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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2024
Mar. 31, 2024
Current assets:    
Cash $ 780,000 $ 707,000
Accounts receivable, net of allowance for credit losses of $11 as of September 30, 2024 and March 31, 2024 1,592,000 2,102,000
Inventories 7,185,000 7,313,000
Prepaid expenses and other current assets 568,000 469,000
Total current assets 10,125,000 10,591,000
Equipment and leasehold improvements, net 9,505,000 10,109,000
Operating lease right-of-use assets, net 4,161,000 4,284,000
Other assets 122,000 128,000
Total assets 23,913,000 25,112,000
Current liabilities:    
Accounts payable 2,132,000 1,439,000
Accrued expenses 619,000 757,000
Customer deposits 272,000 198,000
Operating lease obligations, current portion 533,000 530,000
Short term debt - bank 1,000,000 1,240,000
Current maturities of long-term debt 6,019,000 5,630,000
Total current liabilities 9,575,000 8,554,000
Long-term debt – related party 1,000,000 1,000,000
Long-term operating lease obligations 3,646,000 3,744,000
Total liabilities 14,221,000 13,298,000
Commitments and contingencies
Stockholders’ equity:    
Preferred stock of $0.01 par value, authorized 10,000,000 shares; no shares issued and outstanding 0 0
Common stock of $0.02 par value, authorized 50,000,000 shares; issued and outstanding 7,142,700 shares at September 30, 2024 and 6,947,246 shares at March 31, 2024 143,000 139,000
Additional paid-in capital 34,802,000 34,576,000
Accumulated deficit (25,253,000) (22,901,000)
Total stockholders’ equity 9,692,000 11,814,000
Total liabilities and stockholders’ equity 23,913,000 25,112,000
Related Party [Member]    
Current liabilities:    
Line of credit – related party 2,000,000 1,250,000
Nonrelated Party [Member]    
Current liabilities:    
Current maturities of long-term debt $ 3,019,000 $ 3,140,000