Annual report pursuant to Section 13 and 15(d)

6. Prepaid Expenses and Other Current Assets

v3.19.2
6. Prepaid Expenses and Other Current Assets
 12 Months Ended
Mar. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Prepaid Expenses and Other Current Assets

NOTE 6 – Prepaid Expenses and Other Current Assets

 

Prepaid expenses and other current assets consist of the following:

 

    March 31,  
    2019     2018  
Prepaid insurance   $ 354,000     $ 440,000  
Prepaid rebates     78,000       270,000  
Tax prepaid to Mexican tax authorities     963,000       215,000  
Other prepaid expenses and other current assets     299,000       622,000  
    $ 1,694,000     $ 1,547,000  

 

The long-term portion of the prepayment to the Mexican tax authorities amounted to $399,000 and is recorded in other assets in the accompanying March 31, 2019 balance sheet.