2024 Q2 Form 10-K Financial Statement
#000118518524000650 Filed on June 24, 2024
Income Statement
Concept | 2024 Q2 | 2024 Q1 | 2024 |
---|---|---|---|
Revenue | $272.0K | $295.0K | $1.345M |
YoY Change | -50.99% | 77.71% | 47.64% |
Cost Of Revenue | $109.0K | $124.0K | $612.0K |
YoY Change | -63.67% | 20.39% | 30.49% |
Gross Profit | $163.0K | $171.0K | $733.0K |
YoY Change | -36.08% | 171.43% | 65.84% |
Gross Profit Margin | 59.93% | 57.97% | 54.5% |
Selling, General & Admin | $1.670M | $1.232M | $6.758M |
YoY Change | 1.4% | -61.89% | -17.34% |
% of Gross Profit | 1024.54% | 720.47% | 921.96% |
Research & Development | $889.0K | $855.0K | $3.800M |
YoY Change | 19.01% | 73.43% | 9.79% |
% of Gross Profit | 545.4% | 500.0% | 518.42% |
Depreciation & Amortization | $162.0K | $164.0K | $637.0K |
YoY Change | 4.52% | 7.19% | -3.04% |
% of Gross Profit | 99.39% | 95.91% | 86.9% |
Operating Expenses | $2.559M | $2.087M | $10.56M |
YoY Change | 6.89% | -43.99% | -9.27% |
Operating Profit | -$2.396M | -$1.916M | -$9.798M |
YoY Change | 12.01% | -47.69% | -12.48% |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $18.00K | $7.000K | $143.0K |
YoY Change | -71.88% | -22.22% | 120.0% |
Pretax Income | -$2.378M | -$2.885M | -$13.00M |
YoY Change | 14.6% | -28.41% | 12.98% |
Income Tax | $0.00 | $0.00 | |
% Of Pretax Income | |||
Net Earnings | -$2.378M | -$2.885M | -$13.00M |
YoY Change | 14.6% | -28.41% | 12.98% |
Net Earnings / Revenue | -874.26% | -977.97% | -966.54% |
Basic Earnings Per Share | |||
Diluted Earnings Per Share | -$0.03 | -$0.04 | -$0.22 |
COMMON SHARES | |||
Basic Shares Outstanding | 75.64M shares | 63.73M shares | 58.84M shares |
Diluted Shares Outstanding |
Balance Sheet
Concept | 2024 Q2 | 2024 Q1 | 2024 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.824M | $1.198M | $1.198M |
YoY Change | -6.46% | -64.24% | -64.24% |
Cash & Equivalents | $1.824M | $1.200M | $1.198M |
Short-Term Investments | $0.00 | $0.00 | |
Other Short-Term Assets | $240.0K | $115.0K | $876.0K |
YoY Change | 24.35% | -65.57% | 162.28% |
Inventory | $1.510M | $1.540M | $1.540M |
Prepaid Expenses | |||
Receivables | $28.00K | $39.00K | $39.00K |
Other Receivables | $51.00K | $52.00K | $52.00K |
Total Short-Term Assets | $4.407M | $3.705M | $3.705M |
YoY Change | -13.21% | -42.7% | -42.7% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $3.586M | $3.695M | $3.893M |
YoY Change | -55.75% | -56.73% | -54.41% |
Goodwill | |||
YoY Change | |||
Intangibles | $1.720M | $1.616M | |
YoY Change | 45.89% | 38.12% | |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $688.0K | $688.0K | $688.0K |
YoY Change | -32.35% | -31.41% | -31.41% |
Total Long-Term Assets | $6.187M | $6.197M | $6.197M |
YoY Change | -41.6% | -42.15% | -42.15% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.407M | $3.705M | $3.705M |
Total Long-Term Assets | $6.187M | $6.197M | $6.197M |
Total Assets | $10.59M | $9.902M | $9.902M |
YoY Change | -32.41% | -42.36% | -42.36% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $771.0K | $773.0K | $773.0K |
YoY Change | 14.73% | 45.85% | 45.85% |
Accrued Expenses | $1.718M | $1.567M | $940.0K |
YoY Change | 17.75% | 108.38% | 25.0% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $3.000K | $3.000K | $0.00 |
YoY Change | 0.0% | ||
Long-Term Debt Due | $3.000K | $3.000K | $3.000K |
YoY Change | 0.0% | 0.0% | 0.0% |
Total Short-Term Liabilities | $2.489M | $2.340M | $2.340M |
YoY Change | 16.8% | 23.29% | 23.29% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $136.0K | $137.0K | $137.0K |
YoY Change | -2.86% | -2.84% | -2.84% |
Other Long-Term Liabilities | $20.00K | $20.00K | $104.0K |
YoY Change | -4.76% | -91.23% | -54.39% |
Total Long-Term Liabilities | $225.0K | $241.0K | $241.0K |
YoY Change | -33.82% | -34.69% | -34.69% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.489M | $2.340M | $2.340M |
Total Long-Term Liabilities | $225.0K | $241.0K | $241.0K |
Total Liabilities | $2.714M | $2.581M | $2.581M |
YoY Change | 9.83% | 13.85% | 13.85% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$116.0M | -$113.7M | |
YoY Change | 12.95% | 12.91% | |
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $7.880M | $7.321M | $7.321M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $10.59M | $9.902M | $9.902M |
YoY Change | -32.41% | -42.36% | -42.36% |
Cashflow Statement
Concept | 2024 Q2 | 2024 Q1 | 2024 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$2.378M | -$2.885M | -$13.00M |
YoY Change | 14.6% | -28.41% | 12.98% |
Depreciation, Depletion And Amortization | $162.0K | $164.0K | $637.0K |
YoY Change | 4.52% | 7.19% | -3.04% |
Cash From Operating Activities | -$1.752M | -$526.0K | -$5.199M |
YoY Change | 19.35% | -65.33% | -26.22% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $38.00K | $325.0K | $138.0K |
YoY Change | 90.0% | -31.58% | -77.71% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $2.000K | $198.0K |
YoY Change | -100.0% | -99.14% | -48.44% |
Cash From Investing Activities | -$131.0K | -$323.0K | -$317.0K |
YoY Change | 2520.0% | 33.47% | 34.89% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | $3.027M | ||
YoY Change | 2838.83% | ||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $2.507M | 667.0K | $3.524M |
YoY Change | -250800.0% | -66800.0% | 3424.0% |
NET CHANGE | |||
Cash From Operating Activities | -$1.752M | -526.0K | -$5.199M |
Cash From Investing Activities | -$131.0K | -323.0K | -$317.0K |
Cash From Financing Activities | $2.507M | 667.0K | $3.524M |
Net Change In Cash | $626.0K | -182.0K | -$1.998M |
YoY Change | -142.5% | -89.66% | -72.18% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.752M | -$526.0K | -$5.199M |
Capital Expenditures | $38.00K | $325.0K | $138.0K |
Free Cash Flow | -$1.790M | -$851.0K | -$5.337M |
YoY Change | 20.3% | -57.28% | -30.38% |
Facts In Submission
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Other Receivables
