Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.19.3
Commitments and Contingencies (Tables)
6 Months Ended
Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]  
Summary of presentation of operating lease
   

As of September

30, 2019

 
Assets      
Right of use asset – operating lease   $ 3,750,200  
         
Liabilities        
Current operating lease obligation   $ 289,600  
Non-current operating lease obligation     3,879,400  
Total operating lease liability   $ 4,169,000  
Summary of operating lease costs
   

For the Three Months 

Ended

   

For the Six Months 

Ended

 
    September 30, 2019     September 30, 2019  
Operating lease cost   $ 203,100     $ 411,900  
Summary of expected lease expense

Fiscal Years Ending March 31,

     
2020 (remaining six months)   $ 315,500  
2021     645,800  
2022     668,400  
2023     726,000  
2024     766,000  
Thereafter     2,720,400  
Total lease expense     5,842,100  
Less imputed interest     (1,673,100 )
Present value of operating lease liabilities   $ 4,169,000  
Summary of future minimum lease payments

Fiscal Years Ending March 31,

     
2020   $ 623,900  
2021     645,800  
2022     668,400  
2023     225,300  
2024     -  
Thereafter     -  
    $ 2,163,400  
Other Lease disclosure
    As of September 30, 2019  
Assumed remaining lease term in years     7.84  
Assumed discount rate     8.54 %
Supplemental disclosure of cash flow information
 

For the Six Months 

Ended

  September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities   $ 374,200