Emerson Radio (MSN) 10-Q 14 Nov 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Sep. 30, 2024	Nov. 14, 2024
Document Information [Line Items]
Entity Central Index Key	0000032621
Entity Registrant Name	EMERSON RADIO CORP
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-07731
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3285224
Entity Address, Address Line One	959 Route 46 East, Suite 210
Entity Address, City or Town	Parsippany
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	973
Local Phone Number	428-2000
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	MSN
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		21,042,652

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net revenues:
Revenue	$ 2,738,000	$ 2,438,000	$ 4,936,000	$ 4,247,000
Costs and expenses:
Cost of sales	2,466,000	2,040,000	4,470,000	3,510,000
Selling, general and administrative expenses	1,389,000	1,064,000	2,805,000	2,262,000
Total cost of sales and SG&A	3,855,000	3,104,000	7,275,000	5,772,000
Operating loss	(1,117,000)	(666,000)	(2,339,000)	(1,525,000)
Other income:
Settlement of litigation	0	3,100,000	0	3,100,000
Interest income, net	236,000	289,000	499,000	583,000
(Loss) income before income taxes	(881,000)	2,723,000	(1,840,000)	2,158,000
Provision for income tax expense	0	88,000	3,000	88,000
Net (loss) income	$ (881,000)	$ 2,635,000	$ (1,843,000)	$ 2,070,000
Basic (loss) income per share (in dollars per share)	$ (0.04)	$ 0.13	$ (0.09)	$ 0.1
Diluted (loss) income per share (in dollars per share)	$ (0.04)	$ 0.13	$ (0.09)	$ 0.1
Weighted average shares outstanding
Basic (in shares)	21,042,652	21,042,652	21,042,652	21,042,652
Diluted (in shares)	21,042,652	21,042,652	21,042,652	21,042,652
Product [Member]
Net revenues:
Revenue	$ 2,670,000	$ 2,414,000	$ 4,799,000	$ 4,146,000
License [Member]
Net revenues:
Revenue	$ 68,000	$ 24,000	$ 137,000	$ 101,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2024	Mar. 31, 2024
Current Assets:
Cash and cash equivalents	$ 464,000	$ 19,890,000
Short term investments	16,277,000	0
Accounts receivable, net	2,112,000	1,343,000
Licensing receivable	37,000	37,000
Inventory	6,128,000	6,953,000
Prepaid purchases	298,000	107,000
Prepaid expenses and other current assets	410,000	274,000
Total Current Assets	25,726,000	28,604,000
Non-Current Assets:
Property and equipment, net	245,000	95,000
Right-of-use asset-operating leases	509,000	282,000
Right-of-use asset-finance leases	6,000	0
Other assets	84,000	84,000
Total Non-Current Assets	844,000	461,000
Total Assets	26,570,000	29,065,000
Current Liabilities:
Accounts payable and other current liabilities	838,000	1,158,000
Short-term operating lease liability	128,000	93,000
Short-term finance lease liability	1,000	0
Income tax payable, current portion	668,000	531,000
Deferred revenue	149,000	191,000
Total Current Liabilities	1,785,000	1,974,000
Non-Current Liabilities:
Long-term operating lease liability	397,000	198,000
Long-term finance lease liability	6,000	0
Income tax payable-deferred	0	668,000
Total Non-Current Liabilities	403,000	866,000
Total Liabilities	2,188,000	2,840,000
Shareholders’ Equity:
Series A Preferred shares — 10,000,000 shares authorized; 3,677 shares issued and outstanding; liquidation preference of $3,677,000	3,310,000	3,310,000
Common shares — $0.01 par value, 75,000,000 shares authorized; 52,965,797 shares issued at September 30, 2024 and March 31, 2024, respectively; 21,042,652 shares outstanding at September 30, 2024 and March 31, 2024, respectively	529,000	529,000
Additional paid-in capital	79,792,000	79,792,000
Accumulated deficit	(26,048,000)	(24,205,000)
Treasury stock, at cost (31,923,145 shares at September 30, 2024 and March 31, 2024, respectively)	(33,201,000)	(33,201,000)
Total Shareholders’ Equity	24,382,000	26,225,000
Total Liabilities and Shareholders’ Equity	26,570,000	29,065,000
Related Party [Member]
Current Liabilities:
Due to affiliate	$ 1,000	$ 1,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Mar. 31, 2024
Preferred shares, shares authorized (in shares)	10,000,000	10,000,000
Preferred shares, shares issued (in shares)	3,677	3,677
Preferred shares, shares outstanding (in shares)	3,677	3,677
Preferred shares, liquidation preference	$ 3,677	$ 3,677
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	75,000,000	75,000,000
Common shares, shares issued (in shares)	52,965,797	52,965,797
Common shares, shares outstanding (in shares)	21,042,652	21,042,652
Treasury shares (in shares)	31,923,145	31,923,145

