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INTANGIBLE ASSETS

9 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

	*(in thousands)*
	As of December 31, 2023 ($)			As of March 31, 2023 ($)
*Amortized intangible assets*
Patents		735			709
Other intangibles		34			34
Accumulated amortization		(162	)		(107	)
Total amortized intangible assets		607			636

*Other intangible assets*
Patents		575			534
Other intangibles		-			-
Total unamortized intangible assets		575			534
Total intangible assets		1,182			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 December 31, 2023, and 2022, amounted to approximately $19 thousand and $14 thousand, respectively, whereas the amortization expense in the nine months ended December 31, 2023, and 2022 amounted to approximately $55 thousand and $38 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, 2023, there was no impairment.

Estimated annual amortization expense	*(in thousands)* *($)*
For the year ended 2025		81
For the year ended 2026		89
For the year ended 2027		98
For the year ended 2028		108
For the year ended 2029		119