5. Commitments and Contingencies
|3 Months Ended
Jun. 30, 2016
|Commitments and Contingencies Disclosure [Abstract]
|Commitments and Contingencies
The Company, on occasion, may be involved in legal matters arising in the ordinary course of its business including matters involving proprietary technology. While management believes that such matters are currently insignificant, matters arising in the ordinary course of business for which the Company is or could become involved in litigation may have a material adverse effect on its business, financial condition or results of operations.
As of June 30, 2016 the Company had employment agreements in place with four of its key executives. The agreements provide, among other things, for the payment of nine to twenty-four months of severance compensation for terminations under certain circumstances. With respect to these agreements, at June 30, 2016, the potential severance payments to these key executives would be $1,194,000 and aggregated annual salaries would be $944,000 if triggered.