v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Mar. 31, 2025
Current assets:    
Cash $ 40 $ 1,407
Accounts receivable, net of provision for credit losses of $63 and $53, respectively 11,050 6,102
Inventory, net 10,559 12,456
Prepaid expenses and other assets 460 294
Total current assets 22,109 20,259
Property and equipment, net 1,613 1,594
Operating lease right-of-use assets 454 558
Federal tax deposit 28 28
Intangible assets, net [1] 641 684
Deposits 19 19
Deferred financing costs 181 236
Total assets 25,045 23,378
Current liabilities:    
Line of credit 8,921 8,413
Accounts payable 8,912 6,453
Accrued expenses 2,830 1,720
Operating lease liability, current 217 213
Total current liabilities 20,880 16,799
Operating lease liability, net of current portion 263 373
Notes payable to Stauss Family Administrative Trust, net of current portion 667 676
Total liabilities 21,810 17,848
Stockholders’ equity:    
Common stock; at $0.0001 par value, 200,000,000 shares authorized, 10,384,923 and 10,306,426 shares issued and outstanding as of September 30, 2025 and March 31, 2025, respectively 1 1
Additional paid-in capital 8,675 8,532
Accumulated other comprehensive loss (289) (347)
Accumulated deficit (6,978) (4,297)
Total equity attributable to ZRCN Inc. stockholders 1,409 3,889
Non-controlling interests in variable interest entities 1,826 1,641
Total stockholders’ equity 3,235 5,530
Total liabilities and stockholders’ equity $ 25,045 $ 23,378
[1] Finite-lived intangible assets have estimated useful lives of five to twenty years, and are being amortized to operating expenses on a straight-line basis.