Nordicus Partners (NORD) 10-Q 17 Feb 15 2015 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	9 Months Ended
	Dec. 31, 2014	Feb. 17, 2015	Sep. 30, 2014
Document and Entity Information:
Entity Registrant Name	Advansource Biomaterials Corp
Document Type	10-Q
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Entity Central Index Key	1011060
Current Fiscal Year End Date	-28
Entity Common Stock, Shares Outstanding		21,490,621
Entity Public Float			$852,417
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3

Condensed_Balance_Sheets

Condensed Balance Sheets (USD $)	Dec. 31, 2014		Mar. 31, 2014
In Thousands, unless otherwise specified
Current assets
Cash	$11		$268
Accounts receivable-trade, net	257	[1]	122	[2]
Accounts receivable-other	77		73
Inventories, net	272		181
Prepaid expenses and other current assets	3		3
Total current assets	620		647
Property, plant and equipment, net	2,018		2,110
Deferred financing costs, net	81		86
Other assets	47		47
Total assets	2,766		2,890
Current liabilities
Accounts payable	298		231
Accrued expenses	478		243
Customer advance	77
Notes payable	50		50
Capital lease obligation	13
Deferred revenue	65		105
Total current liabilities	981		629
Long-term liabilities
Long-term financing obligation	1,986		1,986
Accrued interest on financing obligation	144		136
Total long-term liabilities	2,130		2,122
Total liabilities	3,111		2,751
Commitments and contingencies
Stockholders' equity
Preferred stock		[3]		[4]
Common stock	21	[5]	21	[6]
Additional paid-in capital	38,059		38,050
Accumulated deficit	-38,395		-37,902
Treasury stock	-30	[7]	-30	[8]
Total stockholders' equity	-345		139
Total liabilities and stockholders' equity	$2,766		$2,890
[1]	Net of allowance of $5 as of 12/31/2014.
[2]	Net of allowance of $5 as 3/31/2014.
[3]	$.001 par value, 5,000,000 shares authorized; no shares issued and outstanding as of 12/31/2014.
[4]	$.001 par value, 5,000,000 shares authorized; no shares issued and outstanding as of 3/31/2014.
[5]	$.001 par value, 50,000,000 shares authorized; 21,567,313 shares issued and 21,490,621 shares outstanding as of 12/31/2014.
[6]	$.001 par value, 50,000,000 shares authorized; 21,567,313 shares issued and 21,490,621 shares outstanding as of 3/31/2014.
[7]	76,692 shares at cost at 12/31/2014.
[8]	76,692 shares at cost at 3/31/2014.

Condensed_Statements_of_Operat

Condensed Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Revenues
Product sales	$355	$425	$1,020	$1,145
License, royalty and development fees	142	260	652	603
Total revenues	497	685	1,672	1,748
Cost of sales	182	168	620	551
Gross profit	315	517	1,052	1,197
Operating expenses
Research, development and regulatory	84	90	277	298
Selling, general and administrative	325	342	981	1,080
Total operating expenses	409	432	1,258	1,378
Income (loss) from operations	-94	85	-206	-181
Interest and other expenses
Interest expense	91	88	287	271
Other income		-44		-45
Total interest and other expense	91	44	287	226
Net income (loss)	($185)	$41	($493)	($407)
Net income (loss) per common share, basic and diluted	($0.01)	$0	($0.02)	($0.02)
Shares used in computing net income (loss) per common share, basic	21,491	21,491	21,491	21,491
Shares used in computing net income (loss) per common share, diluted	21,491	21,491	21,491	21,491

