2024 Q3 Form 10-Q Financial Statement
#000118518524000766 Filed on August 07, 2024
Income Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
Revenue | $412.0K | $272.0K | $555.0K |
YoY Change | 41.58% | -50.99% | 161.79% |
Cost Of Revenue | $214.0K | $109.0K | $300.0K |
YoY Change | 82.91% | -63.67% | 328.57% |
Gross Profit | $198.0K | $163.0K | $255.0K |
YoY Change | 13.79% | -36.08% | 79.58% |
Gross Profit Margin | 48.06% | 59.93% | 45.95% |
Selling, General & Admin | $1.041M | $1.670M | $1.647M |
YoY Change | -25.48% | 1.4% | 6.26% |
% of Gross Profit | 525.76% | 1024.54% | 645.88% |
Research & Development | $917.0K | $889.0K | $747.0K |
YoY Change | -27.68% | 19.01% | -46.41% |
% of Gross Profit | 463.13% | 545.4% | 292.94% |
Depreciation & Amortization | $145.0K | $162.0K | $155.0K |
YoY Change | 3.57% | 4.52% | -4.32% |
% of Gross Profit | 73.23% | 99.39% | 60.78% |
Operating Expenses | $1.958M | $2.559M | $2.394M |
YoY Change | -26.53% | 6.89% | -18.68% |
Operating Profit | -$1.760M | -$2.396M | -$2.139M |
YoY Change | -29.35% | 12.01% | -23.66% |
Interest Expense | |||
YoY Change | |||
% of Operating Profit | |||
Other Income/Expense, Net | $43.00K | $18.00K | $64.00K |
YoY Change | 7.5% | -71.88% | 276.47% |
Pretax Income | -$1.717M | -$2.378M | -$2.075M |
YoY Change | -29.95% | 14.6% | -25.49% |
Income Tax | $0.00 | $0.00 | $0.00 |
% Of Pretax Income | |||
Net Earnings | -$1.717M | -$2.378M | -$2.075M |
YoY Change | -29.95% | 14.6% | -25.49% |
Net Earnings / Revenue | -416.75% | -874.26% | -373.87% |
Basic Earnings Per Share | -$0.02 | ||
Diluted Earnings Per Share | -$0.02 | -$0.03 | -$0.04 |
COMMON SHARES | |||
Basic Shares Outstanding | 75.64M shares | 75.64M shares | 53.08M shares |
Diluted Shares Outstanding | 76.01M shares |
Balance Sheet
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.824M | $1.950M | |
YoY Change | -6.46% | -75.79% | |
Cash & Equivalents | $1.546M | $1.824M | $1.723M |
Short-Term Investments | $227.0K | ||
Other Short-Term Assets | $198.0K | $240.0K | $193.0K |
YoY Change | 38.46% | 24.35% | -23.11% |
Inventory | $1.510M | $1.510M | $2.641M |
Prepaid Expenses | |||
Receivables | $44.00K | $28.00K | $225.0K |
Other Receivables | $51.00K | $0.00 | |
Total Short-Term Assets | $4.250M | $4.407M | $5.078M |
YoY Change | -30.52% | -13.21% | -60.1% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $3.468M | $3.586M | $8.104M |
YoY Change | -56.36% | -55.75% | -11.54% |
Goodwill | |||
YoY Change | |||
Intangibles | $1.803M | $1.720M | $1.179M |
YoY Change | 52.67% | 45.89% | 25.83% |
Long-Term Investments | |||
YoY Change | |||
Other Assets | $687.0K | $688.0K | $1.017M |
YoY Change | -31.16% | -32.35% | 10.3% |
Total Long-Term Assets | $6.119M | $6.187M | $10.60M |
YoY Change | -41.1% | -41.6% | -7.38% |
TOTAL ASSETS | |||
Total Short-Term Assets | $4.250M | $4.407M | $5.078M |
Total Long-Term Assets | $6.119M | $6.187M | $10.60M |
Total Assets | $10.37M | $10.59M | $15.67M |
YoY Change | -37.18% | -32.41% | -35.14% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $768.0K | $771.0K | $672.0K |
YoY Change | 39.89% | 14.73% | 47.37% |
Accrued Expenses | $2.034M | $1.718M | $1.459M |
YoY Change | 30.64% | 17.75% | 21.58% |
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $3.000K | $3.000K | $3.000K |
YoY Change | 0.0% | 0.0% | 0.0% |
Long-Term Debt Due | $3.000K | $3.000K | |
YoY Change | 0.0% | 0.0% | |
Total Short-Term Liabilities | $2.802M | $2.489M | $2.131M |
YoY Change | 33.05% | 16.8% | 28.45% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $135.0K | $136.0K | $140.0K |
YoY Change | -2.88% | -2.86% | -2.1% |
Other Long-Term Liabilities | $20.00K | $20.00K | $21.00K |
YoY Change | 17.65% | -4.76% | 31.25% |
Total Long-Term Liabilities | $190.0K | $225.0K | $340.0K |
YoY Change | -37.09% | -33.82% | -27.19% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $2.802M | $2.489M | $2.131M |
Total Long-Term Liabilities | $190.0K | $225.0K | $340.0K |
Total Liabilities | $2.992M | $2.714M | $2.471M |
YoY Change | 24.25% | 9.83% | 16.23% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$117.8M | -$116.0M | -$102.7M |
YoY Change | 11.95% | 12.95% | 11.74% |
Common Stock | |||
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $7.377M | $7.880M | $13.20M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $10.37M | $10.59M | $15.67M |
YoY Change | -37.18% | -32.41% | -35.14% |
Cashflow Statement
Concept | 2024 Q3 | 2024 Q2 | 2023 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.717M | -$2.378M | -$2.075M |
YoY Change | -29.95% | 14.6% | -25.49% |
Depreciation, Depletion And Amortization | $145.0K | $162.0K | $155.0K |
YoY Change | 3.57% | 4.52% | -4.32% |
Cash From Operating Activities | -$1.752M | -$1.468M | |
YoY Change | 19.35% | -33.15% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $38.00K | $20.00K | |
YoY Change | 90.0% | -84.25% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $43.00K | |
YoY Change | -100.0% | ||
Cash From Investing Activities | -$131.0K | -$5.000K | |
YoY Change | 2520.0% | -96.84% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | $2.507M | -$1.000K | |
YoY Change | -250800.0% | 0.0% | |
NET CHANGE | |||
Cash From Operating Activities | -$1.752M | -$1.468M | |
Cash From Investing Activities | -$131.0K | -$5.000K | |
Cash From Financing Activities | $2.507M | -$1.000K | |
