Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Mar. 31, 2023
Current assets:    
Cash and cash equivalents $ 3,128 $ 3,820
Accounts receivable, net 2,898 2,572
Inventories, net 2,719 2,858
Prepaid expenses and other current assets 3,541 4,308
Current portion of deferred consideration, net of discount 262 240
Total current assets 12,548 13,798
Property and equipment, net 365 488
Operating lease, right of use assets 286 418
Deferred tax asset 1,145 949
Deferred consideration, net of discount, less current portion 330 505
Other assets 66 73
Total assets 14,740 16,231
Current liabilities:    
Accounts payable 607 841
Accrued expenses and other current liabilities 2,113 2,029
Deferred revenue 478 160
Short-term debt 323 431
Operating lease liabilities, current portion 198 256
Total current liabilities 3,719 3,717
Deferred revenue, net of current portion 87 140
Withholding tax payable 4,710 4,235
Operating lease liabilities, less current portion 87 162
Total liabilities 8,603 8,254
Commitments and Contingencies (Note 11)
Stockholders’ Equity:    
Convertible preferred stock, $0.0001 par value; 714,286 shares authorized at March 31, 2024 and 2023, respectively, no shares issued and outstanding at March 31, 2024 and 2023, respectively 0 0
Common stock, $0.0001 par value; 24,000,000 shares authorized at March 31, 2024 and 2023, respectively, 15,607,433 and 4,933,550 shares issued and outstanding at March 31, 2024 and 2023, respectively (Note 12) 2 5
Additional paid-in capital 203,207 200,904
Accumulated deficit (194,349) (189,514)
Accumulated other comprehensive loss (2,723) (3,418)
Total stockholders’ equity 6,137 7,977
Total liabilities and stockholders’ equity $ 14,740 $ 16,231