| Condensed Consolidated Balance Sheet |
| Note 4. |
Condensed Consolidated Balance Sheet |
Inventories, net
Inventories, net consist of the following:
| Schedule of inventories |
|
|
|
|
|
|
| |
|
December 31, |
|
|
March 31, |
|
| |
|
2023 |
|
|
2023 |
|
| Raw materials |
|
$ |
1,507,000 |
|
|
$ |
1,764,000 |
|
| Finished goods |
|
|
1,448,000 |
|
|
|
1,094,000 |
|
| Inventories, net |
|
$ |
2,955,000 |
|
|
$ |
2,858,000 |
|
Leases
The Company's operating leases are comprised primarily
of facility leases. The Company did not have any finance leases as of December 31, 2023 and March 31, 2023. Balance sheet information
related to our leases is presented below:
| Schedule of lease information |
|
|
|
|
|
|
| |
|
December 31, |
|
|
March 31, |
|
| |
|
2023 |
|
|
2023 |
|
| Operating leases: |
|
|
|
|
|
|
| Operating lease right-of-use assets |
|
$ |
341,000 |
|
|
$ |
418,000 |
|
| Operating lease liabilities – current |
|
|
181,000 |
|
|
|
256,000 |
|
| Operating lease liabilities – non- current |
|
|
160,000 |
|
|
|
162,000 |
|
Other information related to leases is presented below:
| Nine Months Ended December 31, 2023 |
|
|
|
| Operating lease cost |
|
$ |
328,000 |
|
| Other information: |
|
|
|
|
| Operating cash flows from operating leases |
|
|
(99,000 |
) |
| Weighted-average remaining lease term – operating leases (in months) |
|
|
21.5 |
|
| Weighted-average discount rate – operating leases |
|
|
6.00% |
|
As of December 31, 2023, the annual minimum lease payments of our operating
lease liabilities were as follows:
| Schedule of minimum operating
lease liabilities |
|
|
|
| For Years Ending March 31, |
|
|
|
| 2024 (excluding the nine months ended December 31, 2023) |
|
$ |
38,000 |
|
| 2025 |
|
|
134,000 |
|
| 2026 |
|
|
175,000 |
|
| 2027 |
|
|
34,000 |
|
| Total future minimum lease payments, undiscounted |
|
|
381,000 |
|
| Less: imputed interest |
|
|
(40,000 |
) |
| Present value of future minimum lease payments |
|
$ |
341,000 |
|
|