Cyanotech (CYAN) 10-Q 8 Feb 24 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Dec. 31, 2023	Feb. 02, 2024
Document Information [Line Items]
Entity Central Index Key	0000768408
Entity Registrant Name	Cyanotech Corp
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	0-14602
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	91-1206026
Entity Address, Address Line One	73-4460 Queen Kaahumanu Hwy. #102
Entity Address, City or Town	Kailua-Kona
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96740
City Area Code	808
Local Phone Number	326-1353
Title of 12(b) Security	Common Stock, $0.02 par value per share
Trading Symbol	CYAN
Security Exchange Name	NASDAQ
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		6,886,600

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Current assets:
Cash	$ 661,000	$ 974,000
Accounts receivable, net of allowance for credit losses of $11 as of December 31, 2023 and $64 as of March 31, 2023	2,036,000	1,331,000
Inventories	9,124,000	10,707,000
Prepaid expenses and other current assets	464,000	484,000
Total current assets	12,285,000	13,496,000
Equipment and leasehold improvements, net	10,434,000	11,366,000
Operating lease right-of-use assets, net	4,409,000	4,776,000
Other assets	126,000	90,000
Total assets	27,254,000	29,728,000
Current liabilities:
Accounts payable	1,389,000	1,021,000
Accrued expenses	753,000	1,101,000
Customer deposits	70,000	89,000
Operating lease obligations, current portion	517,000	483,000
Short term debt - bank	1,360,000	0
Line of credit – bank	0	1,540,000
Line of credit – related party	1,250,000	500,000
Current maturities of long-term debt	3,199,000	3,369,000
Total current liabilities	8,538,000	8,103,000
Long-term debt, less current maturities	1,000,000	1,000,000
Long-term operating lease obligations	3,883,000	4,275,000
Other long-term liabilities	0	3,000
Total liabilities	13,421,000	13,381,000
Commitments and contingencies
Stockholders’ equity:
Preferred stock of $0.01 par value, authorized 10,000,000 shares; no shares issued and outstanding	0	0
Common stock of $0.02 par value, authorized 50,000,000 shares; issued and outstanding 6,886,600 shares at December 31, 2023 and 6,271,971 shares at March 31, 2023	138,000	125,000
Additional paid-in capital	34,515,000	33,856,000
Accumulated deficit	(20,820,000)	(17,634,000)
Total stockholders’ equity	13,833,000	16,347,000
Total liabilities and stockholders’ equity	$ 27,254,000	$ 29,728,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Accounts receivable, allowance for doubtful accounts	$ 11	$ 64
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred, authorized shares (in shares)	10,000,000	10,000,000
Preferred, issued shares (in shares)	0	0
Preferred outstanding, shares (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.02	$ 0.02
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	6,886,600	6,271,971
Common stock, shares outstanding (in shares)	6,886,600	6,271,971

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 5,582,000	$ 5,891,000	$ 17,101,000	$ 17,786,000
Cost of sales	3,933,000	4,127,000	11,831,000	11,914,000
Gross profit	1,649,000	1,764,000	5,270,000	5,872,000
Operating expenses:
General and administrative	947,000	1,021,000	3,381,000	3,631,000
Sales and marketing	1,387,000	1,041,000	4,048,000	3,351,000
Research and development	163,000	106,000	530,000	556,000
Total operating expenses	2,497,000	2,168,000	7,959,000	7,538,000
Loss from operations	(848,000)	(404,000)	(2,689,000)	(1,666,000)
Interest expense, net	(172,000)	(186,000)	(495,000)	(333,000)
Loss before income taxes	(1,020,000)	(590,000)	(3,184,000)	(1,999,000)
Income tax expense	0	8,000	2,000	11,000
Net loss	$ (1,020,000)	$ (598,000)	$ (3,186,000)	$ (2,010,000)
Net loss per share:
Basic (in dollars per share)	$ (0.16)	$ (0.1)	$ (0.5)	$ (0.32)
Diluted (in dollars per share)	$ (0.16)	$ (0.1)	$ (0.5)	$ (0.32)
Shares used in calculation of net loss per share:
Basic (in shares)	6,554	6,272	6,404	6,235
Diluted (in shares)	6,554	6,272	6,404	6,235

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Mar. 31, 2022	6,202,223
Balance at Mar. 31, 2022	$ 124	$ 33,557	$ (14,194)	$ 19,487
Share-based compensation expense	0	108	0	108
Net income (loss)	0	0	(2,010)	(2,010)
Net loss	$ 0	0	(2,010)	(2,010)
Issuances of common stock to Directors Stock Grants (in shares)	64,489
Issuances of common stock to Directors Stock Grants	$ 1	157	0	158
Issuances of vested shares of restricted stock (in shares)	8,312
Issuances of vested shares of restricted stock	$ 0	(10)	0	(10)
Shares withheld for tax payments (in shares)	(3,053)
Shares withheld for tax payments	$ 0	0	0	0
Shares withheld for tax payments	$ 0	0	0	0
Balance (in shares) at Dec. 31, 2022	6,271,971
Balance at Dec. 31, 2022	$ 125	33,812	(16,204)	17,733
Balance (in shares) at Sep. 30, 2022	6,271,971
Balance at Sep. 30, 2022	$ 125	33,767	(15,606)	18,286
Share-based compensation expense	0	45	0	45
Net income (loss)	0	0	(598)	(598)
Net loss	$ 0	0	(598)	(598)
Balance (in shares) at Dec. 31, 2022	6,271,971
Balance at Dec. 31, 2022	$ 125	33,812	(16,204)	17,733
Balance (in shares) at Mar. 31, 2023	6,271,971
Balance at Mar. 31, 2023	$ 125	33,856	(17,634)	16,347
Proceeds from the sale of common stock, net of expenses (in shares)	400,000
Proceeds from the sale of common stock, net of expenses	$ 8	384		392
Issuances of common stock to Directors in lieu of cash for current year board fees (in shares)	12,821
Issuances of common stock to Directors in lieu of cash for current year board fees	$ 1	10	0	11
Share-based compensation expense	0	139	0	139
Net income (loss)	0	0	(3,186)	(3,186)
Net loss	$ 0	0	(3,186)	(3,186)
Issuances of common stock to Directors Stock Grants (in shares)	159,493
Issuances of common stock to Directors Stock Grants	$ 3	123	0	126
Issuances of common stock to Directors in lieu of cash for prior year board fees (in shares)	17,672
Issuances of common stock to Directors in lieu of cash for prior year board fees	$ 0	15	0	15
Issuances of vested shares of restricted stock (in shares)	37,996
Issuances of vested shares of restricted stock	$ 1	(12)	0	(11)
Shares withheld for tax payments (in shares)	(13,353)
Shares withheld for tax payments	$ 0	0	0	0
Shares withheld for tax payments	$ 0	0	0	0
Balance (in shares) at Dec. 31, 2023	6,886,600
Balance at Dec. 31, 2023	$ 138	34,515	(20,820)	13,833
Balance (in shares) at Sep. 30, 2023	6,473,779
Balance at Sep. 30, 2023	$ 129	34,078	(19,800)	14,407
Proceeds from the sale of common stock, net of expenses (in shares)	400,000
Proceeds from the sale of common stock, net of expenses	$ 8	384	0	392
Issuances of common stock to Directors in lieu of cash for current year board fees (in shares)	12,821
Issuances of common stock to Directors in lieu of cash for current year board fees	$ 1	10	0	11
Share-based compensation expense	0	43	0	43
Net income (loss)	0	0	(1,020)	(1,020)
Net loss	$ 0	0	(1,020)	(1,020)
Balance (in shares) at Dec. 31, 2023	6,886,600
Balance at Dec. 31, 2023	$ 138	$ 34,515	$ (20,820)	$ 13,833

