NVE (NVEC) 10-Q 20 Jul 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Jun. 30, 2022	Jul. 15, 2022
Document Information [Line Items]
Entity Central Index Key	0000724910
Entity Registrant Name	NVE CORP /NEW/
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	000-12196
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-1424202
Entity Address, Address Line One	11409 Valley View Road
Entity Address, City or Town	Eden Prairie
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55344
City Area Code	952
Local Phone Number	829-9217
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 Common Stock, Shares Outstanding		4,830,826

Balance Sheets (Current Period

Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	[1]
Current assets
Cash and cash equivalents	$ 13,299,264	$ 10,449,510
Marketable securities, short-term	14,888,372	20,839,683
Accounts receivable, net of allowance for uncollectible accounts of $15,000	3,513,216	4,704,829
Inventories	5,544,037	5,088,635
Prepaid expenses and other assets	721,989	420,520
Total current assets	37,966,878	41,503,177
Fixed assets
Machinery and equipment	9,603,049	9,739,244
Leasehold improvements	1,826,334	1,810,872
Property, Plant and Equipment, Gross, Ending Balance	11,429,383	11,550,116
Less accumulated depreciation and amortization	10,945,847	10,943,731
Net fixed assets	483,536	606,385
Deferred tax assets	578,291	483,469
Marketable securities, long-term	25,517,937	24,314,211
Right-of-use asset – operating lease	527,553	560,250
Total assets	65,074,195	67,467,492
Current liabilities
Accounts payable	295,443	943,535
Accrued payroll and other	667,372	1,356,689
Operating lease	156,975	156,121
Total current liabilities	1,119,790	2,456,345
Operating lease	411,405	446,018
Total liabilities	1,531,195	2,902,363
Shareholders’ equity
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,830,826 issued and outstanding as of June 30 and March 31, 2022	48,308	48,308
Additional paid-in capital	19,263,619	19,256,485
Accumulated other comprehensive income	(656,673)	(318,120)
Retained earnings	44,887,746	45,578,456
Total shareholders’ equity	63,543,000	64,565,129
Total liabilities and shareholders’ equity	$ 65,074,195	$ 67,467,492
[1]The March 31, 2021 Balance Sheet is derived from the audited financial statements contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.

Balance Sheets (Current Perio_2

Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	[1]
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)	4,830,826	4,830,826
Common stock, shares outstanding (in shares)	4,830,826	4,830,826
[1]The March 31, 2021 Balance Sheet is derived from the audited financial statements contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.

Statements of Income (Unaudited

Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue	$ 7,336,407	$ 7,153,163
Cost of sales	1,651,847	1,769,581
Gross profit	5,684,560	5,383,582
Expenses
Research and development	601,918	808,142
Selling, general, and administrative	371,320	466,618
Total expenses	973,238	1,274,760
Income from operations	4,711,322	4,108,822
Interest income	283,059	289,720
Income before taxes	4,994,381	4,398,542
Provision for income taxes	854,265	818,976
Net income	$ 4,140,116	$ 3,579,566
Net income per share – basic (in dollars per share)	$ 0.86	$ 0.74
Net income per share – diluted (in dollars per share)	0.86	0.74
Cash dividends declared per common share (in dollars per share)	$ 1	$ 1
Weighted average shares outstanding
Weighted average common shares outstanding – basic (in shares)	4,830,826	4,833,232
Diluted (in shares)	4,830,871	4,836,821
Product [Member]
Revenue	$ 7,072,961	$ 6,953,766
Contract Research and Development [Member]
Revenue	$ 263,446	$ 199,397

Statements of Comprehensive Inc

Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 4,140,116	$ 3,579,566
Unrealized loss from marketable securities, net of tax	(338,553)	(90,165)
Comprehensive income	$ 3,801,563	$ 3,489,401

