Cyanotech (CYAN) 10-Q 10 Feb 22 2022 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Dec. 31, 2021	Feb. 04, 2022
Document Information [Line Items]
Entity Central Index Key	0000768408
Entity Registrant Name	Cyanotech Corp
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	0-14602
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	91-1206026
Entity Address, Address Line One	73-4460 Queen Kaahumanu Hwy. #102
Entity Address, City or Town	Kailua-Kona
Entity Address, State or Province	HI
Entity Address, Postal Zip Code	96740
City Area Code	808
Local Phone Number	326-1353
Title of 12(b) Security	Common Stock, $0.02 par value per share
Trading Symbol	CYAN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		6,194,166

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2021	Mar. 31, 2021
Current assets:
Cash	$ 2,298,000	$ 3,767,000
Accounts receivable, net of allowance for doubtful accounts of $156 as of December 31, 2021 and $32 as of March 31, 2021	4,526,000	2,436,000
Inventories	8,724,000	8,415,000
Prepaid expenses and other current assets	293,000	488,000
Total current assets	15,841,000	15,106,000
Equipment and leasehold improvements, net	11,936,000	12,136,000
Operating lease right-of-use assets, net	3,412,000	3,517,000
Other assets	112,000	120,000
Total assets	31,301,000	30,879,000
Current liabilities:
Accounts payable	2,275,000	2,287,000
Accrued expenses	1,291,000	844,000
Customer deposits	83,000	124,000
Operating lease obligations, current portion	382,000	343,000
Line of credit	0	1,000,000
Current maturities of long-term debt	626,000	1,210,000
Total current liabilities	4,657,000	5,808,000
Long-term debt, less current maturities	4,400,000	4,823,000
Long-term operating lease obligations	3,027,000	3,175,000
Other long-term liabilities	20,000	32,000
Total liabilities	12,104,000	13,838,000
Commitments and contingencies
Stockholders’ equity:
Preferred stock of $0.01 par value, authorized 10,000,000 shares; no shares issued and outstanding	0	0
Common stock of $0.02 par value, authorized 50,000,000 shares; issued and outstanding 6,194,166 shares at December 31, 2021 and 6,116,073 shares at March 31, 2021	124,000	122,000
Additional paid-in capital	33,544,000	33,267,000
Accumulated deficit	(14,471,000)	(16,348,000)
Total stockholders’ equity	19,197,000	17,041,000
Total liabilities and stockholders’ equity	$ 31,301,000	$ 30,879,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Accounts receivable, allowance for doubtful accounts	$ 156	$ 32
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)	6,194,166	6,116,073
Common stock, shares outstanding (in shares)	6,194,166	6,116,073

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 9,459,000	$ 6,985,000	$ 27,842,000	$ 22,907,000
Cost of sales	6,221,000	4,914,000	17,170,000	14,560,000
Gross profit	3,238,000	2,071,000	10,672,000	8,347,000
Operating expenses:
General and administrative	1,403,000	1,001,000	4,171,000	3,801,000
Sales and marketing	1,127,000	1,300,000	3,808,000	3,918,000
Research and development	200,000	211,000	483,000	519,000
Total operating expenses	2,730,000	2,512,000	8,462,000	8,238,000
Income (loss) from operations	508,000	(441,000)	2,210,000	109,000
Interest expense, net	(116,000)	(123,000)	(312,000)	(374,000)
Gain on extinguishment of debt	0	1,389,000	0	1,389,000
Income before income taxes	392,000	825,000	1,898,000	1,124,000
Income tax expense (benefit)	6,000	(2,000)	21,000	3,000
Net income	$ 386,000	$ 827,000	$ 1,877,000	$ 1,121,000
Net income per share:
Basic (in dollars per share)	$ 0.06	$ 0.14	$ 0.31	$ 0.18
Diluted (in dollars per share)	$ 0.06	$ 0.13	$ 0.30	$ 0.18
Shares used in calculation of net income per share:
Basic (in shares)	6,183	6,097	6,144	6,060
Diluted (in shares)	6,371	6,222	6,219	6,169

