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FAIR VALUE OF FINANCIAL INSTRUMENTS
 12 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]

NOTE 15 – FAIR VALUE OF FINANCIAL INSTRUMENTS

 

As of March 31, 2024, the Company’s marketable securities consist of liquid funds, which have been classified as Level 1 of the fair value hierarchy because they have been valued using quoted prices in active markets. The Company’s cash and cash equivalents have also been classified as Level 1 on the same principle. Financial instruments are classified as current if they are expected to be liquidated within the next twelve months. The Company’s remaining investments have been classified as Level 3 instruments as there is little or no market data. Level 3 investments are valued using the cost method. For further information refer Note 7, “Investments in Non-Marketable Securities.”

 

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of March 31, 2024, and 2023, and indicates the fair value hierarchy of the valuation techniques the Company used to determine such fair value:

 

(in thousands)

As of March 31, 2024

 

Particular

  

Adjusted Cost

($)

    

Gain

($)

    

Loss

($)

    

Fair Value

($)

    

Cash &

Cash Equivalents

($)

    

Short Term

Investments

($)

  

Level 1

                                                

Cash

     912       -       -       912       912       -  

Money Market Fund

     -       -       -       -       -       -  

Debt Funds

     13       -       -       13       13       -  

Mutual Fund

     123       -       -       123       123       -  

Level 2

                                                

Certificates of Deposit

     150       -       -       150       150       -  

Level 3

     -       -       -       -       -       -  

TOTAL

     1,198       -       -       1,198       1,198       -  

 

As of March 31, 2023

 

Particular

  

Adjusted Cost

($)

    

Gain

($)

    

Loss

($)

    

Fair Value

($)

    

Cash &

Cash Equivalents

($)

    

Short Term

Investments

($)

  

Level 1

                                                

Cash

     1,156       -       -       1,156       1,156       -  

Money Market Fund

     2,000       -       -       2,000       2,000       -  

Debt Funds

     40       -       -       40       40       -  

Mutual Fund

     152       2       -       154       -       154  

Level 2

                                                

Certificates of Deposit

     -       -       -       -       -       -  

Level 3

     -       -       -       -       -       -  

TOTAL

     3,348       2       -       3,350       3,196       154