Modular Medical (MODD) 10-K 21 Jun 24 2024 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Mar. 31, 2024	Jun. 17, 2024	Sep. 29, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Information [Line Items]
Entity Registrant Name	MODULAR MEDICAL, INC.
Entity Central Index Key	0001074871
Entity File Number	001-41277
Entity Tax Identification Number	87-0620495
Entity Incorporation, State or Country Code	NV
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Public Float			$ 17,971,555
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	10470 Thornmint Road
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92127
Entity Phone Fax Numbers [Line Items]
City Area Code	(858)
Local Phone Number	800-3500
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	MODD
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		32,536,700

Audit Information

Audit Information	12 Months Ended
	Mar. 31, 2024
Auditor [Table]
Auditor Name	Farber Hass Hurley LLP
Auditor Firm ID	223
Auditor Location	Chatsworth, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 9,232	$ 3,799
Prepaid expenses and other	465	147
Security deposit		100
TOTAL CURRENT ASSETS	9,697	4,046
Property and equipment, net	2,975	1,721
Right of use asset, net	1,135	1,478
TOTAL NON-CURRENT ASSETS	4,110	3,199
TOTAL ASSETS	13,807	7,245
CURRENT LIABILITIES
Accounts payable	802	285
Accrued expenses	280	339
Short-term lease liabilities	373	355
TOTAL CURRENT LIABILITIES	1,455	979
Long-term lease liabilities	817	1,190
TOTAL LIABILITIES	2,272	2,169
Commitments and Contingencies (Note 8)
STOCKHOLDERS’ EQUITY
Preferred Stock, $0.001 par value, 5,000 shares authorized, none issued and outstanding
Common Stock, $0.001 par value, 100,000 and 50,000 shares authorized as of March 31, 2024 and 2023, respectively; 32,464 and 10,949 shares issued and outstanding as of March 31, 2024 and 2023, respectively	32	11
Additional paid-in capital	77,432	53,524
Accumulated deficit	(65,929)	(48,459)
TOTAL STOCKHOLDERS’ EQUITY	11,535	5,076
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 13,807	$ 7,245

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares shares in Thousands	Mar. 31, 2024	Mar. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	100,000	50,000
Common stock, shares issued	32,464	10,949
Common stock, shares outstanding	32,464	10,949

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating expenses
Research and development	$ 12,880	$ 9,062
General and administrative	4,649	4,816
Total operating expenses	17,529	13,878
Loss from operations	(17,529)	(13,878)
Other income	61	1
Loss before income taxes	(17,468)	(13,877)
Provision for income taxes	2	2
Net loss	$ (17,470)	$ (13,879)
Net loss per share
Basic net loss per share (in Dollars per share)	$ (0.78)	$ (1.15)
Shares used in computing net loss per share
Basic shares used in computing net loss per share (in Shares)	22,377	12,103

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parentheticals) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Diluted net loss per share	$ (0.78)	$ (1.15)
Diluted shares used in computing net loss per share	22,377	12,103

Consolidated Statements of Stoc

Consolidated Statements of Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Balance at Mar. 31, 2022	$ 11	$ 43,406	$ (34,580)	$ 8,837
Balance (in Shares) at Mar. 31, 2022	10,462
Issuance of common stock in registered direct offering, net of fees and issuance costs		7,372		7,372
Issuance of common stock in registered direct offering, net of fees and issuance costs (in Shares)	449
Shares issued for services		22		22
Shares issued for services (in Shares)	11
Issuances under equity incentive plan		86		86
Issuances under equity incentive plan (in Shares)	27
Stock-based compensation		2,638		2,638
Net loss			(13,879)	(13,879)
Balance at Mar. 31, 2023	$ 11	53,524	(48,459)	$ 5,076
Balance (in Shares) at Mar. 31, 2023	10,949			10,949
Issuance of common stock in public offerings, net of fees and issuance costs	$ 20	20,045		$ 20,065
Issuance of common stock in public offerings, net of fees and issuance costs (in Shares)	20,552
At-the-market sales of stock, net		278		278
At-the-market sales of stock, net (in Shares)	154
Exercise of warrants	$ 1	883		884
Exercise of warrants (in Shares)	719
Shares issued for services		1		1
Shares issued for services (in Shares)	2
Issuances under equity incentive plan		37		37
Issuances under equity incentive plan (in Shares)	88
Stock-based compensation		2,664		2,664
Net loss			(17,470)	(17,470)
Balance at Mar. 31, 2024	$ 32	$ 77,432	$ (65,929)	$ 11,535
Balance (in Shares) at Mar. 31, 2024	32,464			32,464

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from operating activities
Net loss	$ (17,470)	$ (13,879)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	2,701	2,724
Loss on asset disposal	21
Depreciation and amortization	426	152
Shares issued for services	19	203
Changes in assets and liabilities:
Prepaid expenses and other assets	(94)	(14)
Lease right-of-use assets	342	203
Accounts payable and accrued expenses	458	(200)
Change in lease liabilities	(355)	(200)
Net cash used in operating activities	(13,952)	(11,011)
Cash flows from investing activities
Purchases of property and equipment	(1,700)	(1,638)
Net cash used in investing activities	(1,700)	(1,638)
Cash flows from financing activities
Proceeds from at-the-market sales of common stock, net	278
Proceeds from exercise of common stock warrants	742
Proceeds from public and registered direct offerings, net	20,065	7,372
Net cash provided by financing activities	21,085	7,372
Net increase (decrease) in cash and cash equivalents	5,433	(5,277)
Cash and cash equivalents, at beginning of year	3,799	9,076
Cash and cash equivalents, at end of year	9,232	3,799
Noncash investing and financing activities:
Right-of-use asset obtained in exchange for lease liability		1,561
Receivable from transfer agent for warrant exercise proceeds	142
Cash paid for:
Income taxes	$ 2	$ 2