Statements of Shareholders' Equ

Statements of Shareholders' Equity (Unaudited) - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Mar. 31, 2021		4,833,232
Balance at Mar. 31, 2021		$ 48,332	$ 19,338,127	$ 1,101,119	$ 50,404,364	$ 70,891,942
Unrealized gain (loss) on marketable securities, net of tax				(90,165)		(90,165)
Net income					3,579,566	3,579,566
Total comprehensive income						3,489,401
Stock-based compensation			7,238			7,238
Cash dividends declared ($1.00 per share of common stock)					(4,833,232)	(4,833,232)
Balance (in shares) at Jun. 30, 2021	4,833,232
Balance at Jun. 30, 2021		$ 48,332	19,345,365	1,010,954	49,150,698	69,555,349
Balance (in shares) at Mar. 31, 2022		4,830,826
Balance at Mar. 31, 2022		$ 48,308	19,256,485	(318,120)	45,578,456	64,565,129	[1]
Unrealized gain (loss) on marketable securities, net of tax				(338,553)		(338,553)
Net income					4,140,116	4,140,116
Total comprehensive income						3,801,563
Stock-based compensation			7,134			7,134
Cash dividends declared ($1.00 per share of common stock)					(4,830,826)	(4,830,826)
Balance (in shares) at Jun. 30, 2022	4,830,826
Balance at Jun. 30, 2022		$ 48,308	$ 19,263,619	$ (656,673)	$ 44,887,746	$ 63,543,000
[1]The March 31, 2021 Balance Sheet is derived from the audited financial statements contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.

Statements of Shareholders' E_2

Statements of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Common stock per share (in dollars per share)	$ 1	$ 1

Statements of Cash Flows (Unaud

Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Net income	$ 4,140,116	$ 3,579,566
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	87,621	140,427
Stock-based compensation	7,134	7,238
Deferred income taxes	1	(2,868)
Changes in operating assets and liabilities:
Accounts receivable	1,191,613	(1,355,557)
Inventories	(455,402)	230,751
Prepaid expenses and other assets	(268,772)	(235,406)
Accounts payable and other liabilities	(1,371,168)	936,243
Net cash provided by operating activities	3,331,143	3,300,394
INVESTING ACTIVITIES
Purchases of fixed assets	(24,500)	(25,679)
Purchases of marketable securities	(4,976,063)	0
Proceeds from maturities of marketable securities	9,250,000	0
Receipt of tenant improvement allowance	(100,000)	0
Net cash provided (used) by investing activities	4,349,437	(25,679)
FINANCING ACTIVITIES
Payment of dividends to shareholders	(4,830,826)	(4,833,232)
Cash used in financing activities	(4,830,826)	(4,833,232)
Increase (decrease) in cash and cash equivalents	2,849,754	(1,558,517)
Cash and cash equivalents at beginning of period	10,449,510	10,427,340
Cash and cash equivalents at end of period	13,299,264	8,868,823
Supplemental disclosures of cash flow information:
Cash paid during the period for income taxes	$ 1,275,629	$ 0

Note 1 - Description of Busines

Note 1 - Description of Business	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	NOTE 1. 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

Note 2 - Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	NOTE 2. 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 10 March 31, 2022. June 30, 2022 not may March 31, 2023. Significant accounting policies A description of our significant accounting policies is provided in Note 2 10 March 31, 2022. June 30, 2022, no

Note 3 - Recently Issued Accoun

Note 3 - Recently Issued Accounting Standards	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	NOTE 3. Recently Adopted Accounting Standard In May 2021, No. 2021 04, Earnings Per Share (Topic 260 470 50 718 815 40 2021 04 2021 04 June 30, 2022. no New Accounting Standard Not In June 2016, No. 2016 13, Financial Instruments-Credit Losses (Topic 326 2016 13 November 2018 No. 2018 19, Codification Improvements to Topic 326, November 2019, No. 2019 11, Codification Improvements to Topic 326, 2016 13. November 2019 No. 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 February 2020 No. 2020 02, Financial Instruments Credit Losses (Topic 326 842 No. 119 No. 2016 02, 842 2016 13 three March 2020, No. 2020 03, Codification Improvements to Financial Instruments 2019 10 2020 02, 2016 13 December 15, 2022 2024 2016 13

