NVE (NVEC) 10-Q 22 Jan 25 2025 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Dec. 31, 2024 $ / shares shares
Details
Registrant CIK	0000724910
Fiscal Year End	--03-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Securities Act File Number	000-12196
Entity Registrant Name	NVE CORP
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1424202
Entity Address, Address Line One	1409 Valley View Road
Entity Address, City or Town	Eden Prairie
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55344
Entity Address, Address Description	Address of principal executive offices
City Area Code	952
Local Phone Number	829-9217
Phone Fax Number Description	Registrant’s telephone number, including area code
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	NVEC
Security Exchange Name	NASDAQ
Entity Listing, Par Value Per Share | $ / shares	$ 0.01
Entity Common Stock, Shares Outstanding | shares	4,837,166
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q3

BALANCE SHEETS (December 31, 20

BALANCE SHEETS (December 31, 2024 Unaudited) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Current assets
Cash and cash equivalents	$ 5,485,684	$ 10,283,550
Marketable securities, short-term (amortized cost of $14,993,163 as of December 31, 2024, and $12,283,630 as of March 31, 2024)	14,907,252	11,917,779
Accounts receivable, net of allowance for credit losses of $15,000 as of December 31 and March 31, 2024	1,355,064	3,144,833
Inventories	7,787,624	7,158,585
Prepaid expenses and other assets	736,481	689,349
Total current assets	30,272,105	33,194,096
Fixed assets
Machinery and equipment	11,663,886	10,501,096
Leasehold improvements	1,956,309	1,956,309
Less accumulated depreciation	11,645,199	11,403,383
Net fixed assets	1,974,996	1,054,022
Deferred tax assets	1,689,207	1,453,704
Marketable securities, long-term (amortized cost of $29,996,231 as of December 31, 2024, and $31,417,890 as of March 31, 2024)	29,704,367	30,788,301
Right-of-use asset - operating lease	947,889	289,910
Total assets	64,588,564	66,780,033
Long-Lived Assets	13,620,195	12,457,405
Current liabilities
Accounts payable	154,683	127,154
Accrued payroll and other	511,589	729,215
Operating lease liability	84,838	179,372
Total current liabilities	751,110	1,035,741
Long-term operating lease liability	864,966	175,775
Total liabilities	1,616,076	1,211,516
Shareholders' equity
Common Stock, Value	48,372	48,337
Additional paid-in capital	19,806,845	19,554,812
Accumulated other comprehensive loss	(295,358)	(777,637)
Retained earnings	43,412,629	46,743,005
Total shareholders' equity	62,972,488	65,568,517
Total liabilities and shareholders' equity	$ 64,588,564	$ 66,780,033

BALANCE SHEETS (December 31, _2

BALANCE SHEETS (December 31, 2024 Unaudited) - Parenthetical - USD ($)	Dec. 31, 2024	Mar. 31, 2024
BALANCE SHEETS (December 31, 2024 Unaudited)
Debt Instrument, Unamortized Discount, Current	$ 14,993,163	$ 12,283,630
Accounts Receivable, Allowance for Credit Loss	15,000	15,000
Debt Instrument, Unamortized Discount, Noncurrent	$ 29,996,231	$ 31,417,890
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	6,000,000	6,000,000
Common Stock, Shares, Issued	4,837,166	4,833,676
Common Stock, Shares, Outstanding	4,837,166	4,833,676

STATEMENTS OF INCOME (Unaudited

STATEMENTS OF INCOME (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Revenue
Product sales	$ 4,960,488	$ 6,366,009	$ 17,680,780	$ 22,183,223
Contract research and development	102,557	390,251	924,199	537,727
Total revenue	5,063,045	6,756,260	18,604,979	22,720,950
Cost of sales	797,622	1,355,067	2,720,370	5,034,556
Gross profit	4,265,423	5,401,193	15,884,609	17,686,394
Expenses
Research and development	869,677	540,895	2,595,808	1,920,095
Selling, general, and administrative	434,783	389,311	1,543,428	1,298,211
Total expenses	1,304,460	930,206	4,139,236	3,227,820
Income from operations	2,960,963	4,470,987	11,745,373	14,458,574
Interest income	474,180	491,671	1,432,568	1,440,289
Other income	135,057	0	135,057	0
Income before taxes	3,570,200	4,962,658	13,312,998	15,898,863
Provision for income taxes	521,790	778,236	2,140,856	2,587,145
Net income	$ 3,048,410	$ 4,184,422	$ 11,172,142	$ 13,311,718
Net income per share - basic	$ 0.63	$ 0.87	$ 2.31	$ 2.75
Net income per share - diluted	0.63	0.87	2.31	2.75
Cash dividends declared per common share	$ 1	$ 1	$ 3	$ 3
Weighted average shares outstanding
Weighted Average Number of Shares Outstanding, Basic	4,835,262	4,833,401	4,834,382	4,832,992
Weighted Average Number of Shares Outstanding, Diluted	4,839,124	4,837,230	4,839,247	4,839,725
Accounts Receivable, Credit Loss Expense (Reversal)			$ 0	$ 9,514

STATEMENTS OF COMPREHENSIVE INC

STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)	3 Months Ended						9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2024	Dec. 31, 2023
STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)
Net income	$ 3,048,410	$ 4,026,145	$ 4,097,587	$ 4,184,422	$ 4,723,566	$ 4,403,730	$ 11,172,142	$ 13,311,718
Unrealized loss from marketable securities, net of tax	(226,848)	680,417	28,710	748,830	(53,588)	(234,701)	482,279	460,541
Comprehensive income	$ 2,821,562	$ 4,706,562	$ 4,126,297	$ 4,933,252	$ 4,669,978	$ 4,169,029	$ 11,654,421	$ 13,772,259