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2024
The Company and Summary of Significant Accounting Policies [Abstract]
THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Modular Medical, Inc. (the Company) was incorporated in Nevada in October 1998 under the name Bear Lake Recreation, Inc. The Company had no material business operations from 2002 until approximately 2017 when it acquired all of the issued and outstanding shares of Quasuras, Inc., a Delaware corporation (Quasuras). As the major shareholder of Quasuras retained control of both the Company and Quasuras, the share exchange was accounted for as a reverse merger. As such, the Company recognized the assets and liabilities of Quasuras, acquired in the merger, at their historical carrying amounts. Prior to the acquisition of Quasuras and, since at least 2002, the Company was a shell company, as defined in Rule 12b-2 promulgated under the Securities Exchange Act of 1934 (the Exchange Act). In June 2017, the Company changed its name from Bear Lake Recreation, Inc. to Modular Medical, Inc. The Company is a pre-revenue, medical device company focused on the design, development and eventual commercialization of innovative insulin pumps using modernized technology to increase pump adoption in the diabetes marketplace. Through the creation of an innovative two-part patch pump, its initial product, the MODD1, the Company seeks to fundamentally alter the trade-offs between cost and complexity and access to the higher standards of care requiring considerable motivation that presently available insulin pumps provide. By simplifying and streamlining the user experience from introduction, prescription, reimbursement, training and day-to-day use, the Company seeks to expand the wearable insulin delivery device market beyond the highly motivated “super users” and expand the category into the mass market. The product seeks to serve both the type 1 and the rapidly growing, especially in terms of device adoption, type 2 diabetes markets. In January 2024, the Company submitted a 510(k) premarket notification to the United States Food and Drug Administration (FDA) for the MODD1. In March 2024, the Company received comments from the FDA on its submission, and the Company is in the process of responding to those comments. Liquidity and Going Concern The Company expects to continue to incur operating losses for the foreseeable future and incur cash outflows from operations as it continues to invest in the development and subsequent commercialization of its product. The Company expects that its research and development and general and administrative expenses will continue to increase, and, as a result, it will eventually need to generate significant revenue to achieve profitability. The Company’s expected operating losses and cash burn raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on these consolidated financial statements for the year ended March 31, 2024, expressed substantial doubt about the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments that might result from this uncertainty. Implementation of the Company’s plans and its ability to continue as a going concern will depend upon the Company’s ability to raise additional capital, through the sale of additional equity or debt securities, to support its future operations. There can be no assurance that such additional capital, whether in the form of debt or equity financing, will be sufficient or available and, if available, that such capital will be offered on terms and conditions acceptable to the Company. In, May 2023 and February 2024, the Company completed public offerings of its common stock and warrants. The Company’s operating needs include the planned costs to operate its business, including amounts required to fund working capital and capital expenditures. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its product, competing technological and market developments, and the need to enter into collaborations with other companies or acquire other companies or technologies to enhance or complement its product offering. If the Company is unable to secure additional capital, it may be required to curtail its research and development initiatives and take additional measures to reduce costs in order to conserve its cash. Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company’s fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in these notes to the consolidated financial statements refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2024 refers to the fiscal year ending March 31, 2024). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Quasuras. All significant intercompany transactions and balances have been eliminated in consolidation. Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Estimates may include those pertaining to accruals, stock-based compensation and income taxes. Actual results could differ from those estimates. Reportable Segment The Company operates in one business segment and uses one measurement of profitability for its business. Research and Development The Company expenses research and development expenditures as incurred. General and Administrative General and administrative expenses consist primarily of payroll and benefit costs, rent, stock-based compensation, legal and accounting fees, and facility and other administrative expenses. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash held in demand deposit accounts. The Company maintains its cash at high credit quality financial institutions within the United States, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to limits of approximately $250,000. No reserve has been made in the financial statements for any possible loss due to financial institution failure. Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Economic Disruptions The global outbreak of the coronavirus disease 2019 (COVID-19) was declared a pandemic by the World Health Organization and a national emergency by the U.S. government in March 2020. This negatively affected the U.S. and global economy, disrupted global supply chains, significantly restricted travel and transportation, resulted in mandated closures and orders to “shelter-in- place” and created significant disruption of the financial markets. While the U.S. national emergency expired in May 2023 and substantially all closures and “shelter-in-place” orders have ended, there can be no assurance that the COVID-19 pandemic will not impact the Company’s operational and financial performance in the future, as the duration and spread of the pandemic and related actions taken by U.S. and foreign government agencies to prevent disease spread are uncertain, out of our control, and cannot be predicted. Wars and acts of terrorism have led to further economic disruptions. Mounting inflationary cost pressures and recessionary fears have negatively impacted the global economy. Since mid-2022, at times, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains elevated. While the Company was recently able to access the capital markets, in the future, the Company may be unable to access the capital markets, and additional capital may only be available to the Company on terms that could be significantly detrimental to its existing stockholders and to its business. Cash and Cash Equivalents Cash and cash equivalents include cash held in demand deposit and money market accounts, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less. Property and Equipment Property and equipment are recorded at historical cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to five years. Depreciation is recorded in operating expenses in the consolidated statements of operations. Leasehold improvements and assets acquired through finance leases are amortized over the shorter of their estimated useful life or the lease term, and amortization is recorded in operating expenses in the consolidated statements of operations. Construction-in-process includes machinery and equipment and is stated at cost and not depreciated. Depreciation on construction-in-process commences when the assets are ready for their intended use and placed into service. Fair Value of Financial Instruments The Company measures the fair value of financial instruments using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Due to their short-term nature, the carrying values of cash equivalents, accounts payable and accrued expenses, approximate fair value. Leases The Company’s right-of-use assets consist of leased assets recognized in accordance with Financial Accounting Standards Board (FASB) ASC No. 842, Leases Stock-Based Compensation The Company periodically issues stock options, restricted stock units and stock awards to employees and non-employees. We account for such awards based on Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 718, whereby the value of the award is measured on the date of grant and recognized as compensation expense on a straight-line basis over the requisite service period, usually the vesting period. With respect to performance-based awards, the Company assesses the probability of achieving the requisite performance criteria before recognizing compensation expense. The fair value of the Company’s stock options is estimated using the Black-Scholes-Merton Option Pricing (Black Scholes) model, which uses certain assumptions related to risk-free interest rates, expected volatility, expected life of the options, and future dividends. Compensation expense is recorded based upon the value derived from the Black-Scholes model. The assumptions used in the Black-Scholes model could materially affect compensation expense recorded in future periods. Per-Share Amounts Basic net loss per share is computed by dividing loss for the period by the weighted-average number of shares of common stock outstanding (WASO) during the period. In addition, the Company includes the number of shares of common stock issuable under pre-funded warrants as outstanding for purposes of the WASO calculation. Diluted net loss per share gives effect to all potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of incremental shares of common stock issuable upon the exercise of stock options and exercise of warrants. Prior to April 1, 2023, the Company excluded pre-funded warrants from the computation of WASO. The pre-funded warrants are now included in the computation of WASO. Prior period amounts have been conformed to the current-period presentation. The impact of the change reduced the previously reported loss per share by $0.13 and increased WASO by approximately 1,223,000 shares for the year ended March 31, 2023. The reclassification had no impact on the Company’s net loss or cash flows for the year ended March 31, 2023. The following table sets forth securities outstanding which were excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive (in thousands): March 31, 2024 2023 Options to purchase common stock 3,689 2,481 Unvested restricted stock units 187 — Common stock purchase warrants 11,173 6,217 Total 15,049 8,698 Reclassifications Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flows. Income Taxes The Company determines deferred tax assets and liabilities based upon the differences between the financial statement and tax bases of the Company’s assets and liabilities using tax rates in effect for the year in which the Company expects the differences to affect taxable income. A valuation allowance is established for any deferred tax assets for which it is more likely than not that all or a portion of the deferred tax assets will not be realized. Based on the available information and other factors, management believes it is more likely than not that its federal and state net deferred tax assets will not be fully realized, and the Company has recorded a full valuation allowance. The Company accounts for uncertain tax positions in accordance with FASB ASC Topic 740, Income Taxes The Company files U.S. federal and state income tax returns in jurisdictions with varying statutes of limitations. The Company’s historical net operating loss and credit carryforwards may be adjusted by the federal and state tax authorities until the statute closes on the year in which such tax attributes are utilized. Comprehensive Loss Comprehensive loss represents the changes in equity of an enterprise, other than those resulting from stockholder transactions. Accordingly, comprehensive loss may include certain changes in equity that are excluded from net loss. For the years ended March 31, 2024 and 2023, the Company’s comprehensive loss was the same as its net loss. Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Consolidated Balance Sheet Deta

Consolidated Balance Sheet Detail	12 Months Ended
	Mar. 31, 2024
Consolidated Balance Sheet Detail [Abstract]
CONSOLIDATED BALANCE SHEET DETAIL	NOTE 2 – CONSOLIDATED BALANCE SHEET DETAIL March 31, 2024 2023 (in thousands) Prepaid and other current assets: Prepaid expenses $ 318 $ 142 Receivable from transfer agent for warrant exercise proceeds 142 — Other receivables 5 5 $ 465 $ 147 March 31, 2024 2023 (in thousands) Property and equipment, net: Machinery and equipment $ 3,209 $ 820 Computer equipment and software 66 66 Construction-in-process 283 1,003 Leasehold improvements 33 25 Office equipment 63 63 3,654 1,977 Less: accumulated depreciation and amortization (679 ) (256 ) $ 2,975 $ 1,721 March 31, 2024 2023 (in thousands) Accrued Expenses Accrued wages $ 243 $ 267 Other 37 72 $ 280 $ 339

Leases

Leases	12 Months Ended
	Mar. 31, 2024
Leases [Abstract]
LEASES	NOTE 3 – LEASES W. Bernardo Drive, San Diego, CA The 39-month lease term expired on June 30, 2023, and, subsequent to expiration, the landlord refunded the Company’s security deposit. Thornmint Road, San Diego, CA The 48-month lease term commenced February 1, 2023, and the lease provides for an initial base monthly rent of $36,000 with annual rent increases of approximately 4%. In addition to the minimum lease payments, the Company is responsible for property taxes, insurance and other certain operating costs. A discount rate of 8%, which approximated the Company’s incremental borrowing rate, was used to measure the lease asset and liability. The Company obtained a right-of-use asset of approximately $1,560,000 in exchange for its obligations under the operating lease. Future minimum payments under the facility operating lease, as of March 31, 2024, are listed in the table below (in thousands). Fiscal year ending March 31, 2025 452 2026 470 2027 405 Total future lease payments 1,327 Less: Imputed interest (137 ) Present value of lease liabilities $ 1,190 Cash paid for amounts included in the measurement of lease liabilities was approximately $476,000 and $230,000 for the years ended March 31, 2024 and 2023, respectively. Rent expense was approximately $449,000 and $237,000 for the years ended March 31, 2024 and 2023, respectively.

