|6 Months Ended|
Sep. 30, 2020
NOTE 9 — LEASE OBLIGATIONS
The tables below show the initial measurement of the operating lease right-of-use assets and liabilities as of April 1, 2020 and the balances as of September 30, 2020, including the changes during the periods:
As of September 30, 2020, the Company’s operating leases have a weighted-average remaining lease term of 2.1 years and a weighted-average discount rate of 8.9%.
Total lease expense was approximately $86,000 and $84,000, respectively, for the three month periods ended September 30, 2020 and 2019, and approximately $173,000 for each of the six month periods ended September 30, 2020 and 2019. Lease expense was recorded in cost of product sales, general and administrative expenses, research and development and sales and marketing expenses.
The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.
Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef