Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2019 | Jul. 15, 2019 | Sep. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | ADM TRONICS UNLIMITED, INC. | ||
Entity Central Index Key | 0000849401 | ||
Trading Symbol | admt | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 67,588,492 | ||
Entity Public Float | $ 11,490,044 | ||
Entity Shell Company | false | ||
Document Type | 10-K/A | ||
Document Period End Date | Mar. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | true | ||
Amendment Description | This Amendment No. 1 on Form 10-K/A ("Amendment No. 1") is being filed to amend our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 ("Original Form 10-K"), filed with the U.S. Securities and Exchange Commission on July 15, 2019 ("Original Filing Date"). The purpose of this Amendment No. 1 is to file the updated XBRL Exhibit that was not ready for filing when the original 10-K was filed. As required by the rules of the SEC, this Amendment No. 1 sets forth an amended "Item 15. Exhibits and Financial Statement Schedules" in its entirety. Except as described above, this Amendment No. 1 does not modify or update in any way the financial position, results of operations, cash flows or other disclosures in, or exhibits to, the Original Form 10-K, nor does it reflect events occurring after the filing of the Original Form 10-K. Accordingly, this Amendment No. 1 should be read in conjunction with the Original Form 10-K. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 1,555,687 | $ 1,693,532 |
Accounts receivable, net of allowance for doubtful accounts of $160,000 and $125,000 in 2019 and 2018 respectively | 916,844 | 877,403 |
Inventories | 326,308 | 201,023 |
Prepaid expenses and other current assets | 28,582 | 12,156 |
Total current assets | 2,827,421 | 2,784,114 |
Property and equipment, net of accumulated depreciation of $108,099 and $70,440 in 2019 and 2018, respectively | 95,461 | 133,120 |
Accounts receivable - related party | 330,090 | 330,090 |
Inventories - long-term portion | 85,457 | 111,051 |
Intangible assets, net of accumulated amortization of $12,035 and $10,639 in 2019 and 2018, respectively | 8,899 | 10,295 |
Other assets | 90,764 | 91,464 |
Deferred tax asset | 1,107,000 | 1,092,000 |
Total other assets | 1,717,671 | 1,768,020 |
Total assets | 4,545,092 | 4,552,134 |
Current liabilities: | ||
Capital lease payable | 31,196 | 31,196 |
Line of credit | 169,885 | |
Accounts payable | 275,591 | 286,964 |
Accrued expenses and other current liabilities | 150,549 | 149,382 |
Customer deposits | 321,441 | 122,167 |
Due to stockholder | 139,322 | 130,551 |
Total current liabilities | 1,087,984 | 720,260 |
Long-term liabilities | ||
Capital lease payable, net of current portion | 22,450 | 54,637 |
Total liabilities | 1,110,434 | 774,897 |
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 | (29,893,205) | (29,550,626) |
Total stockholders' equity | 3,434,658 | 3,777,237 |
Total liabilities and stockholders' equity | $ 4,545,092 | $ 4,552,134 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
Accounts receivable, allowance for doubtful accounts | $ 160,000 | $ 125,000 |
Property and equipment, accumulated depreciation | 108,099 | 70,440 |
Intangible assets, accumulated amortization | $ 12,035 | $ 10,639 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Common stock, authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, issued (in shares) | 67,588,492 | 67,588,492 |
Common stock, outstanding (in shares) | 67,588,492 | 67,588,492 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net revenues | $ 3,018,954 | $ 3,754,212 |
Cost of sales | 1,454,700 | 1,865,908 |
Gross Profit | 1,564,254 | 1,888,304 |
Operating expenses: | ||
Research and development | 673,855 | 527,659 |
Selling, general and administrative | 1,243,011 | 1,404,604 |
Depreciation and amortization | 22,108 | 22,229 |
Total operating expenses | 1,938,974 | 1,954,492 |
(Loss) from operations | (374,720) | (66,188) |
Other income (expense): | ||
Interest income | 26,948 | 17,632 |
Interest expense | (8,807) | (6,707) |
Total other income (expense) | 18,141 | 10,925 |
(Loss) before (provision for) benefit from income taxes | (356,579) | (55,263) |
(Provision for) benefit from income taxes: | ||
Current | (1,000) | (1,000) |
Deferred | 15,000 | 166,000 |
Total benefit (provision) for income taxes | 14,000 | 165,000 |
Net income (loss) | $ (342,579) | $ 109,737 |
Basic and diluted income (loss) per common share: (in dollars per share) | $ (0.01) | $ 0 |
Weighted average shares of common stock outstanding - basic (in shares) | 67,588,492 | 67,588,492 |
Weighted average shares of common stock outstanding - diluted (in shares) | 67,588,492 | 67,588,492 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Mar. 31, 2017 | 67,588,492 | |||
Balance at Mar. 31, 2017 | $ 33,794 | $ 33,294,069 | $ (29,660,363) | $ 3,667,500 |
Net income (loss) | 109,737 | 109,737 | ||
Balance (in shares) at Mar. 31, 2018 | 67,588,492 | |||
Balance at Mar. 31, 2018 | $ 33,794 | 33,294,069 | (29,550,626) | 3,777,237 |
Net income (loss) | (342,579) | (342,579) | ||
Balance (in shares) at Mar. 31, 2019 | 67,588,492 | |||
Balance at Mar. 31, 2019 | $ 33,794 | $ 33,294,069 | $ (29,893,205) | $ 3,434,658 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (342,579) | $ 109,737 |
Adjustments to reconcile net income (loss) to net cash (used in) operating activities: | ||
Depreciation and amortization | 39,055 | 39,273 |
Write-off of inventories | 131,089 | 312,830 |
Bad debt | 35,000 | 100,000 |
Deferred taxes | (15,000) | (166,000) |
(Increase) decrease in operating assets: | ||
Accounts receivable | (74,441) | (114,784) |
Accounts receivable - related party | (330,090) | |
Inventories | (230,780) | (198,497) |
Prepaid expenses and other current assets | (15,726) | 37,039 |
(Increase) decrease in operating liabilities: | ||
Accounts payable | (11,373) | 17,957 |
Customer deposits | 199,274 | (2,975) |
Accrued expenses and other current liabilities | 1,167 | 651 |
Due to stockholder | 8,771 | (65,011) |
Net cash provided by (used in) operating activities | (275,543) | (259,870) |
Cash flows from financing activities: | ||
Proceeds from line of credit | 386,000 | |
Repayments of line of credit | (216,115) | |
Repayments of capital lease payable | (32,187) | (28,874) |
Net cash provided by (used in) financing activities | 137,698 | (28,874) |
Net (decrease) in cash and cash equivalents | (137,845) | (288,744) |
Cash and cash equivalents - beginning of year | 1,693,532 | 1,982,276 |
Cash and cash equivalents - end of year | 1,555,687 | 1,693,532 |
Cash paid for: | ||
Interest | 8,807 | 6,707 |
Taxes |
Note 1 - Nature of Business
Note 1 - Nature of Business | 12 Months Ended |
Mar. 31, 2019 | |
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. Electronic equipment is manufactured in accordance with customer specifications on a contract basis. Our electronic device product line consists principally of proprietary devices used in diagnostics and therapeutics of humans and animals and electronic controllers for spas and hot tubs. These products are sold to customers located principally in the United States. We are registered with the FDA as a contract manufacturing facility and we manufacture medical devices for customers in accordance with their designs and specifications. Our chemical product line is principally comprised of water-based chemical products used in the food packaging and converting industries, and anti-static conductive paints, coatings and other products. These products are sold to customers located in the United States, Australia, Asia and Europe. We also provide research, development, regulatory and engineering services to customers. Our Sonotron Medical Systems, Inc. subsidiary (“Sonotron”) is involved in medical electronic therapeutic technology. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron (the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation. USE OF ESTIMATES These 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 deferred tax assets and related valuation allowance, write down of inventory, impairment of long lived assets, allowance for doubtful accounts, and warranty reserves. Actual amounts could differ from those estimates. FAIR VALUE OF FINANCIAL INSTRUMENTS For certain of our financial instruments, including accounts receivable, accounts payable, and accrued expenses, the carrying amounts approximate fair value due to their relatively short maturities. CASH AND CASH EQUIVALENTS Cash equivalents are comprised of certain highly liquid investments with original maturities of three may not $250,000 March 31, 2019, $1,390,000 ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable are stated at the amount management expects to collect from outstanding balances. The carrying amounts of accounts receivable is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not not March 31, 2019 $160,000, $125,000 March 31, 2018. REVENUE RECOGNITION 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, March 31, 2019 2018. CHEMICAL PRODUCTS: Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no 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 on a monthly basis over time as the applicable performance obligations are satisfied. All revenue is recognized net of discounts. WARRANTY LIABILITIES The Company’s provision for estimated future warranty costs is based upon historical relationship of warranty claims to sales. Based upon