Stockholders_ Equity

Stockholders’ Equity	12 Months Ended
	Mar. 31, 2024
Stockholders’ Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 4 – STOCKHOLDERS’ EQUITY Increase in Authorized Shares In February 2024, the Company’s stockholders approved an amendment to the Company’s Articles of Incorporation (the Amendment) to increase the number of authorized shares of common stock from 50,000,000 shares, to 100,000,000 shares. The Amendment was filed with the state of Nevada and became effective on February 15, 2024. February 2024 Public Offering On February 15, 2024, the Company entered into an underwriting agreement (the 2024 Underwriting Agreement) with Titan Partners Group LLC, a division of American Capital Partners, LLC (Titan), with respect to the issuance and sale 9,090,910 shares of its common stock at a price of $1.10 per share in a firm commitment underwritten offering (the 2024 Offering) by the Company. Upon the closing of the 2024 Offering, the Company received aggregate proceeds of approximately $10,000,000, before deducting underwiring discounts and commissions and other offering expenses. Pursuant to the 2024 Underwriting Agreement, the Company granted Titan a 30-day option to purchase up to an additional 1,321,989 shares of common stock to cover over allotments, if any. On March 13, 2024, Titan exercised this option in full and purchased the additional securities for aggregate proceeds to the Company of approximately $1,454,000 before deducting underwriting discounts and commissions and other offering expenses. Titan was paid a cash fee of 7.0% of the aggregate gross proceeds of the 2024 Offering (including the over-allotment option) and reimbursed certain out-of-pocket expenses of approximately $75,000. ATM Offering On November 22, 2023, the Company entered into a Sales Agreement (the ATM Agreement) with Leerink Partners LLC (Leerink) under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock, for aggregate gross proceeds of up to $6,500,000 through an “at the market offering” program under which Leerink will act as sales agent or principal. The ATM Agreement provides that Leerink will be entitled to compensation for its services equal to 3.0% of the gross proceeds from sales of any shares of common stock under the ATM Agreement. The Company has no obligation to sell any shares under the ATM Agreement and may, at any time, suspend solicitation and offers under the ATM Agreement. In January 2024, under the ATM Agreement, the Company sold 153,879 shares of common stock for net proceeds of approximately $278,000. May 2023 Public Offering On May 15, 2023, the Company entered into an underwriting agreement (the Underwriting Agreement) with Newbridge Securities Corporation (the Underwriter), with respect to the issuance and sale in a firm commitment underwritten offering (the 2023 Offering) by the Company of units of its securities. Upon the closing of the 2023 Offering, the Company sold 8,816,900 shares of its common stock and warrants to purchase 4,408,450 shares of its common stock for aggregate proceeds of approximately $9,390,000, before deducting underwriting discounts and commissions and other offering expenses. The securities were sold as a unit, with each unit consisting of two shares of common stock of the Company and one warrant (the 2023 Warrants) to purchase one share of common stock, at a public offering price of $2.13 per unit. The 2023 Warrants were immediately separable and exercisable, have a per share exercise price of $1.22 and expire five years from the date of issuance. Pursuant to the Underwriting Agreement, the Company granted the Underwriter a 30-day option to purchase up to an additional 1,322,534 shares of common stock and an additional 661,267 of the 2023 Warrants to cover over-allotments, if any. On May 25, 2023, the Underwriter exercised this option in full and purchased the additional securities for aggregate gross proceeds to the Company of approximately $1,408,000, before deducting underwriting discounts and commissions and other offering expenses. The Underwriter was paid a cash fee of 7.0% of the aggregate gross proceeds of the 2023 Offering (including the over-allotment option) and reimbursed certain out-of-pocket expenses of approximately $125,000. In addition, pursuant to the Underwriting Agreement, the Company initially issued to the Underwriter common stock purchase warrants (the UW Warrants) for a total of 709,760 shares. Subsequently, the UW Warrants were reissued to the Underwriter and its agents for a total of 604,623 shares. The UW warrants were exercisable six months from the respective issuance dates and have a four-year term and a per share exercise price of $1.32. May 2022 Placement On May 2, 2022, the Company entered into a securities purchase agreement (the Purchase Agreement) with an institutional investor, pursuant to which the Company sold, in a registered direct offering, which closed on May 5, 2022, an aggregate of 449,438 shares (the Shares) of the Company’s common stock, par value $0.001 per share, at a purchase price per Share of $4.45 and pre-funded warrants (the Pre-Funded Warrants) to purchase an aggregate of approximately 1,348,000 shares of common stock at a purchase price per Pre-Funded Warrant of $4.44. The Pre-Funded Warrants will be exercisable immediately on the date of issuance at an exercise price of $0.01 per share and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. In a concurrent private placement under the Purchase Agreement, the Company issued to the Investor warrants (the Private Placement Warrants) to purchase an aggregate of 1,438,202 shares of common stock at an exercise price of $6.60 per share. The Private Placement Warrants were exercisable beginning on the six-month anniversary of the date of issuance (the Initial Exercise Date) and will expire on the five-year anniversary of the Initial Exercise Date. Issuances of Common Stock and Warrants During the years ended March 31, 2024 and 2023, the Company issued 1,429 and 11,264 shares of common stock to service providers, respectively, with fair values of approximately $1,400 and $22,000, respectively. As of March 31, 2024, the Company had the following warrants outstanding (share amounts in thousands): Type Number of Shares Exercise Prices Expiration Balance as of March 31, 2023 7,565 Issuance of common stock warrants 605 $ 1.32 May 2027 Issuance of common stock warrants 5,070 $ 1.22 May 2028 Common stock warrants exercised (70 ) $ 1.32 Common stock warrants exercised (649 ) $ 1.22 Balance as of March 31, 2024 12,521 At March 31, 2024, the Company had a receivable from its transfer agent for approximately $142,000 for the proceeds from warrants exercised prior to March 31, 2024. The receivable was recorded in the prepaid and other line in the consolidated balance sheet at March 31, 2024. As of March 31, 2023, the Company had the following warrants outstanding (share amounts in thousands): Type Number of Shares Exercise Prices Expiration Common stock 1,348 $ 0.01 — Common stock 768 $ 6.00 January - February 2027 Common stock 4,011 $ 6.60 February 2027 Common stock 1,438 $ 6.60 November 2027 Total 7,565