STATEMENTS OF SHAREHOLDERS' EQU

STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock	Additional Paid-in Capital	AOCI Including Portion Attributable to Noncontrolling Interest	Retained Earnings	Total
Equity Balance, Starting at Mar. 31, 2023	$ 48,308	$ 19,295,442	$ (1,213,858)	$ 48,949,610	$ 67,079,502
Shares Outstanding, Starting at Mar. 31, 2023	4,830,826
Unrealized loss from marketable securities, net of tax			(234,701)		(234,701)
Net income				4,403,730	4,403,730
Total comprehensive income					4,169,029
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture		10,536			10,536
Dividends, Cash				(4,830,826)	(4,830,826)
Stock Issued During Period, Value, Stock Options Exercised	$ 26	117,501			117,527
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	2,575
Shares Outstanding, Ending at Jun. 30, 2023	4,833,401
Equity Balance, Ending at Jun. 30, 2023	$ 48,334	19,423,479	(1,448,559)	48,522,514	66,545,768
Equity Balance, Starting at Mar. 31, 2023	$ 48,308	19,295,442	(1,213,858)	48,949,610	67,079,502
Shares Outstanding, Starting at Mar. 31, 2023	4,830,826
Unrealized loss from marketable securities, net of tax					460,541
Net income					13,311,718
Total comprehensive income					$ 13,772,259
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period					4,000
Shares Outstanding, Ending at Dec. 31, 2023	4,833,401
Equity Balance, Ending at Dec. 31, 2023	$ 48,334	19,542,335	(753,317)	47,763,700	$ 66,601,052
Equity Balance, Starting at Jun. 30, 2023	$ 48,334	19,423,479	(1,448,559)	48,522,514	66,545,768
Shares Outstanding, Starting at Jun. 30, 2023	4,833,401
Unrealized loss from marketable securities, net of tax			(53,588)		(53,588)
Net income				4,723,566	4,723,566
Total comprehensive income					4,669,978
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture		106,312			106,312
Dividends, Cash				(4,833,401)	(4,833,401)
Shares Outstanding, Ending at Sep. 30, 2023	4,833,401
Equity Balance, Ending at Sep. 30, 2023	$ 48,334	19,529,791	(1,502,147)	48,412,679	66,488,657
Unrealized loss from marketable securities, net of tax			748,830		748,830
Net income				4,184,422	4,184,422
Total comprehensive income					4,933,252
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture		12,544			12,544
Dividends, Cash				(4,833,401)	$ (4,833,401)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period					0
Shares Outstanding, Ending at Dec. 31, 2023	4,833,401
Equity Balance, Ending at Dec. 31, 2023	$ 48,334	19,542,335	(753,317)	47,763,700	$ 66,601,052
Equity Balance, Starting at Mar. 31, 2024	$ 48,337	19,554,812	(777,637)	46,743,005	65,568,517
Shares Outstanding, Starting at Mar. 31, 2024	4,833,676
Unrealized loss from marketable securities, net of tax			28,710		28,710
Net income				4,097,587	4,097,587
Total comprehensive income					4,126,297
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture		18,442			18,442
Dividends, Cash				(4,833,676)	(4,833,676)
Shares Outstanding, Ending at Jun. 30, 2024	4,833,676
Equity Balance, Ending at Jun. 30, 2024	$ 48,337	19,573,254	(748,927)	46,006,916	64,879,580
Equity Balance, Starting at Mar. 31, 2024	$ 48,337	19,554,812	(777,637)	46,743,005	65,568,517
Shares Outstanding, Starting at Mar. 31, 2024	4,833,676
Unrealized loss from marketable securities, net of tax					482,279
Net income					11,172,142
Total comprehensive income					$ 11,654,421
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period					9,000
Shares Outstanding, Ending at Dec. 31, 2024	4,837,166
Equity Balance, Ending at Dec. 31, 2024	$ 48,372	19,806,845	(295,358)	43,412,629	$ 62,972,488
Equity Balance, Starting at Jun. 30, 2024	$ 48,337	19,573,254	(748,927)	46,006,916	64,879,580
Shares Outstanding, Starting at Jun. 30, 2024	4,833,676
Unrealized loss from marketable securities, net of tax			680,417		680,417
Net income				4,026,145	4,026,145
Total comprehensive income					4,706,562
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture		105,203			105,203
Dividends, Cash				(4,833,676)	(4,833,676)
Stock Issued During Period, Value, Stock Options Exercised	$ 3	(32)			(29)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	344
Shares Outstanding, Ending at Sep. 30, 2024	4,834,020
Equity Balance, Ending at Sep. 30, 2024	$ 48,340	19,678,425	(68,510)	45,199,385	64,857,640
Unrealized loss from marketable securities, net of tax			(226,848)		(226,848)
Net income				3,048,410	3,048,410
Total comprehensive income					2,821,562
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture		14,261			14,261
Dividends, Cash				(4,835,166)	(4,835,166)
Stock Issued During Period, Value, Stock Options Exercised	$ 32	114,159			$ 114,191
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	3,146				8,000
Shares Outstanding, Ending at Dec. 31, 2024	4,837,166
Equity Balance, Ending at Dec. 31, 2024	$ 48,372	$ 19,806,845	$ (295,358)	$ 43,412,629	$ 62,972,488