historical experience, the Company has concluded that no INVENTORIES Inventories are stated at the lower of cost ( first first one 1 not 1 PROPERTY AND EQUIPMENT We record our property and equipment at historical cost. We expense maintenance and repairs as incurred. Depreciation is provided for by the straight-line method over five seven INTANGIBLE ASSETS Intangible assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount may not ADVERTISING COSTS Advertising costs are expensed as incurred and amounted to $59,877 $62,297 March 31, 2019 2018, SHIPPING AND HANDLING COSTS Shipping and handling costs incurred for the years ended March 31, 2019 2018 $3,754 $2,904, INCOME TAXES We report the results of our operations as part of a consolidated Federal tax return with our subsidiary. Deferred income taxes result primarily from temporary differences between financial and tax reporting. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is recorded to reduce a deferred tax asset to that portion that is expected to more likely than not The Company has adopted the authoritative accounting guidance with respect to accounting for uncertainty in income taxes, which clarified the accounting and disclosures for uncertain tax positions related to income taxes recognized in the consolidated financial statements and addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not not 50 The Company files income tax returns in several jurisdictions. The Company’s tax returns remain subject to examination, by major jurisdiction, for the years ended March 31, Jurisdiction Fiscal Year Federal 2014 and beyond New Jersey 2013 and beyond There are currently no The Company will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of March 31, 2019 2018, no NET EARNINGS PER SHARE We compute basic earnings per share by dividing net income/loss by the weighted average number of common shares outstanding. 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. Common equivalent shares are excluded from the computation of net earnings per share if their effect is anti-dilutive. Per share basic and diluted income (loss) amounted to $( 0.01 $0.00 March 31, 2019 2018, RECLASSIFICATION Certain items in the prior financial statements have been reclassified to conform to the current year presentation. RECENT ACCOUNTING PRONOUNCEMENTS In February 2016, 2016 02, 842 12 April 2019. 2018 11, 842 not no not not April 1, 2019. $967,000 $967,000 April 1, 2019. Effective April 1, 2018 606 not not In June 2016, 2016 13 not December 15, 2019. In February 2018, 2018 02, 220 2017 December 15, 2018 not Management does not not |
Note 3 - Inventories
Note 3 - Inventories | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3 Inventories at March 31, 2019 Current Long Term Total Raw materials $ 273,039 $ 84,721 $ 357,760 Finished goods 53,269 736 54,005 Totals $ 326,308 $ 85,457 $ 411,765 Inventories at March 31, 2018 Current Long Term Total Raw materials $ 168,640 $ 110,433 $ 279,073 Finished goods 32,383 618 33,001 Totals $ 201,023 $ 111,051 $ 312,074 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 Property and equipment as of March 31, 2019 2018 2019 2018 Machinery and equipment $ 199,810 $ 199,810 Leasehold improvements 3,750 3,750 203,560 203,560 Accumulated depreciation and amortization (108,099 ) (70,440 ) Property and equipment, net $ 95,461 $ 133,120 Depreciation and amortization expense related to property and equipment amounted to $37,659 $37,878 March 31, 2019 2018, |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 5 Intangible assets are being amortized using the straight line method over periods ranging from 3 15 6 March 31, 2019 March 31, 2018 Cost Weighted Average Amortization Period (Years) Accumulated Amortization Net Carrying Amount Cost Weighted Average Amortization Period (Years) Accumulated Amortization Net Carrying Amount Patents & Trademarks $ 20,934 15 (12,035 ) $ 8,899 $ 20,934 15 (10,639 ) $ 10,295 Amortization expense was $1,396 March 31, 2019 2018. Estimated aggregate future amortization expense related to intangible assets is as follows: For the fiscal years ended March 31, 2020 $ 1,396 2021 1,396 2022 1,396 2023 1,396 2024 1,396 Thereafter 1,919 $ 8,899 |
Note 6 - Investment and Related
Note 6 - Investment and Related Party | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 6 INVESTMENT AND RELATED PARTY The Company has a $75,000 23.2% The Company has provided $330,090 March 31, 2018. $330,090 March 31, 2019. |
Note 7 - Line of Credit
Note 7 - Line of Credit | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 LINE OF CREDIT On June 15, 2018, $400,000. May 16, 2020, 5.37%. March 31, 2019, $169,885. |
Note 8 - Capital Leases
