Note 9 - Leases

6 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Lessee, Operating and Finance Leases [Text Block]

NOTE 9 – LEASES

We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on  June 30, 2028. The following is a maturity analysis of the annual undiscounted cash flows of the operating lease liabilities as of  September 30, 2021: 

For the Period Ending September 30,
2022	$	101,875
2023		103,125
2024		106,875
2025		106,875
2026		106,875
Thereafter		187,031
		712,656
Less: Amount attributable to imputed interest		(109,805	)
Net liability at September 30, 2021	$	602,851
Weighted average remaining lease term (in years)		7.0
Weighted average discount rate		5.00	%

Rent and real estate tax expense for all facilities for the three and six months ended  September 30, 2021 was approximately $35,000 and $69,000, respectively. Rent and real estate tax expense for all facilities for the three and six months ended  September 30, 2020 was approximately $34,000 and $68,000, respectively. These are reported as a component of cost of sales and selling, general and administrative expenses in the accompanying consolidated statements of operations.