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FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

NOTE 15 – FAIR VALUE OF FINANCIAL INSTRUMENTS

As of December 31, 2023, the Company’s investments may consist of money market funds, debt and equity funds, and other marketable securities, among others, 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 Certificates of Deposit are classified as Level 2 as they do not have regular market pricing, but their fair value can be determined based on other data values or market prices. 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.

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

(in thousands)

As of December 31, 2023

Particular		Adjusted Cost ($)				Gain ($)				Loss ($)				Fair Value ($)				Cash & Cash Equivalents ($)				Short Term Investments ($)
Level 1
Cash			676				-				-				676				676				-
Money Market Fund			432				-				-				432				432				-
Debt Funds			13				-				-				13				13				-
Mutual Fund			71				-				-				71				71				-
Level 2
Certificates of Deposit			186				-				-				186				186				-
Level 3			-				-				-				-				-				-
TOTAL			1,378				-				-				1,378				1,378				-

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

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- References

No definition available.

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- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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