2023 Q4 Form 10-Q Financial Statement
#000118518523001163 Filed on November 09, 2023
Income Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
Revenue | $204.0K | $291.0K |
YoY Change | -38.55% | 44.06% |
Cost Of Revenue | $71.00K | $117.0K |
YoY Change | -69.13% | 74.63% |
Gross Profit | $133.0K | $174.0K |
YoY Change | 30.39% | 28.89% |
Gross Profit Margin | 65.2% | 59.79% |
Selling, General & Admin | $2.228M | $1.397M |
YoY Change | 41.55% | -24.69% |
% of Gross Profit | 1675.19% | 802.87% |
Research & Development | $903.0K | $1.268M |
YoY Change | 12.03% | 65.1% |
% of Gross Profit | 678.95% | 728.74% |
Depreciation & Amortization | $140.0K | $140.0K |
YoY Change | -11.39% | -10.26% |
% of Gross Profit | 105.26% | 80.46% |
Operating Expenses | $3.131M | $2.665M |
YoY Change | 31.55% | 1.6% |
Operating Profit | -$2.998M | -$2.491M |
YoY Change | 31.61% | 0.12% |
Interest Expense | ||
YoY Change | ||
% of Operating Profit | ||
Other Income/Expense, Net | $32.00K | $40.00K |
YoY Change | 10.34% | -13.04% |
Pretax Income | -$5.589M | -$2.451M |
YoY Change | 148.51% | 0.37% |
Income Tax | $0.00 | $0.00 |
% Of Pretax Income | ||
Net Earnings | -$5.589M | -$2.451M |
YoY Change | 148.51% | 0.37% |
Net Earnings / Revenue | -2739.71% | -842.27% |
Basic Earnings Per Share | -$0.05 | |
Diluted Earnings Per Share | -$0.09 | -$0.05 |
COMMON SHARES | ||
Basic Shares Outstanding | 63.73M shares | 53.92M shares |
Diluted Shares Outstanding | 54.30M shares |
Balance Sheet
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.378M | $3.120M |
YoY Change | -72.62% | -54.23% |
Cash & Equivalents | $1.378M | $3.026M |
Short-Term Investments | $0.00 | $100.0K |
Other Short-Term Assets | $124.0K | $143.0K |
YoY Change | -18.95% | 0.0% |
Inventory | $1.925M | $2.636M |
Prepaid Expenses | ||
Receivables | $92.00K | $137.0K |
Other Receivables | $16.00K | $10.00K |
Total Short-Term Assets | $3.583M | $6.117M |
YoY Change | -61.7% | -45.38% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $5.268M | $7.947M |
YoY Change | -36.6% | -6.17% |
Goodwill | ||
YoY Change | ||
Intangibles | $1.182M | $1.181M |
YoY Change | 15.66% | 24.05% |
Long-Term Investments | ||
YoY Change | ||
Other Assets | $999.0K | $998.0K |
YoY Change | -2.82% | 5.05% |
Total Long-Term Assets | $7.676M | $10.39M |
YoY Change | -28.37% | -3.44% |
TOTAL ASSETS | ||
Total Short-Term Assets | $3.583M | $6.117M |
Total Long-Term Assets | $7.676M | $10.39M |
Total Assets | $11.26M | $16.51M |
YoY Change | -43.9% | -24.83% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $648.0K | $549.0K |
YoY Change | 39.06% | 20.39% |
Accrued Expenses | $1.288M | $1.557M |
YoY Change | 44.72% | 68.14% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $3.000K | $3.000K |
YoY Change | 0.0% | 0.0% |
Long-Term Debt Due | $3.000K | $0.00 |
YoY Change | 0.0% | -100.0% |
Total Short-Term Liabilities | $1.936M | $2.106M |
YoY Change | 42.77% | 52.39% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $138.0K | $139.0K |
YoY Change | -2.13% | -2.11% |
Other Long-Term Liabilities | $17.00K | $17.00K |
YoY Change | 13.33% | 13.33% |
Total Long-Term Liabilities | $270.0K | $302.0K |
YoY Change | -31.99% | -30.09% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.936M | $2.106M |
Total Long-Term Liabilities | $270.0K | $302.0K |
Total Liabilities | $2.206M | $2.408M |
YoY Change | 25.84% | 32.75% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | -$110.8M | -$105.2M |
YoY Change | 14.64% | 11.45% |
Common Stock | ||
YoY Change | ||
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $9.053M | $14.10M |
YoY Change | ||
Total Liabilities & Shareholders Equity | $11.26M | $16.51M |
YoY Change | -43.9% | -24.83% |
Cashflow Statement
Concept | 2023 Q4 | 2023 Q3 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | -$5.589M | -$2.451M |
YoY Change | 148.51% | 0.37% |
Depreciation, Depletion And Amortization | $140.0K | $140.0K |
YoY Change | -11.39% | -10.26% |
Cash From Operating Activities | -$1.583M | -$1.620M |
YoY Change | -3.94% | -3.91% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $90.00K | $50.00K |
YoY Change | 7.14% | -48.98% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $26.00K | $130.0K |
YoY Change | -61.19% | 54.76% |
Cash From Investing Activities | -$64.00K | $80.00K |
YoY Change | 276.47% | -56.04% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | ||
YoY Change | ||
Cash From Financing Activities | -3.000K | 2.860M |
YoY Change | 2703.92% | |
NET CHANGE | ||
Cash From Operating Activities | -1.583M | -1.620M |
Cash From Investing Activities | -64.00K | 80.00K |
Cash From Financing Activities | -3.000K | 2.860M |
Net Change In Cash | -1.650M | 1.320M |
YoY Change | -0.9% | -194.15% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$1.583M | -$1.620M |
Capital Expenditures | $90.00K | $50.00K |
Free Cash Flow | -$1.673M | -$1.670M |
YoY Change | -3.41% | -6.39% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
dei |
Document Type
DocumentType
|
10-Q | ||
dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | ||
dei |
Document Period End Date
DocumentPeriodEndDate
|
2023-09-30 | ||
dei |
Document Transition Report
DocumentTransitionReport
|
false | ||
dei |
Entity File Number
EntityFileNumber
|
001-32830 | ||
dei |
Entity Registrant Name
EntityRegistrantName
|
IGC PHARMA, INC. | ||
dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
MD | ||
dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
20-2760393 | ||
dei |
Entity Address Address Line1
EntityAddressAddressLine1
|
10224 Falls Road | ||
dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Potomac | ||
dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MD | ||
dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
20854 | ||
dei |
City Area Code
CityAreaCode
|
301 | ||
dei |
Local Phone Number
LocalPhoneNumber
|
983-0998 | ||
dei |
Security12b Title
Security12bTitle
|
Common Stock, par value $0.0001 per share | ||
dei |
Trading Symbol
TradingSymbol
|
IGC | ||
dei |
Security Exchange Name
