Note 10 - Governmental Assistance Programs

9 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Government Assistance [Text Block]

NOTE 10 — GOVERNMENTAL ASSISTANCE PROGRAMS  

During the three month periods ended December 31, 2022 and December 31, 2021, the Company’s Hong Kong subsidiary recorded $4,000 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 nine month periods ended December 31, 2022 and December 31, 2021, the Company’s Hong Kong subsidiary recorded $34,000 and nil, respectively, under the ESS. During the nine month periods ended December 31, 2022 and December 31, 2021, the Company recorded nil and $207,000, respectively, related to forgiveness of the Company's Paycheck Protection Program (”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.