XML 32 R20.htm IDEA: XBRL DOCUMENT v3.24.2.u1
SEGMENT INFORMATION
 3 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

NOTE 16 – SEGMENT INFORMATION

 

FASB ASC 280, “Segment Reporting,” establishes standards for reporting information about reportable segments. Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group (“CODM”), in deciding how to allocate resources and in assessing performance. The CODM evaluates revenues and gross profits based on product lines and routes to market. Based on our integration and Management strategies, we operate in two reportable segments, the (i) Infrastructure segment and (ii) Life Sciences segment.

 

The Company’s CODM is the Company’s Chief Executive Officer (“CEO”). The CEO reviews financial information presented on an operating segment basis for purposes of making operating decisions and assessing financial performance. Therefore, and before our Life Sciences segment started, the Company determined that it operated in a single operating and reportable segment. As of the date of this report and in preparation for the new and different source of revenue, the Company has determined that it operates in two operating and reportable segments, the (a) Infrastructure segment and (b) Life Sciences segment. The Company does not include intercompany transfers between segments for Management reporting purposes.

 

The following provides information required by ASC 280-10-50-38 “Entity-wide Information”:

 

 

1)

The table below shows revenue reported by segment:

 

   

(in thousands)

Three months ended June 30,

  
   

2024

($)		    

2023

($)		  

Infrastructure segment

     -       167  
                 

Life Sciences segment

                

Wellness and lifestyle

     21       44  

White labeling services

     251       344  

Total

    272       555  

 

For information on revenue by product and service, refer to Note 2, “Summary of Significant Accounting Policies”.

 

2) The table below shows the revenue attributed to the country of domicile (U.S.) and foreign countries. Revenue is generally attributed to the geographic location of customers:

 

       

(in thousands)

  

Segments

  

Country

  

Three months ended

June 30, 2024

($)

    

Percentage of

Total Revenue

($)

  
                     

Asia

  

India

     -       -  

America

  

U.S.

     272       100 %
   

Colombia

     -       -  

Total

     272       100 %

 

       

(in thousands)

  

Segments

  

Country

  

Three months ended

June 30, 2023

($)

    

Percentage of

Total Revenue

($)

  
                     

Asia

  

India

     167       30 %

America

  

U.S.

     388       70 %
   

Colombia

     -       - %

Total

     555       100 %

 

3) The table below shows the non-current assets other than financial instruments held in the country of domicile (U.S.) and foreign countries.

 

   

(in thousands)

  

Nature of assets

  

USA

(Country of Domicile)

($)

    

Foreign Countries

(India and Colombia)

($)

    

Total as of

June 30, 2024

($)

  

Intangible assets, net

     1,720       -       1,720  

Property, plant, and equipment, net

     3,519       67       3,586  

Claims and advances

     410       278       688  

Operating lease asset

     166       27       193  

Total non-current assets

     5,815       372       6,187  

 

   

(in thousands)

  

Nature of assets

  

USA

(Country of Domicile)

($)

    

Foreign Countries

(India and Colombia)

($)

    

Total as of

March 31, 2024

($)

  

Intangible assets, net

     1,616       -       1,616  

Property, plant, and equipment, net

     3,620       75       3,695  

Claims and advances

     410       278       688  

Operating lease asset

     193       5       198  

Total non-current assets

     5,839       358       6,197