Cyanotech (CYAN) 10-K 1 Jul 19 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Mar. 31, 2019	Jun. 17, 2019	Sep. 30, 2018
Document Information [Line Items]
Entity Registrant Name	Cyanotech Corp
Entity Central Index Key	0000768408
Trading Symbol	cyan
Current Fiscal Year End Date	--03-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		5,889,582
Entity Public Float			$ 10,163,739
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Mar. 31, 2018
Current assets:
Cash	$ 840,000	$ 1,329,000
Accounts receivable, net of allowance for doubtful accounts of $27 in 2019 and $27 in 2018	1,982,000	2,664,000
Inventories, net	11,274,000	9,034,000
Prepaid expenses and other current assets	496,000	590,000
Total current assets	14,592,000	13,617,000
Equipment and leasehold improvements, net	14,752,000	15,734,000
Restricted cash		65,000
Other assets	282,000	291,000
Total assets	29,626,000	29,707,000
Current liabilities:
Accounts payable	4,922,000	3,527,000
Accrued expenses	992,000	892,000
Customer deposits	626,000	133,000
Short-term contract obligation	285,000
Line of credit	2,000,000	500,000
Current maturities of long-term debt	663,000	655,000
Total current liabilities	9,488,000	5,707,000
Long-term debt, less current maturities	5,172,000	5,790,000
Other long-term liabilities	57,000	103,000
Total liabilities	14,717,000	11,600,000
Commitments and contingencies
Stockholders’ equity:
Preferred stock of $0.01 par value, authorized 10,000,000 shares; no shares issued and outstanding
Common stock of $0.02 par value, authorized 50,000,000 shares; issued and outstanding 5,879,710 shares at March 31, 2019 and 5,772,032 shares at March 31, 2018	117,000	115,000
Additional paid-in capital	32,447,000	32,051,000
Accumulated deficit	(17,655,000)	(14,059,000)
Total stockholders’ equity	14,909,000	18,107,000
Total liabilities and stockholders’ equity	$ 29,626,000	$ 29,707,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Accounts receivable, allowance for doubtful accounts	$ 27	$ 27
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred, authorized shares (in shares)	10,000,000	10,000,000
Preferred, issued shares (in shares)	0	0
Preferred outstanding, shares (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.02	$ 0.02
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	5,879,710	5,772,032
Common stock, shares outstanding (in shares)	5,879,710	5,772,032

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 30,202	$ 34,115	$ 32,042
Cost of sales	19,736	20,744	19,818
Gross profit	10,466	13,371	12,224
Operating expenses:
General and administrative	5,718	4,956	6,054
Sales and marketing	6,822	6,438	6,259
Research and development	923	563	593
Total operating expense	13,463	11,957	12,906
(Loss) income from operations	(2,997)	1,414	(682)
Other expense:
Interest expense, net	(582)	(499)	(528)
Total other expense, net	(582)	(499)	(528)
(Loss) income before income taxes	(3,579)	915	(1,210)
Income tax (expense) benefit	(17)	110	(5)
Net (loss) income	$ (3,596)	$ 1,025	$ (1,215)
Net (loss) income per share:
Basic (in dollars per share)	$ (0.62)	$ 0.18	$ (0.21)
Diluted (in dollars per share)	$ (0.62)	$ 0.18	$ (0.21)
Shares used in calculation of net (loss) income per share:
Basic (in shares)	5,819	5,709	5,658
Diluted (in shares)	5,819	5,781	5,658

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Mar. 31, 2016	5,599,797
Balance at Mar. 31, 2016	$ 112	$ 31,585	$ (13,869)	$ 17,828
Issuances of common stock for Director Stock Grants (in shares)	19,117
Issuances of common stock for Director Stock Grants		78		$ 78
Issuance of common stock for exercise of stock options for cash (in shares)	18,000			18,000
Issuance of common stock for exercise of stock options for cash		50		$ 50
Issuance of common stock in connection with severance of former executive (in shares)	77,500
Issuance of common stock in connection with severance of former executive	$ 2	(2)
Shares withheld from former executive for tax payments (in shares)	(29,033)
Shares withheld from former executive for tax payments		(147)		(147)
Settlement agreement with former executive		(141)		(141)
Share based compensation expense		154		154
Net income (loss)			(1,215)	(1,215)
Balance (in shares) at Mar. 31, 2017	5,685,381
Balance at Mar. 31, 2017	$ 114	31,577	(15,084)	16,607
Issuances of common stock for Director Stock Grants (in shares)	57,501
Issuances of common stock for Director Stock Grants	$ 1	275		$ 276
Issuance of common stock for exercise of stock options for cash (in shares)	29,150			29,150
Issuance of common stock for exercise of stock options for cash		75		$ 75
Share based compensation expense		124		124
Net income (loss)			1,025	1,025
Balance (in shares) at Mar. 31, 2018	5,772,032
Balance at Mar. 31, 2018	$ 115	32,051	(14,059)	18,107
Issuances of common stock for Director Stock Grants (in shares)	47,223
Issuances of common stock for Director Stock Grants	$ 1	169		$ 170
Issuance of common stock for exercise of stock options for cash (in shares)	49,600			49,600
Issuance of common stock for exercise of stock options for cash	$ 1	107		$ 108
Shares withheld from former executive for tax payments (in shares)	(5,148)
Shares withheld from former executive for tax payments		(32)		(32)
Share based compensation expense		152		152
Net income (loss)			(3,596)	(3,596)
Issuances of vested shares of restricted stock (in shares)	16,003
Issuances of vested shares of restricted stock
Balance (in shares) at Mar. 31, 2019	5,879,710
Balance at Mar. 31, 2019	$ 117	$ 32,447	$ (17,655)	$ 14,909

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (3,596,000)	$ 1,025,000	$ (1,215,000)
Adjustments to reconcile net (loss) income to cash (used in) provided by operating activities:
Loss on sale or disposal of assets		106,000	63,000
Depreciation and amortization	1,908,000	1,877,000	1,978,000
Amortization of debt issue costs and other assets	71,000	72,000	67,000
Share based compensation expense	322,000	400,000	232,000
Net (increase) decrease in assets:
Accounts receivable	682,000	(529,000)	848,000
Inventories	(2,240,000)	(1,062,000)	(116,000)
Prepaid expenses and other assets	64,000	(139,000)	27,000
Net increase (decrease) in liabilities:
Accounts payable	1,395,000	(139,000)	(334,000)
Accrued expenses	100,000	(121,000)	(417,000)
Customer deposits	493,000	13,000	2,000
Deferred rent and other liabilities	(46,000)	(13,000)	85,000
Net cash (used in) provided by operating activities	(847,000)	1,490,000	1,220,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in equipment and leasehold improvements	(431,000)	(1,005,000)	(847,000)
Cash paid to acquire Cellana assets	(100,000)
Net cash used in investing activities	(531,000)	(1,005,000)	(847,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on short term contract obligation	(110,000)
Proceeds from short term notes payable			600,000
Net draws (payments) on line of credit	1,500,000	(111,000)	611,000
Payment of short term notes payable			(600,000)
Proceeds from long-term debt, net of costs		166,000
Principal payments on long-term debt	(576,000)	(538,000)	(503,000)
Payments on capitalized leases	(66,000)	(90,000)	(77,000)
Shares withheld for tax payments	(32,000)		(147,000)
Settlement agreement with former executive			(140,000)
Proceeds from issuance of common stock and exercise of stock options	108,000	75,000	50,000
Net cash provided by (used in) financing activities	824,000	(498,000)	(206,000)
Net (decrease) increase in cash	(554,000)	(13,000)	167,000
Cash and restricted cash at beginning of year	1,394,000	1,407,000	1,240,000
Cash and restricted cash at end of year	840,000	1,394,000	1,407,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	380,000	413,000	431,000
Income taxes
Payments to Acquire Buildings	100,000
Cellana Asset Purchase [Member]
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Purchase of Cellana assets	495,000
Less: Issuance of short-term obligation	$ (395,000)

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1 . ORGANIZATION AND BASIS OF PRESENTATION Cyanotech Corporation (the “Company”), located in Kailua-Kona, Hawaii, was incorporated in the state of Nevada on March 3, 1983 The Company is an agricultural company that produces high value natural products derived from microalgae grown in complex and intricate open-pond agricultural systems on the Kona coast of Hawaii. The Company's products include Hawaiian Spirulina Pacifica, a superfood with numerous benefits, including boosting the immune system and overall cellular health; and Hawaiian BioAstin, a powerful antioxidant shown to support and maintain the body's natural inflammatory response. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The accompanying consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”). Intercompany balances and transactions have been eliminated in consolidation. Liquidity and Debt Covenant Compliance As of March 31, 2019, $840,000 $5,104,000 $1,329,000 $7,910,000, March 31, 2018. August 30, 2016, June 3, 2016, $2,000,000 March 31, 2019, $2,000,000 August 30, 2019 As of March 31, 2019, $5,828,000 August 2032. March 31, 2019, 0.66:1 1.25:1. March 31, 2019, 1.49:1 1.50:1. June 17, 2019, March 31, 2019, 6 In fiscal 2019, first 2019, August 2018. $1,250,000 fourth 2019, fourth 2019. April 2019, $1,500,000 17 Funds generated by operating activities and available cash are expected to continue to be the Company's most significant sources of liquidity for working capital requirements, debt service and funding of maintenance levels of capital expenditures. In the first 2020, Based upon the Company's operating plan and related cash flow and financial projections, cash flows expected to be generated by operating activities and available financing are expected to be sufficient to fund the Company's operations through at least June 30, 2020, March 31, 2020, no March 31, 2020. As indicated above, the Bank has waived the Company's violations of the debt service coverage ratio and current ratio covenant requirements as of March 31, 2019. no not may not