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash Flows from Operating Activities:
Net (loss) income	$ (1,843)	$ 2,070
Adjustments to reconcile net loss to net cash (used) by operating activities:
Non-cash lease expense	86	77
Depreciation and amortization	37	10
Changes in assets and liabilities:
Accounts receivable	(769)	(668)
Licensing receivable	0	233
Inventory	825	(1,927)
Prepaid purchases	(191)	(133)
Prepaid expenses and other current assets	(136)	(57)
Other assets	0	(10)
Accounts payable and other current liabilities	(320)	(61)
Right of use assets-operating	(313)	(248)
Right of use assets-finance	(6)	0
Short term lease liabilities	35	23
Long term lease liabilities	199	157
Income taxes payable	(531)	(313)
Advanced deposits	0	(3,316)
Deferred revenue	(42)	(149)
Net cash (used) by operating activities	(2,969)	(4,312)
Cash Flows From Investing Activities:
Purchases of short-term investments	(16,277)	0
Additions to property and equipment	(187)	(85)
Net cash (used) by investing activities	(16,464)	(85)
Cash Flows from Financing Activities:
Short term finance liability	1	0
Long term finance liability	6	0
Net cash provided by financing activities	7	0
Net (decrease) in cash and cash equivalents	(19,426)	(4,397)
Cash and cash equivalents at beginning of the period	19,890	25,268
Cash and cash equivalents at end of the period	464	20,871
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for new operating lease liabilities	313	248
Right-of-use assets obtained in exchange for new finance lease liabilities	6	0
Cash paid for:
Interest	3	3
Income taxes	$ 535	$ 401

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Total
Balance (in shares) at Mar. 31, 2023	3,677	52,965,797
Balance at Mar. 31, 2023	$ 3,310	$ 529	$ 79,792	$ (24,971)	$ (33,201)	$ 25,459
Net (loss) income	$ 0	$ 0	0	(565)	0	(565)
Balance (in shares) at Jun. 30, 2023	3,677	52,965,797
Balance at Jun. 30, 2023	$ 3,310	$ 529	79,792	(25,536)	(33,201)	24,894
Balance (in shares) at Mar. 31, 2023	3,677	52,965,797
Balance at Mar. 31, 2023	$ 3,310	$ 529	79,792	(24,971)	(33,201)	25,459
Net (loss) income						2,070
Balance (in shares) at Sep. 30, 2023	3,677	52,965,797
Balance at Sep. 30, 2023	$ 3,310	$ 529	79,792	(22,901)	(33,201)	27,529
Balance (in shares) at Jun. 30, 2023	3,677	52,965,797
Balance at Jun. 30, 2023	$ 3,310	$ 529	79,792	(25,536)	(33,201)	24,894
Net (loss) income	$ 0	$ 0	0	2,635	0	2,635
Balance (in shares) at Sep. 30, 2023	3,677	52,965,797
Balance at Sep. 30, 2023	$ 3,310	$ 529	79,792	(22,901)	(33,201)	27,529
Balance (in shares) at Mar. 31, 2024	3,677	52,965,797
Balance at Mar. 31, 2024	$ 3,310	$ 529	79,792	(24,205)	(33,201)	26,225
Net (loss) income	$ 0	$ 0	0	(962)	0	(962)
Balance (in shares) at Jun. 30, 2024	3,677	52,965,797
Balance at Jun. 30, 2024	$ 3,310	$ 529	79,792	(25,167)	(33,201)	25,263
Balance (in shares) at Mar. 31, 2024	3,677	52,965,797
Balance at Mar. 31, 2024	$ 3,310	$ 529	79,792	(24,205)	(33,201)	26,225
Net (loss) income						(1,843)
Balance (in shares) at Sep. 30, 2024	3,677	52,965,797
Balance at Sep. 30, 2024	$ 3,310	$ 529	79,792	(26,048)	(33,201)	24,382
Balance (in shares) at Jun. 30, 2024	3,677	52,965,797
Balance at Jun. 30, 2024	$ 3,310	$ 529	79,792	(25,167)	(33,201)	25,263
Net (loss) income	$ 0	$ 0	0	(881)	0	(881)
Balance (in shares) at Sep. 30, 2024	3,677	52,965,797
Balance at Sep. 30, 2024	$ 3,310	$ 529	$ 79,792	$ (26,048)	$ (33,201)	$ 24,382

