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SEGMENT INFORMATION
 9 Months Ended
Dec. 31, 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

December 31,
2024

($)

  

(in thousands)

Three months ended

December 31,
2023

($)

  

(in thousands)

Nine months ended

December 31,
2024

($)

  

(in thousands)

Nine months ended

December 31,
2023

($)

 
Infrastructure segment   -    -    -    161 
                     
Life Sciences segment                    
Wellness and lifestyle   34    47    101    165 
White labeling services   223    157    841    724 
Total   257    204    941    1,050 

 

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

December 31, 2024

($)

  

Nine months ended

December 31, 2024

($)

 
            
Asia  India   
-
    
-
 
America  U.S.   257    939 
   Colombia   
-
    2 
Total      257    941 

 

      (in thousands) 
Segments  Country 

Three months ended

December 31, 2023

($)

  

Nine months ended

December 31, 2023

($)

 
            
Asia  India   
-
    161 
America  U.S.   204    889 
Total      204    1,050 

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

December 31, 2024

($)

 
Intangible assets, net   1,869    -    1,869 
Property, plant, and equipment, net   3,295    53    3,348 
Claims and advances   410    271    681 
Operating lease asset   109    20    129 
Total non-current assets   5,683    344    6,027 

 

   (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