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (3,186,000)	$ (2,010,000)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,206,000	1,243,000
Amortization of debt issue costs and other assets	(19,000)	33,000
Amortization of operating leases right-of-use assets	366,000	324,000
Share-based compensation expense	276,000	266,000
Provision for doubtful accounts	11,000	35,000
Net (increase) decrease in assets:
Accounts receivable	(716,000)	1,473,000
Inventories	1,583,000	(2,108,000)
Prepaid expenses and other assets	12,000	267,000
Net increase (decrease) in liabilities:
Accounts payable	417,000	(1,368,000)
Accrued expenses	(333,000)	(424,000)
Customer deposits	(19,000)	(67,000)
Operating lease obligations	(357,000)	(333,000)
Other liabilities	(3,000)	(14,000)
Net cash used in operating activities	(762,000)	(2,683,000)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in equipment and leasehold improvements	(323,000)	(1,018,000)
Net cash used in investing activities	(323,000)	(1,018,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net (payments) draws on short term debt and line of credit – bank	(180,000)	1,550,000
Net draws on line of credit – related party	750,000	500,000
Principal payments on long-term debt – bank	(179,000)	(415,000)
Proceeds from the issuance of common stock, net of expenses	392,000	0
Taxes paid related to net share settlement of restricted stock units	(11,000)	(10,000)
Net cash provided by financing activities	772,000	1,625,000
Net decrease in cash	(313,000)	(2,076,000)
Cash at beginning of period	974,000	2,589,000
Cash at end of period	661,000	513,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	420,000	242,000
Income taxes	$ 6,000	$ 27,000

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. ORGANIZATION AND BASIS OF PRESENTATION Cyanotech Corporation (the “Company”), located in Kailua-Kona, Hawaii, was incorporated in the state of Nevada on March 3, 1983, The Company is an agricultural company that produces high value natural products derived from microalgae grown in complex and intricate open-pond agricultural systems on the Kona coast of Hawaii. The Company's products include Hawaiian Spirulina Pacifica BioAstin Hawaiian Astaxanthin The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information pursuant to the instructions to Form 10 X Accordingly, they do not not March 31, 2023 March 31, 2023, 10 June 27, 2023. Liquidity and Going Concern The accompanying condensed consolidated financial statements as of and for the three nine December 31, 2023 2022, March 31, 2023, not March 31, 2023 not may As of December 31, 2023, March 31, 2023. March 31, 2023, October 13, 2023, August 30, 2024. December 31, 2023, March 31, 2023, 5 The Company also has a loan facility with a related party that allows the Company to borrow up to $2,000,000 on a revolving basis (the “Revolver”). At December 31, 2023 March 31, 2023, April 12, 2025 ( 5 13 As of December 31, 2023, August 2032. March 31, 2023, June 22, 2023, March 31, 2023, On December 15, 2023, 10 In April 2019, April 12, 2021, December 14, 2022, August 14, 2023, 5 13 December 31, 2023 March 31, 2023, April 12, 2025. The Company continues to experience a loss from operations as the impacts from the macroeconomic environment led to lower sales across the Company's portfolio on a year-to-date basis. Industry data shows that consumers intake of dietary supplements is not may second 2023, 2023, third 2024. Funds generated by operating activities and available cash are the Company’s most significant sources of liquidity for working capital requirements, debt service and funding of maintenance levels of capital expenditures. The Company has developed its operating plan to produce the cash flows necessary to meet all financing requirements. Although the Company has a history of either being in compliance with debt covenants, or obtaining the necessary waivers, execution of its operating plan is dependent on many factors, some of which are not no December 31, 2024.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES Consolidation The accompanying condensed consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary. Actual results could differ from those estimates and assumptions. Cash Cash primarily consists of cash on hand and cash in bank deposits. Concentration Risk A significant portion of revenues and accounts receivables are derived from a few major customers. For the three December 31, 2023, two three December 31, 2022, one nine December 31, 2023, two nine December 31, 2022, two December 31, 2023 March 31, 2023, Accounts Receivable Accounts receivable balances are recorded at the invoiced amount and do not not not 90 not Revenue Recognition The Company records revenue based on the five 1 2 3 4 5 may not Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling a performance obligation. The Company has elected to exclude sales, use and similar taxes from the measurement of the transaction price. The amount of consideration expected to be received and revenue recognized includes estimates of variable consideration, which includes costs for trade promotion programs, coupons, returns and early payment discounts. Such estimates are calculated using historical averages adjusted for any expected changes due to current business conditions and experience. The Company reviews and updates these estimates at the end of each reporting period and the impact of any adjustments are recognized in the period the adjustments are identified. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intent to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 one Customer contract liabilities consist of customer deposits received in advance of fulfilling an order and are shown separately on the consolidated balance sheets. During the three December 31, 2023 2022, March 31, 2023 2022, nine December 31, 2023 2022, March 31, 2023 2022, one not Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the: ($ in thousands) Three Months December 31, 2023 Three Months December 31, 2022 Packaged sales Astaxanthin packaged $ 3,691 $ 3,113 Spirulina packaged 1,277 1,147 Total packaged sales 4,968 4,260 Bulk sales Astaxanthin bulk 261 378 Spirulina bulk 312 967 Total bulk sales 573 1,345 Contract extraction and R&D services revenue 41 286 Total net sales $ 5,582 $ 5,891 ($ in thousands) Nine Months December 31, 2023 Nine Months December 31, 2022 Packaged sales Astaxanthin packaged $ 10,195 $ 9,492 Spirulina packaged 4,447 3,719 Total packaged sales 14,642 13,211 Bulk sales Astaxanthin bulk 1,168 1,204 Spirulina bulk 1,033 2,844 Total bulk sales 2,201 4,048 Contract extraction and R&D services revenue 258 527 Total net sales $ 17,101 $ 17,786 Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses 326” November 2018 2018 19, Codification Improvements to Topic 326, Credit Losses December 15, 2022. April 1, 2023, not In December 2023, 2023 09, Income Taxes (Topic 740 2023 09” eight 12 2023 09 December 15, 2024, 2023 09

