Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax (benefit) expense from continuing operations is summarized as follows:


	Fiscal Year Ended March 31,
(in thousands)	2021		2020
Federal:
Current	$	6	$	(1)
Deferred	—		—
	6		(1)
State:
Current	(46)		19
Deferred	—		—
	(46)		19
Foreign:
Current	18		18
Deferred	—		—
	18		18
Total	$	(22)	$	36

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The statutory federal income tax rate is reconciled to the Company's effective income tax rates as follows:


	Fiscal Year Ended March 31,
	2021		2020
Statutory federal income tax rate	21.0	%	21.0	%
PPP loan forgiveness	12.5		—
Meals and entertainment	—		(0.2)
State income tax, net of federal tax effect	(35.7)		1.0
Valuation allowance	9.2		(20.6)
Tax reserve assessment	36.6		3.8
Expiration of tax attribute	(36.6)		(3.8)
Foreign tax credit	(1.9)		(0.2)
Equity compensation	(3.9)		(1.8)
Other	(0.4)		0.4
Effective income tax rate	0.8	%	(0.4)	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Components of the net deferred income tax assets are as follows:


	March 31,
(in thousands)	2021		2020
Deferred income tax assets:
Allowance for doubtful accounts	$	26	$	26

Foreign tax credit carryforward	759		810
Depreciation	159		165
Deferred revenue	251		339
Accrued compensation	189		214
Inventory reserves	710		817
Accrued warranty	32		41
Net operating loss carryforward	36,858		37,033

Intangibles and goodwill	875		705
Other	727		691
Gross deferred tax assets	40,586		40,841
Valuation allowance	(40,586)		(40,841)
Net deferred income tax assets	—		—

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

A reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits for fiscal years 2020 and 2021 is as follows:


	(in thousands)







Unrecognized tax benefits at March 31, 2019	$	2,182

Additions based on positions related to fiscal year 2020	—
Reductions as a result of expirations of applicable statutes of limitations	(377)
Unrecognized tax benefits at March 31, 2020	1,805
Additions based on positions related to fiscal year 2021	—


Reductions as a result of expirations of applicable statutes of limitations	(1,050)

Unrecognized tax benefits at March 31, 2021	$	755

Summary of Income Tax Examinations [Table Text Block]

With few exceptions, the major jurisdictions subject to examination by the relevant taxable authorities, and open tax years, stated as the Company's fiscal years, are as follows:


Jurisdiction	Open Tax Years
U.S. Federal	2017	-	2020
U.S. States	2016	-	2020
Foreign	2016	-	2020

Since net operating loss carryovers are subject to audit based on the year in which they are utilized, all of the Company’s net operating losses generated in the past are open to adjustment by the Internal Revenue Service or state tax authorities (some states have shorter carryover periods).