Note 8 - Leases

3 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Lessee, Operating and Finance Leases [Text Block]

NOTE 8 – 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 June 30, 2022:

For the fiscal year ended:	Amount
June 30, 2023	$	101,875
June 30, 2024		106,875
June 30, 2025		106,875
June 30, 2026		106,875
June 30, 2027		115,781
June 30, 2028		97,969
		636,250
Less: Amount attributable to imputed interest		(88,103	)
	$	548,147
Weighted average remaining lease term (in years)		3.5
Weighted average discount rate		5	%

Rent and real estate tax expense for all facilities for the three months ended June 30, 2022 and 2021 was approximately $34,000 and $23,000, respectively. These are reported as a component of cost of sales and selling, general and administrative expenses in the accompanying consolidated statements of operations.