Condensed_Statements_of_Cash_F

Condensed Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities
Net income (loss)	($493)	($407)
Adjustments to reconcile net loss to net cash flows used in operating activities:
Depreciation	105	137
Amoritization of deferred financing costs	5	5
Provision for inventory reserve	25
Stock-based compensation	9	35
Gain on sale of equipment		-36
Changes in assets and liabilities:
(Increase) decrease in accounts receivable-trade	-135	-16
(Increase) decrease in accounts receivable-other	-4	126
(Increase) decrease in inventories	-116	-120
(Increase) decrease in prepaid expenses and other current assets		-10
Increase (decrease) in accounts payable	67	-28
Increase (decrease) in accrued expenses	243	76
Increase (decrease) in customer advance	77
Increase (decrease) in deferred revenue	-40	138
Net cash flows provided by (used in) operating activities	-257	-100
Cash flows from investing activities
Sale of equipment		45
Increase in other assets		-10
Net cash flows provided by (used in) investing activities		35
Cash flows from financing activities
Proceeds from issuance of promissory note		100
Repayment of related party payable		-30
Net cash flows provided by (used in) financing activities		70
Net change in cash	-257	5
Cash at beginning of period	268	103
Cash at end of period	11	108
Supplemental disclosures of cash flow information
Interest paid	196	210
Purchase of equipment on capital lease	$13

Description_of_Business

Description of Business	9 Months Ended
	Dec. 31, 2014
Notes
Description of Business	1.      Description of Business
	AdvanSource Biomaterials Corporation develops advanced polymer materials which provide critical characteristics in the design and development of medical devices. Our biomaterials are used in devices that are designed for treating a broad range of anatomical sites and disease states. Our business model leverages our proprietary materials science technology and manufacturing expertise in order to expand product sales and royalty and license fee income.
	Our technology, notably products such as ChronoFlex®, HydroMed , and HydroThane , which have been developed to overcome a wide range of design and functional challenges, such as the need for dimensional stability, ease of manufacture and demanding physical properties to overcoming environmental stress cracking and providing heightened lubricity for ease of insertion. Our new product extensions customize proprietary polymers for specific customer applications in a wide range of device categories.
	Our corporate, development and manufacturing operations are located in our leased facility in Wilmington, Massachusetts.

Interim_Financial_Statements_a

Interim Financial Statements and Basis of Presentation	9 Months Ended
	Dec. 31, 2014
Notes
Interim Financial Statements and Basis of Presentation	2.Interim Financial Statements and Basis of Presentation
	The accompanying unaudited condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, these unaudited condensed financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments (consisting only of normal recurring adjustments), which we consider necessary, for a fair presentation of those financial statements. The results of operations and cash flows for the three and nine months ended 12/31/2014 may not necessarily be indicative of results that may be expected for any succeeding quarter or for the entire fiscal year. The information contained in this quarterly report on Form 10-Q should be read in conjunction with our audited financial statements included in our annual report on Form 10-K as of and for the year ended 3/31/2014 as filed with the Securities and Exchange Commission (the “SEC”).
	Our significant accounting policies are described in Note B to the consolidated financial statements included in Item 8 of our annual report on Form 10-K as of 3/31/2014.
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and judgments, which are evaluated on an ongoing basis, and that affect the amounts reported in our unaudited condensed financial statements and accompanying notes. Management bases its estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the amounts of revenues and expenses that are not readily apparent from other sources. Actual results could differ from those estimates and judgments. In particular, significant estimates and judgments include those related to revenue recognition, allowance for doubtful accounts, inventory reserves, useful lives and valuation of property and equipment.

