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INTANGIBLE ASSETS

12 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

*Amortized intangible assets*	*(in thousands)*
	As of March 31, 2023 ($)			As of March 31, 2022 ($)
Patents		709			290
Other intangibles		34			32
Accumulated amortization		(107	)		(51	)
Total amortized intangible assets		636			271

*Unamortized intangible assets*
Patents		534			646
Other intangibles		-			-
Total unamortized intangible assets		534			646
Total intangible assets		1,170			917

The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing of forty-one (41) patent applications in different countries along with nine (9) granted 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 Fiscal 2023 and 2022 amounted to approximately $57 thousand and $24 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 March 31, 2023, there was no impairment.

Estimated amortization expense	*(in thousands)* *($)*
For the year ended 2024		62
For the year ended 2025		69
For the year ended 2026		75
For the year ended 2027		83
For the year ended 2028		91