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Commitments and Contingencies
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12 Months Ended | |||||||||||||||||||||||||
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Mar. 31, 2012
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| Commitments and Contingencies [Abstract] | ||||||||||||||||||||||||||
| Commitments and Contingencies |
Note 8. Commitments and Contingencies
The Company has several non-cancelable operating leases, primarily for general office space, that expire over the next two years. We have no capital leases at this time. Future minimum lease payments under these leases are as follows:
Most leases provide for the Company to pay real estate taxes and other maintenance expenses. Rent expense for operating leases related to discontinued operations, net of sublease income, was $12 and $271, during the years ended March 31, 2012 and 2011, respectively. Rent expense for operating leases related to continuing operations, net of sublease income, was $60 and $34, during the years ended March 31, 2012 and 2011, respectively.
We maintain our headquarters, encompassing our executive office and storage areas in Petaluma, California. We have a primary lease for office space, consisting of 2,187 square feet, which expires in August of 2012. We rent storage/workspace areas on a monthly basis. Previously we had a primary lease which encompassed our executive office, manufacturing, engineering and research and development operations, in one leased 39,717 square foot facility in Petaluma, California. Our primary lease expired in September 2010, and we did not extend it further. We own all of the equipment used in our facilities. Such equipment consists primarily of computer related assets.
We also had a lease for research and development space in a facility in Annecy, France until it was taken over by SPTS as part of the asset sale of Tegal's DRIE etch business.
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