Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Jun. 30, 2017 | Aug. 21, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | ADM TRONICS UNLIMITED, INC. | |
Entity Central Index Key | 849,401 | |
Trading Symbol | admt | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 67,588,492 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 1,750,323 | $ 1,982,276 |
Accounts receivable, net of allowance for doubtful accounts of $25,000 | 1,028,234 | 862,619 |
Inventories | 486,649 | 369,796 |
Prepaid expenses and other current assets | 18,505 | 35,752 |
Total current assets | 3,283,711 | 3,250,443 |
Property and equipment, net of accumulated depreciation of $43,436 and $32,562, respectively | 160,124 | 170,998 |
Inventories - long-term portion | 20,331 | 56,611 |
Intangible assets, net of accumulated amortization of $9,593 and $9,244, respectively | 11,341 | 11,690 |
Other assets | 92,644 | 104,907 |
Deferred tax asset | 851,000 | 926,000 |
Total other assets | 1,135,440 | 1,270,206 |
Total assets | 4,419,151 | 4,520,649 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Capital lease payable | 31,196 | 30,895 |
Accounts payable | 175,183 | 269,007 |
Accrued expenses and other current liabilities | 141,770 | 148,731 |
Customer deposits | 125,142 | 125,142 |
Due to stockholder | 107,699 | 195,562 |
Total current liabilities | 580,990 | 769,337 |
Capital lease payable, net of current portion | 78,778 | 83,812 |
Total liabilities | 659,768 | 853,149 |
Stockholders' equity: | ||
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding | ||
Common stock, $0.0005 par value; 150,000,000 shares authorized, 67,588,492 shares issued and outstanding | 33,794 | 33,794 |
Additional paid-in capital | 33,294,069 | 33,294,069 |
Accumulated deficit | (29,568,480) | (29,660,363) |
Total stockholders' equity | 3,759,383 | 3,667,500 |
Total liabilities and stockholders' equity | $ 4,419,151 | $ 4,520,649 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Allowance for doubtful accounts | $ 25,000 | $ 25,000 |
Property and equipment, accumulated depreciation | 43,436 | 32,562 |
Intangible assets, accumulated amortization | $ 9,593 | $ 9,244 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 67,588,492 | 67,588,492 |
Common stock, shares outstanding (in shares) | 67,588,492 | 67,588,492 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Net revenues | $ 1,146,355 | $ 1,377,431 |
Cost of sales | 456,545 | 508,324 |
Gross Profit | 689,810 | 869,107 |
Operating expenses: | ||
Research and development | 149,957 | 20,401 |
Selling, general and administrative | 364,371 | 326,210 |
Depreciation and amortization | 7,491 | 1,452 |
Total operating expenses | 521,819 | 348,063 |
Income from operations | 167,991 | 521,044 |
Other income (expense): | ||
Interest income | 1,620 | 698 |
Interest expense | (728) | (512) |
Total other income (expense) | 892 | 186 |
Income before provision for income taxes | 168,883 | 521,230 |
Provision for income taxes: | ||
Current | 2,000 | |
Deferred | 75,000 | |
Total provision for income taxes | 77,000 | |
Net income | $ 91,883 | $ 521,230 |
Basic and diluted earnings per common share: (in dollars per share) | $ 0 | $ 0.01 |
Weighted average shares of common stock outstanding - basic (in shares) | 67,588,492 | 67,008,502 |
Weighted average shares of common stock outstanding - diluted (in shares) | 67,588,492 | 67,008,502 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 91,883 | $ 521,230 |
Depreciation and amortization | 11,223 | 2,410 |
Deferred taxes | 75,000 | |
Changes in operating assets and liabilities balances: | ||
Accounts receivable | (165,615) | (95,760) |
Inventories | (80,573) | (80,712) |
Prepaid expenses and other current assets | 29,511 | (9,717) |
Accounts payable | (93,824) | (78,699) |
Accrued expenses and other current liabilities | (6,962) | 64,418 |
Due to shareholder | (87,863) | 14,256 |
Net cash provided by (used in) operating activities | (227,220) | 337,426 |
Cash flows from investing activities: | ||
Purchase of equipment | (4,970) | |
Restricted cash | (87) | |
Net cash provided by (used in) investing activities | (5,057) | |
Cash flows (used) in financing activities: | ||
Repayments on notes payable | (6,000) | |
Repayments on capital lease payable | (4,733) | |
Net cash (used in) financing activities | (4,733) | (6,000) |
Net (decrease) increase in cash and cash equivalents | (231,953) | 326,369 |
Cash and cash equivalents - beginning of period | 1,982,276 | 1,398,848 |
Cash and cash equivalents - end of period | 1,750,323 | 1,725,217 |
Cash paid for: | ||
