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Commitments and Contingencies | 12 Months Ended
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Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | NOTE 8 - COMMITMENTS AND CONTINGENCIES LEGAL MATTERS As of June 28, 2018 management is not aware of any legal proceedings other than matters that arise in the ordinary course of business. OPERATING LEASES The Company has operating lease agreements for office and warehouse facilities in Fort Lauderdale, Florida; Ontario, California; and Macau, China expiring at varying dates. The lease for our office facilities in Macau expired on April 30, 2018. Effective May 1, 2018, the lease was renewed for another three-year term. Rent expense will be fixed at approximately $1,600 per month for the duration of the lease and will expire on April 30, 2021. Rent expense for the years ended March 31, 2018 and 2017 was approximately $0.7 million and $0.6 million, respectively. In addition, the Company maintains various warehouse equipment and office equipment operating leases. Future minimum lease payments under property and equipment leases with terms exceeding one year as of March 31, 2018 are as follows:
|  | Operating Leases |
For fiscal year ending March 31, |  |  |  |
2019 |  | $ | 641,637 |
2020 |  |  | 651,127 |
2021 |  |  | 348,531 |
2022 |  |  | 115,812 |
2023 and beyond |  |  | 238,805 |
|  | $ | 1,995,912 |

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI http://asc.fasb.org/topic&trid=2144648 + Details
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