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. INVENTORIES Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first first December 31, 2023 March 31, 2023 (in thousands) Raw materials $ 1,369 $ 1,887 Work in process 2,508 2,049 Finished goods 4,977 6,502 Supplies 270 269 Inventories $ 9,124 $ 10,707 The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, fixed production overhead costs, idle facilities, freight handling costs and spoilage, as an expense in the period incurred, without adjusting overhead absorption rates. Normal production capacity is defined as the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. The Company had abnormal production cost recovery of $73,000 and costs of $64,000 to cost of sales for the three December 31, 2023 2022, nine December 31, 2023 2022, Beginning in fiscal year 2021 2023, first six 2024, not Other non-inventoriable fixed costs of $71,000 and $72,000 were expensed to cost of sales for the three December 31, 2023 2022, nine December 31, 2023 2022,

Note 4 - Equipment and Leasehol

Note 4 - Equipment and Leasehold Improvements	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. EQUIPMENT AND LEASEHOLD IMPROVEMENTS Equipment and leasehold improvements consist of the following as of: December 31, 2023 March 31, 2023 (in thousands) Equipment $ 21,864 $ 21,649 Leasehold improvements 15,071 15,038 Furniture and fixtures 419 407 37,354 37,094 Less accumulated depreciation and amortization (27,127 ) (25,947 ) Construction-in-progress 207 219 Equipment and leasehold improvements, net $ 10,434 $ 11,366 Management has determined that no asset impairment existed as of December 31, 2023. three December 31, 2023 2022, nine December 31, 2023 2022,

Note 5 - Line of Credit and Lon

Note 5 - Line of Credit and Long-term Debt	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	5. LINE OF CREDIT AND LONG-TERM DEBT Total debt consists of the following as of: December 31, 2023 March 31, 2023 (in thousands) Line of credit - bank $ — $ 1,540 Short-term debt - bank 1,360 — Line of credit – related party 1,250 500 Long-term debt 3,282 3,461 Long-term debt - related party 1,000 1,000 Unamortized debt issuance costs (83 ) (92 ) Less current maturities (5,809 ) (5,409 ) Total long-term debt, net of current maturities $ 1,000 $ 1,000 Line of Credit and Term Loans On August 30, 2016, June 3, 2016, March 31, 2023) no On October 13, 2023, “2023 no August 30, 2024. 2023 no December 31, 2023, 2023 March 31, 2023, 2023 The Credit Agreement grants the Bank the following security interests in the Company’s property: (a) a lien on the Company’s leasehold interest in its Kona facility; (b) an assignment of the Company’s interest in leases and rents on its Kona facility; and (c) a security interest in all fixtures, furnishings and equipment related to or used by the Company at the Kona facility. Each security interest is further subject to the terms of the Credit Agreement. In 2012, “2012 August 14, 2012 “2012 2012 2012 The provisions of the 2012 first August 14, 2032, nineteen 19 2012 December 31, 2023 March 31, 2023, first no 2012 December 31, 2023 March 31, 2023, The 2012 one December 31 December 31, 2012. 2012 December 31, 2023 March 31, 2023, Loan Covenants, Violation and Waiver The Company’s Credit Agreement and the 2012 March 31, 2023, not two June 22, 2023, March 31, 2023, June 21, 2023. March 31, 2024. Line of Credit and Debt Related Party In April 2019, April 2021. April 2021, April 2024, 13 December 2022, April 2025 August 14, 2023, At both December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, first no Future principal payments under the loans at December 31, 2023 Fiscal year payments due (in thousands) Remainder of 2024 $ 3,282 2026 1,000 Total principal payments $ 4,282

Note 6 - Operating Leases

Note 6 - Operating Leases	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	6. OPERATING LEASES The Company leases facilities, equipment and land under non-cancelable operating leases expiring through 2037. five April 1, 2019 two two December 31, 2023, 7.3%, nine December 31, 2023 2022, $517,000, Supplemental balance sheet information related to leases consist of the following as of: Operating leases Balance Sheet Classification December 31, 2023 March 31, 2023 (in thousands) Right-of-use assets Operating lease right-of-use assets $ 6,149 $ 6,149 Accumulated lease amortization Operating lease right-of-use assets (1,740 ) (1,373 ) Total right-of-use assets $ 4,409 $ 4,776 Current lease liabilities Operating lease obligations $ 517 $ 483 Non-current lease liabilities Long-term operating lease obligations 3,883 4,275 Total lease liabilities $ 4,400 $ 4,758 Maturities of lease liabilities at December 31, 2023 Payments (in thousands) Remainder of 2024 $ 204 2025 805 2026 795 2027 775 2028 429 Thereafter 3,054 Total undiscounted lease payments 6,062 Less: present value discount (1,662 ) Total lease liability balance $ 4,400

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. ACCRUED EXPENSES Accrued expenses consist of the following as of: December 31, 2023 March 31, 2023 (in thousands) Bonus and profit sharing $ 100 $ 143 Wages 112 215 Vacation 354 393 Interest and legal 29 30 Other accrued expenses 158 320 Total accrued expenses $ 753 $ 1,101

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. COMMITMENTS AND CONTINGENCIES From time to time, the Company may no December 31, 2023.

