Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 532

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 2
Chunk 532
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 ENDED MARCH 31, 2025 AND 2024

Expected
future amortization expense of acquired finite-lived intangible assets as of March 31, 2025 is as follows:

Schedule
of Future Amortization Expense 

    For
    the Years Ending March 31, (In thousands) 
    Amount 
  
    2026 
    $140 
  
    2027 
     130 
  
    2028 
     125 
  
    2029 
     100 
  
    2030 
     95 
  
    Thereafter 
     94 
  
    Total 
    $684 

9.
Accrued Expenses 

Accrued
expenses consisted of the following as of March 31, 2025 and 2024, respectively:

Schedule
of Accrued Liabilities 

    March 31, 2025  
    March 31, 2024 
  
    (In thousands) 
       
    As Revised 
  
    Rebates 
    $278  
    $538 
  
    Accrued taxes 
     129  
     361 
  
    Sales expense 
     267  
     205 
  
    Payroll and related 
     303  
     334 
  
    Advertising allowance 
     87  
     134 
  
    Vacation 
     359  
     389 
  
    Professional services 
     297  
     94 
  
    Accrued stockholder distributions 
     —  
     659 
  
    Interest 
     —  
     75 
  
    Accrued
    liabilities 
    $1,720  
    $2,789 

See
Note 3 for an illustration of the reported balance and the revised balance for Accrued expenses for the period ended March 31, 2024.

10.
Debt

Line
of Credit 

The
Company had a revolving line of credit with a bank, allowing borrowings up to $10 million, with interest at a fixed rate for a fixed
term (2.36% per annum in excess of the Daily Simple Secured Overnight Financing Rate (“SOFR”) or variable rate (“Reference
Rate”) selected by management which was 9.5% and was secured by substantially all of the Company’s assets.

On
May 31, 2024, the Company entered into a Rev