Note 4 – Right-of-Use (ROU) Asset and Liabilities

ROU: At March 31, 2025, the Company recorded a ROU asset and lease liabilities of approximately $80,000 for its operating office and equipment leases, including approximately $10,000 beyond one year.  At March 31, 2024, there were ROU asset and lease liabilities of $69,000 with $21,000 beyond one year. Operating office and equipment leases are included in operating lease ROU assets, current accrued liabilities and long-term accrued liabilities in the Company’s accompanying Consolidated Balance Sheets. 

Accrued Liabilities: Accrued current liabilities primarily consisted of (i) accrued vacation of $3,425,000 and $3,325,000 at March 31, 2025 and 2024, respectively, (ii) current portion of the supplemental compensation accrual of $650,000 and $680,000 at March 31, 2025 and 2024, respectively, and (iii) accrued payroll, including non-qualified compensation, and other of $2,333,000 and $2,049,000 at March 31, 2025 and 2024, respectively. Accrued long-term liabilities primarily consist of the long-term portion of the supplemental compensation accruals at March 31, 2025 and 2024, respectively.