Note 8 - Capital Leases | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | NOTE 8 During September 2016 $129,000, March 31, 2019 $62,000. 2021. Future minimum lease payments under the above capital leases, as of March 31, 2019, For the Years Ending March 31, 2020 $ 35,000 2021 20,000 55,000 Less: 2,000 Present value of minimum lease payments 53,000 Less: 31,000 $ 22,000 |
Note 9 - Concentrations
Note 9 - Concentrations | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 9 During the year ended March 31, 2019, two 58% March 31, 2018, three 58% March 31, 2019, three 91% March 31, 2018, two 75% The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $364,418 12% March 31, 2019. $341,415 8.8% March 31, 2018. |
Note 10 - Segment Information
Note 10 - Segment Information | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 10 Information about segments is as follows: Chemical Electronic Engineering Total Year ended March 31, 2019 Revenue from customers $ 1,318,814 $ 730,634 $ 969,506 $ 3,018,954 Segment operating income (loss) $ (81,849 ) $ (403,099 ) $ 110,228 $ (374,720 ) Year ended March 31, 2018 Revenue from customers $ 1,391,522 $ 1,056,384 $ 1,306,306 $ 3,754,212 Segment operating income (loss) $ 34,611 $ (303,388 ) $ 202,589 $ (66,188 ) Total assets at March 31, 2019 $ 1,985,501 $ 1,099,983 $ 1,459,608 $ 4,545,092 Total assets at March 31, 2018 $ 1,687,276 $ 1,280,908 $ 1,583,950 $ 4,552,134 |
Note 11 - Disaggregated Net Rev
Note 11 - Disaggregated Net Revenues and Segment Information | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 11 The following tables show the Company's net revenues disaggregated by reportable segment and by product and service type: Twelve Months Ended March 31, 2019 2018 Net Revenue in the US Chemical $ 954,396 $ 1,075,107 Electronics 730,634 1,031,384 Engineering 969,506 1,306,306 $ 2,654,536 $ 3,412,797 Net Revenue outside the US Chemical 364,418 316,415 Electronics - 25,000 Engineering - - $ 364,418 $ 341,415 Total Net Revenues $ 3,018,954 $ 3,754,212 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 12 - INCOME TAXES At March 31, 2019, $2,200,000, 2034. may not not may Significant components of deferred tax assets are as follows as of March 31, 2019 2018: 2019 2018 Net operating loss carry-forward $ 637,000 $ 554,000 Stock based compensation - 196,000 Research & development tax credit carry-forward 429,000 495,000 Other 41,000 43,000 Valuation allowance - (196,000 ) Deferred tax asset, net $ 1,107,000 $ 1,092,000 The benefit from (provision) for income taxes for the years ended at March 31, 2019 2018 2019 2018 Statutory federal income tax rate 21% 31% Change in valuation allowance (17%) 263% Effective income tax rate 4% 294% |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 1 3 - COMMITMENTS AND CONTINGENCIES We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2028. March 31, 2019 For the twelve-month period ended March 31, Amount 2020 $ 101,875 2021 101,875 2022 101,875 2023 101,875 2024 105,625 Thereafter 454,219 $ 967,344 Rent and real estate tax expense for all facilities for the years ended March 31, 2019 2018 $132,000 $128,000, |
Note 14 - Stock Based Compensat
Note 14 - Stock Based Compensation | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 1 4 – STOCK BASED COMPENSATION 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 as of March 31, 2019 2018. 2019 2018 # of Shares Weighted # of Shares Weighted Average Average Exercise Exercise Price Price Outstanding, beginning of year 3,000,000 $ 0.20 3,000,000 $ 0.20 Issued - - - - Exercised - - - - Expired 3,000,000 - - - Outstanding, end of year - $ 0.00 3,000,000 $ 0.20 Exercisable, end of year - $ 0.00 3,000,000 $ 0.20 |
Note 15 - Legal Proceedings
Note 15 - Legal Proceedings | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | NOTE 1 5 – LEGAL PROCEEDINGS During September 2017, $33,000 $12,000 January 9, 2019 $15,000. |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 12 Months Ended |
Mar. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 1 6 – SUBSEQUENT EVENTS We evaluated all subsequent events from the date of the consolidated balance sheet through the issuance date of these consolidated financial statements and determined that there are no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron (the “Company”). All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES These 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 deferred tax assets and related valuation allowance, write down of inventory, impairment of long lived assets, allowance for doubtful accounts, and warranty reserves. Actual amounts could differ from those estimates. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | FAIR VALUE OF FINANCIAL INSTRUMENTS For certain of our financial instruments, including accounts receivable, accounts payable, and accrued expenses, the carrying amounts approximate fair value due to their relatively short maturities. |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH AND CASH EQUIVALENTS Cash equivalents are comprised of certain highly liquid investments with original maturities of three may not $250,000 March 31, 2019, $1,390,000 |
