Note 7 - Capital Leases

12 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Capital Leases in Financial Statements of Lessee Disclosure [Text Block]

NOTE 

7

 – CAPITAL LEASES    

During 

September 2016 

the Company leased equipment with a cost of approximately 

$129,000,

 under provisions of various long-term capital leases whereby the minimum lease payments have been capitalized. Accumulated depreciation at 

March 31, 2018 

is approximately 

$62,000.

 The leases expire over various years through 

2021.

 Depreciation of the leased assets is included in depreciation and amortization expense. The lease obligations are secured by the leased assets.

Future minimum lease payments under the above capital leases, as of 

March 31, 2018, 

are approximately as follows:

For the Years Ending March 31,
2020		35,000
2021		20,000
		55,000
Less: Amount attributable to imputed interest		2,000
Present value of minimum lease payments		53,000
Less: Current maturities		31,000
	$	22,000