STATEMENTS OF CASH FLOWS (Unaud

STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
OPERATING ACTIVITIES
Net income	$ 11,172,142	$ 13,311,718
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	241,816	231,749
Bonds discount amortization	(212,554)	(75,676)
Provision for credit losses	0	9,514
Stock-based compensation	137,906	129,392
Deferred income taxes	(371,436)	(847,235)
Non-cash operating lease credit	(63,322)	(20,039)
Changes in operating assets and liabilities
Accounts receivable	1,789,769	4,268,102
Inventories	(629,039)	(932,801)
Prepaid expenses and other assets	(47,132)	66,154
Accounts payable	27,529	(111,011)
Accrued payroll and other	(217,626)	(914,836)
Net cash provided by operating activities	11,828,053	15,115,031
INVESTING ACTIVITIES
Purchases of fixed assets	(1,162,790)	(16,731)
Purchases of marketable securities	(11,279,773)	(6,103,185)
Proceeds from maturities of marketable securities	10,205,000	8,400,000
Net cash provided by (used in) investing activities	(2,237,563)	2,280,084
FINANCING ACTIVITIES
(Payments on) proceeds from exercise of stock options	114,162	117,527
Payment of dividends to shareholders	(14,502,518)	(14,497,628)
Net cash used in financing activities	(14,388,356)	(14,380,101)
Increase (decrease) in cash and cash equivalents	(4,797,866)	3,015,014
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance	10,283,550	1,669,896
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance	5,485,684	4,684,910
Supplemental disclosures of cash flow information
Cash paid during the period for income taxes	$ 2,782,289	$ 3,685,861

NOTE 1. DESCRIPTION OF BUSINESS

NOTE 1. DESCRIPTION OF BUSINESS	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 1. DESCRIPTION OF BUSINESS	NOTE 1. DESCRIPTION OF BUSINESS We develop and sell devices that use spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store, and transmit information.

NOTE 2. BASIS OF PRESENTATION A

NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited financial statements of NVE Corporation are prepared consistent with accounting principles generally accepted in the United States and in accordance with Securities and Exchange Commission rules and regulations. In the opinion of management, these financial statements reflect all adjustments, consisting only of normal and recurring adjustments, necessary for a fair presentation of the financial statements. Although we believe that the disclosures are adequate to make the information presented not misleading, certain disclosures have been omitted as allowed, and the Notes to Financial Statements have been condensed as permitted. It is suggested that these unaudited financial statements be read in conjunction with the audited financial statements and Notes included in our latest Annual Report on Form 10-K for the fiscal year ended March 31, 2024. The results of operations for the quarter ended December 31, 2024, are not necessarily indicative of the results that may be expected for the full fiscal year ending March 31, 2025. Significant accounting policies A description of our significant accounting policies and estimates is provided in Note 2 to the Financial Statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024. As of December 31, 2024, there were no changes to our significant accounting policies or estimates. Reclassification The presentation of certain items in the statement of cash flows for the three- and nine-month periods ending December 31, 2023 has been changed to conform to the classifications used in 2024. These reclassifications had no effect on shareholders’ equity, net income, or comprehensive net income as previously reported.

NOTE 3. NEW ACCOUNTING STANDARD

NOTE 3. NEW ACCOUNTING STANDARDS NOT YET ADOPTED	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 3. NEW ACCOUNTING STANDARDS NOT YET ADOPTED	NOTE 3. NEW ACCOUNTING STANDARDS NOT YET ADOPTED In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date We do not expect the adoption of other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies that do not require adoption until a future date to have a material impact on our financial statements when they are adopted.

NOTE 4. NET INCOME PER SHARE

NOTE 4. NET INCOME PER SHARE	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 4. NET INCOME PER SHARE	NOTE 4. NET INCOME PER SHARE Net income per basic share is computed based on the weighted-average number of common shares issued and outstanding during each period. Net income per diluted share amounts assume exercise of all stock options. The following tables show the components of diluted shares: Quarter Ended December 31, 2024 2023 Weighted average common shares outstanding – basic 4,835,262 4,833,401 Dilutive effect of stock options 3,862 3,829 Shares used in computing net income per share – diluted 4,839,124 4,837,230 Nine Months Ended December 31, 2024 2023 Weighted average common shares outstanding – basic 4,834,382 4,832,992 Dilutive effect of stock options 4,865 6,733 Shares used in computing net income per share – diluted 4,839,247 4,839,725

