SUBSEQUENT EVENTS	12 Months Ended
Mar. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 18 – SUBSEQUENT EVENTS Assignment of Claim On April 17, 2015, Ranor, Inc., entered into an Assignment of Claim Agreement, or the Assignment Agreement, with Citigroup Financial Products Inc., or Citigroup. Pursuant to the terms of the Assignment Agreement, Ranor agreed to sell, transfer, convey and assign to Citigroup all of Ranor’s right, title and interest in and to Ranor’s unsecured claim against GTAT in the aggregate amount of $3,740,956.34. GTAT, together with certain of its direct and indirect subsidiaries, or collectively, the GTAT Group, commenced voluntary cases under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. The GTAT Group’s bankruptcy filing caused an automatic stay in the arbitration proceeding that Ranor had previously asserted GTAT and caused Ranor’s arbitration claim to become an unsecured creditor claim in the GTAT Group’s bankruptcy case. Pursuant to the Assignment Agreement, Citigroup will pay to Ranor an initial amount equal to $1,122,286.90, subject to a 54.75% (or $645,314.97) holdback, such Holdback. The Holdback is to be paid either (A) upon receipt of written notice Ranor’s Claim against GTAT (or any portion thereof) has been fully and finally allowed against the GTAT as a non-contingent, liquidated, and undisputed general unsecured claim, been listed as non-contingent, liquidated, and undisputed on schedules filed by GTAT with the Bankruptcy Court, or appeared on the claims agent’s or trustee’s or other estate representative’s records, or has otherwise been conclusively and finally treated in the GTAT proceedings, as “allowed” or “accepted as filed”; or (B) the time period during which any party (including GTAT) is permitted to file an objection, dispute or challenge with respect to the Ranor’s claim against GTAT in the proceedings expires and no objection, dispute or challenge has been filed with respect to any portion of this claim. If the total amount of Ranor’s claim that is allowed against GTAT, then Citigroup must pay Ranor the entire Holdback; however; if the amount of Ranor’s claim that is allowed is greater than $1,692,782.74 but less than the total amount of the claim, then Citigroup only has to pay Ranor an amount equal to the Holdback minus the product of 30% multiplied by the difference between the total amount of Ranor’s claim and the amount of Ranor’s claim that is actually allowed. If the total amount of Ranor’s claim that is allowed against GTAT is less than $1,692,782.74, then Ranor may be obligated to repurchase, at Citigroup’s election, any portion of its claim not allowed below $1,692,782.74 multiplied by 30%, plus interest at 7% per annum from April 21, 2015 through the repurchase date on the portion of the claim Ranor is obligated to repurchase from Citigroup. The Company cannot predict the amount of Ranor’s claim that will be finally allowed or admitted in the GTAT bankruptcy proceeding and cannot guarantee that Ranor will receive any additional payment on its Claim. New Lease On June 1, 2015 we entered into a new office lease with GPX Wayne Office Properties, L.P., or GPX Wayne, pursuant to which the Company will lease approximately 1,100 square feet located at 992 Old Eagle School Road, Wayne, Pennsylvania, or the Wayne Property, commencing on the earlier of (i) the date when the Company assumes possession of the Wayne Property or (ii) the date set in a notice provided by GPX Wayne to the Company at least fifteen days before the substantial completion of certain leasehold improvements to the Wayne Property. We anticipate that the commencement date of this lease will be on or about June 15, 2015. The initial term of this lease will expire on the last day of the twelfth calendar month after the commencement date, unless sooner terminated in accordance with the terms of the lease. The Company’s base rent for the Wayne Property will be $1,837.88 per month in addition to payments for electricity (on a proportionate ratio basis for the entire building), certain contributions for leasehold improvements, and certain other additional rent items (including certain taxes, insurance premiums and operating expenses). Other than as described above, there is no relationship between the Company and GPX Wayne. Termination of Lease On June 4, 2015, the Company entered into a lease termination agreement with CLA pursuant to which the Company and CLA agreed to terminate the Newtown Square Lease. Pursuant to the lease termination agreement, the Newtown Square Lease will be terminated on, and the Company will vacate the Newtown Square Property on or before June 30, 2015. The lease termination agreement provides that the CLA will retain the Company’s security deposit of $2,400.

