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CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Mar. 31, 2019
Current Assets:    
Cash and cash equivalents $ 6,276,000 $ 7,917,000
Short term investments 28,101,000 28,371,000
Accounts receivable, net 484,000 604,000
Inventory 1,918,000 3,520,000
Prepaid purchases 250,000 417,000
Prepaid expenses and other current assets 327,000 424,000
Total Current Assets 37,356,000 41,253,000
Non-Current Assets:    
Property and equipment, net 4,000 6,000
Deferred tax assets, net 0 448,000
Right-of-use asset-operating leases 442,000  
Right-of-use asset-finance leases 5,000  
Other assets 94,000 154,000
Total Non-Current Assets 545,000 608,000
Total Assets 37,901,000 41,861,000
Current Liabilities:    
Accounts payable and other current liabilities 592,000 545,000
Short-term operating lease liability 241,000  
Short-term finance lease liability 1,000  
Income tax payable, current portion 195,000 250,000
Deferred revenue 180,000 165,000
Total Current Liabilities 1,209,000 960,000
Non-Current Liabilities:    
Long-term operating lease liability 234,000  
Long-term finance lease liability 4,000  
Income tax payable 2,033,000 2,173,000
Total Non-Current Liabilities 2,271,000 2,173,000
Total Liabilities 3,480,000 3,133,000
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 March 31, 2020 and March 31, 2019, respectively; 21,042,652 shares outstanding at March 31, 2020 and March 31, 2019, respectively 529,000 529,000
Additional paid-in capital 79,792,000 79,792,000
Accumulated deficit (16,009,000) (11,702,000)
Treasury stock, at cost (31,923,145 shares at March 31, 2020 and March 31, 2019, respectively) (33,201,000) (33,201,000)
Total Shareholders’ Equity 34,421,000 38,728,000
Total Liabilities and Shareholders’ Equity $ 37,901,000 $ 41,861,000