| Condensed Consolidated Balance Sheet |
| Note 4. |
Condensed Consolidated Balance Sheet |
Inventories, net
Inventories, net consist of the following:
| Schedule of inventories, net |
|
|
|
|
|
|
| |
|
September 30, |
|
|
March 31, |
|
| |
|
2026 |
|
|
2026 |
|
| Raw materials |
|
$ |
1,676,000 |
|
|
$ |
2,083,000 |
|
| Finished goods |
|
|
2,136,000 |
|
|
|
2,182,000 |
|
| Inventories, gross |
|
|
3,812,000 |
|
|
|
4,265,000 |
|
| Less: allowance for obsolete and excess inventory |
|
|
(304,000 |
) |
|
|
(614,000 |
) |
| Total inventories, net |
|
$ |
3,508,000 |
|
|
$ |
3,651,000 |
|
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 |
|
|
|
|
|
|
| |
|
September 30, |
|
|
March 31, |
|
| |
|
2026 |
|
|
2026 |
|
| Operating leases: |
|
|
|
|
|
|
|
|
| Operating lease right-of-use assets |
|
$ |
522,000 |
|
|
$ |
602,000 |
|
| Operating lease liabilities – current |
|
$ |
163,000 |
|
|
$ |
151,000 |
|
| Operating lease liabilities – non-current |
|
$ |
382,000 |
|
|
$ |
469,000 |
|
Other information related to leases is presented below:
| |
|
Six Months Ended September 30, 2026
|
|
| Lease cost |
|
|
|
|
| Operating lease cost |
|
$ |
212,000 |
|
| Other information: |
|
|
|
|
| Operating cash flows from operating leases |
|
$ |
(78,000 |
) |
| Weighted-average remaining lease term – operating leases (in months) |
|
|
38.5 |
|
| Weighted-average discount rate – operating leases |
|
|
10.8% |
|
As of September 30, 2026, 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, |
|
|
|
| 2027 (excluding the three months ended September 30, 2026) |
|
$ |
105,000 |
|
| 2028 |
|
|
207,000 |
|
| 2029 |
|
|
168,000 |
|
| 2030 |
|
|
161,000 |
|
| Thereafter |
|
|
13,000 |
|
| Total future minimum lease payments, undiscounted |
|
|
654,000 |
|
| Less: imputed interest |
|
|
(109,000 |
) |
| Present value of future minimum lease payments |
|
$ |
545,000 |
|
|