SecurityExchangeName
|
NYSEAMER | ||
dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
dei |
Entity Interactive Data Current
EntityInteractiveDataCurrent
|
Yes | ||
dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
dei |
Entity Small Business
EntitySmallBusiness
|
true | ||
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Entity Emerging Growth Company
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|
false | ||
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Entity Shell Company
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Entity Common Stock Shares Outstanding
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Cash And Cash Equivalents At Carrying Value
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Accounts Receivable Net Current
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Short Term Investments
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Inventory Net
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Inventory Net
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Prepaid Expense And Other Assets Current
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Intangible Assets Net Excluding Goodwill
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Intangible Assets Net Excluding Goodwill
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Property Plant And Equipment Net
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Property Plant And Equipment Net
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|
-0.05 | |
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Earnings Per Share Basic Diluted
EarningsPerShareBasicDiluted
|
-0.05 | |
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Earnings Per Share Basic Diluted
EarningsPerShareBasicDiluted
|
-0.08 | ||
igc |
Earnings Per Share Basic Diluted
EarningsPerShareBasicDiluted
|
-0.1 | ||
CY2023Q3 | igc |
Weighted Average Number Of Share Outstanding Basic Diluted
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|
54301087 | shares |
CY2022Q3 | igc |
Weighted Average Number Of Share Outstanding Basic Diluted
WeightedAverageNumberOfShareOutstandingBasicDiluted
|
52194098 | shares |
igc |
Weighted Average Number Of Share Outstanding Basic Diluted
WeightedAverageNumberOfShareOutstandingBasicDiluted
|
53695912 | shares | |
igc |
Weighted Average Number Of Share Outstanding Basic Diluted
WeightedAverageNumberOfShareOutstandingBasicDiluted
|
52082096 | shares | |
CY2022Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
22040000 | usd |
CY2022Q3 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
624000 | usd |
CY2022Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
104000 | usd |
CY2022Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2442000 | usd |
CY2022Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-182000 | usd |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
20144000 | usd |
CY2023Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
13202000 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
550000 | usd |
CY2023Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2860000 | usd |
CY2023Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2451000 | usd |
CY2023Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-63000 | usd |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14098000 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23892000 | usd |
us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
1776000 | usd | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
104000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-5227000 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-401000 | usd | |
CY2022Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
20144000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14911000 | usd |
us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
907000 | usd | |
us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2860000 | usd | |
us-gaap |
Net Income Loss
NetIncomeLoss
|
-4526000 | usd | |
us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-54000 | usd | |
CY2023Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14098000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-4526000 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-5227000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
313000 | usd | |
us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
332000 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
907000 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1776000 | usd | |
us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
52000 | usd | |
us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
-45000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
30000 | usd | |
us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
65000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-15000 | usd | |
us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
202000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-76000 | usd | |
us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-534000 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-5000 | usd | |
us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
13000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
19000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-524000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
185000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
|
-535000 | usd | |
igc |
Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
|
-63000 | usd | |
igc |
Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
|
-63000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-61000 | usd | |
us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-66000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3086000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-3882000 | usd | |
us-gaap |
Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
|
55000 | usd | |
us-gaap |
Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
|
-277000 | usd | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
