Emerson Radio (MSN) 10-Q 14 Feb 25 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Dec. 31, 2024	Feb. 14, 2025
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	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 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	NYSEAMER
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		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Net revenues:
Revenue	$ 4,003,000	$ 2,622,000	$ 8,939,000	$ 6,869,000
Costs and expenses:
Cost of sales	3,512,000	2,144,000	7,982,000	5,654,000
Selling, general and administrative expenses	1,224,000	1,202,000	4,029,000	3,464,000
Total cost of sales and SG&A	4,736,000	3,346,000	12,011,000	9,118,000
Operating loss	(733,000)	(724,000)	(3,072,000)	(2,249,000)
Other income:
Settlement of litigation	0	0	0	3,100,000
Interest income, net	206,000	289,000	705,000	872,000
(Loss) income before income taxes	(527,000)	(435,000)	(2,367,000)	1,723,000
(Benefit) provision for income tax expense	0	(14,000)	3,000	74,000
Net (loss) income	$ (527,000)	$ (421,000)	$ (2,370,000)	$ 1,649,000
Basic (loss) income per share (in dollars per share)	$ (0.03)	$ (0.02)	$ (0.11)	$ 0.08
Diluted (loss) income per share (in dollars per share)	$ (0.03)	$ (0.02)	$ (0.11)	$ 0.08
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	$ 3,892,000	$ 2,599,000	$ 8,691,000	$ 6,745,000
License [Member]
Net revenues:
Revenue	$ 111,000	$ 23,000	$ 248,000	$ 124,000

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Current Assets:
Cash and cash equivalents	$ 689,000	$ 19,890,000
Short term investments	15,756,000	0
Accounts receivable, net of allowances for credit losses of $313,000 and $257,000 as of December 31, 2024 and March 31, 2024, respectively	3,512,000	1,343,000
Licensing receivable	29,000	37,000
Inventory	5,157,000	6,953,000
Prepaid purchases	139,000	107,000
Prepaid expenses and other current assets	281,000	274,000
Total Current Assets	25,563,000	28,604,000
Non-Current Assets:
Property and equipment, net	232,000	95,000
Right-of-use asset-operating leases	476,000	282,000
Right-of-use asset-finance leases	6,000	0
Other assets	77,000	84,000
Total Non-Current Assets	791,000	461,000
Total Assets	26,354,000	29,065,000
Current Liabilities:
Accounts payable and other current liabilities	1,205,000	1,158,000
Short-term operating lease liability	132,000	93,000
Short-term finance lease liability	1,000	0
Income tax payable, current portion	668,000	531,000
Deferred revenue	127,000	191,000
Total Current Liabilities	2,134,000	1,974,000
Non-Current Liabilities:
Long-term operating lease liability	360,000	198,000
Long-term finance lease liability	5,000	0
Income tax payable-deferred	0	668,000
Total Non-Current Liabilities	365,000	866,000
Total Liabilities	2,499,000	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 December 31, 2024 and March 31, 2024, respectively; 21,042,652 shares outstanding at December 31, 2024 and March 31, 2024, respectively	529,000	529,000
Additional paid-in capital	79,792,000	79,792,000
Accumulated deficit	(26,575,000)	(24,205,000)
Treasury stock, at cost (31,923,145 shares at December 31, 2024 and March 31, 2024, respectively)	(33,201,000)	(33,201,000)
Total Shareholders’ Equity	23,855,000	26,225,000
Total Liabilities and Shareholders’ Equity	26,354,000	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	Dec. 31, 2024	Mar. 31, 2024
Allowance for credit losses	$ 313	$ 257
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	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash Flows from Operating Activities:
Net (loss) income	$ (2,370)	$ 1,649
Adjustments to reconcile net loss to net cash (used) by operating activities:
Non-cash lease expense	119	121
Depreciation and amortization	58	17
Changes in assets and liabilities:
Accounts receivable	(2,169)	78
Licensing receivable	8	17
Inventory	1,796	(1,948)
Prepaid purchases	(32)	110
Prepaid expenses and other current assets	(7)	(7)
Other assets	7	(10)
Accounts payable and other current liabilities	47	646
Right of use assets-operating	(313)	(248)
Right of use assets-finance	(6)	0
Short term lease liabilities	39	(11)
Long term lease liabilities	162	146
Income taxes payable	(531)	(326)
Advanced deposits	0	(3,316)
Deferred revenue	(64)	63
Net cash (used) by operating activities	(3,256)	(3,019)
Cash Flows From Investing Activities:
Proceeds from sale of short-term investments	521	0
Purchases of short-term investments	(16,277)	(18,505)
Additions to property and equipment	(195)	(107)
Net cash (used) by investing activities	(15,951)	(18,612)
Cash Flows from Financing Activities:
Short term finance liability	1	0
Long term finance liability	5	0
Net cash provided by financing activities	6	0
Net (decrease) in cash and cash equivalents	(19,201)	(21,631)
Cash and cash equivalents at beginning of the period	19,890	25,268
Cash and cash equivalents at end of the period	689	3,637
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	6	4
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						1,649
Balance (in shares) at Dec. 31, 2023	3,677	52,965,797
Balance at Dec. 31, 2023	$ 3,310	$ 529	79,792	(23,322)	(33,201)	27,108
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
Net (loss) income	$ 0	$ 0	0	(421)	0	(421)
Balance (in shares) at Dec. 31, 2023	3,677	52,965,797
Balance at Dec. 31, 2023	$ 3,310	$ 529	79,792	(23,322)	(33,201)	27,108
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						(2,370)
Balance (in shares) at Dec. 31, 2024	3,677	52,965,797
Balance at Dec. 31, 2024	$ 3,310	$ 529	79,792	(26,575)	(33,201)	23,855
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
Net (loss) income	$ 0	$ 0	0	(527)	0	(527)
Balance (in shares) at Dec. 31, 2024	3,677	52,965,797
Balance at Dec. 31, 2024	$ 3,310	$ 529	$ 79,792	$ (26,575)	$ (33,201)	$ 23,855