Receivable [Policy Text Block] | ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable are stated at the amount management expects to collect from outstanding balances. The carrying amounts of accounts receivable is reduced by a valuation allowance that reflects management's best estimate of the amounts that will not not March 31, 2019 $160,000, $125,000 March 31, 2018. |
Revenue [Policy Text Block] | REVENUE RECOGNITION 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, March 31, 2019 2018. CHEMICAL PRODUCTS: Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no 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 on a monthly basis over time as the applicable performance obligations are satisfied. All revenue is recognized net of discounts. |
Guarantees, Indemnifications and Warranties Policies [Policy Text Block] | WARRANTY LIABILITIES The Company’s provision for estimated future warranty costs is based upon historical relationship of warranty claims to sales. Based upon historical experience, the Company has concluded that no |
Inventory, Policy [Policy Text Block] | INVENTORIES Inventories are stated at the lower of cost ( first first one 1 not 1 |
Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY AND EQUIPMENT We record our property and equipment at historical cost. We expense maintenance and repairs as incurred. Depreciation is provided for by the straight-line method over five seven |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | INTANGIBLE ASSETS Intangible assets are reviewed for impairment whenever changes in circumstances indicate that the carrying amount may not |
Advertising Cost [Policy Text Block] | ADVERTISING COSTS Advertising costs are expensed as incurred and amounted to $59,877 $62,297 March 31, 2019 2018, |
Shipping And Handling Costs [Policy Text Block] | SHIPPING AND HANDLING COSTS Shipping and handling costs incurred for the years ended March 31, 2019 2018 $3,754 $2,904, |
Income Tax, Policy [Policy Text Block] | INCOME TAXES We report the results of our operations as part of a consolidated Federal tax return with our subsidiary. Deferred income taxes result primarily from temporary differences between financial and tax reporting. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is recorded to reduce a deferred tax asset to that portion that is expected to more likely than not The Company has adopted the authoritative accounting guidance with respect to accounting for uncertainty in income taxes, which clarified the accounting and disclosures for uncertain tax positions related to income taxes recognized in the consolidated financial statements and addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the consolidated financial statements. The Company recognizes the financial statement benefit of a tax position only after determining that the relevant tax authority would more likely than not not 50 The Company files income tax returns in several jurisdictions. The Company’s tax returns remain subject to examination, by major jurisdiction, for the years ended March 31, Jurisdiction Fiscal Year Federal 2014 and beyond New Jersey 2013 and beyond There are currently no The Company will recognize interest and penalties accrued on any unrecognized tax benefits as a component of income tax expense. As of March 31, 2019 2018, no |
Earnings Per Share, Policy [Policy Text Block] | NET EARNINGS PER SHARE We compute basic earnings per share by dividing net income/loss by the weighted average number of common shares outstanding. 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. Common equivalent shares are excluded from the computation of net earnings per share if their effect is anti-dilutive. Per share basic and diluted income (loss) amounted to $( 0.01 $0.00 March 31, 2019 2018, |