Note 9 - Share-based Compensati

Note 9 - Share-based Compensation	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	9. SHARE-BASED COMPENSATION The Company has share-based compensation plans, which are more fully described in Note 9, 10 March 31, 2023 June 27, 2023. As of December 31, 2023, two 2016 “2016 2014 “2014 The following table presents shares authorized, available for future grant and outstanding under each of the Company’s plans: As of December 31, 2023 Authorized Available Outstanding 2016 Plan 1,300,000 805,359 343,416 2014 Directors Plan 650,000 33,220 12,000 Total 1,950,000 838,579 355,416 Stock Options All stock option grants made under the equity-based compensation plans were issued at exercise prices no 2016 2014 No ten 10 three December 31, 2023 2022, nine December 31, 2023 2022, A summary of option activity under the Company’s stock plans for the nine December 31, 2023 Option Activity Shares Weighted Price Weighted Average Aggregate Outstanding at March 31, 2023 253,000 $ 2.88 7.5 $ — Granted 50,000 $ 0.79 Expired (6,000 ) $ 5.56 Outstanding at December 31, 2023 297,000 $ 2.47 7.4 $ 4,995 Exercisable at December 31, 2023 172,000 $ 2.76 6.6 $ — The aggregate intrinsic value in the table above is before applicable income taxes and represents the excess amount over the exercise price optionees would have received if all options had been exercised on the last business day of the period indicated, based on the Company’s closing stock price of $0.89 and $0.88 at December 31, 2023 March 31, 2023, A summary of the Company’s non-vested options for the nine December 31, 2023 Nonvested Options Shares Weighted Nonvested at March 31, 2023 141,667 $ 1.55 Granted 50,000 0.48 Vested (66,667 ) 1.49 Nonvested at December 31, 2023 125,000 $ 1.16 The weighted average grant-date fair value of stock options granted during the nine December 31, 2023 December 31, 2023, Restricted Stock Grants of fully vested restricted stock issued to Non-Employee Directors during the nine December 31, 2023 2022 2014 nine December 31, 2023 2022, To reduce the Company’s ongoing cash expenses, the Nominating and Corporate Governance Committee of the Board of Directors adopted a resolution allowing each director to elect to receive his or her quarterly director fees in the form of restricted stock in lieu of cash. Two Board members elected to receive shares of restricted stock in lieu of cash for the third 2023 one second 2024. April 3, 2023, two 2023 October 13, 2023, nine December 31, 2023 Restricted Stock Units ( RSUs ) RSUs are service-based awards granted to eligible employees under the 2016 2016 three December 31, 2023 2022. 2016 nine December 31, 2023 2022, The following table summarizes information related to awarded RSUs: Nonvested Restricted Stock Units Shares Weighted Nonvested restricted stock units at March 31, 2023 70,334 $ 3.04 Granted 28,018 0.83 Vested (37,996 ) 2.35 Forfeited (1,940 ) 1.99 Nonvested restricted stock units at December 31, 2023 58,416 $ 2.48 As of December 31, 2023,

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Equity [Text Block]	10. STOCKHOLDERS EQUITY On December 15, 2023, 1933, 4 2 one December 15, 2023. The Shares are restricted securities under applicable federal securities laws and are subject to certain piggyback registration rights as provided for in the Subscription Agreement.

Note 11 - Income Taxes

Note 11 - Income Taxes	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. INCOME TAXES The Company utilizes its estimated annual effective tax rate to determine its provision or benefit for income taxes for interim periods. The income tax provision or benefit is computed by multiplying the estimated annual effective tax rate by the year-to-date pre-tax book income (loss). The Company recorded $0 and $8,000 of income tax expense for the three December 31, 2023 2022, three December 31, 2022. nine December 31, 2023 2022, nine December 31, 2023 2022, not not The Company is subject to taxation in the United States and eight may may As of December 31, 2023 2022, With few exceptions, the Company is no 2019.

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	12. EARNINGS PER SHARE Basic earnings (loss) per share is computed on the basis of the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed on the basis of the weighted average number of common shares outstanding plus the potentially dilutive effect of outstanding stock options using the treasury stock method. Reconciliations between the numerator and the denominator of the basic and diluted (loss) income per share computations for the three nine December 31, 2023 2022 Three Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (1,020 ) 6,554 $ (0.16 ) Three Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (598 ) 6,272 $ (0.10 ) Nine Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (3,186 ) 6,404 $ (0.50 ) Nine Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (2,010 ) 6,235 $ (0.32 ) Basic and diluted per share amounts are the same in periods of a net loss because common share equivalents are anti-dilutive when a net loss is recorded. Diluted earnings per share does not three December 31, 2023 2022, nine December 31, 2023 2022,

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	13. RELATED PARTY TRANSACTIONS In April 2019, April 12, 2021. On April 12, 2021, may not three April 12, 2021, no may On April 12, 2021, two On December 14, 2022, April 12, 2025 may On August 14, 2023, may $1,000,000 At both December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, See Note 10

Note 14 - Subsequent Events

Note 14 - Subsequent Events	9 Months Ended
	Dec. 31, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	14. SUBSEQUENT EVENTS The Company had no

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. Other Information As disclosed previously, on August 10, 2023, 30 $1.00 5550 2 5810 3 180 February 6, 2024 ( On February 7, 2024, not February 20, 2024, 25 The Company expects that its common stock will be eligible to be traded over-the-counter. However, no
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation The accompanying condensed consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary. Actual results could differ from those estimates and assumptions.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Cash primarily consists of cash on hand and cash in bank deposits.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Risk A significant portion of revenues and accounts receivables are derived from a few major customers. For the three December 31, 2023, two three December 31, 2022, one nine December 31, 2023, two nine December 31, 2022, two December 31, 2023 March 31, 2023,
Accounts Receivable [Policy Text Block]	Accounts Receivable Accounts receivable balances are recorded at the invoiced amount and do not not not 90 not
Revenue [Policy Text Block]	Revenue Recognition The Company records revenue based on the five 1 2 3 4 5 may not Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling a performance obligation. The Company has elected to exclude sales, use and similar taxes from the measurement of the transaction price. The amount of consideration expected to be received and revenue recognized includes estimates of variable consideration, which includes costs for trade promotion programs, coupons, returns and early payment discounts. Such estimates are calculated using historical averages adjusted for any expected changes due to current business conditions and experience. The Company reviews and updates these estimates at the end of each reporting period and the impact of any adjustments are recognized in the period the adjustments are identified. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intent to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 one Customer contract liabilities consist of customer deposits received in advance of fulfilling an order and are shown separately on the consolidated balance sheets. During the three December 31, 2023 2022, March 31, 2023 2022, nine December 31, 2023 2022, March 31, 2023 2022, one not Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the: ($ in thousands) Three Months December 31, 2023 Three Months December 31, 2022 Packaged sales Astaxanthin packaged $ 3,691 $ 3,113 Spirulina packaged 1,277 1,147 Total packaged sales 4,968 4,260 Bulk sales Astaxanthin bulk 261 378 Spirulina bulk 312 967 Total bulk sales 573 1,345 Contract extraction and R&D services revenue 41 286 Total net sales $ 5,582 $ 5,891 ($ in thousands) Nine Months December 31, 2023 Nine Months December 31, 2022 Packaged sales Astaxanthin packaged $ 10,195 $ 9,492 Spirulina packaged 4,447 3,719 Total packaged sales 14,642 13,211 Bulk sales Astaxanthin bulk 1,168 1,204 Spirulina bulk 1,033 2,844 Total bulk sales 2,201 4,048 Contract extraction and R&D services revenue 258 527 Total net sales $ 17,101 $ 17,786
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses 326” November 2018 2018 19, Codification Improvements to Topic 326, Credit Losses December 15, 2022. April 1, 2023, not In December 2023, 2023 09, Income Taxes (Topic 740 2023 09” eight 12 2023 09 December 15, 2024, 2023 09