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary. Actual results could differ from those estimates and assumptions. Financial Instruments The Company applies a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 — Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2 — Inputs to the valuation methodology include: ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; and ● Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 — Inputs to the valuation methodology are unobservable and significant to the fair value. Cash, Restricted Cash, Accounts Receivable, Accounts Payable , Accrued Expenses and Customer Deposits - Due to the short-term nature of these instruments, management believes that the carrying amounts approximate fair value. Line of Credit, Short-Term Contract Obligations and Long-Term Debt - The carrying amount of our line of credit and long-term debt approximates fair value as interest rates applied to the underlying debt are adjusted quarterly to market interest rates, which approximate current interest rates for similar debt instruments of comparable maturities. The carrying amount of our short-term contract obligation approximates fair value due to its short maturity. Cash and Restricted Cash Cash primarily consists of cash on hand and cash in bank deposits. Proceeds from equipment loans are classified as restricted cash until drawn upon. The following table provides a reconciliation of cash and restricted cash reported within the Company's consolidated balance sheets to the total amount presented in the consolidated statement of cash flows: March 31, 2019 March 31, 2018 (in thousands) Cash $ 1,329 $ 1,407 Restricted cash 65 — Cash and restricted cash at beginning of period $ 1,394 $ 1,407 Cash $ 840 $ 1,329 Restricted cash — 65 Cash and restricted cash at end of period $ 840 $ 1,394 Concentration Risk The Company maintains its cash accounts in banks located in Hawaii, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per bank. The Company had cash balances at March 31, 2019 and 2018 that exceeded the balance insured by the FDIC by $340,000 and $829,000, respectively. A significant portion of revenues and accounts receivables are derived from a few major customers. For the year ended March 31, 2019, two customers accounted for 33% and 24% of our total net sales and for the year ended March 31, 2018, two customers accounted for 32% and 15% of our total net sales. For the year ended March 31, 2017, one customer accounted for 24% of our total net sales. Three customers accounted for 60% and 77% of the Company’s accounts receivable balance as of March 31, 2019 and 2018, respectively. The Company has recently been made aware of a possibility that Amazon, one of its major customers, may be changing its procurement practices. If these changes occur, it is possible that Amazon would no longer order products directly from the Company, but instead include the Company in the Amazon seller marketplace which would allow Amazon customers to purchase directly from the Company. It is unclear if and when these changes might occur and, if they do, what impact it would have on the Company's sales. Accounts Receivable Accounts receivable are recorded at the invoiced amount and do not accrue interest. Credit is extended based on evaluation of the customer's financial condition. Collateral is not required. The allowance for doubtful accounts reflects management’s best estimate of probable credit losses inherent in the accounts receivable balance. Management determines the allowance based on historical experience, specifically identified nonpaying accounts and other currently available evidence. Management reviews its allowance for doubtful accounts monthly with a focus on significant individual past due balances over 90 days. All other balances are reviewed on a pooled basis. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance sheet credit exposure related to its customers or otherwise. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first -in, first -out (FIFO) method. Net realizable value is defined as estimated sales price less cost to dispose. Inventory costs include materials, labor, overhead and third party costs. Management provides a reserve against inventory for known or expected inventory obsolescence. The reserve is determined by specific review of inventory items for product age and quality which may affect salability. The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, as an expense in the period incurred. Abnormal amounts of freight, handling costs and wasted material (spoilage) are recognized as current period charges and fixed production overhead costs are allocated to inventory based on the normal capacity of production facilities. Normal capacity is defined as “the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance.” Equipment and Leasehold Improvements Equipment and leasehold improvements are stated at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives for equipment and furniture and fixtures, and the shorter of the land lease term (see Notes 4 and 8 ) or estimated useful lives for leasehold improvements as follows (in years): Equipment 3 to 10 Furniture and fixtures 3 to 7 Leasehold improvements 10 to 25 Capital project costs are accumulated in construction-in-progress until completed, at which time the costs are transferred to the relevant asset and commence depreciation. Repairs and Maintenance costs are expensed in the period incurred. Repairs and maintenance that significantly increase the useful life or value of the asset are capitalized and depreciated over the remaining life of the asset. The Company capitalizes interest cost incurred on funds used to construct property, plant, and equipment. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life. Impairment of Long-Lived Assets Management reviews long-lived assets, such as equipment, leasehold improvements and purchased intangibles subject to amortization for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized to the extent that the carrying amount exceeds the asset’s fair value. Assets to be disposed of and related liabilities would be separately presented in the consolidated balance sheet. Assets to be disposed of would be reported at the lower of the carrying value or fair value less costs to sell and would not be depreciated. Accounting for Asset Retirement Obligations Management evaluates quarterly the potential liability for asset retirement obligations under the Company’s lease for its principal facility and corporate headquarters. No liability has been recognized as of March 31, 2019 and 2018 (see Note 8 ). Revenue Recognition The Company records revenue based on the five -step model which includes: ( 1 ) identifying the contract with the customer; ( 2 ) identifying the performance obligations in the contract; ( 3 ) determining the transaction price; ( 4 ) allocating the transaction price to the performance obligations; and ( 5 ) recognizing revenue when the performance obligations are satisfied. Substantially all of the Company’s revenue is generated by fulfilling orders for the purchase of our micro algal nutritional supplements to retailers, wholesalers, or direct to consumers via online channels, with each order considered to be a distinct performance obligation. These orders may be formal purchase orders, verbal phone orders, e-mail orders or orders received online. Shipping and handling activities for which the Company is responsible under the terms and conditions of the order are not accounted for as performance obligations but as fulfillment costs. These activities are required to fulfill the Company’s promise to transfer the goods and are expensed when revenue is recognized. The impact of this policy election is insignificant as it aligns with our current practice. Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling a performance obligation. The Company has elected to exclude sales, use and similar taxes from the measurement of the transaction price. The impact of this policy election is insignificant, as it aligns with our current practice. The amount of consideration expected to be received and revenue recognized includes estimates of variable consideration, which includes costs for trade promotion programs, coupons, returns and early payment discounts. Such estimates are calculated using historical averages adjusted for any expected changes due to current business conditions and experience. The Company reviews and updates these estimates at the end of each reporting period and the impact of any adjustments are recognized in the period the adjustments are identified. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intent to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 days from the invoice date, which occurs on the date of transfer of control of the products to the customer. Revenue is recognized at the point in time that control of the ordered products is transferred to the customer. Generally, this occurs when the product is delivered, or in some cases, picked up from one of our distribution centers by the customer. Revenue from extraction services is recognized when control is transferred upon completion of the extraction process. Customer contract liabilities consist of customer deposits received in advance of fulfilling an order and are shown separately on the consolidated balance sheets. During the years ended March 31, 2019 and 2018, the Company recognized $133,000 and $119,000, respectively, of revenue from deposits that were included in contract liabilities as of March 31, 2018 and 2017, respectively. The Company’s contracts have a duration of one year or less and therefore, the Company has elected the practical expedient of not disclosing revenues allocated to partially unsatisfied performance obligations. Research and Development Research and development costs are expensed as incurred and consist primarily of labor, benefits and outside research. Advertising Advertising costs are expensed as incurred. Total advertising expense for the years ended March 31, 2019, 2018 and 2017 was $ 2,413,000, $1,548,000, and $813,000, respectively. Income Taxes Income taxes are accounted for under the asset and liability method. The asset and liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using income tax rates applicable to the period in which the tax difference is expected to reverse. Judgment is required in determining any valuation allowance recorded against deferred tax assets, specifically net operating loss carryforwards, tax credit carryforwards and deductible temporary differences that may reduce taxable income in future periods. In assessing the need for a valuation allowance, the Company considers all available evidence including past operating results, estimates of future taxable income and tax planning opportunities. In the event the Company changes its determination as to the amount of deferred tax assets that can be realized, it will adjust its valuation allowance with a corresponding impact to income tax expense in the period in which such determination is made. In evaluating a tax position for recognition, management evaluates whether it is more-likely-than- not that a position will be sustained upon examination, including resolution of related appeals or litigation processes, based on the technical merits of the position. If the tax position meets the more-likely-than- not recognition threshold, the tax position is measured and recognized in the Company’s financial statements as the largest amount of tax benefit that, in management’s judgment, is greater than 50% likely of being realized upon settlement. As of March 31, 2019 and 2018, there was no liability for income tax associated with unrecognized tax benefits. The Company recognizes accrued interest related to unrecognized tax benefits as well as any related penalties in interest expense in its consolidated statements of operations. As of the date of adoption and during the years ended March 31, 2019 and 2018, there was no accrual for the payment of interest and penalties related to uncertain tax positions. Share-Based Compensation The Company accounts for share-based payment arrangements using fair value. The Company currently has no liability-classified awards. Equity-classified awards, including grants of restricted stock, restricted stock units and employee stock options, are measured at the grant-date fair value of the award and are not subsequently remeasured unless an award is modified. The cost of equity-classified awards is recognized in the statement of operations over the period during which an employee is required to provide the service in exchange for the award, or the vesting period. All of the Company’s restricted stock, restricted stock units and stock options are service-based awards, and considered equity-classified awards; as such, they are reflected in Equity and Stock Compensation Expense accounts. All stock-based compensation has been classified as general and administrative expense in the consolidated statement of operations. The Company utilizes the Black-Scholes option pricing model to determine the fair value of each option award. Expected volatilities are based on the historical volatility of the Company’s common stock over a period consistent with that of the expected term of the options. The expected term of the options is estimated based on factors such as vesting periods, contractual expiration dates and historical exercise behavior. The risk-free rates for periods within the contractual life of the options are based on the yields of U.S. Treasury instruments with terms comparable to the estimated option terms. Per Share Amounts Basic earnings (loss) per common share is calculated by dividing net income (loss) for the year by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is calculated by dividing net income for the year by the sum of the weighted average number of common shares outstanding during the year plus the number of potentially dilutive common shares (“dilutive securities”) that were outstanding during the year. Dilutive securities include restricted stock units and stock options granted pursuant to the Company’s stock option plans. Dilutive securities related to the Company’s stock option plans are included in the calculation of diluted earnings per common share using the treasury stock method. Potentially dilutive securities are excluded from the computation of earnings per share in periods in which a net loss is reported, as their effect would be antidilutive. A reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share calculations for the years ended March 31, 2019, 2018 and 2017 is presented in Note 12. Reclassifications Certain amounts previously reported in the fiscal 2018 consolidated financial statements have been reclassified to conform with the fiscal 2019 financial presentation. These reclassifications have no impact on net (loss) income. Recently Adopted Accounting Pronouncements In May 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017 - 09, Compensation-Stock Compensation (Topic 718 ) Scope of Modification Accounting (“ASU No. 2017 - 09” ) . ASU No. 2017 - 09 will clarify and reduce both (i) diversity in practice and (ii) cost and complexity when applying the guidance in Topic 718, to a change to the terms and conditions of a share-based payment award. This guidance became effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. The amendments in ASU No. 2017 - 09 are applied prospectively to awards modified on or after the adoption date. The Company adopted this standard as of April 1, 2018 with no impact on its consolidated financial statements. In November 2016, the FASB issued ASU 2016 - 18, Statement of Cash Flows (Topic 230 ): Restricted Cash (“ASU No. 2016 - 18” ) . This update addresses the fact that diversity exists in the classification and presentation of changes in restricted cash on the statement of cash flows under Topic 230, Statement of Cash Flows . ASU No. 2016 - 18 became effective for public companies for the fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company adopted this standard as of April 1, 2018 by using the retrospective method, which required reclassification of restricted cash in the accompanying consolidated statement of cash flows as of the beginning of the fiscal year ended March 31, 2017. In August 2016, FASB issued ASU 2016 - 15, Statement of Cash Flows (Topic 230 ) : Classification of Certain Cash Receipts and Cash Payments (“ASU No. 2016 - 15” ). ASU No. 2016 - 15 clarifies and provides specific guidance on eight cash flow classification issues that are not currently addressed by current GAAP and thereby reduces the current diversity in practice. ASU No. 2016 - 15 is effective for public business entities for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. The Company adopted this standard as of April 1, 2018 with no impact on its consolidated financial statements and related disclosures. In May 2014, the FASB issued their converged standard on revenue recognition, Accounting Standards Update No. 2014 - 09, Revenue from Contracts with Customers (Topic 606 ) (“ASU No. 2014 - 09” ), updated in December 2016 with the release of ASU 2016 - 20. This standard outlines a single comprehensive model for companies to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods and services in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods and services. In addition, the new standard requires that reporting companies disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In August 2015, the FASB issued ASU No 2015 - 14 Revenue from Contracts with Customers (Topic 606 ): Deferral of the Effective Date, which deferred the effective date of ASU No. 2014 - 09 to annual reporting periods beginning after December 15, 2017. The new revenue standard is required to be applied either retrospectively to each prior reporting period presented or prospectively with the cumulative effect of initially applying the standard recognized at the date of the initial application, supplemented with certain disclosures related to the effect of adoption on previously reported amounts, if any (the modified retrospective method). The Company adopted the standard on April 1, 2018 for contracts that were not completed before the adoption date, using the modified retrospective method. The Company has evaluated the effect of the standard and concluded it is not material to the timing or amount of revenues or expenses recognized in the Company’s historical consolidated financial statements. As a result, the Company has concluded that the application of the standard does not have a material effect that requires a retrospective adjustment to any previously reported amounts in the Company’s historical consolidated financial statements for reporting disclosure purposes. Recently Issued Accounting Pronouncements In November 2018, the FASB issued ASU 2018 - 18 – Collaborative Arrangements , which clarifies that certain transactions between collaborative arrangement participants should be accounted for as revenue when the collaborative arrangement participant is a customer in the context of a unit of account and precludes recognizing as revenue consideration received from a collaborative arrangement participant if the participant is not a customer. This ASU will be effective for us in the first quarter of fiscal year 2021 with early adoption permitted. This ASU requires retrospective adoption to the date the Company adopted ASC 606, April 1, 2018, by recognizing a cumulative-effect adjustment to the opening balance of retained earnings of the earliest annual period presented. The Company is currently evaluating the impact of the adoption of this standard on its financial statements. In August 2018, the FASB issued ASU 2018 - 15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU No. 2018 - 15” ), which aligns the capitalization requirements for implementation costs incurred in a hosting arrangement that is a service contract with the existing capitalization requirements for implementation costs incurred to develop or obtain internal-use software (Subtopic 350 - 40 ) . ASU 2018 - 15 becomes effective for the Company in the first quarter of fiscal year 2021 and may be adopted either retrospectively or prospectively. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on its financial statements. In August 2018, the FASB issued ASU 2018 - 13, Fair Value Measurement - Disclosure Framework (Topic 820 ) (“ASU No. 2018 - 13” ). The updated guidance improves the disclosure requirements on fair value measurements. The updated becomes effective for the Company in the first quarter of fiscal year 2021. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the timing and impact of adopting the updated provisions. In June 2018, the FASB issued ASU 2018 - 07, Compensation - Stock Compensation (Topic 718 ) (“ASU No. 2018 - 07” ): Improvements to Nonemployee Share-Based Payment Accounting. ASU No. 2018 - 07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees, and as a result, the accounting for share-based payments to non-employees will be substantially aligned. ASU No. 2018 - 07 becomes effective for the Company in the first quarter of fiscal year 2020. Early adoption is permitted but no earlier than an entity’s adoption date of Topic 606. The Company does not expect this guidance to have an impact on its consolidated results of operations. In February 2016, the FASB issued ASU 2016 - 02, Leases (Topic 842 ): Accounting for Leases and issued subsequent amendments to the initial guidance and implementation guidance including ASU 2018 - 01, 2018 - 10, 2018 - 11, 2018 - 20 and 2019 - 01 (collectively including ASU 2016 - 02, “ASC 842” ). ASC 842 requires that lessees recognize right-of-use assets and lease liabilities that are measured at the present value of the future lease payments at lease commencement date. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will largely remain unchanged and shall continue to depend on its classification as a finance or operating lease. The Company has performed a comprehensive review in order to determine what changes were required to support the adoption of this new standard. The Company will adopt ASC 842 on April 1, 2019 and expects to elect certain practical expedients permitted under the transition guidance. It will elect the optional transition method that allows for a cumulative-effect adjustment in the period of adoption and will not restate prior periods. Under the new guidance, the majority of its leases will continue to be classified as operating. During the first quarter of fiscal year 2020, the Company will complete its implementation of its processes and policies to support the new lease accounting and reporting requirements. Based on its lease portfolio as of April 1, 2019, the Company preliminarily estimates the impact of adoption ASC 842 to increase both total assets and total liabilities in the range of $4.0 million to $4.5 million. The adoption of ASC 842 is not expected to have a significant impact on its consolidated statements of operations or cash flows in fiscal year 2020 or thereafter. The Company continues to finalize the implementation of the new processes and the assessment of the impact of this adoption on its consolidated financial statements; therefore, the preliminary estimated impacts disclosed can change, and the final impact will be known once the adoption is completed during the first quarter of fiscal year 2020.

