Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
3 Months Ended
Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]  
Presentation of operating lease
    As of June 30, 2020     As of March 31, 2020  
Assets            
Right of use asset – operating lease   $ 3,492,100     $ 3,579,600  
                 
Liabilities                
Current operating lease obligation   $ 325,700     $ 313,400  
Non-current operating lease obligation     3,631,100       3,715,600  
Total operating lease liability   $ 3,956,800     $ 4,029,000  
Operating lease costs
    For the Three Months Ended     For the Three Months Ended  
    June 30, 2020     June 30, 2019  
Operating lease cost   $ 212,800     $ 208,800  
Expected lease expense
Fiscal Years Ending March 31,      
2021 (remaining nine months)   $ 488,000  
2022     668,400  
2023     726,000  
2024     766,000  
2025     789,000  
Thereafter     1,931,400  
Total lease expense     5,368,800  
Less imputed interest     (1,412,000 )
Present value of operating lease liabilities   $ 3,956,800  
Other lease disclosure
    As of June 30, 2020  
Assumed remaining lease term in years     7.08  
Assumed discount rate     8.54 %
Supplemental disclosure of cash flow information
    For the Three Months Ended     For the Three Months Ended  
    June 30, 2020     June 30, 2019  
Cash paid for amounts included in the measurement of lease liabilities   $ 197,500     $ 188,200