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6. Condensed Consolidated Balance Sheets
 3 Months Ended
Jun. 30, 2020
Disclosure Text Block Supplement [Abstract]  
Condensed Consolidated Balance Sheets

Note 6. Condensed Consolidated Balance Sheets

 

Inventories, net

 

Inventories, net consist of the following:

  

   June 30,   March 31, 
   2020   2020 
Raw materials  $2,894,000   $1,128,000 
Finished goods   1,299,000    1,064,000 
   $4,193,000   $2,192,000 

 

The Company reserved $632,000 and $549,000 for obsolescence at June 30, 2020 and March 31, 2020, respectively.

 

Leases

 

The Company's operating leases are comprised primarily of facility leases. The Company did not have any finance leases as of June 30, 2020 and March 31, 2020. Balance sheet information related to our leases is presented below:

 

   June 30,   March 31, 
   2020   2020 
Operating leases:          
Operating lease right-of-use assets  $343,000   $963,000 
Operating lease liabilities – current   135,000    251,000 
Operating lease liabilities – non- current   221,000    746,000 

 

Other information related to leases is presented below:

 

Three Months Ended June 30, 2020    
Operating lease cost   49,000 
Other information:     
Operating cash flows from operating leases   46,000 
Weighted-average remaining lease term – operating leases (in months)   36.3 
Weighted-average discount rate – operating leases   6.00% 

 

As of June 30, 2020, the annual minimum lease payments of our operating lease liabilities were as follows:

 

For Years Ending March 31,    
2021 (excluding the three months ended June 30, 2020)  $ 114,000 
2022   114,000 
2023   86,000 
2024   57,000 
Thereafter   – 
Total future minimum lease payments, undiscounted   370,000 
Less: imputed interest   (15,000)
Present value of future minimum lease payments  $355,000