v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Current assets:    
Cash $ 79 $ 784
Accounts receivable, net of provision for credit losses of $203 and $163, respectively 5,551 5,428
Inventory, net 9,061 10,295
Prepaid expenses and other assets 409 305
Total current assets 15,100 16,812
Property and equipment, net 1,476 1,583
Operating lease right-of-use assets 296 349
Federal tax deposit 27 28
Intangible assets, net [1] 690 707
Deposits 19 19
Deferred financing costs 755 823
Total assets 18,363 20,321
Current liabilities:    
Accounts payable 9,019 9,984
Accrued expenses 2,124 2,422
Operating lease liability, current 220 219
Total current liabilities 11,363 12,625
Line of credit 8,161 7,969
Operating lease liability, net of current portion 96 152
Notes payable to Stauss Family Administrative Trust, net of current portion 1,179 667
Total liabilities 20,799 21,413
Commitments and Contingencies (Note 13)
Stockholders’ deficit:    
Common stock; at $0.0001 par value, 25,000,000 shares authorized, 10,360,924 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively 1 1
Additional paid-in capital 8,845 8,789
Accumulated other comprehensive loss (122) (177)
Accumulated deficit (12,917) (11,369)
Total deficit attributable to ZRCN Inc. stockholders (4,193) (2,756)
Non-controlling interests in variable interest entities 1,757 1,664
Total stockholders’ deficit (2,436) (1,092)
Total liabilities and stockholders’ equity $ 18,363 $ 20,321
[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.