Note 6 - Intangible Digital Assets |
12 Months Ended |
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Mar. 31, 2026 | |
| Notes to Financial Statements | |
| Crypto Asset [Text Block] |
Note 6 — Intangible Digital Assets
On August 28, 2025, the Company adopted Bitcoin as its primary treasury reserve asset. Under this new treasury strategy, the Company purchases and holds Bitcoin for long term investment purposes. The Company accounts for its Bitcoin as in indefinite-lived intangible asset in accordance with ASC 350, Intangibles-Goodill and Other and has ownership over its Bitcoin, which are included in intangible digital assets in the Consolidated Balance Sheets. Without the Debentures holders consent, the Company is not permitted to purchase more than $9,500,000 of cryptocurrency assets. As of March 31, 2026, there were no contractual restrictions on the Company sale of its Bitcoin.
Bitcoin Purchases
The Company's Bitcoin purchased for investment purpose are initially recorded at cost, inclusive of transaction costs and fees. Subsequently, the Company remeasured its Bitcoin investment at fair value at the end of each reporting period with changes recognized in net income through other (expense) income, net on the Company's Consolidated Statements of Operations. As of March 31, 2026, the Company held approximately Bitcoins with a cost basis of $5.0 million and a fair value of $2.9 million.
The Company began cryptocurrency activities during the three months ended September 30, 2025. The Company purchased $5.0 million of cryptocurrency during the year ended March 31, 2026 and recognized a loss of $2.1 million associated with the change in fair value during the year ended March 31, 2026. The Company did sell any of its cryptocurrency during the year ended March 31, 2026.
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