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INTANGIBLE ASSETS

9 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

	*(in thousands)*
	As of December 31, 2022 ($)			As of March 31, 2022 ($)
*Amortized intangible assets*
Patents		604			290
Other intangibles		32			32
Accumulated amortization		(90	)		(51	)
Total amortized intangible assets		546			271

*Unamortized intangible assets*
Patents		476			646
Other intangibles		-			-
Total unamortized intangible assets		476			646
Total intangible assets		1,022			917

The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing 16 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 December 31, 2022, and 2021 amounted to approximately $14 thousand and $7 thousand, respectively, whereas the amortization expense in the nine months ended December 31, 2022, and 2021 amounted to approximately $38 thousand and $18 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 December 31, 2022, there was no impairment.

Estimated amortization expense	*(in thousands)* *($)*
For the year ended 2024		57
For the year ended 2025		63
For the year ended 2026		69
For the year ended 2027		76
For the year ended 2028		84