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2024-03-31 | |
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IGC PHARMA, INC. | |
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10224 Falls Road | |
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Potomac | |
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|
-0.22 | |
CY2023 | igc |
Earnings Per Share Basic Diluted
EarningsPerShareBasicDiluted
|
-0.22 | |
CY2024 | igc |
Weighted Average Number Of Share Outstanding Basic Diluted
WeightedAverageNumberOfShareOutstandingBasicDiluted
|
58839868 | shares |
CY2023 | igc |
Weighted Average Number Of Share Outstanding Basic Diluted
WeightedAverageNumberOfShareOutstandingBasicDiluted
|
52576258 | shares |
CY2022Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
23892000 | usd |
CY2023 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
2843000 | usd |
CY2023 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
103000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-11506000 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-421000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14911000 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
14911000 | usd |
CY2024 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
1917000 | usd |
CY2024 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3027000 | usd |
CY2024 | us-gaap |
Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
|
500000 | usd |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13000000 | usd |
CY2024 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-34000 | usd |
CY2024Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7321000 | usd |
CY2024 | us-gaap |
Profit Loss
ProfitLoss
|
-13000000 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
-11506000 | usd |
CY2024 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
637000 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
657000 | usd |
CY2024 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
93000 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
126000 | usd |
CY2024 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
3448000 | usd |
CY2023 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
0 | usd |
CY2024 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1773000 | usd |
CY2023 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2843000 | usd |
CY2024 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
44000 | usd |
CY2023 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-39000 | usd |
CY2024 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
25000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-5000 | usd |
CY2024 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-1008000 | usd |
CY2023 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-897000 | usd |
CY2024 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-150000 | usd |
CY2023 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-591000 | usd |
CY2024 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-315000 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
150000 | usd |
CY2024 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
243000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-451000 | usd |
CY2024 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
197000 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-88000 | usd |
CY2024 | igc |
Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
|
-129000 | usd |
CY2023 | igc |
Increase Decrease In Operating Lease Assets
IncreaseDecreaseInOperatingLeaseAssets
|
-124000 | usd |
CY2024 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-123000 | usd |
CY2023 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-134000 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-5199000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-7047000 | usd |
CY2024 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
138000 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
310000 | usd |
CY2024 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
44000 | usd |
CY2023 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
538000 | usd |
CY2024 | us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
-154000 | usd |
CY2023 | us-gaap |
Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
|
154000 | usd |
CY2024 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
377000 | usd |
CY2023 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
309000 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-317000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-235000 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
3027000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
103000 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
500000 | usd |
CY2023 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
0 | usd |
CY2024 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-3000 | usd |
CY2023 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-3000 | usd |
CY2024 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
3524000 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
100000 | usd |
CY2024 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-6000 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-82000 | usd |
CY2024 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1998000 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-7264000 | 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 |
CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1198000 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
3196000 | usd |
CY2024 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
1773000 | usd |
CY2023 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
2843000 | usd |