Note 3 - Inventories

Note 3 - Inventories	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. INVENTORIES Inventories consist of the following as of March 31, 2019 2018: 201 9 201 8 (in thousands) Raw materials $ 495 $ 410 Work in process 4,032 2,602 Finished goods 6,587 5,878 Supplies 160 144 Inventories, net $ 11,274 $ 9,034 The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, as an expense in the period incurred. The Company expensed abnormal production costs of $250,000, $538,000 $120,000 March 31, 2019, 2018 2017, $176,000, $271,000 $134,000 March 31, 2019, 2018 2017,

Note 4 - Equipment and Leasehol

Note 4 - Equipment and Leasehold Improvements	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. EQUIPMENT AND LEASEHOLD IMPROVEMENTS Equipment and leasehold improvements consists of the following as of March 31, 2019 2018: 2019 2018 (in thousands) Equipment $ 18,679 $ 17,935 Leasehold improvements 14,723 14,248 Furniture and fixtures 348 348 33,750 32,531 Less accumulated depreciation and amortization (19,254 ) (17,346 ) Construction in-progress 256 549 Equipment and leasehold improvements, net $ 14,752 $ 15,734 Management has determined no March 31, 2019 March 31, 2018, Depreciation and amortization expense was approximately $1,908,000, $1,877,000 $1,978,000 March 31, 2019, 2018 2017,

Note 5 - Short-term Contract Ob

Note 5 - Short-term Contract Obligations	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Short-term Debt [Text Block]	5. SHORT-TERM CONTRACT OBLIGATIONS On November 30, 2018, six August 31, 2018. third $495,000 $100,000 $395,000. The short-term obligation is comprised of two first $180,000, 6.25% four December 1, 2018 March 31, 2019, July 15, 2019. March 31, 2019 $137,000. The second $215,000 twelve two $10,000 ten $19,543. December 1, 2018 October 15, 2019. $38,000 March 31, 2019 $148,000.

Note 6 - Line of Credit and Lon

Note 6 - Line of Credit and Long-term Debt	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	6. LINE OF CREDIT AND LONG- TERM DEBT Total debt consists of the following at March 31, 2019 2018 2019 2018 (in thousands) Line of credit $ 2,000 $ 500 Long-term debt 6,035 6,678 Less current maturities (2,663 ) (1,155 ) Long-term debt, excluding current maturities 5,372 6,023 Less unamortized debt issuance costs (200 ) (233 ) Total long-term debt, net of current maturities and unamortized debt issuance costs $ 5,172 $ 5,790 Line of Credit and Term Loans On August 30, 2016, June 3, 2016, $2,000,000 5.50% March 31, 2019 4.75% March 31, 2018) + 2%. At March 31, 2019 2018, $2,000,000 $500,000, August 30, 2018 August 30, 2019. August 30, 2018 2.10:1 1.50:1 The Credit Agreement grants the Bank the following security interests in the Company’s property: (a) a lien on the Company’s leasehold interest in its Kona facility; (b) an assignment of the Company’s interest in leases and rents on its Kona facility; and (c) a security interest in all fixtures, furnishings and equipment related to or used by the Company at the Kona facility. Each security interest is further subject to the terms of the Credit Agreement. In 2015, $2,500,000 “2015 July 30, 2015 “2015 2015 $2,500,000, 2015 $500,000 September 18, 2015, The provisions of the 2015 September 1, 2022, seven 7 2015 5.5% March 31, 2019 2.0% first no 6.0%. 2015 5.0% first 2015 1.0% fifth no 2015 $1,389,000 $1,726,000 March 31, 2019 2018, The 2015 one $113,900 0.5% December 31 December 31, 2015. 80% 2015 In 2012, $5,500,000 “2012 August 14, 2012 “2012 2012 $2,250,000 $3,250,000, 2012 The provisions of the 2012 first 12 August 14, 2032, nineteen 19 2012 5.5% March 31, 2019 1.0% first no 5.5%. 2012 $4,439,000 $4,648,000 March 31, 2019 2018, The 2012 one $214,500 0.25% December 31 December 31, 2012. 80% 2012 Loan Covenant Violations and Waiver The Company’s Credit Agreement, 2015 2012 March 31, 2019, not $5,828,000 $2,000,000. June 17, 2019, March 31, 2019. March 31, 2019. Equipment Finance Agreement On October 6, 2017, $175,000 4.75%. October 31, 2022, five 5 $126,000 $156,000 March 31, 2019 2018, Capital Lease Obligations In August 2016, $52,000 May 2019 36 12.90%. $7,800 $28,000 March 31, 2019 2018, In February 2016, $51,000 March 2021 60 4.18%. $22,000 $32,000 March 31, 2019 2018, In July 2015, $174,000 July 2020 60 6.57%. $52,000 $88,000 March 31, 2019 2018, Future principal payments under the loans and capital lease obligations at March 31, 2019 Fiscal year ending March 31 (in thousands) 2020 $ 663 2021 676 2022 698 2023 506 2024 278 Thereafter 3,214 Total principal payments $ 6,035

Note 7 - Accrued Expenses

Note 7 - Accrued Expenses	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. ACCRUED EXPENSES Components of accrued expenses as of March 31, 2019 2018 201 9 201 8 (in thousands) Wages, commissions, bonus and profit sharing $ 483 $ 707 Rent, interest and legal 235 69 Other accrued expenses 274 116 Total accrued expenses $ 992 $ 892

Note 8 - Operating Leases

Note 8 - Operating Leases	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	8 . OPERATING LEASES The Company’s principal facility and its corporate headquarters are located at the Natural Energy Laboratory of Hawaii Authority (“NELHA”) at Keahole Point in Kailua-Kona, Hawaii. The Company leases two 40 2035 19 2037. not not The Company leases facilities, equipment and land under operating leases expiring through 2037. March 31, 2019, 2018 2017 $54,000, $49,000 $80,000, Future minimum lease payments under non-cancelable operating leases at March 31, 2019 Year ending March 31 (in thousands) 2020 $ 567 2021 573 2022 572 2023 493 2024 336 Thereafter 4,028 Total minimum lease payments $ 6,569 Rent expense, including contingent rent, under operating leases amounted to $588,000, $578,000 $605,000 March 31, 2019, 2018 2017,

Note 9 - Other Commitments and

Note 9 - Other Commitments and Contingencies	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. OTHER COMMITMENTS AND CONTINGENCIES From time to time, the Company may no March 31, 2019. As of March 31, 2019, $951,000, not

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. SHARE-BASED COMPENSATION As of March 31, 2019, two 2016 “2016 2014 “2014 March 31, 2019, two 2005 “2005 2004 “2004 No 2005 2004 On August 25, 2016, 2016 2005 2016 1,300,000 600,000 March 31, 2019, 1,066,850 2016 On August 28, 2014, 2014 2014 350,000 March 31, 2019, 184,400 2014 The following table presents shares authorized, available for future grant and outstanding under each of the Company’s plans: As of March 31, 201 9 Authorized Available Outstanding 2016 Plan 1,300,000 1,066,850 208,814 2014 Directors Plan 350,000 184,400 116,724 2005 Plan — — 345,800 2004 Directors Plan — — 12,000 Total 1,650,000 1,251,250 683,338 Stock Options All stock option grants made under the equity-based compensation plans were issued at exercise prices no 2016 2005 2014 No ten 10 $77,000, $62,000 $154,000 March 31, 2019, 2018 2017, A summary of option activity under the Company’s stock plans for the years ended March 31, 2019, 2018 2017 Option Activity Shares Weighted Price Weighted Average (in years) Aggregate Outstanding at March 31, 2016 685,000 $ 4.65 5.7 $ 566,323 Granted 6,000 4.08 Exercised (18,000 ) 2.77 Forfeited (170,000 ) 6.44 Outstanding at March 31, 2017 503,000 $ 4.10 4.7 $ 145,946 Granted 120,000 3.53 Exercised (29,150 ) 2.59 Forfeited (3,700 ) 4.50 Expired (750 ) 1.60 Outstanding at March 31, 2018 589,400 $ 4.06 4.9 $ 675,300 Granted 50,000 3.00 Exercised (49,600 ) 2.17 Forfeited (50,000 ) 4.82 Outstanding at March 31, 2019 539,800 $ 4.06 4.7 $ 15,480 Exercisable at March 31, 2019 409,800 $ 4.30 3.4 $ 3,480 The aggregate intrinsic value in the table above is before applicable income taxes and represents the excess amount over the exercise price optionees would have received if all options had been exercised on the last business day of the period indicated, based on the Company’s closing stock price of $3.24, $5.10, $3.85 $4.98 March 31, 2019, 2018, 2017 2016, 2019, 2018 2017 $77,000, $67,000 $23,000, A summary of the Company’s non-vested options for the year ended March 31, 2019 Nonvested Options Shares Weighted Nonvested at March 31, 2018 120,000 $ 1.81 Granted 50,000 1.52 Vested (40,000 ) 1.80 Nonvested at March 31, 2019 130,000 $ 1.70 The weighted average grant-date fair value of stock options granted during fiscal years 2019, 2018 2017 $76,000, $67,000 $5,000, 2019, 2018 2017 $72,000, $57,000 $332,000, The following table summarizes the weighted average characteristics of outstanding stock options as of March 31, 2019: Outstanding Options Exercisable Options Range of Exercise Prices Number Remaining Weighted Exercise Price Number of Weighted Exercise Price $2.08 - $3.47 128,000 8.7 $ 3.18 28,000 $ 3.21 $3.48 - $3.70 45,200 2.3 $ 3.58 45,200 $ 3.58 $3.71 - $3.82 188,100 2.4 $ 3.82 188,100 $ 3.82 $3.83 - $5.91 178,500 4.9 $ 5.08 148,500 $ 5.30 Total stock options 539,800 4.7 $ 4.06 409,800 $ 4.30 The range of fair value assumptions related to options granted during the years ended March 31, 2019, 2018 2017 201 9 201 8 201 7 Exercise Price $ 3.00 $ 3.83 $ 4.08 Volatility 49.94 % 51.91 % 51.13 % Risk Free Rate 2.40 % 2.50 % 0.60 % Vesting Period (in years) 4.0 3.0 0.5 Forfeiture Rate 0 % 0.00 % 0.00 % Expected Life (in years) 6.30 6.00 1.00 Dividend Rate 0 % 0 % 0 % As of March 31, 2019, $180,400, 2.3 Restricted Stock Grants of fully vested restricted stock issued to Non-Employee Directors was 47,223, 57,501 19,117 three March 31, 2019, 2018 2017, 2014 $170,000, $276,000 $78,000 three March 31, 2019, 2018 2017, Restricted Stock Units (“RSUs”) RSUs are service-based awards granted to eligible employees under our 2016 2016 $75,000, $62,000 $0 March 31, 2019, 2018 2017, The following table summarizes information related to awarded RSUs: Nonves ted Restricted Stock Units Shares Weighted Nonvested Restricted stock units at March 31, 2016 — — Granted 25,000 $ 3.85 Nonvested restricted stock units at March 31, 2017 25,000 $ 3.85 Granted 28,074 $ 3.92 Vested (8,333 ) $ 3.85 Forfeited (5,066 ) $ 3.92 Nonvested restricted stock units at March 31, 2018 39,675 $ 3.89 Granted 23,923 $ 4.10 Vested (16,003 ) $ 3.88 Forfeited (8,781 ) $ 4.07 Nonvested restricted stock units at March 31, 2019 38,814 $ 3.98 As of March 31, 2019, $108,984. On April 5, 2019, 561 $3.22 one

Note 11 - Common and Preferred

Note 11 - Common and Preferred Stock	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	1 1 . COMMON AND PREFERRED STOCK The Company has authorized a total of sixty million fifty million ten million None March 31, 2019 2018.

Note 12 - (Loss) Earnings Per S

Note 12 - (Loss) Earnings Per Share	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	1 2 . (LOSS) EARNINGS PER SHARE Basic earnings (loss) per share is computed on the basis of the weighted average number of common shares outstanding. Diluted earnings per share is computed on the basis of the weighted average number of common shares outstanding plus the potentially dilutive effect of outstanding stock options using the treasury stock method. Reconciliations between the numerator and the denominator of the basic and diluted income (loss) per share computations for the years ended March 31, 2019, 2018 2017 Net Income (loss) Shares Per Share (in thousands, except per share amounts) Year ended March 31, 2019: Basic and diluted loss per share $ (3,596 ) 5,819 $ (0.62 ) Year ended March 31, 2018: Basic income per share $ 1,025 5,709 $ 0.18 Effective dilutive securities—Common stock options — 72 — Diluted income per share $ 1,025 5,781 $ 0.18 Year ended March 31, 2017: Basic and diluted loss per share $ (1,215 ) 5,658 $ (0.21 ) Basic and diluted per share amounts are the same in periods of a net loss, because common share equivalents are anti-dilutive when a net loss is recorded. Diluted earnings per share does not 50,000, 6,000 March 31, 2019 2017, not 38,814, 39,675 25,000 March 31, 2019, 2018 2017,

Note 13 - Profit Sharing Plan a

Note 13 - Profit Sharing Plan and 401k Plan	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Profit Sharing Plan and 401 Plan Disclosure [Text Block]	1 3 . PROFIT SHARING AND 401K The Company sponsors a profit sharing plan for all employees not may may 401 may 401 $9,100, $91,000 $4,000 March 31, 2019, 2018 2017, 401 two $116,000, $117,000 $139,000 March 31, 2019, 2018 2017,

Note 14 - Product Line and Geog

Note 14 - Product Line and Geographic Information	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 4 . PRODUCT LINE AND GEOGRAPHIC INFORMATION Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the years ended March 31, 2019, 2018 2017 2019 2018 2017 Packaged sales Astaxanthin packaged $ 18,792 $ 20,560 $ 18,367 Spirulina packaged 7,867 8,815 7,489 Total packaged sales 26,659 29,375 25,856 Bulk sales Astaxanthin bulk 966 1,090 990 Spirulina bulk 2,340 3,650 5,196 Total bulk sales 3,306 4,740 6,186 Contract extraction revenue 237 — — Total net sales $ 30,202 $ 34,115 $ 32,042 Net sales by geographic region for the years ended March 31, 2019, 2018 2017 201 9 201 8 201 7 (dollars in thousands) Net sales (1) United States $ 24,192 80 % $ 26,348 77 % $ 22,978 72 % Asia / Pacific 2,597 9 % 3,238 9 % 4,017 13 % Europe 2,316 8 % 2,540 8 % 3,652 11 % Other 1,097 3 % 1,989 6 % 1,395 4 % $ 30,202 100 % $ 34,115 100 % $ 32,042 100 % ( 1 Net sales are attributed to countries based on location of customer.

Note 15 - Income Taxes

Note 15 - Income Taxes	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	1 5 . INCOME TAXES Income tax benefit (expense) for the years ended March 31, 2019, 2018 2017 201 9 201 8 201 7 (in thousands) Current: Federal $ 4 $ 112 $ (2 ) State (21 ) (2 ) (3 ) Total current (expense) benefit (17 ) 110 (5 ) Deferred: Federal — — — State — — — Total deferred expense — — — Income tax (expense) benefit $ (17 ) $ 110 $ (5 ) On December 22, 2017 1, 34% 21% January 1, 2018. March 31, 2018 30.79%. 21% March 31, 2019 On December 22, 2017, No. 118 118" not $1.2 no March 31, 2019 March 31, 2018 no The following table reconciles the amount of income taxes computed at the federal rates of 21%, 30.79% 34% March 31, 2019, 2018 2017, March 31, 2019, 2018 2017: 201 9 201 8 201 7 (in thousands) Tax provision at federal statutory income tax rate $ 752 $ (282 ) $ 411 Stock based compensation 6 (11 ) (281 ) (Increase) decrease in valuation allowance (1,015 ) 1,565 (158 ) State income taxes benefit (expense), net of federal income tax effect 264 (36 ) 49 State rate adjustment (30 ) 3 (1 ) AMT Credit 4 112 — Tax Cuts and Jobs Act — (1,244 ) — Other, net 1 3 (25 ) Income tax (expense) benefit $ (17 ) $ 110 $ (5 ) The tax effects of temporary differences related to various assets, liabilities and carry forwards that give rise to deferred tax assets and deferred tax liabilities as of March 31, 2019, 2018 2017 2019 201 8 201 7 (in thousands) Deferred tax assets: Net operating loss carry forwards $ 3,611 $ 2,903 $ 4,325 Inventory 509 295 405 Compensation accrual 131 153 187 Tax credit carry forwards 28 36 147 Interest limitation 174 — — Other 27 22 40 Gross deferred tax assets 4,480 3,409 5,104 Less valuation allowance (3,172 ) (2,158 ) (3,722 ) Net deferred tax assets 1,308 1,251 1,382 Deferred tax liability- Depreciation and amortization (1,308 ) (1,251 ) (1,382 ) Net deferred tax assets $ — $ — $ — In assessing the valuation allowance for deferred tax assets, management considers whether it is more likely than not not As of March 31, 2019, 2018 2017, While the Company’s long-term financial outlook remains positive, the Company concluded that its ability to rely on its long-term outlook as to future taxable income was limited due to the relative weight of the negative evidence from its recent cumulative losses. The Company’s conclusion regarding the need for a valuation allowance against its deferred tax assets could change in the future based on improvements in operating performance, which may At March 31, 2019, Expires March 31, Net Operating Research and 2020 $ — $ 8 2021 — 2 2022 2,839 — 2023 1,863 1 2026 159 — 2027 2,665 1 2028 1,612 16 2031 389 — 2032 44 — 2033 76 — 2034 392 — 2035 18 — 2037 1,681 — 2038 168 Indefinite carryforward 2,637 — $ 14,543 $ 28 Under the Tax Act, the corporate Alternative Minimum Tax (AMT) was repealed. Taxpayers with AMT credit carryovers can use the credits to offset regular tax liability for any taxable year. In addition, the AMT credit is refundable in any taxable year beginning after December 31, 2017 December 31, 2022 50% 100% 2021 2022. $120,000 March 31, 2019. March 31, 2019 6.2% $4,000 $116,000 March 31, 2019 March 31, 2022: Tax Year End ing : AMT Credit Refund Request (in thousands) March 31, 2019 $ 56 March 31, 2020 30 March 31, 2021 15 March 31, 2022 15 $ 116 At March 31, 2019, $2,300,000. March 31, 2030 2038. March 31, 2019, $7,712,000. March 31, 2030 2038. The following represents the open tax years and jurisdictions that the Company used in its evaluation of tax positions: Open tax years ending March 31, Jurisdiction 2016 - 2019 U.S. Federal 2016 - 2019 State of Hawaii 2015 - 2019 State of California

Note 16 - Related-party Transac

Note 16 - Related-party Transactions and Balances	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	1 6 . RELATED-PARTY TRANSACTIONS AND BALANCES During the year ended March 31, 2019, May 5, 2018 one not $120,000 March 31, 2019.

Note 17 - Subsequent Events

Note 17 - Subsequent Events	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	1 7 . SUBSEQUENT EVENTS On April 12, 2019, $1,500,000 1% April 12, 2021, may

Note 18 - Selected Quarterly Fi

Note 18 - Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Quarterly Financial Information [Text Block]	1 8 . SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) First Second Third Fourth Year (in thousands, except per share data) 201 9 Net sales $ 7,145 $ 6,954 $ 10,044 $ 6,059 $ 30,202 Gross profit 1,836 2,285 4,116 2,229 10,466 Net income (loss) (1,275 ) (1,136 ) 288 (1,473 ) (3,596 ) Net income (loss) per share Basic and diluted (0.22 ) (0.20 ) 0.05 (0.25 ) (0.62 ) 201 8 Net sales $ 8,809 $ 8,055 $ 9,150 $ 8,101 $ 34,115 Gross profit 3,603 3,620 4,240 1,908 13,371 Net income (loss) 501 475 1,107 (1,058 ) 1,025 Net income (loss) per share Basic and diluted 0.09 0.08 0.19 (0.18 ) 0.18

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	Cyanotech Corporation Valuation and Qualifying Accounts Years Ended March 31, 201 9 , 201 8 and 201 7 (in thousands) Additions Description Balance at Charged to Charged to Deductions Balance at Year Allowance for Doubtful Accounts: 2019 $ 27 $ — $ — $ — $ 27 2018 49 — — 22 27 2017 136 — — 87 49

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary. Actual results could differ from those estimates and assumptions.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments The Company applies a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (level 1 3 three Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level 2 Inputs to the valuation methodology include: ● Quoted prices for similar assets or liabilities in active markets; ● Quoted prices for identical or similar assets or liabilities in inactive markets; ● Inputs other than quoted prices that are observable for the asset or liability; and ● Inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the Level 2 Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value. Cash, Restricted Cash, Accounts Receivable, Accounts Payable , Accrued Expenses and Customer Deposits Line of Credit, Short-Term Contract Obligations and Long-Term Debt
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Restricted Cash Cash primarily consists of cash on hand and cash in bank deposits. Proceeds from equipment loans are classified as restricted cash until drawn upon. The following table provides a reconciliation of cash and restricted cash reported within the Company's consolidated balance sheets to the total amount presented in the consolidated statement of cash flows: March 31, 2019 March 31, 2018 (in thousands) Cash $ 1,329 $ 1,407 Restricted cash 65 — Cash and restricted cash at beginning of period $ 1,394 $ 1,407 Cash $ 840 $ 1,329 Restricted cash — 65 Cash and restricted cash at end of period $ 840 $ 1,394
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Risk The Company maintains its cash accounts in banks located in Hawaii, which are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 March 31, 2019 2018 $340,000 $829,000, March 31, 2019, two 33% 24% March 31, 2018, two 32% 15% March 31, 2017, one 24% 60% 77% March 31, 2019 2018, The Company has recently been made aware of a possibility that Amazon, one may no
Accounts Receivable [Policy Text Block]	Accounts Receivable Accounts receivable are recorded at the invoiced amount and do not not 90 not
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first first third may The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, as an expense in the period incurred. Abnormal amounts of freight, handling costs and wasted material (spoilage) are recognized as current period charges and fixed production overhead costs are allocated to inventory based on the normal capacity of production facilities. Normal capacity is defined as “the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance.”
Property, Plant and Equipment, Policy [Policy Text Block]	Equipment and Leasehold Improvements Equipment and leasehold improvements are stated at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful lives for equipment and furniture and fixtures, and the shorter of the land lease term (see Notes 4 8 Equipment 3 to 10 Furniture and fixtures 3 to 7 Leasehold improvements 10 to 25 Capital project costs are accumulated in construction-in-progress until completed, at which time the costs are transferred to the relevant asset and commence depreciation. Repairs and Maintenance costs are expensed in the period incurred. Repairs and maintenance that significantly increase the useful life or value of the asset are capitalized and depreciated over the remaining life of the asset. The Company capitalizes interest cost incurred on funds used to construct property, plant, and equipment. The capitalized interest is recorded as part of the asset to which it relates and is amortized over the asset’s estimated useful life.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Management reviews long-lived assets, such as equipment, leasehold improvements and purchased intangibles subject to amortization for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not
Asset Retirement Obligation [Policy Text Block]	Accounting for Asset Retirement Obligations Management evaluates quarterly the potential liability for asset retirement obligations under the Company’s lease for its principal facility and corporate headquarters. No March 31, 2019 2018 8
Revenue [Policy Text Block]	Revenue Recognition The Company records revenue based on the five 1 2 3 4 5 may not Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling a performance obligation. The Company has elected to exclude sales, use and similar taxes from the measurement of the transaction price. The impact of this policy election is insignificant, as it aligns with our current practice. The amount of consideration expected to be received and revenue recognized includes estimates of variable consideration, which includes costs for trade promotion programs, coupons, returns and early payment discounts. Such estimates are calculated using historical averages adjusted for any expected changes due to current business conditions and experience. The Company reviews and updates these estimates at the end of each reporting period and the impact of any adjustments are recognized in the period the adjustments are identified. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intent to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 one Customer contract liabilities consist of customer deposits received in advance of fulfilling an order and are shown separately on the consolidated balance sheets. During the years ended March 31, 2019 2018, $133,000 $119,000, March 31, 2018 2017, one not
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development costs are expensed as incurred and consist primarily of labor, benefits and outside research.
Advertising Cost [Policy Text Block]	Advertising Advertising costs are expensed as incurred. Total advertising expense for the years ended March 31, 2019, 2018 2017 2,413,000, $1,548,000, $813,000,
Income Tax, Policy [Policy Text Block]	Income Taxes Income taxes are accounted for under the asset and liability method. The asset and liability method requires the recognition of deferred tax assets and liabilities for the expected future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using income tax rates applicable to the period in which the tax difference is expected to reverse. Judgment is required in determining any valuation allowance recorded against deferred tax assets, specifically net operating loss carryforwards, tax credit carryforwards and deductible temporary differences that may In evaluating a tax position for recognition, management evaluates whether it is more-likely-than- not not 50% March 31, 2019 2018, no The Company recognizes accrued interest related to unrecognized tax benefits as well as any related penalties in interest expense in its consolidated statements of operations. As of the date of adoption and during the years ended March 31, 2019 2018, no
Share-based Payment Arrangement [Policy Text Block]	Share-Based Compensation The Company accounts for share-based payment arrangements using fair value. The Company currently has no not The Company utilizes the Black-Scholes option pricing model to determine the fair value of each option award. Expected volatilities are based on the historical volatility of the Company’s common stock over a period consistent with that of the expected term of the options. The expected term of the options is estimated based on factors such as vesting periods, contractual expiration dates and historical exercise behavior. The risk-free rates for periods within the contractual life of the options are based on the yields of U.S. Treasury instruments with terms comparable to the estimated option terms.
Earnings Per Share, Policy [Policy Text Block]	Per Share Amounts Basic earnings (loss) per common share is calculated by dividing net income (loss) for the year by the weighted average number of common shares outstanding during the year. Diluted earnings per common share is calculated by dividing net income for the year by the sum of the weighted average number of common shares outstanding during the year plus the number of potentially dilutive common shares (“dilutive securities”) that were outstanding during the year. Dilutive securities include restricted stock units and stock options granted pursuant to the Company’s stock option plans. Dilutive securities related to the Company’s stock option plans are included in the calculation of diluted earnings per common share using the treasury stock method. Potentially dilutive securities are excluded from the computation of earnings per share in periods in which a net loss is reported, as their effect would be antidilutive. A reconciliation of the numerators and denominators of the basic and diluted income (loss) per common share calculations for the years ended March 31, 2019, 2018 2017 12.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain amounts previously reported in the fiscal 2018 2019 no
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In May 2017, 2017 09, Compensation-Stock Compensation (Topic 718 ) Scope of Modification Accounting No. 2017 09” . No. 2017 09 718, December 15, 2017 No. 2017 09 April 1, 2018 no In November 2016, 2016 18, Statement of Cash Flows (Topic 230 ): Restricted Cash No. 2016 18” . 230, Statement of Cash Flows No. 2016 18 December 15, 2017, April 1, 2018 March 31, 2017. In August 2016, 2016 15, Statement of Cash Flows (Topic 230 ) Classification of Certain Cash Receipts and Cash Payments No. 2016 15” No. 2016 15 eight not No. 2016 15 December 15, 2017. April 1, 2018 no In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 ) No. 2014 09” December 2016 2016 20. August 2015, No 2015 14 Revenue from Contracts with Customers (Topic 606 Deferral of the Effective Date, No. 2014 09 December 15, 2017. The new revenue standard is required to be applied either retrospectively to each prior reporting period presented or prospectively with the cumulative effect of initially applying the standard recognized at the date of the initial application, supplemented with certain disclosures related to the effect of adoption on previously reported amounts, if any (the modified retrospective method). The Company adopted the standard on April 1, 2018 not not not Recently Issued Accounting Pronouncements In November 2018, 2018 18 Collaborative Arrangements not first 2021 606, April 1, 2018, In August 2018, 2018 15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract No. 2018 15” (Subtopic 350 - 40 ) 2018 15 first 2021 may In August 2018, 2018 13, Fair Value Measurement - Disclosure Framework (Topic 820 ) No. 2018 13” first 2021. In June 2018, 2018 07, Compensation - Stock Compensation (Topic 718 ) No. 2018 07” No. 2018 07 718 No. 2018 07 first 2020. no 606. not In February 2016, 2016 02, Leases (Topic 842 2018 01, 2018 10, 2018 11, 2018 20 2019 01 2016 02, 842” 842 842 April 1, 2019 not first 2020, April 1, 2019, 842 $4.0 $4.5 842 not 2020 first 2020.

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Table Text Block]	March 31, 2019 March 31, 2018 (in thousands) Cash $ 1,329 $ 1,407 Restricted cash 65 — Cash and restricted cash at beginning of period $ 1,394 $ 1,407 Cash $ 840 $ 1,329 Restricted cash — 65 Cash and restricted cash at end of period $ 840 $ 1,394
Property, Plant, and Equipment, Estimated Useful Lives [Table Text Block]	Equipment 3 to 10 Furniture and fixtures 3 to 7 Leasehold improvements 10 to 25

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	201 9 201 8 (in thousands) Raw materials $ 495 $ 410 Work in process 4,032 2,602 Finished goods 6,587 5,878 Supplies 160 144 Inventories, net $ 11,274 $ 9,034

Note 4 - Equipment and Leaseh_2

Note 4 - Equipment and Leasehold Improvements (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	2019 2018 (in thousands) Equipment $ 18,679 $ 17,935 Leasehold improvements 14,723 14,248 Furniture and fixtures 348 348 33,750 32,531 Less accumulated depreciation and amortization (19,254 ) (17,346 ) Construction in-progress 256 549 Equipment and leasehold improvements, net $ 14,752 $ 15,734

Note 6 - Line of Credit and L_2

Note 6 - Line of Credit and Long-term Debt (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	2019 2018 (in thousands) Line of credit $ 2,000 $ 500 Long-term debt 6,035 6,678 Less current maturities (2,663 ) (1,155 ) Long-term debt, excluding current maturities 5,372 6,023 Less unamortized debt issuance costs (200 ) (233 ) Total long-term debt, net of current maturities and unamortized debt issuance costs $ 5,172 $ 5,790
Schedule of Maturities of Long-term Debt [Table Text Block]	Fiscal year ending March 31 (in thousands) 2020 $ 663 2021 676 2022 698 2023 506 2024 278 Thereafter 3,214 Total principal payments $ 6,035

Note 7 - Accrued Expenses (Tabl

Note 7 - Accrued Expenses (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	201 9 201 8 (in thousands) Wages, commissions, bonus and profit sharing $ 483 $ 707 Rent, interest and legal 235 69 Other accrued expenses 274 116 Total accrued expenses $ 992 $ 892

Note 8 - Operating Leases (Tabl

Note 8 - Operating Leases (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year ending March 31 (in thousands) 2020 $ 567 2021 573 2022 572 2023 493 2024 336 Thereafter 4,028 Total minimum lease payments $ 6,569

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Share-based Compensation Shares Authorized Available and Outstanding by Plan [Table Text Block]	As of March 31, 201 9 Authorized Available Outstanding 2016 Plan 1,300,000 1,066,850 208,814 2014 Directors Plan 350,000 184,400 116,724 2005 Plan — — 345,800 2004 Directors Plan — — 12,000 Total 1,650,000 1,251,250 683,338
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Option Activity Shares Weighted Price Weighted Average (in years) Aggregate Outstanding at March 31, 2016 685,000 $ 4.65 5.7 $ 566,323 Granted 6,000 4.08 Exercised (18,000 ) 2.77 Forfeited (170,000 ) 6.44 Outstanding at March 31, 2017 503,000 $ 4.10 4.7 $ 145,946 Granted 120,000 3.53 Exercised (29,150 ) 2.59 Forfeited (3,700 ) 4.50 Expired (750 ) 1.60 Outstanding at March 31, 2018 589,400 $ 4.06 4.9 $ 675,300 Granted 50,000 3.00 Exercised (49,600 ) 2.17 Forfeited (50,000 ) 4.82 Outstanding at March 31, 2019 539,800 $ 4.06 4.7 $ 15,480 Exercisable at March 31, 2019 409,800 $ 4.30 3.4 $ 3,480
Schedule of Nonvested Share Activity [Table Text Block]	Nonvested Options Shares Weighted Nonvested at March 31, 2018 120,000 $ 1.81 Granted 50,000 1.52 Vested (40,000 ) 1.80 Nonvested at March 31, 2019 130,000 $ 1.70
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Outstanding Options Exercisable Options Range of Exercise Prices Number Remaining Weighted Exercise Price Number of Weighted Exercise Price $2.08 - $3.47 128,000 8.7 $ 3.18 28,000 $ 3.21 $3.48 - $3.70 45,200 2.3 $ 3.58 45,200 $ 3.58 $3.71 - $3.82 188,100 2.4 $ 3.82 188,100 $ 3.82 $3.83 - $5.91 178,500 4.9 $ 5.08 148,500 $ 5.30 Total stock options 539,800 4.7 $ 4.06 409,800 $ 4.30
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	201 9 201 8 201 7 Exercise Price $ 3.00 $ 3.83 $ 4.08 Volatility 49.94 % 51.91 % 51.13 % Risk Free Rate 2.40 % 2.50 % 0.60 % Vesting Period (in years) 4.0 3.0 0.5 Forfeiture Rate 0 % 0.00 % 0.00 % Expected Life (in years) 6.30 6.00 1.00 Dividend Rate 0 % 0 % 0 %
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nonves ted Restricted Stock Units Shares Weighted Nonvested Restricted stock units at March 31, 2016 — — Granted 25,000 $ 3.85 Nonvested restricted stock units at March 31, 2017 25,000 $ 3.85 Granted 28,074 $ 3.92 Vested (8,333 ) $ 3.85 Forfeited (5,066 ) $ 3.92 Nonvested restricted stock units at March 31, 2018 39,675 $ 3.89 Granted 23,923 $ 4.10 Vested (16,003 ) $ 3.88 Forfeited (8,781 ) $ 4.07 Nonvested restricted stock units at March 31, 2019 38,814 $ 3.98

Note 12 - (Loss) Earnings Per_2

Note 12 - (Loss) Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net Income (loss) Shares Per Share (in thousands, except per share amounts) Year ended March 31, 2019: Basic and diluted loss per share $ (3,596 ) 5,819 $ (0.62 ) Year ended March 31, 2018: Basic income per share $ 1,025 5,709 $ 0.18 Effective dilutive securities—Common stock options — 72 — Diluted income per share $ 1,025 5,781 $ 0.18 Year ended March 31, 2017: Basic and diluted loss per share $ (1,215 ) 5,658 $ (0.21 )

Note 14 - Product Line and Ge_2

Note 14 - Product Line and Geographic Information (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Revenue from External Customers by Products and Services [Table Text Block]	2019 2018 2017 Packaged sales Astaxanthin packaged $ 18,792 $ 20,560 $ 18,367 Spirulina packaged 7,867 8,815 7,489 Total packaged sales 26,659 29,375 25,856 Bulk sales Astaxanthin bulk 966 1,090 990 Spirulina bulk 2,340 3,650 5,196 Total bulk sales 3,306 4,740 6,186 Contract extraction revenue 237 — — Total net sales $ 30,202 $ 34,115 $ 32,042
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	201 9 201 8 201 7 (dollars in thousands) Net sales (1) United States $ 24,192 80 % $ 26,348 77 % $ 22,978 72 % Asia / Pacific 2,597 9 % 3,238 9 % 4,017 13 % Europe 2,316 8 % 2,540 8 % 3,652 11 % Other 1,097 3 % 1,989 6 % 1,395 4 % $ 30,202 100 % $ 34,115 100 % $ 32,042 100 %

Note 15 - Income Taxes (Tables)

Note 15 - Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	201 9 201 8 201 7 (in thousands) Current: Federal $ 4 $ 112 $ (2 ) State (21 ) (2 ) (3 ) Total current (expense) benefit (17 ) 110 (5 ) Deferred: Federal — — — State — — — Total deferred expense — — — Income tax (expense) benefit $ (17 ) $ 110 $ (5 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	201 9 201 8 201 7 (in thousands) Tax provision at federal statutory income tax rate $ 752 $ (282 ) $ 411 Stock based compensation 6 (11 ) (281 ) (Increase) decrease in valuation allowance (1,015 ) 1,565 (158 ) State income taxes benefit (expense), net of federal income tax effect 264 (36 ) 49 State rate adjustment (30 ) 3 (1 ) AMT Credit 4 112 — Tax Cuts and Jobs Act — (1,244 ) — Other, net 1 3 (25 ) Income tax (expense) benefit $ (17 ) $ 110 $ (5 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2019 201 8 201 7 (in thousands) Deferred tax assets: Net operating loss carry forwards $ 3,611 $ 2,903 $ 4,325 Inventory 509 295 405 Compensation accrual 131 153 187 Tax credit carry forwards 28 36 147 Interest limitation 174 — — Other 27 22 40 Gross deferred tax assets 4,480 3,409 5,104 Less valuation allowance (3,172 ) (2,158 ) (3,722 ) Net deferred tax assets 1,308 1,251 1,382 Deferred tax liability- Depreciation and amortization (1,308 ) (1,251 ) (1,382 ) Net deferred tax assets $ — $ — $ —
Schedule of Operating Loss and Tax Credit Carry Forwards [Table Text Block]	Expires March 31, Net Operating Research and 2020 $ — $ 8 2021 — 2 2022 2,839 — 2023 1,863 1 2026 159 — 2027 2,665 1 2028 1,612 16 2031 389 — 2032 44 — 2033 76 — 2034 392 — 2035 18 — 2037 1,681 — 2038 168 Indefinite carryforward 2,637 — $ 14,543 $ 28
Schedule of Alternative Minimum Tax Credit Carryforwards Refundable [Text Block]	Tax Year End ing : AMT Credit Refund Request (in thousands) March 31, 2019 $ 56 March 31, 2020 30 March 31, 2021 15 March 31, 2022 15 $ 116
Summary of Income Tax Contingencies [Table Text Block]	Open tax years ending March 31, Jurisdiction 2016 - 2019 U.S. Federal 2016 - 2019 State of Hawaii 2015 - 2019 State of California

Note 18 - Selected Quarterly _2

Note 18 - Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Quarterly Financial Information [Table Text Block]	First Second Third Fourth Year (in thousands, except per share data) 201 9 Net sales $ 7,145 $ 6,954 $ 10,044 $ 6,059 $ 30,202 Gross profit 1,836 2,285 4,116 2,229 10,466 Net income (loss) (1,275 ) (1,136 ) 288 (1,473 ) (3,596 ) Net income (loss) per share Basic and diluted (0.22 ) (0.20 ) 0.05 (0.25 ) (0.62 ) 201 8 Net sales $ 8,809 $ 8,055 $ 9,150 $ 8,101 $ 34,115 Gross profit 3,603 3,620 4,240 1,908 13,371 Net income (loss) 501 475 1,107 (1,058 ) 1,025 Net income (loss) per share Basic and diluted 0.09 0.08 0.19 (0.18 ) 0.18

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Mar. 31, 2019
Notes Tables
Valuation Allowances and Reserves [Table Text Block]	Additions Description Balance at Charged to Charged to Deductions Balance at Year Allowance for Doubtful Accounts: 2019 $ 27 $ — $ — $ — $ 27 2018 49 — — 22 27 2017 136 — — 87 49

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual)	12 Months Ended
	Mar. 31, 2019USD ($)	Jun. 30, 2019USD ($)	Apr. 12, 2019USD ($)	Aug. 30, 2018	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Aug. 30, 2016USD ($)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	$ 840,000				$ 1,329,000	$ 1,407,000
Working Capital (Deficit)	5,104,000				7,910,000
Line of Credit, Current	2,000,000				500,000
Unsecured Subordinated Loan From Skywords [Member] | Subsequent Event [Member]
Debt Instrument, Face Amount			$ 1,500,000
First Foundation Bank [Member]
Long-term Debt and Capital Lease Obligations, Current and Noncurrent	$ 5,828,000
Debt Service Coverage Ratio	(0.66)
Debt Covenant, Minimum Debt Service Coverage Ratio	1.25
First Foundation Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 2,000,000					$ 2,000,000
Line of Credit, Current	$ 2,000,000				$ 500,000
Current Ratio	1.49
Debt Covenant, Minimum Current Ratio	1.5			1.5		2.1
Proceeds from Lines of Credit, Total	$ 1,250,000

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)	12 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Apr. 01, 2019USD ($)
Cash, Uninsured Amount	$ 340,000	$ 829,000
Asset Retirement Obligation, Ending Balance	0	0
Contract with Customer, Liability, Revenue Recognized	133,000	119,000
Advertising Expense	2,413,000	1,548,000	$ 813,000
Unrecognized Tax Benefits, Ending Balance	0	0
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total	$ 0	$ 0
Subsequent Event [Member] | Minimum [Member] | Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 4,000,000
Operating Lease, Liability, Total				4,200,000
Subsequent Event [Member] | Maximum [Member] | Accounting Standards Update 2016-02 [Member]
Operating Lease, Liability, Total				$ 4,700,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers	2	2	1
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 1 [Member]
Concentration Risk, Percentage	33.00%	32.00%	24.00%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 2 [Member]
Concentration Risk, Percentage	24.00%	15.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers	3	3
Concentration Risk, Percentage	60.00%	77.00%

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Polices - Reconciliation of Cash and Restricted Cash (Details) - USD ($)	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Cash	$ 1,329,000	$ 1,407,000
Restricted cash	65,000
Cash and restricted cash at beginning of year	1,394,000	1,407,000	$ 1,240,000
Cash	840,000	1,329,000	1,407,000
Restricted cash		65,000
Cash and restricted cash at end of year	$ 840,000	$ 1,394,000	$ 1,407,000

Note 2 - Significant Accounti_5

Note 2 - Significant Accounting Policies - Estimated Useful Lives (Details)	12 Months Ended
	Mar. 31, 2019
Equipment [Member] | Minimum [Member]
Estimated useful lives (Year)	3 years
Equipment [Member] | Maximum [Member]
Estimated useful lives (Year)	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Estimated useful lives (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Estimated useful lives (Year)	7 years
Leasehold Improvements [Member] | Minimum [Member]
Estimated useful lives (Year)	10 years
Leasehold Improvements [Member] | Maximum [Member]
Estimated useful lives (Year)	25 years

Note 3 - Inventories (Details T

Note 3 - Inventories (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Inventory Abnormal Production Costs	$ 250,000	$ 538,000	$ 120,000
Non Inventoriable Fixed Costs	$ 176,000	$ 271,000	$ 134,000

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventory (Details) - USD ($) $ in Thousands		Mar. 31, 2019	Mar. 31, 2018
Raw materials		$ 495	$ 410
Work in process		4,032	2,602
Finished goods	[1]	6,587	5,878
Supplies		160	144
Inventories, net		$ 11,274	$ 9,034
[1]	Net of reserve for obsolescence of $1,000 and $5,000 at June 30, 2018 and March 31, 2018, respectively.

Note 4 - Equipment and Leaseh_3

Note 4 - Equipment and Leasehold Improvements (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Asset Impairment Charges, Total	$ 0	$ 0
Depreciation, Depletion and Amortization, Total	$ 1,908,000	$ 1,877,000	$ 1,978,000

Note 4 - Equipment and Leaseh_4

Note 4 - Equipment and Leasehold Improvements, Net - Components of Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Equipment and leasehold improvements, gross	$ 33,750	$ 32,531
Less accumulated depreciation and amortization	(19,254)	(17,346)
Construction in-progress	256	549
Equipment and leasehold improvements, net	14,752	15,734
Equipment [Member]
Equipment and leasehold improvements, gross	18,679	17,935
Leasehold Improvements [Member]
Equipment and leasehold improvements, gross	14,723	14,248
Furniture and Fixtures [Member]
Equipment and leasehold improvements, gross	$ 348	$ 348

Note 5 - Short-term Contract _2

Note 5 - Short-term Contract Obligations (Details Textual)	Nov. 30, 2018USD ($)a	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Payments to Acquire Buildings		$ 100,000
Short-term Non-bank Loans and Notes Payable		285,000
Short-term Obligation for Cellana Asset Purchase [Member]
Debt Instrument, Face Amount	$ 180,000
Debt Instrument, Interest Rate, Stated Percentage	6.25%
Short-term Non-bank Loans and Notes Payable		137,000
Short-term Obligation for Cellana Asset Purchase 2 [Member]
Debt Instrument, Face Amount	$ 215,000
Short-term Non-bank Loans and Notes Payable		148,000
Debt Instrument, Hold-back, Amount	38,000
Short-term Obligation for Cellana Asset Purchase 2 [Member] | Redeemed in Two Monthly Payments [Member]
Debt Instrument, Periodic Payment, Total	10,000
Short-term Obligation for Cellana Asset Purchase 2 [Member] | Redeemed in Ten Monthly Payments [Member]
Debt Instrument, Periodic Payment, Total	19,543
Cellana Asset Purchase [Member]
Noncash or Part Noncash Acquisition, Value of Assets Acquired, Total	495,000	495,000
Payments to Acquire Buildings	100,000
Issuance of Short Term Obligations	$ 395,000	$ (395,000)
Research Facility Owned by Cellana [Member]
Area of Real Estate Property | a	6

Note 6 - Line of Credit and L_3

Note 6 - Line of Credit and Long-term Debt (Details Textual)	Oct. 06, 2017USD ($)	Aug. 30, 2016USD ($)	Sep. 18, 2015USD ($)	Aug. 14, 2012USD ($)	Aug. 31, 2016USD ($)	Feb. 29, 2016USD ($)	Jul. 31, 2015USD ($)	Jul. 30, 2015USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2019USD ($)	Aug. 30, 2018
Line of Credit, Current									$ 2,000,000	$ 500,000
Repayments of Notes Payable			$ 500,000								$ 600,000
Long-term Debt, Total									126,000	156,000
Thermo Fisher Financial [Member]
Capital Leased Assets, Gross, Total					$ 52,000
Thermo Fisher Financial [Member] | Capital Lease Asses Payable in 36 Equal Monthly Payments [Member]
Debt Instrument, Interest Rate, Stated Percentage					12.90%
Debt Instrument Periodic Payments Number					36
Capital Lease Obligations, Total									7,800	28,000
Bank of the West Finance [Member]
Capital Leased Assets, Gross, Total						$ 51,000
Debt Instrument Periodic Payments Number						60
Bank of the West Finance [Member] | Capital Lease Obligations [Member]
Debt Instrument, Interest Rate, Stated Percentage						4.18%
Capital Lease Obligations, Total									22,000	32,000
Hungtington Technology Finance [Member]
Long-term Debt and Capital Lease Obligations, Current and Noncurrent							$ 174,000
Hungtington Technology Finance [Member] | Capital Lease Obligations [Member]
Debt Instrument, Interest Rate, Stated Percentage							6.57%
Long-term Debt and Capital Lease Obligations, Current and Noncurrent									$ 52,000	88,000
Debt Instrument Periodic Payments Number							60
The 2015 Loan Agreement [Member]
Proceeds from Issuance of Debt								$ 2,500,000
Debt Instrument, Prepayment Penalty Percentage									5.00%
Debt Instrument, Prepayment Penalty Percentage Reduction During Each Year									1.00%
Long-term Debt and Capital Lease Obligations, Current and Noncurrent									$ 1,389,000	1,726,000
Debt Instrument One Time Origination and Guaranty Fees									$ 113,900
Debt Instrument Annual Renewal Fee Payable Percentage									0.50%
Debt Instrument Guaranteed Portion									80.00%
The 2015 Loan Agreement [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage									6.00%
Term Loan Agreement, Maturing on August 14, 2032 [Member]
Debt Instrument Reference Rate									5.50%
Debt Instrument, Basis Spread on Variable Rate									1.00%
Proceeds from Issuance of Debt				$ 5,500,000
Long-term Debt and Capital Lease Obligations, Current and Noncurrent									$ 4,439,000	4,648,000
Debt Instrument One Time Origination and Guaranty Fees									$ 214,500
Debt Instrument Annual Renewal Fee Payable Percentage									0.25%
Debt Instrument Guaranteed Portion									80.00%
Debt Instrument Interest Payment Period				1 year
Debt Instrument Amortization Period				19 years
Term Loan Agreement, Maturing on August 14, 2032 [Member] | Minimum [Member]
Debt Instrument, Interest Rate During Period									5.50%
Term Loan Agreement, Promissory Note One [Member]
Proceeds from Issuance of Debt				$ 2,250,000
Term Loan Agreement, Promissory Note Two [Member]
Proceeds from Issuance of Debt				$ 3,250,000
Equipment Finance Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Debt Agreement, Maximum Borrowing Capacity	$ 175,000
Debt Instrument, Term	5 years
Prime Rate [Member] | The 2015 Loan Agreement [Member]
Debt Instrument Reference Rate									5.50%
Debt Instrument, Basis Spread on Variable Rate									2.00%
First Foundation Bank [Member]
Long-term Debt and Capital Lease Obligations, Current and Noncurrent									$ 5,828,000
First Foundation Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 2,000,000										$ 2,000,000
Line of Credit, Current									$ 2,000,000	$ 500,000
Debt Covenant, Minimum Current Ratio									1.5		2.1		1.5
First Foundation Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument Reference Rate									5.50%	4.75%
Debt Instrument, Basis Spread on Variable Rate		2.00%

