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Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2023
Mar. 31, 2023
Current Assets:    
Cash and cash equivalents $ 20,871,000 $ 25,268,000
Accounts receivable, net 1,833,000 1,165,000
Licensing receivable 12,000 245,000
Inventory 5,740,000 3,813,000
Prepaid purchases 380,000 247,000
Prepaid expenses and other current assets 414,000 357,000
Total Current Assets 29,250,000 31,095,000
Non-Current Assets:    
Property and equipment, net 76,000 1,000
Right-of-use asset-operating leases 371,000 200,000
Right-of-use asset-finance leases 800 1,000
Other assets 84,000 74,000
Total Non-Current Assets 532,000 276,000
Total Assets 29,782,000 31,371,000
Current Liabilities:    
Accounts payable and other current liabilities 580,000 641,000
Short-term operating lease liability 162,000 139,000
Short-term finance lease liability 1,000 1,000
Income tax payable, current portion 622,000 401,000
Advanced deposits 0 3,316,000
Deferred revenue 0 149,000
Total Current Liabilities 1,366,000 4,648,000
Non-Current Liabilities:    
Long-term operating lease liability 219,000 62,000
Long-term finance lease liability 0 0
Income tax payable 668,000 1,202,000
Total Non-Current Liabilities 887,000 1,264,000
Total Liabilities 2,253,000 5,912,000
Shareholders’ Equity:    
Series A Preferred shares — 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000 3,310,000 3,310,000
Common shares — $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at September 30, 2023 and March 31, 2023, respectively; 21,042,652 shares outstanding at September 30, 2023 and March 31, 2023, respectively 529,000 529,000
Additional paid-in capital 79,792,000 79,792,000
Accumulated deficit (22,901,000) (24,971,000)
Treasury stock, at cost (31,923,145 shares at September 30, 2023 and March 31, 2023, respectively) (33,201,000) (33,201,000)
Total Shareholders’ Equity 27,529,000 25,459,000
Total Liabilities and Shareholders’ Equity 29,782,000 31,371,000
Related Party [Member]    
Current Liabilities:    
Due to affiliate $ 1,000 $ 1,000