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Related Party Transactions
12 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 3 — RELATED PARTY TRANSACTIONS:

From time to time, Emerson engages in business transactions with its controlling shareholder, Nimble Holdings Company Limited (“Nimble”), formerly known as The Grande Holdings Limited (“Grande”), and one or more of Nimble’s direct and indirect subsidiaries, or with entities related to the Company’s Chairman of the Board. Set forth below is a summary of such transactions.

Controlling Shareholder

S&T International Distribution Limited (“S&T”), which is a wholly owned subsidiary of Grande N.A.K.S. Ltd., which is a wholly owned subsidiary of Nimble, collectively have, based on a Schedule 13D/A filed with the Securities and Exchange Commission (“SEC”) on February 15, 2019, the shared power to vote and direct the disposition of 15,243,283 shares, or approximately 72.4%, of the Company’s outstanding common stock as of March 31, 2020. Accordingly, the Company is a “controlled company” as defined in Section 801(a) of the NYSE American Company Guide.

  

Related Party Transactions      

Ancillary Expenses Pertaining to Rented Office Space in Hong Kong

During the twelve months ended March 31, 2020 the Company was billed nil and approximately $5,800 and $13,000 for the twelve months ended March 31, 2019, for utility and service charges from Lafe Strategic Services Limited (“LSSL”) and the Grande Properties Management Limited (“GPML”), both related parties to the Company’s Chairman of the Board, in connection with the Company’s rented office space in Hong Kong. The Company owed nil to both LSSL and GPML related to these charges at March 31, 2020 and March 31, 2019.

Administrative service fees charged to related parties

During the twelve months ended March 31, 2020, the Company billed nil and approximately $23,000 for the twelve months ended March 31, 2019 for administrative fees to Phenomenon Agents Ltd (“PAL”), Sansui Acoustics Research Corporation (“SARC”) and TWD Industrial Co. Ltd. (“TICL"), which are subsidiaries of Nimble. The Company was owed nil from PAL, SARC and TICL related to these charges at March 31, 2020 and March 31, 2019.

Charges of rental and utility fees on office space in Hong Kong

During the twelve months ended March 31, 2020, the Company was billed approximately $174,000 and $74,000 for the twelve months ended March 31, 2019, for rental and utility fees from Vigers Appraisal and Consulting Ltd (“VACL”), which is a company related to the Company’s Chairman of the Board.  The Company owed nil to VACL related to rental charges as of March 31, 2020 and March 31, 2019.

During the twelve months ended March 31, 2020, the Company was billed approximately $6,000 and nil for the twelve months ended March 31, 2019 for its share of installation charges related to an air conditioning system, and purchase of protective materials for coronavirus from LSSL. The Company owed approximately $300 to LSSL related to these charges as at March 31, 2020 and nil as at March 31, 2019.