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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2021
Mar. 31, 2021
Current Assets:    
Cash and cash equivalents $ 4,418,000 $ 5,245,000
Short term investments 24,061,000 25,045,000
Accounts receivable, net 1,089,000 691,000
Inventory 1,977,000 1,961,000
Prepaid purchases 741,000 361,000
Prepaid expenses and other current assets 281,000 289,000
Total Current Assets 32,567,000 33,592,000
Non-Current Assets:    
Right-of-use asset-operating leases 153,000 213,000
Right-of-use asset-finance leases 3,000 3,000
Other assets 94,000 94,000
Total Non-Current Assets 250,000 310,000
Total Assets 32,817,000 33,902,000
Current Liabilities:    
Accounts payable and other current liabilities 747,000 788,000
Paycheck Protection Program loan 204,000 204,000
Due to affiliate 2,000 1,000
Short-term operating lease liability 113,000 152,000
Short-term finance lease liability 1,000 1,000
Income tax payable, current portion 195,000 195,000
Deferred revenue 130,000 195,000
Total Current Liabilities 1,392,000 1,536,000
Non-Current Liabilities:    
Long-term operating lease liability 57,000 82,000
Long-term finance lease liability 2,000 3,000
Income tax payable 1,836,000 1,836,000
Total Non-Current Liabilities 1,895,000 1,921,000
Total Liabilities 3,287,000 3,457,000
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 June 30, 2021 and March 31, 2021, respectively; 21,042,652 shares outstanding at June 30, 2021 and March 31, 2021, respectively 529,000 529,000
Additional paid-in capital 79,792,000 79,792,000
Accumulated deficit (20,900,000) (19,985,000)
Treasury stock, at cost (31,923,145 shares at June 30, 2021 and March 31, 2021, respectively) (33,201,000) (33,201,000)
Total Shareholders’ Equity 29,530,000 30,445,000
Total Liabilities and Shareholders’ Equity $ 32,817,000 $ 33,902,000