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Leases (Tables) | 12 Months Ended
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Mar. 31, 2020
Leases [Abstract] |
Schedule of Future Minimum Lease Payments Under Non-cancellable Leases | Future minimum lease payments under non-cancellable leases as of March 31, 2020 are as follows:
Years Ended March 31, |  |  |
2021 |  |  | 707,391 |
2022 |  |  | 717,387 |
2023 |  |  | 727,384 |
2024 |  |  | 670,112 |
Thereafter |  |  | 2,168,932 |
|  |  | 4,991,206 |
Less: Amount Representing Interest |  |  | (1,507,482 | )
|  | $ | 3,483,724 |
Schedule of Future Minimum Rental Payments for Operating Leases | The following table outlines our future contractual financial obligations associated with this lease by fiscal year in which payment is expected, as of March 31, 2020:
|  | 2021 |  |  | 2022 |  |  | Total |
Payson Lease |  | $ | 120,000 |  |  | $ | 80,000 |  |  | $ | 200,000 |
Our executive offices are located in Scottsdale, Arizona where we lease 21,000 square feet of office and warehouse space for $17,702, which will increase by approximately 4.4% each year. This space houses our principal executive, administration, marketing, and research and development functions. The lease expires in December of 2023. The following table outlines our future contractual financial obligations associated with this lease by fiscal period in which payment is expected, as of March 31, 2020:
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 |  |  | Total |
Scottsdale Lease |  | $ | 226,587 |  |  | $ | 236,583 |  |  | $ | 246,580 |  |  | $ | 147,240 |  |  | $ | 856,990 |
Our ammunition casing operations are located in Manitowoc, Wisconsin where we lease approximately 50,000 square feet. The terms of the lease provide for a monthly payment of approximately $32,844. The lease expires in March of 2026 and can be renewed every three years thereafter. The following table outlines our future contractual financial obligations associated with this lease by fiscal period in which payment is expected, as of March 31, 2020:
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | 2024 |  |  | 2025 |  |  | 2026 |  |  | Total |
Manitowoc Lease |  | $ | 394,128 |  |  | $ | 394,128 |  |  | $ | 394,128 |  |  | $ | 394,128 |  |  | $ | 394,128 |  |  | $ | 394,128 |  |  | $ | 2,364,768 |

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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121573735&loc=d3e41502-112717 + Details
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