Condensed Consolidated Balance Sheet

6 Months Ended

Sep. 30, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Condensed Consolidated Balance Sheet

Note 4. Condensed Consolidated Balance Sheet

Inventories, net

Inventories, net consist of the following:

	September 30,		March 31,
	2023		2023
Raw materials	$	1,493,000	$	1,764,000
Finished goods		1,020,000		1,094,000
Inventories, net	$	2,513,000	$	2,858,000

Leases

The Company's operating leases are comprised primarily of facility leases. The Company did not have any finance leases as of September 30, 2023 and March 31, 2023. Balance sheet information related to our leases is presented below:

	September 30,		March 31,
	2023		2023
Operating leases:
Operating lease right-of-use assets	$	350,000	$	418,000
Operating lease liabilities – current		216,000		256,000
Operating lease liabilities – non- current		134,000		162,000

Other information related to leases is presented below:

Six Months Ended September 30, 2023
Operating lease cost	$	216,000
Other information:
Operating cash flows from operating leases		(79,000	)
Weighted-average remaining lease term – operating leases (in months)		19.3
Weighted-average discount rate – operating leases		6.00%

As of September 30, 2023, the annual minimum lease payments of our operating lease liabilities were as follows:

For Years Ending March 31,
2024 (excluding the six months ended September 30, 2023)	$	81,000
2025		144,000
2026		157,000
2027		9,000
Total future minimum lease payments, undiscounted		391,000
Less: imputed interest		(41,000	)
Present value of future minimum lease payments	$	350,000