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Capital Lease Obligations (Tables)

12 Months Ended

Mar. 31, 2015

Capital Lease Obligations [Abstract]

Machinery and computer equipment under agreements accounted for as capital leases

The Company leases various types of machinery and computer equipment under agreements accounted for as capital leases and included in plant and equipment as follows at March 31:

		2015				2014
Cost		$	617,000			$	343,000
Less: accumulated depreciation			(95,000	)			(25,000	)
Total		$	522,000			$	318,000

Future minimum lease payments for capital leases

Future minimum lease payments for the capital leases are as follows:

Year Ending March 31,
2016		$	150,000
2017			141,000
2018			140,000
2019			111,000
2020			50,000
Total minimum lease payments			592,000
Less amount representing interest			(64,000	)
Present value of future minimum lease payment			528,000
Less current portion			(125,000	)
		$	403,000

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- Definition

Tabular disclosure of long-lived, depreciable assets that are subject to a lease meeting the criteria for capitalization and are used in the normal conduct of business to produce goods and services. Examples may include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

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- Definition

Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

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