CY2024 | 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> NATURE OF OPERATIONS </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;margin:0pt;text-indent:36pt;">IGC Pharma is on a mission to transform Alzheimer’s treatment. We are building a robust pipeline of five drug candidates, each targeting different aspects of the disease.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;text-indent:36pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td> <td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>IGC-AD1</b>: Our lead investigational drug tackles agitation, a major burden for patients and caregivers. By addressing neuroinflammation, it offers a faster-acting solution compared to traditional medications.</p> </td> </tr> </table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td> <td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>TGR-63</b>: Through pre-clinical studies, TGR-63 has demonstrated its potential to disrupt the progression of Alzheimer’s by targeting Aβ plaques, a key disease hallmark.</p> </td> </tr> </table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td> <td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>IGC-1C</b>: At the preclinical stage, IGC-1C represents a potential breakthrough by targeting tau protein and neurofibrillary tangles, aiming to modify the disease course.</p> </td> </tr> </table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td> <td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>IGC-M3</b>: Also in preclinical development, IGC-M3 focuses on early intervention by inhibiting Aβ plaque formation, potentially slowing cognitive decline.</p> </td> </tr> </table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <table border="0" cellpadding="0" cellspacing="0" style="width:100%;font-family:Times New Roman;font-size:10pt;"> <tr> <td style="width:18pt;"> </td> <td style="vertical-align:top;width:18pt;"> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">●</p> </td> <td style="vertical-align:top;"> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>LMP</b>: In preclinical development, LMP is designed to target multiple hallmarks of Alzheimer’s disease, including Aβ plaques and neurofibrillary tangles for a comprehensive therapeutic effect.</p> </td> </tr> </table> <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;">We are also harnessing the power of Artificial Intelligence (“AI”) to develop early detection models, optimize clinical trials, and explore new applications for our drugs including for IGC-AD1. Additionally, our 28 patent filings, including for IGC-AD1, demonstrates our commitment to innovation and protecting our intellectual property.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">As of March 31, 2024, the Company had the following operating subsidiaries: Techni Bharathi Private Limited (TBL), IGCare LLC, HH Processors, LLC, IGC Pharma, LLC, SAN Holdings, LLC, Sunday Seltzer, LLC, Hamsa Biopharma India Pvt. Ltd. And Colombia-based beneficially-owned subsidiary IGC Pharma SAS. The Company’s fiscal year is the 52- or 53-week period that ends on March 31. The Company’ principal office is in Maryland established in 2005. Additionally, the Company has offices in Washington state, Colombia, South America, and India. The Company’s filings are available on www.sec.gov.</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;">IGC has two segments: Life Sciences Segment and Infrastructure Segment.</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><i>Life Sciences Segment</i></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, a clinical-stage company developing treatments for Alzheimer's disease, is committed to transforming patient care by offering faster-acting and more effective solutions. Our lead drug, IGC-AD1, embodies this vision by tackling a critical challenge – managing agitation in Alzheimer's dementia. Early results from our Phase 2 trial are promising: IGC-AD1 effectively reduced agitation in patients compared to a placebo, and crucially, it did so much faster than traditional medications. While existing anti-psychotics can take a long 6 to 12 weeks to show effects, IGC-AD1 has the potential to act within two weeks. This significantly faster onset of action could significantly improve patient care and represents a potential breakthrough in managing Alzheimer's-related agitation. In addition, we have created in-house wellness brands, available through online channels that are compliant with relevant federal, state, and local laws and regulations. We derive revenue from our in-house wellness non-pharmaceutical formulations that are manufactured as non-GMO, vegan, products at our facility and are sold over-the-counter (“OTC”).</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><i>Infrastructure Segment</i></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> | |
CY2024 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>b) Use of estimates</b></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. (U.S. GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Management believes that the estimates and assumptions used in the preparation of the consolidated financial statements are prudent and reasonable. Significant estimates and assumptions are generally used for, but not limited to, allowance for uncollectible accounts receivable; sales returns; normal loss during production; future obligations under employee benefit plans; the useful lives of property, plant, and equipment; intangible assets; valuations; impairment of goodwill and investments; recoverability of advances; the valuation of options granted, and warrants issued; and income tax and deferred tax valuation allowances, if any. Actual results could differ from those estimates. Appropriate changes in estimates are made as management becomes aware of changes in circumstances surrounding the estimates. Critical accounting estimates could change from period to period and could have a material impact on IGC’s results, operations, financial position, and cash flows. Changes in estimates are reflected in the financial statements in the period in which changes are made, and if material, their effects are disclosed in the notes to the consolidated financial statements.</p> | |
