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Employee Benefit Plans
12 Months Ended
Mar. 31, 2020
Retirement Benefits [Abstract]  
Employee Benefit Plans

NOTE 12 - EMPLOYEE BENEFIT PLANS

 

The Company has a 401(k) plan for its employees to which the Company makes contributions at rates dependent on the level of each employee’s contributions. Contributions made by the Company are limited to the maximum allowable for federal income tax purposes. The amounts charged to operations for contributions to this plan and administrative costs during the fiscal years ended March 31, 2020 and 2019 totaled approximately $63,000 and $70,000, respectively. The amounts are included as a component of general and administrative expense in the accompanying Consolidated Statements of Operations. The Company does not provide any post-employment benefits to retirees.