Commitments and Contingencies

12 Months Ended

Mar. 31, 2013

Commitments and Contingencies

3.  COMMITMENTS AND CONTINGENCIES

The Company is obligated under noncancelable operating leases for its Longview, Texas and Humble, Texas office buildings, which expire April 30, 2013 and December 31, 2016, respectively. On March 27, 2013, the Company renewed its operating lease for its Longview, Texas office building. The renewed lease provides for an annual rental payment by the Company of $32,736 and runs from May 1, 2013 to April 30, 2018. The following is a schedule of future minimum annual rental payments for the next five years required under these operating leases as of March 31, 2013:

2014	$	70,341
2015		70,562
2016		70,562
2017		61,106
2018		32,736
Total	$	305,307

Rental expenses for leased properties were approximately $67,900 and $44,500 during fiscal 2013 and 2012, respectively.