Schedule of income tax provision from domestic and foreign sources |
Schedule of income tax provision from domestic and foreign sources | |
| | |
| |
| |
Year Ended March 31, | |
| |
2025 | | |
2024 | |
Domestic | |
$ | (161,000 | ) | |
$ | (364,000 | ) |
Foreign | |
| (2,749,000 | ) | |
| (4,559,000 | ) |
Totals | |
$ | (2,910,000 | ) | |
$ | (4,923,000 | ) |
|
Schedule of federal, state and foreign income tax provisions |
Schedule of federal, state and foreign income tax provisions | |
| | |
| |
| |
Year Ended March 31, | |
| |
2025 | | |
2024 | |
Current: | |
| | |
| |
State | |
$ | (2,000 | ) | |
$ | (2,000 | ) |
| |
| | | |
| | |
Deferred: | |
| | | |
| | |
Foreign | |
| (548,000 | ) | |
| 198,000 | |
Total income tax (expense) benefit | |
$ | (550,000 | ) | |
$ | 196,000 | |
|
Schedule of deferred tax assets |
Schedule of deferred tax assets | |
| | |
| |
| |
March 31, | |
| |
2025 | | |
2024 | |
Deferred tax assets: | |
| | | |
| | |
Net operating loss carryforwards | |
$ | 26,456,000 | | |
$ | 28,692,000 | |
Research and development tax credit carryforwards | |
| 1,749,000 | | |
| 1,796,000 | |
Stock-based compensation | |
| 879,000 | | |
| 913,000 | |
Reserves and accruals | |
| 618,000 | | |
| 659,000 | |
Other deferred tax assets | |
| 41,000 | | |
| 52,000 | |
Lease liability | |
| 10,000 | | |
| 22,000 | |
Gross deferred tax assets | |
| 29,753,000 | | |
| 32,134,000 | |
| |
| | | |
| | |
Less valuation allowance | |
| (29,062,000 | ) | |
| (30,836,000 | ) |
| |
| | | |
| | |
Total deferred tax assets | |
$ | 691,000 | | |
$ | 1,298,000 | |
| |
| | | |
| | |
Deferred tax liabilities: | |
| | | |
| | |
Fixed assets | |
| (6,000 | ) | |
| (10,000 | ) |
Prepaid expenses | |
| (86,000 | ) | |
| (121,000 | ) |
Right of use asset | |
| (10,000 | ) | |
| (22,000 | ) |
Gross deferred tax liabilities | |
| (102,000 | ) | |
| (153,000 | ) |
Net deferred tax assets | |
$ | 589,000 | | |
$ | 1,145,000 | |
|