Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Provision for Income Tax Expense

The Company’s provision for income tax expense for fiscal 2022 and fiscal 2021 was as follows:

	2022		2021
	(In thousands)
Current:
Federal	$	—	$	—
Foreign, state and other		—		—
Deferred:
Federal		—		—
Foreign, state and other		—		—
Provision for income tax expense	$	—	$	—

Effective Rate Reflected in Provision for Income Taxes and Amounts Determined by Applying Statutory Federal Rate

The difference between the effective rate reflected in the provision for income taxes and the amounts determined by applying the statutory federal rate of 21% to earnings before income taxes for fiscal 2022 and fiscal 2021 is analyzed below

	2022			2021
	(In thousands)
Statutory provision	$	(765	)	$	(832	)
Foreign subsidiary		(4	)		(14	)
State taxes		(180	)		(199	)
Permanent differences		12			31
Adjustment to prior year taxes		93			399
Valuation allowance		844			615
Provision for income tax expense	$	—		$	—

Components of Deferred Tax Assets Classified as Non-Current

As of March 31, 2022 and March 31, 2021, the significant components of the Company’s deferred tax assets which were classified as non-current, were as follows:

	2022			2021
	(In thousands)
Deferred tax assets:
Accounts receivable reserves	$	34		$	32
Inventory reserves		209			162
Accruals		14			18
Property and equipment and intangible assets		39			67
Net operating loss and credit carry forwards		4,064			3,237
Valuation allowance		(4,360	)		(3,516	)
Total deferred tax assets	$	—		$	—

State Net Operating Loss

The Company has $17.6 million of state NOLs as of March 31, 2022 as follows

Loss Year (Fiscal)	Included in DTA	Expiration Year (Fiscal)
2016	$1.4 million		2034
2017	$0.8 million		2036
2018	$2.6 million	2037
2019	$2.7 million	2038
2020	$3.0 million	2039
2021	$3.7 million	2040
2022	$3.4 million	2041
Total	$17.6 million