Note 1 - Background and Basis o

Note 1 - Background and Basis of Presentation	9 Months Ended
	Dec. 31, 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 December 31, 2024 three nine December 31, 2024 December 31, 2023 not not March 31, 2024 2024 10 2024. The results of operations for the three nine December 31, 2024 not may March 31, 2025 2025 Recent Accounting Pronouncements The following Accounting Standards Updates (“ASUs”) were 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 Accounting Standards Update 2024 03 (Subtopic 220 40 (Issued November 2024 In November 2024, No. 2024 03 220 40 December 15, 2026, December 15, 2027. Segment Reporting The Company operates as one 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 December 31, 2024 March 31, 2024 December 31, 2023 March 31, 2023 Disaggregation of Revenue Three Months Ended December 31, Nine Months Ended December 31, Disaggregation of revenue (in 000's) 2024 2023 2024 2023 Net revenues by type: Net product sales $ 3,892 $ 2,599 $ 8,691 $ 6,745 Licensing revenue 111 23 248 124 Total: 4,003 2,622 8,939 6,869 Net revenues by customers: (over 10%) Amazon.com $ 1,714 $ 509 $ 3,406 $ 1,458 Walmart 1,013 1,692 2,945 3,951 Big Lots 957 — 957 — Fred Meyer — — — 718 Total: 3,684 2,201 7,308 6,127

Note 2 - Earnings Per Share

Note 2 - Earnings Per Share	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Numerator: Net (loss) income $ (527 ) $ (421 ) $ (2,370 ) $ 1,649 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 $ (0.03 ) $ (0.02 ) $ (0.11 ) $ 0.08

Note 3 - Shareholders' Equity

Note 3 - Shareholders' Equity	9 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 3 — SHAREHOLDERS ’ EQUITY Outstanding capital stock at December 31, 2024 no not March 31, 2002; At December 31, 2024

Note 4 - Inventory

Note 4 - Inventory	9 Months Ended
	Dec. 31, 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 December 31, 2024 March 31, 2024 December 31, 2024 March 31, 2024 Finished goods $ 5,157 $ 6,953

Note 5 - Income Taxes

Note 5 - Income Taxes	9 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 5 INCOME TAXES At December 31, 2024 , the Com not one December 31, 2024 not The Company analyzed the future reasonability of recognizing its deferred tax assets at December 31, 2024 100% The income of foreign subsidiaries before taxes was $218,000 for the three December 31, 2024 three December 31, 2023 nine December 31, 2024 nine December 31, 2023 Although the Company generated a net operating loss, it recorded income tax expense of approximately nil three nine December 31, 2024 three nine December 31, 2023 2019 12 740 2022, The Company is subject to examination and assessment by tax authorities in numerous jurisdictions. As of December 31, 2024 2017 2024, 2015 2024. may may As of December 31, 2024 740 30 As of December 31, 2024 March 31, 2024 2017 December 31, 2024 March 31, 2024 nil The liability is payable over 8 years. The first five qual to 8%, the sixth seventh December 31, 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	9 Months Ended
	Dec. 31, 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, December 31, 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 nine December 31, 2024 December 31, 2024 three nine December 31, 2023 December 31, 2023 Charges for promotional items During the three nine December 31, 2024 nil December 31, 2024 nil three nine December 31, 2023 no