New_Accounting_Pronouncements

New Accounting Pronouncements	9 Months Ended
	Dec. 31, 2014
Notes
New Accounting Pronouncements	3.New Accounting Pronouncement
	We have evaluated all issued but not effective accounting pronouncements and determined that, other than the following,  they are either immaterial or not relevant to us.
	In June 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board jointly issued an exposure draft (“ED”), Revenue from Contracts with Customers. The ED was released by the FASB as a proposed Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers”. The update gives entities a single comprehensive model to use in reporting information about the amount and timing of revenue resulting from contracts to provide goods or services to customers. The proposed ASU, which would apply to any entity that enters into contracts to provide goods or services, would supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance throughout the Industry Topics of the Codification. Additionally, the update would supersede some cost guidance included in Subtopic 605-35, Revenue Recognition – Construction-Type and Production-Type Contracts. The update removes inconsistencies and weaknesses in revenue requirements and provides a more robust framework for addressing revenue issues and more useful information to users of financial statements through improved disclosure requirements. In addition, the update improves comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets and simplifies the preparation of financial statements by reducing the number of requirements to which an entity must refer. The update is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. It is not anticipated that this updated guidance will have a material impact on our results of operations, cash flows or financial condition.
	In August 2014, the FASB issued Accounting Standards Update “ASU” 2014-15 on “Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern”. Currently, there is no guidance in U.S. GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern or to provide related footnote disclosures. The amendments in this Update provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this Update are effective for public and nonpublic entities for annual periods ending after December 15, 2016. Early adoption is permitted. It is not anticipated that this guidance will have a material impact on our results of operations, cash flows or financial condition.

Related_Party_Transactions

Related Party Transactions	9 Months Ended
	Dec. 31, 2014
Notes
Related Party Transactions	4.Related Party Transactions
	On 8/22/2013, Mr. Adams, our Chief Executive Officer, and David Volpe, our former Chief Financial Officer, participated along with three independent investors (collectively, the “Investors”) in an aggregate financing resulting in the issuance of $100,000 in promissory notes (see Note 11).  Messrs. Adams and Volpe each contributed approximately $13,000 in cash. In addition to the promissory notes, Messrs. Adams and Volpe also received warrants entitling them to exercise said warrants in 54,375 shares of our common stock at an exercise price of $0.075 per share (see Note 9). As of 12/31/2014 and 3/31/2014, the principle balance of the promissory notes was $50,000 in the aggregate, of which $12,500 in the aggregate was due to Messrs. Adams and Volpe.  All warrants issued in connection with this transaction expired on 8/21 2014.

StockBased_Compensation

Stock-Based Compensation	9 Months Ended
	Dec. 31, 2014
Notes
Stock-Based Compensation	5.Equity-Based Compensation
	Our 1996 Employee, Director and Consultants Stock Option Plan (the “1996 Plan”) was approved by the Board of Directors and Stockholders in March 1996. A total of 7,000,000 shares were reserved for issuance under the 1996 Plan. Under the terms of the 1996 Plan, the exercise price of Incentive Stock Options issued under the 1996 Plan must be equal to the fair market value of the common stock at the date of grant. In the event that Non Qualified Options are granted under the 1996 Plan, the exercise price may be less than the fair market value of the common stock at the time of the grant (but not less than par value). In October 2003, our shareholders approved the 2003 Stock Option Plan (the “2003 Plan”), which authorizes the issuance of 3,000,000 shares of common stock with terms similar to the 1996 Plan. In January 2006, we filed Form S-8 with the SEC registering an additional 489,920 total shares of common stock in the 1996 Plan and 2003 Plan. Total shares of common stock registered under the 1996 Plan and 2003 Plan (collectively, the “Plans”) are 10,489,920. Substantially all of the stock options granted pursuant to the 1996 Plan provide for the acceleration of vesting of the shares of common stock subject to such options in connection with certain changes in our control. A similar provision is not included in the 2003 Plan. Options granted expire ten years from the grant date. As of September 30, 2013, all Plans and shares not granted expired. As of 12/31/2014, there are no other equity incentive plans in place for the future issuance of our common stock.
	Activity under the Plans for the nine months ended 12/31/2014 is as follows:
		Options Outstanding	Weighted-Average Exercise Price per Share	Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
					(in thousands)
	Options outstanding as of 4/1/ 2014	2,615,750	$0.66
	Granted	-	-
	Exercised	-	-
	Cancelled or forfeited	-150,000	1.74
	Options outstanding as of 12/31/2014 (unaudited)	2,465,750	0.6	4.46	$-
	Options exercisable as of 12/31/2014 (unaudited)	2,127,625	0.68	3.79	$-
	Options vested or expected to vest as of 12/31/2014 (unaudited)	2,465,750	0.609	4.46	$-
	Our unaudited condensed statements of operations include equity-based compensation expense related to our stock option plans for employee and non-employee director awards in the amount of $2,000 and $4,000 for the three months ended 12/31/2014 and 12/31/2013, respectively; and $9,000 and $25,000 for the nine months ended 12/31/2014 and 12/31/2013, respectively. There was no income tax benefit related to these costs. As of 12/31/2014, the total amount of unrecognized equity-based compensation expense was approximately $17,000 which will be recognized over a weighted average period of 1.67 years.