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	($ in thousands) Three Months December 31, 2023 Three Months December 31, 2022 Packaged sales Astaxanthin packaged $ 3,691 $ 3,113 Spirulina packaged 1,277 1,147 Total packaged sales 4,968 4,260 Bulk sales Astaxanthin bulk 261 378 Spirulina bulk 312 967 Total bulk sales 573 1,345 Contract extraction and R&D services revenue 41 286 Total net sales $ 5,582 $ 5,891 ($ in thousands) Nine Months December 31, 2023 Nine Months December 31, 2022 Packaged sales Astaxanthin packaged $ 10,195 $ 9,492 Spirulina packaged 4,447 3,719 Total packaged sales 14,642 13,211 Bulk sales Astaxanthin bulk 1,168 1,204 Spirulina bulk 1,033 2,844 Total bulk sales 2,201 4,048 Contract extraction and R&D services revenue 258 527 Total net sales $ 17,101 $ 17,786

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2023 March 31, 2023 (in thousands) Raw materials $ 1,369 $ 1,887 Work in process 2,508 2,049 Finished goods 4,977 6,502 Supplies 270 269 Inventories $ 9,124 $ 10,707

Note 4 - Equipment and Leaseh_2

Note 4 - Equipment and Leasehold Improvements (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2023 March 31, 2023 (in thousands) Equipment $ 21,864 $ 21,649 Leasehold improvements 15,071 15,038 Furniture and fixtures 419 407 37,354 37,094 Less accumulated depreciation and amortization (27,127 ) (25,947 ) Construction-in-progress 207 219 Equipment and leasehold improvements, net $ 10,434 $ 11,366

Note 5 - Line of Credit and L_2

Note 5 - Line of Credit and Long-term Debt (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	December 31, 2023 March 31, 2023 (in thousands) Line of credit - bank $ — $ 1,540 Short-term debt - bank 1,360 — Line of credit – related party 1,250 500 Long-term debt 3,282 3,461 Long-term debt - related party 1,000 1,000 Unamortized debt issuance costs (83 ) (92 ) Less current maturities (5,809 ) (5,409 ) Total long-term debt, net of current maturities $ 1,000 $ 1,000
Schedule of Maturities of Long-Term Debt [Table Text Block]	Fiscal year payments due (in thousands) Remainder of 2024 $ 3,282 2026 1,000 Total principal payments $ 4,282

Note 6 - Operating Leases (Tabl

Note 6 - Operating Leases (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Supplement Balance Sheet Information for Operating Lease [Table Text Block]	Operating leases Balance Sheet Classification December 31, 2023 March 31, 2023 (in thousands) Right-of-use assets Operating lease right-of-use assets $ 6,149 $ 6,149 Accumulated lease amortization Operating lease right-of-use assets (1,740 ) (1,373 ) Total right-of-use assets $ 4,409 $ 4,776 Current lease liabilities Operating lease obligations $ 517 $ 483 Non-current lease liabilities Long-term operating lease obligations 3,883 4,275 Total lease liabilities $ 4,400 $ 4,758
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Payments (in thousands) Remainder of 2024 $ 204 2025 805 2026 795 2027 775 2028 429 Thereafter 3,054 Total undiscounted lease payments 6,062 Less: present value discount (1,662 ) Total lease liability balance $ 4,400

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2023 March 31, 2023 (in thousands) Bonus and profit sharing $ 100 $ 143 Wages 112 215 Vacation 354 393 Interest and legal 29 30 Other accrued expenses 158 320 Total accrued expenses $ 753 $ 1,101

Note 9 - Share-based Compensa_2

Note 9 - Share-based Compensation (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Share-based Compensation Shares Authorized Available and Outstanding by Plan [Table Text Block]	As of December 31, 2023 Authorized Available Outstanding 2016 Plan 1,300,000 805,359 343,416 2014 Directors Plan 650,000 33,220 12,000 Total 1,950,000 838,579 355,416
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Option Activity Shares Weighted Price Weighted Average Aggregate Outstanding at March 31, 2023 253,000 $ 2.88 7.5 $ — Granted 50,000 $ 0.79 Expired (6,000 ) $ 5.56 Outstanding at December 31, 2023 297,000 $ 2.47 7.4 $ 4,995 Exercisable at December 31, 2023 172,000 $ 2.76 6.6 $ —
Schedule of Nonvested Share Activity [Table Text Block]	Nonvested Options Shares Weighted Nonvested at March 31, 2023 141,667 $ 1.55 Granted 50,000 0.48 Vested (66,667 ) 1.49 Nonvested at December 31, 2023 125,000 $ 1.16
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nonvested Restricted Stock Units Shares Weighted Nonvested restricted stock units at March 31, 2023 70,334 $ 3.04 Granted 28,018 0.83 Vested (37,996 ) 2.35 Forfeited (1,940 ) 1.99 Nonvested restricted stock units at December 31, 2023 58,416 $ 2.48

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	9 Months Ended
	Dec. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (1,020 ) 6,554 $ (0.16 ) Three Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (598 ) 6,272 $ (0.10 ) Nine Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (3,186 ) 6,404 $ (0.50 ) Nine Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (2,010 ) 6,235 $ (0.32 )

