Schedule of deferred tax assets |
Schedule of deferred tax assets |
|
|
|
|
|
|
|
|
|
|
March 31, |
|
|
|
2022 |
|
|
2021 |
|
Deferred tax assets: |
|
|
|
|
|
|
|
|
Net operating loss carryforwards |
|
$ |
28,224,000 |
|
|
$ |
25,687,000 |
|
Research and development tax credit carryforwards |
|
|
1,850,000 |
|
|
|
1,850,000 |
|
Stock-based compensation |
|
|
309,000 |
|
|
|
3,120,000 |
|
Allowances and accruals |
|
|
1,336,000 |
|
|
|
659,000 |
|
Other deferred tax assets |
|
|
– |
|
|
|
398,000 |
|
Lease liability |
|
|
63,000 |
|
|
|
78,000 |
|
Gross deferred tax assets |
|
$ |
31,782,000 |
|
|
$ |
31,792,000 |
|
|
|
|
|
|
|
|
|
|
Less valuation allowance |
|
|
(30,613,000 |
) |
|
|
(31,528,000 |
) |
|
|
|
|
|
|
|
|
|
Total deferred tax assets |
|
$ |
1,169,000 |
|
|
$ |
264,000 |
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
|
|
Fixed assets |
|
|
(17,000 |
) |
|
|
(3,000 |
) |
Prepaid expenses |
|
|
(260,000 |
) |
|
|
(186,000 |
) |
Right of Use asset |
|
|
(63,000 |
) |
|
|
(75,000 |
) |
Gross deferred tax liabilities |
|
|
(340,000 |
) |
|
|
(264,000 |
) |
Net deferred tax assets |
|
$ |
829,000 |
|
|
$ |
– |
|
|
Income tax provision domestic and foreign |
Income tax provision domestic and foreign |
|
|
|
|
|
|
|
|
|
|
Year Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
Domestic |
|
$ |
(3,516,000) |
|
|
$ |
(2,052,000) |
|
Foreign |
|
|
(1,883,000) |
|
|
|
(1,467,000) |
|
|
|
$ |
(5,399,000) |
|
|
$ |
(3,519,000) |
|
|
Schedule of income tax expense |
Schedule of income tax expense |
|
|
|
|
|
|
|
|
|
|
Year Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
Current: |
|
|
|
|
|
|
State |
|
$ |
8,000 |
|
|
$ |
1,000 |
|
Foreign |
|
|
469,000 |
|
|
|
941,000 |
|
Current Income Tax Expense |
|
|
477,000 |
|
|
|
942,000 |
|
Deferred: |
|
|
|
|
|
|
|
|
Federal |
|
|
– |
|
|
|
– |
|
State |
|
|
– |
|
|
|
– |
|
Foreign |
|
|
(809,000) |
|
|
|
– |
|
Total deferred income tax |
|
$ |
(332,000) |
|
|
$ |
942,000 |
|
|