Schedule of income tax provision from domestic and foreign sources |
Schedule of income tax provision from domestic and foreign sources |
|
|
|
|
|
|
|
|
Year Ended March 31, |
|
|
|
2024 |
|
|
2023 |
|
Domestic |
|
$ |
(364,000 |
) |
|
$ |
(988,000 |
) |
Foreign |
|
|
(4,559,000 |
) |
|
|
(4,194,000 |
) |
Totals |
|
$ |
(4,923,000 |
) |
|
$ |
(5,182,000 |
) |
|
Schedule of federal, state and foreign income tax provisions |
Schedule of federal, state and foreign income tax provisions |
|
|
|
|
|
|
|
|
Year Ended March 31, |
|
|
|
2024 |
|
|
2023 |
|
Current: |
|
|
|
|
|
|
State |
|
$ |
2,000 |
|
|
$ |
2,000 |
|
|
|
|
|
|
|
|
|
|
Deferred Foreign |
|
|
(198,000 |
) |
|
|
(35,000 |
) |
Total income tax benefit |
|
$ |
(196,000 |
) |
|
$ |
(33,000 |
) |
|
Schedule of deferred tax assets |
Schedule of deferred tax assets |
|
|
|
|
|
|
|
|
March 31, |
|
|
|
2024 |
|
|
2023 |
|
Deferred tax assets: |
|
|
|
|
|
|
|
|
Net operating loss carryforwards |
|
$ |
28,692,000 |
|
|
$ |
28,558,000 |
|
Research and development tax credit carryforwards |
|
|
1,796,000 |
|
|
|
1,800,000 |
|
Stock-based compensation |
|
|
913,000 |
|
|
|
739,000 |
|
Reserves and accruals |
|
|
659,000 |
|
|
|
795,000 |
|
Other deferred tax assets |
|
|
52,000 |
|
|
|
20,000 |
|
Lease liability |
|
|
22,000 |
|
|
|
24,000 |
|
Gross deferred tax assets |
|
$ |
32,134,000 |
|
|
$ |
31,936,000 |
|
|
|
|
|
|
|
|
|
|
Less valuation allowance |
|
|
(30,836,000 |
) |
|
|
(30,809,000 |
) |
|
|
|
|
|
|
|
|
|
Total deferred tax assets |
|
$ |
1,298,000 |
|
|
$ |
1,127,000 |
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities: |
|
|
|
|
|
|
|
|
Fixed assets |
|
|
(10,000 |
) |
|
|
(16,000 |
) |
Prepaid expenses |
|
|
(121,000 |
) |
|
|
(138,000 |
) |
Right of use asset |
|
|
(22,000 |
) |
|
|
(24,000 |
) |
Gross deferred tax liabilities |
|
|
(153,000 |
) |
|
|
(178,000 |
) |
Net deferred tax assets |
|
$ |
1,145,000 |
|
|
$ |
949,000 |
|
|