Interest | $ 728 | $ 512 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 ADM Tronics Unlimited, Inc. ("we", "us", the “Company" or "ADM"), was incorporated under the laws of the state of Delaware on November 24, 1969. The accompanying unaudited condensed consolidated financial statements have been prepared by ADM pursuant to generally accepted accounting principles in the United States and the rules and regulations of the Securities and Exchange Commission (“SEC”) including Form 10 X. March 31, 2017 10 three June 30, 2017 ( not March 31, 2018. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 PRINCIPLES OF CONSOLIDATION The condensed consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation. USE OF ESTIMATES These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our medical devices, reserves, deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others, option and warrant expenses related to compensation to employees and directors, consultants and investment banks, allowance for doubtful accounts, and warranty reserves. Actual results could differ from those estimates. REVENUE RECOGNITION CHEMICAL PRODUCTS: Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no ELECTRONICS: We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 5 no no $2,000 three June 30, 2017 2016. ENGINEERING SERVICES: We provide certain engineering services, including research, development, quality control, and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided. EARNINGS PER SHARE Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share is computed similar to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Per share basic and diluted earnings amounted to $0.00 $0.01 three June 30, 2017 2016, 3,000,000 3,600,000 June 30, 2017 2016, RECLASSIFICATION Certain items in the prior financial statements have been reclassified to conform to the current period presentation. RECENT ACCOUNTING PRONOUNCEMENTS Management is still evaluating the impact of recently issued, but not not |
Note 3 - Inventories
Note 3 - Inventories | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3 Inventories at June 30, 2017 Current Long Term Total Raw materials $ 479,875 $ 20,331 $ 500,206 Finished goods 6,774 - 6,774 $ 486,649 $ 20,331 $ 506,980 Inventories at March 31, 2017 Current Long Term Total Raw materials $ 338,443 $ 56,611 $ 395,054 Finished goods 31,353 - 31,353 $ 369,796 $ 56,611 $ 426,407 The Company values its inventories at the first first |
Note 4 - Concentrations
Note 4 - Concentrations | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 4 During the three June 30, 2017, two 60% During the three June 30, 2016, one 57% As of June 30, 2017, one 78% As of March 31, 2017, one 83% The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $68,381 6.0% three June 30, 2017 $88,849 6.4% three June 30, 2016. As of June 30, 2017, March 31, 2017, $1,690 $48,213, |
Note 5 - Segment Information
Note 5 - Segment Information | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 5 Information about segments is as follows: Chemical Electronics Engineering Total Three months ended June 30, 2017 Revenue from external customers $ 308,355 $ 493,592 $ 344,408 $ 1,146,355 Segment operating income $ 65,446 $ 42,646 $ 59,899 $ 167,991 Three months ended June 30, 2016 Revenue from external customers $ 291,484 $ 566,623 $ 519,324 $ 1,377,431 Segment operating income $ (1,009 ) $ 280,107 $ 241,946 $ 521,044 Total assets at June 30, 2017 $ 1,188,698 $ 1,902,775 $ 1,327,678 $ 4,419,151 Total assets at March 31, 2017 $ 1,110,111 $ 1,553,484 $ 1,857,054 $ 4,520,649 |
Note 6 - Options Outstanding
Note 6 - Options Outstanding | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 6 - OPTIONS OUTSTANDING On September 2, 2015, 3,000,000 $0.20 three $598,699 2.03%, 353%, 3 0%. The following table summarizes information on all common share purchase options issued by us for the periods ended June 30, 2017 March 31, 2017. June 30, 2017 March 31, 2017 # of Shares Weighted Average Exercise Price # of Shares Weighted Average Exercise Price Outstanding, beginning of period 3,000,000 $ 0.20 3,000,000 $ 0.20 Issued - $ - - $ - Exercised - $ - - $ - Expired - $ - - $ - Outstanding, end of period 3,000,000 $ 0.20 3,000,000 $ 0.20 Exercisable, end of period 3,000,000 $ 0.20 3,000,000 $ 0.20 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 7 - COMMITMENTS AND CONTINGENCIES We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2019. June 30, 2017 For the twelve months ended June 30, Period Per year 2018 $ 104,625 $ 104,625 Rent and real estate tax expense for all facilities for the three June 30, 2017 2016 $32,000 On December 2, 2016, $85,680, $6,930 forty-eight 48 forty-eight $1,785. June 30, 2017, $67,266. On December 2, 2016, $54,710, $4,710 forty-eight 48 forty-eight $1,139. June 30, 2017, $42,708. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8 - INCOME TAXES At June 30, 2017, $2,101,000, 2034. may not not may The Company provides a partial valuation allowance for the deferred tax asset resulting from the uncertainty that the stock-based compensation will be deductible. During the three June 30, 2017, $187,000 $2,101,000 The effective rates were approximately 41% 6% three June 30, 2017 2016, 2016 |
