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FAIR VALUE OF FINANCIAL INSTRUMENTS
 6 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]

NOTE 15 – FAIR VALUE OF FINANCIAL INSTRUMENTS

 

As of September 30, 2025, the Company’s marketable securities consist of liquid funds, 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 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.

During the six months ended September 30, 2025, the Company invested approximately $25 thousand in a U.S.-listed digital assets through an ETP as part of its treasury diversification strategy. The digital assets ETP is a marketable security accounted for under ASC 321, Investments – Equity Securities, and measured at fair value using quoted prices in active markets (Level 1). Changes in fair value are recognized in other income (expense), net.

 

The Company does not directly hold cryptocurrencies, private tokens, or unlisted digital-asset instruments and is therefore not subject to the guidance in ASU 2023-08 (Crypto Assets, ASC 350-60). The investment is liquid, redeemable on a daily basis, and classified as a short-term investment because it is intended for liquidity management rather than long-term appreciation. As of September 30, 2025, the fair value of the digital assets through ETP was approximately $25 thousand.

 

The Company’s marketable-securities portfolio at September 30, 2025, consisted of money-market instruments, certificates of deposit, and the digital assets through ETP, all measured at fair value. The table below summarizes these holdings by fair-value hierarchy (in thousands):

 

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis as of September 30, 2025, and March 31, 2025, and indicates the fair value hierarchy of the valuation techniques the Company used to determine such fair value:

 

(in thousands)

As of September 30, 2025

 

Particular   Adjusted
Cost
($)		     Gain
($)		     Loss
($)		     Fair
Value
($)		     Cash &
Cash
Equivalents
($)		     Short
Term
Investments
($)		  
Level 1                                    
Cash     845       -           -       845       845       -  
Marketable Debt Funds     113       1       -       114       114       -  
Digital Assets     25       -       -       25       -       25  
Level 2                                                
Certificates of Deposit     142       4       -       146       146       -  
Level 3     -       -       -       -       -       -  
TOTAL     1,125       5       -       1,130       1,105       25  

 

As of March 31, 2025 

 

Particular   Adjusted
Cost
($)		     Gain
($)		     Loss
($)		     Fair
Value
($)		     Cash &
Cash
Equivalents
($)		     Short
Term
Investments
($)		  
Level 1                                    
Cash     368           -       -       368       368            -  
Marketable Debt Funds     -       -           -       -       -       -  
Marketable Securities     -       -       -       -       -       -  
Level 2                                                
Certificates of Deposit     37       -       -       37       37       -  
Level 3     -       -       -       -       -       -  
TOTAL     405       -       -       405       405       -