Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 263

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1A
Chunk 263
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24,570) 
     (10,098)
  
    Deferred financing costs 
     (326) 
     — 
  
    Bank overdraft 
     6  
     350 
  
    Stockholder contributions 
     8,220  
     — 
  
    Stockholder
    distributions 
     (8,879) 
     — 
  
    Net
    cash (used in) provided by financing activities 
     (667) 
     590 

    Effect of exchange rate fluctuations on cash 
     207  
     (132)

    Net increase in cash 
     905  
     473 
  
    Cash at beginning of period 
     502  
     29 
  
    Cash at end of period 
    $1,407  
    $502 

    Supplemental
    disclosure of cash flow information: 

    Cash paid for interest 
    $740  
    $665 
  
    Cash paid for taxes 
    $473  
    $149 

    Noncash investing and financing
    activities: 

    Right-of-use assets
    obtained in exchange for operating lease liability 
    $55  
    $— 
  
    Stockholder distributions
    accrued 
    $—  
    $659 
  
    Common stock issued
    in connection with Harmony merger 
    $—  
    $19 
  
    Fair value of Advisor
    Warrants issued to effectuate Harmony Merger 
    $—  
    $302 
  
    Assets acquired in Harmony
    Merger 
    $—  
    $1 
  
    Liabilities assumed
    in Harmony Merger 
    $—  
    $(579)
  
    Noncash settlement of
    Stauss note payable for settlement of note receivable from 
    $—  
    $240 

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

F-5

ZRCN
Inc.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED MARCH 31, 2025 AND 2024

1.
Organization

The
Business

Zircon
Corporation (“Zircon”), ZRCN Inc. (“ZRCN” or the “Company”) wholly-owned subsidiary, was incorporated
in California in 1977. The Company, through Zircon, is principally engaged