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Mar. 31, 2024
Stock-Based Compensation [Abstract]
STOCK-BASED COMPENSATION	NOTE 5 – STOCK-BASED COMPENSATION Amended 2017 Equity Incentive Plan In October 2017, the Company’s Board approved the 2017 Equity Incentive Plan (the Plan) with 1,000,000 shares of common stock reserved for issuance. In January 2020 and August 2021, the Board approved increases in the number of shares reserved for issuance under the Plan by 333,334 and 1,333,334 shares, respectively. In January 2023 and February 2024, the Company’s stockholders approved increases in the number of shares reserved for issuance under the Plan by an additional 2,000,000 and 3,000,000 shares, respectively. Under the Plan, eligible employees, directors and consultants may be granted a broad range of awards, including stock options, stock appreciation rights, restricted stock, performance-based awards and restricted stock units (RSUs). The Plan is administered by the Board or, in the alternative, a committee designated by the Board. Stock-Based Compensation Expense Stock options granted by the Company generally vest over 36 months and have a 10-year term. As of March 31, 2024, the unamortized compensation cost related to stock options was approximately $2,035,000 and is expected to be recognized as expense over a weighted-average period of approximately 1.3 years. In October 2023, under its Two-Part FDA Submission and Clearance Milestone Bonus Program (the Bonus Program), the Company granted stock options for 909,533 shares, which are subject to vesting based upon the achievement of certain performance milestones by the Company and continued service by the optionees. In January 2024, options to purchase 625,326 shares (net of forfeitures), which were granted under part one of the Bonus Program, vested upon the Company’s submission to the FDA. As of March 31, 2024, the Company had not commenced expense recognition of 242,307 (net of forfeitures) of the options, which were granted under part two of the Bonus Program, based on its assessment of the probability of achievement of the applicable performance requirements. During the year ended March 31, 2024, the Company granted options to purchase 127,500 shares that vested immediately when granted. The weighted-average grant date fair values of stock options granted during the years ended March 31, 2024 and 2023 was $0.99 and $2.85, respectively. The following assumptions were used in the fair-value method calculations: Year Ended March 31, 2024 2023 Risk-free interest rates 3.51% - 4.72% 2.82% - 4.06% Volatility 83% - 152% 83% - 223% Expected life (years) 5.0 - 6.2 5.0 – 5.7 Dividend yield — — The fair values of options at the grant date were estimated utilizing the Black-Scholes valuation model, which includes simplified methods to establish the fair term of options. The expected volatility is based on the historical volatility of the Company’s stock price. The risk-free interest rate was derived from the Daily Treasury Yield Curve Rates, as published by the U.S. Department of the Treasury as of the grant date for terms equal to the expected terms of the options. A dividend yield of zero was applied because the Company has never paid dividends and has no intention to pay dividends in the foreseeable future. The Company accounts for forfeitures as they occur. The following table summarizes the activity in the shares available for grant under the Plan during the year ended March 31, 2024: Options Outstanding Shares Available for Grant Number of Weighted Balance at March 31, 2022 989,466 1,650,705 $ 6.58 Additional shares authorized under the Plan 2,000,000 — — Options granted (1,006,074 ) 1,006,074 3.15 Share awards (26,789 ) — — Options cancelled and returned to the Plan 175,689 (175,689 ) 6.48 Balance at March 31, 2023 2,132,292 2,481,090 5.19 Additional shares authorized under the Plan 3,000,000 — — Options granted (1,448,533 ) 1,448,533 0.99 Share awards (25,390 ) — — RSUs granted (250,000 ) — — Options cancelled and returned to the Plan 240,282 (240,282 ) 3.84 Balance at March 31, 2024 3,648,651 3,689,341 $ 3.70 No stock options were exercised during the years ended March 31, 2024 and 2023. During the years ended March 31, 2024 and 2023, the Company issued 25,390 and 26,789 shares, respectively, to its non-employee directors under the Company’s outside director compensation plan. For the years ended March 31, 2024 and 2023, the Company recorded stock-based compensation expense for these share awards of approximately $37,000 and $86,000, respectively. A summary of RSU activity under the Plan is presented below. Number of Shares Weighted Average Grant- Date Fair Value Balance at March 31, 2023 — — Granted 250,000 $ 0.91 Vested (62,501 ) 0.91 Balance at March 31, 2024 $ 187,499 $ 0.91 The total intrinsic value of RSUs outstanding as of March 31, 2024 was approximately $347,000. The unamortized compensation cost at March 31, 2024 was approximately $171,000 related to RSUs and is expected to be recognized as expense over a period of approximately 2.25 years. The following table summarizes the range of outstanding and exercisable options as of March 31, 2024: Options Outstanding Options Exercisable Weighted Average Remaining Weighted Weighted Contractual Average Average Aggregate Number Life Exercise Number Exercise Intrinsic Range of Exercise Price Outstanding (in Years) Price Exercisable Price Value $0.93 - $2.00 2,237,066 8.31 $ 1.48 1,409,750 $ 1.52 $ 538,006 $3.95 - $7.51 943,145 7.20 5.29 771,478 5.52 — $ 8.61 - $17.70 509,130 7.23 10.53 470,442 10.53 — $0.93 - $17.70 3,689,341 7.88 $ 3.70 2,651,670 $ 4.28 $ 538,006 The intrinsic value per share is calculated as the excess of the closing price of the common stock on the Company’s principal trading market over the exercise price of the option at March 31, 2024.

Income taxes

Income taxes	12 Months Ended
	Mar. 31, 2024
Income Taxes - Open [Abstract]
INCOME TAXES	NOTE 6 – INCOME TAXES The income tax provision consisted of the following: Year Ended March 31, 2024 2023 (in thousands) Current portion: Federal $ — $ — State 2 2 2 2 Deferred portion: Federal (3,730 ) (2,933 ) State (657 ) (1,467 ) (4,387 ) (4,400 ) Change in valuation allowance 4,387 4,400 Provision for income taxes $ 2 $ 2 At March 31, 2024, the Company had net operating loss carryforwards (NOLs) of approximately $35,000,000 for federal income tax purposes and $50,400,000 for state income tax purposes. These NOLs are available to reduce future taxable income and will expire at various times from 2037 through 2045, except federal NOLs from fiscal 2018 and later, which will never expire. The Company also had federal research and development tax credit carryforwards of approximately $2,100,000, which will begin expiring at various times from 2038 through 2044, and state research and development credits of approximately $500,000, which do not have an expiration date. A reconciliation of income taxes provided at the federal statutory rate to the actual income tax provision is as follows: Year Ended March 31, 2024 2023 Federal statutory rate (21 )% (21 )% State tax rate, net of federal benefit (6 )% (6 )% Research and development tax credits (7 )% (6 )% Change in valuation allowance 32 % 29 % Other 2 % 4 % Effective income tax rate — % — % The losses before income tax provision for the years ended March 31, 2024 and 2023 were solely attributable to US operations. Significant components of the Company’s deferred tax assets and liabilities were (in thousands): March 31, 2024 2023 Net operating loss carryforwards $ 10,860 $ 8,742 Capitalized research and development expense 3,058 1,933 Stock-based compensation expense 2,818 2,587 Research and development tax credits 2,568 1,658 Property and equipment 193 105 Total deferred tax assets 19,497 15,025 Section 179 assets (239 ) (111 ) Reserves, accruals and other (49 ) (92 ) Total deferred tax liabilities (288 ) (203 ) Less: valuation allowance (19,209 ) (14,822 ) Deferred tax assets, net $ — $ — Based on the available information and other factors, management believes it is more likely than not that the net deferred tax assets at March 31, 2024 and 2023, will not be fully realizable. Accordingly, management has recorded a full valuation allowance against its net deferred tax assets at March 31, 2024 and 2023. Management has evaluated and concluded that there were no material uncertain tax positions requiring recognition in the Company’s consolidated financial statements at March 31, 2024 and 2023. The Company does not expect any significant changes in its unrecognized tax benefits within twelve months of the reporting date.

