Note 8 - Leases

9 Months Ended

Dec. 31, 2024

Lessee, Operating and Finance Leases [Text Block]

NOTE 8 – LEASES

We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2028. The following is a maturity analysis of the annual undiscounted cash flows of the operating lease liabilities as of December 31, 2024:

	For the fiscal year ended:		Amount

FY 2025	March 31, 2025		$	26,718
FY 2026	March 31, 2026			106,872
FY 2027	March 31, 2027			106,872
FY 2028	March 31, 2028			106,872
FY 2029	March 31, 2029	ends June 30, 2029		26,718
				374,052
	Less: Amount attributable to imputed interest			(30,126	)
			$	343,926


	Weighted average remaining lease term (in years)			2.2
	Weighted average discount rate			5	%

Rent and real estate tax expense for all facilities for the three and nine months ended December 31, 2024 was approximately $37,000 and $107,000, respectively.

Rent and real estate tax expense for all facilities for the three and nine months ended December 31, 2023 was approximately was approximately $35,000 and $104,000, respectively.

These are reported as a component of cost of sales and selling, general and administrative expenses in the accompanying consolidated statements of operations.

ADM TRONICS UNLIMITED, INC. 10-Q