Note 1 - Background and Basis o

Note 1 - Background and Basis of Presentation	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 BACKGROUND AND BASIS OF PRESENTATION The condensed consolidated financial statements include the accounts of Emerson Radio Corp. and its subsidiaries (“Emerson” or the “Company”). The Company designs, sources, imports and markets certain houseware and consumer electronic products, and licenses the Company’s trademarks for a variety of products. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s condensed consolidated financial position as of September 30, 2024 three six September 30, 2024 September 30, 2023 not not March 31, 2024 2024” 10 2024. The results of operations for the three six September 30, 2024 not may March 31, 2025 2025” Recent Accounting Pronouncement The following Accounting Standards Update (“ASU”) was issued by the Financial Accounting Standards Board (“FASB”) which relate to or could relate to the Company as concerns the Company’s normal ongoing operations or the industry in which the Company operates. Accounting Standards Update 2023 07 Segment Reporting (Topic 280 (Issued October 2023 In November 2023, 2023 07, 280 2023 07" December 15, 2023, December 15, 2024. not Segment Reporting The Company operates as one reportable segment under Accounting Standards Codification "(ASC)" 280, Segment Reporting Revenue Recognition Sales to customers and related cost of sales are primarily recognized at the point in time when control of goods transfers to the customer. The Company recognizes revenue at the time title passes to the customer as this is when the Company satisfies its performance obligation under the contracts with its customers. Control is considered to be transferred when the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of that good. Under the Direct Import Program, title passes in the country of origin when the goods are passed over the rail of the customer’s vessel. Under the Domestic Program, title passes primarily at the time of shipment. Estimates for future expected returns are based upon historical return rates and netted against revenues. R evenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. Revenue is recorded net of customer discounts, promotional allowances, volume rebates and similar charges. When the Company offers the right to return product, historical experience is utilized to establish a liability for the estimate of expected returns. Sales and other tax amounts collected from customers for remittance to governmental authorities are excluded from revenue. Management must make estimates of potential future product returns related to current period product revenue. Management analyzes historical returns, current economic trends and changes in customer demand for the Company’s products when evaluating the adequacy of the reserve for sales returns. Management judgments and estimates must be made and used in connection with establishing the sales return reserves in any accounting period. Additional reserves may Sales allowances, marketing support programs, promotions and other volume-based incentives which are provided to retailers and distributors are accounted for on an accrual basis as a reduction to net revenues in the period in which the related sales are recognized in accordance with ASC topic 606, 606” At the time of sale, the Company reduces recognized gross revenue by allowances to cover, in addition to estimated sales returns as required by ASC 606, not 606. If additional marketing support programs, promotions and other volume-based incentives are required to promote the Company’s products subsequent to the initial sale, then additional reserves may The Company offers limited warranties for its consumer electronics, comparable to those offered to consumers by the Company’s competitors in the United States. Such warranties typically consist of a one Licensing not September 30, 2024, March 31, 2024 September 30, 2023, nil March 31, 2023 Disaggregation of Revenue Three Months Ended September 30, Six Months Ended September 30, Disaggregation of revenue (in 000's) 2024 2023 2024 2023 Net revenues by type: Net product sales $ 2,670 $ 2,414 $ 4,799 $ 4,146 Licensing revenue 68 24 137 101 Total: 2,738 2,438 4,936 4,247 Net revenues by customers: (over 10%) Walmart $ 1,190 $ 1,525 $ 2,038 $ 2,345 Amazon.com 999 517 1,984 1,085 Fred Meyer 379 287 544 618 Total: 2,568 2,329 4,566 4,048

Note 2 - Earnings Per Share

Note 2 - Earnings Per Share	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 2 — EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts). Weighted average shares includes the impact of shares held in treasury. Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Numerator: Net (loss) income $ (881 ) $ 2,635 $ (1,843 ) $ 2,070 Denominator: Denominator for basic and diluted loss/income per share — weighted average shares 21,042,652 21,042,652 21,042,652 21,042,652 Net (loss) income per share: Basic and diluted (loss) income per share $ (0.04 ) $ 0.13 $ (0.09 ) $ 0.10

Note 3 - Shareholders' Equity

Note 3 - Shareholders' Equity	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 3 — SHAREHOLDERS ’ EQUITY Outstanding capital stock at September 30, 2024 no not March 31, 2002; At September 30, 2024

Note 4 - Inventory

Note 4 - Inventory	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 4 — INVENTORY Inventories, which consist primarily of finished goods, are stated at the lower of cost or net realizable value. Cost is determined using the first first September 30, 2024 March 31, 2024 September 30, 2024 March 31, 2024 Finished goods $ 6,128 $ 6,953

