Quarterly report pursuant to Section 13 or 15(d)

LEASE OBLIGATIONS (Tables)

v3.19.3.a.u2
LEASE OBLIGATIONS (Tables)
9 Months Ended
Dec. 31, 2019
LEASE OBLIGATIONS (Tables)  
Schedule of cash flow supplemental
 
 
Nine Months
Ended
December 31,
2019
 
Lease Cost
 
Operating lease cost (included in general and administration in the Company’s unaudited condensed statement of operations)
 
$
25,398
 
Other Information
 
Cash paid for amounts included in the measurement of lease liabilities
 
$
-
 
Weighted average remaining lease term – operating leases (in years)
 
4.3
 
Average discount rate – operating leases
 
4
%
 
Schedule of balance sheet information related to leases
 
 
At
December 31, 2019
 
Operating leases
 
Long-term right-of-use assets
 
$
350,752
 
Short-term operating lease liabilities
 
$
89,136
 
Long-term operating lease liabilities
 
261,616
 
Total operating lease liabilities
 
$
350,752
 
Schedule of maturities of lease liabilities
 
Fiscal Year Ending March 31,
 
Operating Leases
 
2020 (remaining 3 months)
 
$
25,398
 
2021
 
101,593
 
2022
 
85,092
 
2023
 
60,593
 
2024
 
68,593
 
2025
 
34,296
 
Total lease payments
 
383,565
 
Less: Imputed interest/present value discount
 
(32,813
)
 
$
350,752