Annual report pursuant to Section 13 and 15(d)

Note 12 - Commitments and Contingencies

v3.19.2
Note 12 - Commitments and Contingencies
 12 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
N
ote
1
2
– Commitments and Contingencies
 
Total rent expense was
$1.7
million and
$1.6
million during fiscal years
2019
and
2018,
respectively. The Company’s commitment for minimum guaranteed rental payments under its lease agreements as of
March 31, 2019
is
$1.9
million, consisting of
$1.4
million,
$497,000
and
$42,000
due in fiscal years
2020,
2021
and
2022,
respectively.
 
Total royalty expense was
$5.2
million and
$7.2
million for fiscal years
2019
and
2018,
respectively. The Company’s commitment for minimum guaranteed royalty payments under its license agreements as of
March 31, 2019
is
$3.2
million, consisting of
$2.5
million,
$549,000
and
$147,000
due in fiscal years
2020,
2021
and
2022,
respectively.
 
The Company is, from time to time, involved in various legal proceedings relating to claims arising in the ordinary course of its business. Neither the Company nor any of its subsidiaries is a party to any such legal proceeding the outcome of which, individually or in the aggregate, is expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows.