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Condensed Consolidated Balance Sheet
 6 Months Ended
Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Condensed Consolidated Balance Sheet

 

Note 4. Condensed Consolidated Balance Sheet

 

Inventories, net

 

Inventories, net consist of the following:

        
   September 30,   March 31, 
   2024   2024 
Raw materials  $1,670,000   $1,802,000 
Finished goods   1,421,000    1,213,000 
Inventories, gross    3,091,000    3,015,000 
Less: allowance for obsolete and excess inventory   (254,000)   (296,000)
Total inventories, net  $2,837,000   $2,719,000 

 

Leases

 

The Company’s operating leases are comprised primarily of facility leases. Balance sheet information related to the Company’s leases is presented below:

         
   September 30,   March 31, 
   2024   2024 
Operating leases:          
Operating lease right-of-use assets  $162,000   $286,000 
Operating lease liabilities – current   116,000    198,000 
Operating lease liabilities – non-current   46,000    87,000 

 

Other information related to leases is presented below:

 

Six Months Ended September 30, 2024    
Operating lease cost  $186,000 
Other information:     
Operating cash flows from operating leases   (102,000)
Weighted-average remaining lease term – operating leases (in months)   18.7 
Weighted-average discount rate – operating leases   6.00% 

 

As of September 30, 2024, the annual minimum lease payments of our operating lease liabilities were as follows:

     
For Years Ending March 31,    
2025 (excluding the six months ended September 30, 2024)  $87,000 
2026   67,000 
2027   14,000 
2028   9,000 
Total future minimum lease payments, undiscounted   177,000 
Less: imputed interest   (15,000)
Present value of future minimum lease payments  $162,000