NOTE

LEASES

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

March 31, 2026.

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 Dec. 31, 2020			Nine Months Ended Dec. 31, 2020
Operating lease cost	$	38,641		$	115,923
Variable lease cost		30,608			91,824
Total	$	69,249		$	207,747

Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for leases	$	44,433		$	133,299
Remaining lease term (in months)		63
Discount rate		3.5	%

The following table presents the maturities of lease liabilities as of

December

31,

2020:

Year Ending March 31	Operating Leases
2021	$	(4,762	)
2022		152,703
2023		156,121
2024		159,592
2025		163,224
2026		165,947
Total lease payments		792,825
Imputed lease interest		(72,207	)
Total lease liabilities	$	720,618