Reclassification, Policy [Policy Text Block] | RECLASSIFICATION Certain items in the prior financial statements have been reclassified to conform to the current year presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS In February 2016, 2016 02, 842 12 April 2019. 2018 11, 842 not no not not April 1, 2019. $967,000 $967,000 April 1, 2019. Effective April 1, 2018 606 not not In June 2016, 2016 13 not December 15, 2019. In February 2018, 2018 02, 220 2017 December 15, 2018 not Management does not not |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Summary of Income Tax Examinations [Table Text Block] | Jurisdiction Fiscal Year Federal 2014 and beyond New Jersey 2013 and beyond |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule Of Inventory [Table Text Block] | Current Long Term Total Raw materials $ 273,039 $ 84,721 $ 357,760 Finished goods 53,269 736 54,005 Totals $ 326,308 $ 85,457 $ 411,765 Current Long Term Total Raw materials $ 168,640 $ 110,433 $ 279,073 Finished goods 32,383 618 33,001 Totals $ 201,023 $ 111,051 $ 312,074 |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2019 2018 Machinery and equipment $ 199,810 $ 199,810 Leasehold improvements 3,750 3,750 203,560 203,560 Accumulated depreciation and amortization (108,099 ) (70,440 ) Property and equipment, net $ 95,461 $ 133,120 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | March 31, 2019 March 31, 2018 Cost Weighted Average Amortization Period (Years) Accumulated Amortization Net Carrying Amount Cost Weighted Average Amortization Period (Years) Accumulated Amortization Net Carrying Amount Patents & Trademarks $ 20,934 15 (12,035 ) $ 8,899 $ 20,934 15 (10,639 ) $ 10,295 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For the fiscal years ended March 31, 2020 $ 1,396 2021 1,396 2022 1,396 2023 1,396 2024 1,396 Thereafter 1,919 $ 8,899 |
Note 8 - Capital Leases (Tables
Note 8 - Capital Leases (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | For the Years Ending March 31, 2020 $ 35,000 2021 20,000 55,000 Less: 2,000 Present value of minimum lease payments 53,000 Less: 31,000 $ 22,000 |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Chemical Electronic Engineering Total Year ended March 31, 2019 Revenue from customers $ 1,318,814 $ 730,634 $ 969,506 $ 3,018,954 Segment operating income (loss) $ (81,849 ) $ (403,099 ) $ 110,228 $ (374,720 ) Year ended March 31, 2018 Revenue from customers $ 1,391,522 $ 1,056,384 $ 1,306,306 $ 3,754,212 Segment operating income (loss) $ 34,611 $ (303,388 ) $ 202,589 $ (66,188 ) Total assets at March 31, 2019 $ 1,985,501 $ 1,099,983 $ 1,459,608 $ 4,545,092 Total assets at March 31, 2018 $ 1,687,276 $ 1,280,908 $ 1,583,950 $ 4,552,134 |
Note 11 - Disaggregated Net R_2
Note 11 - Disaggregated Net Revenues and Segment Information (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Twelve Months Ended March 31, 2019 2018 Net Revenue in the US Chemical $ 954,396 $ 1,075,107 Electronics 730,634 1,031,384 Engineering 969,506 1,306,306 $ 2,654,536 $ 3,412,797 Net Revenue outside the US Chemical 364,418 316,415 Electronics - 25,000 Engineering - - $ 364,418 $ 341,415 Total Net Revenues $ 3,018,954 $ 3,754,212 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2019 2018 Net operating loss carry-forward $ 637,000 $ 554,000 Stock based compensation - 196,000 Research & development tax credit carry-forward 429,000 495,000 Other 41,000 43,000 Valuation allowance - (196,000 ) Deferred tax asset, net $ 1,107,000 $ 1,092,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2019 2018 Statutory federal income tax rate 21% 31% Change in valuation allowance (17%) 263% Effective income tax rate 4% 294% |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | For the twelve-month period ended March 31, Amount 2020 $ 101,875 2021 101,875 2022 101,875 2023 101,875 2024 105,625 Thereafter 454,219 $ 967,344 |
Note 14 - Stock Based Compens_2
Note 14 - Stock Based Compensation (Tables) | 12 Months Ended |
Mar. 31, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | 2019 2018 # of Shares Weighted # of Shares Weighted Average Average Exercise Exercise Price Price Outstanding, beginning of year 3,000,000 $ 0.20 3,000,000 $ 0.20 Issued - - - - Exercised - - - - Expired 3,000,000 - - - Outstanding, end of year - $ 0.00 3,000,000 $ 0.20 Exercisable, end of year - $ 0.00 3,000,000 $ 0.20 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | 17 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Sep. 01, 2018 | Apr. 01, 2019 | |
Cash, Uninsured Amount | $ 1,390,000 | |||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 160,000 | $ 125,000 | ||
Advertising Expense | 59,877 | 62,297 | ||
Shipping and Handling Costs | 3,754 | 2,904 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | ||
Earnings Per Share, Basic and Diluted, Total | $ (0.01) | $ 0 | $ 0 | |
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 967,000 | |||
Operating Lease, Liability, Noncurrent | $ 967,000 | |||
Maximum [Member] | ||||
Product Warranty Expense | $ 2,000 | $ 2,000 | ||
Property, Plant and Equipment, Useful Life | 7 years | |||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life | 5 years | |||
Electronic Products [Member] | ||||
Warranty Term | 90 days | |||
Electronic Controllers for Spas and Hot Tubs [Member] | ||||