Inventories

Inventories	9 Months Ended
	Dec. 31, 2014
Notes
Inventories	6.Inventories
	Inventories, net, are stated at the lower of cost (first in, first out) or market and consist of the following:
	(in thousands)	12/31/14	3/31/14
		(unaudited)
	Raw materials	$113	$120
	Work in progress	50	52
	Finished goods	332	243
		495	415
	Less: allowance for obsolete and excess inventory	-223	-234
	Total inventories, net	$272	$181
	During the three months ended December 31, 2014, we allowed a significant customer to return certain polymer products which were sold and shipped in a prior year (the “Returned Goods”) and paid for by the significant customer in a prior year. As a result, the significant customer was issued a credit in the amount of the selling price of the polymer products, which was approximately $127,000. Accordingly, we recorded a current liability in the approximate amount of $127,000, as an effective sales/credit discount to the future sales to this significant customer. Such sales credit is included in accrued expenses in our condensed balance sheet as of December 31, 2014. We also recorded a sales allowance of $127,000 with respect to the Returned Goods, which is recorded in product sales in our statement of operations for the three and nine months ended December 31, 2014. It is expected that we will ship products to eliminate the sales discount to this significant customer before our fiscal year ending March 31, 2015.
	The inventory cost of the Returned Goods was approximately $25,000 and was recorded as an increase to our finished goods inventory as of December 31, 2014. Based on managements’ review of the Returned Goods, we concluded the likelihood of selling a large amount of the Returned Goods within the near term was not determinable. Accordingly, an additional allowance for the excess inventory of approximately $25,000 was recorded as of December 31, 2014.
	We have no history of having allowed for a product return prior to this date and we have not changed our policy for future returns by customers once the customer has accepted delivery of the product..

Property_Plant_and_Equipment

Property, Plant and Equipment	9 Months Ended
	Dec. 31, 2014
Notes
Property, Plant and Equipment	7.      Property, Plant and Equipment
	Property, plant and equipment consists of the following:
	(in thousands)	12/31/14	3/31/14
		(unaudited)
	Land	$500	$500
	Building	2,705	2,705
	Machinery, equipment and tooling	1,214	1,214
	Furniture, fixtures and office equipment	285	285
	Office equipment under capital lease	13	-
		4,717	4,704
	Less:  accumulated depreciation	-2,699	-2,594
		$2,018	$2,110
	For the three months ended 12/31/2014 and 12/31/2013, depreciation expense was $22,000 and $446,000, respectively. For the nine months ended 12/31/2014 and 12/31/2013, depreciation expense was $105,000 and $137,000, respectively.

Loss_Per_Share

Loss Per Share	9 Months Ended
	Dec. 31, 2014
Notes
Loss Per Share	8.Income (Loss) Per Share
	Basic loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per common share are based upon the weighted-average common shares outstanding during the period plus additional weighted-average common equivalent shares outstanding during the period. Common equivalent shares result from the assumed exercise of outstanding stock options and warrants, the proceeds of which are then assumed to have been used to repurchase outstanding common stock using the treasury stock method. In addition, the numerator is adjusted for any changes in loss that would result from the assumed conversion of potential shares. At 12/31/2014 and 12/31/2013, potentially dilutive shares of 2,685,048 and 3,270,048 , respectively, were excluded from the diluted loss per share calculations because their effect would be antidilutive or the options exercise prices were greater than the average market price of the common shares. Shares deemed to be antidilutive include stock options and warrants issuable upon exercise.

