Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2017 | Jan. 12, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | NVE CORP /NEW/ | |
Entity Central Index Key | 724,910 | |
Trading Symbol | nvec | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 4,842,010 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Balance Sheets (Current Period
Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 4,728,352 | $ 8,199,364 |
Marketable securities, short-term | 18,808,203 | 19,591,833 |
Accounts receivable, net of allowance for uncollectible accounts of $15,000 | 2,165,866 | 3,436,802 |
Inventories | 3,596,326 | 3,358,298 |
Prepaid expenses and other assets | 967,958 | 607,283 |
Total current assets | 30,266,705 | 35,193,580 |
Fixed assets | ||
Machinery and equipment | 9,504,983 | 9,007,455 |
Leasehold improvements | 1,751,646 | 1,644,419 |
11,256,629 | 10,651,874 | |
Less accumulated depreciation and amortization | 9,742,050 | 9,238,626 |
Net fixed assets | 1,514,579 | 1,413,248 |
Long-term deferred tax assets | 333,023 | 357,055 |
Marketable securities, long-term | 56,729,730 | 56,810,923 |
Total assets | 88,844,037 | 93,774,806 |
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
Accounts payable | 258,869 | 376,275 |
Accrued payroll and other | 534,194 | 576,313 |
Deferred revenue | 142,733 | |
Total current liabilities | 793,063 | 1,095,321 |
Shareholders’ equity | ||
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,842,010 issued and outstanding as of December 31, 2017 and 4,841,010 issued and outstanding as of March 31, 2017 | 48,420 | 48,410 |
Additional paid-in capital | 19,599,298 | 19,507,348 |
Accumulated other comprehensive loss | (265,991) | (38,298) |
Retained earnings | 68,669,247 | 73,162,025 |
Total shareholders’ equity | 88,050,974 | 92,679,485 |
Total liabilities and shareholders’ equity | $ 88,844,037 | $ 93,774,806 |
Balance Sheets (Current Period3
Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Allowance for uncollectible accounts | $ 15,000 | $ 15,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 6,000,000 | 6,000,000 |
Common stock, shares issued (in shares) | 4,842,010 | 4,841,010 |
Common stock, shares outstanding (in shares) | 4,842,010 | 4,841,010 |
Statements of Income (Unaudited
Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue | ||||
Product sales | $ 6,448,831 | $ 7,116,931 | $ 19,718,584 | $ 19,782,529 |
Contract research and development | 911,958 | 345,748 | 2,246,105 | 1,690,461 |
Total revenue | 7,360,789 | 7,462,679 | 21,964,689 | 21,472,990 |
Cost of sales | 1,657,700 | 1,502,848 | 4,809,235 | 4,628,840 |
Gross profit | 5,703,089 | 5,959,831 | 17,155,454 | 16,844,150 |
Expenses | ||||
Selling, general, and administrative | 313,033 | 384,322 | 1,060,757 | 1,117,925 |
Research and development | 852,739 | 826,816 | 2,788,968 | 2,353,372 |
Total expenses | 1,165,772 | 1,211,138 | 3,849,725 | 3,471,297 |
Income from operations | 4,537,317 | 4,748,693 | 13,305,729 | 13,372,853 |
Interest income | 404,665 | 395,207 | 1,154,303 | 1,263,924 |
Income before taxes | 4,941,982 | 5,143,900 | 14,460,032 | 14,636,777 |
Provision for income taxes | 1,370,380 | 1,660,156 | 4,429,780 | 4,715,291 |
Net income | $ 3,571,602 | $ 3,483,744 | $ 10,030,252 | $ 9,921,486 |
Net income per share – basic (in dollars per share) | $ 0.74 | $ 0.72 | $ 2.07 | $ 2.05 |
Net income per share – diluted (in dollars per share) | 0.74 | 0.72 | 2.07 | 2.05 |
Cash dividends declared per common share (in dollars per share) | $ 1 | $ 1 | $ 3 | $ 3 |
Weighted average shares outstanding | ||||
Basic (in shares) | 4,841,369 | 4,836,336 | 4,841,130 | 4,835,639 |
