Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 422

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1C
Chunk 422
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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 10,016,936 shares issued and outstanding as of March 31, 2025 and March 31, 2024, respectively 
     1  
     1 
  
    Additional paid-in capital 
     8,532  
     — 
  
    Accumulated other comprehensive
    loss 
     (347) 
     (187)
  
    (Accumulated
    deficit) Retained earnings 
     (4,297) 
     6,762 
  
    Total
    equity attributable to ZRCN Inc. stockholders 
     3,889  
     6,576 
  
    Non-controlling
    interests in variable interest entities 
     1,641  
     1,692 
  
    Total
    stockholders’ equity 
     5,530  
     8,268 
  
    Total
    liabilities and stockholders’ equity 
    $23,378  
    $27,615 

The
accompanying notes are an integral part of these consolidated financial statements.

F-2

ZRCN
Inc.

CONS