NOTE 18 – SUBSEQUENT EVENTS

Assignment of Claim

On April 17, 2015, Ranor, Inc., entered into an Assignment of Claim Agreement, or the Assignment Agreement, with Citigroup Financial Products Inc., or Citigroup. Pursuant to the terms of the Assignment Agreement, Ranor agreed to sell, transfer, convey and assign to Citigroup all of Ranor’s right, title and interest in and to Ranor’s unsecured claim against GTAT in the aggregate amount of $3,740,956.34. GTAT, together with certain of its direct and indirect subsidiaries, or collectively, the GTAT Group, commenced voluntary cases under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. The GTAT Group’s bankruptcy filing caused an automatic stay in the arbitration proceeding that Ranor had previously asserted GTAT and caused Ranor’s arbitration claim to become an unsecured creditor claim in the GTAT Group’s bankruptcy case. Pursuant to the Assignment Agreement, Citigroup will pay to Ranor an initial amount equal to $1,122,286.90, subject to a 54.75% (or $645,314.97) holdback, such Holdback. The Holdback is to be paid either (A) upon receipt of written notice Ranor’s Claim against GTAT (or any portion thereof) has been fully and finally allowed against the GTAT as a non-contingent, liquidated, and undisputed general unsecured claim, been listed as non-contingent, liquidated, and undisputed on schedules filed by GTAT with the Bankruptcy Court, or appeared on the claims agent’s or trustee’s or other estate representative’s records, or has otherwise been conclusively and finally treated in the GTAT proceedings, as “allowed” or “accepted as filed”; or (B) the time period during which any party (including GTAT) is permitted to file an objection, dispute or challenge with respect to the Ranor’s claim against GTAT in the proceedings expires and no objection, dispute or challenge has been filed with respect to any portion of this claim. If the total amount of Ranor’s claim that is allowed against GTAT, then Citigroup must pay Ranor the entire Holdback; however; if the amount of Ranor’s claim that is allowed is greater than $1,692,782.74 but less than the total amount of the claim, then Citigroup only has to pay Ranor an amount equal to the Holdback minus the product of 30% multiplied by the difference between the total amount of Ranor’s claim and the amount of Ranor’s claim that is actually allowed. If the total amount of Ranor’s claim that is allowed against GTAT is less than $1,692,782.74, then Ranor may be obligated to repurchase, at Citigroup’s election, any portion of its claim not allowed below $1,692,782.74 multiplied by 30%, plus interest at 7% per annum from April 21, 2015 through the repurchase date on the portion of the claim Ranor is obligated to repurchase from Citigroup. The Company cannot predict the amount of Ranor’s claim that will be finally allowed or admitted in the GTAT bankruptcy proceeding and cannot guarantee that Ranor will receive any additional payment on its Claim.

New Lease

On June 1, 2015 we entered into a new office lease with GPX Wayne Office Properties, L.P., or GPX Wayne, pursuant to which the Company will lease approximately 1,100 square feet located at 992 Old Eagle School Road, Wayne, Pennsylvania, or the Wayne Property, commencing on the earlier of (i) the date when the Company assumes possession of the Wayne Property or (ii) the date set in a notice provided by GPX Wayne to the Company at least fifteen days before the substantial completion of certain leasehold improvements to the Wayne Property. We anticipate that the commencement date of this lease will be on or about June 15, 2015. The initial term of this lease will expire on the last day of the twelfth calendar month after the commencement date, unless sooner terminated in accordance with the terms of the lease. The Company’s base rent for the Wayne Property will be $1,837.88 per month in addition to payments for electricity (on a proportionate ratio basis for the entire building), certain contributions for leasehold improvements, and certain other additional rent items (including certain taxes, insurance premiums and operating expenses). Other than as described above, there is no relationship between the Company and GPX Wayne.

Termination of Lease

On June 4, 2015, the Company entered into a lease termination agreement with CLA pursuant to which the Company and CLA agreed to terminate the Newtown Square Lease. Pursuant to the lease termination agreement, the Newtown Square Lease will be terminated on, and the Company will vacate the Newtown Square Property on or before June 30, 2015. The lease termination agreement provides that the CLA will retain the Company’s security deposit of $2,400.