Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | 13. Commitments and Contingencies
Legal Proceedings
Zircon engages in procedures to protect its proprietary rights and has filed complaints with the Federal Trade Commission and the Customs and Border Patrol. As of September 30, 2025, no material contingencies exist.
Leases
The Company’s corporate headquarters in Campbell, California are leased from the Stauss Family Administrative Trust for approximately $ per month under a lease expiring in December 2027. The lease requires the Company to pay utilities, maintenance and real estate taxes. Rent expense was approximately $115,000 for both of the six months ended September 30, 2025 and 2024, respectively.
The Company leases office equipment through a lease that expires in June 2026 and requires monthly lease payments of less than $0.1 million for a period of five years. The total lease expense for the six months ended September 30, 2025 and 2024 amounted to less than $0.1 million in each respective period.
The Company had leased a vehicle that expired on July 2024 and required monthly lease payments of less than $0.1 million for a period of three years. In July 2024 the Company leased a new vehicle under the same terms, that expires in June 2027 with required monthly lease payments of less than $0.1 million for a period of three years. The total lease expense for the six months ended September 30, 2025 and 2024 amounted to less than $0.1 million in each respective period.
The components of lease expense, which include short-term and variable lease expense and are included in selling, general and administrative expense, are as follows:
The following table provides the weighted average lease term and weighted average discount rate for the six months ended September 30, 2025 and 2024, respectively:
ZRCN Inc. CONDENSED NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2025 AND 2024
Future minimum lease payment under non-cancellable lease as of September 30, 2025 are as follows:
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