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($)		3 Months Ended	9 Months Ended
	Dec. 15, 2023	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Oct. 13, 2023	Sep. 30, 2023	Aug. 14, 2023	Jun. 22, 2023	Mar. 31, 2023	Apr. 30, 2019	Aug. 30, 2016
Cash and Cash Equivalents, at Carrying Value		$ 661,000	$ 661,000						$ 974,000
Working Capital (Deficit)		3,747,000	3,747,000						5,393,000
Line of Credit, Current		0	0						1,540,000
Lines of Credit, Related Party, Current		1,250,000	1,250,000						500,000
Long-term Debt and Capital Lease Obligations, Current and Noncurrent		3,282,000	3,282,000
Proceeds from Issuance of Common Stock			392,000	$ 0
Proceeds from Lines of Credit, Related Parties			750,000	500,000
Unsecured Subordinated Loan From Skywords [Member]
Debt Instrument, Face Amount		1,000,000	1,000,000						1,000,000	$ 1,500,000
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	400,000
Shares Issued, Price Per Share (in dollars per share)	$ 1
Legal Fees	$ 8,000
Proceeds from Issuance of Common Stock	$ 392,000
First Foundation Bank [Member]
Proceeds from Lines of Credit		1,360,000
First Foundation Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity									2,000,000		$ 2,000,000
Line of Credit, Current		1,360,000	1,360,000		$ 1,480,000			$ 1,770,000	1,540,000
Related Party 1 [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		2,000,000	2,000,000	$ 1,000,000		$ 2,000,000	$ 2,000,000		1,000,000
Lines of Credit, Related Party, Current		1,250,000	$ 1,250,000						$ 500,000
Proceeds from Lines of Credit, Related Parties		$ 1,250,000

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)			3 Months Ended		9 Months Ended
	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Contract with Customer, Liability, Revenue Recognized			$ 6,000	$ 2,000	$ 24,000	$ 94,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers			2	1	2	2
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 1 [Member]
Concentration Risk, Percentage			34%	36%	36%	35%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 2 [Member]
Concentration Risk, Percentage			22%		18%	8%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member]
Concentration Risk, Percentage	82%	46%

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Revenue By Product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net sales	$ 5,582	$ 5,891	$ 17,101	$ 17,786
Packaged Astaxanthin [Member]
Net sales	3,691	3,113	10,195	9,492
Packaged Spirulina [Member]
Net sales	1,277	1,147	4,447	3,719
Packaged Products [Member]
Net sales	4,968	4,260	14,642	13,211
Bulk Astaxanthin [Member]
Net sales	261	378	1,168	1,204
Bulk Spirulina [Member]
Net sales	312	967	1,033	2,844
Bulk Products [Member]
Net sales	573	1,345	2,201	4,048
Contract Extraction and R&D Services [Member]
Net sales	$ 41	$ 286	$ 258	$ 527

Note 3 - Inventories (Details T

Note 3 - Inventories (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Inventory Abnormal Production Costs	$ 73,000	$ 64,000	$ 60,000	$ 90,000
Non Inventoriable Fixed Costs	$ 71,000	$ 72,000	$ 396,000	$ 115,000

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Raw materials	$ 1,369	$ 1,887
Work in process	2,508	2,049
Finished goods	4,977	6,502
Supplies	270	269
Inventories	$ 9,124	$ 10,707

Note 4 - Equipment and Leaseh_3

Note 4 - Equipment and Leasehold Improvements (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Asset Impairment Charges			$ 0
Depreciation, Depletion and Amortization	$ 395,000	$ 409,000	$ 1,206,000	$ 1,243,000

Note 4 - Equipment and Leaseh_4

Note 4 - Equipment and Leasehold Improvements - Components of Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Equipment and leasehold improvements, gross	$ 37,354	$ 37,094
Less accumulated depreciation and amortization	(27,127)	(25,947)
Construction-in-progress	207	219
Equipment and leasehold improvements, net	10,434	11,366
Equipment [Member]
Equipment and leasehold improvements, gross	21,864	21,649
Leasehold Improvements [Member]
Equipment and leasehold improvements, gross	15,071	15,038
Furniture and Fixtures [Member]
Equipment and leasehold improvements, gross	$ 419	$ 407