42000 | usd | |
us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd | |
us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
-128000 | usd | |
us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
193000 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
48000 | usd | |
us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
60000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
67000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
24000 | usd | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
2860000 | usd | |
us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
103000 | usd | |
us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-2000 | usd | |
us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-2000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2858000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
101000 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-9000 | usd | |
us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-80000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-170000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-3837000 | usd | |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3196000 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
10460000 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3026000 | usd |
CY2022Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6623000 | usd |
us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
907000 | usd | |
us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
1776000 | usd | |
us-gaap |
Nature Of Operations
NatureOfOperations
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>NOTE 1 </b>–<b> BUSINESS DESCRIPTION</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Overview</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">IGC Pharma is a clinical-stage pharmaceutical company developing novel therapies for Alzheimer’s disease and conditions related to the central nervous system. The company is pursuing five assets: IGC-AD1, TGR-63, LMP, IGC-1C, and IGC-M3, all of which target Alzheimer’s disease and are at various stages of development.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Our most clinically advanced investigational new drug for Alzheimer’s, IGC-AD1, has shown significant promise in preclinical studies. In Alzheimer’s cell lines, IGC-AD1 has demonstrated the potential to effectively suppress or ameliorate two key hallmarks of Alzheimer’s disease: plaques and tangles. In animal models, it has shown effectiveness in improving memory. Furthermore, in a Phase 1 multiple ascending dose (MAD) trial, it exhibited potential efficacy in reducing neuropsychiatric symptoms, including agitation, anxiety, and depression. IGC-AD1 is currently in a Phase 2B, multi-center, randomized, double-blind, placebo-controlled trial, specifically designed to address agitation in dementia from Alzheimer’s disease (clinicaltrials.gov, NCT05543681). This condition affects more than 10 million individuals in North America and Europe. The trial is being conducted at 10 sites in the US and Canada.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Our portfolio includes four other small molecule assets, each at distinct stages of development, all with a singular mission — to transform the landscape of Alzheimer's treatment. LMP targets neuroinflammation, Aβ plaques, and neurofibrillary tangles, TGR-63 targets Aβ plaque, where we seek to disrupt the progression of Alzheimer's disease. IGC-M3 targets the inhibition of Aβ plaque aggregation with the potential to create a profound impact on early-stage Alzheimer’s. IGC-1C targets tau and neurofibrillary tangles, IGC-1C represents a forward-thinking approach to Alzheimer's therapy.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Furthermore, IGC controls a total of 36 patent filings. IGC maintains a state-of-the-art manufacturing facility in Washington State, which is poised for potential use in a Phase 3 trial and commercialization of IGC-AD1. In Bogota, Colombia, we also operate an R&D laboratory and an internal Contract Research Organization (CRO) that provides clinical trial services. We are actively expanding our technological capabilities with a primary focus on Generative Artificial Intelligence (AI) to enhance various aspects of clinical trial operations and data analysis. Our Company is investing in and driving AI development with an immediate focus on clinical trial processes, and analysis. Our AI initiatives are centered on informing clinical trials, developing a methodology for early detection of Alzheimer’s, and investigating the interaction of pharmaceuticals with cannabinoids.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Collectively, these core assets and initiatives underscore our commitment to advancing the field of pharmaceuticals, delivering groundbreaking treatments, and creating lasting value for our investors. We remain steadfast in our pursuit of excellence and our mission to improve the lives of those affected by Alzheimer’s and related conditions.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: "Times New Roman"; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Our manufacturing facility is also utilized to produce women’s wellness products under the brand “Holief.” IGC Pharma is a Maryland corporation established in 2005 with a fiscal year ending on March 31, spanning a 52- or 53-week period. The company operates in two primary business segments: Life Sciences and Infrastructure.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Life Sciences Segment</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><i><span style="text-decoration:underline">Pharmaceutical</span></i>: Since 2014, the Company has focused primarily on the potential uses of phytocannabinoids, in combination with other compounds, to treat multiple diseases, such as Alzheimer’s disease. As a company engaged in the clinical-stage pharmaceutical industry, we focus our research and development efforts, subject to results of future clinical trials, on seeking pharmaceutical solutions that may a) alleviate neuropsychiatric symptoms such as agitation, anxiety, and depression associated with dementia in Alzheimer’s disease; and b) halt the onset, progression, or cure Alzheimer’s disease.