Stockholders_Equity

Stockholders' Equity	9 Months Ended
	Dec. 31, 2014
Notes
Stockholders' Equity	9.Stockholders’ Equity
	Common Stock and Warrants
	On 3/31/2008, we issued warrants to purchase 219,298 shares of our common stock in connection with the disposition of one of our subsidiaries. These warrants are exercisable at a price of $0.874 per share and expire on March 31, 2015. At 12/31/2014 and 3/31/2014, all of these warrants were outstanding.
	On 8/22/ 2013, we entered into Promissory Notes in the aggregate principal amount of $100,000 (the “Notes”) with three shareholders and our chief executive officer and chief financial officer (the “Investors”). The Notes have a six-month term, bear interest at the rate of 1.75% per month and all principal and accrued interest, if any, is due and payable on or before 2/21/2014. In lieu of cash payment of interest, the Investors chose to receive Warrants exercisable into an aggregate 435,000 shares of our common stock. The Warrants have a one-year term and are exercisable at a 150% premium over the closing price of our common stock as of 8/21/2013, or $0.075 per share. The Notes are secured by accounts receivable from certain customers. These warrants expired on 8/21/2014 and there were no warrants outstanding in connection with this transaction as of 12/31/2014.
	Employee Stock Purchase Plan
	There were no shares of our common stock issued pursuant to the Employee Stock Purchase Plan (the “ESP Plan”) as of 12/31/2014 as all 500,000 shares authorized under the ESP Plan have been issued.

Income_Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2014
Notes
Income Taxes	10.Income Taxes
	The provision for income taxes includes federal, state, local and foreign taxes. Income taxes are accounted for under the liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences of temporary differences between the financial statement carrying amounts and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which the temporary differences are expected to be recovered or settled. We evaluate the realizability of our deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of deferred tax assets will not be realized. A valuation allowance has been recorded to offset all deferred tax assets due to uncertainty of realizing the tax benefits of the underlying operating loss and tax credit carry forwards over their carry forward periods. We have no significant deferred tax liabilities as of 12/31/2014 and 3/31/2014.
	We account for uncertain tax positions using a “more-likely-than-not” threshold for recognizing and resolving uncertain tax positions. The evaluation of uncertain tax positions is based on factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, new audit activity and changes in facts or circumstances related to a tax position. We evaluate this tax position on a quarterly basis. We also accrue for potential interest and penalties, if applicable, related to unrecognized tax benefits in income tax expense. As of 12/31/2014 and 3/31/2014, we had no material unrecognized tax benefits and no adjustments to liabilities or operations were required.

Notes_Payable

Notes Payable	9 Months Ended
	Dec. 31, 2014
Notes
Notes Payable	11.Notes Payable
	On 8/22/2013, we entered into Promissory Notes in the aggregate principal amount of $100,000 (the “Notes”) with three shareholders and our chief executive officer and chief financial officer (the “Investors”). The Notes have a six-month term, bear interest at the rate of 1.75% per month and all principal and accrued interest, if any, is due and payable on or before 2/21/2014. In lieu of cash payment of interest, the Investors chose to receive Warrants exercisable into an aggregate 435,000 shares of our common stock. The Warrants have a one-year term and are exercisable at a 150% premium over the closing price of our common stock as of 8/21/2013, or $0.075 per share (see Note 9). The Notes are secured by accounts receivable from certain customers.
	As of 12/31/2014, the principle balance of $50,000 remained outstanding and the Investors waived any event of default with respect to repayment of the Notes through 7/2/2015. In addition, the Promissory Notes provided for the accrual of additional interest at the rate of 2.0% per month. During the three and nine months ended 12/31/2014, we recorded interest expense of approximately $3,000 and $9,000, respectively, with respect to the Notes. As of 12/31/2014, accrued interest of approximately $11,000 was recorded and is included in accrued expenses in the condensed balance sheet.
	These warrants expired on 8/21/2014 and there were no warrants outstanding in connection with this transaction as of 12/31/2014.