Net Change In Cash | $626.0K | -$1.473M | |
YoY Change | -142.5% | -38.8% | |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.752M | -$1.468M | |
Capital Expenditures | $38.00K | $20.00K | |
Free Cash Flow | -$1.790M | -$1.488M | |
YoY Change | 20.3% | -35.94% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2024Q1 | us-gaap |
Other Receivables
OtherReceivables
|
686000 | usd |
CY2024Q2 | dei |
Entity Registrant Name
EntityRegistrantName
|
IGC PHARMA, INC. | |
CY2024Q2 | dei |
Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
|
MD | |
CY2024Q2 | dei |
Entity Tax Identification Number
EntityTaxIdentificationNumber
|
20-2760393 | |
CY2024Q2 | dei |
Entity Address Postal Zip Code
EntityAddressPostalZipCode
|
20854 | |
CY2024Q2 | dei |
Document Type
DocumentType
|
10-Q | |
CY2024Q2 | dei |
Document Quarterly Report
DocumentQuarterlyReport
|
true | |
CY2024Q2 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2024-06-30 | |
CY2024Q2 | dei |
Document Transition Report
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|
false | |
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Entity Address Address Line1
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|
10224 Falls Road | |
CY2024Q2 | dei |
Entity Address City Or Town
EntityAddressCityOrTown
|
Potomac | |
CY2024Q2 | dei |
Entity Address State Or Province
EntityAddressStateOrProvince
|
MD | |
CY2024Q2 | dei |
City Area Code
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|
301 | |
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Local Phone Number
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|
983-0998 | |
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Common Stock, par value $0.0001 per share | |
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Trading Symbol
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IGC | |
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Security Exchange Name
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NYSEAMER | |
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Entity Current Reporting Status
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Yes | |
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Entity Interactive Data Current
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Yes | |
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Entity Filer Category
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Non-accelerated Filer | |
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1198000 | usd |
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28000 | usd |
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Assets Held For Sale Not Part Of Disposal Group Current
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Assets Held For Sale Not Part Of Disposal Group Current
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Prepaid Expense And Other Assets Current
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Earnings Per Share Basic Diluted
EarningsPerShareBasicDiluted
|
-0.03 | |
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Earnings Per Share Basic Diluted
EarningsPerShareBasicDiluted
|
-0.04 | |
CY2024Q2 | igc |
Weighted Average Number Of Share Outstanding Basic Diluted
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|
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Stockholders Equity
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|
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CY2024Q2 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
433000 | usd |
CY2024Q2 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
2507000 | usd |
CY2024Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2378000 | usd |
CY2024Q2 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-3000 | usd |
CY2024Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
7880000 | usd |
CY2024Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-2378000 | usd |
CY2023Q2 | us-gaap |
Profit Loss
ProfitLoss
|
-2075000 | usd |
CY2024Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
162000 | usd |
CY2023Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
155000 | usd |
CY2024Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
402000 | usd |
CY2023Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
357000 | usd |
CY2024Q2 | us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
0 | usd |
CY2023Q2 | us-gaap |
Other Nonoperating Gains Losses
OtherNonoperatingGainsLosses
|
53000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-11000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
118000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-30000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-10000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
118000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-33000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
0 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
13000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
142000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
151000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
91000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-5000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-31000 | usd |
CY2024Q2 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-15000 | usd |
CY2023Q2 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-28000 | usd |