CY2024 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
58839868 | shares |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
52576258 | shares |
CY2023Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
358000 | usd |
CY2024 | 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>f) 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;">For the years ended March 31, 2024, and March 31, 2023, the Company incurred net losses of $13 million and $11.5 million, respectively. As of March 31, 2024, the Company’s cash and cash equivalents totaled $1.2 million. On June 30, 2023, the Company successfully obtained a working capital facility totaling approximately $12 million for one year, and the Company is in the process of renewing the facility for another year during the month of June 2024. In addition, on March 22, 2024, the Company entered into a share purchase agreement relating to the sale and issuance by our company to the investors of an aggregate of approximately 8.8 million shares of our common stock, for a total purchase price of $3 million or $0.34 per share, subject to the terms and subject to the conditions set forth in the 2024 SPA. As of March 31, 2024, the Company received $500 thousand, and the remaining $2.5 million was received in April 2024. The equity and the credit facility serve to minimize ongoing liquidity requirements and ensure the Company’s ability to sustain its operations. Furthermore, the Company intends to raise additional funds through private placement and ATM offerings, subject to market conditions. Please refer to Note 19, “Subsequent Event,” for further information.</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 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> | |
CY2024 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13000000 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-11500000 | usd |
CY2023Q2 | us-gaap |
Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
|
12000000 | usd |
CY2024Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
3000000 | usd |
CY2024 | us-gaap |
Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
|
500000 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
39000 | usd |
CY2024Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
24000 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
107000 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
17000 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1200000 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3200000 | usd |
CY2024 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>m) Concentration of credit risk and significant customers</b></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:36pt;">Financial instruments, which potentially expose the Company to concentrations of credit risk, are primarily comprised of cash and cash equivalents, investments, accounts receivable, and unbilled accounts receivable, if any. The Company places its cash investments in highly rated financial institutions. The Company adheres to a formal investment policy with the primary objective of preservation of principal, which contains credit rating minimums and diversification requirements. Management believes its credit policies reflect normal industry terms and business risk. The Company does not anticipate non-performance by the counterparties and, accordingly, does not require collateral. During Fiscal 2024, sales were spread across customers in Asia and U.S., and the credit concentration risk is low.</p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> | |
CY2024Q1 | igc |
Statutory Advances
StatutoryAdvances
|
39000 | usd |
CY2023Q1 | igc |
Statutory Advances
StatutoryAdvances
|
25000 | usd |
CY2024 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3800000 | usd |
CY2023 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3500000 | usd |
CY2023Q1 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
24000 | usd |
CY2024Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
115000 | usd |
CY2023Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
262000 | usd |
CY2024Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
208000 | usd |
CY2024Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1099000 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
2100000 | usd |
CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
0 | usd |
CY2023Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
18000 | usd |
CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
441000 | usd |
CY2023Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
533000 | usd |
CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
1540000 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
2651000 | usd |
CY2024 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
1000000 | usd |
CY2023 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
376000 | usd |
CY2024Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
41000 | usd |
CY2023Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
72000 | usd |
CY2024Q1 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
52000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
181000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
107000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
689000 | usd |
CY2023Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
636000 | usd |
CY2024Q1 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
927000 | usd |
CY2023Q1 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
534000 | usd |
CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1616000 | usd |
CY2023Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1170000 | usd |
CY2024 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
74000 | usd |
CY2023 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
57000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
82000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
