COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 13 – COMMITMENTS AND CONTINGENCIES

Rent Commitment

The Company leases four manufacturing facilities under operating leases. Operating lease expense amounted to $1,528,500 and $1,274,606 for the years ended March 31, 2019 and 2018, respectively.

Future minimum lease payments under non-cancelable operating leases are as follows:

Twelve months ended March 31,
2020	$	867,837
2021		242,836
2022		220,657
2023 and thereafter		176,300
Total	$	1,507,630

The Company has thirty operating leases for its facilities that require monthly payments ranging between $247 and $15,303. Twenty-five operating leases are renewable on an annual basis.

In addition, in connection with a transaction accounted for as an asset purchase, as further described in Footnote 15 - Subsequent Events of the financial statements, the Company entered into a lease for the primary factory facility and housing accommodations and expects to lease the satellite facility space.

Contingencies

From time to time, the Company is a party to various legal actions arising in the ordinary course of business. The Company accrues costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company’s management does not expect any liability from the disposition of such claims and litigation individually or in the aggregate to have a material adverse impact on the Company’s consolidated financial position, results of operations and cash flows.