Note 9 - Due to Stockholder
Note 9 - Due to Stockholder | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Compensation Related Costs, General [Text Block] | NOTE 9 – DUE TO STOCKHOLDER The Company’s President has been deferring his salary and bonuses periodically to assist the Company’s cash flow. There are no |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 3 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 1 0 – SUBSEQUENT EVENTS We evaluated all subsequent events from the date of the condensed consolidated balance sheet through the issuance date and determined that there are no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The condensed consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our medical devices, reserves, deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others, option and warrant expenses related to compensation to employees and directors, consultants and investment banks, allowance for doubtful accounts, and warranty reserves. Actual results could differ from those estimates. |
Revenue Recognition, Policy [Policy Text Block] | REVENUE RECOGNITION CHEMICAL PRODUCTS: Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no ELECTRONICS: We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 5 no no $2,000 three June 30, 2017 2016. ENGINEERING SERVICES: We provide certain engineering services, including research, development, quality control, and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided. |
Earnings Per Share, Policy [Policy Text Block] | EARNINGS PER SHARE Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share is computed similar to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Per share basic and diluted earnings amounted to $0.00 $0.01 three June 30, 2017 2016, 3,000,000 3,600,000 June 30, 2017 2016, |
Reclassification, Policy [Policy Text Block] | RECLASSIFICATION Certain items in the prior financial statements have been reclassified to conform to the current period presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS Management is still evaluating the impact of recently issued, but not not |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule Of Inventory [Table Text Block] | Current Long Term Total Raw materials $ 479,875 $ 20,331 $ 500,206 Finished goods 6,774 - 6,774 $ 486,649 $ 20,331 $ 506,980 Current Long Term Total Raw materials $ 338,443 $ 56,611 $ 395,054 Finished goods 31,353 - 31,353 $ 369,796 $ 56,611 $ 426,407 |
Note 5 - Segment Information (T
Note 5 - Segment Information (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Chemical Electronics Engineering Total Three months ended June 30, 2017 Revenue from external customers $ 308,355 $ 493,592 $ 344,408 $ 1,146,355 Segment operating income $ 65,446 $ 42,646 $ 59,899 $ 167,991 Three months ended June 30, 2016 Revenue from external customers $ 291,484 $ 566,623 $ 519,324 $ 1,377,431 Segment operating income $ (1,009 ) $ 280,107 $ 241,946 $ 521,044 Total assets at June 30, 2017 $ 1,188,698 $ 1,902,775 $ 1,327,678 $ 4,419,151 Total assets at March 31, 2017 $ 1,110,111 $ 1,553,484 $ 1,857,054 $ 4,520,649 |
Note 6 - Options Outstanding (T
Note 6 - Options Outstanding (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | June 30, 2017 March 31, 2017 # of Shares Weighted Average Exercise Price # of Shares Weighted Average Exercise Price Outstanding, beginning of period 3,000,000 $ 0.20 3,000,000 $ 0.20 Issued - $ - - $ - Exercised - $ - - $ - Expired - $ - - $ - Outstanding, end of period 3,000,000 $ 0.20 3,000,000 $ 0.20 Exercisable, end of period 3,000,000 $ 0.20 3,000,000 $ 0.20 |
Note 7 - Commitments and Cont20
Note 7 - Commitments and Contingencies (Tables) | 3 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | For the twelve months ended June 30, Period Per year 2018 $ 104,625 $ 104,625 |
Note 2 - Significant Accounti21
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Earnings Per Share, Basic and Diluted | $ 0 | $ 0.01 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,000,000 | 3,600,000 |
Maximum [Member] | ||
Product Warranty Expense | $ 2,000 | $ 2,000 |
Electronic Products [Member] | ||
Warranty Term | 90 days | |
Electronic Controllers for Spas and Hot Tubs [Member] | ||
Warranty Term | 5 years |
Note 3 - Inventories - Summary