Note 7 - Short Term Deposits an

Note 7 - Short Term Deposits and Investments	9 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Investment [Text Block]	NOTE 7 SHORT TERM DEPOSITS AND INVESTMENTS As of December 31, 2024 March 31, 2024 90 December 31, 2024 March 31, 2024 nil, vely, in short term investments which had maturity dates greater than 90

Note 8 - Concentration Risk

Note 8 - Concentration Risk	9 Months Ended
	Dec. 31, 2024
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 8 — CONCENTRATION RISK Customer Concentration For the three December 31, 2024 three No 10% For the nine December 31, 2024 three No 10% For the three December 31, 2023 two No 10% For the nine December 31, 2023 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 nine December 31, 2024 No 10% For the three nine December 31, 2023 s 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 three December 31, 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 December 31, 2024 March 31, 2024 $250,000 December 31, 2024 March 31, 2024 Supplier Concentration During the three December 31, 2024 four three three December 31, 2023 three two No 10% three December 31, 2024 December 31, 2023 During the nine December 31, 2024 five four nine December 31, 2023 four two No 10% nine December 31, 2024 December 31, 2023

Note 9 - Leases

Note 9 - Leases	9 Months Ended
	Dec. 31, 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-two fifty-four not not December 31, 2024 As of December 31, 2024 December 31, 2024 As disclosed in "Note 6 December 31, 2024 December 31, 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 December 31, Nine Months Ended December 31, 2024 2023 2024 2023 (in thousands) (in thousands) Lease cost Operating lease cost $ 45 $ 52 $ 145 $ 141 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 46 43 141 123 Right-of-use assets obtained in exchange for lease obligations: Operating leases — — 313 248 Finance leases — — 6 — Information relating to the lease term and discount rate are as follows: Weighted average remaining lease term (in months) As of December 31, 2024 As of December 31, 2023 Operating leases 38.4 44.7 Finance leases 53.2 5.2 Weighted average discount rate Operating leases 10.39 % 9.58 % Finance leases 10.50 % 7.50 % As of December 31, 2024 (in thousands) Operating Leases Finance Leases 2025 $ 46 $ 1 2026 175 2 2027 187 2 2028 118 2 2029 52 1 Thereafter — — Total lease payments $ 578 $ 8 Less: Imputed interest (86 ) (2 ) Total $ 492 $ 6

Note 10 - Legal Proceedings

Note 10 - Legal Proceedings	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 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	9 Months Ended
	Dec. 31, 2024	Dec. 31, 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)	9 Months Ended
	Dec. 31, 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 December 31, 2024 three nine December 31, 2024 December 31, 2023 not not March 31, 2024 2024 10 2024. The results of operations for the three nine December 31, 2024 not may March 31, 2025 2025
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements The following Accounting Standards Updates (“ASUs”) were 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 Accounting Standards Update 2024 03 (Subtopic 220 40 (Issued November 2024 In November 2024, No. 2024 03 220 40 December 15, 2026, December 15, 2027.
Segment Reporting, Policy [Policy Text Block]	Segment Reporting The Company operates as one 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 December 31, 2024 March 31, 2024 December 31, 2023 March 31, 2023 Disaggregation of Revenue Three Months Ended December 31, Nine Months Ended December 31, Disaggregation of revenue (in 000's) 2024 2023 2024 2023 Net revenues by type: Net product sales $ 3,892 $ 2,599 $ 8,691 $ 6,745 Licensing revenue 111 23 248 124 Total: 4,003 2,622 8,939 6,869 Net revenues by customers: (over 10%) Amazon.com $ 1,714 $ 509 $ 3,406 $ 1,458 Walmart 1,013 1,692 2,945 3,951 Big Lots 957 — 957 — Fred Meyer — — — 718 Total: 3,684 2,201 7,308 6,127