Note 4 - Net Income Per Share

Note 4 - Net Income Per Share	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 4. 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 June 30 2022 2021 Weighted average common shares outstanding – basic 4,830,826 4,833,232 Dilutive effect of stock options 45 3,589 Shares used in computing net income per share – diluted 4,830,871 4,836,821

Note 5 - Fair Value of Financia

Note 5 - Fair Value of Financial Instruments	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE 5. Our corporate bonds and money market funds are classified as available-for-sale securities and carried at estimated fair value. Unrealized holding gains and losses are included in accumulated other comprehensive income (loss) in the statement of shareholders’ equity. Corporate bonds with remaining maturities less than one one three Contractual maturities of available-for-sale securities as of June 30, 2022 Total <1 Year 1–3 Years 3–5 Years $ 51,663,939 $ 26,146,002 $ 25,517,937 $ - Total available-for-sale securities represented approximately 79% of our total assets. Marketable securities as of June 30, 2022 three three Generally accepted accounting principles establish a framework for measuring fair value, provide a definition of fair value, and prescribe required disclosures about fair-value measurements. Generally accepted accounting principles define fair value as the price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. Generally accepted accounting principles utilize a valuation hierarchy for disclosure of fair value measurements. The categorization within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The categories within the valuation hierarchy are described as follows: Level 1 Level 2 2 Level 3 Money market funds are included on the balance sheets in “Cash and cash equivalents.” Corporate bonds are included on the balance sheets in “Marketable securities, short term” and “Marketable securities, long term.” The following table shows the estimated fair value of assets that were accounted for at fair value on a recurring basis: As of June 30, 2022 As of March 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total Money market funds $ 11,257,630 $ - $ 11,257,630 $ 6,756,993 $ - $ 6,756,993 Corporate bonds - 40,406,309 40,406,309 - 45,153,894 45,153,894 Total $ 11,257,630 $ 40,406,309 $ 51,663,939 $ 6,756,993 $ 45,153,894 $ 51,910,887 Our available-for-sale securities as of June 30 March 31, 2022, As of June 30, 2022 As of March 31, 2022 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 $ 11,257,630 $ - $ - $ 11,257,630 $ 6,756,993 $ - $ - $ 6,756,993 Corporate bonds 41,246,905 25,066 (865,662 ) 40,406,309 45,561,114 230,085 (637,305 ) 45,153,894 Total $ 52,504,535 $ 25,066 $ (865,662 ) $ 51,663,939 $ 52,318,107 $ 230,085 $ (637,305 ) $ 51,910,887 The following table shows the gross unrealized holding losses and fair value of our available-for-sale securities with unrealized holding losses, aggregated by class of securities and length of time that individual securities had been in a continuous unrealized loss position as of June 30 March 31, 2022. 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 June 30, 2022 Corporate bonds $ 8,981,072 $ (100,920 ) $ 9,554,349 $ (764,742 ) $ 18,535,421 $ (865,662 ) Total $ 8,981,072 $ (100,920 ) $ 9,554,349 $ (764,742 ) $ 18,535,421 $ (865,662 ) As of March 31, 2022 Corporate bonds $ 6,306,750 $ (23,727 ) $ 9,738,338 $ (613,578 ) $ 16,045,088 $ (637,305 ) Total $ 6,306,750 $ (23,727 ) $ 9,738,338 $ (613,578 ) $ 16,045,088 $ (637,305 ) None not not not not June 30, 2022.

