PROPERTY, PLANT AND EQUIPMENT, NET

12 Months Ended

Mar. 31, 2026

PROPERTY, PLANT AND EQUIPMENT, NET

PROPERTY, PLANT AND EQUIPMENT, NET

NOTE 10 - PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment included the following as of:	March 31, 2026		March 31, 2025
Land	$	110	$	110
Building and improvements		3,294		3,294
Machinery and equipment, furniture, and fixtures		25,723		26,605
Construction-in-progress		147		147
Total property, plant, and equipment		29,274		30,156
Less: accumulated depreciation		(18,400)		(16,365)
Total property, plant and equipment, net	$	10,874	$	13,791

In fiscal 2026 and 2025, we recorded depreciation expense of $2,049 and $2,087, respectively, in our cost of revenue. In fiscal 2026 and 2025, we recorded disposals with book values of $0 and $1, respectively.

The Company also has an agreement to make additional equipment upgrades for a certain customer. We recognize new purchases as a fixed asset and billings for reimbursement from the customer as a contra-asset. Future depreciation of the asset will be offset directly by the amortization of the contra-asset on a net basis in the statement of operations. The amortization period will match the schedule of depreciation set forth under the fixed asset ledger.