Note 5 - Line of Credit and L_3

Note 5 - Line of Credit and Long-term Debt (Details Textual) - USD ($)					1 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2023	Oct. 13, 2023	Apr. 12, 2021	Aug. 14, 2012	Apr. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2020	Sep. 30, 2023	Aug. 14, 2023	Jun. 22, 2023	Jun. 21, 2023	Dec. 14, 2022	Apr. 30, 2019	Aug. 30, 2016
Line of Credit, Current	$ 0					$ 0		$ 0	$ 1,540,000
Long-Term Debt	4,282,000					4,282,000		4,282,000
Long-term Debt and Capital Lease Obligations, Current and Noncurrent	3,282,000					3,282,000		3,282,000
Debt Issuance Costs, Current, Net	83,000					83,000		83,000	92,000
Long-term Debt, Current Maturities, Total	5,809,000					5,809,000		5,809,000	5,409,000
Interest Paid, Excluding Capitalized Interest, Operating Activities						420,000	$ 242,000
Lines of Credit, Related Party, Current	1,250,000					1,250,000		1,250,000	500,000
Unsecured Subordinated Loan [Member]
Long-Term Debt, Gross	$ 1,000,000					$ 1,000,000		$ 1,000,000	$ 1,000,000
Term Loan Agreement, Maturing on August 14, 2032 [Member]
Debt Instrument Reference Rate	8.50%					8.50%		8.50%	7.50%
Debt Instrument, Basis Spread on Variable Rate				1%
Proceeds from Issuance of Debt				$ 5,500,000
Debt Instrument Interest Payment Period (Month)				12 months
Debt Instrument Amortization Period (Year)				19 years
Long-term Debt and Capital Lease Obligations, Current and Noncurrent	$ 3,282,000					$ 3,282,000		$ 3,282,000	$ 3,461,000
Debt Instrument One Time Origination and Guaranty Fees									$ 214,500
Debt Instrument Annual Renewal Fee Payable Percentage	0.25%					0.25%		0.25%
Debt Instrument Guaranteed Portion									80%
Debt Covenant, Further Advances of Credit Agreement, Immediate Freeze														$ 1,770,000
Term Loan Agreement, Promissory Note One [Member]
Proceeds from Issuance of Debt				$ 2,250,000
Term Loan Agreement, Promissory Note Two [Member]
Proceeds from Issuance of Debt				$ 3,250,000
Skywords Note [Member]
Debt Instrument Reference Rate	8.50%					8.50%		8.50%	7.50%
Repayments of Long-term Debt, Total			$ 500,000		$ 500,000
Interest Paid, Excluding Capitalized Interest, Operating Activities			$ 1,900		1,900
Skywords Note [Member] | Unsecured Subordinated Loan [Member]
Long-Term Debt	$ 1,000,000					$ 1,000,000		$ 1,000,000	$ 1,000,000
Debt Instrument, Face Amount																$ 1,500,000
Long-term Debt, Current Maturities, Total					$ 500,000
Long-Term Debt, Gross	$ 1,000,000					1,000,000		1,000,000	1,000,000
Skywords Amended Note [Member]
Debt Instrument, Floor Interest Rate			5%		5%
Debt Instrument, Face Amount			$ 500,000												$ 1,000,000
Minimum [Member] | Term Loan Agreement, Maturing on August 14, 2032 [Member]
Debt Instrument, Interest Rate During Period				5.50%
Prime Rate [Member] | Skywords Note [Member]
Debt Instrument, Basis Spread on Variable Rate					1%
Prime Rate [Member] | Skywords Note [Member] | Unsecured Subordinated Loan [Member]
Debt Instrument, Basis Spread on Variable Rate										1%
Prime Rate [Member] | Skywords Amended Note [Member]
Debt Instrument, Basis Spread on Variable Rate			1%
Prime Rate [Member] | Minimum [Member] | Skywords Note [Member]
Debt Instrument, Interest Rate During Period					5%
First Foundation Bank [Member] | Term Loan Converted From Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate	2%
Debt Instrument, Periodic Payment		$ 40,000
Debt Instrument, Floor Interest Rate		7%
Long-Term Debt	$ 1,360,000					$ 1,360,000		$ 1,360,000
Debt Instrument, Interest Rate During Period	8.50%
First Foundation Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.25%					5.25%		5.25%
First Foundation Bank [Member] | Prime Rate [Member] | Term Loan Converted From Line of Credit [Member]
Debt Instrument, Basis Spread on Variable Rate		2%
First Foundation Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity									2,000,000								$ 2,000,000
Line of Credit, Current	$ 1,360,000	$ 1,480,000				$ 1,360,000		$ 1,360,000	1,540,000				$ 1,770,000
Long-Term Line of Credit									$ 1,540,000
First Foundation Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument Reference Rate									8%
Debt Instrument, Basis Spread on Variable Rate								2%
Related Party 1 [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,000,000					$ 2,000,000	$ 1,000,000	$ 2,000,000	$ 1,000,000		$ 2,000,000	$ 2,000,000
Debt Instrument, Interest Rate, Stated Percentage	9.50%					9.50%		9.50%	8.50%
Lines of Credit, Related Party, Current	$ 1,250,000					$ 1,250,000		$ 1,250,000	$ 500,000

Note 5 - Line of Credit and L_4

Note 5 - Line of Credit and Long-term Debt - Summary of Line of Credit and Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Short term debt - bank	$ 1,360	$ 0
Unamortized debt issuance costs	(83)	(92)
Less current maturities	(5,809)	(5,409)
Total long-term debt, net of current maturities	1,000	1,000
Line of Credit Excluding Related Party [Member]
Long-term debt	0	1,540
Long-term debt	0	1,540
Line of Credit, Related Party [Member]
Long-term debt	1,250	500
Long-term debt	1,250	500
Long-term Debt, Excluding Related Party Debt [Member]
Long-term debt	3,282	3,461
Long-term debt	3,282	3,461
Unsecured Subordinated Loan [Member]
Long-term debt	1,000	1,000
Long-term debt	$ 1,000	$ 1,000

Note 5 - Line of Credit and L_5

Note 5 - Line of Credit and Long-term Debt - Future Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Remainder of 2024	$ 3,282
2026	1,000
Total principal payments	$ 4,282

Note 6 - Operating Leases (Deta

Note 6 - Operating Leases (Details Textual)	9 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Operating Lease, Weighted Average Remaining Lease Term (Year)	9 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	7.30%
Operating Lease, Expense	$ 615,000	$ 517,000
Solar Lease for Buildings [Member]
Leases, Number of Lease Properties	2
Lessee, Operating Lease, Term of Contract (Month)	84 months

Note 6 - Operating Leases - Sup

Note 6 - Operating Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Right-of-use assets	$ 6,149	$ 6,149
Accumulated lease amortization	(1,740)	(1,373)
Total right-of-use assets	4,409	4,776
Current lease liabilities	517	483
Non-current lease liabilities	3,883	4,275
Total lease liabilities	$ 4,400	$ 4,758

Note 6 - Operating Leases - Ope

Note 6 - Operating Leases - Operating Leases Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Remainder of 2024	$ 204
2025	805
2026	795
2027	775
2028	429
Thereafter	3,054
Total undiscounted lease payments	6,062
Less: present value discount	(1,662)
Total lease liability balance	$ 4,400	$ 4,758

Note 7 - Accrued Expenses - Com

Note 7 - Accrued Expenses - Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Mar. 31, 2023
Bonus and profit sharing	$ 100	$ 143
Wages	112	215
Vacation	354	393
Interest and legal	29	30
Other accrued expenses	158	320
Total accrued expenses	$ 753	$ 1,101

Note 9 - Share-based Compensa_3

Note 9 - Share-based Compensation (Details Textual)			3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 13, 2023 shares	Apr. 03, 2023 shares	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) shares	Mar. 31, 2023 USD ($) $ / shares
Number of Shareholder Approved Share-based Compensation Plans			2		2
ShareBased Compensation Arrangement By Share Based Payment Award Weighted Average Grant Date Fair Value Options Granted					$ 24,000
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 79,000		$ 79,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					1 year 4 months 24 days
Share-Based Payment Arrangement, Option [Member] | Employees [Member]
Share-Based Payment Arrangement, Expense			$ 24,000	$ 25,000	$ 73,000	$ 66,000
Share Price (in dollars per share) | $ / shares			$ 0.89		$ 0.89		$ 0.88
Share-Based Payment Arrangement, Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)					10 years
Restricted Stock [Member] | Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Payment Arrangement, Expense					$ 126,000	$ 158,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares					159,493	64,489
Restricted Stock [Member] | Two Board Members [Member] | Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Payment Arrangement, Expense					$ 0		$ 15,500
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares		17,672
Restricted Stock [Member] | One Board Member [Member] | Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Payment Arrangement, Expense					$ 10,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares	12,821
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares					28,018
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Share-Based Payment Arrangement, Expense			$ 20,000	$ 20,000	$ 66,000	$ 42,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount			$ 92,000		$ 92,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					1 year 7 months 6 days