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><i><span style="text-decoration:underline">Over-the-Counter Products</span></i>: We have created a women’s wellness brand, Holief™, available through online channels that are compliant with relevant federal, state, and local laws and regulations. Holief™ is an all-natural, non-GMO, vegan, line of over-the-counter (OTC) products aimed at treating menstrual cramps (dysmenorrhea) and premenstrual syndrome (PMS). The products are available online and through Amazon and other online channels. In addition, we white label our product formulations to other companies that market them under their brand.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"><i><span style="text-decoration:underline">Phase 2 Clinical Trial Update</span></i></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">In this document, we use the terms Phase 2 and Phase 2B interchangeably, though typically, a Phase 2 trial is divided into a Phase 2A and a Phase 2B trial. Phase 2A is designed to assess dosing requirements, while Phase 2B is intended to establish efficacy. Our company has started a Phase 2B protocol called “A Phase 2, Multi-Center, Double-Blind, Randomized, Placebo-controlled trial of the safety and efficacy of IGC-AD1 on agitation in participants with dementia due to Alzheimer’s disease.” The trial is powered at 146 Alzheimer’s patients, with half receiving a placebo, and is a superior, parallel-group study.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The primary end point is agitation in dementia due to Alzheimer’s disease, as rated by the Cohen-Mansfield Agitation Inventory (CMAI) over a six-week period. The Phase 2 trial will also look at eleven exploratory objectives, including changes in anxiety, changes in cognitive processes such as attention, orientation, language, and visual spatial skills as well as memory, changes in depression, delusions, hallucinations, euphoria/elation, apathy, disinhibition, irritability, aberrant motor behavior, sleep disorder, appetite, quality of life, and caregiver burden. In addition, the trial will evaluate the impact of CYP450 polymorphisms and specifically CYP2C9 on each of the NPS and assess any reductions in psychotropic drugs, among others. CYP2C9 ranks amongst the most important drug metabolizing enzymes in humans, as it breaks down over 100 drugs, including nonsteroidal anti-inflammatory drugs. We seek to understand how various versions of the enzyme act on IGC-AD1. Each participant will receive two doses of IGC-AD1 (b.i.d.) or two doses of placebo per day for six weeks.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Infrastructure Segment </b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company’s infrastructure business has been operating since 2008. It includes (i) execution of construction contracts and (ii) rental of heavy construction equipment.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Business Organization</b></p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">As of September 30, 2023, the Company had the following operating subsidiaries: Techni Bharathi Private Limited (TBL), IGCare LLC, Holi Hemp LLC, IGC Pharma LLC, SAN Holdings LLC, Sunday Seltzer LLC, Hamsa Biopharma India Pvt. Ltd., Colombia-based beneficially-owned subsidiary IGC Pharma SAS (formerly Hamsa Biopharma Colombia SAS) and IGC Pharma IP LLC. The Company’s fiscal year is the 52- or 53-week period that ends on March 31. The Company’s principal office is in Maryland. Additionally, the Company has offices in Washington state, Colombia, and India. The Company’s filings are available on www.sec.gov. IGC Pharma, Inc. was incorporated in 2005.</p> | ||
igc |
Going Concern Policy Policy Textblock
GoingConcernPolicyPolicyTextblock
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>Going Concern</b></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company assesses and determines its ability to continue as a going concern in accordance with the provisions of ASC Subtopic 205-40, “<i>Presentation of Financial Statements</i>—<i>Going Concern</i>”, which requires the Company to evaluate whether there are conditions or events that raise substantial doubt about its ability to continue as a going concern.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company is currently in a clinical trial stage and, thus, has not yet achieved profitability. The Company expects to continue to incur significant operating and net losses and negative cash flows from operations in the near future.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The Company estimates that its current cash and cash equivalents balance with working capital credit facility and equity investment is sufficient to support operations beyond the twelve months following the date these consolidated financial statements and footnotes were issued. These estimates are based on assumptions that may prove to be wrong, and the Company could use its available capital resources sooner than it currently expects.</p> | ||
CY2023Q3 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
137000 | usd |
CY2023Q3 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
12000 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
107000 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
17000 | usd |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
53695912 | shares | |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
52082096 | shares | |
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
54301087 | shares |
CY2022Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
52194098 | shares |
CY2023Q3 | us-gaap |
Revenues
Revenues
|
291000 | usd |
CY2022Q3 | us-gaap |
Revenues
Revenues
|
