Company: ZRCN
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006748
Chunk: 18

Company: ZRCN Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 8
Chunk 18
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 2023

7.
Property and Equipment 

Property
and equipment consisted of the following:

Schedule
of Plant and Equipment 

    December 31, 2024  
    March 31, 2024 
  
    (In thousands) 
    (Unaudited)  
    (Audited) 
  
    Manufacturing equipment 
    $9,932  
    $9,315 
  
    Computer equipment 
     2,824  
     2,774 
  
    Leasehold improvements 
     1,150  
     1,218 
  
    Furniture and office equipment 
     904  
     955 
  
    Vehicles 
     272  
     275 
  
    Property
    and equipment, gross 
     15,082  
     14,537 
  
    Construction in progress 
     176  
     423 
  
    Property
    and equipment before accumulated depreciation and amortization 
     15,258  
     14,960 
  
    Less accumulated depreciation and amortization 
     (13,518) 
     (13,157)
  
    Property
    and equipment, net 
    $1,740  
    $1,803 

For
the three and nine months ended December 31, 2024, depreciation and amortization expense was $0.5 million and $0.7 million, respectively.
For the three and nine months ended December 31, 2023, depreciation and amortization expense was $0.1 million and $0.4 million, respectively.

Construction
in progress consists of assets and technologies under development. The Company starts depreciation once the assets are completed and
placed in service.

8.
Intangible Assets

The
Company’s intangible assets consisted of the following:

Schedule
of Intangible Assets 

    December 31, 2024  
    March 31, 2024 
  
    (In thousands) 
    (Unaudited)  
    (Audited) 
  
    Finite-lived intangible assets (1): 
    Intangibles, Gross  
    Accumulated Amortization  
    Intangibles, Net  
    Intangibles, Gross  
    Accumulated Amortization  
    Intangibles, Net 
  
    Patents issued and pending 
    $2,342  
    $(1,685) 
    $657