Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 112

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 1
Chunk 112
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Overview

We
are a Silicon Valley-based company operating in Northern California since 1977. Leveraging our proprietary
sensor-based technology across a mix of global markets, including commercial and residential buildings, government infrastructure and
building information modeling, we are focused on creating new, technical solutions for global applications in the areas of home
and workplace safety, project efficiency, and structural data analysis.

We
have amassed a multi-generational customer base of professional contractors and do-it-yourself practitioners who rely on Zircon’s innovative
and easy-to-use products to get the job done.

We
recently launched SuperScan® advanced technology , our most innovative solution to date. We believe that this is a game-changing
hand-held stud finder that will help millions of contractors and do-it-yourselfers better understand what’s behind a wall surface.
In addition to locating wood studs, Wood Stud SuperScan® stud finder, also recognizes and filters out metallic and low-density objects,
delivering a more accurate picture of wooden objects behind the wall surface.

Our
Products

Building
on over four decades of proprietary technology development and an extensive patent portfolio, we are the manufacturer of the original
StudSensor™ stud finder, and a growing line of electronic hand tools, including MultiScanner™ wall scanners, MetalliScanner®
metal detectors, and other electronic scanning, water detection and leveling tools.

5

Markets
and Distribution

Our
products are sold primarily to tool retailers for sale to do-it-yourself (DIY) enthusiasts and professional tool users throughout the
world.

During
the years ended March 31, 2025 and 2024, we generated approximately 69% and 72% of our total revenue from three customers, respectively.
Accounts receivable from these customers amounted to approximately 70% and 77% of total accounts receivable as of March 31, 2025 and
2024, respectively.

Intellectual
Property

Our
policy is to protect and enhance the proprietary technologies, inventions, and improvements that are commercially important to our business
by filing patent applications in the U.S. and other jurisdictions related to our proprietary technology, inventions, improvements, and
products. We also rely on tradenames, trademarks, trade secrets, and know-how relating to our proprietary technologies and products,
continuing innovation, and in licensing technology and products. This reliance is expected to develop, maintain, and strengthen our proprietary
position for our products. We consider our Intellectual Property, including patents, tradenames, trademarks