Commitments and Contingencies

3 Months Ended

Jun. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

NOTE 8 - COMMITMENTS AND CONTINGENCIES

LEGAL MATTERS

Management is not aware of any legal proceedings other than matters that arise in the ordinary course of business.

OPERATING LEASES

The Company has operating lease agreements for office and warehouse facilities in Fort Lauderdale, Florida; Ontario, California; and Macau, China expiring at varying dates. The lease for our office facilities in Macau expired on April 30, 2018. Effective May 1, 2018, the lease was renewed for another three-year term. Rent expense is fixed at approximately $1,600 per month for the duration of the lease and will expire on April 30, 2021. Rent expense for the three months ended June 30, 2018 and 2017 was approximately $175,000 and $161,000, respectively. In addition, the Company maintains various warehouse equipment and office equipment operating leases.

Future minimum lease payments under property and equipment leases with terms exceeding one year as of June 30, 2018 are as follows:

	Operating Leases
For period ending June 30,
2019	$	648,510
2020		651,922
2021		215,083
2022		115,055
2023		118,507
2024 and beyond		91,323
	$	1,840,400