Note 8 - Leases

6 Months Ended

Sep. 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 September 30, 2022:

For the fiscal year ended:	Amount
March 31, 2023	$	50,937
March 31, 2024		105,625
March 31, 2025		106,875
March 31, 2026		106,875
March 31, 2027		106,875
March 31, 2028		106,875
March 31, 2029		26,719
		610,781
Less: Amount attributable to imputed interest		(81,329
	$	529,452
Weighted average remaining lease term (in years)		3.1
Weighted average discount rate		5	%
Present Value of future payments	$	18,793

Rent and real estate tax expense for all facilities for the three and six months ended September 30, 2022 was approximately was approximately $34,000 and $68,000, respectively.

Rent and real estate tax expense for all facilities for the three and six months ended September 30, 2021 was approximately was approximately $35,000 and $69,000, respectively.

These are reported as a component of cost of sales and selling, general and administrative expenses in the accompanying consolidated statements of operations.