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INVENTORY
 6 Months Ended
Sep. 30, 2022
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

NOTE 3 – INVENTORY

 

   

(in thousands)

  
   

As of

September 30, 2022

($)

    

As of

March 31, 2022

($)

  

Raw materials

     2,949       2,247  

Work-in-Progress

     -       584  

Finished goods

     801       717  

Total

     3,750       3,548  

 

Inventory in the form of work-in-progress is moved into raw materials as we process the hemp extracts into different hemp derivatives used in the production of finished goods. Finished goods comprise, but is not limited to, hand sanitizers, gummies, lotions, and beverages, among others.

 

During the six months ended September 30, 2022, the Company wrote off approximately $40 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.