8. LEASES

12 Months Ended

Mar. 31, 2022

LEASES

NOTE 8 - LEASES

NOTE 8—LEASES

The Company has operating leases for corporate offices, and research and development facilities. The Company’s leases have remaining lease terms of 1 month to 23 months, some of which include options to extend for up to 5 years.

Supplemental balance sheet information related to leases was as follows:

	As of		As of
	March 31, 2022		March 31, 2021
	(In thousands)
Operating Leases
Operating lease right-of-use assets	$	889	$	677
Lease liabilities-current	$	537	$	375
Lease liabilities-non-current		361		324
Total operating lease liabilities	$	898	$	699

The following table provides the details of lease costs:

	Year Ended March 31,
	2022		2021
	(In thousands)
Operating lease cost	$	429	$	660
Short-term lease cost		254		48
	$	683	$	708

The following table provides other information related to leases:

	Year Ended March 31,
	2022		2021
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	436	$	673
Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	585	$	658
Weighted-average remaining lease term (years):
Operating leases		1.7		2.1
Weighted-average discount rate:
Operating leases		4.25%		4.70%

The following table provides the maturities of the Company’s operating lease liabilities as of March 31, 2022:

	Operating Lease
	Liabilities
Fiscal Year	(In thousands)
2023	$	548
2024		382
Total undiscounted future cash flows		930
Less: Imputed interest		(32)
Present value of undiscounted future cash flows	$	898
Presentation on statement of financial position
Current	$	537
Non-current	$	361