Condensed Consolidated Balance Sheet |
Note 4. |
Condensed Consolidated Balance Sheet |
Inventories, net
Inventories, net consist of the following:
Schedule of inventories, net |
|
|
|
|
|
|
December 31, |
|
March 31, |
|
|
2024 |
|
2024 |
Raw materials |
|
$ |
1,376,000 |
|
|
$ |
1,802,000 |
|
Finished goods |
|
|
2,006,000 |
|
|
|
1,213,000 |
|
Inventories, gross |
|
|
3,382,000 |
|
|
|
3,015,000 |
|
Less: allowance for obsolete and excess inventory |
|
|
(239,000 |
) |
|
|
(296,000 |
) |
Total inventories, net |
|
$ |
3,143,000 |
|
|
$ |
2,719,000 |
|
Leases
The Company’s operating leases are comprised
primarily of facility leases. Balance sheet information related to the Company’s leases is presented below:
Schedule of lease information |
|
|
|
|
|
|
December 31, |
|
March 31, |
|
|
2024 |
|
2024 |
Operating leases: |
|
|
|
|
|
|
|
|
Operating lease right-of-use assets |
|
$ |
119,000 |
|
|
$ |
286,000 |
|
Operating lease liabilities – current |
|
|
90,000 |
|
|
|
198,000 |
|
Operating lease liabilities – non-current |
|
|
29,000 |
|
|
|
87,000 |
|
Other information related to leases is presented below:
|
|
|
Nine Months Ended December 31, 2024 |
|
|
Operating lease cost |
|
$ |
277,000 |
|
Other information: |
|
|
|
|
Operating cash flows from operating leases |
|
|
(136,000 |
) |
Weighted-average remaining lease term – operating leases (in months) |
|
|
17.50 |
|
Weighted-average discount rate – operating leases |
|
|
6.00% |
|
As of December 31, 2024, the annual minimum lease payments of our operating
lease liabilities were as follows:
Schedule of minimum lease payments of operating lease liabilities |
|
|
For Years Ending March 31, |
|
|
2025 (excluding the nine months ended December 31, 2024) |
|
$ |
41,000 |
|
2026 |
|
|
65,000 |
|
2027 |
|
|
14,000 |
|
2028 |
|
|
8,000 |
|
Total future minimum lease payments, undiscounted |
|
|
128,000 |
|
Less: imputed interest |
|
|
(9,000 |
) |
Present value of future minimum lease payments |
|
$ |
119,000 |
|
|