202000 | usd |
us-gaap |
Revenues
Revenues
|
846000 | usd | |
us-gaap |
Revenues
Revenues
|
414000 | usd | |
CY2023Q3 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2127000 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2100000 | usd |
CY2023Q3 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
11000 | usd |
CY2023Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
18000 | usd |
CY2023Q3 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
498000 | usd |
CY2023Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
533000 | usd |
CY2023Q3 | us-gaap |
Inventory Net
InventoryNet
|
2636000 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
2651000 | usd |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
3000 | usd | |
us-gaap |
Inventory Write Down
InventoryWriteDown
|
40000 | usd | |
CY2023Q3 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
62000 | usd |
CY2023Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
72000 | usd |
CY2023Q3 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
15000 | usd |
CY2023Q1 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
24000 | usd |
CY2023Q3 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
143000 | usd |
CY2023Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
262000 | usd |
CY2023Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
220000 | usd |
CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
358000 | usd |
CY2023Q3 | igc |
Statutory Advances
StatutoryAdvances
|
25000 | usd |
CY2023Q1 | igc |
Statutory Advances
StatutoryAdvances
|
25000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
144000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
107000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
620000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
636000 | usd |
CY2023Q3 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
561000 | usd |
CY2023Q1 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
534000 | usd |
CY2023Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1181000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1170000 | usd |
CY2023Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
18000 | usd |
CY2022Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
14000 | usd |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
36000 | usd | |
us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
24000 | usd | |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
80000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
89000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
97000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
107000 | usd |
CY2023Q3 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
118000 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10134000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10149000 | usd |
CY2023Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2187000 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1936000 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7947000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8213000 | usd |
CY2023Q3 | us-gaap |
Depreciation
Depreciation
|
140000 | usd |
CY2022Q3 | us-gaap |
Depreciation
Depreciation
|
156000 | usd |
us-gaap |
Depreciation
Depreciation
|
277000 | usd | |
us-gaap |
Depreciation
Depreciation
|
308000 | usd | |
CY2023Q3 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
26000 | usd |
CY2023Q1 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
27000 | usd |
CY2023Q3 | igc |
Other Advances
OtherAdvances
|
25000 | usd |
CY2023Q1 | igc |
Other Advances
OtherAdvances
|
25000 | usd |
CY2023Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
998000 | usd |
CY2023Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1003000 | usd |
us-gaap |
Payments For Deposits
PaymentsForDeposits
|
140000 | usd | |
CY2023Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
749000 | usd |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
619000 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
378000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
258000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
130000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
133000 | usd |
CY2023Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
300000 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
358000 | usd |
CY2023Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1557000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1368000 | usd |
CY2023Q3 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
37000 | usd |
CY2023Q1 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
31000 | usd |
CY2023Q3 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
3000 | usd |
CY2023Q1 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
3000 | usd |
CY2020Q2 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
150000 | usd |
CY2020Q2 | us-gaap |
Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
|
0.0375 | pure |
CY2020Q2 | us-gaap |
Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
|
731000 | usd |
CY2020Q2 | us-gaap |
Debt Instrument Term
DebtInstrumentTerm
|
P30Y | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
3000 | usd | |
us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
2000 | usd | |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2000 | usd | |
CY2023Q3 | us-gaap |
Long Term Loans Payable
LongTermLoansPayable
|
139000 | usd |
CY2023Q3 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
3000 | usd |
CY2023Q2 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
12000000 | usd |
CY2023Q2 | us-gaap |
Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
|
0.01 | pure |
CY2023Q3 | us-gaap |
Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
|
12000000 | usd |
CY2023Q3 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
17000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
21000 | usd |
CY2023Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
17000 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
21000 | usd |
