Annual report pursuant to Section 13 and 15(d)

Leases, Codification Topic 842 (Tables)

Leases, Codification Topic 842 (Tables)

12 Months Ended

Mar. 31, 2021

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

The following table presents future minimum lease payments as of March 31, 2021 (in thousands):


Fiscal Year	Operating Leases
2022	$	540
2023	587
2024	593
2025	604
2026	276
Thereafter	—
Total lease payments	2,600
Less: imputed interest	(254)
Total operating lease liabilities as of March 31, 2021	$	2,346

Lease, Cost {Table Text Block]

The components of lease expense are as follows:


(in thousands)	Twelve months ended March 31, 2021		Twelve months ended March 31, 2020
Operating lease expense	$	600	$	800
Variable lease expense (1)	141		97
Total lease expense (2)	$	741	$	897

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(1) Variable lease expense is related to our leased real estate in Illinois, 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 {TableTextBlock]

The following table summarizes the classification of ROU assets and lease liabilities as of March 31, 2021 and March 31, 2020:


(in thousands)	March 31, 2021		March 31, 2020		Balance Sheet Classification
Assets:
ROU assets	2,448		628		Right-of-use assets on operating leases, net
Liabilities:
Current operating lease liability	450		339		Accrued expenses
Non-current operating lease liabilities	1,896		250		Other non-current liabilities
Total lease liabilities	$	2,346	$	589