Note 6 - Line of Credit and L_4

Note 6 - Line of Credit and Long-term Debt - Summary of Line of Credit and Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Line of credit	$ 2,000	$ 500
Long-term debt	6,035	6,678
Less current maturities	(2,663)	(1,155)
Long-term debt, excluding current maturities	5,372	6,023
Less unamortized debt issuance costs	(200)	(233)
Total long-term debt, net of current maturities and unamortized debt issuance costs	$ 5,172	$ 5,790

Note 6 - Line of Credit and L_5

Note 6 - Line of Credit and Long-term Debt - Future Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
2020	$ 663
2021	676
2022	698
2023	506
2024	278
Thereafter	3,214
Total principal payments	$ 6,035	$ 6,678

Note 7 - Accrued Expenses - Com

Note 7 - Accrued Expenses - Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Wages, commissions, bonus and profit sharing	$ 483	$ 707
Rent, interest and legal	235	69
Other accrued expenses	274	116
Total accrued expenses	$ 992	$ 892

Note 8 - Operating Leases (Deta

Note 8 - Operating Leases (Details Textual)	12 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Operating Leases, Rent Expense, Contingent Rentals	$ 54,000	$ 49,000	$ 80,000
Operating Leases, Rent Expense, Net, Total	$ 588,000	$ 578,000	$ 605,000
HAWAII1 [Member]
Leases, Number of Lease Properties	2
HAWAII1 [Member] | Commercial Lease Expiring in 2035 [Member]
Lessee, Operating Lease, Term of Contract	40 years
HAWAII1 [Member] | Commercial Lease Expiring in 2037 [Member]
Lessee, Operating Lease, Term of Contract	19 years

Note 8 - Operating Leases - Sum

Note 8 - Operating Leases - Summary of Future Minimum Lease Payments Under Non-cancelable Operating Leases (Details) $ in Thousands	Mar. 31, 2019USD ($)
2020	$ 567
2021	573
2022	572
2023	493
2024	336
Thereafter	4,028
Total minimum lease payments	$ 6,569

Note 9 - Other Commitments an_2

Note 9 - Other Commitments and Contingencies (Details Textual)	Mar. 31, 2019USD ($)
Purchase Obligation, Total	$ 951,000

Note 10 - Share-based Compens_3

Note 10 - Share-based Compensation (Details Textual)	Apr. 05, 2019$ / sharesshares	Mar. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018USD ($)$ / sharesshares	Mar. 31, 2017USD ($)$ / sharesshares	Aug. 25, 2016shares	Mar. 31, 2016$ / shares	Aug. 28, 2014shares
Number of Shareholder Approved Share-based Compensation Plans		2
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,251,250
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		1,650,000
Share Price | $ / shares		$ 3.24	$ 5.10	$ 3.85		$ 4.98
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $		$ 77,000	$ 67,000	$ 23,000
ShareBased Compensation Arrangement By Share Based Payment Award Weighted Average Grant Date Fair Value Options Granted | $		76,000	67,000	5,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $		72,000	57,000	332,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $		180,400
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense | $		$ 77,000	$ 62,000	$ 154,000
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		2 years 109 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		23,923	28,074	25,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares		$ 4.10	$ 3.92	$ 3.85
Restricted Stock Units (RSUs) [Member] | Employees [Member]
Share-based Payment Arrangement, Expense | $		$ 75,000	$ 62,000	$ 0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $		108,984
Restricted Stock Units (RSUs) [Member] | Employees [Member] | Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	561
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 3.22
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Restricted Stock [Member] | Non-employee Directors [Member]
Share-based Payment Arrangement, Expense | $		$ 170,000	$ 276,000	$ 78,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		47,223	57,501	19,117
Maximum [Member] | Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
The 2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized					1,300,000
The 2005 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized for Issuance in Connection with Performance Awards and Stock Awards					600,000
The 2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		1,066,850
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		1,300,000
2014 Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		184,400
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		350,000					350,000

Note 10 - Share-based Compens_4

Note 10 - Share-based Compensation - Shares Authorized, Available for Future Grant and Outstanding Under Each Plan (Details) - shares	Mar. 31, 2019	Aug. 25, 2016	Aug. 28, 2014
Authorized (in shares)	1,650,000
Available (in shares)	1,251,250
Outstanding (in shares)	683,338
The 2016 Plan [Member]
Authorized (in shares)	1,300,000
Available (in shares)	1,066,850
Outstanding (in shares)	208,814
2014 Directors Plan [Member]
Authorized (in shares)	350,000		350,000
Available (in shares)	184,400
Outstanding (in shares)	116,724
The 2005 Plan [Member]
Authorized (in shares)		1,300,000
Available (in shares)	0
Outstanding (in shares)	345,800
2004 Directors Plan [Member]
Authorized (in shares)
Available (in shares)
Outstanding (in shares)	12,000

Note 10 - Share-based Compens_5

Note 10 - Share-based Compensation - Summary of Option Activity Under Stock Plans (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Outstanding (in shares)	589,400	503,000	685,000
Outstanding, weighted average exercise price (in dollars per share)	$ 4.06	$ 4.10	$ 4.65
Outstanding, weighted average remaining contractual term (Year)	4 years 255 days	4 years 328 days	4 years 255 days	5 years 255 days
Outstanding, aggregate intrinsic value	$ 15,480	$ 675,300	$ 145,946	$ 566,323
Granted (in shares)	50,000	120,000	6,000
Granted, weighted average exercise price (in dollars per share)	$ 3	$ 3.53	$ 4.08
Exercised (in shares)	(49,600)	(29,150)	(18,000)
Exercised, weighted average exercise price (in dollars per share)	$ 2.17	$ 2.59	$ 2.77
Forfeited (in shares)	(50,000)	(3,700)	(170,000)
Forfeited, weighted average exercise price (in dollars per share)	$ 4.82	$ 4.50	$ 6.44
Expired (in shares)		(750)
Expired, weighted average exercise price (in dollars per share)		$ 1.60
Outstanding (in shares)	539,800	589,400	503,000	685,000
Outstanding, weighted average exercise price (in dollars per share)	$ 4.06	$ 4.06	$ 4.10	$ 4.65
Exercisable (in shares)	409,800
Exercisable, weighted average exercise price (in dollars per share)	$ 4.30
Exercisable, weighted average remaining contractual term (Year)	3 years 146 days
Exercisable, aggregate intrinsic value	$ 3,480

Note 10 - Share-based Compens_6

Note 10 - Share-based Compensation - Summary of Non-vested Options (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Nonvested (in shares)	120,000
Nonvested (in dollars per share)	$ 1.81
Granted (in shares)	50,000	120,000	6,000
Granted (in dollars per share)	$ 1.52
Vested (in shares)	(40,000)
Vested (in dollars per share)	$ 1.80
Nonvested (in shares)	130,000	120,000
Nonvested (in dollars per share)	$ 1.70	$ 1.81

Note 10 - Share-based Compens_7

Note 10 - Share-based Compensation - Summary of the Weighted-average Characteristics of Outstanding Stock Options (Details)	12 Months Ended
	Mar. 31, 2019$ / sharesshares
Outstanding Options Number of Shares (in shares) | shares	539,800
Outstanding Options Remaining Life (Year)	4 years 255 days
Outstanding Options Weighted Average Price (in dollars per share)	$ 4.06
Exercisable Options Number of Shares (in shares) | shares	409,800
Exercisable Options Weighted Average Price (in dollars per share)	$ 4.30
Range 01 [Member]
Lower Range of Exercise (in dollars per share)	2.08
Upper Range of Exercise (in dollars per share)	$ 3.47
Outstanding Options Number of Shares (in shares) | shares	128,000
Outstanding Options Remaining Life (Year)	8 years 255 days
Outstanding Options Weighted Average Price (in dollars per share)	$ 3.18
Exercisable Options Number of Shares (in shares) | shares	28,000
Exercisable Options Weighted Average Price (in dollars per share)	$ 3.21
Range 02 [Member]
Lower Range of Exercise (in dollars per share)	3.48
Upper Range of Exercise (in dollars per share)	$ 3.70
Outstanding Options Number of Shares (in shares) | shares	45,200
Outstanding Options Remaining Life (Year)	2 years 109 days
Outstanding Options Weighted Average Price (in dollars per share)	$ 3.58
Exercisable Options Number of Shares (in shares) | shares	45,200
Exercisable Options Weighted Average Price (in dollars per share)	$ 3.58
Range 03 [Member]
Lower Range of Exercise (in dollars per share)	3.71
Upper Range of Exercise (in dollars per share)	$ 3.82
Outstanding Options Number of Shares (in shares) | shares	188,100
Outstanding Options Remaining Life (Year)	2 years 146 days
Outstanding Options Weighted Average Price (in dollars per share)	$ 3.82
Exercisable Options Number of Shares (in shares) | shares	188,100
Exercisable Options Weighted Average Price (in dollars per share)	$ 3.82
Range 04 [Member]
Lower Range of Exercise (in dollars per share)	3.83
Upper Range of Exercise (in dollars per share)	$ 5.91
Outstanding Options Number of Shares (in shares) | shares	178,500
Outstanding Options Remaining Life (Year)	4 years 328 days
Outstanding Options Weighted Average Price (in dollars per share)	$ 5.08
Exercisable Options Number of Shares (in shares) | shares	148,500
Exercisable Options Weighted Average Price (in dollars per share)	$ 5.30

Note 10 - Share-based Compens_8

Note 10 - Share-based Compensation - Summary of Valuation Assumptions Related to Options Granted (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Exercise Price (in dollars per share)	$ 3	$ 3.83	$ 4.08
Volatility	49.94%	51.91%	51.13%
Risk Free Rate	2.40%	2.50%	0.60%
Vesting Period (Year)	4 years	3 years	182 days
Forfeiture Rate	0.00%	0.00%	0.00%
Expected Life (Year)	6 years 109 days	6 years	1 year
Dividend Rate	0.00%	0.00%	0.00%

Note 10 - Share-based Compens_9

Note 10 - Share-based Compensation - Restricted Stock Units (Details) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Nonvested restricted stock units (in shares)	683,338
Restricted Stock Units (RSUs) [Member]
Nonvested restricted stock units (in shares)	39,675	25,000
Nonvested restricted stock units, weighted average grant price (in dollars per share)	$ 3.89	$ 3.85
Granted (in shares)	23,923	28,074	25,000
Granted, weighted average grant price (in dollars per share)	$ 4.10	$ 3.92	$ 3.85
Vested (in shares)	(16,003)	(8,333)
Vested, weighted average grant price (in dollars per share)	$ (3.88)	$ (3.85)
Forfeited (in shares)	(8,781)	(5,066)
Forfeited, weighted average grant price (in dollars per share)	$ 4.07	$ 3.92
Vested, weighted average grant price (in dollars per share)	$ 3.88	$ 3.85
Nonvested restricted stock units (in shares)	38,814	39,675	25,000
Nonvested restricted stock units, weighted average grant price (in dollars per share)	$ 3.98	$ 3.89	$ 3.85