NOTE 5. MARKETABLE SECURITIES

NOTE 5. MARKETABLE SECURITIES	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 5. MARKETABLE SECURITIES	NOTE 5. MARKETABLE SECURITIES The following table shows the major categories of our marketable securities and their contractual maturities as of December 31, 2024: Total <1 Year 1–3 Years 3–5 Years Money market funds $ 5,109,218 $ 5,109,218 $ - $ - Treasury securities 4,686,781 - 4,686,781 - Corporate bonds 39,924,838 14,907,252 17,149,882 7,867,704 Total $ 49,720,837 $ 20,016,470 $ 21,836,663 $ 7,867,704 Total marketable securities and money market funds represented approximately 77% of our total assets as of December 31, 2024. Marketable securities as of December 31, 2024, had remaining maturities between 10 weeks and 52 months. Money market funds are included on the balance sheets in “Cash and cash equivalents.” Corporate bonds are included in “Marketable securities, short term” and “Marketable securities, long term.” Treasury securities are included in “Marketable securities, long term.” Accrued interest receivable was $354,529 as of December 31, 2024, and $460,627 as of March 31, 2024, and is included in the balance sheets in “Prepaid expenses and other assets.” We monitor the credit ratings of our marketable securities at least quarterly as reported by Standard & Poor’s. The following table summarizes the fair values of our marketable securities as of December 31, 2024, aggregated by credit rating: Credit Rating Fair Value AAA $ 9,795,999 AA+ 3,877,878 AA 9,755,138 AA- 18,408,078 A+ 2,915,398 A 4,968,346 Total $ 49,720,837 Because we believe it is more likely than not we will recover the cost basis of our investments, we did not record any allowance attributable to credit losses. None of the marketable securities purchased during the period had experienced more-than-insignificant deterioration in credit quality since its origination and were therefore not considered “Purchased Financial Assets with Credit Deterioration.” The following table shows the estimated fair value of our marketable securities, aggregated by fair value hierarchy inputs used in estimating their fair values: As of December 31, 2024 As of March 31, 2024 Level 1 Level 2 Total Level 1 Level 2 Total Money market funds $ 5,109,218 $ - $ 5,109,218 $ 9,842,796 $ - $ 9,842,796 Treasury securities - 4,686,781 4,686,781 - - - Corporate bonds - 39,924,838 39,924,838 - 42,706,080 42,706,080 Total $ 5,109,218 $ 44,611,619 $ 49,720,837 $ 9,842,796 $ 42,706,080 $ 52,548,876 The following table shows the amortized cost, fair value and gross unrealized holding gains and losses of our marketable securities as of December 31 and March 31, 2024: As of December 31, 2024 As of March 31, 2024 Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Money market funds $ 5,109,218 $ - $ - $ 5,109,218 $ 9,842,796 $ - $ - $ 9,842,796 Treasury securities 4,699,645 - (12,864 ) 4,686,781 - - - - Corporate bonds 40,289,749 40,688 (405,599 ) 39,924,838 43,701,520 930 (996,370 ) 42,706,080 Total $ 50,098,612 $ 40,688 $ (418,463 ) $ 49,720,837 $ 53,544,316 $ 930 $ (996,370 ) $ 52,548,876 The following table shows the gross unrealized holding losses and estimated fair value of our marketable securities, aggregated by category of securities and length of time that individual securities had been in a continuous unrealized loss position as of December 31 and March 31, 2024. Less Than 12 Months 12 Months or Greater Total Estimated Fair Value Gross Unrealized Holding Losses Estimated Fair Value Gross Unrealized Holding Losses Estimated Fair Value Gross Unrealized Holding Losses As of December 31, 2024 Treasury securities $ 4,686,781 $ (12,864 ) $ - $ - 4,686,781 (12,864 ) Corporate bonds 7,364,614 (97,789 ) 25,812,127 (307,810 ) $ 33,176,741 $ (405,599 ) Total $ 12,051,395 $ (110,653 ) $ 25,812,127 $ (307,810 ) $ 37,863,522 $ (418,463 ) As of March 31, 2024 Corporate bonds $ 3,154,764 $ (4,902 ) $ 36,551,534 $ (991,468 ) $ 39,706,298 $ (996,370 ) Total $ 3,154,764 $ (4,902 ) $ 36,551,534 $ (991,468 ) $ 39,706,298 $ (996,370 ) None of the securities were impaired at acquisition, and subsequent declines in fair value are attributable to interest rate increases. We do not intend to sell, and it is not more likely than not that we will be required to sell, these securities before recovery of their amortized cost basis. The issuers continue to make timely interest payments on these securities. Unrealized gains and losses on our marketable securities and their tax effects are as follows: Quarter Ended December 31, 2024 2023 Unrealized gain (loss) on marketable securities $ (290,384 ) $ 958,564 Tax effects 63,536 (209,734 ) Unrealized gain (loss) on marketable securities, net of tax $ (226,848 ) $ 748,830 Nine Months Ended December 31, 2024 2023 Unrealized gain from marketable securities $ 617,665 $ 589,530 Tax effects (135,386 ) (128,989 ) Unrealized gain on marketable securities, net of tax $ 482,279 $ 460,541

NOTE 6. ALLOWANCE FOR CREDIT LO

NOTE 6. ALLOWANCE FOR CREDIT LOSSES ON ACCOUNTS RECEIVABLES	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 6. ALLOWANCE FOR CREDIT LOSSES ON ACCOUNTS RECEIVABLES	NOTE 6. ALLOWANCE FOR CREDIT LOSSES ON ACCOUNTS RECEIVABLES The following table shows a roll forward of the allowance for credit losses on our accounts receivable: Allowance for credit losses as of March 31, 2024 $ 15,000 Change in provision for current expected credit losses - Allowance for credit losses as of December 31, 2024 $ 15,000

NOTE 7. INVENTORIES

NOTE 7. INVENTORIES	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 7. INVENTORIES	NOTE 7. INVENTORIES Inventories are shown in the following table: Dec. 31, 2024 March 31, 2024 Raw materials $ 1,742,871 $ 1,982,657 Work in process 3,795,112 2,641,085 Finished goods 2,249,641 2,534,843 Total inventories $ 7,787,624 $ 7,158,585

NOTE 8. STOCK-BASED COMPENSATIO

NOTE 8. STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 8. STOCK-BASED COMPENSATION	NOTE 8. STOCK-BASED COMPENSATION Stock-based compensation expense was $14,261 for the third quarter of fiscal 2025, $12,544 for the third quarter of fiscal 2024, $137,906 for the first nine months of fiscal 2025, and $129,392 for the first nine months of fiscal 2024. We calculate share-based compensation expense using the Black-Scholes-Merton standard option-pricing model. Quarter Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Stock options grant - 4,000 6,500 6,500 Stock options exercised 8,000 - 9,000 4,000 During the three and nine months ended December 31, 2024 there were 6,000 and 7,000 stock options, respectively, exchanged in a cashless net option exercise which resulted in 1,146 and 1,490 shares issued, respectively. During the nine months ended December 31, 2023 there were 2,000 stock options exchanged in a cashless net option exercise which resulted in 575 shares issued.

NOTE 9. INCOME TAXES

NOTE 9. INCOME TAXES	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 9. INCOME TAXES	NOTE 9. INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. As of December 31, 2024, federal and state estimated tax overpayments of $301,246 were included in the balance sheet in “Prepaid expenses and other assets.” We had no unrecognized tax benefits as of December 31, 2024, and we do not expect any significant unrecognized tax benefits within 12 months of the reporting date. We recognize interest and penalties related to income tax matters in income tax expense. As of December 31, 2024, we had no accrued interest related to uncertain tax positions. The tax years ended March 31, 2020 through March 31, 2024 remain open to examination by the major taxing jurisdictions to which we are subject.

