Annual report pursuant to Section 13 and 15(d)

4. Disposition of Latin American Operations (Tables)

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4. Disposition of Latin American Operations (Tables)
 12 Months Ended
Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of proceeds from disposition
Cash received on October 27, 2016   $ 18,000,000  
Cash received on March 16, 2017     1,500,000  
Face value of variable consideration ($250,000 per year for ten years)     2,500,000  
Total proceeds from sale     22,000,000  
Equipment costs     (305,000 )
Transaction costs     (556,000 )
Total proceeds, net of transaction costs     21,139,000  
Discount on variable consideration (using a 7.5% discount rate)     (752,000 )
Total proceeds, net of discount   $ 20,387,000  
Allocation of proceeds
Services under the Technical Services Arrangement   $ 708,000  
Production equipment manufactured, net     192,000  
Intellectual property and territory rights     19,487,000  
Total proceeds   $ 20,387,000  
Schedule of income from discontinued operations
   

Year Ended

March 31,

  
    2018     2017  
Revenues   $ –     $ 3,105,000  
Cost of revenues     –       561,000  
Income from discontinued operations before tax     –       2,544,000  
Gain on disposal of discontinued operations before income taxes     –       19,679,000  
Total income from discontinued operations, before tax     –       22,223,000  
Income tax expense     –       (4,280,000 )
Income from discontinued operations, net of tax   $ –     $ 17,943,000