Subsequent Events
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12 Months Ended |
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Mar. 31, 2014
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Subsequent Events [Abstract] | |
Subsequent Events |
Note 14. Subsequent Events
As of March 31, 2014, the Company’s investment in Convertible Promissory Note consisted solely of the investment in NanoVibronix. That note bears interest at a rate of 10% per year compounded annually and matures on November 15, 2014. Interest is accrued and recognized quarterly. As of March 31, 2014, the Convertible Promissory Note balance was $378, consisting of the original $300 investment and $78 in accrued interest. NanoVibronix has filed a registration statement with the Securities and Exchange Commission in connection with a proposed initial public offering. If the offering is completed, the Convertible Promissory Note will be converted into common stock of NanoVibronix. Should NanoVibronix, Inc. become a public company, then the Company’s Chief Executive Officer will become a member of the NanoVibronix, Inc. Board of Directors.
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