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Former Executive [Member]Common Stock [Member]	Former Executive [Member]Additional Paid-in Capital [Member]	Former Executive [Member]Retained Earnings [Member]	Former Executive [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Mar. 31, 2020					6,011,885
Balance at Mar. 31, 2020					$ 120	$ 32,994	$ (17,268)	$ 15,846
Issuances of common stock for Director Stock Grants (in shares)					66,385
Issuances of common stock for Director Stock Grants					$ 1	157	0	158
Share-based compensation expense					0	38	0	38
Net income (loss)					$ 0	0	1,121	1,121
Issuance of vested shares of restricted stock (in shares)					17,469
Issuance of vested shares of restricted stock					$ 1	(7)	0	(6)
Shares withheld for tax payments (in shares)	(3,635)				(6,431)
Shares withheld for tax payments	$ 0	$ 0	$ 0	$ 0	$ 0	0	0	0
Issuance of common stock in connection with severance of former executive (in shares)					11,400
Issuance of common stock in connection with severance of former executive					$ 0	0	0	0
Balance (in shares) at Dec. 31, 2020					6,097,073
Balance at Dec. 31, 2020					$ 122	33,182	(16,147)	17,157
Balance (in shares) at Sep. 30, 2020					6,097,073
Balance at Sep. 30, 2020					$ 122	33,164	(16,974)	16,312
Share-based compensation expense					0	18	0	18
Net income (loss)					$ 0	0	827	827
Balance (in shares) at Dec. 31, 2020					6,097,073
Balance at Dec. 31, 2020					$ 122	33,182	(16,147)	17,157
Balance (in shares) at Mar. 31, 2021					6,116,073
Balance at Mar. 31, 2021					$ 122	33,267	(16,348)	17,041
Issuances of common stock for Director Stock Grants (in shares)					55,438
Issuances of common stock for Director Stock Grants					$ 1	157	0	158
Share-based compensation expense					0	160	0	160
Net income (loss)					$ 0	0	1,877	1,877
Issuance of vested shares of restricted stock (in shares)					34,751
Issuance of vested shares of restricted stock					$ 1	(40)	0	(39)
Shares withheld for tax payments (in shares)					(12,096)
Shares withheld for tax payments					$ 0	0	0	0
Balance (in shares) at Dec. 31, 2021					6,194,166
Balance at Dec. 31, 2021					$ 124	33,544	(14,471)	19,197
Balance (in shares) at Sep. 30, 2021					6,138,728
Balance at Sep. 30, 2021					$ 123	33,347	(14,857)	18,613
Issuances of common stock for Director Stock Grants (in shares)					55,438
Issuances of common stock for Director Stock Grants					$ 1	157	0	158
Share-based compensation expense					0	40	0	40
Net income (loss)					$ 0	0	386	386
Balance (in shares) at Dec. 31, 2021					6,194,166
Balance at Dec. 31, 2021					$ 124	$ 33,544	$ (14,471)	$ 19,197

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,877,000	$ 1,121,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	1,202,000	1,340,000
Gain from extinguishment of debt – PPP loan	0	(1,389,000)
Amortization of debt issue costs and other assets	45,000	73,000
Amortization of operating leases right-of-use assets	232,000	236,000
Share-based compensation expense	318,000	196,000
Provision for doubtful accounts	124,000	31,000
Net (increase) decrease in assets:
Accounts receivable	(2,214,000)	441,000
Inventories	(309,000)	64,000
Prepaid expenses and other assets	180,000	78,000
Net increase (decrease) in liabilities:
Accounts payable	(269,000)	(665,000)
Accrued expenses	447,000	(140,000)
Customer deposits	(41,000)	(211,000)
Operating lease obligations	(236,000)	(236,000)
Deferred rent and other liabilities	(12,000)	(20,000)
Net cash provided by operating activities	1,344,000	919,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in equipment and leasehold improvements	(745,000)	(583,000)
Net cash used in investing activities	(745,000)	(583,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on short-term contract obligation	0	(38,000)
Net payments on line of credit	(1,000,000)	(250,000)
Net payments on debt – related party	(500,000)	0
Proceeds from long-term debt – PPP loan	0	1,381,000
Principal payments on long-term debt	(529,000)	(498,000)
Payments on finance leases	0	(20,000)
Taxes paid related to net share settlement of restricted stock units	(39,000)	(6,000)
Net cash (used in) provided by financing activities	(2,068,000)	569,000
Net (decrease) increase in cash	(1,469,000)	905,000
Cash at beginning of period	3,767,000	2,417,000
Cash at end of period	2,298,000	3,322,000
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	268,000	344,000
Income taxes	$ 2,000	$ 14,000

Note 1 - Organization and Basis

Note 1 - Organization and Basis of Presentation	9 Months Ended
	Dec. 31, 2021
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 unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information pursuant to the instructions to Form 10 X Accordingly, they do not not March 31, 2021 March 31, 2021, 10 June 22, 2021. Liquidity and Capital Resources As of December 31, 2021, March 31, 2021. December 31, 2021 March 31, 2021, August 30, 2022 As of December 31, 2021, August 2032. March 31, 2021, In response to the coronavirus (“COVID- 19” May 2020, 2020 December 2020, 6 April 2019, April 12, 2021, 6 13 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. 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 its operations through at least December 31, 2022, March 31, 2022, no March 31, 2022.

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. SIGNIFICANT ACCOUNTING POLICIES Consolidation The accompanying condensed consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All intercompany balances and transactions have been eliminated in consolidation. 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. Cash Cash consists of cash on hand and cash in bank deposits. Concentration Risk A significant portion of revenue and accounts receivable are derived from a few major customers. For the three December 31, 2021, two three December 31, 2020, two nine December 31, 2021, two nine December 31, 2020, two December 31, 2021, three March 31, 2021. 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 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 three December 31, 2021 2020, March 31, 2021 2020, nine December 31, 2021 2020, March 31, 2021 2020, one not Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the: ($ in thousands) Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Packaged sales Astaxanthin packaged $ 3,563 $ 3,388 Spirulina packaged 1,612 1,659 Total packaged sales 5,175 5,047 Bulk sales Astaxanthin bulk 1,128 291 Spirulina bulk 2,990 1,413 Total bulk sales 4,118 1,704 Contract extraction revenue 166 234 Total net sales $ 9,459 $ 6,985 ($ in thousands) Nine Months Ended December 31, 2021 Nine Months Ended December 31, 2020 Packaged sales Astaxanthin packaged $ 11,618 $ 10,767 Spirulina packaged 6,150 5,626 Total packaged sales 17,768 16,393 Bulk sales Astaxanthin bulk 2,041 1,173 Spirulina bulk 7,558 4,628 Total bulk sales 9,599 5,801 Contract extraction revenue 475 713 Total net sales $ 27,842 $ 22,907 Recently Adopted Accounting Pronouncements In December 2019, 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 2019 12 December 15, 2020, 2019 12 April 1, 2021 no In November 2018, 2018 18 Collaborative Arrangements 2018 18” not 606, April 1, 2018, 2018 18 April 1, 2020 no 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 ) No. 2018 15 April 1, 2020 no In August 2018, 2018 13, Fair Value Measurement - Disclosure Framework (Topic 820 ) No. 2018 13” April 1, 2020, no

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Inventory Disclosure [Text Block]	3. INVENTORIES Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first first December 31, 2021 March 31, 2021 (in thousands) Raw materials $ 1,399 $ 547 Work in process 3,273 3,206 Finished goods 3,743 4,423 Supplies 309 239 Inventories $ 8,724 $ 8,415 The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, fixed production overhead costs, idle facilities, freight handling costs and spoilage, as an expense in the period incurred, without adjusting overhead absorption rates. Normal production 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. The Company had no abnormal productions costs for the three nine December 31, 2021 2020. Beginning in fiscal 2021, first six 2022. not Other non-inventoriable fixed costs of $76,000 and $79,000 were expensed to cost of sales for the three December 31, 2021 2020, nine December 31, 2021 2020,

Note 4 - Equipment and Leasehol

Note 4 - Equipment and Leasehold Improvements	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4. EQUIPMENT AND LEASEHOLD IMPROVEMENTS Equipment and leasehold improvements consist of the following as of: December 31, 2021 March 31, 2021 (in thousands) Equipment $ 20,128 $ 19,056 Leasehold improvements 14,751 14,703 Furniture and fixtures 376 372 35,255 34,131 Less accumulated depreciation and amortization (23,942 ) (22,740 ) Construction-in-progress 623 745 Equipment and leasehold improvements, net $ 11,936 $ 12,136 Management has determined no asset impairment existed as of December 31, 2021 March 31, 2021, three December 31, 2021 2020, nine December 31, 2021 2020,

Note 5 - Short-term Contract Ob

Note 5 - Short-term Contract Obligation	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Short-term Debt [Text Block]	5. SHORT-TERM CONTRACT OBLIGATION On November 30, 2018, six August 31, 2018. third The short-term obligation was comprised of two $180,000 $215,000. first four December 1, 2018 July 15, 2019. no December 31, 2021 March 31, 2021. The second twelve December 1, 2018 October 15, 2019. 2021, December 31, 2021 March 31, 2021.

Note 6 - Line of Credit and Lon

Note 6 - Line of Credit and Long-term Debt	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	6. LINE OF CREDIT AND LONG-TERM DEBT Total debt consists of the following as of: December 31, 2021 March 31, 2021 (in thousands) Line of credit $ — $ 1,000 Long-term debt 4,145 4,673 Debt - related party 1,000 1,500 Less current maturities (626 ) (2,210 ) Long-term debt, excluding current maturities 4,519 4,963 Less unamortized debt issuance costs (119 ) (140 ) Total long-term debt, net of current maturities and unamortized debt issuance costs $ 4,400 $ 4,823 Line of Credit and Term Loans On August 30, 2016, June 3, 2016, December 31, 2021 March 31, 2021) no At December 31, 2021, March 31, 2021, August 30, 2021 August 30, 2022. 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, “2015 July 30, 2015 ( “2015 2015 $2,500,000, 2015 September 18, 2015, The provisions of the 2015 September 1, 2022, seven 2015 December 31, 2021 March 31, 2021, first no 2015 first 2015 fifth no 2015 December 31, 2021 March 31, 2021, In 2012, “2012 August 14, 2012 “2012 2012 2012 The provisions of the 2012 first August 14, 2032, nineteen 19 2012 December 31, 2021 March 31, 2021 first no 2012 December 31, 2021 March 31, 2021, The 2015 one December 31 December 31, 2015. 2015 2012 one December 31 December 31, 2012. 2012 December 31, 2021 March 31, 2021, Loan Covenants The Company’s Credit Agreement, 2015 2012 March 31, 2021, March 31, 2022. Long-term Debt PPP In May 2020, May 2022. December 2020, three nine December 31, 2020, Debt Related Party In April 2019, April 2021. April 2021, April 2024, 13 December 31, 2021, March 31, 2021, Equipment Finance Agreement In October 2017, October 31, 2022. December 31, 2021 March 31, 2021, Future principal payments under the loans and finance lease obligations at December 31, 2021 Payments Due (in thousands) Remainder of 2022 $ 243 2023 477 2024 1,289 2025 306 2026 322 Thereafter 2,508 Total principal payments $ 5,145

Note 7 - Operating Leases

Note 7 - Operating Leases	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	7. OPERATING LEASES The Company leases facilities, equipment and land under non-cancelable operating leases expiring through 2037. five April 1, 2019 second 2021, one December 31, 2021, nine December 31, 2021 2020, Supplemental balance sheet information related to leases consist of the following as of: Operating leases Balance Sheet Classification December 31, 2021 March 31, 2021 (in thousands) Right-of-use assets Operating lease right-of-use assets $ 4,255 $ 4,128 Accumulated lease amortization Operating lease right-of-use assets (843 ) (611 ) Total right-of-use assets $ 3,412 $ 3,517 Current lease liabilities Operating lease obligations $ 382 $ 343 Non-current lease liabilities Long-term operating lease obligations 3,027 3,175 Total lease liabilities $ 3,409 $ 3,518 Maturities of lease liabilities at December 31, 2021 Payments (in thousands) Remainder of 2022 $ 464 2023 396 2024 396 2025 374 2026 362 Thereafter 3,299 Total undiscounted lease payments 5,291 Less: present value discount (1,882 ) Total lease liability balance $ 3,409

