2.4.0.8000140 - Disclosure - Long-term Financing Obligationtruefalsefalse1false falsefalseD120401_130331http://www.sec.gov/CIK0001011060duration2012-04-01T00:00:002013-03-31T00:00:001true 1us-gaap_DisclosureTextBlockAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Notes2false 2us-gaap_SaleLeasebackTransactionDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00I.        Long-Term Financing Obligation On December 22, 2011, the Company entered into an agreement with an independent third-party under which we sold and leased back our land and building generating gross proceeds of $2,000,000.  Pursuant to a lease agreement, the initial minimum lease term is 15 years.  At the end of the initial minimum lease term, we have the option to renew the lease for three periods of five years each.  Under the terms of the lease, we were required to place $280,000 of the net proceeds in escrow as a prepayment of the calendar year 2012 lease payments.  As of March 31, 2012, the balance of the prepaid lease payment was $210,000 and is included in prepaid expenses and other current assets of the consolidated balance sheets.  In addition, we provided, as collateral, a security interest in all furnishings, fixtures and equipment owned and used by us, having a net book value of approximately $146,000 as of March 31, 2012.  For accounting purposes, the provision of such collateral constitutes continuing involvement with the associated property.  Due to this continuing involvement, this sale-leaseback transaction is accounted for under the financing method, rather than as a completed sale.  Under the financing method, we include the sales proceeds received as a financing obligation.  As of March 31, 2013 and March 31, 2012, the total financing obligation was $1,986,000, respectively.  The building, building improvements and land remain on the consolidated balance sheet and the building and building improvements will continue to be depreciated over their remaining useful lives.  Payments made under the lease are applied as payments of imputed interest and deemed principal on the underlying financing obligation. The following table summarizes the financing transaction:   <table border="0" cellspacing="0" cellpadding="0" width="445" style='width:334.0pt;margin-left:18.7pt;border-collapse:collapse'> <tr align="left"> <td width="348" valign="bottom" style='width:261.0pt;padding:.7pt .7pt 0in .7pt'> Gross proceeds from sale of land and building </td> <td width="97" valign="bottom" style='width:73.0pt;padding:.7pt .7pt 0in .7pt'> $2,000,000 </td> </tr> <tr align="left"> <td width="348" valign="bottom" style='width:261.0pt;padding:.7pt .7pt 0in .7pt'> Less: </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'></td> </tr> <tr align="left"> <td width="348" valign="bottom" style='width:261.0pt;padding:.7pt .7pt 0in 6.1pt'> Repayment of promissory note </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> (800,000) </td> </tr> <tr align="left"> <td width="348" valign="bottom" style='width:261.0pt;padding:.7pt .7pt 0in 6.1pt'> Prepayment penalty on promissory note </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> (99,000) </td> </tr> <tr align="left"> <td width="348" valign="bottom" style='width:261.0pt;padding:.7pt .7pt 0in 6.1pt'> Transaction costs </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> (102,000) </td> </tr> <tr align="left"> <td width="348" valign="bottom" style='width:261.0pt;padding:.7pt .7pt 0in .7pt'> Net proceeds from sale of land and building </td> <td valign="bottom" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 2.25pt;border-right:none;padding:.7pt .7pt 0in .7pt'> $999,000 </td> </tr> </table>   The future minimum lease payments as of March 31, 2013 are as follows:   <table border="0" cellspacing="0" cellpadding="0" width="391" style='width:293.0pt;margin-left:18.7pt;border-collapse:collapse'> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;border:none;border-bottom:solid windowtext 1.0pt;padding:.7pt .7pt 0in .7pt'> Fiscal Years Ending March 31, </td> <td width="111" valign="bottom" style='width:83.0pt;padding:.7pt .7pt 0in .7pt'></td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in 6.1pt'> 2014 </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> $335,000 </td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in 6.1pt'> 2015 </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> 335,000 </td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in 6.1pt'> 2016 </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> 335,000 </td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in 6.1pt'> 2017 </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> 345,000 </td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in 6.1pt'> 2018 </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> 355,000 </td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in 6.1pt'> Thereafter </td> <td valign="bottom" style='padding:.7pt .7pt 0in .7pt'> 3,255,000 </td> </tr> <tr align="left"> <td width="280" valign="bottom" style='width:210.0pt;padding:.7pt .7pt 0in .7pt'></td> <td valign="bottom" style='border-top:solid windowtext 1.0pt;border-left:none;border-bottom:double windowtext 2.25pt;border-right:none;padding:.7pt .7pt 0in .7pt'> $4,960,000 </td> </tr> </table> falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for sale leaseback transactions. Includes the elements of a transaction involving the sale of property to another party and the lease of the property back to the seller.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6452660&loc=d3e36991-112694 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 13 -Paragraph 16 -Subparagraph d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6456341&loc=d3e50796-112755 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 40 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6456377&loc=d3e50824-112756 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 98 -Paragraph 17, 18 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. 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