5. Notes and Lines of Credit

Lines of credit consist of the following:

	June 30,		March 31,
	2016		2016

Hendel $100,000 revolving line of credit due to financial institution, bears interest at prime plus 4.5%, or (8%), interest only payable monthly and matures in March 2017	$	88,764	$	88,764

BAHA $150,000 revolving line of credit due to financial institution, bears interest at prime plus 3.0%, or (6.5%), interest only payable monthly and matures in March 2017		87,500		100,000

	$	176,264	$	188,764

Other lines of credit

LALC has a line of credit of $230,000 that accrues interest at a rate of 5% per annum. The Company has borrowed zero under this line of credit as of June 30, 2016 and March 31, 2016 and the line is auto-renewed on an annual basis.

Interest expense associated with the notes and lines of credit consisted of the following:

	Three Months Ended June 30,
	2016		2015
Interest expense	$	2,659	$	215,178
Amortization of loan fees and discount		-		145,224
	$	2,659	$	360,402

The amount for the three months ended June 30, 2015 includes interest on the debt owed to NNA of approximately $6.5 million that was settled in October of 2015.