Note 5 - Income Taxes

Note 5 - Income Taxes	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 5 — INCOME TAXES At September 30, 2024 , the Company had $16.6 million of U.S. federal net operating loss (“NOL”) carry forwards. These losses do not one September 30, 2024 , the Company had approximately $16.7 million of U.S. state NOL carry forwards. The tax benefits related to these state NOL carry forwards and future deductible temporary differences are recorded to the extent management believes it is more likely than not The income of foreign subsidiaries before taxes was $249,000 for the three September 30, 2024 as compared to income of foreign subsidiaries before taxes of $296,000 for the three September 30, 2023 . The income of foreign subsidiaries before taxes was $520,000 for the six September 30, 2024 as compared to income of foreign subsidiaries before taxes of $599,000 for the six September 30, 2023 . The Company analyzed the future reasonability of recognizing its deferred tax assets at September 30, 2024 . As a result, the Company concluded that a 100% valuation allowance of approximately $4,837,000 would be recorded against the assets. Although the Company generated a net operating loss, it recorded income tax expense of approximately nil three six September 30, 2024 , respectively, primarily resulting from state income taxes. During the three six September 30, 2023 , the Company generated net income and recorded income tax expense of approximately $88,000 and $88,000, respectively, of which approximately $9,000 resulted from state income taxes.. After the adoption of ASU 2019 12 740 2022, The Company is subject to examination and assessment by tax authorities in numerous jurisdictions. As of September 30, 2024 , the Company’s open tax years for examination for U.S. federal tax are 2017 2024, 2015 2024. may may As of September 30, 2024 , the Company is asserting under ASC 740 30 As of September 30, 2024 and March 31, 2024 , the Company had a federal tax liability of approximately $668,000 and $1,202,000, respectively, related to the repatriation of the Company’s undistributed earnings of its foreign subsidiaries as required by the Tax Cuts and Jobs Act of 2017 September 30, 2024 and March 31, 2024, nil The liability is payable over 8 years. The first five sixth seventh September 30, 2024 , the Company has paid seven eight July 15 th of the year in which such installment is due.

Note 6 - Related Party Transact

Note 6 - Related Party Transactions	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 6 — RELATED PARTY TRANSACTIONS From time to time, Emerson engages in business transactions with its controlling shareholder, Nimble Holdings Company Limited (“Nimble”), formerly known as The Grande Holdings Limited (“Grande”), and one Controlling Shareholder S&T International Distribution Limited (“S&T”), which is a wholly owned subsidiary of Grande N.A.K.S. Ltd., which is a wholly owned subsidiary of Nimble, collectively have, based on a Schedule 13D/A February 15, 2019, September 30, 2024 . Accordingly, the Company is a “controlled company” as defined in Section 801 Related Party Transactions Charges of rental and utility fees on office space in Hong Kong During the three six September 30, 2024 , the Company was billed approximately $36,000 and $76,000, respectively, for rental and utility fees from Vigers Appraisal and Consulting Ltd (“VACL”), which is a company related to the Company’s Chairman of the Board of Directors ("Chairman"). As of September 30, 2024 the Company owed approximately $1,000 to VACL related to these charges. During the three six September 30, 2023, for rental and utility fees from VACL, which is a company related to the Company's Chairman. As of September 30, 2023 Charges for promotional items During the three six September 30, 2024 nil September 30, 2024 the Company owed nil three six September 30, 2023, no

Note 7 - Short Term Deposits an

Note 7 - Short Term Deposits and Investments	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Investment [Text Block]	NOTE 7 — SHORT TERM DEPOSITS AND INVESTMENTS As of September 30, 2024 and March 31, 2024 , the Company held nil 90 September 30, 2024 and March 31, 2024 , the Company held approximately $16.3 million and nil, 90

Note 8 - Concentration Risk

Note 8 - Concentration Risk	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 8 — CONCENTRATION RISK Customer Concentration For the three September 30, 2024 , the Company’s three No 10% For the six month period ended September 30, 2024 , the Company’s three No 10% For the three September 30, 2023 , the Company’s three No 10% For the six month period ended September 30, 2023 , the Company’s three No 10% A significant decline in net sales to any of the Company’s key customers would have a material adverse effect on the Company’s business, financial condition and results of operation. Product Concentration For the three six September 30, 2024 , the Company’s gross product sales included microwave ovens, which generated approximately 43% and 45%, respectively, of the Company’s gross product sales and audio products, which generated approximately 55% and 52%, respectively, of the Company’s gross product sales. No 10% For the three six September 30, 2023 , the Company’s gross product sales included microwave ovens, which generated approximately 27% and 32%, respectively, of the Company’s gross product sales and audio products, which generated approximately 70% and 66%, respectively, of the Company’s gross product sales. No 10% Concentrations of Credit Risk As a percentage of the Company’s total trade accounts receivable, net of specific reserves, the Company’s top four September 30, 2024 . No 10% three March 31, 2024 . No 10% not two one The Company maintains its cash accounts with major U.S. and foreign financial institutions. The Company’s cash balances on deposit in the U.S. as of September 30, 2024 and March 31, 2024 were insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 per qualifying bank account in accordance with FDIC rules. The Company’s cash, cash equivalents and restricted cash balances in excess of these FDIC-insured limits were approximately $0.2 million and approximately $19.6 million at September 30, 2024 and March 31, 2024 , respectively. Supplier Concentration During the three September 30, 2024 four ich approximately 47% was supplied by its largest supplier and approximately 16%, 16% and 12%, respectively, was supplied by the other three three September 30, 2023 , the Company procured 80% of its products for resale from its three two No 10% three September 30, 2024 or September 30, 2023 . During the six month period ended September 30, 2024 , the Company procured 100% of its products for resale from its five three six month period ended September 30, 2023 , the Company procured 80% of its products for resale from its three two No 10% six m September 30, 2024 September 30, 2023

