Note 10 - Governmental Assistance Programs

6 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Government Assistance [Text Block]

NOTE 10 — GOVERNMENTAL ASSISTANCE PROGRAMS  

During the three month periods ended September 30, 2022 and September 30, 2021, the Company’s Hong Kong subsidiary recorded $8,000 and nil, respectively, under the governmental program called the Employment Support Scheme (“ESS”). The proceeds must be used for payroll expenses and the Company may be subject to government-appointed random reviews to verify the information submitted by the applicant. During the three month periods ended September 30, 2022 and September 30, 2021, the Company recorded nil and $207,000, respectively, related to forgiveness of the Company's Paycheck Protection Program (”PPP”) loan.

During the six month periods ended September 30, 2022 and September 30, 2021, the Company’s Hong Kong subsidiary recorded $30,000 and nil, respectively, under the ESS. During the six month periods ended September 30, 2022 and September 30, 2021, the Company recorded nil and $207,000, respectively, related to forgiveness of the Company's PPP loan.

The income realized from the amount granted under the ESS program and the PPP loan forgiveness are presented as Other Income under the description called “Income from governmental assistance programs” in the Consolidated Statements of Operations.