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Leases | 6 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases | The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; however, most of the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate. The Company leases its corporate office space and certain facilities under long-term operating leases expiring through fiscal year 2024. Effective April 1, 2019, the Company adopted the provision of ASC 842 Leases. The table below presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets as of September 30, 2019:
|  | Classification on Balance Sheet |  |  | September 30,
2019
Assets |  |  |  |  |  |
Operating lease assets |  | Right-of-use assets |  |  | $ | 14,472
Total lease assets |  |  |  |  |  | $ | 14,472
Liabilities |  |  |  |  |  |  |
Operating lease liability |  | Operating lease obligations |  |  | $ | 15,979
Total lease liability |  |  |  |  | $ | 15,979
Lease obligations at March 31, 2019, consisted of the following:
Twelve months ending March 31, |  |  |
2020 – remainder |  | $ | 3,022 |
2021 |  |  | 6,084 |
2022 |  |  | 5,580 |
2023 |  |  | 3,936 |
2024 |  |  | 495 |
2025 |  |  | 11 |
Total payments |  |  | 19,128 |
Less: amounts representing interest |  |  | (3,149 | )
Lease obligation, net |  | $ | 15,979 |
Weighted average remaining lease term (in months) |  |  | 32 |
Weighted average discount rate |  |  | 12 | %
Lease commitments for short-term operating lease as of September 30, 2019 is approximately $681. The Company’s rent expense for office space was $155 and $277 for the three and six months ended September 30, 2019 and $1,198 and $2,218 for the three and six months ended September 30, 2018, respectively.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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