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

Period

Minimum Liquidity

September 30, 2024 – March 30, 2025

$

1,000,000

March 31, 2025 – July 30, 2025

$

2,500,000

(1)

July 31, 2025 – September 29, 2025

$

3,000,000

(1)

September 30, 2025 – March 30, 2026

$

3,500,000

March 31, 2026 – December 7, 2026

$

4,000,000

 

(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.

 

Fiscal Quarter Ending

Minimum Adjusted EBITDA

September 30, 2024

$

2,500,000

December 31, 2024

$

4,000,000

March 31, 2025

$

5,000,000

June 30, 2025

$

5,500,000

September 30, 2025

$

6,000,000

December 31, 2025

$

6,500,000

March 31, 2026

$

8,000,000

June 30, 2026

$

8,000,000

September 30, 2026

$

8,000,000

 

Schedule of maturities of long-term debt

Year Ending March 31,

  ​ ​ ​

 

2027

$

25,385

Thereafter

-

Total principal payments and debt maturities

25,385

Less unamortized issuance costs

(65)

Net principal payments and debt maturities

$

25,320