v3.25.2
INCOME TAXES (Tables)
12 Months Ended
Mar. 31, 2025
INCOME TAXES  
Schedule of income and loss from continuing operations by location

    

2025

    

2024

Loss before income taxes

$

(2,750)

$

(5,110)

Income tax (benefit) expense

 

(2)

 

1,932

Net loss

$

(2,748)

$

(7,042)

Schedule of components of income tax provision

    

2025

    

2024

Current:

 

  

 

  

Federal

$

(1)

$

State

 

(1)

 

1

Total Current

$

(2)

$

1

Deferred:

 

 

Federal

$

$

2,087

State

 

 

(156)

Total Deferred

$

$

1,931

Income tax (benefit) expense

$

(2)

$

1,932

Schedule of reconciliation between income taxes computed at the U.S. federal statutory rate to the actual tax expense for income taxes reported in the consolidated statements of operations and comprehensive loss

    

2025

    

2024

 

U.S. statutory income tax

$

(577)

$

(1,073)

State income tax, net of federal benefit

 

159

 

(164)

Change in valuation allowance

410

3,141

Other

 

6

 

28

Income tax (benefit) expense

$

(2)

$

1,932

Effective tax rate*

 

0.07

%  

 

37.81

%

Effective tax rate is calculated by dividing the income tax provision by loss before income taxes.

Schedule of the components of deferred income tax assets and liabilities

    

2025

    

2024

Deferred tax assets:

 

  

 

  

Net operating loss carryforward

$

6,056

$

6,302

Compensation

 

221

 

142

Stock based compensation awards

25

7

Operating leases

995

1,196

Other items not currently deductible

 

170

 

538

Total deferred tax assets

 

7,467

 

8,185

Valuation allowance

(5,722)

(5,312)

Net deferred tax assets

 

1,745

 

2,873

Deferred tax liabilities:

Depreciation

(782)

(1,563)

Operating leases

(963)

(1,157)

Contract accounting methods

(153)

Total deferred tax liabilities

 

(1,745)

 

(2,873)

Deferred taxes, net

$

$