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PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

Sep. 30, 2024

PROPERTY, PLANT AND EQUIPMENT, NET

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 9 - PROPERTY, PLANT AND EQUIPMENT, NET

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​	​	​	​	​	​	​
Property, plant and equipment included the following as of:		September 30, 2024			March 31, 2024
Land	​	$	110	​	$	110
Building and improvements	​		3,294	​	​	3,294
Machinery equipment, furniture, and fixtures	​		25,318	​	​	25,591
Construction-in-progress	​		977	​	​	148
Total property, plant, and equipment	​		29,699	​	​	29,143
Less: accumulated depreciation	​		(15,319)	​	​	(14,345)
Total property, plant and equipment, net	​	$	14,380	​	$	14,798

​

​

For the six months ended September 30, 2024 and 2023, we recorded depreciation expense of $1,040 and $789, respectively.

In September 2023, the Company signed an agreement to make additional equipment upgrades for a certain customer. We recognize new purchases as a fixed asset and billings for reimbursement from the customer as a contra-asset. Future depreciation of the asset will be offset directly by the amortization of the contra-asset on a net basis in the statement of operations. The amortization period will match the schedule of depreciation set forth under our policies.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

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-Topic 360
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Section 50
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-Topic 958
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