Note 3 - Inventories

Inventories are written down for any obsolescence or when the net realizable value considering future events and conditions is less than the carrying value. For the three months ended March 31, 2023, the Company recorded $0.9 million (March 31, 2022 – $0.3 million), related to spoiled inventory in costs and expenses applicable to revenues on the unaudited interim condensed consolidated statements of operations.

For the three months ended March 31, 2023, the Company recorded $0.3 million (March 31, 2022 - $Nil) in costs and expenses applicable to revenues on the unaudited interim condensed consolidated statements of operations for inventory reserves.