Capital Lease Obligations and Other Borrowings

9 Months Ended

Dec. 31, 2013

Capital Lease Obligations and Other Borrowings

NOTE 7 — CAPITAL LEASE OBLIGATIONS AND OTHER BORROWINGS

Capital Lease Obligations

At December 31, 2013 and March 31, 2013, borrowings under long-term facilities consisted of the following (in thousands):

	December 31, 2013			March 31, 2013
	(Unaudited)
Capitalized lease obligations		58			73
Less current maturities		(43	)		(43	)
Long term debt	$	15		$	30

Other Borrowings

Letters of Credit — The Company uses Hang Seng Bank to issue letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At December 31, 2013, the Company had no outstanding letters of credit. In the event that the Company does have outstanding letters of credit with Hang Seng Bank, a like amount of cash is posted by the Company as collateral against such outstanding letters of credit, and is classified by the Company as Restricted Cash on the balance sheet.