Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 662

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 5
Chunk 662
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ITEM
1. Financial Statements.

ZRCN
Inc.

CONSOLIDATED
BALANCE SHEETS

(in
thousands, except share data)

    March
    31, 2025  
    March
    31, 2024 

    (As Revised) 
  
    ASSETS 

    Current assets: 

    Cash 
    $1,407  
    $502 
  
    Accounts receivable, net
    of provision for credit losses of $53 and $14, respectively 
     6,102  
     8,644 
  
    Inventory, net 
     12,456  
     14,057 
  
    Prepaid
    expenses and other assets 
     294  
     335 
  
    Total current assets 
     20,259  
     23,538 

    Property and equipment,
    net 
     1,594  
     1,803 
  
    Deferred tax asset 
     —  
     499 
  
    Operating lease right-of-use
    assets 
     558  
     751 
  
    Federal tax deposit 
     28  
     213 
  
    Intangible assets, net 
     684  
     792 
  
    Deposits 
     19  
     19 
  
    Deferred
    financing costs 
     236  
     — 
  
    Total
    assets 
    $23,378  
    $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