Capital Lease Obligations

12 Months Ended

Mar. 31, 2017

Capital Lease Obligations [Abstract]

8. Capital Lease Obligations

The Company leases various types of machinery and computer equipment under agreements accounted for as capital leases and included in plant and equipment as follows at March 31:

	2017			2016
Cost	$	3,663,000		$	2,764,000
Less: accumulated depreciation		(893,000	)		(370,000	)
Total	$	2,770,000		$	2,394,000

Future minimum lease payments for the capital leases are as follows:

Year Ending March 31,
2018	$	860,000
2019		823,000
2020		677,000
2021		275,000
2022		85,000
Total minimum lease payments		2,720,000
Less amount representing interest		(208,000	)
Present value of future minimum lease payments		2,512,000
Less current portion of lease payments		(757,000	)

Long-term portion of lease payments	$	1,755,000

The current portion of lease payments of $757,000 is included in other current liabilities and the long-term portion of lease payments of $1,755,000 is included in other liabilities in the accompanying consolidated balance sheet at March 31, 2017.