Note 6 - Commitments and Contingencies

12 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE 6 — COMMITMENTS AND CONTINGENCIES:

The Company’s ERP software provider is subscription based with annual commitments as follows (in thousands).

Fiscal Years	Amount
2024	$	25
2025		—
2026		—
2027		—
2028		—
Thereafter		—
Total	$	25

Rent expense resulting from leases with non-affiliated companies aggregated $86,000 and $92,000 for fiscal 2023 and 2022.

Letters of Credit:

The Company utilizes the services of one of its banks to issue secured letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At March 31, 2023 and March 31, 2022, the Company had no letters of credit outstanding.

Capital Expenditure:

As of March 31, 2023 and March 31, 2022, there were no capital expenditures or other commitments other than the normal purchase orders used to secure product.

Employee Benefit Plan:

The Company currently sponsors a defined contribution 401(k) retirement plan which is subject to the provisions of the Employee Retirement Income Security Act. The Company matches a percentage of the participants’ contributions up to a specified amount. These contributions to the plan for fiscal 2023 and 2022 were $19,000 and $22,000, respectively, and were charged against earnings for the periods presented.