Note 1 - Background and Basis_2

Note 1 - Background and Basis of Presentation (Tables)	9 Months Ended
	Dec. 31, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, Disaggregation of revenue (in 000's) 2024 2023 2024 2023 Net revenues by type: Net product sales $ 3,892 $ 2,599 $ 8,691 $ 6,745 Licensing revenue 111 23 248 124 Total: 4,003 2,622 8,939 6,869 Net revenues by customers: (over 10%) Amazon.com $ 1,714 $ 509 $ 3,406 $ 1,458 Walmart 1,013 1,692 2,945 3,951 Big Lots 957 — 957 — Fred Meyer — — — 718 Total: 3,684 2,201 7,308 6,127

Note 2 - Earnings Per Share (Ta

Note 2 - Earnings Per Share (Tables)	9 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Numerator: Net (loss) income $ (527 ) $ (421 ) $ (2,370 ) $ 1,649 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 $ (0.03 ) $ (0.02 ) $ (0.11 ) $ 0.08

Note 4 - Inventory (Tables)

Note 4 - Inventory (Tables)	9 Months Ended
	Dec. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2024 March 31, 2024 Finished goods $ 5,157 $ 6,953

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	9 Months Ended
	Dec. 31, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 (in thousands) (in thousands) Lease cost Operating lease cost $ 45 $ 52 $ 145 $ 141 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 46 43 141 123 Right-of-use assets obtained in exchange for lease obligations: Operating leases — — 313 248 Finance leases — — 6 —
Summary of Information Relating To Lease Term And Discount Rate [Table Text Block]	Weighted average remaining lease term (in months) As of December 31, 2024 As of December 31, 2023 Operating leases 38.4 44.7 Finance leases 53.2 5.2 Weighted average discount rate Operating leases 10.39 % 9.58 % Finance leases 10.50 % 7.50 %
Operating and Finance Lease Liability Maturity [Table Text Block]	(in thousands) Operating Leases Finance Leases 2025 $ 46 $ 1 2026 175 2 2027 187 2 2028 118 2 2029 52 1 Thereafter — — Total lease payments $ 578 $ 8 Less: Imputed interest (86 ) (2 ) Total $ 492 $ 6

Note 1 - Background and Basis_3

Note 1 - Background and Basis of Presentation (Details Textual)	9 Months Ended
	Dec. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)
Number of Reportable Segments	1
Contract with Customer, Liability, Current	$ 127,000	$ 191,000	$ 212,000	$ 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		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenues, Type	$ 4,003	$ 2,622	$ 8,939	$ 6,869
Amazon [Member]
Revenues, Type	1,714	509	3,406	1,458
Walmart [Member]
Revenues, Type	1,013	1,692	2,945	3,951
Big Lots [Member]
Revenues, Type	957	0	957	0
Fred Meyer [Member]
Revenues, Type	0	0	0	718
Three Largest Customers [Member]
Revenues, Type	3,684	2,201	7,308	6,127
Product [Member]
Revenues, Type	3,892	2,599	8,691	6,745
License [Member]
Revenues, Type	$ 111	$ 23	$ 248	$ 124

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						9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net (loss) income	$ (527)	$ (881)	$ (962)	$ (421)	$ 2,635	$ (565)	$ (2,370)	$ 1,649
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)	$ (0.03)			$ (0.02)			$ (0.11)	$ 0.08

Note 3 - Shareholders' Equity (

Note 3 - Shareholders' Equity (Details Textual) shares in Thousands	Dec. 31, 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	Dec. 31, 2024	Mar. 31, 2024
Finished goods	$ 5,157	$ 6,953

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Mar. 31, 2024
Deferred Tax Assets, Valuation Allowance	$ 4,975,000		$ 4,975,000
Income (Loss) from Continuing Operations before Income Taxes, Foreign	218,000	$ 293,000	738,000	$ 892,000
Income Tax Expense (Benefit)	0	$ (14,000)	3,000	$ 74,000
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability	668,000		668,000		$ 1,202,000
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Current	668,000		668,000		534,000
Tax Cuts and Jobs Act, Transition Tax for Accumulated Foreign Earnings, Liability, Noncurrent	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%
Domestic Tax Jurisdiction [Member]
Operating Loss Carryforwards	17.4		$ 17.4
Open Tax Year			2017 2018 2019 2020 2021 2022 2023 2024
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 17.9		$ 17.9
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		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 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	$ 26,000	$ 40,000	$ 101,000	$ 119,000
Accounts Payable	1,000	$ 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 ($)	Dec. 31, 2024	Mar. 31, 2024
Short-Term Investments	$ 15,756,000	$ 0
Cash Equivalents [Member]
Certificates of Deposit, at Carrying Value	$ 50,000	$ 19,100,000

