Annual report [Section 13 and 15(d), not S-K Item 405]

Debt (Tables)

v3.26.1
Debt (Tables)
12 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of minimum consolidated adjusted EBITDA to be maintained as covenant

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Period

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Minimum Liquidity

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September 30, 2024 – March 30, 2025

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$

1,000,000

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March 31, 2025 – July 30, 2025

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$

2,500,000

(1)

July 31, 2025 – September 29, 2025

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$

3,000,000

(1)

September 30, 2025 – March 30, 2026

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$

3,500,000

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March 31, 2026 – December 7, 2026

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$

4,000,000

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(1) On June 23, 2025 the Company received a waiver from Goldman Sachs to defer the increase in the minimum liquidity threshold from $2.5 million to $3.0 million from June 20, 2025 to July 31, 2025.

 

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Fiscal Quarter Ending

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Minimum Adjusted EBITDA

September 30, 2024

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$

2,500,000

December 31, 2024

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$

4,000,000

March 31, 2025

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$

5,000,000

June 30, 2025

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$

5,500,000

September 30, 2025

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$

6,000,000

December 31, 2025

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$

6,500,000

March 31, 2026

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$

8,000,000

June 30, 2026

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$

8,000,000

September 30, 2026

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$

8,000,000

 

Schedule of maturities of long-term debt

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Year Ending March 31,

  ​ ​ ​

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2027

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$

25,385

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Thereafter

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-

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Total principal payments and debt maturities

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25,385

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Less unamortized issuance costs

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(65)

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Net principal payments and debt maturities

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$

25,320

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