90000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
99000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
109000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
120000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6137000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
10149000 | usd |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2442000 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1936000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3695000 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
8213000 | usd |
CY2024 | us-gaap |
Depreciation
Depreciation
|
563000 | usd |
CY2023 | us-gaap |
Depreciation
Depreciation
|
417000 | usd |
CY2024Q1 | us-gaap |
Land
Land
|
720000 | usd |
CY2023Q1 | us-gaap |
Land
Land
|
4100000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
132000 | usd |
CY2024Q1 | us-gaap |
Other Receivables
OtherReceivables
|
686000 | usd |
CY2024Q1 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
2000 | usd |
CY2023Q1 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
27000 | usd |
CY2024Q1 | igc |
Other Advances
OtherAdvances
|
0 | usd |
CY2023Q1 | igc |
Other Advances
OtherAdvances
|
25000 | usd |
CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
688000 | usd |
CY2023Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
1003000 | usd |
CY2024 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
100000 | usd |
CY2023 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
178000 | usd |
CY2024 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
141000 | usd |
CY2023 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
148000 | usd |
CY2024 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
100000 | usd |
CY2023 | us-gaap |
Short Term Lease Cost
ShortTermLeaseCost
|
178000 | usd |
CY2024 | us-gaap |
Lease Cost
LeaseCost
|
241000 | usd |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
326000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
198000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
326000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
198000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
326000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
84000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
207000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
208000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
340000 | usd |
CY2024 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
140000 | usd |
CY2023 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
118000 | usd |
CY2024 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
198000 | usd |
CY2023 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
326000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
87000 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
0 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
0 | usd |
CY2024Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
11000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
208000 | usd |
CY2024Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
816000 | usd |
CY2023Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
619000 | usd |
CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
208000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
258000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
124000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
133000 | usd |
CY2024Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
419000 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
358000 | usd |
CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1567000 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1368000 | usd |
CY2024Q1 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
25000 | usd |
CY2023Q1 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
31000 | usd |
CY2024Q1 | 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 | |
CY2024 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
5000 | usd |
CY2024 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
3000 | usd |
CY2024Q1 | us-gaap |
Long Term Loans Payable
LongTermLoansPayable
|
137000 | usd |
CY2024Q1 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
3000 | usd |
CY2024Q1 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
20000 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
21000 | usd |
CY2024Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
20000 | usd |
CY2023Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
21000 | usd |
CY2024 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
0.06 | pure |
CY2024Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
CY2024Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
66691195 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2024Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2024 | igc |
Units Outstanding
UnitsOutstanding
|
91472 | shares |
CY2024 | igc |
Unit Description
UnitDescription
|
Ten units may be separated into one share of common stock. | |
CY2021Q1 | igc |
Sales Agreement Maximum
SalesAgreementMaximum
|
60000000 | usd |
CY2024Q1 | us-gaap |
Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
|
7600000 | shares |
CY2024 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4600000 | usd |
CY2024 | igc |
Weighted Average Price Per Share
WeightedAveragePricePerShare
|
0.61 | |
CY2024 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
4900000 | shares |
CY2024 | igc |
Exercised Weighted Average Grant Date Fair Value
ExercisedWeightedAverageGrantDateFairValue
|
0 | |
CY2024 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
0 | shares |
CY2024 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
|
0 | |
CY2024 | 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 | |
CY2024 | 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 |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0524 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0242 | pure |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.75 | pure |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
