Note 7 - Commitments and Contingencies

3 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

NOTE 

7

 - COMMITMENTS AND CONTINGENCIES

We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on

June 30, 2019.

The Company’s future minimum lease commitment at

June 30, 2017

is as follows: 

For the twelve months ended June 30,
Period	Per year
2018	$	104,625
	$	104,625

Rent and real estate tax expense for all facilities for the

three

months ended

June 30, 2017

and

2016

was approximately

$32,000

for each period. 

On

December 2, 2016,

the Company entered into a capital lease agreement with a commercial bank in the amount of

$85,680,

including

$6,930

in deferred interest, for the purchase of certain property and equipment. The lease has a term of

forty-eight

(

48

) months and is payable in

forty-eight

equal installments of

$1,785.

The balance of this obligation as of

June 30, 2017,

was

$67,266.

On

December 2, 2016,

the Company entered into a capital lease agreement with a commercial bank in the amount of

$54,710,

including

$4,710

in deferred interest, for the purchase of certain property and equipment. The lease has a term of

forty-eight

(

48

) months and is payable in

forty-eight

equal installments of

$1,139.

The balance of this obligation as of

June 30, 2017,

was

$42,708.