Note 9 - Leases

Note 9 - Leases	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lessee Lease Disclosure [Text Block]	NOTE 9 — LEASES The Company leases office space in the U.S. and in Hong Kong as well as a copier in the U.S. These leases have remaining non-cancellable lease terms of thirty-five fifty-seven not not September 30, 2024 to indicate that a reassessment or re-measurement of the Company’s existing leases was required. As of September 30, 2024 , the Company’s current operating lease liabilities and finance lease liabilities were $128,000 and $1,000, respectively and its non-current operating lease liabilities and finance lease liabilities were $397,000 and $6,000, respectively. The Company’s operating and finance lease right-of-use asset balances are presented in non-current assets. The net balance of the Company’s operating and finance lease right-of-use assets as of September 30, 2024 was $509,000 and $6,000, respectively. As disclosed in "Note 6 September 30, 2024 , the current operating liability of this lease is approximately $95,000 and its non-current liability is $211,000. Its right-of-use asset value is approximately $306,000, as of September 30, 2024 . The components of lease costs, which were included in operating expenses in the Company’s condensed consolidated statements of operations, were as follows: Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Lease cost Operating lease cost $ 48 $ 52 $ 100 $ 89 The supplemental cash flow information related to leases are as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 42 43 95 80 Right-of-use assets obtained in exchange for lease obligations: Operating leases 313 248 313 248 Finance leases 6 — 6 — Information relating to the lease term and discount rate are as follows: Weighted average remaining lease term (in months) As of September 30, 2024 As of September 30, 2023 Operating leases 41.3 44.7 Finance leases 56.2 8.2 Weighted average discount rate Operating leases 10.39 % 9.28 % Finance leases 10.50 % 7.50 % As of September 30, 2024 (in thousands) Operating Leases Finance Leases 2025 $ 92 $ 1 2026 226 2 2027 187 2 2028 118 2 2029 52 2 Thereafter — — Total lease payments $ 675 $ 9 Less: Imputed interest (150 ) (2 ) Total $ 525 $ 7

Note 10 - Legal Proceedings

Note 10 - Legal Proceedings	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	NOTE 10 — LEGAL PROCEEDINGS On October 10, 2023, $4.1 September 30, 2023. no no not not not

Note 11 - Subsequent Events

Note 11 - Subsequent Events	6 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 — SUBSEQUENT EVENTS As of the filing date of this Form 10 no