Diluted (in shares) | 4,847,290 | 4,839,777 | 4,846,036 | 4,837,815 |
Statements of Comprehensive Inc
Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net income | $ 3,571,602 | $ 3,483,744 | $ 10,030,252 | $ 9,921,486 |
Unrealized loss from marketable securities, net of tax | (295,458) | (571,862) | (227,693) | (587,068) |
Comprehensive income | $ 3,276,144 | $ 2,911,882 | $ 9,802,559 | $ 9,334,418 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
OPERATING ACTIVITIES | ||
Net income | $ 10,030,252 | $ 9,921,486 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 726,842 | 868,218 |
Stock-based compensation | 40,920 | 22,000 |
Excess tax deficiencies | 293 | |
Deferred income taxes | 153,954 | (61,076) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 1,270,936 | 782,427 |
Inventories | (238,028) | 42,755 |
Prepaid expenses and other assets | (360,675) | (16,909) |
Accounts payable and accrued expenses | (159,525) | 162,906 |
Deferred revenue | (142,733) | (714,805) |
Net cash provided by operating activities | 11,321,943 | 11,007,295 |
INVESTING ACTIVITIES | ||
Purchases of fixed assets | (604,755) | (200,447) |
Purchases of marketable securities | (16,256,210) | (11,528,240) |
Proceeds from maturities of marketable securities | 16,540,000 | 11,400,000 |
Net cash used in investing activities | (320,965) | (328,687) |
FINANCING ACTIVITIES | ||
Proceeds from sale of common stock | 51,040 | 92,310 |
Excess tax (deficiencies) | (293) | |
Payment of dividends to shareholders | (14,523,030) | (14,506,030) |
Net cash used in financing activities | (14,471,990) | (14,414,013) |
Decrease in cash and cash equivalents | (3,471,012) | (3,735,405) |
Cash and cash equivalents at beginning of period | 8,199,364 | 7,534,593 |
Cash and cash equivalents at end of period | 4,728,352 | 3,799,188 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for income taxes | $ 4,615,019 | $ 4,720,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | NOTE 1 |
Note 2 - Interim Financial Info
Note 2 - Interim Financial Information | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 2. not 10 March 31, 2017. nine December 31, 2017 not may March 31, 2018. |
Note 3 - Recently Issued Accoun
Note 3 - Recently Issued Accounting Standards | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 3. Accounting Pronouncements Recently Adopted July 2015, No. 2015 11, Simplifying the Measurement of Inventory. 2015 11 first first 2015 11 first not March 2016, No. 2016 09, Compensation—Stock Compensation 2016 09 first March 31, 2018. not Future Accounting Pronouncements May 2014, No. 2014 09, 605, Revenue Recognition 2014 09 two August 2015, No. 2015 14, Revenue from Contracts with Customers: Deferral of the Effective Date 2014 09 one 2014 09 December 15, 2017 2019 not not not not 10 March 31, 2017. |
Note 4 - Net Income Per Share
Note 4 - Net Income Per Share | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 4. 4,000 6,000 nine December 31, 2016 not Quarter Ended Dec. 31 2017 2016 Weighted average common shares outstanding – basic 4,841,369 4,836,336 Dilutive effect of stock options 5,921 3,441 Shares used in computing net income per share – diluted 4,847,290 4,839,777 Nine Months Ended Dec. 31 2017 2016 Weighted average common shares outstanding – basic 4,841,130 4,835,639 Dilutive effect of stock options 4,906 2,176 Shares used in computing net income per share – diluted 4,846,036 4,837,815 |
Note 5 - Marketable Securities
