Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 408

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1C
Chunk 408
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 31, 2024 

    (As Revised) 
  
    ASSETS 

    Current assets: 

    Cash 
    $1,407  
    $502 
  
    Accounts receivable, net of provision for credit losses of $53 and $14, respectively 
     6,102  
     8,644 
  
    Inventory, net 
     12,456  
     14,057 
  
    Prepaid expenses and other assets 
     294  
     335 
  
    Total current assets 
     20,259  
     23,538 

    Property and equipment, net 
     1,594  
     1,803 
  
    Deferred tax asset 
     —  
     499 
  
    Operating lease right-of-use assets 
     558  
     751 
  
    Federal tax deposit 
     28  
     213 
  
    Intangible assets, net 
     684  
     792 
  
    Deposits 
     19  
     19 
  
    Deferred financing costs 
     236  
     — 
  
    Total assets 
    $23,378  
    $27,615 

    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    Current liabilities: 

    Line of credit 
    $8,413  
    $8,026 
  
    Accounts payable 
     6,453  
     7,050 
  
    Accrued expenses 
     1,720  
     2,789 
  
    Operating lease liability, current 
     213  
     195 
  
    Notes payable, current portion 
     —  
     75 
  
    Total current liabilities 
     16,799  
     18,135 

    Operating lease liability, net of current portion 
     373  
     545 
  
    Notes payable to Stauss Family Administrative Trust, net of current portion 
     676  
     667 
  
    Total liabilities 
     17,848  
     19,347 

    Commitments and Contingencies (Note 14) 

    Stockholders’ equity: 

    Common stock; at $0.0001 par value, 200,000,000 shares authorized, 10,306,426 and 10,