Note 9 - Share-based Compensa_4

Note 9 - Share-based Compensation - Shares Authorized, Available for Future Grant and Outstanding Under Each Plan (Details)	Dec. 31, 2023 shares
Authorized (in shares)	1,950,000
Available (in shares)	838,579
Outstanding (in shares)	355,416
The 2016 Plan [Member]
Authorized (in shares)	1,300,000
Available (in shares)	805,359
Outstanding (in shares)	343,416
2014 Directors Plan [Member]
Authorized (in shares)	650,000
Available (in shares)	33,220
Outstanding (in shares)	12,000

Note 9 - Share-based Compensa_5

Note 9 - Share-based Compensation - Summary of Option Activity Under Stock Plans (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Outstanding (in shares)	253,000
Outstanding, weighted average exercise price (in dollars per share)	$ 2.88
Outstanding, weighted average remaining contractual term (Year)	7 years 4 months 24 days	7 years 6 months
Granted (in shares)	50,000
Granted, weighted average exercise price (in dollars per share)	$ 0.79
Expired (in shares)	(6,000)
Expired, weighted average exercise price (in dollars per share)	$ 5.56
Outstanding (in shares)	297,000	253,000
Outstanding, weighted average exercise price (in dollars per share)	$ 2.47	$ 2.88
Outstanding, aggregate intrinsic value	$ 4,995
Exercisable (in shares)	172,000
Exercisable, weighted average exercise price (in dollars per share)	$ 2.76
Exercisable, weighted average remaining contractual term (Year)	6 years 7 months 6 days

Note 9 - Share-based Compensa_6

Note 9 - Share-based Compensation - Summary of Non-vested Options (Details)	9 Months Ended
	Dec. 31, 2023 $ / shares shares
Nonvested (in shares) | shares	141,667
Nonvested (in dollars per share) | $ / shares	$ 1.55
Granted (in shares) | shares	50,000
Granted (in dollars per share) | $ / shares	$ 0.48
Vested (in shares) | shares	(66,667)
Vested (in dollars per share) | $ / shares	$ 1.49
Nonvested (in shares) | shares	125,000
Nonvested (in dollars per share) | $ / shares	$ 1.16

Note 9 - Share-based Compensa_7

Note 9 - Share-based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Dec. 31, 2023 $ / shares shares
Nonvested restricted stock units (in shares) | shares	70,334
Nonvested restricted stock units, weighted average grant price (in dollars per share) | $ / shares	$ 3.04
Granted (in shares) | shares	28,018
Granted, weighted average grant price (in dollars per share) | $ / shares	$ 0.83
Vested (in shares) | shares	(37,996)
Vested, weighted average grant price (in dollars per share) | $ / shares	$ 2.35
Forfeited (in shares) | shares	(1,940)
Forfeited, weighted average grant price (in dollars per share) | $ / shares	$ 1.99
Nonvested restricted stock units (in shares) | shares	58,416
Nonvested restricted stock units, weighted average grant price (in dollars per share) | $ / shares	$ 2.48

Note 10 - Stockholders' Equity

Note 10 - Stockholders' Equity (Details Textual) - USD ($)		9 Months Ended
	Dec. 15, 2023	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.02		$ 0.02
Proceeds from Issuance of Common Stock		$ 392,000	$ 0
Private Placement [Member]
Stock Issued During Period, Shares, New Issues (in shares)	400,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.02
Shares Issued, Price Per Share (in dollars per share)	$ 1
Proceeds From Sale of Common Stock, Gross Value	$ 400,000
Legal Fees	8,000
Proceeds from Issuance of Common Stock	$ 392,000

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Income Tax Expense (Benefit)	$ 0	$ 8,000	$ 2,000	$ 11,000
Effective Income Tax Rate Reconciliation, Percent		1.40%	0.10%	0.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21%
Unrecognized Tax Benefits	$ 0	$ 0	$ 0	$ 0

Note 12 - Earnings Per Share (D

Note 12 - Earnings Per Share (Details Textual) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Common Stock Options and Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	4,000	1,000	600	4,000

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Summary of Reconciliations Between the Numerator and the Denominator of the Basic and Diluted Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Net loss	$ (1,020)	$ (598)	$ (3,186)	$ (2,010)
Basic (in shares)	6,554	6,272	6,404	6,235
Basic (in dollars per share)	$ (0.16)	$ (0.1)	$ (0.5)	$ (0.32)

Note 13 - Related Party Trans_2

Note 13 - Related Party Transactions (Details Textual) - USD ($)		1 Months Ended	9 Months Ended		12 Months Ended
	Apr. 12, 2021	Apr. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2020	Sep. 30, 2023	Aug. 14, 2023	Mar. 31, 2023	Dec. 14, 2022	Apr. 30, 2019
Interest Paid, Excluding Capitalized Interest, Operating Activities			$ 420,000	$ 242,000
Long-Term Debt			4,282,000
Lines of Credit, Related Party, Current			1,250,000					$ 500,000
Revolving Credit Facility [Member] | Related Party 1 [Member]
Line of Credit Facility, Maximum Borrowing Capacity			2,000,000	$ 1,000,000		$ 2,000,000	$ 2,000,000	1,000,000
Lines of Credit, Related Party, Current			$ 1,250,000					$ 500,000
Debt Instrument, Interest Rate, Stated Percentage			9.50%					8.50%
Conversion of Skywords Note Into Revolving Loans [Member]
Debt Conversion, Original Debt, Amount	$ 500,000
Skywords Note [Member]
Repayments of Long-term Debt, Total	500,000	$ 500,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	1,900	$ 1,900
Skywords Note [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate		1%
Skywords Note [Member] | Unsecured Subordinated Loan [Member]
Debt Instrument, Face Amount										$ 1,500,000
Long-Term Debt			$ 1,000,000					$ 1,000,000
Skywords Note [Member] | Unsecured Subordinated Loan [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate					1%
Skywords Amended Note [Member]
Debt Instrument, Face Amount	$ 500,000								$ 1,000,000
Debt Instrument, Term (Year)	3 years
Debt Instrument, Floor Interest Rate	5%	5%
Skywords Amended Note [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1%