v3.25.2
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Mar. 31, 2024
Current assets:    
Cash $ 257,000 $ 707,000
Accounts receivable, net of allowance for credit losses of $16 in 2025 and $11 in 2024 1,953,000 2,102,000
Inventories 7,788,000 7,313,000
Prepaid expenses and other current assets 547,000 469,000
Total current assets 10,545,000 10,591,000
Equipment and leasehold improvements, net 8,927,000 10,109,000
Operating lease right-of-use assets, net 3,902,000 4,284,000
Other assets 116,000 128,000
Total assets 23,490,000 25,112,000
Current liabilities:    
Accounts payable 2,217,000 1,439,000
Accrued expenses 715,000 757,000
Customer deposits 110,000 198,000
Operating lease obligations, current portion 555,000 530,000
Short-term debt – bank 760,000 1,240,000
Current maturities of long-term debt 2,886,000 3,140,000
Total current liabilities 10,243,000 8,554,000
Long-term debt – related party 1,000,000 1,000,000
Long-term operating lease obligations 3,363,000 3,744,000
Total liabilities 14,606,000 13,298,000
Commitments and contingencies
Stockholders’ equity:    
Preferred stock of $0.01 par value, 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock of $0.02 par value, 50,000,000 shares authorized; 7,199,908 shares at March 31, 2025 and 6,947,246 shares at March 31, 2024 issued and outstanding 144,000 139,000
Additional paid-in capital 34,844,000 34,576,000
Accumulated deficit (26,104,000) (22,901,000)
Total stockholders’ equity 8,884,000 11,814,000
Total liabilities and stockholders’ equity 23,490,000 25,112,000
Related Party [Member]    
Current liabilities:    
Line of credit – related party $ 3,000,000 $ 1,250,000