year ended 2026		64
For the year ended 2027		70
For the year ended 2028		77