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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Mar. 31, 2024
Current assets:    
Cash and cash equivalents $ 6,159 $ 7,910
Restricted cash 1,350
Accounts receivable, net 886 1,035
Inventories, net 1,567 2,230
Prepaid and other current assets 2,812 742
Total current assets 12,774 11,917
Long term assets:    
Operating lease right-of-use assets 44 143
Property and equipment, net 483 502
Other non-current assets 36 47
Total assets 13,337 12,609
Current liabilities:    
Trade payables 2,594 1,584
Accrued expenses 4,233 2,697
Trade finance facility 2,495
Short-term borrowings, net 1,851
Operating lease liabilities, current 44 101
Unearned revenue 264 420
Total current liabilities 11,481 4,802
Long term liabilities:    
Operating lease liabilities, non-current 44
Total liabilities 11,481 4,846
Commitments and contingencies (see Note 14)
Stockholders’ equity:    
Series AA convertible preferred stock, $0.0001 par value, 1,800,000 shares authorized; 924,921 shares and nil shares issued and outstanding as of March 31, 2025 and 2024, respectively
Common stock, $0.0001 par value, 100,000,000 shares authorized: 19,291,000 and 15,653,449 shares issued and outstanding as of March 31, 2025 and 2024, respectively 2 1
Additional paid-in-capital 66,793 56,824
Accumulated other comprehensive loss (23) (85)
Accumulated deficit (64,916) (48,977)
Total stockholders’ equity 1,856 7,763
Total liabilities and stockholders’ equity $ 13,337 $ 12,609