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. (a) None (b) None (c) None
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	The condensed consolidated financial statements include the accounts of Emerson Radio Corp. and its subsidiaries (“Emerson” or the “Company”). The Company designs, sources, imports and markets certain houseware and consumer electronic products, and licenses the Company’s trademarks for a variety of products. The unaudited condensed consolidated financial statements reflect all normal and recurring adjustments that are, in the opinion of management, necessary to present a fair statement of the Company’s condensed consolidated financial position as of September 30, 2024 three six September 30, 2024 September 30, 2023 not not March 31, 2024 2024” 10 2024. The results of operations for the three six September 30, 2024 not may March 31, 2025 2025”
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncement The following Accounting Standards Update (“ASU”) was issued by the Financial Accounting Standards Board (“FASB”) which relate to or could relate to the Company as concerns the Company’s normal ongoing operations or the industry in which the Company operates. Accounting Standards Update 2023 07 Segment Reporting (Topic 280 (Issued October 2023 In November 2023, 2023 07, 280 2023 07" December 15, 2023, December 15, 2024. not
Segment Reporting, Policy [Policy Text Block]	Segment Reporting The Company operates as one reportable segment under Accounting Standards Codification "(ASC)" 280, Segment Reporting
Revenue [Policy Text Block]	Revenue Recognition Sales to customers and related cost of sales are primarily recognized at the point in time when control of goods transfers to the customer. The Company recognizes revenue at the time title passes to the customer as this is when the Company satisfies its performance obligation under the contracts with its customers. Control is considered to be transferred when the customer has the ability to direct the use of and obtain substantially all of the remaining benefits of that good. Under the Direct Import Program, title passes in the country of origin when the goods are passed over the rail of the customer’s vessel. Under the Domestic Program, title passes primarily at the time of shipment. Estimates for future expected returns are based upon historical return rates and netted against revenues. R evenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. Revenue is recorded net of customer discounts, promotional allowances, volume rebates and similar charges. When the Company offers the right to return product, historical experience is utilized to establish a liability for the estimate of expected returns. Sales and other tax amounts collected from customers for remittance to governmental authorities are excluded from revenue. Management must make estimates of potential future product returns related to current period product revenue. Management analyzes historical returns, current economic trends and changes in customer demand for the Company’s products when evaluating the adequacy of the reserve for sales returns. Management judgments and estimates must be made and used in connection with establishing the sales return reserves in any accounting period. Additional reserves may Sales allowances, marketing support programs, promotions and other volume-based incentives which are provided to retailers and distributors are accounted for on an accrual basis as a reduction to net revenues in the period in which the related sales are recognized in accordance with ASC topic 606, 606” At the time of sale, the Company reduces recognized gross revenue by allowances to cover, in addition to estimated sales returns as required by ASC 606, not 606. If additional marketing support programs, promotions and other volume-based incentives are required to promote the Company’s products subsequent to the initial sale, then additional reserves may The Company offers limited warranties for its consumer electronics, comparable to those offered to consumers by the Company’s competitors in the United States. Such warranties typically consist of a one Licensing not September 30, 2024, March 31, 2024 September 30, 2023, nil March 31, 2023 Disaggregation of Revenue Three Months Ended September 30, Six Months Ended September 30, Disaggregation of revenue (in 000's) 2024 2023 2024 2023 Net revenues by type: Net product sales $ 2,670 $ 2,414 $ 4,799 $ 4,146 Licensing revenue 68 24 137 101 Total: 2,738 2,438 4,936 4,247 Net revenues by customers: (over 10%) Walmart $ 1,190 $ 1,525 $ 2,038 $ 2,345 Amazon.com 999 517 1,984 1,085 Fred Meyer 379 287 544 618 Total: 2,568 2,329 4,566 4,048

Note 1 - Background and Basis_2

Note 1 - Background and Basis of Presentation (Tables)	6 Months Ended
	Sep. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, Disaggregation of revenue (in 000's) 2024 2023 2024 2023 Net revenues by type: Net product sales $ 2,670 $ 2,414 $ 4,799 $ 4,146 Licensing revenue 68 24 137 101 Total: 2,738 2,438 4,936 4,247 Net revenues by customers: (over 10%) Walmart $ 1,190 $ 1,525 $ 2,038 $ 2,345 Amazon.com 999 517 1,984 1,085 Fred Meyer 379 287 544 618 Total: 2,568 2,329 4,566 4,048

Note 2 - Earnings Per Share (Ta

Note 2 - Earnings Per Share (Tables)	6 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Numerator: Net (loss) income $ (881 ) $ 2,635 $ (1,843 ) $ 2,070 Denominator: Denominator for basic and diluted loss/income per share — weighted average shares 21,042,652 21,042,652 21,042,652 21,042,652 Net (loss) income per share: Basic and diluted (loss) income per share $ (0.04 ) $ 0.13 $ (0.09 ) $ 0.10

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	6 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2024 March 31, 2024 Finished goods $ 6,128 $ 6,953

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	6 Months Ended
	Sep. 30, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 (in thousands) (in thousands) Lease cost Operating lease cost $ 48 $ 52 $ 100 $ 89 The supplemental cash flow information related to leases are as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 42 43 95 80 Right-of-use assets obtained in exchange for lease obligations: Operating leases 313 248 313 248 Finance leases 6 — 6 —
Summary of Information Relating To Lease Term And Discount Rate [Table Text Block]	Weighted average remaining lease term (in months) As of September 30, 2024 As of September 30, 2023 Operating leases 41.3 44.7 Finance leases 56.2 8.2 Weighted average discount rate Operating leases 10.39 % 9.28 % Finance leases 10.50 % 7.50 %
Operating and Finance Lease Liability Maturity [Table Text Block]	(in thousands) Operating Leases Finance Leases 2025 $ 92 $ 1 2026 226 2 2027 187 2 2028 118 2 2029 52 2 Thereafter — — Total lease payments $ 675 $ 9 Less: Imputed interest (150 ) (2 ) Total $ 525 $ 7

