| 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 |
|
|