Warranty Term | 5 years |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies - Income Tax Returns Jurisdictions Subject to Examination (Details) | 12 Months Ended |
Mar. 31, 2019 | |
Internal Revenue Service (IRS) [Member] | Domestic Tax Authority [Member] | |
Open tax years | 2014 2015 2016 2017 2018 |
New Jersey Division of Taxation [Member] | State and Local Jurisdiction [Member] | |
Open tax years | 2013 2014 2015 2016 2017 2018 |
Note 3 - Inventories - Summary
Note 3 - Inventories - Summary of Inventory (Details) - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
Raw materials | $ 357,760 | $ 279,073 |
Finished goods | 54,005 | 33,001 |
Totals | 411,765 | 312,074 |
Current [Member] | ||
Raw materials | 273,039 | 168,640 |
Finished goods | 53,269 | 32,383 |
Totals | 326,308 | 201,023 |
Long Term [Member | ||
Raw materials | 84,721 | 110,433 |
Finished goods | 736 | 618 |
Totals | $ 85,457 | $ 111,051 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Depreciation, Total | $ 37,659 | $ 37,878 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
Machinery and equipment | $ 199,810 | $ 199,810 |
Leasehold improvements | 3,750 | 3,750 |
203,560 | 203,560 | |
Accumulated depreciation and amortization | (108,099) | (70,440) |
Property and equipment, net | $ 95,461 | $ 133,120 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Finite-Lived Intangible Assets, Remaining Amortization Period | 6 years | |
Amortization of Intangible Assets, Total | $ 1,396 | $ 1,396 |
Minimum [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Maximum [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 15 years |
Note 5 - Intangible Assets - In
Note 5 - Intangible Assets - Intangible Assets (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Accumulated Amortization | $ (12,035) | $ (10,639) |
Net Carrying Amount | 8,899 | 10,295 |
Patents And Trademarks [Member] | ||
Cost | $ 20,934 | $ 20,934 |
Weighted Average Amortization Period (Year) | 15 years | 15 years |
Accumulated Amortization | $ (12,035) | $ (10,639) |
Net Carrying Amount | $ 8,899 | $ 10,295 |
Note 5 - Intangible Assets - Es
Note 5 - Intangible Assets - Estimated Aggregate Future Amortization Expense (Details) - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
2020 | $ 1,396 | |
2021 | 1,396 | |
2022 | 1,396 | |
2023 | 1,396 | |
2024 | 1,396 | |
Thereafter | 1,919 | |
$ 8,899 | $ 10,295 |
Note 6 - Investment and Relat_2
Note 6 - Investment and Related Party (Details Textual) - USD ($) | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2019 | |
Qol [Member] | ||
Due from Related Parties, Total | $ 330,090 | |
Qol [Member] | Engineering Services [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 330,090 | |
Qol [Member] | ||
Equity Method Investments | $ 75,000 | |
Equity Method Investment, Ownership Percentage | 23.20% |
Note 7 - Line of Credit (Detail
Note 7 - Line of Credit (Details Textual) - Revolving Credit Facility [Member] - USD ($) | Jun. 15, 2018 | Mar. 31, 2019 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 5.37% | |
Short-term Debt, Total | $ 169,885 | |
Line of Credit Facility, Expiration Date | May 16, 2020 |
Note 8 - Capital Leases (Detail
Note 8 - Capital Leases (Details Textual) - USD ($) | Mar. 31, 2019 | Sep. 30, 2016 |
Capital Leased Assets, Gross, Total | $ 129,000 | |
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | $ 62,000 |
Note 8 - Capital Leases - Futur
Note 8 - Capital Leases - Future Minimum Lease Payments Under Capital Leases (Details) - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
2020 | $ 35,000 | |
2021 | 20,000 | |
55,000 | ||
Less: Amount attributable to imputed interest | 2,000 | |
Present value of minimum lease payments | 53,000 | |
Less: Current maturities | 31,196 | $ 31,196 |
$ 22,450 | $ 54,637 |
Note 9 - Concentrations (Detail
Note 9 - Concentrations (Details Textual) | 12 Months Ended | |
Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | |
Revenue from Contract with Customer, Including Assessed Tax | $ 3,018,954 | $ 3,754,212 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customers [Member] | ||
Concentration Risk, Number of Customers | 2 | |
Concentration Risk, Percentage | 58.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Customers [Member] | ||
Concentration Risk, Number of Customers | 3 | |
Concentration Risk, Percentage | 58.00% | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Foreign Customers [Member] | ||
Concentration Risk, Percentage | 12.00% | 8.80% |
Revenue from Contract with Customer, Including Assessed Tax | $ 364,418 | $ 341,415 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | ||
Concentration Risk, Number of Customers | 2 | |
Concentration Risk, Percentage | 75.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member] | ||
