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Lease Commitments | 12 Months Ended
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Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract] |
Lease Commitments | 14. Lease Commitments The Company leases its principal office space. On April 1, 2013, the Company agreed to a three year lease, with an option to renew for an additional two years. On April 1, 2014, the Company agreed to a three year lease for an additional office space. In February 2016, the Company exercised its option to renew the 2013 lease. The following table summarizes future payments the Company is obligated to make based on the lease commitments in place as of March 31, 2016:
|  | Commitment Amount (1) |
Fiscal Year 2017 |  | $ | 23,440 |
Fiscal Year 2018 |  | $ | 19,020 |
| (1) | The total commitment for the remainder of the leases is $60,939 which includes $18,479 billed to and reimbursed by the Company’s principal shareholder for his portion of the shared office space.
Lease expense for fiscal years ended March 31, 2016, 2015 and 2014 was $23,438, $23,442 and $19,020, respectively.

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- Definition The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a)(19)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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