Note 6 - Inventories

Note 6 - Inventories	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 6. Inventories are shown in the following table: June 30, 2022 March 31, 2022 Raw materials $ 988,317 $ 987,062 Work in process 3,863,801 3,355,838 Finished goods 691,919 745,735 Total inventories $ 5,544,037 $ 5,088,635

Note 7 - Stock-based Compensati

Note 7 - Stock-based Compensation	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	NOTE 7. Stock-based compensation expense was $7,134 for the first 2023 first 2022.

Note 8 - Income Taxes

Note 8 - Income Taxes	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 8. 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. We had no June 30, 2022, not 12 June 30, 2022 no 2018 2022

Note 9 - Leases

Note 9 - Leases	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE 9. We conduct our operations in a leased facility under a non-cancellable lease expiring March 31, 2026. not Quarter Ended June 30, 2022 Operating lease cost $ 42,515 Variable lease cost 31,190 Total $ 73,705 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for leases $ 44,433 Remaining lease term 45 months Discount rate 3.5 The following table presents the maturities of lease liabilities as of June 30, 2022: Year Ending March 31 Operating Leases 2023 117,304 2024 159,592 2025 163,224 2026 165,947 Total lease payments 606,067 Imputed lease interest (37,687 ) Total lease liabilities $ 568,380

Note 10 - Stock Repurchase Prog

Note 10 - Stock Repurchase Program	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Stock Repurchase Plan Disclosure [Text Block]	NOTE 10. On January 21, 2009 August 27, 2015, not not may June 30, 2022. not first 2023.

Note 11 - Information As to Emp

Note 11 - Information As to Employee Stock Purchase, Savings, and Similar Plans	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	NOTE 11. All of our employees are eligible to participate in our 401 first 21. may first $ f first 2023 first 20 22

Note 12 - Subsequent Events

Note 12 - Subsequent Events	3 Months Ended
	Jun. 30, 2022
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 12. On July 20, 2022 August 31, 2022 August 1, 2022

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	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 10 March 31, 2022. June 30, 2022 not may March 31, 2023.

Note 4 - Net Income Per Share (

Note 4 - Net Income Per Share (Tables)	3 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Weighted Average Number of Shares [Table Text Block]	Quarter Ended June 30 2022 2021 Weighted average common shares outstanding – basic 4,830,826 4,833,232 Dilutive effect of stock options 45 3,589 Shares used in computing net income per share – diluted 4,830,871 4,836,821

Note 5 - Fair Value of Financ_2

Note 5 - Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2022
Notes Tables
Investments Classified by Contractual Maturity Date [Table Text Block]	Total <1 Year 1–3 Years 3–5 Years $ 51,663,939 $ 26,146,002 $ 25,517,937 $ -
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	As of June 30, 2022 As of March 31, 2022 Level 1 Level 2 Total Level 1 Level 2 Total Money market funds $ 11,257,630 $ - $ 11,257,630 $ 6,756,993 $ - $ 6,756,993 Corporate bonds - 40,406,309 40,406,309 - 45,153,894 45,153,894 Total $ 11,257,630 $ 40,406,309 $ 51,663,939 $ 6,756,993 $ 45,153,894 $ 51,910,887
Schedule of Available-for-Sale Securities Reconciliation [Table Text Block]	As of June 30, 2022 As of March 31, 2022 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 $ 11,257,630 $ - $ - $ 11,257,630 $ 6,756,993 $ - $ - $ 6,756,993 Corporate bonds 41,246,905 25,066 (865,662 ) 40,406,309 45,561,114 230,085 (637,305 ) 45,153,894 Total $ 52,504,535 $ 25,066 $ (865,662 ) $ 51,663,939 $ 52,318,107 $ 230,085 $ (637,305 ) $ 51,910,887
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block]	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 June 30, 2022 Corporate bonds $ 8,981,072 $ (100,920 ) $ 9,554,349 $ (764,742 ) $ 18,535,421 $ (865,662 ) Total $ 8,981,072 $ (100,920 ) $ 9,554,349 $ (764,742 ) $ 18,535,421 $ (865,662 ) As of March 31, 2022 Corporate bonds $ 6,306,750 $ (23,727 ) $ 9,738,338 $ (613,578 ) $ 16,045,088 $ (637,305 ) Total $ 6,306,750 $ (23,727 ) $ 9,738,338 $ (613,578 ) $ 16,045,088 $ (637,305 )

