Note 9 - Leases

3 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Lessee, Operating and Finance Leases [Text Block]

NOTE 9 – LEASES

We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on  June 30, 2028. The following is a maturity analysis of the annual undiscounted cash flows of the operating lease liabilities as of June 30, 2021: 

For the Years Ending June 30,
2022	$	101,875
2023		101,875
2024		106,875
2025		106,875
2026		106,875
Thereafter		213,750
		738,125
Less: Amount attributable to imputed interest		(117,489	)
Net liability at June 30, 2021	$	620,636
Weighted average remaining lease term (in years)		7.0
Weighted average discount rate		5.00	%

Rent and real estate tax expense for all facilities for the three months ended  June 30, 2021 and 2020 was approximately $23,000 and $18,000, respectively, and are reported as a component of cost of sales and selling, general and administrative expenses in the accompanying consolidated statements of operations.