Note 8 - Accrued Expenses

Note 8 - Accrued Expenses	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	8. ACCRUED EXPENSES Accrued expenses consist of the following as of: December 31, 2021 March 31, 2021 (in thousands) Wages, commissions, bonus and profit sharing $ 521 $ 211 Vacation 399 408 Rent, interest and legal 184 86 Other accrued expenses 187 139 Total accrued expenses $ 1,291 $ 844

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. COMMITMENTS AND CONTINGENCIES From time to time, the Company may no December 31, 2021.

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	10. SHARE-BASED COMPENSATION The Company has share-based compensation plans, which are more fully described in Note 10, 10 March 31, 2021 June 22, 2021. As of December 31, 2021, 2016 “2016 2014 “2014 December 31, 2021, two 2005 “2005 2004 “2004 2005 2004 At the 2021 2014 The following table presents shares authorized, available for future grant and outstanding under each of the Company’s plans: As of December 31, 2021 Authorized Available Outstanding 2016 Plan 1,300,000 993,121 214,174 2014 Directors Plan 650,000 287,695 12,000 2005 Plan — — 51,500 2004 Directors Plan — — 6,000 Total 1,950,000 1,280,816 283,674 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 three December 31, 2021 2020, nine December 31, 2021 2020, A summary of option activity under the Company’s stock plans for the nine December 31, 2021 Option Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at March 31, 2021 374,300 $ 3.64 3.0 $ 129,700 Granted 50,000 $ 2.96 Forfeited (3,000 ) $ 4.95 Expired (166,800 ) $ 3.84 Outstanding at December 31, 2021 254,500 $ 3.36 6.7 $ 135,600 Exercisable at December 31, 2021 112,833 $ 4.37 4.1 $ 39,183 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 and $3.30 at December 31, 2021 March 31, 2021, A summary of the Company’s non-vested options for the nine December 31, 2021 Nonvested Options Shares Weighted Average Grant-Date Fair Value Nonvested at March 31, 2021 125,000 $ 1.19 Granted 50,000 1.60 Vested (33,333 ) 1.20 Nonvested at December 31, 2021 141,667 $ 1.33 The weighted average grant-date fair value of stock options granted during the nine December 31, 2021 December 31, 2021, Restricted Stock Grants of fully vested restricted stock issued to Non-Employee Directors during the nine December 31, 2021 2020 2014 three December 31, 2021 2020, nine December 31, 2021 2020. Restricted Stock Units ( RSUs ) RSUs are service-based awards granted to eligible employees under the 2016 2016 three December 31, 2021 2020, 2016 nine December 31, 2021 2020, The following table summarizes information related to awarded RSUs for the nine December 31, 2021: Nonvested Restricted Stock Units Shares Weighted Average Grant Price Nonvested restricted stock units at March 31, 2021 28,188 $ 2.38 Granted 38,672 2.91 Vested (34,751 ) 2.84 Forfeited (2,935 ) 2.61 Nonvested restricted stock units at December 31, 2021 29,174 $ 2.52 As of December 31, 2021,

Note 11 - Income Taxes

Note 11 - Income Taxes	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. INCOME TAXES On December 22, 2017 1, January 1, 2018. March 31, 2019 The Company utilizes its estimated annual effective tax rate to determine its provision or benefit for income taxes for interim periods. The income tax provision or benefit is computed by multiplying the estimated annual effective tax rate by the year-to-date pre-tax book income (loss). The Company recorded an income tax expense of $6,000 and an income tax benefit of $2,000 for the three December 31, 2021 2020, nine December 31, 2021 2020, three December 31, 2021 2020, nine December 31, 2021 2020, not not The Company is subject to taxation in the United States and seven may may As of December 31, 2021 2020, With few exceptions, the Company is no 2017. In response to the COVID- 19 March 2020. may 2018 2020 five not 80% 2018, 2019 2020. 2020 In addition, the CARES Act increases the limitation applied to the deductibility of business interest from 30% 50% 2019 2020 25% 15 100% not three nine December 31, 2021 2020. On December 27, 2020, 2021 2020 276 2020 32 2020 27, third 2021.

