NOTE

LEASES

We conduct our operations in a leased facility under a non-cancellable lease through

December 31, 2020.

Our lease does

not

provide an implicit rate, so we used our incremental borrowing rate to determine the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term. Variable lease costs consist primarily of common area maintenance and real estate taxes which are paid based on actual costs incurred by the lessor.

Details of our operating lease are as follows:

	Quarter Ended December 31, 2019			Nine Months Ended December 31, 2019
Operating lease cost	$	38,641		$	115,923
Variable lease cost		30,227			90,681
Total		68,868		$	206,604

Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for leases	$	43,365		$	130,095
Remaining lease term (in years)		1
Discount rate		3.5	%

The following table presents the maturities of lease liabilities as of

December 31, 2019:

Year Ending March 31	Operating Leases
2020	$	44,433
2021		133,299
Total lease payments		177,732
Imputed lease interest		(2,816	)
Total lease liabilities	$	174,916