Commitments and Contingencies

12 Months Ended

Mar. 31, 2013

Commitments and Contingencies [Abstract]

Commitments and Contingencies

NOTE 9. COMMITMENTS AND CONTINGENCIES
     Lease payments were $259,823 for fiscal 2013, $253,740 for fiscal 2012, and $245,220 for fiscal 2011. The operating lease for our facility expires December 31, 2020. We pay operating expenses including maintenance, utilities, real estate taxes, and insurance in addition to rental payments. We also lease a piece of office equipment under an operating lease expiring July 2014 with payments due quarterly. Our future minimum lease payments are shown in the following table:
 

Year Ending March 31
2014		2015		2016		2017		2018		2019		2020		2021		Total
$	266,496	$	269,269	$	271,938	$	272,953	$	277,012		281,124	$	285,396	$	216,451	$	2,140,639

    On February 24, 2012, Everspin filed a patent infringement lawsuit against us in the U.S. District Court for the Minnesota District alleging certain NVE products infringe on two patents purported to be owned by Everspin. The lawsuit seeks an injunction and compensation. While the ultimate results of this matter cannot be predicted with certainty, we do not expect it to have a material adverse effect on our financial statements.