Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 247

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1A
Chunk 247
---
     8,268 
  
    Total liabilities and stockholders’ equity 
    $23,378  
    $27,615 

    For the Years Ended March 31, 
  
    (in thousands) 
    2025  
    2024 
  
    Consolidated Statements of Operations Data: 

    Cash and cash equivalents 
    $1,407  
    $502 
  
    Working capital 
     3,460  
     13,429 
  
    Total assets 
     23,378  
     27,615 
  
    Long-term obligations 
     9,462  
     9,238 
  
    Total stockholders’ equity 
     5,530  
     8,268 

21

ITEM
7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The
following management discussion and analysis of the financial position and results of operations (“MD&A”) should be read
in conjunction with the audited consolidated financial statements and related notes to the financial statements included elsewhere in
this Report. This discussion contains forward-looking statements that relate to future events or our future financial performance. These
statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance
or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied
by these forward-looking statements. These risks and other factors include, among others, those listed under “Forward-Looking Statements”
and “Risk Factors” and those included elsewhere in this report.

OVERVIEW

Zircon
is a Silicon Valley-based company operating in Northern California since 1977, leveraging its proprietary
sensor-based technology across a mix of global markets, including commercial and residential buildings, government infrastructure and
building information modeling. Zircon is focused on creating new, technical solutions for global applications in the areas of
home and workplace safety, project efficiency, and structural data analysis.

Zircon
benefits from a multi-generational customer base of professional contractors and do-it-yourselfers who rely on Zircon’s
innovative and easy-to-use products to get the job done.

RESULTS
OF OPERATIONS

The
Company’s selected financial information for fiscal 2025 and fiscal 2024 is as follows. All the data are presented in United States
dollars.

Financial
Position Analysis

The
information presented as of March