CY2024Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1752000 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1468000 | usd |
CY2024Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
38000 | usd |
CY2023Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
20000 | usd |
CY2024Q2 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | usd |
CY2023Q2 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
43000 | usd |
CY2024Q2 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
93000 | usd |
CY2023Q2 | us-gaap |
Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
|
28000 | usd |
CY2024Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-131000 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5000 | usd |
CY2024Q2 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2508000 | usd |
CY2023Q2 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | usd |
CY2024Q2 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-1000 | usd |
CY2023Q2 | us-gaap |
Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
|
-1000 | usd |
CY2024Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
2507000 | usd |
CY2023Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1000 | usd |
CY2024Q2 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
2000 | usd |
CY2023Q2 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
1000 | usd |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
626000 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-1473000 | 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 |
CY2024Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1824000 | usd |
CY2023Q2 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1723000 | usd |
CY2024Q2 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
433000 | usd |
CY2023Q2 | us-gaap |
Other Significant Noncash Transaction Value Of Consideration Given1
OtherSignificantNoncashTransactionValueOfConsiderationGiven1
|
357000 | usd |
CY2024Q2 | 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, a clinical-stage company developing treatments for Alzheimer’s disease, is committed to transforming patient care by striving to offer faster-acting and more effective solutions. Our leading drug candidate, 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, although there can be no assurance thereof.</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;">We currently have five platforms, each with a core molecule that can be modified. For example, the TGR family consists of many molecules, such as TGR-60, TGR-61, and TGR-63. TGR-63 targets plaques in Alzheimer’s. Similarly, the IGC-C and IGC-M platforms consist of many molecules. The Alzheimer’s targeting molecule from each of our platforms is set forth below:</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 0pt 0pt 50pt;text-indent:-14pt;">● <b>IGC-AD1:</b> Our lead investigational drug tackles agitation, a major burden for patients and caregivers. By addressing neuroinflammation, it has the potential to offer a faster-acting solution compared to traditional medications.</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 0pt 0pt 50pt;text-indent:-14pt;">● <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> <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 0pt 0pt 50pt;text-indent:-14pt;">● <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> <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 0pt 0pt 50pt;text-indent:-14pt;">● <b>IGC-M3:</b> Also in preclinical development, IGC-M3 focuses on early intervention by inhibiting Aβ plaque formation, potentially slowing cognitive decline.</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 0pt 0pt 43pt;text-indent:-7pt;">● <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> <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 developing Artificial Intelligence (“AI”) models for predicting early Alzheimer’s detection biomarkers, optimizing clinical trials, and to help us explore new disease applications for our molecules. For example, our AI models are being developed to predict the probability that our molecules can work on other receptors, such as GLP1 (neurological disorders, weight loss), CB1 (neuropsychiatric conditions), among others. Additionally, our 26 patent filings, including for IGC-AD1, demonstrate our commitment to innovation and protecting our intellectual property. 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;">IGC is a Maryland corporation established in 2005 with a fiscal year ending on March 31, spanning a 52- or 53-week period. IGC has two business segments: Life Sciences Segment and Infrastructure Segment. For more information on the business segments, please refer to Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations”.</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>Phase 2 Clinical Trial</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 launched a Phase 2 trial with a protocol titled “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” (clinicaltrials.gov, Identifier: CT05543681). The study is powered to include 146 Alzheimer’s patients; as a superiority trial with parallel groups; half of the participants will receive a placebo, and the other half will receive IGC-AD1.