12. Commitments

12 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

12.                  Commitments

The Company leases its only facility in East Rutherford, NJ under an operating lease agreement which expires July 31, 2016. The Company also has an option to renew this lease for an additional 5 years after expiration. Under terms of the lease, the Company is also responsible for its proportionate share of the additional rent, to include all real estate taxes, insurance, snow removal, landscaping and other building charges. The Company is also responsible for the utility costs for the premises.

In addition, the Company has agreements to lease equipment for use in the operations of the business under operating leases.

The following is a schedule of approximate future minimum rental payments for operating leases subsequent to the year ended March 31, 2015.

	Years Ended March 31,
2016	$	269,414
2017		91,264
2018		6,317
2019		1,053
2020		--
	$	368,048

Total rent expense, including common charges related to the building as well as equipment rentals, was approximately $355,000 and $312,000 for the years ended March 31, 2015 and 2014, respectively.

The Company sponsors a 401k Plan in which employee contributions on a pre-tax basis are supplemented by matching contributions by the Company. The Company charged to operations $23,555 and $18,585 as its matching contribution to the Company’s 401k Plan for the years ended March 31, 2015 and 2014, respectively.