Quarterly report pursuant to Section 13 or 15(d)

Warranty Provision

v3.19.3
Warranty Provision
6 Months Ended
Sep. 30, 2019
Product Warranty Accrual, Balance Sheet Classification [Abstract]  
Warranty provision

9. Warranty provision

 

During the three and six months ended September 30, 2019, the Company recorded a non-cash warranty provision of $1,162,879 and $1,238,653, respectively. The provision is established to pro-actively monitor, perform maintenance and improvements, and to assess the product performance and reliability under various conditions. Product warranty will be recorded at the time of sale and revised based on new information as a history of system performance data becomes available.

 

A summary of the changes in the warranty provision for the six month periods is shown below:

 

    $  
       
Balance, March 31, 2018      
         
Provision for warranty     121,345  
         
Balance, March 31, 2019     121,345  
         
Provision for warranty     1,238,653  
         
Balance, September 30, 2019     1,359,998