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;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 and secondary endpoints are the mean change in agitation scores from baseline, compared to placebo, as assessed by the Cohen-Mansfield Agitation Inventory (“CMAI”) in Alzheimer’s patients after 6 weeks of treatment and the mean change in CMAI scores after 2 weeks of treatment, respectively. Agitation is rated at the trial site, at baseline, week 2, and week 6, by a trained practitioner using the CMAI, a scale designed and widely used to measure agitation in Alzheimer’s dementia (“AAD”) in clinical trials. The IGC-AD1 Phase 2 is an ongoing clinical trial that continues to enroll. IGC-AD1 is an oral liquid formulation administered twice daily (“bid”) for six weeks with no placebo run-in and titration to full dose over two days. To date over 1,000 oral doses have been administered, with no dose-limiting adverse events observed, highlighting the safety profile of IGC-AD1. The investigational product potentially targets different pathways implicated in agitation in Alzheimer’s dementia (“AAD”), including CB1 receptor dysfunction, neuroinflammation, and neurotransmitter imbalance.</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>AI / Machine Learning (</b>“<b>ML</b>”<b>)</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;">In our pursuit of innovation, we leverage AI and ML. AI refers to the development of intelligent systems that can learn and act autonomously. ML is a branch of AI that allows computers to learn from data without the need for explicit programming. This technology plays a vital role in our efforts and could allow companies our size to do what previously was the domain of much larger pharmaceutical companies. For instance, we are utilizing ML by training transformers, a powerful neural network architecture, to analyze vast datasets from our Phase 1 and unblinded Phase 2 interim clinical trial to identify patterns and optimize the clinical trial protocol for a potential Phase 3 trial. The AI model, for example, can tell us if a particular neuropsychiatric scale that we used in Phase 1 and Phase 2 added valuable information to the trial, and if it did not, we could remove that scale from a future Phase 3 trial, thus saving money and time in the overall trial management. In the long term, with more data, the trained AI model could allow us to consider incoming patient signatures and predict outcomes for our drug, including adverse effects, thus personalizing the delivery of IGC-AD1.</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;">Additionally, we are developing AI models that help us explore potential applications of molecules from our platforms beyond their initial Alzheimer’s targets; we know that TGR-63 and IGC-M3 target plaques in Alzheimer’s, however, AI models could help us consider applications of TGR-60, TGR-61, IGC-M1, IGC-M2, and many others. For example, we are investigating whether our molecules might interact with other receptors, like GLP-1. GLP-1 is a receptor linked to regulating blood sugar and is increasingly being studied for its potential role in neurological disorders, in addition to its established role in weight management. A successful link between our molecules and other targets potentially expands our opportunities, as some of these other markets, such as the weight loss market, are considerably larger than the Alzheimer’s market. These applications could potentially lead, if proven in future clinical trials, to new treatment avenues and broader market reach for our molecules. This analysis also potentially allows us to prioritize work on our molecules and optimize our resources.</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 June 30, 2024, the Company had the following operating subsidiaries: IGCare LLC, HH Processors, LLC, IGC Pharma, LLC, IGC Pharma IP, LLC, SAN Holdings, LLC, Sunday Seltzer, LLC, Hamsa Biopharma India Pvt. Ltd., Techni Bharathi Private Limited (TBL), 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’s 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 <span style="-sec-extract:exhibit;"><span style="text-decoration:underline">www.sec.gov</span></span>.</p> | |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
199000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
181000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
672000 | usd |
CY2024Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
689000 | usd |
CY2024Q2 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
1048000 | usd |
CY2024Q1 | us-gaap |
Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
|
927000 | usd |
CY2024Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1720000 | usd |
CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1616000 | usd |
CY2024Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
20000 | usd |
CY2023Q2 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
18000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
88000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
97000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
106000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
117000 | usd |
CY2024Q2 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
129000 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6168000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6137000 | usd |
CY2024Q2 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2582000 | usd |