Royalty Agreement

Royalty Agreement	12 Months Ended
	Mar. 31, 2024
Royalty Agreement [Abstract]
ROYALTY AGREEMENT	NOTE 7 – ROYALTY AGREEMENT In July 2017, the Company entered into a royalty agreement with its founder, then-chief executive officer, president and major shareholder (the Founder). Pursuant to the agreement, the Founder assigned and transferred all of his rights in the intellectual property of Quasuras in return for future royalty payments on the Company’s product. The Company is obligated to make royalty payments under the agreement to the Founder on any sales of the royalty product sold or otherwise commercialized by the Company equal to (a) $0.75 on each sale of a royalty product or (b) 5% of the gross sale price of the royalty product, whichever is less. The royalty payments will cease, and the agreement will terminate, at such time as the total sum of royalty payments actually paid to the Founder, pursuant to the agreement, reaches $10,000,000. The Company has the option to terminate the agreement at any time upon payment, to the Founder, of the difference between total royalty payments actually made to him to date and the sum of $10,000,000. All payments of the royalties, if due, for the preceding quarter, will be made by the Company to the Founder within 30 days after the end of each calendar quarter.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 – COMMITMENTS AND CONTINGENCIES Litigations, Claims and Assessments In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements. Indemnification In the ordinary course of business, the Company enters into contractual arrangements under which it may agree to indemnify the counterparties from any losses incurred relating to breach of representations and warranties, failure to perform certain covenants, or claims and losses arising from certain events as outlined within the particular contract, which may include, for example, losses arising from litigation or claims relating to past performance. Such indemnification clauses may not be subject to maximum loss clauses. The Company has also entered into indemnification agreements with its officers and directors. No amounts were reflected in the Company’s consolidated financial statements for the years ended March 31, 2024 and 2023 related to these indemnifications. The Company has not estimated the maximum potential amount of indemnification liability under these agreements due to the limited history of prior claims and the unique facts and circumstances applicable to each particular agreement. To date, the Company has not made any payments related to these indemnification agreements. Purchase Obligations The Company’s primary purchase obligations include purchase orders for machinery and equipment. At March 31, 2024, the Company had outstanding purchase orders for machinery and equipment and related expenditures of approximately $1,100,000. In December 2023, the Company signed a device integration agreement with a provider of connected-care and remote monitoring diabetes technology solutions. As of March 31, 2024, the Company had a remaining obligation under the device integration agreement of approximately $400,000 over three years for technology license fees.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS Manchester Management Company, LLC (MMC), as the general partner of Manchester Explorer, LP (Explorer), combined with the holdings of its affiliates, JEB Partners LP, James Besser and Morgan Frank, owned approximately 11% of the Company’s outstanding shares of common stock as of March 31, 2024. Mr. Besser is the Company’s chief executive officer and a managing member of MMC. Mr. Frank is one of our directors and serves as the portfolio manager of Explorer and as a managing member of MMC. In February 2024, Explorer purchased 900,000 shares of common stock in the 2024 Offering at the public offering price per share of $1.10 for aggregate gross proceeds to the Company of $990,000. The daughter of the Founder is an employee of the Company. During the years ended March 31, 2024 and 2023, the Company paid her approximately $137,000 and $201,000, respectively, which includes the aggregate grant date fair values, as determined pursuant to FASB ASC Topic 718, of stock options granted to her during each year.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (17,470)	$ (13,879)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	12 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Liquidity and Going Concern	Liquidity and Going Concern The Company expects to continue to incur operating losses for the foreseeable future and incur cash outflows from operations as it continues to invest in the development and subsequent commercialization of its product. The Company expects that its research and development and general and administrative expenses will continue to increase, and, as a result, it will eventually need to generate significant revenue to achieve profitability. The Company’s expected operating losses and cash burn raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that these financial statements are issued. In addition, the Company’s independent registered public accounting firm, in its report on these consolidated financial statements for the year ended March 31, 2024, expressed substantial doubt about the Company’s ability to continue as a going concern. These consolidated financial statements do not include any adjustments that might result from this uncertainty. Implementation of the Company’s plans and its ability to continue as a going concern will depend upon the Company’s ability to raise additional capital, through the sale of additional equity or debt securities, to support its future operations. There can be no assurance that such additional capital, whether in the form of debt or equity financing, will be sufficient or available and, if available, that such capital will be offered on terms and conditions acceptable to the Company. In, May 2023 and February 2024, the Company completed public offerings of its common stock and warrants. The Company’s operating needs include the planned costs to operate its business, including amounts required to fund working capital and capital expenditures. The Company’s future capital requirements and the adequacy of its available funds will depend on many factors, including the Company’s ability to successfully commercialize its product, competing technological and market developments, and the need to enter into collaborations with other companies or acquire other companies or technologies to enhance or complement its product offering. If the Company is unable to secure additional capital, it may be required to curtail its research and development initiatives and take additional measures to reduce costs in order to conserve its cash.
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America. The Company’s fiscal year ends on March 31 of each calendar year. Each reference to a fiscal year in these notes to the consolidated financial statements refers to the fiscal year ended March 31 of the calendar year indicated (for example, fiscal 2024 refers to the fiscal year ending March 31, 2024). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Quasuras. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amount of revenues and expenses during the reporting period. Estimates may include those pertaining to accruals, stock-based compensation and income taxes. Actual results could differ from those estimates.
Reportable Segment	Reportable Segment The Company operates in one business segment and uses one measurement of profitability for its business.
Research and Development	Research and Development The Company expenses research and development expenditures as incurred.
General and Administrative	General and Administrative General and administrative expenses consist primarily of payroll and benefit costs, rent, stock-based compensation, legal and accounting fees, and facility and other administrative expenses.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash held in demand deposit accounts. The Company maintains its cash at high credit quality financial institutions within the United States, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to limits of approximately $250,000. No reserve has been made in the financial statements for any possible loss due to financial institution failure.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks from, among other things, competition associated with the industry in general, other risks associated with financing, liquidity requirements, rapidly changing customer requirements, limited operating history and the volatility of public markets. Economic Disruptions The global outbreak of the coronavirus disease 2019 (COVID-19) was declared a pandemic by the World Health Organization and a national emergency by the U.S. government in March 2020. This negatively affected the U.S. and global economy, disrupted global supply chains, significantly restricted travel and transportation, resulted in mandated closures and orders to “shelter-in- place” and created significant disruption of the financial markets. While the U.S. national emergency expired in May 2023 and substantially all closures and “shelter-in-place” orders have ended, there can be no assurance that the COVID-19 pandemic will not impact the Company’s operational and financial performance in the future, as the duration and spread of the pandemic and related actions taken by U.S. and foreign government agencies to prevent disease spread are uncertain, out of our control, and cannot be predicted. Wars and acts of terrorism have led to further economic disruptions. Mounting inflationary cost pressures and recessionary fears have negatively impacted the global economy. Since mid-2022, at times, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains elevated. While the Company was recently able to access the capital markets, in the future, the Company may be unable to access the capital markets, and additional capital may only be available to the Company on terms that could be significantly detrimental to its existing stockholders and to its business.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash held in demand deposit and money market accounts, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less.
Property and Equipment	Property and Equipment Property and equipment are recorded at historical cost. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to five years. Depreciation is recorded in operating expenses in the consolidated statements of operations. Leasehold improvements and assets acquired through finance leases are amortized over the shorter of their estimated useful life or the lease term, and amortization is recorded in operating expenses in the consolidated statements of operations. Construction-in-process includes machinery and equipment and is stated at cost and not depreciated. Depreciation on construction-in-process commences when the assets are ready for their intended use and placed into service.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures the fair value of financial instruments using a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels: ● Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. ● Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Due to their short-term nature, the carrying values of cash equivalents, accounts payable and accrued expenses, approximate fair value.
Leases	Leases The Company’s right-of-use assets consist of leased assets recognized in accordance with Financial Accounting Standards Board (FASB) ASC No. 842, Leases
Stock-Based Compensation	Stock-Based Compensation The Company periodically issues stock options, restricted stock units and stock awards to employees and non-employees. We account for such awards based on Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 718, whereby the value of the award is measured on the date of grant and recognized as compensation expense on a straight-line basis over the requisite service period, usually the vesting period. With respect to performance-based awards, the Company assesses the probability of achieving the requisite performance criteria before recognizing compensation expense. The fair value of the Company’s stock options is estimated using the Black-Scholes-Merton Option Pricing (Black Scholes) model, which uses certain assumptions related to risk-free interest rates, expected volatility, expected life of the options, and future dividends. Compensation expense is recorded based upon the value derived from the Black-Scholes model. The assumptions used in the Black-Scholes model could materially affect compensation expense recorded in future periods.
Per-Share Amounts	Per-Share Amounts Basic net loss per share is computed by dividing loss for the period by the weighted-average number of shares of common stock outstanding (WASO) during the period. In addition, the Company includes the number of shares of common stock issuable under pre-funded warrants as outstanding for purposes of the WASO calculation. Diluted net loss per share gives effect to all potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of incremental shares of common stock issuable upon the exercise of stock options and exercise of warrants. Prior to April 1, 2023, the Company excluded pre-funded warrants from the computation of WASO. The pre-funded warrants are now included in the computation of WASO. Prior period amounts have been conformed to the current-period presentation. The impact of the change reduced the previously reported loss per share by $0.13 and increased WASO by approximately 1,223,000 shares for the year ended March 31, 2023. The reclassification had no impact on the Company’s net loss or cash flows for the year ended March 31, 2023. The following table sets forth securities outstanding which were excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive (in thousands): March 31, 2024 2023 Options to purchase common stock 3,689 2,481 Unvested restricted stock units 187 — Common stock purchase warrants 11,173 6,217 Total 15,049 8,698
Reclassifications	Reclassifications Certain prior year amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported results of operations or cash flows.
Income Taxes	Income Taxes The Company determines deferred tax assets and liabilities based upon the differences between the financial statement and tax bases of the Company’s assets and liabilities using tax rates in effect for the year in which the Company expects the differences to affect taxable income. A valuation allowance is established for any deferred tax assets for which it is more likely than not that all or a portion of the deferred tax assets will not be realized. Based on the available information and other factors, management believes it is more likely than not that its federal and state net deferred tax assets will not be fully realized, and the Company has recorded a full valuation allowance. The Company accounts for uncertain tax positions in accordance with FASB ASC Topic 740, Income Taxes The Company files U.S. federal and state income tax returns in jurisdictions with varying statutes of limitations. The Company’s historical net operating loss and credit carryforwards may be adjusted by the federal and state tax authorities until the statute closes on the year in which such tax attributes are utilized.
Comprehensive Loss	Comprehensive Loss Comprehensive loss represents the changes in equity of an enterprise, other than those resulting from stockholder transactions. Accordingly, comprehensive loss may include certain changes in equity that are excluded from net loss. For the years ended March 31, 2024 and 2023, the Company’s comprehensive loss was the same as its net loss.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2024
The Company and Summary of Significant Accounting Policies [Abstract]
Schedule of Diluted Net Loss Per Share	The following table sets forth securities outstanding which were excluded from the computation of diluted net loss per share as their inclusion would be anti-dilutive (in thousands): March 31, 2024 2023 Options to purchase common stock 3,689 2,481 Unvested restricted stock units 187 — Common stock purchase warrants 11,173 6,217 Total 15,049 8,698