NOTE 10. LEASES

NOTE 10. LEASES	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 10. LEASES	NOTE 10. LEASES We conduct our operations in a leased facility under a non-cancellable lease expiring May 31, 2031. Effective November 4, 2024 we executed an Amendment extending our lease, which would have expired March 31, 2026 without the Amendment. Liabilities under the lease Amendment are included in the lease-liabilities table below. For further details on obligations under our lease as amended, refer to our Form 8-K/A filed on November 7, 2024 and referenced in Item 6 of this Report. Our lease does not provide an implicit interest rate, so we used our incremental borrowing rate to determine the present value of lease payments. Lease expense is recognized on a straight-line basis over the lease term. Details of our operating lease are as follows: Quarter Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Operating lease cost $ 44,727 37,754 $ 120,235 113,261 Cash paid for amounts included Operating cash flows for leases $ 45,341 44,433 $ 136,023 133,299 Right-of-use assets obtained in exchange for new lease liabilities Operating lease $ 710,665 - - - Remaining lease term 78 months 78 months Discount rate 7.8 % 7.8 % The following table shows the maturities of lease liabilities as of December 31, 2024: Year Ending March 31, Operating Lease Liabilities 2025 46,249 2026 84,995 2027 172,142 2028 213,284 2029 220,216 2030 227,373 2031 234,762 2032 40,399 Total lease payments 1,239,420 Imputed lease interest (289,616 ) Total lease liabilities $ 949,804

NOTE 11. STOCK REPURCHASE PROGR

NOTE 11. STOCK REPURCHASE PROGRAM	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 11. STOCK REPURCHASE PROGRAM	NOTE 11. STOCK REPURCHASE PROGRAM On January 21, 2009, we announced that our Board of Directors authorized the repurchase of up to $2,500,000 of our Common Stock from time to time in open market, block, or privately negotiated transactions. The timing and extent of any repurchases depend on market conditions, the trading price of the company’s stock, and other factors, and subject to the restrictions relating to volume, price, and timing under applicable law. On August 27, 2015, we announced that our Board of Directors authorized up to $5,000,000 of additional repurchases. Our repurchase program does not have an expiration date and does not obligate us to purchase any shares. The Program may be modified or discontinued at any time without notice. We intend to finance any stock repurchases with cash provided by operating activities or maturing marketable securities. The remaining authorization was $3,520,369 as of December 31, 2024. We did not repurchase any of our Common Stock during the first nine months of fiscal 2025.

NOTE 12. INFORMATION AS TO EMPL

NOTE 12. INFORMATION AS TO EMPLOYEE STOCK PURCHASE, SAVINGS, AND SIMILAR PLANS	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 12. INFORMATION AS TO EMPLOYEE STOCK PURCHASE, SAVINGS, AND SIMILAR PLANS	NOTE 12. INFORMATION AS TO EMPLOYEE STOCK PURCHASE, SAVINGS, AND SIMILAR PLANS All of our employees are eligible to participate in our 401(k) savings plan the first quarter after reaching age 18. Employees may contribute up to the Internal Revenue Code maximum. We make matching contributions of 100% of the first 3% of participants’ salary deferral contributions. Our matching contributions were $22,375 for the third quarter of fiscal 2025, $27,904 for the third quarter of fiscal 2024, $72,442 for the first nine months of fiscal 2025, and $79,388 for the first nine months of fiscal 2024.

NOTE 13. SUBSEQUENT EVENTS

NOTE 13. SUBSEQUENT EVENTS	9 Months Ended
	Dec. 31, 2024
Notes
NOTE 13. SUBSEQUENT EVENTS	NOTE 13. SUBSEQUENT EVENTS On January 22, 2025, we announced that our Board of Directors had declared a quarterly cash dividend of $1.00 per share of Common Stock to be paid February 28, 2025, to shareholders of record as of the close of business February 3, 2025.

NOTE 2. BASIS OF PRESENTATION_2

NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: Basis of Presentation (Policies)	9 Months Ended
	Dec. 31, 2024
Policies
Basis of Presentation	Basis of Presentation The accompanying unaudited financial statements of NVE Corporation are prepared consistent with accounting principles generally accepted in the United States and in accordance with Securities and Exchange Commission rules and regulations. In the opinion of management, these financial statements reflect all adjustments, consisting only of normal and recurring adjustments, necessary for a fair presentation of the financial statements. Although we believe that the disclosures are adequate to make the information presented not misleading, certain disclosures have been omitted as allowed, and the Notes to Financial Statements have been condensed as permitted. It is suggested that these unaudited financial statements be read in conjunction with the audited financial statements and Notes included in our latest Annual Report on Form 10-K for the fiscal year ended March 31, 2024. The results of operations for the quarter ended December 31, 2024, are not necessarily indicative of the results that may be expected for the full fiscal year ending March 31, 2025.

NOTE 2. BASIS OF PRESENTATION_3

NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: Significant accounting policies (Policies)	9 Months Ended
	Dec. 31, 2024
Policies
Significant accounting policies	Significant accounting policies A description of our significant accounting policies and estimates is provided in Note 2 to the Financial Statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024. As of December 31, 2024, there were no changes to our significant accounting policies or estimates.

NOTE 2. BASIS OF PRESENTATION_4

NOTE 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES: Reclassification (Policies)	9 Months Ended
	Dec. 31, 2024
Policies
Reclassification	Reclassification The presentation of certain items in the statement of cash flows for the three- and nine-month periods ending December 31, 2023 has been changed to conform to the classifications used in 2024. These reclassifications had no effect on shareholders’ equity, net income, or comprehensive net income as previously reported.

