| Condensed Consolidated Balance Sheet |
| Note 4. |
Condensed Consolidated Balance Sheet |
Inventories, net
Inventories, net consist of the following:
| Schedule of inventories |
|
|
|
|
|
|
| |
|
September 30, |
|
|
March 31, |
|
| |
|
2023 |
|
|
2023 |
|
| Raw materials |
|
$ |
1,493,000 |
|
|
$ |
1,764,000 |
|
| Finished goods |
|
|
1,020,000 |
|
|
|
1,094,000 |
|
| Inventories, net |
|
$ |
2,513,000 |
|
|
$ |
2,858,000 |
|
Leases
The Company's operating leases are comprised primarily
of facility leases. The Company did not have any finance leases as of September 30, 2023 and March 31, 2023. Balance sheet information
related to our leases is presented below:
| Schedule of lease information |
|
|
|
|
|
|
| |
|
September 30, |
|
|
March 31, |
|
| |
|
2023 |
|
|
2023 |
|
| Operating leases: |
|
|
|
|
|
|
|
|
| Operating lease right-of-use assets |
|
$ |
350,000 |
|
|
$ |
418,000 |
|
| Operating lease liabilities – current |
|
|
216,000 |
|
|
|
256,000 |
|
| Operating lease liabilities – non- current |
|
|
134,000 |
|
|
|
162,000 |
|
Other information related to leases is presented below:
| Six Months Ended September 30, 2023 |
|
|
|
| Operating lease cost |
|
$ |
216,000 |
|
| Other information: |
|
|
|
|
| Operating cash flows from operating leases |
|
|
(79,000 |
) |
| Weighted-average remaining lease term – operating leases (in months) |
|
|
19.3 |
|
| Weighted-average discount rate – operating leases |
|
|
6.00% |
|
As of September 30, 2023, the annual minimum lease payments of our
operating lease liabilities were as follows:
|
Schedule of minimum
operating lease liabilities |
|
|
|
| For Years Ending March 31, |
|
|
|
| 2024 (excluding the six months ended September 30, 2023) |
|
$ |
81,000 |
|
| 2025 |
|
|
144,000 |
|
| 2026 |
|
|
157,000 |
|
| 2027 |
|
|
9,000 |
|
| Total future minimum lease payments, undiscounted |
|
|
391,000 |
|
| Less: imputed interest |
|
|
(41,000 |
) |
| Present value of future minimum lease payments |
|
$ |
350,000 |
|
|