Quarterly report pursuant to Section 13 or 15(d)

7. COMMITMENTS AND CONTINGENT LIABILITIES (Tables)

v3.5.0.2
7. COMMITMENTS AND CONTINGENT LIABILITIES (Tables)
 6 Months Ended
Sep. 30, 2016
Commitments And Contingent Liabilities Tables  
Commitments and contingencies

  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(1) 1,912,943 1,912,943(2)                 -                 -                 -
Office lease(3)  21,560  14,373         7,187               -              -
   TOTAL $   8,555,126 $  8,547,939 $        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 shareholders 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.