NOTE 6. ALLOWANCE FOR CREDIT _2

NOTE 6. ALLOWANCE FOR CREDIT LOSSES ON ACCOUNTS RECEIVABLES: Schedule of Accounts, Notes, Loans and Financing Receivable (Policies)	9 Months Ended
	Dec. 31, 2024
Policies
Schedule of Accounts, Notes, Loans and Financing Receivable	Allowance for credit losses as of March 31, 2024 $ 15,000 Change in provision for current expected credit losses - Allowance for credit losses as of December 31, 2024 $ 15,000

NOTE 4. NET INCOME PER SHARE_ S

NOTE 4. NET INCOME PER SHARE: Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	Quarter Ended December 31, 2024 2023 Weighted average common shares outstanding – basic 4,835,262 4,833,401 Dilutive effect of stock options 3,862 3,829 Shares used in computing net income per share – diluted 4,839,124 4,837,230 Nine Months Ended December 31, 2024 2023 Weighted average common shares outstanding – basic 4,834,382 4,832,992 Dilutive effect of stock options 4,865 6,733 Shares used in computing net income per share – diluted 4,839,247 4,839,725

NOTE 5. MARKETABLE SECURITIES_

NOTE 5. MARKETABLE SECURITIES: Contractual maturities of marketable securities (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Contractual maturities of marketable securities	Total <1 Year 1–3 Years 3–5 Years Money market funds $ 5,109,218 $ 5,109,218 $ - $ - Treasury securities 4,686,781 - 4,686,781 - Corporate bonds 39,924,838 14,907,252 17,149,882 7,867,704 Total $ 49,720,837 $ 20,016,470 $ 21,836,663 $ 7,867,704

NOTE 5. MARKETABLE SECURITIES_2

NOTE 5. MARKETABLE SECURITIES: Fair values of our marketable securities aggregated by credit rating (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Fair values of our marketable securities aggregated by credit rating	Credit Rating Fair Value AAA $ 9,795,999 AA+ 3,877,878 AA 9,755,138 AA- 18,408,078 A+ 2,915,398 A 4,968,346 Total $ 49,720,837

NOTE 5. MARKETABLE SECURITIES_3

NOTE 5. MARKETABLE SECURITIES: Estimated fair value of marketable securities aggregated by fair value hierarchy inputs used in estimating their fair values (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Estimated fair value of marketable securities aggregated by fair value hierarchy inputs used in estimating their fair values	As of December 31, 2024 As of March 31, 2024 Level 1 Level 2 Total Level 1 Level 2 Total Money market funds $ 5,109,218 $ - $ 5,109,218 $ 9,842,796 $ - $ 9,842,796 Treasury securities - 4,686,781 4,686,781 - - - Corporate bonds - 39,924,838 39,924,838 - 42,706,080 42,706,080 Total $ 5,109,218 $ 44,611,619 $ 49,720,837 $ 9,842,796 $ 42,706,080 $ 52,548,876

NOTE 5. MARKETABLE SECURITIES_4

NOTE 5. MARKETABLE SECURITIES: Amortized cost, fair value and gross unrealized holding gains and losses of marketable securities (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Amortized cost, fair value and gross unrealized holding gains and losses of marketable securities	As of December 31, 2024 As of March 31, 2024 Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value Money market funds $ 5,109,218 $ - $ - $ 5,109,218 $ 9,842,796 $ - $ - $ 9,842,796 Treasury securities 4,699,645 - (12,864 ) 4,686,781 - - - - Corporate bonds 40,289,749 40,688 (405,599 ) 39,924,838 43,701,520 930 (996,370 ) 42,706,080 Total $ 50,098,612 $ 40,688 $ (418,463 ) $ 49,720,837 $ 53,544,316 $ 930 $ (996,370 ) $ 52,548,876

NOTE 5. MARKETABLE SECURITIES_5

NOTE 5. MARKETABLE SECURITIES: Gross unrealized holding losses and estimated fair value of marketable securities for which an allowance for credit losses has not been recorded (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Gross unrealized holding losses and estimated fair value of marketable securities for which an allowance for credit losses has not been recorded	Less Than 12 Months 12 Months or Greater Total Estimated Fair Value Gross Unrealized Holding Losses Estimated Fair Value Gross Unrealized Holding Losses Estimated Fair Value Gross Unrealized Holding Losses As of December 31, 2024 Treasury securities $ 4,686,781 $ (12,864 ) $ - $ - 4,686,781 (12,864 ) Corporate bonds 7,364,614 (97,789 ) 25,812,127 (307,810 ) $ 33,176,741 $ (405,599 ) Total $ 12,051,395 $ (110,653 ) $ 25,812,127 $ (307,810 ) $ 37,863,522 $ (418,463 ) As of March 31, 2024 Corporate bonds $ 3,154,764 $ (4,902 ) $ 36,551,534 $ (991,468 ) $ 39,706,298 $ (996,370 ) Total $ 3,154,764 $ (4,902 ) $ 36,551,534 $ (991,468 ) $ 39,706,298 $ (996,370 )

NOTE 5. MARKETABLE SECURITIES_6

NOTE 5. MARKETABLE SECURITIES: Unrealized losses on marketable securities and their tax effects (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Unrealized losses on marketable securities and their tax effects	Quarter Ended December 31, 2024 2023 Unrealized gain (loss) on marketable securities $ (290,384 ) $ 958,564 Tax effects 63,536 (209,734 ) Unrealized gain (loss) on marketable securities, net of tax $ (226,848 ) $ 748,830 Nine Months Ended December 31, 2024 2023 Unrealized gain from marketable securities $ 617,665 $ 589,530 Tax effects (135,386 ) (128,989 ) Unrealized gain on marketable securities, net of tax $ 482,279 $ 460,541

NOTE 7. INVENTORIES_ Schedule o

NOTE 7. INVENTORIES: Schedule of Inventory (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Schedule of Inventory	Dec. 31, 2024 March 31, 2024 Raw materials $ 1,742,871 $ 1,982,657 Work in process 3,795,112 2,641,085 Finished goods 2,249,641 2,534,843 Total inventories $ 7,787,624 $ 7,158,585