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	3 Months Ended
	Jun. 30, 2022
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2022 March 31, 2022 Raw materials $ 988,317 $ 987,062 Work in process 3,863,801 3,355,838 Finished goods 691,919 745,735 Total inventories $ 5,544,037 $ 5,088,635

Note 9 - Leases (Tables)

Note 9 - Leases (Tables)	3 Months Ended
	Jun. 30, 2022
Notes Tables
Lease, Cost [Table Text Block]	Quarter Ended June 30, 2022 Operating lease cost $ 42,515 Variable lease cost 31,190 Total $ 73,705 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows for leases $ 44,433 Remaining lease term 45 months Discount rate 3.5
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Ending March 31 Operating Leases 2023 117,304 2024 159,592 2025 163,224 2026 165,947 Total lease payments 606,067 Imputed lease interest (37,687 ) Total lease liabilities $ 568,380

Note 4 - Net Income Per Share -

Note 4 - Net Income Per Share - Components of Common Shares Outstanding (Details) - shares	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Weighted average common shares outstanding – basic (in shares)	4,830,826	4,833,232
Dilutive effect of stock options (in shares)	45	3,589
Shares used in computing net income per share – diluted (in shares)	4,830,871	4,836,821

Note 5 - Fair Value of Financ_3

Note 5 - Fair Value of Financial Instruments (Details Textual)	3 Months Ended
	Jun. 30, 2022
Available for Sale Debt Securitites, Percent of Total Assets	79%
Number of Other-than-temporarily Impaired Available-for-sale Securities	0
Number of Other-than-temporarily Impaired Marketable Securities	0
Minimum [Member]
Available for Sale Debt Securities, Remaining Maturity (Week)	21 days
Maximum [Member]
Available for Sale Debt Securities, Remaining Maturity (Week)	3 years

Note 5 - Fair Value of Financ_4

Note 5 - Fair Value of Financial Instruments - Fair Value of Available-for-sale Securities (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Total	$ 51,663,939	$ 51,910,887
Less than 1 year	26,146,002
1-3 years	25,517,937
3-5 years	$ 0

Note 5 - Fair Value of Financ_5

Note 5 - Fair Value of Financial Instruments - Assets Measured on Recurring Basis (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Total	$ 51,663,939	$ 51,910,887
Money Market Funds [Member]
Total	11,257,630	6,756,993
Corporate Bond Securities [Member]
Total	40,406,309	45,153,894
Fair Value, Recurring [Member]
Total	51,663,939	51,910,887
Fair Value, Recurring [Member] | Money Market Funds [Member]
Total	11,257,630	6,756,993
Fair Value, Recurring [Member] | Corporate Bond Securities [Member]
Total	40,406,309	45,153,894
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Total	11,257,630	6,756,993
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Total	11,257,630	6,756,993
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Bond Securities [Member]
Total	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Total	40,406,309	45,153,894
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member]
Total	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Bond Securities [Member]
Total	$ 40,406,309	$ 45,153,894

Note 5 - Fair Value of Financ_6

Note 5 - Fair Value of Financial Instruments - Reconciliation of Available-for-sale Securities (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Amortized Cost	$ 52,504,535	$ 52,318,107
Gross Unrealized Holding Gains	25,066	230,085
Gross Unrealized Holding Losses	(865,662)	(637,305)
Estimated Fair Value	51,663,939	51,910,887
Money Market Funds [Member]
Amortized Cost	11,257,630	6,756,993
Gross Unrealized Holding Gains	0	0
Gross Unrealized Holding Losses	0	0
Estimated Fair Value	11,257,630	6,756,993
Corporate Bond Securities [Member]
Amortized Cost	41,246,905	45,561,114
Gross Unrealized Holding Gains	25,066	230,085
Gross Unrealized Holding Losses	(865,662)	(637,305)
Estimated Fair Value	$ 40,406,309	$ 45,153,894

