Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 904

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 8
Chunk 904
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18

ZRCN
                                            Inc.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED MARCH 31, 2025 AND 2024

7.
Property and Equipment 

Property
and equipment consisted of the following:

Schedule
of Plant and Equipment 

    (In
    thousands) 
    March
    31, 2025  
    March
    31, 2024 
  
    Manufacturing
    equipment 
    $9,806  
    $9,315 
  
    Computer
    equipment 
     2,824  
     2,774 
  
    Leasehold
    improvements 
     1,155  
     1,218 
  
    Furniture
    and office equipment 
     908  
     955 
  
    Vehicles 
     272  
     275 
  
    Property
    and equipment, gross 
     14,965  
     14,537 
  
    Construction
    in progress 
     363  
     423 
  
    Property
    and equipment before accumulated depreciation and amortization 
     15,328  
     14,960 
  
    Less
    accumulated depreciation and amortization 
     (13,734) 
     (13,157)
  
    Property
    and equipment, net 
    $1,594  
    $1,803 

For
the years ended March 31, 2025 and 2024, depreciation and amortization expense was $1.0
million and $0.7 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 

    (In thousands) 
    March 31, 2025  
    March 31, 2024 
  
    Finite-lived intangible assets (1): 
    Intangibles, Gross  
    Accumulated Amortization  
    Intangibles, Net  
    Intangibles, Gross  
    Accumulated Amortization  
    Intangibles, Net 
  
    Patents issued and pending 
    $2,335  
    $(1,708) 
    $627  
    $2,340