CY2024Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
2442000 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3586000 | usd |
CY2024Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3695000 | usd |
CY2024Q2 | us-gaap |
Depreciation
Depreciation
|
142000 | usd |
CY2023Q2 | us-gaap |
Depreciation
Depreciation
|
137000 | usd |
CY2024Q1 | us-gaap |
Land Available For Sale
LandAvailableForSale
|
720000 | usd |
CY2023Q1 | us-gaap |
Land
Land
|
4100000 | usd |
CY2024Q2 | us-gaap |
Proceeds From Deposits On Real Estate Sales
ProceedsFromDepositsOnRealEstateSales
|
180000 | usd |
CY2024Q3 | us-gaap |
Land Available For Sale
LandAvailableForSale
|
717000 | usd |
CY2024Q2 | 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 the 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><p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> | |
CY2024Q2 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
28000 | usd |
CY2024Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
24000 | usd |
CY2024Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
39000 | usd |
CY2024Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
24000 | usd |
CY2024Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
11000000 | shares |
CY2024Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
72813538 | shares |
CY2023Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
53077436 | shares |
CY2024Q2 | us-gaap |
Revenues
Revenues
|
272000 | usd |
CY2023Q2 | us-gaap |
Revenues
Revenues
|
555000 | usd |
CY2024Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1077000 | usd |
CY2024Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
1099000 | usd |
CY2024Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
36000 | usd |
CY2024Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
0 | usd |
CY2024Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
397000 | usd |
CY2024Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
441000 | usd |
CY2024Q2 | us-gaap |
Inventory Net
InventoryNet
|
1510000 | usd |
CY2024Q1 | us-gaap |
Inventory Net
InventoryNet
|
1540000 | usd |
CY2024Q2 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
26000 | usd |
CY2023Q2 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
20000 | usd |
CY2024Q2 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
34000 | usd |
CY2024Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
41000 | usd |
CY2024Q2 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
51000 | usd |
CY2024Q1 | us-gaap |
Other Inventory Net Of Reserves
OtherInventoryNetOfReserves
|
52000 | usd |
CY2024Q2 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
240000 | usd |
CY2024Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
115000 | usd |
CY2024Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
325000 | usd |
CY2024Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
208000 | usd |
CY2024Q2 | igc |
Statutory Advances
StatutoryAdvances
|
34000 | usd |
CY2024Q1 | igc |
Statutory Advances
StatutoryAdvances
|
39000 | usd |
CY2024Q2 | us-gaap |
Other Receivables
OtherReceivables
|
686000 | usd |
CY2024Q2 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
2000 | usd |
CY2024Q1 | us-gaap |
Deposits Assets Noncurrent
DepositsAssetsNoncurrent
|
2000 | usd |
CY2024Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
688000 | usd |
CY2024Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
688000 | usd |
CY2024Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1012000 | usd |
CY2024Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
816000 | usd |
CY2024Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
156000 | usd |
CY2024Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
208000 | usd |
CY2024Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
133000 | usd |
CY2024Q1 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
124000 | usd |
CY2024Q2 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
417000 | usd |
CY2024Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
419000 | usd |
CY2024Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1718000 | usd |
CY2024Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
1567000 | usd |
CY2024Q2 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
23000 | usd |
CY2024Q1 | us-gaap |
Accounts Payable Other Current
AccountsPayableOtherCurrent
|
25000 | usd |
CY2024Q2 | us-gaap |
Short Term Borrowings
ShortTermBorrowings
|
3000 | usd |
CY2024Q1 | 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 | |
CY2024Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1000 | usd |
CY2024Q2 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1000 | usd |
CY2023Q2 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1000 | usd |
CY2023Q2 | us-gaap |
Repayments Of Debt
RepaymentsOfDebt
|
1000 | usd |
CY2024Q2 | us-gaap |
Long Term Loans Payable
LongTermLoansPayable
|
136000 | usd |
CY2024Q2 | us-gaap |
Loans Payable Current
LoansPayableCurrent
|
3000 | usd |
CY2024Q2 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
20000 | usd |
CY2024Q1 | us-gaap |
Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
|
20000 | usd |
CY2024Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
20000 | usd |
CY2024Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
20000 | usd |
CY2024Q2 | us-gaap |
Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
|
0.06 | pure |
