XML 13 R3.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Dec. 31, 2020
Mar. 31, 2020
Current Assets:    
Cash and cash equivalents $ 30,513,000 $ 6,276,000
Short term investments 0 28,101,000
Accounts receivable, net 1,465,000 484,000
Inventory 1,876,000 1,918,000
Prepaid purchases 509,000 250,000
Prepaid expenses and other current assets 384,000 327,000
Total Current Assets 34,747,000 37,356,000
Non-Current Assets:    
Property and equipment, net 2,000 4,000
Right-of-use asset-operating leases 272,000 442,000
Right-of-use asset-finance leases 4,000 5,000
Other assets 94,000 94,000
Total Non-Current Assets 372,000 545,000
Total Assets 35,119,000 37,901,000
Current Liabilities:    
Accounts payable and other current liabilities 928,000 592,000
Paycheck Protection Program loan 204,000  
Due to affiliate 1,000  
Short-term operating lease liability 191,000 241,000
Short-term finance lease liability 1,000 1,000
Income tax payable, current portion 195,000 195,000
Deferred revenue 260,000 180,000
Total Current Liabilities 1,780,000 1,209,000
Non-Current Liabilities:    
Long-term operating lease liability 105,000 234,000
Long-term finance lease liability 3,000 4,000
Income tax payable 1,836,000 2,033,000
Total Non-Current Liabilities 1,944,000 2,271,000
Total Liabilities 3,724,000 3,480,000
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 December 31, 2020 and March 31, 2020, respectively; 21,042,652 shares outstanding at December 31, 2020 and March 31, 2020, respectively 529,000 529,000
Additional paid-in capital 79,792,000 79,792,000
Accumulated deficit (19,035,000) (16,009,000)
Treasury stock, at cost (31,923,145 shares at December 31, 2020 and March 31, 2020, respectively) (33,201,000) (33,201,000)
Total Shareholders’ Equity 31,395,000 34,421,000
Total Liabilities and Shareholders’ Equity $ 35,119,000 $ 37,901,000