12. Capitalized Lease Obligations

12 Months Ended

Mar. 31, 2019

Disclosure Text Block Supplement [Abstract]

Debt and Capital Leases Disclosures [Text Block]

12.                Capitalized Lease Obligations

The Company has entered into lease commitments for equipment that meet the requirements for capitalization. The equipment has been capitalized and shown in equipment and leasehold improvements in the accompanying balance sheets.  The related obligations are also recorded in the accompanying consolidated balance sheets and are based upon the present value of the future minimum lease payments with an interest rate of 9%.  The net book value of equipment acquired under capitalized lease obligations amounted to $10,041 and $15,280 at March 31, 2019 and 2018, respectively. There were no new capital lease obligations during the years ended March 31, 2019 and 2018. As of March 31, 2019 and 2018, accumulated amortization under capital leases was $627,148 and $621,909, respectively.

At March 31, 2019, future payments under capital leases are as follows over each of the next five fiscal years:

2020	$	7,209
2021		-
2022		-
2023		-
2024		-
Total minimum lease payments		7,209
Less amounts representing interest		(324	)
Present value of net minimum lease payments	$	6,885