Longterm_Financing_Obligation

Long-term Financing Obligation	9 Months Ended
	Dec. 31, 2014
Notes
Long-term Financing Obligation	12.   Long-Term Financing Obligation
	On 12/22/2011, we entered into an agreement with an independent third-party under which we sold and leased back our land and building generating gross proceeds of $2,000,000. Pursuant to a lease agreement, the initial minimum lease term is 15 years. At the end of the initial minimum lease term, we have the option to renew the lease for three periods of five years each. In addition, we provided, as collateral, a security interest in all furnishings, fixtures and equipment owned and used by us, having a net book value of approximately $28,000 as of 12/31/2014. For accounting purposes, the provision of such collateral constitutes continuing involvement with the associated property. Due to this continuing involvement, this sale-leaseback transaction is accounted for under the financing method, rather than as a completed sale. Under the financing method, we include the sales proceeds received as a financing obligation. As of 12/31/2014 and 3/31/2014, the total financing obligation was $1,986,000, respectively, and accrued interest on financing obligation was $144,000 and $136,000, respectively. Through December 2018, interest on the financing obligation exceeds the minimum lease payments, accordingly the principal remains constant through that date. After December 2018, the minimum lease payment will exceed interest and principal will be reduced by the excess of minimum lease payment over interest. The building, building improvements and land remain on the condensed balance sheet and the building and building improvements will continue to be depreciated over their remaining useful lives. Payments made under the lease are applied as payments of imputed interest and deemed principal on the underlying financing obligation.

Contingencies

Contingencies	9 Months Ended
	Dec. 31, 2014
Notes
Contingencies	13.Contingencies
	We are not a party to any legal proceedings, other than ordinary routine litigation incidental to our business, which we believe will not have a material affect on our financial position or results of operations.

Concentrations_of_Credit_Risk_

Concentrations of Credit Risk and Major Customers	9 Months Ended
	Dec. 31, 2014
Notes
Concentrations of Credit Risk and Major Customers	14.Concentrations of Credit Risk and Major Customers
	For the three months ended 12/31/2014, three customers represented 64% of our total revenues. For the three months ended 12/31/2013, three customers represented 72% of our total revenues.
	For the nine months ended 12/31/2014, three customers represented 54% of our total revenues. For the nine months ended 12/31/2013, three customers represented 71% of our total revenues.
	As of 12/31/2014, we had accounts receivable-trade, net, of $216,000, or 84%, due from two customers. As of 3/31/2014, we had accounts receivable-trade, net, of $72,000, or 59%, due from three customers.
	As of 12/31/2014, we had $77,000 due from two customers related to receivables on royalties, license and annual usage fees. As of 3/31/2014, we had $73,000 due from two customers related to receivables on royalties, license and annual usage fees. These amounts are classified as accounts receivable-other in the accompanying condensed balance sheets.
	During the three and nine months ended 12/31/2014 and 12/31/2013, we received approximately $78,000 from one major customer as a deposit on product to be shipped subsequent to 12/31/2014. The deposit was recorded as customer advance in the condensed balance sheet.

Subsequent_Events

Subsequent Events	9 Months Ended
	Dec. 31, 2014
Notes
Subsequent Events	15.Subsequent Events
	We evaluated all events or transactions that occurred after the balance sheet date through the date when we issued these unaudited condensed financial statements. During this period, we did not have any material recognizable subsequent events.

Interim_Financial_Statements_a1

Interim Financial Statements and Basis of Presentation: Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2014
Policies
Significant Accounting Policies	Our significant accounting policies are described in Note B to the consolidated financial statements included in Item 8 of our annual report on Form 10-K as of 3/31/2014.

