Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

(in thousands)

September 30, 2019

Balance Sheet Classification

ROU assets

Right-of-use assets on operating leases, net

Current operating lease liability

Accrued expenses

Leases (Tables)

6 Months Ended

Sep. 30, 2019

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Future minimum lease payments as of September 30, 2019, consisted of the following (in thousands):



Fiscal Year	Operating Leases
2020 ⁽¹⁾	$	307
2021 ⁽²⁾	354
Thereafter	—
Total lease payments	661
Less: imputed interest	(20		)
Total operating lease liabilities	$	641

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⁽¹⁾ Represents the future minimum operating lease payments expected to be made over the remaining balance of the fiscal year.

⁽²⁾ The Company currently occupies office space under operating leases, with various expiration dates through September 30, 2020.

Lease, Cost [Table Text Block]

The components of lease expense are as follows:



(in thousands)	Three months ended September 30, 2019		Six months ended September 30, 2019
Operating lease expense	$	204	$	408
Variable lease expense ⁽¹⁾	23		63
Total lease expense ⁽²⁾	$	227	$	471

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⁽¹⁾ Variable lease expense is related to our leased real estate in Ohio and New Hampshire and primarily includes labor and operational costs as well as taxes and insurance.

⁽²⁾ Short-term lease expense is immaterial.

ScheduleOfClassificationOfRightOfUseAssetsAndLeaseLiabilities [Table Text Block]

The following table summarizes the classification of ROU assets and lease liabilities as of September 30, 2019: