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ACCRUED EXPENSES

9 Months Ended

Dec. 31, 2024

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 10 - ACCRUED EXPENSES

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​	​	​	​	​	​	​
Accrued expenses included the following as of:		December 31, 2024			March 31, 2024
Accrued compensation	​	$	1,018	​	$	1,172
Provision for claims	​	​	248	​	​	517
Provision for contract losses	​		479	​	​	293
Accrued professional fees	​		402	​	​	459
Accrued project costs	​		907	​	​	560
Accrued breakup fee	​	​	—	​	​	1,117
Accrued liquidated damages	​	​	108	​	​	—
Other	​		182	​	​	145
Total	​	$	3,344	​	$	4,263

​

Accrued compensation includes amounts for executive bonuses, payroll and vacation and holiday pay. Provisions for estimated losses on uncompleted contracts are made in the period in which such losses are determined. Changes in the provision are recorded in cost of revenue. Accrued project costs are estimates for certain project expenses during the reporting period.

Due to a change in certain conditions and events, it became probable that on March 31, 2024, the Company would not be able to close on the acquisition of Votaw Precision Technologies, Inc. and accrued a breakup fee of $1,117. On April 29, 2024, we issued 320,000 shares of common stock with a fair value of $1,536 for the breakup fee payment as set forth under the terms and conditions of the agreement. The additional $419 was based on the change in fair value of shares at the time of issuance was recorded in April 2024.

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