NOTE

– LEASES

The Company has an operating lease for their office and manufacturing facility. The Company’s lease has a remaining lease term of approximately

8.3

years. Operating lease expense for the

nine

months ended

December 31, 2019,

was approximately

$23,000.

Rental expense, for office and manufacturing premise, was approximately

$38,000

for the

nine

months ended

December 31, 2018,

respectively.

Supplemental balance sheet information related to leases consisted of the following:

	December 31, 2019
Weighted average remaining lease term for operating leases (in years)		8.3
Weighted average discount rate for operating leases		5.0	%

The following is a maturity analysis of the annual undiscounted cash flows of the operating lease liability as of

December 31, 2019 (

in thousands):

2020	$	101,875
2021		101,875
2022		101,875
2023		104,375
2024		106,875
Thereafter		374,063
Total lease payments		890,937
Less: Imputed interest		(205,696	)
Present value of operating lease liabilities (a)	$	685,242

(a)	Includes current portion of $68,588 for operating leases