Note 5 - Marketable Securities | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 5. one one December 31, 2017, Total <1 Year 1 –3 Years 3 –5 Years $ 75,537,933 $ 18,808,203 $ 29,512,416 $ 27,217,314 As of December 31 March 31, 2017, As of December 31, 2017 As of March 31, 2017 Adjusted Gross Unrealized Gross Unrealized Fair Market Adjusted Gross Unrealized Gross Unrealized Fair Market Corporate bonds $ 75,955,697 $ 27,442 $ (445,206 ) $ 75,537,933 $ 75,158,087 $ 187,001 $ (246,935 ) $ 75,098,153 Municipal bonds - - - - 1,304,817 - (214 ) 1,304,603 Total $ 75,955,697 $ 27,442 $ (445,206 ) $ 75,537,933 $ 76,462,904 $ 187,001 $ (247,149 ) $ 76,402,756 Fifteen securities were in unrealized loss positions as of December 31, 2017. December 31 March 31, 2017: Less Than 12 Months 12 Months or Greater Total Fair Market Gross Unrealized Fair Market Gross Unrealized Fair Market Gross Unrealized As of December 31, 2017 Corporate bonds $ 44,282,521 $ (325,912 ) $ 9,224,878 $ (119,294 ) $ 53,507,399 $ (445,206 ) Municipal bonds - - - - - - Total $ 44,282,521 $ (325,912 ) $ 9,224,878 $ (119,294 ) $ 53,507,399 $ (445,206 ) As of March 31, 2017 Corporate bonds $ 32,198,766 $ (246,935 ) $ - $ - $ 32,198,766 $ (246,935 ) Municipal bonds 1,304,603 (214 ) - - 1,304,603 (214 ) Total $ 33,503,369 $ (247,149 ) $ - $ - $ 33,503,369 $ (247,149 ) Three bonds, with a total fair market value of $9,224,878 12 December 31, 2017. 2% Because we expect to recover the cost basis of investments held, we do not December 31, 2017. |
Note 6 - Inventories
Note 6 - Inventories | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 6. December 31, March 31, 2017 Raw materials $ 1,044,845 $ 786,775 Work in process 1,710,799 1,968,990 Finished goods 840,682 602,533 Total inventories $ 3,596,326 $ 3,358,298 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 7. Stock-based compensation expense was $40,920 st nine 2018 $22,000 first nine 2017. 1,000 2018 2017 |
Note 8 - Income Taxes
Note 8 - Income Taxes | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8. The Act “To provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018” December 22, 2017. January 1, 2018 nine December 31, 2017 one 2018. one $206,693 nine December 31, 2017 December 31, 2017. 32% 29% 2018. We had no December 31, 2017, not 12 December 31, 2017 no 1999 2013 2016 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 9. 1 1 1 December 31, 2017. $75,537,933 December 31, 2017 $75,098,153 March 31, 2017. 2 2 no 2 December 31, 2017. one 2 $1,304,603, March 31, 2017. March 31, 2017 3 not 3 |
Note 10 - Stock Repurchase Prog
Note 10 - Stock Repurchase Program | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stock Repurchase Plan Disclosure [Text Block] | NOTE 10. January 21, 2009 $2,500,000 August 27, 2015 $5,000,000 not December 31, 2017. $4,540,806 December 31, 2017. may |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 9 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 11. January 17, 2018 $1.00 February 28, 2018 January 29, 2018 |
Note 4 - Net Income Per Share (
Note 4 - Net Income Per Share (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | Quarter Ended Dec. 31 2017 2016 Weighted average common shares outstanding – basic 4,841,369 4,836,336 Dilutive effect of stock options 5,921 3,441 Shares used in computing net income per share – diluted 4,847,290 4,839,777 Nine Months Ended Dec. 31 2017 2016 Weighted average common shares outstanding – basic 4,841,130 4,835,639 Dilutive effect of stock options 4,906 2,176 Shares used in computing net income per share – diluted 4,846,036 4,837,815 |
Note 5 - Marketable Securities
Note 5 - Marketable Securities (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Total <1 Year 1 –3 Years 3 –5 Years $ 75,537,933 $ 18,808,203 $ 29,512,416 $ 27,217,314 |
