| 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, |
| |
|
2025 |
|
2025 |
| Raw materials |
|
$ |
2,068,000 |
|
|
$ |
1,395,000 |
|
| Finished goods |
|
|
1,951,000 |
|
|
|
1,818,000 |
|
| Inventories, gross |
|
|
4,019,000 |
|
|
|
3,213,000 |
|
| Less: allowance for obsolete and excess inventory |
|
|
(316,000 |
) |
|
|
(298,000 |
) |
| Total inventories, net |
|
$ |
3,703,000 |
|
|
$ |
2,915,000 |
|
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, |
| |
|
2025 |
|
2025 |
| Operating leases: |
|
|
|
|
|
|
|
|
| Operating lease right-of-use assets |
|
$ |
642,000 |
|
|
$ |
84,000 |
|
| Operating lease liabilities – current |
|
|
146,000 |
|
|
|
58,000 |
|
| Operating lease liabilities – non-current |
|
|
509,000 |
|
|
|
27,000 |
|
Other information related to leases is presented below:
| Nine Months Ended December 31, 2025 |
|
|
| Operating lease cost |
|
$ |
285,000 |
|
| Other information: |
|
|
|
|
| Operating cash flows from operating leases |
|
$ |
(553,000 |
) |
| Weighted-average remaining lease term – operating leases (in months) |
|
|
46.5 |
|
| Weighted-average discount rate – operating leases |
|
|
10.6% |
|
As of December 31, 2025, 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, |
|
|
| 2026 (excluding the nine months ended December 31, 2025) |
|
$ |
51,000 |
|
| 2027 |
|
|
210,000 |
|
| 2028 |
|
|
208,000 |
|
| 2029 |
|
|
169,000 |
|
| 2030 |
|
|
162,000 |
|
| Thereafter |
|
|
12,000 |
|
| Total future minimum lease payments, undiscounted |
|
|
812,000 |
|
| Less: imputed interest |
|
|
(157,000 |
) |
| Present value of future minimum lease payments |
|
$ |
655,000 |
|
|