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INTANGIBLE ASSETS

6 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

	*(in thousands)*
	As of September 30, 2023 ($)			As of March 31, 2023 ($)
*Amortized intangible assets*
Patents		730			709
Other intangibles		34			34
Accumulated amortization		(144	)		(107	)
Total amortized intangible assets		620			636

*Other intangible assets*
Patents		561			534
Other intangibles		-			-
Total unamortized intangible assets		561			534
Total intangible assets		1,181			1,170

The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing of patent applications. It also includes acquisition costs related to domains and licenses.

The intangible with finite life is up to 20 years are amortized on straight-line basis, commencing from the date of grant or acquisition. The amortization expense in the three months ended September 30, 2023, and 2022, amounted to approximately $18 thousand and $14 thousand, respectively, whereas the amortization expense in the six months ended September 30, 2023, and 2022 amounted to approximately $36 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 September 30, 2023, there was no impairment.

Estimated annual amortization expense	*(in thousands)* *($)*
For the year ended 2025		80
For the year ended 2026		89
For the year ended 2027		97
For the year ended 2028		107
For the year ended 2029		118