CY2024Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
CY2024Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
75636419 | shares |
CY2024Q2 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
1000000 | shares |
CY2024Q2 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q2 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
CY2024Q2 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
CY2024Q2 | igc |
Units Outstanding
UnitsOutstanding
|
91472 | shares |
CY2024Q2 | igc |
Unit Description
UnitDescription
|
Ten units may be separated into one share of common stock. | |
CY2024Q2 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4600000 | usd |
CY2024Q2 | igc |
Weighted Average Price Per Share
WeightedAveragePricePerShare
|
0.61 | |
CY2024Q2 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Gross
StockIssuedDuringPeriodSharesRestrictedStockAwardGross
|
4900000 | shares |
CY2024Q2 | 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 Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2024Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
|
1 | pure |
CY2024 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Award Vesting Rights Percentage
SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage
|
1 | pure |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0415 | pure |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0524 | pure |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.75 | pure |
CY2024 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
1.75 | pure |
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
|
0.62 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
|
0 | shares |
CY2024Q2 | 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 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
100000 | shares |
CY2024Q2 | 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
|
0.43 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures And Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations
|
0 | shares |
CY2024Q2 | 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 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
7352000 | shares |
CY2024Q2 | 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 | |
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 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
0 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2024Q2 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2024Q2 | igc |
Exercised Weighted Average Grant Date Fair Value
ExercisedWeightedAverageGrantDateFairValue
|
0 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
0 | shares |
CY2024Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
|
0 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3710000 | shares |
CY2024Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue
|
0.25 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
0.29 | |
CY2024Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P4Y | |
CY2024Q2 | us-gaap |
Assets Fair Value Adjustment
AssetsFairValueAdjustment
|
1824000 | usd |
CY2024Q2 | us-gaap |
Fair Value Asset Liability Recurring Basis Still Held Unrealized Gain Loss
FairValueAssetLiabilityRecurringBasisStillHeldUnrealizedGainLoss
|
0 | usd |
CY2024Q2 | us-gaap |
Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisGainLossIncludedInEarnings
|
0 | usd |
CY2024Q2 | us-gaap |
Assets Fair Value Disclosure
AssetsFairValueDisclosure
|
1824000 | usd |
CY2024Q2 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
1824000 | usd |
CY2024Q2 | us-gaap |
Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
|
0 | usd |
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 |
CY2024Q2 | us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
2 | pure |
CY2024Q2 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | pure |
CY2024Q2 | us-gaap |
Revenues
Revenues
|
272000 | usd |
CY2023Q2 | us-gaap |
Revenues
Revenues
|
555000 | usd |
CY2024Q2 | us-gaap |
Revenues
Revenues
|
272000 | usd |
CY2024Q2 | igc |
Total Revenue Percentage
TotalRevenuePercentage
|
1 | pure |
CY2023Q2 | us-gaap |
Revenues
Revenues
|
555000 | usd |
CY2023Q2 | igc |
Total Revenue Percentage
TotalRevenuePercentage
|
1 | pure |
CY2024Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1720000 | usd |
CY2024Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
3586000 | usd |
CY2024Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
688000 | usd |
CY2024Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
193000 | usd |
CY2024Q2 | us-gaap |
Assets Noncurrent
AssetsNoncurrent
|
6187000 | usd |
CY2024Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
1616000 | 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 |
CY2024Q3 | us-gaap |
Land Available For Sale
LandAvailableForSale
|
717000 | usd |
CY2024Q3 | us-gaap |
Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
|
12000000 | usd |
CY2024Q2 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q2 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
CY2024Q2 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
CY2024Q2 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2024Q2 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--03-31 | |
CY2024Q2 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2024Q2 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2025 | |
CY2024Q2 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001326205 |