Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 535

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 2
Chunk 535
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 not
object. Issuers that are found to have violated Section 13(k) of the Exchange Act may be subject to civil sanctions, including injunctive
remedies and monetary penalties, as well as criminal sanctions. In accordance with ASC 450, Contingencies, no amounts have been
accrued for a loss contingency as it is not estimable as of March 31, 2025. The imposition of any of such sanctions could have a material
adverse effect on our business, financial position, results of operations or cash flows.

11.
Profit Sharing and 401(k) Plan

The
Company has a defined contribution profit sharing plan for all eligible employees. Contributions to the profit sharing plan are determined
annually by the Board of Directors. There were no profit sharing contributions made during the
years ended March 31, 2025 and 2024.

All
eligible employees are also allowed to participate in the Company’s 401(k) plan. The Company’s contributions to the plan
are based on a specified percentage of each participant’s eligible contribution, decided annually by the Board of Directors, as
defined in the plan document. For the years ended March
31, 2025 and 2024, the Company made contributions to the 401(k) plan of less than $0.1 million, respectively.

    F-21

ZRCN
                                            Inc.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED MARCH 31, 2025 AND 2024

12.
Equity

On
February 28, 2024 the Company adopted a 2024 Equity Incentive Plan (the “Equity Plan”). The Plan provides for granting of
stock options (“Options”), restricted stock units (“RSUs”), and other equity-based awards tied to the value of
shares of common stock to key personnel, including directors, officers, employees, consultants, and advisors of the Company and its subsidiaries.
The Plan provides for the grant of options (which may include “incentive stock options” (“ISOs”) within the meaning
of Section 422 of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”)), stock appreciation rights
(“SARs”), restricted stock, restricted stock units (“RSUs”), and other stock-based awards. As of March 31, 2025,
40,000,000 shares are authorized for issuance and 36,883,