|
The Company had the following significant commitments and contingencies
as of March 31, 2016:
| |
Payments Due By Period |
| Contractual obligations |
Total |
Less than 1 year |
2-3 years |
4-5 years |
After 5 years |
| Initial cash distribution payable(1) |
$ 6,620,623 |
$ 6,620,623(2) |
$ - |
$ - |
$ - |
| Second cash distribution payable(2) |
1,912,943 |
1,912,943(2) |
- |
- |
- |
| Office lease(3) |
35,934 |
28,747 |
7,187 |
- |
- |
| TOTAL |
$ 8,569,500 |
$ 8,562,313 |
$ 7,187 |
$ - |
$ - |
| |
|
|
|
|
|
| (1) |
See Note 4 – Shareholders’ Equity for additional information regarding the initial cash distribution payable and the second cash distribution payable. |
| (2) |
These distributions are currently payable, subject to the entitled shareholder completing and submitting to the Company the necessary documentation to claim his, her or its distribution payments. The Company has no control over when, or if, an entitled shareholder will submit the necessary documentation to claim his, her, or its distribution payment. |
| (3) |
FFIN entered into a lease agreement on January 1, 2015 for office space that expires in June 2017. |
As of March 31, 2016 and March 31, 2015 the Company did not have
any known contingencies.
|