Note 3 - Inventories - Summary of Inventory (Details) - USD ($) | Jun. 30, 2017 | Mar. 31, 2017 |
Raw materials | $ 500,206 | $ 395,054 |
Finished Goods | 6,774 | 31,353 |
Total | 506,980 | 426,407 |
Current [Member] | ||
Raw materials | 479,875 | 338,443 |
Finished Goods | 6,774 | 31,353 |
Total | 486,649 | 369,796 |
Long Term [Member | ||
Raw materials | 20,331 | 56,611 |
Finished Goods | ||
Total | $ 20,331 | $ 56,611 |
Note 4 - Concentrations (Detail
Note 4 - Concentrations (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016 | Mar. 31, 2017USD ($) | |
Revenues | $ 1,146,355 | $ 1,377,431 | ||
Accounts Receivable, Net, Current | 1,028,234 | $ 862,619 | ||
Foreign Customers [Member] | ||||
Accounts Receivable, Net, Current | $ 1,690 | $ 48,213 | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||
Concentration Risk, Number of Customers | 2 | 1 | ||
Concentration Risk, Percentage | 60.00% | 57.00% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Customers [Member] | ||||
Concentration Risk, Percentage | 6.00% | 6.40% | ||
Revenues | $ 68,381 | $ 88,849 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||
Concentration Risk, Number of Customers | 1 | 1 | ||
Concentration Risk, Percentage | 78.00% | 83.00% |
Note 5 - Segment Information -
Note 5 - Segment Information - Summary of Segment Information (Details) - USD ($) | 3 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | |
Revenues | $ 1,146,355 | $ 1,377,431 | |
Segment operating income | 167,991 | 521,044 | |
Total assets | 4,419,151 | $ 4,520,649 | |
Chemical [Member] | |||
Revenues | 308,355 | 291,484 | |
Segment operating income | 65,446 | (1,009) | |
Total assets | 1,188,698 | 1,110,111 | |
Electronics [Member] | |||
Revenues | 493,592 | 566,623 | |
Segment operating income | 42,646 | 280,107 | |
Total assets | 1,902,775 | 1,553,484 | |
Engineering [Member] | |||
Revenues | 344,408 | 519,324 | |
Segment operating income | 59,899 | $ 241,946 | |
Total assets | $ 1,327,678 | $ 1,857,054 |
Note 6 - Options Outstanding (D
Note 6 - Options Outstanding (Details Textual) - USD ($) | Sep. 02, 2015 | Jun. 30, 2017 | Mar. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,000,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.20 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 598,699 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.03% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 353.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note 6 - Options Outstanding -
Note 6 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares | Sep. 02, 2015 | Jun. 30, 2017 | Mar. 31, 2017 |
Outstanding, beginning of period (in shares) | 3,000,000 | 3,000,000 | |
Outstanding, beginning of period (in dollars per share) | $ 0.20 | $ 0.20 | |
Outstanding, end of period (in dollars per share) | $ 0.20 | $ 0.20 | |
Exercisable, end of period (in shares) | 3,000,000 | 3,000,000 | |
Exercisable, end of period (in dollars per share) | $ 0.20 | $ 0.20 | |
Issued (in dollars per share) | $ 0.20 | ||
Issued (in shares) | 3,000,000 | ||
Exercised (in shares) | |||
Exercised (in dollars per share) | |||
Expired (in shares) | |||
Expired (in dollars per share) | |||
Outstanding, end of period (in shares) | 3,000,000 | 3,000,000 |
Note 7 - Commitments and Cont27
Note 7 - Commitments and Contingencies (Details Textual) | Dec. 02, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) |
Operating Leases, Rent Expense | $ 32,000 | $ 32,000 | |
Capital Lease Agreement One [Member] | |||
Debt Instrument, Periodic Payment | $ 1,785 | ||
Capital Lease Obligations | 67,266 | ||
Capital Lease Obligations, Gross | 85,680 | ||
Capital Lease Obligations, Deferred Interest | $ 6,930 | ||
Debt Instrument, Term | 4 years | ||
Capital Lease Obligations, Number of Installments | 48 | ||
Capital Lease Agreement Two [Member] | |||
Debt Instrument, Periodic Payment | $ 1,139 | ||
Capital Lease Obligations | $ 42,708 | ||
Capital Lease Obligations, Gross | 54,710 | ||
Capital Lease Obligations, Deferred Interest | $ 4,710 | ||
Debt Instrument, Term | 4 years | ||
Capital Lease Obligations, Number of Installments | 48 |
Note 7 - Commitments and Cont28
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Jun. 30, 2017USD ($) |
2,018 | $ 104,625 |
Total | $ 104,625 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Loss Carryforwards | $ 2,101,000 | |
Operating Loss Carry-Forward, Amount Utilized | 187,000 | |
Operating Loss Carry-Forward, Expected Utilization Amount | $ 2,101,000 | |
Effective Income Tax Rate Reconciliation, Percent | 41.00% | (6.00%) |
Note 9 - Due to Stockholder (De
Note 9 - Due to Stockholder (Details Textual) $ in Thousands | Dec. 31, 2016USD ($) |
Deferred Compensation Liability, Interest Accrued | $ 0 |