Note 1 - Background and Basis_3

Note 1 - Background and Basis of Presentation (Details Textual)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Sep. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Number of Reportable Segments		1
Contract with Customer, Liability, Current		$ 149,000	$ 191,000	$ 0	$ 149,000
Microwave Ovens [Member]
Product Warranty, Term (Year)	1 year
Audio Products [Member]
Product Warranty, Term (Year)	90 days

Note 1 - Background and Basis_4

Note 1 - Background and Basis of Presentation - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues, Type	$ 2,738	$ 2,438	$ 4,936	$ 4,247
Walmart [Member]
Revenues, Type	1,190	1,525	2,038	2,345
Amazon [Member]
Revenues, Type	999	517	1,984	1,085
Fred Meyer [Member]
Revenues, Type	379	287	544	618
Three Largest Customers [Member]
Revenues, Type	2,568	2,329	4,566	4,048
Product [Member]
Revenues, Type	2,670	2,414	4,799	4,146
License [Member]
Revenues, Type	$ 68	$ 24	$ 137	$ 101

Note 2 - Net Income (Loss) Per

Note 2 - Net Income (Loss) Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net (loss) income	$ (881)	$ (962)	$ 2,635	$ (565)	$ (1,843)	$ 2,070
Weighted average shares outstanding
Basic (in shares)	21,042,652		21,042,652		21,042,652	21,042,652
Net (loss) income per share:
Basic (loss) income per share (in dollars per share)	$ (0.04)		$ 0.13		$ (0.09)	$ 0.1

Note 3 - Shareholders' Equity (

Note 3 - Shareholders' Equity (Details Textual) shares in Thousands	Sep. 30, 2024 shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares)	0
Class of Warrant or Right, Outstanding (in shares)	0
Potentially Dilutive Securities Outstanding (in shares)	0

Note 4 - Inventory - Schedule o

Note 4 - Inventory - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Finished goods	$ 6,128	$ 6,953

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		18 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Mar. 31, 2024
Income (Loss) from Continuing Operations before Income Taxes, Foreign	$ 249,000	$ 296,000	$ 520,000	$ 599,000
Deferred Tax Asset, Valuation Allowance Percent			100%
Deferred Tax Assets, Valuation Allowance	4,837,000		$ 4,837,000		$ 4,837,000
Income Tax Expense (Benefit)	0	$ 88,000	3,000	$ 88,000
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability	668,000		668,000		668,000	$ 1,202,000
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Current	668,000		668,000		668,000	534,000
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Noncurrent	0		$ 0		0	$ 668,000
Federal Tax Liability Payable, Duration (Year)			8 years
Percentage of Federal Tax Liability Payable in First Five Installments			8%
Percentage of Federal Tax Liability Payable in Sixth Installment			15%
Percentage of Federal Tax Liability Payable in Seventh Installment			20%
Percentage of Federal Tax Liability Payable in Final Installment			25%
Accounting Standards Update 2019-12 [Member]
Income Tax Expense (Benefit)					9,000
Domestic Tax Jurisdiction [Member]
Operating Loss Carryforwards	16,600,000		$ 16,600,000		16,600,000
Open Tax Year			2017 2018 2019 2020 2021 2022 2023 2024
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 16,700,000		$ 16,700,000		$ 16,700,000
Percentage of Net Operation Loss Carry Forwards, Utilization Limit Against Taxable Income			80%
Open Tax Year			2015 2016 2017 2018 2019 2020 2022 2023 2024

Note 6 - Related Party Transa_2

Note 6 - Related Party Transactions (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024
Majority Shareholder [Member]
Ownership Interest, Number of Shares (in shares)					15,243,283
Ownership Interest Percentage					72.40%
Vigers Appraisal And Consulting Ltd [Member]
Income From Advanced Payment of Rental and Utility Fees	$ 36,000	$ 40,000	$ 76,000	$ 79,000
Accounts Payable		$ 1,000		$ 1,000	$ 1,000
The Whisky Capital Pte Ltd [Member]
Accounts Payable	0		0
Payments to Suppliers	$ 0		$ 30,000

Note 7 - Short Term Deposits _2

Note 7 - Short Term Deposits and Investments (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Short-Term Investments	$ 16,277	$ 0
Cash Equivalents [Member]
Certificates of Deposit, at Carrying Value	$ 0	$ 19,100