NOTE 8. STOCK-BASED COMPENSAT_2

NOTE 8. STOCK-BASED COMPENSATION: Schedule of Stock-based Compensation (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Schedule of Stock-based Compensation	Quarter Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Stock options grant - 4,000 6,500 6,500 Stock options exercised 8,000 - 9,000 4,000

NOTE 10. LEASES_ Lease, Cost (T

NOTE 10. LEASES: Lease, Cost (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Lease, Cost	Quarter Ended December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Operating lease cost $ 44,727 37,754 $ 120,235 113,261 Cash paid for amounts included Operating cash flows for leases $ 45,341 44,433 $ 136,023 133,299 Right-of-use assets obtained in exchange for new lease liabilities Operating lease $ 710,665 - - - Remaining lease term 78 months 78 months Discount rate 7.8 % 7.8 %

NOTE 10. LEASES_ Lessee, Operat

NOTE 10. LEASES: Lessee, Operating Lease, Liability, Maturity (Tables)	9 Months Ended
	Dec. 31, 2024
Tables/Schedules
Lessee, Operating Lease, Liability, Maturity	Year Ending March 31, Operating Lease Liabilities 2025 46,249 2026 84,995 2027 172,142 2028 213,284 2029 220,216 2030 227,373 2031 234,762 2032 40,399 Total lease payments 1,239,420 Imputed lease interest (289,616 ) Total lease liabilities $ 949,804

NOTE 4. NET INCOME PER SHARE__2

NOTE 4. NET INCOME PER SHARE: Schedule of Earnings Per Share, Basic and Diluted (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Weighted Average Number of Shares Outstanding, Basic	4,835,262	4,833,401	4,834,382	4,832,992
Dilutive effect of stock options	3,862	3,829	4,865	6,733
Shares used in computing net income per share - diluted	4,839,124	4,837,230	4,839,247	4,839,725

NOTE 5. MARKETABLE SECURITIES_7

NOTE 5. MARKETABLE SECURITIES: Contractual maturities of marketable securities (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Marketable Securities	$ 49,720,837	$ 52,548,876
(1 Year	20,016,470
1-3 Years	21,836,663
3-5 Years	7,867,704
Money Market Funds
Marketable Securities	5,109,218	9,842,796
(1 Year	5,109,218
1-3 Years	0
3-5 Years	0
US Treasury Securities
Marketable Securities	4,686,781	0
(1 Year	0
1-3 Years	4,686,781
3-5 Years	0
Corporate Bond Securities
Marketable Securities	39,924,838	$ 42,706,080
(1 Year	14,907,252
1-3 Years	17,149,882
3-5 Years	$ 7,867,704

NOTE 5. MARKETABLE SECURITIES (

NOTE 5. MARKETABLE SECURITIES (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Details
Debt Securities, Available-for-Sale, Excluding Accrued Interest	$ 354,529	$ 460,627

NOTE 5. MARKETABLE SECURITIES_8

NOTE 5. MARKETABLE SECURITIES: Fair values of our marketable securities aggregated by credit rating (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Marketable Securities	$ 49,720,837	$ 52,548,876
Standard & Poor's, AAA Rating
Marketable Securities	9,795,999
Standard & Poor's, AA+ Rating
Marketable Securities	3,877,878
Standard & Poor's, AA Rating
Marketable Securities	9,755,138
Standard & Poor's, AA- Rating
Marketable Securities	18,408,078
Standard & Poor's, A+ Rating
Marketable Securities	2,915,398
Standard & Poor's, A Rating
Marketable Securities	$ 4,968,346

NOTE 5. MARKETABLE SECURITIES_9

NOTE 5. MARKETABLE SECURITIES: Estimated fair value of marketable securities aggregated by fair value hierarchy inputs used in estimating their fair values (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Marketable Securities	$ 49,720,837	$ 52,548,876
Money Market Funds
Marketable Securities	5,109,218	9,842,796
US Treasury Securities
Marketable Securities	4,686,781	0
Corporate Bond Securities
Marketable Securities	39,924,838	42,706,080
Fair Value, Inputs, Level 1
Marketable Securities	5,109,218	9,842,796
Fair Value, Inputs, Level 1 | Money Market Funds
Marketable Securities	5,109,218	9,842,796
Fair Value, Inputs, Level 1 | US Treasury Securities
Marketable Securities	0	0
Fair Value, Inputs, Level 1 | Corporate Bond Securities
Marketable Securities	0	0
Fair Value, Inputs, Level 2
Marketable Securities	44,611,619	42,706,080
Fair Value, Inputs, Level 2 | Money Market Funds
Marketable Securities	0	0
Fair Value, Inputs, Level 2 | US Treasury Securities
Marketable Securities	4,686,781	0
Fair Value, Inputs, Level 2 | Corporate Bond Securities
Marketable Securities	$ 39,924,838	$ 42,706,080

NOTE 5. MARKETABLE SECURITIE_10

NOTE 5. MARKETABLE SECURITIES: Amortized cost, fair value and gross unrealized holding gains and losses of marketable securities (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Amortized Cost	$ 50,098,612	$ 53,544,316
Gross Unrealized Holding Gains	40,688	930
Gross Unrealized Holding Losses	(418,463)	(996,370)
Marketable Securities	49,720,837	52,548,876
Money Market Funds
Amortized Cost	5,109,218	9,842,796
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	0	0
Marketable Securities	5,109,218	9,842,796
US Treasury Securities
Amortized Cost	4,699,645	0
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	(12,864)	0
Marketable Securities	4,686,781	0
Corporate Bond Securities
Amortized Cost	40,289,749	43,701,520
Gross Unrealized Holding Gains	40,688	930
Gross Unrealized Holding Losses	(405,599)	(996,370)
Marketable Securities	$ 39,924,838	$ 42,706,080

