Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 648

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 5
Chunk 648
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Market
Information

Our
common stock is on the OTCQX Market. There have been fewer than fifty trades since the shares were listed on February 24, 2025.

Holders
of Our Common Stock

As
of March 31, 2025, there were 103 stockholders of record of our common stock.

Dividend
Policy

We
have never declared or paid cash dividends on our capital stock. We intend to retain all available funds and future earnings, if any,
to fund the development and expansion of our business, and we do not anticipate declaring or paying any cash dividends in the foreseeable
future. Any future determination regarding the declaration and payment of dividends, if any, will be at the discretion of our board of
directors and will depend on then-existing conditions, including our financial condition, results of operations, contractual restrictions,
capital requirements, business prospects, and other factors our board of directors may deem relevant.

Recent
Sales of Unregistered Securities

There
have been no sales of unregistered securities during the three months ended March 31, 2025.

20

SELECTED
FINANCIAL DATA

The
following selected consolidated financial information has been derived from the audited consolidated financial statements of Zircon.
The information set forth below is not necessarily indicative of results of future operations and should be read in conjunction with
“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial
statements and notes to those statements included therein.

    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