Company: ECIA
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001079973-25-001132
Chunk: 51

Company: ENCISION INC
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 51
---
 2024 
  
    Net income (loss) 
    $(220,198) 
    $(691,783)
  
    Weighted-average shares — basic 
     11,879,645  
     11,770,391 
  
    Effect of dilutive potential common shares 
     —  
     — 
  
    Weighted-average shares — basic and diluted 
     11,879,645  
     11,770,391 
  
    Net loss per share — basic and diluted 
    $(0.02) 
    $(0.06)
  
    Antidilutive equity units 
     1,016,249  
     751,000 

Recently Issued Accounting Pronouncements.

In November 2023, the FASB issued ASU 2023-07,
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to
include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures
regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported
measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit
or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within
fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. See Note 2 for changes to
our reportable segment disclosures.

In December 2023, the FASB issued ASU 2023-09,
Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate
reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 and
are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We continue to evaluate the impact
of this update on our financial statements, but do not expect any changes to our current reportable segments.

In November 2024, the FASB issued ASU 2024-03,
Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement
Expenses, which requires disclosure