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NJEDA BONDS
9 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Debt Disclosure [Text Block]
NOTE 5     -
NJEDA BONDS
Bond financing consisting of the following, as of:
 
 
 
December 31
 
March 31
 
 
 
2014
 
2014
 
Refinanced NJEDA Bonds
 
$
2,275,000
 
$
3,385,000
 
 
 
 
 
 
 
 
 
Current portion
 
 
(210,000)
 
 
(3,385,000)
 
 
 
 
 
 
 
 
 
Long term portion, net of current maturities
 
$
2,065,000
 
$
 
 
Maturities of Bonds for the next five years are as follows (please note that $1,110,000 in bond maturities scheduled for the fiscal year ending March 31, 2015 were paid during the quarter ended September 30, 2014):
 
YEAR ENDING MARCH 31,
 
AMOUNT
 
2016
 
 
210,000
 
2017
 
 
220,000
 
2018
 
 
85,000
 
2019
 
 
90,000
 
2020
 
 
95,000
 
Thereafter
 
 
1,365,000
 
 
 
$
2,065,000