Operating Lease Liability (Tables)

12 Months Ended

Mar. 31, 2020

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable operating leases with terms of more than one year to the total lease liabilities recognized on the consolidated balance sheet as of March 31, 2020:

2021	$	227,880
2022		93,381
Total undiscounted future minimum lease payments		321,261
Less: Difference between undiscounted lease payments and discounted lease liabilities		(14,521	)
Present value of net minimum lease payments		306,740
Less current portion		(214,793	)
Operating lease liabilities – long-term	$	91,947

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The Company adopted ASU 2016-02 using a modified retrospective adoption method at April 1, 2019 as noted in Note 2 “Recently Adopted Authoritative Pronouncements”. As required, the following disclosure is provided for periods prior to adoption. Minimum operating lease commitments as of March 31, 2019 that have initial or remaining lease terms in excess of one year are as follows:

Years Ended March 31,	Amount
2020	$	327,434
2021		312,431
2022		128,610
	$	768,475