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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Mar. 31, 2024
Current assets:    
Cash and cash equivalents $ 2,772 $ 7,910
Restricted cash 1,351
Accounts receivable, net 2,747 1,035
Inventories, net 4,484 2,230
Prepaid and other current assets 1,127 742
Total current assets 12,481 11,917
Non-current assets:    
Property and equipment, net 510 502
Operating lease right of use asset 70 143
Deferred offering costs 139
Other non-current assets 34 47
Total non-current assets 753 692
Total Assets 13,234 12,609
Current liabilities:    
Trade payables 1,739 1,584
Accrued expenses (including $1,143 of delinquent payroll taxes as of December 31, 2024) 3,439 2,697
Trade finance facility 2,703
Short-term borrowings, net of discount of $941 1,917
Convertible note 2,000  
Operating lease obligations, current portion 66 101
Unearned revenue 459 420
Total current liabilities 12,323 4,802
Non-current liabilities:    
Operating lease obligations, long-term portion 4 44
Total non-current liabilities 4 44
Total Liabilities 12,327 4,846
Shareholders’ equity:    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding as of December 31, 2024 and March 31, 2024, respectively
Common stock; $0.0001 par value; 100,000,000 shares authorized; 16,557,889 and 15,653,449 shares issued and outstanding as of December 31, 2024 and March 31, 2024, respectively 1 1
Additional paid-in capital 58,603 56,824
Accumulated other comprehensive loss (106) (85)
Accumulated deficit (57,591) (48,977)
Total shareholders’ equity 907 7,763
Total Liabilities and Shareholders’ Equity $ 13,234 $ 12,609