Quarterly report pursuant to Section 13 or 15(d)

ROYALTY AGREEMENT

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ROYALTY AGREEMENT
9 Months Ended
Dec. 31, 2016
Royalty Agreement [Abstract]  
Royalty Agreement [Text Block]
12.
ROYALTY AGREEMENT
 
Prior to the acquisition of IMT in April 2012, IMT entered into a Patent License Agreement with an unrelated third party (the “Licensee”). Under the terms of the perpetual license agreement, the Company will receive royalties from the Licensee based on a licensed product sold by the Licensee. There was no royalty income during the three and nine-month periods ended December 31, 2016 and 2015 under the terms of the agreement.