Consolidated Balance Sheet De_2

Consolidated Balance Sheet Detail (Tables)	12 Months Ended
	Mar. 31, 2024
Consolidated Balance Sheet Detail [Abstract]
Schedule of Prepaid and Other Current Assets	March 31, 2024 2023 (in thousands) Prepaid and other current assets: Prepaid expenses $ 318 $ 142 Receivable from transfer agent for warrant exercise proceeds 142 — Other receivables 5 5 $ 465 $ 147
Schedule of Property and Equipment, Net	March 31, 2024 2023 (in thousands) Property and equipment, net: Machinery and equipment $ 3,209 $ 820 Computer equipment and software 66 66 Construction-in-process 283 1,003 Leasehold improvements 33 25 Office equipment 63 63 3,654 1,977 Less: accumulated depreciation and amortization (679 ) (256 ) $ 2,975 $ 1,721
Schedule of Accrued Expenses	March 31, 2024 2023 (in thousands) Accrued Expenses Accrued wages $ 243 $ 267 Other 37 72 $ 280 $ 339

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Future Minimum Payments Under the Facility Operating Lease	Future minimum payments under the facility operating lease, as of March 31, 2024, are listed in the table below (in thousands). Fiscal year ending March 31, 2025 452 2026 470 2027 405 Total future lease payments 1,327 Less: Imputed interest (137 ) Present value of lease liabilities $ 1,190

Stockholders_ Equity (Tables)

Stockholders’ Equity (Tables)	12 Months Ended
	Mar. 31, 2024
Stockholders’ Equity [Abstract]
Schedule of Warrants Outstanding	As of March 31, 2024, the Company had the following warrants outstanding (share amounts in thousands): Type Number of Shares Exercise Prices Expiration Balance as of March 31, 2023 7,565 Issuance of common stock warrants 605 $ 1.32 May 2027 Issuance of common stock warrants 5,070 $ 1.22 May 2028 Common stock warrants exercised (70 ) $ 1.32 Common stock warrants exercised (649 ) $ 1.22 Balance as of March 31, 2024 12,521 As of March 31, 2023, the Company had the following warrants outstanding (share amounts in thousands): Type Number of Shares Exercise Prices Expiration Common stock 1,348 $ 0.01 — Common stock 768 $ 6.00 January - February 2027 Common stock 4,011 $ 6.60 February 2027 Common stock 1,438 $ 6.60 November 2027 Total 7,565

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2024
Stock-Based Compensation [Abstract]
Schedule of Assumptions were used in the Fair-Value Method	The weighted-average grant date fair values of stock options granted during the years ended March 31, 2024 and 2023 was $0.99 and $2.85, respectively. The following assumptions were used in the fair-value method calculations: Year Ended March 31, 2024 2023 Risk-free interest rates 3.51% - 4.72% 2.82% - 4.06% Volatility 83% - 152% 83% - 223% Expected life (years) 5.0 - 6.2 5.0 – 5.7 Dividend yield — —
Schedule of Summarizes the Activity in the Shares	The following table summarizes the activity in the shares available for grant under the Plan during the year ended March 31, 2024: Options Outstanding Shares Available for Grant Number of Weighted Balance at March 31, 2022 989,466 1,650,705 $ 6.58 Additional shares authorized under the Plan 2,000,000 — — Options granted (1,006,074 ) 1,006,074 3.15 Share awards (26,789 ) — — Options cancelled and returned to the Plan 175,689 (175,689 ) 6.48 Balance at March 31, 2023 2,132,292 2,481,090 5.19 Additional shares authorized under the Plan 3,000,000 — — Options granted (1,448,533 ) 1,448,533 0.99 Share awards (25,390 ) — — RSUs granted (250,000 ) — — Options cancelled and returned to the Plan 240,282 (240,282 ) 3.84 Balance at March 31, 2024 3,648,651 3,689,341 $ 3.70
Schedule of RSU Activity under the Plan	A summary of RSU activity under the Plan is presented below. Number of Shares Weighted Average Grant- Date Fair Value Balance at March 31, 2023 — — Granted 250,000 $ 0.91 Vested (62,501 ) 0.91 Balance at March 31, 2024 $ 187,499 $ 0.91
Schedule of Outstanding and Exercisable Options	The following table summarizes the range of outstanding and exercisable options as of March 31, 2024: Options Outstanding Options Exercisable Weighted Average Remaining Weighted Weighted Contractual Average Average Aggregate Number Life Exercise Number Exercise Intrinsic Range of Exercise Price Outstanding (in Years) Price Exercisable Price Value $0.93 - $2.00 2,237,066 8.31 $ 1.48 1,409,750 $ 1.52 $ 538,006 $3.95 - $7.51 943,145 7.20 5.29 771,478 5.52 — $ 8.61 - $17.70 509,130 7.23 10.53 470,442 10.53 — $0.93 - $17.70 3,689,341 7.88 $ 3.70 2,651,670 $ 4.28 $ 538,006

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Mar. 31, 2024
Income Taxes - Open [Abstract]
Schedule of Reconciliation of Income Taxes Provided at the Federal Statutory Rate	The income tax provision consisted of the following: Year Ended March 31, 2024 2023 (in thousands) Current portion: Federal $ — $ — State 2 2 2 2 Deferred portion: Federal (3,730 ) (2,933 ) State (657 ) (1,467 ) (4,387 ) (4,400 ) Change in valuation allowance 4,387 4,400 Provision for income taxes $ 2 $ 2
Schedule of Reconciliation of Income Taxes Provided at the Federal Statutory Rate	A reconciliation of income taxes provided at the federal statutory rate to the actual income tax provision is as follows: Year Ended March 31, 2024 2023 Federal statutory rate (21 )% (21 )% State tax rate, net of federal benefit (6 )% (6 )% Research and development tax credits (7 )% (6 )% Change in valuation allowance 32 % 29 % Other 2 % 4 % Effective income tax rate — % — %
Schedule of Significant Components of the Company’s Deferred Tax Assets and Liabilities	The losses before income tax provision for the years ended March 31, 2024 and 2023 were solely attributable to US operations. Significant components of the Company’s deferred tax assets and liabilities were (in thousands): March 31, 2024 2023 Net operating loss carryforwards $ 10,860 $ 8,742 Capitalized research and development expense 3,058 1,933 Stock-based compensation expense 2,818 2,587 Research and development tax credits 2,568 1,658 Property and equipment 193 105 Total deferred tax assets 19,497 15,025 Section 179 assets (239 ) (111 ) Reserves, accruals and other (49 ) (92 ) Total deferred tax liabilities (288 ) (203 ) Less: valuation allowance (19,209 ) (14,822 ) Deferred tax assets, net $ — $ —

The Company and Summary of Si_3

The Company and Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
The Company and Summary of Significant Accounting Policies [Line Items]
Federal deposit insurance corporation (in Dollars)	$ 250,000
Loss per share (in Dollars per share)	$ (0.78)	$ (1.15)
Previously Reported [Member]
The Company and Summary of Significant Accounting Policies [Line Items]
Loss per share (in Dollars per share)		$ 0.13
Weighted average share outstanding (in Shares)		1,223,000
Minimum [Member]
The Company and Summary of Significant Accounting Policies [Line Items]
Estimated useful lives	3 years
Maximum [Member]
The Company and Summary of Significant Accounting Policies [Line Items]
Estimated useful lives	5 years

The Company and Summary of Si_4

The Company and Summary of Significant Accounting Policies (Details) - Schedule of Diluted Net Loss Per Share - shares shares in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Diluted Net Loss Per Share [Line Items]
Anti-dilutive total	15,049	8,698
Common stock purchase warrants [Member]
Schedule of Diluted Net Loss Per Share [Line Items]
Anti-dilutive total	11,173	6,217
Options to purchase common stock [Member]
Schedule of Diluted Net Loss Per Share [Line Items]
Anti-dilutive total	3,689	2,481
Unvested restricted stock units [Member]
Schedule of Diluted Net Loss Per Share [Line Items]
Anti-dilutive total	187

Consolidated Balance Sheet De_3

Consolidated Balance Sheet Detail (Details) - Schedule of Prepaid and Other Current Assets - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Prepaid and other current assets:
Prepaid expenses	$ 318	$ 142
Receivable from transfer agent for warrant exercise proceeds	142
Other receivables	5	5
Total Prepaid and other current assets	$ 465	$ 147