NOTE 5. MARKETABLE SECURITIE_11

NOTE 5. MARKETABLE SECURITIES: Gross unrealized holding losses and estimated fair value of marketable securities for which an allowance for credit losses has not been recorded (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Estimated Fair Value	$ 12,051,395	$ 3,154,764
Gross Unrealized Holding Losses	(110,653)	(4,902)
Estimated Fair Value	25,812,127	36,551,534
Gross Unrealized Holding Losses	(307,810)	(991,468)
Estimated Fair Value	37,863,522	39,706,298
Gross Unrealized Holding Losses	(418,463)	(996,370)
US Treasury Securities
Estimated Fair Value	4,686,781
Gross Unrealized Holding Losses	(12,864)
Estimated Fair Value	0
Gross Unrealized Holding Losses	0
Estimated Fair Value	4,686,781
Gross Unrealized Holding Losses	(12,864)
Corporate Bond Securities
Estimated Fair Value	7,364,614	3,154,764
Gross Unrealized Holding Losses	(97,789)	(4,902)
Estimated Fair Value	25,812,127	36,551,534
Gross Unrealized Holding Losses	(307,810)	(991,468)
Estimated Fair Value	33,176,741	39,706,298
Gross Unrealized Holding Losses	$ (405,599)	$ (996,370)

NOTE 5. MARKETABLE SECURITIE_12

NOTE 5. MARKETABLE SECURITIES: Unrealized losses on marketable securities and their tax effects (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Unrealized loss from marketable securities	$ (290,384)	$ 958,564	$ 617,665	$ 589,530
Tax effects	63,536	(209,734)	(135,386)	(128,989)
Unrealized loss from marketable securities, net of tax	$ (226,848)	$ 748,830	$ 482,279	$ 460,541

NOTE 6. ALLOWANCE FOR CREDIT _3

NOTE 6. ALLOWANCE FOR CREDIT LOSSES ON ACCOUNTS RECEIVABLES: Schedule of Accounts, Notes, Loans and Financing Receivable (Details)	9 Months Ended
	Dec. 31, 2024 USD ($)
Details
Allowance for credit losses as of March 31, 2024	$ 15,000
Change in provision for current expected credit losses	0
Allowance for credit losses as of December 31, 2024	$ 15,000

NOTE 7. INVENTORIES_ Schedule_2

NOTE 7. INVENTORIES: Schedule of Inventory (Details) - USD ($)	Dec. 31, 2024	Mar. 31, 2024
Details
Raw materials	$ 1,742,871	$ 1,982,657
Work in process	3,795,112	2,641,085
Finished goods	2,249,641	2,534,843
Inventories	$ 7,787,624	$ 7,158,585

NOTE 8. STOCK-BASED COMPENSAT_3

NOTE 8. STOCK-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Share-Based Payment Arrangement, Expense	$ 14,261	$ 12,544	$ 137,906	$ 129,392
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term, Simplified Method			Black-Scholes-Merton standard option-pricing model
Deferred Compensation Arrangement with Individual, Shares Issued	1,146		1,490	575

NOTE 8. STOCK-BASED COMPENSAT_4

NOTE 8. STOCK-BASED COMPENSATION: Schedule of Stock-based Compensation (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Stock options grant	0	4,000	6,500	6,500
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	8,000	0	9,000	4,000

NOTE 9. INCOME TAXES (Details)

NOTE 9. INCOME TAXES (Details)	Dec. 31, 2024 USD ($)
Details
Accrued Income Taxes	$ 301,246
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

NOTE 10. LEASES_ Lease, Cost (D

NOTE 10. LEASES: Lease, Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Operating lease cost	$ 44,727	$ 37,754	$ 120,235	$ 113,261
Operating cash flows for leases	45,341	44,433	136,023	133,299
Right of use assets obtained in exchange for new lease liabilities Operating lease	$ 710,665	$ 0	$ 0	$ 0
Remaining lease term	78 months		78 months
Discount rate	7.80%		7.80%

NOTE 10. LEASES_ Lessee, Oper_2

NOTE 10. LEASES: Lessee, Operating Lease, Liability, Maturity (Details)	Dec. 31, 2024 USD ($)
Details
2025	$ 46,249
2026	84,995
2027	172,142
2028	213,284
2029	220,216
Lessee Operating Lease Liability Payments due Year Six	227,373
Lessee Operating Lease Liability Payments due Year Seven	234,762
Lessee Operating Lease Liability Payments due Year Eight	40,399
Total lease payments	1,239,420
Imputed lease interest	(289,616)
Total lease liabilities	$ 949,804

NOTE 11. STOCK REPURCHASE PRO_2

NOTE 11. STOCK REPURCHASE PROGRAM (Details) - USD ($)	9 Months Ended
	Dec. 31, 2024	Jan. 21, 2009
Details
Share Repurchase Program, Authorized, Amount		$ 2,500,000
Share Repurchase Program, Remaining Authorized, Amount	$ 3,520,369
Treasury Stock, Shares, Acquired	0

NOTE 12. INFORMATION AS TO EM_2

NOTE 12. INFORMATION AS TO EMPLOYEE STOCK PURCHASE, SAVINGS, AND SIMILAR PLANS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			100%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent			3%
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 22,375	$ 27,904	$ 72,442	$ 79,388

NOTE 13. SUBSEQUENT EVENTS (Det

NOTE 13. SUBSEQUENT EVENTS (Details) - $ / shares		3 Months Ended		9 Months Ended
	Jan. 22, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2023
Details
Subsequent Event, Date	Jan. 22, 2025
Subsequent Event, Description	we announced that our Board of Directors had declared a quarterly cash dividend
Cash dividends declared per common share	$ 1	$ 1	$ 1	$ 3	$ 3
Dividends Payable, Date to be Paid	Feb. 28, 2025
Dividends Payable, Date of Record	Feb. 03, 2025