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Condensed Consolidated Balance Sheet
 3 Months Ended
Jun. 30, 2025
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: 

        
   June 30,   March 31, 
   2025   2025 
Raw materials  $1,755,000   $1,395,000 
Finished goods   2,351,000    1,818,000 
Inventories, gross   4,106,000    3,213,000 
Less: allowance for obsolete and excess inventory   (304,000)   (298,000)
Total inventories, net  $3,802,000   $2,915,000 

 

Leases

 

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

        
   June 30,   March 31, 
   2025   2025 
Operating leases:        
Operating lease right-of-use assets  $536,000   $84,000 
Operating lease liabilities – current   96,000    58,000 
Operating lease liabilities – non-current   440,000    27,000 

 

Other information related to leases is presented below:

 

Three Months Ended June 30, 2025    
Operating lease cost  $87,000 
Other information:     
Operating cash flows from operating leases  $(448,000)
Weighted-average remaining lease term – operating leases (in months)   53.3 
Weighted-average discount rate – operating leases   10.7% 

 

As of June 30, 2025, the annual minimum lease payments of our operating lease liabilities were as follows:

    
For Years Ending March 31,    
2026 (excluding the three months ended June 30, 2025)  $126,000 
2027   139,000 
2028   146,000 
2029   149,000 
2030   164,000 
Thereafter   13,000 
Total future minimum lease payments, undiscounted   737,000 
Less: imputed interest   (201,000)
Present value of future minimum lease payments  $536,000