Annual report pursuant to Section 13 and 15(d)

12. Leases (Tables)

v3.20.2
12. Leases (Tables)
 12 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Lease cost information

    March 31,     April 1,     March 31,  
    2020     2019     2019  
Operating leases:                        
Operating lease right-of-use assets   $ 963,000     $ 1,442,000     $ –  
Operating lease liabilities – current     251,000       497,000       –  
Operating lease liabilities – non-current     746,000       1,005,000       –  
Finance leases:                        
Property, plant and equipment     –       95,000       95,000  
Current portion of financing leases     –       141,000       141,000  

 

Other information related to leases is presented below:

 

    Twelve Months Ended March 31, 2020  
Lease cost        
Operating lease cost   $ 661,000  
         
As of March 31, 2020      
Other information:        
Operating cash flows from operating leases   $ 681,000  
Weighted-average remaining lease term – operating leases (in months)     48.6  
Weighted-average discount rate – operating leases     6.00%  

 
Schedule of minimum operating lease liabilities

As of March 30, 2020, the annual minimum lease payments of our operating lease liabilities were as follows:

 

For Years Ending March 31,      
       
2021   $ 302,000  
2022     270,000  
2023     247,000  
2024     223,000  
Thereafter     89,000  
Total future minimum lease payments, undiscounted     1,131,000  
Less: imputed interest     (134,000 )
Present value of future minimum lease payments   $ 997,000