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SEGMENT INFORMATION
 6 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

NOTE 16 – 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 assess 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 to make operating decisions and assess financial performance. Therefore, before our Life Sciences segment started, the Company 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:

 

Products and Services

 

   

(in thousands)

  

Segments

  

Six months ended

September 30, 2022

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     17       4

%

Life Sciences segment

     397       96

%

Total

     414       100

%

 

   

(in thousands)

  

Segments

  

Six months ended

September 30, 2021

($)

    

Percentage of

Total Revenue

(%)

  
                 

Infrastructure segment

     18       14

%

Life Sciences segment

     115       86

%

Total

     133       100

%

 

For information for revenue by product and service, refer Note 2, “Summary of Significant Accounting Policies”.

 

2) The table below shows the revenue 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

  

Six months ended

September 30, 2022

($)

    

Percentage of

Total Revenue

(%)

  
                     

America

  

U.S.

     397       96

%

Asia

  

India

     17       4

%

Total

     414       100

%

 

       

(in thousands)

  

Segments

  

Country

  

Six months ended

September 30, 2021

($)

    

Percentage of

Total Revenue

(%)

  
                     

America

  

U.S.

     111       85

%

Asia

  

India

     22       15

%

Total

     133       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

  

USA

(Country of Domicile)

($)

    

Foreign Countries

(India, Hong Kong, and Colombia)

($)

    

Total as of

September 30, 2022

($)

  

Intangible assets, net

     952       -       952  

Property, plant, and equipment, net

     4,307       4,163       8,470  

Claims and advances

     567       383       950  

Operating lease asset

     348       39       387  

Total non-current assets

     6,174       4,585       10,759  

 

   

(in thousands)

  

Nature of assets

  

USA

(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  

Claims and advances

     550       387       937  

Operating lease asset

     396       54       450  

Total non-current assets

     6,360       5,363       11,723