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INTANGIBLE ASSETS

12 Months Ended

Mar. 31, 2024

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, 2024 ($)				As of March 31, 2023 ($)
Patents			836				709
Other intangibles			34				34
Accumulated amortization			(181	)			(107	)
Total amortized intangible assets			689				636

*Unamortized intangible assets*
Patents			521				534
Software development cost			406				-
Total unamortized intangible assets			927				534
Total intangible assets			1,616				1,170

The value of intangible assets includes the cost of acquiring patent rights, supporting data, and the expense associated with filing various patent applications in different countries along with 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 expenses in Fiscal 2024 and 2023 amounted to approximately $74 thousand and $57 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 conclude that, as of March 31, 2024, there was no impairment.

Estimated amortization expense		*(in thousands)* *($)*
For the year ended 2025			82
For the year ended 2026			90
For the year ended 2027			99
For the year ended 2028			109
For the year ended 2029			120