Note 11 - Operating Lease Commitments

9 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Leases of Lessee Disclosure [Text Block]

11 . Operating Lease Commitments

In connection with the acquisition of Iasta, we assumed a lease for an office in Carmel, Indiana, which expired

May

31,

2016.

On

April

7,

2016,

the Company entered into a Lease Agreement with Atapco Carmel, Inc. for approximately

8,795

square feet of office space in a building located at

615

West Carmel Drive, Suite

100

in Carmel, Indiana. The term of the lease runs for approximately

51

months and provides for monthly rent payments of

$11,727

per month for the

first

year of the term of the lease (with

three

of the months of the

first

-year term provided rent free), subject to annual adjustment thereafter.

In connection with the relocation of its headquarters to Carmel, Indiana, on

July

22,

2016,

the Company entered into a Second Amendment to Lease with

2121

SEC TT, LLC (formerly SKBGS I, L.L.C.) to terminate its lease obligation at the San Mateo, California location as of

July

31,

2016.

The Company paid a

one

-time early termination fee equal to

three

months’ rent which was partially offset by the security deposit refund due.

Rental expenses for office space were approximately

$0.1

million and

$0.2

million for the

three

months ended

December

31,

2016

and

2015,

respectively, and approximately

$0.5

million and

$0.6

million for the

nine

months ended

December

31,

2016

and

2015,

respectively.