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Note 10 - License Agreements | 12 Months Ended
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Mar. 31, 2024
Notes to Financial Statements |
Licensing Agreements [Text Block] | NOTE 10 — LICENSE AGREEMENTS: During fiscal 2024 the Company was party to three license agreements, one of which was terminated by the Company in June 2023. The remaining agreements allow the licensee to access the Company’s trademarks for the manufacture and/or the sale of consumer electronics and other products. The license agreements (i) allow the licensee to use the Company’s trademarks for a specific product category, or for sales within specific geographic areas, or for sales to a specific customer base, or any combination of the above, or any other category that might be defined in the applicable license agreement and (ii) may be subject to renewal at the initial expiration of the applicable license agreement and are governed by the laws of the United States. The Company recorded licensing revenues of approximately $218,000 in fiscal 2024 and $372,000 in fiscal 2023 under the license agreements. The Company also recorded several one-time settlement agreements with customers of Emerson Quiet Kool, which aggregated $175,000 in fiscal 2024 and $730,000 in fiscal 2023. The agreements allow Emerson Quiet Kool's customers to sell-off their on hand inventories over a limited period. These amounts are presented separately as Royalty Income in the Consolidated Statements of Operations.

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