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Consolidated Balance Sheets (Unaudited) - USD ($)
Dec. 31, 2022
Mar. 31, 2022
Current Assets:    
Cash and cash equivalents $ 27,294,000 $ 25,576,000
Accounts receivable, net 927,000 1,294,000
Licensing receivable 191,000 0
Inventory 2,345,000 2,112,000
Prepaid purchases 644,000 141,000
Prepaid expenses and other current assets 254,000 390,000
Total Current Assets 31,655,000 29,513,000
Non-Current Assets:    
Property and equipment, net 2,000 2,000
Right-of-use asset-operating leases 244,000 403,000
Right-of-use asset-finance leases 2,000 2,000
Other assets 90,000 90,000
Total Non-Current Assets 338,000 497,000
Total Assets 31,993,000 30,010,000
Current Liabilities:    
Accounts payable and other current liabilities 514,000 758,000
Due to affiliate 1,000 0
Short-term operating lease liability 145,000 211,000
Short-term finance lease liability 1,000 1,000
Income tax payable, current portion 401,000 195,000
Advanced deposits 4,100,000 0
Deferred revenue 182,000 210,000
Total Current Liabilities 5,344,000 1,375,000
Non-Current Liabilities:    
Long-term operating lease liability 98,000 201,000
Long-term finance lease liability 1,000 2,000
Income tax payable 1,202,000 1,613,000
Total Non-Current Liabilities 1,301,000 1,816,000
Total Liabilities 6,645,000 3,191,000
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 December 31, 2022 and March 31, 2022, respectively; 21,042,652 shares outstanding at December 31, 2022 and March 31, 2022, respectively 529,000 529,000
Additional paid-in capital 79,792,000 79,792,000
Accumulated deficit (25,082,000) (23,611,000)
Treasury stock, at cost (31,923,145 shares at December 31, 2022 and March 31, 2022, respectively) (33,201,000) (33,201,000)
Total Shareholders’ Equity 25,348,000 26,819,000
Total Liabilities and Shareholders’ Equity $ 31,993,000 $ 30,010,000