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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Jun. 30, 2019
Mar. 31, 2019
Current Assets:    
Cash and cash equivalents $ 7,260,000 $ 7,917,000
Short term investments 28,584,000 28,371,000
Accounts receivable, net 860,000 604,000
Royalty receivable 3,000 3,000
Inventory 3,355,000 3,520,000
Prepaid purchases 15,000 417,000
Prepaid expenses and other current assets 353,000 421,000
Total Current Assets 40,430,000 41,253,000
Non-Current Assets:    
Property, plant, and equipment, net 6,000 6,000
Deferred tax assets, net 448,000 448,000
Right-of-use asset-operating leases 599,000  
Right-of-use asset-finance leases 5,000  
Other assets 154,000 154,000
Total Non-Current Assets 1,212,000 608,000
Total Assets 41,642,000 41,861,000
Current Liabilities:    
Accounts payable and other current liabilities 720,000 545,000
Short-term operating lease liability 227,000  
Short-term finance lease liability 1,000  
Due to affiliate 1,000  
Income tax payable, current portion 195,000 250,000
Deferred revenue 110,000 165,000
Total Current Liabilities 1,254,000 960,000
Non-Current Liabilities:    
Long-term operating lease liability 416,000  
Long-term finance lease liability 4,000  
Income tax payable 2,227,000 2,173,000
Total Non-Current Liabilities 2,647,000 2,173,000
Total Liabilities 3,901,000 3,133,000
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 June 30, 2019 and March 31, 2019, respectively; 21,042,652 shares outstanding at June 30, 2019 and March 31, 2019, respectively 529,000 529,000
Additional paid-in capital 79,792,000 79,792,000
Accumulated deficit (12,689,000) (11,702,000)
Treasury stock, at cost (31,923,145 shares at June 30, 2019 and March 31, 2019, respectively) (33,201,000) (33,201,000)
Total Shareholders’ Equity 37,741,000 38,728,000
Total Liabilities and Shareholders’ Equity $ 41,642,000 $ 41,861,000