| Condensed Consolidated Balance Sheet |
| Note 4. |
Condensed Consolidated Balance Sheet |
Inventories, net
Inventories, net consist of the following:
| Schedule of inventories, net | |
| |
|
| | |
June 30, | |
March 31, |
| | |
2026 | |
2026 |
| Raw materials | |
$ | 2,073,000 | | |
$ | 2,083,000 | |
| Finished goods | |
| 2,345,000 | | |
| 2,182,000 | |
| Inventories, gross | |
| 4,418,000 | | |
| 4,265,000 | |
| Less: allowance for obsolete and excess inventory | |
| (632,000 | ) | |
| (614,000 | ) |
| Total inventories, net | |
$ | 3,786,000 | | |
$ | 3,651,000 | |
Leases
The Company’s operating leases are comprised
primarily of facility leases. Balance sheet information related to the Company’s leases is presented below:
| Schedule of lease information | |
| |
|
| | |
June 30, | |
March 31, |
| | |
2026 | |
2026 |
| Operating leases: | |
| | | |
| | |
| Operating lease right-of-use assets | |
$ | 578,000 | | |
$ | 602,000 | |
| Operating lease liabilities – current | |
$ | 160,000 | | |
$ | 151,000 | |
| Operating lease liabilities – non-current | |
$ | 439,000 | | |
$ | 469,000 | |
Other information related to leases is presented below:
| | |
Three Months Ended June 30, 2026 |
| Lease cost | |
| | |
| Operating lease cost | |
$ | 104,000 | |
| Other information: | |
| | |
| Operating cash flows from operating leases | |
| (40,000 | ) |
| Weighted-average remaining lease term – operating leases (in months) | |
| 41.2 | |
| Weighted-average discount rate – operating leases | |
| 10.7% | |
As of June 30, 2026, the annual minimum lease payments of our operating
lease liabilities were as follows:
| Schedule of minimum lease payments of operating lease liabilities | |
|
| For Years Ending March 31, | |
|
| 2027 (excluding the three months ended June 30, 2026) | |
$ | 162,000 | |
| 2028 | |
| 212,000 | |
| 2029 | |
| 174,000 | |
| 2030 | |
| 166,000 | |
| Thereafter | |
| 13,000 | |
| Total future minimum lease payments, undiscounted | |
| 727,000 | |
| Less: imputed interest | |
| (128,000 | ) |
| Present value of future minimum lease payments | |
$ | 599,000 | |
|