2.82 | 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 | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
5848000 | shares |
CY2024 | 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
|
0.28 | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
2535000 | shares |
CY2024 | 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
|
0.58 | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
|
290000 | shares |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
|
0.31 | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
7452000 | shares |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.61 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
150000 | shares |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.46 | |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.39 | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
3560000 | shares |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0.24 | |
CY2024 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.27 | |
CY2024 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3710000 | shares |
CY2024Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.25 | |
CY2024Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.29 | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P5Y | |
CY2024 | us-gaap |
Assets Fair Value Adjustment
AssetsFairValueAdjustment
|
1198000 | usd |
CY2024 | us-gaap |
Fair Value Asset Liability Recurring Basis Still Held Unrealized Gain Loss
FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLoss
|
0 | usd |
CY2024 | us-gaap |
Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
|
0 | usd |
CY2024Q1 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
1198000 | usd |
CY2024Q1 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
1198000 | usd |
CY2024Q1 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
0 | 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 |
CY2024 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-13000000 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-11506000 | usd |
CY2024 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.21 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.21 | pure |
CY2024 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-2730000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
|
-2416000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Tax Credits Foreign
IncomeTaxReconciliationTaxCreditsForeign
|
151000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Tax Credits Foreign
IncomeTaxReconciliationTaxCreditsForeign
|
7000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
1475000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Change In Enacted Tax Rate
IncomeTaxReconciliationChangeInEnactedTaxRate
|
-667000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
0 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
|
88000 | usd |
CY2024 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
1406000 | usd |
CY2023 | us-gaap |
Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
|
3002000 | usd |
CY2024 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2024 | igc |
Total Revenue Percentage
TotalRevenuePercentage
|
1 | pure |
CY2023 | us-gaap |
Revenues
Revenues
|
911000 | usd |
CY2023 | igc |
Total Revenue Percentage
TotalRevenuePercentage
|
1 | pure |
CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1616000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
|
287000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Tax Credit Carryforwards Foreign
DeferredTaxAssetsTaxCreditCarryforwardsForeign
|
137000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
|
14272000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
|
12888000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
418000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Other
DeferredTaxAssetsOther
|
548000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
14977000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
13573000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
14977000 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
13573000 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
0 | usd |
CY2024Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration
|
69101000 | usd |
CY2024Q1 | us-gaap |
Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
|
4542000 | usd |
CY2024 | us-gaap |
Revenues
Revenues
|
1345000 | usd |
CY2023 | us-gaap |
Revenues
Revenues
|
911000 | usd |
CY2024 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | pure |
CY2024 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | pure |
CY2024 | us-gaap |
Revenues
Revenues
|
1345000 | usd |
CY2024 | igc |
Total Revenue Percentage
TotalRevenuePercentage
|
1 | pure |
CY2023 | us-gaap |
Revenues
Revenues
|
911000 | usd |
CY2023 | igc |
Total Revenue Percentage
TotalRevenuePercentage
|
1 | pure |
CY2024 | us-gaap |
Revenues
Revenues
|
1345000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3695000 | usd |
CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
688000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
198000 | usd |
CY2024Q1 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
6197000 | 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 |
CY2024 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024 | dei |
Auditor Name
AuditorName
|
Manohar Chowdhry & Associates | |
CY2024 | dei |
Auditor Location
AuditorLocation
|
Chennai, India | |
CY2024Q1 | us-gaap |
Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent | |
CY2023Q1 | us-gaap |
Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
|
http://fasb.org/us-gaap/2024#AccruedLiabilitiesCurrent | |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | |
CY2023 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
pure | |
CY2024 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2024 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001326205 |