Note 11 - Common and Preferre_2

Note 11 - Common and Preferred Stock (Details Textual) - shares	Mar. 31, 2019	Mar. 31, 2018
Shares Authorized	60,000,000
Common Stock, Shares Authorized	50,000,000	50,000,000
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Preferred Stock, Shares Issued, Total	0	0
Preferred Stock, Shares Outstanding, Ending Balance	0	0

Note 12 - (Loss) Earnings Per_3

Note 12 - (Loss) Earnings Per Share (Details Textual) - shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	50,000		6,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	38,814	39,675	25,000

Note 12 - (Loss) Earnings Per_4

Note 12 - (Loss) Earnings Per Share - Summary of Reconciliations Between the Numerator and the Denominator of the Basic and Diluted Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Net (loss) income	$ (1,473)	$ 288	$ (1,136)	$ (1,275)	$ (1,058)	$ 1,107	$ 475	$ 501	$ (3,596)	$ 1,025	$ (1,215)
Shares outstanding - basic and diluted (in shares)									5,819		5,658
Basic and diluted loss per share (in dollars per share)	$ (0.25)	$ 0.05	$ (0.20)	$ (0.22)	$ (0.18)	$ 0.19	$ 0.08	$ 0.09	$ (0.62)	$ 0.18	$ (0.21)
Shares outstanding - basic (in shares)									5,819	5,709	5,658
Earnings per share - basic (in dollars per share)									$ (0.62)	$ 0.18	$ (0.21)
Effective dilutive securities—Common stock options
Effective dilutive securities—Common stock options oustanding (in shares)										72
Net income - diluted										$ 1,025
Shares outstanding - diluted (in shares)									5,819	5,781	5,658
Earnings per share - diluted (in dollars per share)									$ (0.62)	$ 0.18	$ (0.21)

Note 13 - Profit Sharing Plan_2

Note 13 - Profit Sharing Plan and 401k Plan (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Profit Sharing Defined Contribution Plan [Member]
Defined Contribution Plan, Cost	$ 9,100	$ 91,000	$ 4,000
Defined Contribution 401K Plan [Member]
Defined Contribution Plan, Cost	$ 116,000	$ 117,000	$ 139,000
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	2.00%

Note 14 - Product Line and Ge_3

Note 14 - Product Line and Geographic Information - Net Sales by Product Line (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Total net sales	$ 30,202	$ 34,115	$ 32,042
Packaged Astaxanthin [Member]
Total net sales	18,792	20,560	18,367
Packaged Spirulina [Member]
Total net sales	7,867	8,815	7,489
Packaged Products [Member]
Total net sales	26,659	29,375	25,856
Bulk Astaxanthin [Member]
Total net sales	966	1,090	990
Bulk Spirulina [Member]
Total net sales	2,340	3,650	5,196
Bulk Products [Member]
Total net sales	3,306	4,740	6,186
Contract Extraction [Member]
Total net sales	$ 237

Note 14 - Product Line and Ge_4

Note 14 - Product Line and Geographic Information - Sales by Geographic Region (Details) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Net sales		$ 30,202	$ 34,115	$ 32,042
Geographic Concentration Risk [Member]
Net sales	[1]	$ 30,202	$ 34,115	$ 32,042
Net sales, percent	[1]	100.00%	100.00%	100.00%
Geographic Concentration Risk [Member] | UNITED STATES
Net sales	[1]	$ 24,192	$ 26,348	$ 22,978
Net sales, percent	[1]	80.00%	77.00%	72.00%
Geographic Concentration Risk [Member] | Asia Pacific [Member]
Net sales	[1]	$ 2,597	$ 3,238	$ 4,017
Net sales, percent	[1]	9.00%	9.00%	13.00%
Geographic Concentration Risk [Member] | Europe [Member]
Net sales	[1]	$ 2,316	$ 2,540	$ 3,652
Net sales, percent	[1]	8.00%	8.00%	11.00%
Geographic Concentration Risk [Member] | Other Countries [Member]
Net sales	[1]	$ 1,097	$ 1,989	$ 1,395
Net sales, percent	[1]	3.00%	6.00%	4.00%
[1]	Net sales are attributed to countries based on location of customer.

Note 15 - Income Taxes (Details

Note 15 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	30.79%	34.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 1,200,000
Tax Credit Carryforward, Amount	$ 28,000
Alternative Minimum Tax, Sequestration Rate	6.20%
Adjusted Alternative Minimum Tax Credit Carryforward	$ 4,000
Alternative Minimum Tax Refundable	116,000
Operating Loss Carryforwards, Total	14,543,000
California Franchise Tax Board [Member] | State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	2,300,000
Hawaii Department of Taxation [Member] | State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total	7,712,000
AMT [Member]
Tax Credit Carryforward, Amount	$ 120,000
Taxable Year Beginning After 2017 and Before 2022 [Member]
Alternative Minimum Tax Refund Percentage	50.00%
taxable years beginning in 2021 [Member]
Alternative Minimum Tax Refund Percentage	100.00%

Note 15 - Income Taxes - Compon

Note 15 - Income Taxes - Components of Income Tax Benefit (Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Federal	$ 4	$ 112	$ (2)
State	(21)	(2)	(3)
Total current (expense) benefit	(17)	110	(5)
Federal
State
Total deferred expense
Income tax (expense) benefit	$ (17)	$ 110	$ (5)

Note 15 - Income Taxes - Reconc

Note 15 - Income Taxes - Reconciliation of the Amount of Income Taxes Computed at the Federal Statutory Rate to the Amount Reflected in Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Tax provision at federal statutory income tax rate	$ 752	$ (282)	$ 411
Stock based compensation	6	(11)	(281)
(Increase) decrease in valuation allowance	(1,015)	1,565	(158)
State income taxes benefit (expense), net of federal income tax effect	264	(36)	49
State rate adjustment	(30)	3	(1)
AMT Credit	4	112
Tax Cuts and Jobs Act		(1,244)
Other, net	1	3	(25)
Income tax (expense) benefit	$ (17)	$ 110	$ (5)

Note 15 - Income Taxes - Effect

Note 15 - Income Taxes - Effects of Temporary Differences Related to Various Assets, Liabilities and Carry Forwards That Give Rise to Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Net operating loss carry forwards	$ 3,611	$ 2,903	$ 4,325
Inventory	509	295	405
Compensation accrual	131	153	187
Tax credit carry forwards	28	36	147
Interest limitation	174
Other	27	22	40
Gross deferred tax assets	4,480	3,409	5,104
Less valuation allowance	(3,172)	(2,158)	(3,722)
Net deferred tax assets	1,308	1,251	1,382
Deferred tax liability- Depreciation and amortization	(1,308)	(1,251)	(1,382)
Net deferred tax assets	$ 0	$ 0

Note 15 - Income Taxes - Net Op

Note 15 - Income Taxes - Net Operating Loss Carry Forwards and Tax Credit Carry Forwards Available to Offset Future Federal Income Tax (Details) $ in Thousands	Mar. 31, 2019USD ($)
Operating Loss Carryforwards, Total	$ 14,543
Tax Credit Carryforward, Amount	28
Expiration Tax Year 2020 [Member]
Operating Loss Carryforwards, Total
Tax Credit Carryforward, Amount	8
Expiration Tax Period 2021 [Member]
Operating Loss Carryforwards, Total
Tax Credit Carryforward, Amount	2
Expiration Tax Year 2022 [Member]
Operating Loss Carryforwards, Total	2,839
Tax Credit Carryforward, Amount
Expiration Tax Year 2023 [Member]
Operating Loss Carryforwards, Total	1,863
Tax Credit Carryforward, Amount	1
Expiration Tax Year 2026 [Member]
Operating Loss Carryforwards, Total	159
Tax Credit Carryforward, Amount
Expiration Tax Year 2027 [Member]
Operating Loss Carryforwards, Total	2,665
Tax Credit Carryforward, Amount	1
ExpirationTax Year 2028 [Member]
Operating Loss Carryforwards, Total	1,612
Tax Credit Carryforward, Amount	16
Expiration Tax Year 2031 [Member]
Operating Loss Carryforwards, Total	389
Tax Credit Carryforward, Amount
Expiration Tax Year 2032 [Member]
Operating Loss Carryforwards, Total	44
Tax Credit Carryforward, Amount
Expiration Tax Year 2033 [Member]
Operating Loss Carryforwards, Total	76
Tax Credit Carryforward, Amount
Expiration Tax Year 2034 [Member]
Operating Loss Carryforwards, Total	392
Tax Credit Carryforward, Amount
Expiration Tax Year 2035 [Member]
Operating Loss Carryforwards, Total	18
Tax Credit Carryforward, Amount
Expiration Tax Year 2037 [Member]
Operating Loss Carryforwards, Total	1,681
Tax Credit Carryforward, Amount
Expiration Tax Year 2038 [Member]
Operating Loss Carryforwards, Total	168
Tax Credit Carryforward, Amount
Indefinite Period [Member]
Operating Loss Carryforwards, Total	2,637
Tax Credit Carryforward, Amount

Note 15 - Income Taxes - Refund

Note 15 - Income Taxes - Refundable Alternative Minimum Tax Credit Carryforwards (Details)	Mar. 31, 2019USD ($)
Refundable Alternative Minimum Tax Credit Carryforward	$ 116,000
Tax Year 2018 [Member]
Refundable Alternative Minimum Tax Credit Carryforward	56,000
Tax Year 2019 [Member]
Refundable Alternative Minimum Tax Credit Carryforward	30,000
Tax Year 2020 [Member]
Refundable Alternative Minimum Tax Credit Carryforward	15,000
Tax Year 2021 [Member]
Refundable Alternative Minimum Tax Credit Carryforward	15,000
Tax Year 2022 [Member]
Refundable Alternative Minimum Tax Credit Carryforward	$ 116,000

Note 15 - Income Taxes - Open T

Note 15 - Income Taxes - Open Tax Years and Jurisdictions That the Company Used In Its Evaluation of Tax Positions (Details)	12 Months Ended
	Mar. 31, 2019
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member]
Open tax year	2016
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Latest Tax Year [Member]
Open tax year	2019
State and Local Jurisdiction [Member] | Hawaii Department of Taxation [Member] | Earliest Tax Year [Member]
Open tax year	2016
State and Local Jurisdiction [Member] | Hawaii Department of Taxation [Member] | Latest Tax Year [Member]
Open tax year	2019
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | Earliest Tax Year [Member]
Open tax year	2015
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member] | Latest Tax Year [Member]
Open tax year	2019

Note 16 - Related-party Trans_2

Note 16 - Related-party Transactions and Balances (Details Textual)	Mar. 31, 2019USD ($)
Director [Member]
Due to Related Parties, Total	$ 120,000

Note 17 - Subsequent Events (De

Note 17 - Subsequent Events (Details Textual) - Unsecured Subordinated Loan From Skywords [Member] - Subsequent Event [Member]	Apr. 12, 2019USD ($)
Debt Instrument, Face Amount	$ 1,500,000
Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%

Note 18 - Selected Quarterly _3

Note 18 - Selected Quarterly Financial Data (Unaudited) - Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Net sales	$ 6,059	$ 10,044	$ 6,954	$ 7,145	$ 8,101	$ 9,150	$ 8,055	$ 8,809	$ 30,202	$ 34,115
Gross profit	2,229	4,116	2,285	1,836	1,908	4,240	3,620	3,603	10,466	13,371	$ 12,224
Net income (loss)	$ (1,473)	$ 288	$ (1,136)	$ (1,275)	$ (1,058)	$ 1,107	$ 475	$ 501	$ (3,596)	$ 1,025	$ (1,215)
Net income (loss) per share
Basic and diluted loss per share (in dollars per share)	$ (0.25)	$ 0.05	$ (0.20)	$ (0.22)	$ (0.18)	$ 0.19	$ 0.08	$ 0.09	$ (0.62)	$ 0.18	$ (0.21)
Net sales	$ 6,059	$ 10,044	$ 6,954	$ 7,145	$ 8,101	$ 9,150	$ 8,055	$ 8,809	$ 30,202	$ 34,115
Gross profit	2,229	4,116	2,285	1,836	1,908	4,240	3,620	3,603	10,466	13,371	$ 12,224
Net income (loss)	$ (1,473)	$ 288	$ (1,136)	$ (1,275)	$ (1,058)	$ 1,107	$ 475	$ 501	$ (3,596)	$ 1,025	$ (1,215)

Schedule II - Valuation and Q_3

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Credit Loss [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Balance at Beginning of Year	$ 27	$ 49	$ 136
Additions Charged to Costs and Expense
Additions Charged to Other Accounts
Deductions		22	87
Balance at End of Year	$ 27	$ 27	$ 49