Quarterly report pursuant to Section 13 or 15(d)

5. Condensed Consolidated Balance Sheets (Tables)

v3.20.4
5. Condensed Consolidated Balance Sheets (Tables)
 9 Months Ended
Dec. 31, 2020
Disclosure Text Block Supplement [Abstract]  
Schedule of inventories

Inventories, net consist of the following:  

    December 31,     March 31,  
    2020     2020  
Raw materials   $ 1,843,000     $ 1,128,000  
Finished goods     1,115,000       1,064,000  
    $ 2,958,000     $ 2,192,000  
Schedule of leases

The Company's operating leases are comprised primarily of operating facility leases. The Company did not have any finance leases as of December 31, 2020 and March 31, 2020. Balance sheet information related to our leases is presented below:

 

    December 31,     March 31,  
    2020     2020  
Operating leases:                
Operating lease right-of-use assets   $ 671,000     $ 963,000  
Operating lease liabilities – current     200,000       251,000  
Operating lease liabilities – non-current     471,000       746,000  
Schedule of annual minimum lease payments

As of December 31, 2020, the annual minimum lease payments of our operating lease liabilities were as follows:

 

    Three Months Ended December 31,     Nine Months Ended December 31,  
    2020     2019     2020     2019  
Operating Lease Costs   $ 61,000     $ 146,000     $ 230,000     $ 444,000  
Operating cash flows from operating leases                     306,000       384,000  

 

For Years Ending March 31,      
2021 (excluding the nine months ended December 31, 2020)   $ 56,000  
2022     226,000  
2023     183,000  
2024     150,000  
2025     104,000  
Thereafter     –  
Total future minimum lease payments, undiscounted     719,000  
Less: imputed interest     (48,000 )
Present value of future minimum lease payments   $ 671,000  
Weighted-average remaining lease term – operating leases (in months)     41  
Weighted-average discount rate – operating leases     6.00%