Note 5 - Fair Value of Financ_7

Note 5 - Fair Value of Financial Instruments - Investment Securities With Unrealized Losses (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Fair market value, less than 12 months	$ 8,981,072	$ 6,306,750
Gross unrealized losses, less than 12 months	(100,920)	(23,727)
Fair market value, 12 months or greater	9,554,349	9,738,338
Gross unrealized losses, 12 months or greater	(764,742)	(613,578)
Total fair market value	18,535,421	16,045,088
Total gross unrealized losses	(865,662)	(637,305)
Corporate Bond Securities [Member]
Fair market value, less than 12 months	8,981,072	6,306,750
Gross unrealized losses, less than 12 months	(100,920)	(23,727)
Fair market value, 12 months or greater	9,554,349	9,738,338
Gross unrealized losses, 12 months or greater	(764,742)	(613,578)
Total fair market value	18,535,421	16,045,088
Total gross unrealized losses	$ (865,662)	$ (637,305)

Note 6 - Inventories - Summary

Note 6 - Inventories - Summary of Inventories (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022
Raw materials	$ 988,317	$ 987,062
Work in process	3,863,801	3,355,838
Finished goods	691,919	745,735
Total inventories	$ 5,544,037	$ 5,088,635	[1]
[1]The March 31, 2021 Balance Sheet is derived from the audited financial statements contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2021.

Note 7 - Stock-based Compensa_2

Note 7 - Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement, Expense	$ 7,134	$ 7,238

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) $ in Thousands	3 Months Ended
	Jun. 30, 2022 USD ($)
Unrecognized Tax Benefits, Ending Balance	$ 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	2018 2019 2020 2021 2022

Note 9 - Leases - Operating Lea

Note 9 - Leases - Operating Lease (Details)	3 Months Ended
	Jun. 30, 2022 USD ($)
Operating lease cost	$ 42,515
Variable lease cost	31,190
Total	73,705
Operating cash flows for leases	$ 44,433
Remaining lease term (Month)	45 months
Discount rate	3.50%

Note 9 - Leases - Maturities of

Note 9 - Leases - Maturities of Lease Liabilities (Details)	Jun. 30, 2022 USD ($)
2023	$ 117,304
2024	159,592
2025	163,224
2026	165,947
Total lease payments	606,067
Imputed lease interest	(37,687)
Total lease liabilities	$ 568,380

Note 10 - Stock Repurchase Pr_2

Note 10 - Stock Repurchase Program (Details Textual) - Repurchase Program 2009 [Member] - USD ($) shares in Thousands	3 Months Ended
	Jun. 30, 2022	Aug. 27, 2015	Jan. 21, 2009
Stock Repurchase Program, Authorized Amount			$ 2,500,000
Stock Repurchase Program Authorized Additional Amount		$ 5,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 3,598,519
Treasury Stock, Shares, Acquired (in shares)	0

Note 11 - Information As to E_2

Note 11 - Information As to Employee Stock Purchase, Savings, and Similar Plans (Details Textual) - USD ($)	3 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
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	$ 28,426	$ 28,584

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - $ / shares		3 Months Ended
	Jul. 20, 2022	Jun. 30, 2022	Jun. 30, 2021
Common Stock, Dividends, Per Share, Declared (in dollars per share)		$ 1	$ 1
Subsequent Event [Member]
Common Stock, Dividends, Per Share, Declared (in dollars per share)	$ 1
Dividends Payable, Date to be Paid	Aug. 31, 2022
Dividends Payable, Date of Record	Aug. 01, 2022