Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingent Liabilities

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Commitments and Contingent Liabilities
 9 Months Ended
Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingent Liabilities

The table below shows approximate lease commitments and other contingent liabilities of the Company as of December 31, 2018:

 

    Total   Less than 1 year   1-3 years   3-5 years     More than 
5 years
Operating Leases:                                      
Office Leases(1)   $ 6,654     $ 3,882     $ 2,772     $ -     $ -
Total Operating Leases   $ 6,654     $ 3,882     $ 2,772     $ -     $ -

 

(1) The Company has number of lease agreements for office spaces in different locations. In general, all agreements are made for a one-year period with extension or termination provisions, except three lease agreements with longer lease terms.

 

The Company’s rent expense for office space was $1,474 and $818 for the three months ended December 31, 2018 and 2017, respectively. The Company’s rent expense for office space was $3,692 and $1,647 for the nine months ended December 31, 2018 and 2017, respectively.