Concentration Risk, Number of Customers | 3 | |
Concentration Risk, Percentage | 91.00% |
Note 10 - Segment Information -
Note 10 - Segment Information - Summary of Segment Information (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 3,018,954 | $ 3,754,212 |
Segment operating income (loss) | (374,720) | (66,188) |
Total assets | 4,545,092 | 4,552,134 |
Chemical [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,318,814 | 1,391,522 |
Segment operating income (loss) | (81,849) | 34,611 |
Total assets | 1,985,501 | 1,687,276 |
Electronics [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 730,634 | 1,056,384 |
Segment operating income (loss) | (403,099) | (303,388) |
Total assets | 1,099,983 | 1,280,908 |
Engineering [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 969,506 | 1,306,306 |
Segment operating income (loss) | 110,228 | 202,589 |
Total assets | $ 1,459,608 | $ 1,583,950 |
Note 11 - Disaggregated Net R_3
Note 11 - Disaggregated Net Revenues and Segment Information - Net Revenue, Classified by Geography (Details) - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Net revenues | $ 3,018,954 | $ 3,754,212 |
Chemical [Member] | ||
Net revenues | 1,318,814 | 1,391,522 |
Electronics [Member] | ||
Net revenues | 730,634 | 1,056,384 |
Engineering [Member] | ||
Net revenues | 969,506 | 1,306,306 |
UNITED STATES | ||
Net revenues | 2,654,536 | 3,412,797 |
UNITED STATES | Chemical [Member] | ||
Net revenues | 954,396 | 1,075,107 |
UNITED STATES | Electronics [Member] | ||
Net revenues | 730,634 | 1,031,384 |
UNITED STATES | Engineering [Member] | ||
Net revenues | 969,506 | 1,306,306 |
Non-US [Member] | ||
Net revenues | 364,418 | 341,415 |
Non-US [Member] | Chemical [Member] | ||
Net revenues | 364,418 | 316,415 |
Non-US [Member] | Electronics [Member] | ||
Net revenues | 25,000 | |
Non-US [Member] | Engineering [Member] | ||
Net revenues |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2018 | |
Operating Loss Carryforwards, Total | $ 2,034 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 2,018 |
Note 12 - Income Taxes - Signif
Note 12 - Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) | Mar. 31, 2019 | Mar. 31, 2018 |
Net operating loss carry-forward | $ 637,000 | $ 554,000 |
Stock based compensation | 196,000 | |
Research & development tax credit carry-forward | 429,000 | 495,000 |
Other | 41,000 | 43,000 |
Valuation allowance | (196,000) | |
Deferred tax asset, net | $ 1,107,000 | $ 1,092,000 |
Note 12 - Income Taxes - Provis
Note 12 - Income Taxes - Provision for Income Taxes (Details) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Statutory federal income tax rate | 21.00% | 31.00% |
Change in valuation allowance | (17.00%) | 263.00% |
Effective income tax rate | 4.00% | 294.00% |
Note 13 - Commitments and Con_3
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Operating Leases, Rent Expense, Total | $ 132,000 | $ 128,000 |
Note 13 - Commitments and Con_4
Note 13 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Mar. 31, 2019USD ($) |
2020 | $ 101,875 |
2021 | 101,875 |
2022 | 101,875 |
2023 | 101,875 |
2024 | 105,625 |
Thereafter | 454,219 |
$ 967,344 |
Note 14 - Stock Based Compens_3
Note 14 - Stock Based Compensation (Details Textual) - USD ($) | Sep. 02, 2015 | Mar. 31, 2019 | Mar. 31, 2018 |
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, Expiration Period | 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 Term | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note 14 - Stock Based Compens_4
Note 14 - Stock Based Compensation - Summary of Stock Option Activity (Details) - $ / shares | Sep. 02, 2015 | Mar. 31, 2019 | Mar. 31, 2018 |
Outstanding, beginning of year (in shares) | 3,000,000 | 3,000,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.20 | $ 0.20 | |
Issued (in shares) | 3,000,000 | ||
Issued, weighted average exercise price (in dollars per share) | $ 0.20 | ||
Exercised (in shares) | |||
Exercised, weighted average exercise price (in dollars per share) | |||
Expired (in shares) | 3,000,000 | ||
Expired, weighted average exercise price (in dollars per share) | |||
Outstanding, end of year (in shares) | 3,000,000 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 0 | $ 0.20 | |
Exercisable, end of year (in shares) | 3,000,000 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 0 | $ 0.20 |
Note 15 - Legal Proceedings (De
Note 15 - Legal Proceedings (Details Textual) - USD ($) | Jan. 09, 2019 | Sep. 30, 2017 |
Vendor Claiming Non Payment For Services [Member] | ||
Loss Contingency, Damages Sought, Value | $ 33,000 | |
Litigation Settlement, Amount Awarded to Other Party | $ 15,000 | |
Countersuit By ADM Tronics [Member] | ||
Loss Contingency, Damages Sought, Value | $ 12,000 |