Company: ECIA
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001079973-25-001132
Chunk: 30

Company: ENCISION INC
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 30
---
     2026  
     23,794 
  
     2027  
     23,794 
  
     2028  
     7,931 
  
     Total  
    $55,519 

    Payment due by period 
  
    Contractual obligations 
    Totals  
    Less than 1 year  
    1-3
    years  
    3-5
    years  
    More
    than 5 years 
  
    Lease obligations 
    $696,610  
    $430,398  
    $266,212  
    $—  
    $— 
  
    EIDL note 
     150,746  
     5,275  
     10,550  
     10,550  
     124,371 
  
    U.S. Bank note 
     15,333  
     15,333  
     —  
     —  
     — 
  
    U.S. Bank note 
     55,519  
     23,794  
     31,725  
     —  
     — 
  
    Totals 
    $918,208  
    $474,800  
    $308,487  
    $10,550  
    $124,371 

Aside from
the operating lease, we do not have any material contractual commitments requiring settlement in the future.

Critical Accounting Policies and Estimates

Our discussion
and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in
accordance with accounting principles generally accepted in the United States. The preparation
of these financial statements requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, sales
and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis, we evaluate our estimates, including
those related to bad debts, inventories, sales returns, warranty, contingencies and litigation.
We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances,
the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. Actual results may differ from these estimates under different assumptions or conditions. We believe the following
critical accounting policies affect the more significant judgments and estimates used in the preparation