Transition report pursuant to Rule 13a-10 or 15d-10

Leases (Tables)

v3.21.1
Leases (Tables)
9 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Operating Lease Right of Use Assets and Operating Lease Liabilities

The tables below show the operating lease right-of-use assets and operating lease liabilities as of initial measurement at April 1, 2020 and the balances as of December 31, 2020, including the changes during the periods:

 

    Operating lease
right-of-use assets
 
Initial measurement at April 1, 2020:   $ 663,110  
Less deferred rent allowance     (77,597 )
Net right-of-use assets at April 1, 2020     585,513  
Less amortization of operating lease right-of-use assets     (154,718 )
Operating lease right-of-use assets at December 31, 2020   $ 430,795  

 

   

Operating lease

liabilities

 
Initial measurement at April 1, 2020:   $ 663,110  
Less principal payments on operating lease liabilities     (171,545 )
Operating lease liabilities at December 31, 2020     491,565  
Less non-current portion     236,826  
Current portion at December 31, 2020   $ 254,739  
Schedule of Maturities of Operating Lease Liabilities

As of December 31, 2020, the maturities of operating lease liabilities are as follows:

 

Year Ending December 31,   Amount  
2021   $ 288,355  
2022     246,650  
Total     535,005  
Less present value discount     (43,440 )
Operating lease liabilities   $ 491,565