Consolidated Balance Sheet De_4

Consolidated Balance Sheet Detail (Details) - Schedule of Property and Equipment, Net - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Property and equipment, net:
Property and equipment, gross	$ 3,654	$ 1,977
Less: accumulated depreciation and amortization	(679)	(256)
Total property and equipment, net	2,975	1,721
Machinery and equipment [Member]
Property and equipment, net:
Property and equipment, gross	3,209	820
Computer equipment and software [Member]
Property and equipment, net:
Property and equipment, gross	66	66
Construction-in-process [Member]
Property and equipment, net:
Property and equipment, gross	283	1,003
Leasehold improvements [Member]
Property and equipment, net:
Property and equipment, gross	33	25
Office equipment [Member]
Property and equipment, net:
Property and equipment, gross	$ 63	$ 63

Consolidated Balance Sheet De_5

Consolidated Balance Sheet Detail (Details) - Schedule of Accrued Expenses - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Accrued Expenses [Abstract]
Accrued wages	$ 243	$ 267
Other	37	72
Total accrued expenses	$ 280	$ 339

Leases (Details)

Leases (Details) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2023	Mar. 31, 2024	Mar. 31, 2023
Leases [Line Items]
Operating lease expired term		Jun. 30, 2023
Rent expense	$ 36,000	$ 449,000	$ 237,000
Annual rent increases percentage	4%
Discount rate		8%
Obtained a right-of-use asset		$ 1,560,000
Cash paid		$ 476,000	$ 230,000
W. Bernardo Drive, San Diego, CA [Member]
Leases [Line Items]
Lease term		39 months
Thornmint Road, San Diego, CA [Member]
Leases [Line Items]
Lease term		48 months

Leases (Details) - Schedule of

Leases (Details) - Schedule of Future Minimum Payments Under the Facility Operating Lease $ in Thousands	Mar. 31, 2024 USD ($)
Schedule of Future Minimum Payments Under the Facility Operating Lease [Abstract]
2025	$ 452
2026	470
2027	405
Total future lease payments	1,327
Less: Imputed interest	(137)
Present value of lease liabilities	$ 1,190

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - USD ($)								12 Months Ended
	Mar. 13, 2024	Feb. 15, 2024	Jan. 24, 2024	Nov. 22, 2023	May 25, 2023	May 15, 2023	May 02, 2022	Mar. 31, 2024	Mar. 31, 2023	Feb. 29, 2024
Stockholders’ Equity [Line Items]
Shares authorized								100,000,000	50,000,000
Purchase up additional shares		9,090,910	153,879				449,438
common stock price per share (in Dollars per share)		$ 1.1								$ 1.1
Aggregate proceeds (in Dollars)	$ 1,454,000			$ 6,500,000				$ 10,000,000
Common stock purchase								32,464,000	10,949,000
Cash fee								7%
Pocket expenses (in Dollars)								$ 75,000
Compensation services equal percentage				3%
Net proceeds (in Dollars)			$ 278,000
Aggregate gross proceeds (in Dollars)						$ 9,390,000
Exercise price (in Dollars per share)						$ 1.22
Expired term						5 years
Paid cash fee percentage								7%
Common stock par value (in Dollars per share)							$ 0.001	$ 0.001	$ 0.001
Purchase price per share (in Dollars per share)							$ 4.45
Purchase aggregate shares							1,348,000
Pre funded warrant (in Dollars per share)							$ 4.44
Exercise price (in Dollars per share)							$ 6.6
Stock-based compensation (in Dollars)								$ 2,701,000	$ 2,724,000
Warrant [Member]
Stockholders’ Equity [Line Items]
Purchase up additional shares						4,408,450
Aggregate proceeds (in Dollars)								$ 142,000
Exercise price per share (in Dollars per share)						$ 2.13
Exercise price (in Dollars per share)								$ 1.32
Underwriter common stock purchase warrants								709,760
Private Placement Warrants [Member]
Stockholders’ Equity [Line Items]
Purchase up additional shares							1,438,202
Common Stock [Member]
Stockholders’ Equity [Line Items]
Stock-based compensation (in Dollars)								$ 1,429	11,264
Estimate of Fair Value Measurement [Member] | Common Stock [Member]
Stockholders’ Equity [Line Items]
Stock-based compensation (in Dollars)								$ 1,400	$ 22,000
Underwriting Agreement [Member]
Stockholders’ Equity [Line Items]
Purchase up additional shares								1,322,534
Common Stock [Member]
Stockholders’ Equity [Line Items]
Purchase up additional shares						8,816,900
Common stock purchase								1,321,989
Exercise price (in Dollars per share)							$ 0.01
Common Stock [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Exercise price (in Dollars per share)									$ 0.01
Common Stock [Member] | Minimum [Member]
Stockholders’ Equity [Line Items]
Shares authorized										50,000,000
Common Stock [Member] | Maximum [Member]
Stockholders’ Equity [Line Items]
Shares authorized										100,000,000
Over-Allotment Option [Member]
Stockholders’ Equity [Line Items]
Offering cost (in Dollars)								$ 125,000
Over-Allotment Option [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Purchase up additional shares								661,267
Underwriting Agreement [Member]
Stockholders’ Equity [Line Items]
Aggregate proceeds (in Dollars)					$ 1,408,000
Underwriter [Member] | Warrant [Member]
Stockholders’ Equity [Line Items]
Underwriter agents shares								604,623

Stockholders_ Equity (Details)

Stockholders’ Equity (Details) - Schedule of Warrants Outstanding - Warrant [Member] - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Warrants Outstanding [Line Items]
Number of Shares, balance	7,565
Number of Shares, Common stock	12,521	7,565
Exercise Prices, Common stock (in Dollars per share)	$ 1.32
Number of Shares, balance	12,521	7,565
Issuance of Common Stock Warrants [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, Issuance of common stock warrants	605
Exercise Prices, Issuance of common stock warrants (in Dollars per share)	$ 1.32
Expiration Dates, Issuance of common stock warrants	May 2027
Issuance of Common Stock Warrants One [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, Issuance of common stock warrants	5,070
Exercise Prices, Issuance of common stock warrants (in Dollars per share)	$ 1.22
Expiration Dates, Issuance of common stock warrants	May 2028
Common Stock Warrants Exercised [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, Common stock warrants exercised	(70)
Exercise Prices, Common stock warrants exercised (in Dollars per share)	$ 1.32
Common Stock Warrants Exercised 1 [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, Common stock warrants exercised	(649)
Exercise Prices, Common stock warrants exercised (in Dollars per share)	$ 1.22
Common stock [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, balance	1,348
Number of Shares, Common stock		1,348
Exercise Prices, Common stock (in Dollars per share)		$ 0.01
Expiration Dates, Common stock
Number of Shares, balance		1,348
Common stock [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, balance	768
Number of Shares, Common stock		768
Exercise Prices, Common stock (in Dollars per share)		$ 6
Expiration Dates, Common stock		January - February 2027
Number of Shares, balance		768
Common stock [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, balance	4,011
Number of Shares, Common stock		4,011
Exercise Prices, Common stock (in Dollars per share)		$ 6.6
Expiration Dates, Common stock		February 2027
Number of Shares, balance		4,011
Common stock [Member]
Schedule of Warrants Outstanding [Line Items]
Number of Shares, balance	1,438
Number of Shares, Common stock		1,438
Exercise Prices, Common stock (in Dollars per share)		$ 6.6
Expiration Dates, Common stock		November 2027
Number of Shares, balance		1,438

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($)		1 Months Ended		12 Months Ended
	Oct. 31, 2017	Jan. 31, 2024	Oct. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Feb. 28, 2024	Jan. 31, 2023	Aug. 31, 2021	Jan. 31, 2020
Stock-Based Compensation [Line Items]
Unamortized compensation cost (in Dollars)				$ 2,035,000
Weighted average period				1 year 3 months 18 days
Stock options shares		625,326	909,533
Expense recognition				242,307
Stock-based compensation (in Dollars)				$ 37,000	$ 86,000
Stock-Based Compensation [Member]
Stock-Based Compensation [Line Items]
Granted options to purchase shares				127,500
Fair value of stock options granted price (in Dollars per share)				$ 0.99	$ 2.85
Restricted Stock Units (RSUs) [Member]
Stock-Based Compensation [Line Items]
Unamortized compensation cost (in Dollars)				$ 171,000
Fair value of stock options granted price (in Dollars per share)				$ 0.99	$ 3.15
Total intrinsic value (in Dollars)				$ 347,000
Weighted average period				2 years 3 months
Non-employee Directors [Member]
Stock-Based Compensation [Line Items]
Shares issued				25,390	26,789
2017 Equity Incentive Plan [Member]
Stock-Based Compensation [Line Items]
Shares approved under equity incentive plan	1,000,000
Number of shares reserved						3,000,000	2,000,000	1,333,334	333,334

