Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 259

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1A
Chunk 259
---
 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.

CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(in
thousands, except share data)

    2025  
    2024 

    For
    the Year Ended March 31, 

    2025  
    2024 
  
    Net sales 
    $28,075  
    $31,519 
  
    Cost of sales 
     16,936  
     17,690 
  
    Gross profit 
     11,139  
     13,829 

    Operating expenses: 

    General and administrative 
     7,354  
     6,702 
  
    Marketing and selling 
     4,528  
     4,373