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Note 14 - Contractual Obligations and Other Commitments
9 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Commitments Disclosure [Text Block]

NOTE 14 – CONTRACTURAL OBLIGATIONS AND OTHER COMMITMENTS

 

Legal Contingencies

We are involved, from time to time, in litigation and proceedings arising out of the ordinary course of business. There are no pending material legal proceedings or environmental investigations to which we are a party or to which our property is subject.

 

Product Liability

As of December 31, 2022 and March 31, 2022, there were no claims against us for product liability.

 

COVID-19 Pandemic

 

The Company had reduced revenues in the electronic and chemical segments as a result of the Covid pandemic. In the electronic segment certain orders of medical devices manufactured by the Company were reduced or delayed due to the cessation of elective surgeries during the pandemic and generally reduced activities by customers. In the chemical segment certain of the Company’s water-based industrial coatings and adhesives orders were reduced due to some customers having shutdowns or reduced activities during the pandemic. We intend to continue to evaluate and may, in certain circumstances, take preemptive actions to preserve liquidity during the COVID-19 pandemic. As the circumstances around the COVID-19 pandemic remain uncertain, we continue to actively monitor the pandemic's impact on us, including our financial position, liquidity, results of operations, and cash flows.