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | As of December 31, 2017 As of March 31, 2017 Adjusted Gross Unrealized Gross Unrealized Fair Market Adjusted Gross Unrealized Gross Unrealized Fair Market Corporate bonds $ 75,955,697 $ 27,442 $ (445,206 ) $ 75,537,933 $ 75,158,087 $ 187,001 $ (246,935 ) $ 75,098,153 Municipal bonds - - - - 1,304,817 - (214 ) 1,304,603 Total $ 75,955,697 $ 27,442 $ (445,206 ) $ 75,537,933 $ 76,462,904 $ 187,001 $ (247,149 ) $ 76,402,756 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or Greater Total Fair Market Gross Unrealized Fair Market Gross Unrealized Fair Market Gross Unrealized As of December 31, 2017 Corporate bonds $ 44,282,521 $ (325,912 ) $ 9,224,878 $ (119,294 ) $ 53,507,399 $ (445,206 ) Municipal bonds - - - - - - Total $ 44,282,521 $ (325,912 ) $ 9,224,878 $ (119,294 ) $ 53,507,399 $ (445,206 ) As of March 31, 2017 Corporate bonds $ 32,198,766 $ (246,935 ) $ - $ - $ 32,198,766 $ (246,935 ) Municipal bonds 1,304,603 (214 ) - - 1,304,603 (214 ) Total $ 33,503,369 $ (247,149 ) $ - $ - $ 33,503,369 $ (247,149 ) |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 9 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, March 31, 2017 Raw materials $ 1,044,845 $ 786,775 Work in process 1,710,799 1,968,990 Finished goods 840,682 602,533 Total inventories $ 3,596,326 $ 3,358,298 |
Note 4 - Net Income Per Share21
Note 4 - Net Income Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended |
Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 4,000 | 6,000 |
Note 4 - Net Income Per Share -
Note 4 - Net Income Per Share - Components of Common Shares Outstanding (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Weighted average common shares outstanding – basic (in shares) | 4,841,369 | 4,836,336 | 4,841,130 | 4,835,639 |
Dilutive effect of stock options (in shares) | 5,921 | 3,441 | 4,906 | 2,176 |
Shares used in computing net income per share – diluted (in shares) | 4,847,290 | 4,839,777 | 4,846,036 | 4,837,815 |
Note 5 - Marketable Securitie23
Note 5 - Marketable Securities (Details Textual) | Dec. 31, 2017USD ($) | Mar. 31, 2017USD ($) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 9,224,878 | |
Number of Other-than-temporarily Impaired Marketable Securities | 0 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 9,224,878 | |
Corporate Bond Securities [Member] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | $ 9,224,878 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 2 |
Note 5 - Marketable Securitie24
Note 5 - Marketable Securities - Fair Value of Marketable Securities by Maturity (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Total | $ 75,537,933 | $ 76,402,756 |
Less than 1 year | 18,808,203 | |
1-3 years | 29,512,416 | |
3-5 years | $ 27,217,314 |
Note 5 - Marketable Securitie25
Note 5 - Marketable Securities - Reconciliation of Marketable Securities (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Adjusted Cost | $ 75,955,697 | $ 76,462,904 |
Gross Unrealized Gains | 27,442 | 187,001 |
Gross Unrealized Losses | (445,206) | (247,149) |
Fair Market Value | 75,537,933 | 76,402,756 |
Corporate Bond Securities [Member] | ||
Adjusted Cost | 75,955,697 | 75,158,087 |
Gross Unrealized Gains | 27,442 | 187,001 |
Gross Unrealized Losses | (445,206) | (246,935) |
Fair Market Value | 75,537,933 | 75,098,153 |
Municipal Bonds [Member] | ||
Adjusted Cost | 1,304,817 | |
Gross Unrealized Gains | ||
Gross Unrealized Losses | (214) | |
Fair Market Value | $ 1,304,603 |
Note 5 - Marketable Securitie26