StockBased_Compensation_Schedu

Stock-Based Compensation: Schedule of Share-Based Compensation Activity (Tables)	9 Months Ended
	Dec. 31, 2014
Tables/Schedules
Schedule of Share-Based Compensation Activity		Options Outstanding	Weighted-Average Exercise Price per Share	Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
					(in thousands)
	Options outstanding as of 4/1/ 2014	2,615,750	$0.66
	Granted	-	-
	Exercised	-	-
	Cancelled or forfeited	-150,000	1.74
	Options outstanding as of 12/31/2014 (unaudited)	2,465,750	0.6	4.46	$-
	Options exercisable as of 12/31/2014 (unaudited)	2,127,625	0.68	3.79	$-
	Options vested or expected to vest as of 12/31/2014 (unaudited)	2,465,750	0.609	4.46	$-

Property_Plant_and_Equipment_P

Property, Plant and Equipment: Property, Plant and Equipment (Tables)	9 Months Ended
	Dec. 31, 2014
Tables/Schedules
Property, Plant and Equipment	(in thousands)	12/31/14	3/31/14
		(unaudited)
	Land	$500	$500
	Building	2,705	2,705
	Machinery, equipment and tooling	1,214	1,214
	Furniture, fixtures and office equipment	285	285
	Office equipment under capital lease	13	-
		4,717	4,704
	Less:  accumulated depreciation	-2,699	-2,594
		$2,018	$2,110

StockBased_Compensation_Schedu1

Stock-Based Compensation: Schedule of Share-Based Compensation Activity (Details) (Employee Stock Option, USD $)	9 Months Ended
	Dec. 31, 2014
Employee Stock Option
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	1.74
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	2,615,750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$0.66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period	-150,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	2,465,750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$0.60
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$4.46
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number	2,127,625
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$0.68
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	3.79
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	2,465,750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$0.61
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value	$4.46

StockBased_Compensation_Detail

Stock-Based Compensation (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013
Details
Share-based Compensation	$2,000	$4,000	$9,000	$25,000

Inventories_Details

Inventories (Details) (USD $)	Dec. 31, 2014
Details
Inventory, Raw Materials, Net of Reserves	$120
Inventory, Work in Process, Net of Reserves	52
Inventory, Finished Goods, Net of Reserves	243
Inventory Valuation Reserves	($234)

Property_Plant_and_Equipment_P1

Property, Plant and Equipment: Property, Plant and Equipment (Details) (USD $)	Dec. 31, 2014	Mar. 31, 2014
Details
Land	$500	$500
Buildings and Improvements, Gross	2,705	2,705
Machinery and Equipment, Gross	1,214	1,214
Furniture and Fixtures, Gross	285	285
Debt and Capital Lease Obligations	13
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	-2,699	-2,594
Property, plant and equipment, net	$2,018,000	$2,110,000

Stockholders_Equity_Details

Stockholders' Equity (Details)	Dec. 31, 2014	Mar. 31, 2014
Details
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	219,298	219,298

Notes_Payable_Details

Notes Payable (Details) (Loans Payable, USD $)	0 Months Ended
	Feb. 21, 2014	Dec. 31, 2014	Aug. 22, 2013
Loans Payable
Loans Payable		$50,000	$100,000
Debt Instrument, Interest Rate at Period End		1.75%	1.75%
Debt Instrument, Maturity Date	21-Feb-14

Longterm_Financing_Obligation_

Long-term Financing Obligation (Details) (USD $)	0 Months Ended
	Dec. 22, 2011	Dec. 31, 2014	Mar. 31, 2014	Dec. 22, 2011
Details
Sale Leaseback Transaction, Date	12/22/11
Long Lived Assets Held-for-sale, Proceeds from Sale				$2,000,000
Interest Portion of Minimum Lease Payments, Sale Leaseback Transactions		$144,000	$136,000

Concentrations_of_Credit_Risk_1

Concentrations of Credit Risk and Major Customers (Details) (USD $)	3 Months Ended		9 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Details
Concentration Risk, Percentage	64.00%	72.00%	54.00%	71.00%
Fair Value, Concentration of Risk, Accounts Receivable	$216,000		$216,000		$72,000
Accrued Fees and Other Revenue Receivable	$77,000		$77,000		$73,000