Stock-Based Compensation (Det_2

Stock-Based Compensation (Details) - Schedule of Assumptions were used in the Fair-Value Method	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Assumptions were used in the Fair-Value Method [Line Items]
Dividend yield
Minimum [Member]
Schedule of Assumptions were used in the Fair-Value Method [Line Items]
Risk-free interest rates	3.51%	2.82%
Volatility	83%	83%
Expected life (years)	5 years	5 years
Maximum [Member]
Schedule of Assumptions were used in the Fair-Value Method [Line Items]
Risk-free interest rates	4.72%	4.06%
Volatility	152%	223%
Expected life (years)	6 years 2 months 12 days	5 years 8 months 12 days

Stock-Based Compensation (Det_3

Stock-Based Compensation (Details) - Schedule of Summarizes the Activity in the Shares - Restricted Stock Units (RSUs) [Member] - $ / shares	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Summarizes the Activity in the Shares [Line Items]
Shares Available for Grant, Begining Balance	2,132,292	989,466
Number of Shares, Begining Balance	2,481,090	1,650,705
Weighted Average Exercise Price, Begining Balance (in Dollars per share)	$ 5.19	$ 6.58
Shares Available for Grant, Ending Balance	3,648,651	2,132,292
Number of Shares, Ending Balance	3,689,341	2,481,090
Weighted Average Exercise Price, Ending Balance (in Dollars per share)	$ 3.7	$ 5.19
Shares Available for Grant, Additional shares authorized under the Plan	3,000,000	2,000,000
Number of Shares, Additional shares authorized under the Plan
Weighted Average Exercise Price, Additional shares authorized under the Plan (in Dollars per share)
Shares Available for Grant, Options granted	(1,448,533)	(1,006,074)
Number of Shares, Options granted	1,448,533	1,006,074
Weighted Average Exercise Price, Options granted (in Dollars per share)	$ 0.99	$ 3.15
Shares Available for Grant, Share awards	(25,390)	(26,789)
Number of Shares, Share awards
Weighted Average Exercise Price, Share awards (in Dollars per share)
Shares Available for Grant, RSUs granted	(250,000)
Number of Shares, RSUs granted
Weighted Average Exercise Price, RSUs granted (in Dollars per share)
Shares Available for Grant, Options cancelled and returned to the Plan	240,282	175,689
Number of Shares, Options cancelled and returned to the Plan	(240,282)	(175,689)
Weighted Average Exercise Price, Options cancelled and returned to the Plan (in Dollars per share)	$ 3.84	$ 6.48

Stock-Based Compensation (Det_4

Stock-Based Compensation (Details) - Schedule of RSU Activity under the Plan	12 Months Ended
	Mar. 31, 2024 $ / shares shares
Schedule of RSU Activity Under the Plan [Abstract]
Number of Shares, Balance Beginning | shares
Weighted Average Grant- Date Fair Value, Balance Beginning | $ / shares
Number of Shares, Balance Ending | shares	187,499
Weighted Average Grant- Date Fair Value, Balance Ending | $ / shares	$ 0.91
Number of Shares, Granted | shares	250,000
Weighted Average Grant- Date Fair Value, Granted | $ / shares	$ 0.91
Number of Shares, Vested | shares	(62,501)
Weighted Average Grant- Date Fair Value, Vested | $ / shares	$ 0.91

Stock-Based Compensation (Det_5

Stock-Based Compensation (Details) - Schedule of Outstanding and Exercisable Options $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
$0.93 - $2.00 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Number Outstanding (in Shares) | shares	2,237,066
Weighted Average Remaining Contractual Life (in Years)	8 years 3 months 21 days
Weighted Average Exercise Price	$ 1.48
Number Exercisable (in Shares) | shares	1,409,750
Weighted Average Exercise Price	$ 1.52
Aggregate Intrinsic Value (in Dollars) | $	$ 538,006
$3.95 - $7.51 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Number Outstanding (in Shares) | shares	943,145
Weighted Average Remaining Contractual Life (in Years)	7 years 2 months 12 days
Weighted Average Exercise Price	$ 5.29
Number Exercisable (in Shares) | shares	771,478
Weighted Average Exercise Price	$ 5.52
8.61 - $17.70 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Number Outstanding (in Shares) | shares	509,130
Weighted Average Remaining Contractual Life (in Years)	7 years 2 months 23 days
Weighted Average Exercise Price	$ 10.53
Number Exercisable (in Shares) | shares	470,442
Weighted Average Exercise Price	$ 10.53
0.93 - $17.70 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Number Outstanding (in Shares) | shares	3,689,341
Weighted Average Remaining Contractual Life (in Years)	7 years 10 months 17 days
Weighted Average Exercise Price	$ 3.7
Number Exercisable (in Shares) | shares	2,651,670
Weighted Average Exercise Price	$ 4.28
Aggregate Intrinsic Value (in Dollars) | $	$ 538,006
Minimum [Member] | $0.93 - $2.00 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	$ 0.93
Minimum [Member] | $3.95 - $7.51 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	3.95
Minimum [Member] | 8.61 - $17.70 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	8.61
Minimum [Member] | 0.93 - $17.70 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	0.93
Maximum [Member] | $0.93 - $2.00 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	2
Maximum [Member] | $3.95 - $7.51 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	7.51
Maximum [Member] | 8.61 - $17.70 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	17.7
Maximum [Member] | 0.93 - $17.70 [Member]
Schedule of Outstanding and Exercisable Options [Line Items]
Range of Exercise Price	$ 17.7

Income taxes (Details)

Income taxes (Details)	12 Months Ended
	Mar. 31, 2024 USD ($)
Income taxes [Line Items]
Net operating loss carryforwards federal income tax	$ 35,000,000
Net operating loss carryforwards state income tax	50,400,000
Federal research and development tax credit	2,100,000
State research and development credits	$ 500,000

Income taxes (Details) - Schedu

Income taxes (Details) - Schedule of Income Tax Provision - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Current portion:
Federal
State	2	2
Current income tax provision	2	2
Deferred portion:
Federal	(3,730)	(2,933)
State	(657)	(1,467)
Deferred income tax provision	(4,387)	(4,400)
Change in valuation allowance	4,387	4,400
Provision for income taxes	$ 2	$ 2

Income taxes (Details) - Sche_2

Income taxes (Details) - Schedule of Reconciliation of Income Taxes Provided at the Federal Statutory Rate	12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Schedule of Reconciliation of Income Taxes Provided at the Federal Statutory Rate [Abstract]
Federal statutory rate	(21.00%)	(21.00%)
State tax rate, net of federal benefit	(6.00%)	(6.00%)
Research and development tax credits	(7.00%)	(6.00%)
Change in valuation allowance	32%	29%
Other	2%	4%
Effective income tax rate

Income taxes (Details) - Sche_3

Income taxes (Details) - Schedule of Significant Components of the Company’s Deferred Tax Assets and Liabilities - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Schedule of Significant Components of the Company’s Deferred Tax Assets and Liabilities [Abstract]
Net operating loss carryforwards	$ 10,860	$ 8,742
Capitalized research and development expense	3,058	1,933
Stock-based compensation expense	2,818	2,587
Research and development tax credits	2,568	1,658
Property and equipment	193	105
Total deferred tax assets	19,497	15,025
Section 179 assets	(239)	(111)
Reserves, accruals and other	(49)	(92)
Total deferred tax liabilities	(288)	(203)
Less: valuation allowance	(19,209)	(14,822)
Deferred tax assets, net

Commitments and Contingencies (

Commitments and Contingencies (Details)	Mar. 31, 2024 USD ($)
Commitments and Contingencies [Line Items]
Purchase obligations	$ 1,100,000
Device Integration Agreement [Member]
Commitments and Contingencies [Line Items]
Purchase obligations	$ 400,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)		12 Months Ended
	Feb. 29, 2024	Mar. 31, 2024	Mar. 31, 2023	Feb. 15, 2024
Related Party Transactions [Line Items]
Company’s outstanding shares of common stock percentage		11%
Public offering price per share (in Dollars per share)	$ 1.1			$ 1.1
Founder [Member]
Related Party Transactions [Line Items]
Company paid amount		$ 137,000	$ 201,000
Manchester Management Company LLC [Member]
Related Party Transactions [Line Items]
Aggregate gross proceeds	$ 990,000
Common Stock [Member]
Related Party Transactions [Line Items]
Shares of common stock (in Shares)	900,000