Note 5 - Marketable Securities - Securities in a Continuous Loss Position (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Mar. 31, 2017 | |
Fair market value, less than 12 months | $ 44,282,521 | $ 33,503,369 |
Gross unrealized losses, less than 12 months | (325,912) | (247,149) |
Fair market value, greater than 12 months | 9,224,878 | |
Gross unrealized losses, greater than 12 months | (119,294) | |
Total fair market value | 53,507,399 | 33,503,369 |
Total gross unrealized losses | (445,206) | (247,149) |
Corporate Bond Securities [Member] | ||
Fair market value, less than 12 months | 44,282,521 | 32,198,766 |
Gross unrealized losses, less than 12 months | (325,912) | (246,935) |
Fair market value, greater than 12 months | 9,224,878 | |
Gross unrealized losses, greater than 12 months | (119,294) | |
Total fair market value | 53,507,399 | 32,198,766 |
Total gross unrealized losses | (445,206) | (246,935) |
Municipal Bonds [Member] | ||
Fair market value, less than 12 months | 1,304,603 | |
Gross unrealized losses, less than 12 months | (214) | |
Fair market value, greater than 12 months | ||
Gross unrealized losses, greater than 12 months | ||
Total fair market value | 1,304,603 | |
Total gross unrealized losses | $ (214) |
Note 6 - Inventories - Summary
Note 6 - Inventories - Summary of Inventories (Details) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Raw materials | $ 1,044,845 | $ 786,775 |
Work in process | 1,710,799 | 1,968,990 |
Finished goods | 840,682 | 602,533 |
Total inventories | $ 3,596,326 | $ 3,358,298 |
Note 7 - Stock-based Compensa28
Note 7 - Stock-based Compensation (Details Textual) - USD ($) | 9 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Allocated Share-based Compensation Expense | $ 40,920 | $ 22,000 |
Non-employee Director Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,000 |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Dec. 31, 2018 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 206,693 | |
Effective Income Tax Rate Reconciliation, Percent | 32.00% | |
Unrecognized Tax Benefits | $ 0 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 0 | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 0 | |
Open Tax Year | 1,999 | |
Earliest Tax Year [Member] | ||
Open Tax Year | 2,013 | |
Latest Tax Year [Member] | ||
Open Tax Year | 2,016 | |
Scenario, Forecast [Member] | ||
Effective Income Tax Rate Reconciliation, Percent | 29.00% |
Note 9 - Fair Value Measureme30
Note 9 - Fair Value Measurements (Details Textual) - USD ($) | Dec. 31, 2017 | Mar. 31, 2017 |
Fair Value, Inputs, Level 1 [Member] | ||
Available-for-sale Securities | $ 75,537,933 | $ 75,098,153 |
Fair Value, Inputs, Level 2 [Member] | ||
Available-for-sale Securities | 0 | $ 1,304,603 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | |
Assets, Fair Value Disclosure | $ 0 |
Note 10 - Stock Repurchase Pr31
Note 10 - Stock Repurchase Program (Details Textual) - USD ($) | 3 Months Ended | ||
Dec. 31, 2017 | Aug. 27, 2015 | Jan. 21, 2009 | |
Stock Repurchase Program, Authorized Amount | $ 2,500,000 | ||
Stock Repurchase Program Authorized Additional Amount | $ 5,000,000 | ||
Stock Repurchased and Retired During Period, Value | $ 0 | ||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 4,540,806 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) - $ / shares | Jan. 17, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 |
Common Stock, Dividends, Per Share, Declared | $ 1 | $ 1 | $ 3 | $ 3 | |
Subsequent Event [Member] | |||||
Common Stock, Dividends, Per Share, Declared | $ 1 | ||||
Dividends Payable, Date to be Paid | Feb. 28, 2018 | ||||
Dividends Payable, Date of Record | Jan. 29, 2018 |