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Related Parties
12 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

9.                  Related Parties


Subordinated Notes


On February 22, 2010, the Company borrowed $250,000 in exchange for issuing subordinated notes to two executive officers and directors in the amount of $125,000 (individually, the “Subordinated Note” and collectively, the “Subordinated Notes”). The notes became due April 1, 2011 with an interest rate of 1% per month, payable on a monthly basis within 14 days of the end of each month. The holders of Subordinated Notes agreed that the Company’s failure to pay the monthly interest amounts pursuant to the terms of the February 22, 2010 Subordinated Notes will not constitute an event of default on such notes. Upon payment in full of the loan to BCA in November 2014, the Company was able to commence to pay down the principal balance of the Subordinated Notes. During fiscal year 2012, the Company’s Chairman, at the time, passed away. His surviving spouse has retained this Subordinated Note and continues to acknowledge the terms. The remaining principal balances on the notes were fully paid during the year ended March 31, 2017. The Company continues to accrue interest. Total interest expense was $990 for the year ended March 31, 2019. All interest was repaid as of March 31, 2019. Accrued interest at March 31, 2020 and 2019 was $-0- and $-0-, respectively.


Services


The Company has obtained marketing and sales services from a brother-in-law of the Company’s CEO with the related fees and commissions amounting to $145,376 and $161,026 for the years ended March 31, 2020 and 2019, respectively. At March 31, 2020, $15,650 was due this individual, which is included in accounts payable in the accompanying consolidated balance sheet.