Note 8 - Concentration Risk (De

Note 8 - Concentration Risk (Details Textual) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023	Dec. 31, 2024 USD ($)	Dec. 31, 2023	Mar. 31, 2024 USD ($)
Cash, Uninsured Amount	$ 0.4		$ 0.4		$ 19.6
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Customers	3	2	3	3
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Microwave Ovens [Member]
Concentration Risk, Percentage	53%	22%	49%	28%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Audio Products [Member]
Concentration Risk, Percentage	46%	76%	49%	70%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Largest Customers [Member]
Concentration Risk, Percentage	92%		82%	89%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Amazon [Member]
Concentration Risk, Percentage	43%	19%	38%	21%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Walmart [Member]
Concentration Risk, Percentage	25%	65%	33%	58%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Big Lots [Member]
Concentration Risk, Percentage	24%		11%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Largest Customers [Member]
Concentration Risk, Percentage		84%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Fred Meyer [Member]
Concentration Risk, Percentage				10%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Customers			3	3
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member]
Concentration Risk, Percentage			52%	34%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member]
Concentration Risk, Percentage			27%	30%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Three [Member]
Concentration Risk, Percentage			10%	25%
Supplier Concentration Risk [Member] | Products for Resale [Member]
Number of Customers		3	5	4
Number of Factory Suppliers	4
Supplier Concentration Risk [Member] | Products for Resale [Member] | Four Largest Factory Suppliers [Member]
Concentration Risk, Percentage	94%			93%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier One [Member]
Concentration Risk, Percentage	46%	37%	41%	29%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Two [Member]
Concentration Risk, Percentage	22%	28%	19%	26%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Three [Member]
Concentration Risk, Percentage	15%	21%	12%	23%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Four [Member]
Concentration Risk, Percentage	11%		11%	15%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Three Largest Factory Suppliers [Member]
Concentration Risk, Percentage		86%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Five Largest Factory Suppliers [Member]
Concentration Risk, Percentage			94%
Supplier Concentration Risk [Member] | Products for Resale [Member] | Supplier Five [Member]
Concentration Risk, Percentage			11%

Note 9 - Leases (Details Textua

Note 9 - Leases (Details Textual) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Operating Lease, Liability, Current	$ 132,000	$ 93,000
Finance Lease, Liability, Current	1,000	0
Operating Lease, Liability, Noncurrent	360,000	198,000
Finance Lease, Liability, Noncurrent	5,000	0
Operating Lease, Right-of-Use Asset	476,000	282,000
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	6,000	$ 0
Vigers Appraisal And Consulting Ltd [Member]
Operating Lease, Liability, Current	97,000
Operating Lease, Liability, Noncurrent	186,000
Operating Lease, Right-of-Use Asset	$ 283,000
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Month)	32 months
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Month)	54 months

Note 9 - Leases - Summary of Co

Note 9 - Leases - Summary of Components of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Lease cost
Operating lease cost	$ 45	$ 52	$ 145	$ 141
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	46	43	141	123
Right-of-use assets obtained in exchange for lease obligations:
Right-of-use assets obtained in exchange for new operating lease liabilities	0	0	313	248
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 0	$ 0	$ 6	$ 0

Note 9 - Leases - Summary of In

Note 9 - Leases - Summary of Information Relating to Lease Term and Discount Rate (Details)	Dec. 31, 2024	Dec. 31, 2023
Operating leases (Month)	38 months 12 days	44 months 21 days
Finance leases (Month)	53 months 6 days	5 months 6 days
Operating leases	10.39%	9.58%
Finance leases	10.50%	7.50%

Note 9 - Leases - Summary of Ma

Note 9 - Leases - Summary of Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2024 USD ($)
2025, operating lease	$ 46
2025, finance lease	1
2026, operating lease	175
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	1
Thereafter, operating lease	0
Thereafter, finance lease	0
Operating Leases, Total lease payments	578
Finance Leases, Total lease payments	8
Operating Leases, Less: Imputed interest	(86)
Finance Leases, Less: Imputed interest	(2)
Operating Leases, Total	492
Finance Leases, Total	$ 6

Note 10 - Legal Proceedings (De

Note 10 - Legal Proceedings (Details Textual) - USD ($) $ in Millions		3 Months Ended	9 Months Ended	18 Months Ended
	Oct. 10, 2023	Sep. 30, 2023	Dec. 31, 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)