us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
0.06 | pure | |
CY2023Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
CY2023Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
63706939 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q3 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2023Q3 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
igc |
Units Outstanding
UnitsOutstanding
|
91472 | shares | |
igc |
Unit Description
UnitDescription
|
Ten units may be separated into one share of common stock. | ||
CY2018Q4 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
1200000 | shares |
CY2018Q4 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
888000 | usd |
CY2018Q4 | us-gaap |
Investment Owned At Fair Value
InvestmentOwnedAtFairValue
|
773000 | usd |
CY2018Q4 | igc |
Shares Returned
SharesReturned
|
500000 | shares |
CY2023Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2023Q4 | igc |
Sales Agreement Maximum
SalesAgreementMaximum
|
60000000 | usd |
CY2023Q3 | us-gaap |
Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
|
5700000 | shares |
igc |
Weighted Average Price Per Share
WeightedAveragePricePerShare
|
0.64 | ||
us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
4700000 | shares | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | ||
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
|
1 | pure | |
CY2023 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
|
1 | pure |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0349 | pure | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0264 | pure |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
2.80 | pure | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
2.85 | pure |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
4429000 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
1.01 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
4300000 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.26 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
197000 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
|
0.3 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
|
0 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
|
0 | ||
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
8532000 | shares |
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.65 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
150000 | shares |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
1.39 | ||
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.3 | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares | |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | ||
us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares | |
igc |
Exercised Weighted Average Grant Date Fair Value
ExercisedWeightedAverageGrantDateFairValue
|
0 | ||
us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
0 | shares | |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
|
0 | ||
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0 | ||
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
150000 | shares |
us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
|
1.39 | ||
CY2023Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.3 | |
CY2023Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
2700000 | usd |
us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P5Y | ||
us-gaap |
Assets Fair Value Adjustment
AssetsFairValueAdjustment
|
3109000 | usd | |
us-gaap |
Fair Value Asset Liability Recurring Basis Still Held Unrealized Gain Loss
FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLoss
|
16000 | usd | |
us-gaap |
Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
|
0 | usd | |
CY2023Q3 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
3124000 | usd |
CY2023Q3 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
3026000 | usd |
CY2023Q3 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
98000 | usd |
CY2023 | us-gaap |
Assets Fair Value Adjustment
AssetsFairValueAdjustment
|
3348000 | usd |
CY2023 | us-gaap |
Fair Value Asset Liability Recurring Basis Still Held Unrealized Gain Loss
FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLoss
|
2000 | usd |
CY2023 | us-gaap |
Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
|
0 | usd |
CY2023Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
3350000 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
3196000 | usd |
CY2023Q1 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
154000 | usd |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | pure | |
us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | pure | |
CY2023Q3 | us-gaap |
Revenues
Revenues
|
291000 | usd |
CY2022Q3 | us-gaap |
Revenues
Revenues
|
202000 | usd |
us-gaap |
Revenues
Revenues
|
846000 | usd | |
us-gaap |
Revenues
Revenues
|
414000 | usd | |
CY2023Q3 | us-gaap |
Revenues
Revenues
|
291000 | usd |
us-gaap |
Revenues
Revenues
|
846000 | usd | |
CY2022Q3 | us-gaap |
Revenues
Revenues
|
202000 | usd |
us-gaap |
Revenues
Revenues
|
414000 | usd | |
CY2023Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1181000 | usd |
CY2023Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
7947000 | usd |
CY2023Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
998000 | usd |
CY2023Q3 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
263000 | usd |
CY2023Q3 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
10389000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1170000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8213000 | usd |
CY2023Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1003000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
326000 | usd |
CY2023Q1 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
10712000 | usd |
dei |
Amendment Flag
AmendmentFlag
|
false | ||
dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--03-31 | ||
dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q2 | ||
dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2024 | ||
dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001326205 |