Capitalized Lease Obligations

12 Months Ended

Mar. 31, 2020

Disclosure Text Block Supplement [Abstract]

Debt and Capital Leases Disclosures [Text Block]

12.                Finance and Capital 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 consolidated 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 $4,802 and $10,041 at March 31, 2020 and 2019, respectively. There were no new capital lease obligations during the years ended March 31, 2020 and 2019. As of March 31, 2020 and 2019, accumulated amortization under capital leases was $632,387 and $627,148, respectively.

At March 31, 2020 the remaining balance was $49. The Company included capital lease obligations as of March 31, 2019 under the finance lease obligations caption in the consolidated balance sheet.