11. Commitments

12 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

11.                 Commitments

The Company leases its general office and manufacturing facility in East Rutherford, NJ (approximately 27,000 square feet) under an operating lease agreement which expires July 31, 2016. The lease is for a five year period, beginning August 1, 2011, with a five year option in a one-story facility. In June 2016, the Company extended the lease term for another five years until August 2021. 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.  

The Company also leases a small office in Lawrence, Kansas under an operating lease agreement which expires June 30, 2017.

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, 2016.

	Years Ended March 31,
2017	$	289,074
2018		288,857
2019		283,593
2020		282,540
2021		282,540
	$	1,426,604

Total rent expense, including common charges related to the building as well as equipment rentals, was approximately $358,000 and $355,000 for the years ended March 31, 2016 and 2015, 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 $27,916 and $23,555 as its matching contribution to the Company’s 401k Plan for the years ended March 31, 2016 and 2015, respectively.