Company: LHI
Filing Date: 2025-02-14
Form Type: DRS/A
Source: 0001213900-25-014190
Chunk: 289

Company: Living Homeopathy International Ltd.
Filing Date: 2025-02-14
Form: DRS/A
Chunk 289
---
 issued Accounting
Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures.
The purpose of the update was to improve financial reporting by requiring disclosures of incremental segment information on an annual
and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this
ASU are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December
15, 2024, with early adoption permitted and requires retrospective application to all periods presented in the consolidated financial
statements. Management is evaluating the impact on the Company’s unaudited interim condensed consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvements to Income Tax Disclosures (ASU 2023-09), which requires disclosure of incremental income tax information
within the rate reconciliation and expanded disclosures of income taxes paid, among other disclosure requirements. ASU 2023-09 is effective
for fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company’s management does not believe the
adoption of ASU 2023-09 will have a material impact on its unaudited interim condensed consolidated financial statements and disclosures.

Except for the above-mentioned pronouncements,
there are no new recent issued accounting standards that will have a material impact on the unaudited interim condensed consolidated
balance sheets, statements of (loss) income and comprehensive (loss) income and cash flows.

Note 3 – Inventories, net

Inventories, net, consisted of the following:

|                  |     | As of 
 2024  | September 30, |     | As of 
 2024  | March 31, |
|:-----------------|:----|:------|--------------:|:----|:------|----------:|
| Raw materials    |     | $     |       470,232 |     | $     |   556,402 |
| Finished goods   |     |       |       460,216 |     |       |   548,461 |
| Inventories, net |     | $     |       930,448 |     | $     | 1,104,863 |

For the six months ended September 30, 2024
and 2023, nil impairment for invent