Note 8 - Concentration Risk (De

Note 8 - Concentration Risk (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2024 USD ($)
Cash, Uninsured Amount	$ 200,000		$ 200,000		$ 19,600,000
Maximum [Member]
Cash, FDIC Insured Amount		$ 250,000		$ 250,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Customers	3	3	3	3
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Microwave Ovens [Member]
Concentration Risk, Percentage	43%	27%	45%	32%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Audio Products [Member]
Concentration Risk, Percentage		70%	52%	66%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Largest Customers [Member]
Concentration Risk, Percentage	86%	90%	84%	89%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Walmart [Member]
Concentration Risk, Percentage	42%	60%	39%	53%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Amazon [Member]
Concentration Risk, Percentage	31%	19%	34%	22%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Fred Meyer [Member]
Concentration Risk, Percentage	13%	11%	11%	14%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Audio Products [Member]
Concentration Risk, Percentage	55%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Customers			4		3
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member]
Concentration Risk, Percentage			42%		34%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk, Percentage			23%		30%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Three [Member]
Concentration Risk, Percentage			16%		25%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Four [Member]
Concentration Risk, Percentage			14%
Supplier Concentration Risk [Member] | Products for Resale [Member]
Number of Customers		3	5
Number of Factory Suppliers	4			3
Supplier Concentration Risk [Member] | Products for Resale [Member] | Largest Supplier [Member]
Concentration Risk, Percentage		34%	38%	39%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier One [Member]
Concentration Risk, Percentage		31%	19%	24%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Three [Member]
Concentration Risk, Percentage		15%	16%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Five Largest Factory Suppliers [Member]
Concentration Risk, Percentage			100%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Two [Member]
Concentration Risk, Percentage			17%	17%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Four [Member]
Concentration Risk, Percentage			10%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Three Largest Factory Suppliers [Member]
Concentration Risk, Percentage				80%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Four Largest Factory Suppliers [Member]
Concentration Risk, Percentage	91%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Largest Supplier [Member]
Concentration Risk, Percentage	47%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier One [Member]
Concentration Risk, Percentage	16%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Two [Member]
Concentration Risk, Percentage	16%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Three [Member]
Concentration Risk, Percentage	12%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Three Largest Factory Suppliers [Member]
Concentration Risk, Percentage		80%

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($)	Sep. 30, 2024	Mar. 31, 2024
Operating Lease, Liability, Current	$ 128,000	$ 93,000
Finance Lease, Liability, Current	1,000	0
Operating Lease, Liability, Noncurrent	397,000	198,000
Finance Lease, Liability, Noncurrent	6,000	0
Operating Lease, Right-of-Use Asset	509,000	282,000
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	6,000	$ 0
Vigers Appraisal And Consulting Ltd [Member]
Operating Lease, Liability, Current	95,000
Operating Lease, Liability, Noncurrent	211,000
Operating Lease, Right-of-Use Asset	$ 306,000
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	35 years
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	57 years

Note 9 - Leases - Summary of Co

Note 9 - Leases - Summary of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lease cost
Operating lease cost	$ 48	$ 52	$ 100	$ 89
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	42	43	95	80
Right-of-use assets obtained in exchange for lease obligations:
Right-of-use assets obtained in exchange for new operating lease liabilities	313	248	313	248
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 6	$ 0	$ 6	$ 0

Note 9 - Leases - Summary of In

Note 9 - Leases - Summary of Information Relating to Lease Term and Discount Rate (Details)	Sep. 30, 2024	Sep. 30, 2023
Operating leases (Month)	41 months 9 days	44 months 21 days
Finance leases (Month)	56 months 6 days	8 months 6 days
Operating leases	10.39%	9.28%
Finance leases	10.50%	7.50%

Note 9 - Leases - Summary of Ma

Note 9 - Leases - Summary of Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2024 USD ($)
2025, operating lease	$ 92
2025, finance lease	1
2026, operating lease	226
2026, finance lease	2
2027, operating lease	187
2027, finance lease	2
2028, operating lease	118
2028, finance lease	2
2029, operating lease	52
2029, finance lease	2
Thereafter, operating lease	0
Thereafter, finance lease	0
Operating Leases, Total lease payments	675
Finance Leases, Total lease payments	9
Operating Leases, Less: Imputed interest	(150)
Finance Leases, Less: Imputed interest	(2)
Operating Leases, Total	525
Finance Leases, Total	$ 7

Note 10 - Legal Proceedings (De

Note 10 - Legal Proceedings (Details Textual) - USD ($) $ in Millions		3 Months Ended	6 Months Ended	18 Months Ended
	Oct. 10, 2023	Sep. 30, 2023	Sep. 30, 2024	Oct. 09, 2023
Loss Contingency, Damages Awarded, Value	$ 10.4			$ 6.5
Loss Contingency, Damages Paid, Value			$ 4.1
Legal Fees			$ 1
Increase (Decrease) in Deposits		$ (3.1)