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Commitments and Contingencies (Tables) | 12 Months Ended
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Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Schedule of Supplemental Information Related to Leases | Supplemental balance sheet information related to leases as of March 31, 2021 is as follows:
Assets: |  |  |  |
Operating lease - right-of-use assets |  | $ | 2,074,115 |
Finance leases as a component of property and equipment, net of accumulated depreciation of $18,136 |  |  | 25,390 |
Liabilities |  |  |  |
Current |  |  |  |
Current portion of operating leases |  | $ | 794,938 |
Current portion of finance leases |  |  | 2,546 |
Noncurrent |  |  |  |
Operating lease liabilities, net of current portion |  | $ | 1,334,010 |
Finance leases, net of current portion |  |  | - |
Supplemental statement of operations information related to leases for the fiscal year ended March 31, 2021 is as follows:
|  | Fiscal Year Ended |
|  | March 31, 2021 |
Operating lease expense as a component of general and administrative expenses |  | $ | 790,715 |
Finance lease cost |  |  |  |
Depreciation of leased assets as a component of depreciation |  | $ | 6,218 |
Interest on lease liabilities as a component of interest expense |  | $ | 370 |
Supplemental cash flow information related to leases for the nine months ended March 31, 2021 is as follows: |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flow paid for operating leases |  | $ | 805,662 |
Financing cash flow paid for finance leases |  | $ | 14,957 |
Schedule of Lease term and Discount Rate |
Lease term and Discount Rate |  |  |  |
Weighted average remaining lease term (months) |  |  | 30.0 |
Operating leases |  |  | 2.0 |
Finance leases |  |  |  |
Weighted average discount rate |  |  |  |
Operating leases |  |  | 6.25 | %
Finance leases |  |  | 3.68 | %
Schedule of Future Minimum Rental Payments for Operating and Finance Leases | Scheduled maturities of operating and finance lease liabilities outstanding as of March 31, 2021 are as follows:
Fiscal Year |  | Operating Leases |  |  | Finance Leases |
2022 |  | $ | 682,373 |  |  | $ | 2,558 |
2023 |  |  | 931,948 |  |  |  | - |
2024 |  |  | 674,488 |  |  |  | - |
2025 |  |  | 30,739 |  |  |  | - |
Total Minimum Future Payments |  |  | 2,319,548 |  |  |  | 2,558 |
Less: Imputed Interest |  |  | 190,600 |  |  |  | 12 |
Present Value of Lease Liabilities |  | $ | 2,128,948 |  |  | $ | 2,546 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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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://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123386454&loc=d3e45280-112737 + Details
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