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INTANGIBLE ASSETS

3 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 – INTANGIBLE ASSETS

		*(in thousands)*
		As of June 30, 2024 ($)				As of March 31, 2024 ($)
*Amortized intangible assets*
Patents			837				836
Other intangibles			34				34
Accumulated amortization			(199	)			(181	)
Total amortized intangible assets			672				689

*Other intangible assets*
Patents			526				521
Software development cost			522				406
Total unamortized intangible assets			1,048				927
Total intangible assets			1,720				1,616

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 expense in the three months ended June 30, 2024, and 2023, amounted to approximately $20 thousand and $18 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 June 30, 2024, there was no impairment.

Estimated annual amortization expense		*(in thousands)* *($)*
For the year ended 2026			88
For the year ended 2027			97
For the year ended 2028			106
For the year ended 2029			117
For the year ended 2030			129