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	12. EARNINGS PER SHARE Basic earnings 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 per share computations for the three nine December 31, 2021 2020 Three Months Ended December 31, 2021 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 386 6,183 $ 0.06 Effective dilutive securities – common stock options and restricted stock units — 188 — Diluted income per share $ 386 6,371 $ 0.06 Three Months Ended December 31, 2020 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 827 6,097 $ 0.14 Effective dilutive securities – common stock options and restricted stock units — 125 — Diluted income per share $ 827 6,222 $ 0.13 Nine Months Ended December 31, 2021 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 1,877 6,144 $ 0.31 Effective dilutive securities – common stock options and restricted stock units — 75 — Diluted income per share $ 1,877 6,219 $ 0.30 Nine Months Ended December 31, 2020 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 1,121 6,060 $ 0.18 Effective dilutive securities – common stock options and restricted stock units — 109 — Diluted income per share $ 1,121 6,169 $ 0.18 Restricted stock units become dilutive within the period granted and remain dilutive until the units vest and are issued as common stock.

Note 13 - Related Party Transac

Note 13 - Related Party Transactions	9 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	13. RELATED PARTY TRANSACTIONS In April 2019, April 12, 2021. On April 12, 2021, may not three April 12, 2021, no April 12, 2024, may On April 12, 2021, two At December 31, 2021 March 31, 2021, December 31, 2021 March 31, 2021,

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Consolidation The accompanying condensed consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All intercompany balances and transactions have been eliminated in consolidation.
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.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Cash consists of cash on hand and cash in bank deposits.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentration Risk A significant portion of revenue and accounts receivable are derived from a few major customers. For the three December 31, 2021, two three December 31, 2020, two nine December 31, 2021, two nine December 31, 2020, two December 31, 2021, three March 31, 2021.
Revenue from Contract with Customer [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 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 three December 31, 2021 2020, March 31, 2021 2020, nine December 31, 2021 2020, March 31, 2021 2020, one not Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the: ($ in thousands) Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Packaged sales Astaxanthin packaged $ 3,563 $ 3,388 Spirulina packaged 1,612 1,659 Total packaged sales 5,175 5,047 Bulk sales Astaxanthin bulk 1,128 291 Spirulina bulk 2,990 1,413 Total bulk sales 4,118 1,704 Contract extraction revenue 166 234 Total net sales $ 9,459 $ 6,985 ($ in thousands) Nine Months Ended December 31, 2021 Nine Months Ended December 31, 2020 Packaged sales Astaxanthin packaged $ 11,618 $ 10,767 Spirulina packaged 6,150 5,626 Total packaged sales 17,768 16,393 Bulk sales Astaxanthin bulk 2,041 1,173 Spirulina bulk 7,558 4,628 Total bulk sales 9,599 5,801 Contract extraction revenue 475 713 Total net sales $ 27,842 $ 22,907
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements In December 2019, 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 2019 12 December 15, 2020, 2019 12 April 1, 2021 no In November 2018, 2018 18 Collaborative Arrangements 2018 18” not 606, April 1, 2018, 2018 18 April 1, 2020 no 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 ) No. 2018 15 April 1, 2020 no In August 2018, 2018 13, Fair Value Measurement - Disclosure Framework (Topic 820 ) No. 2018 13” April 1, 2020, no

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Disaggregation of Revenue [Table Text Block]	($ in thousands) Three Months Ended December 31, 2021 Three Months Ended December 31, 2020 Packaged sales Astaxanthin packaged $ 3,563 $ 3,388 Spirulina packaged 1,612 1,659 Total packaged sales 5,175 5,047 Bulk sales Astaxanthin bulk 1,128 291 Spirulina bulk 2,990 1,413 Total bulk sales 4,118 1,704 Contract extraction revenue 166 234 Total net sales $ 9,459 $ 6,985 ($ in thousands) Nine Months Ended December 31, 2021 Nine Months Ended December 31, 2020 Packaged sales Astaxanthin packaged $ 11,618 $ 10,767 Spirulina packaged 6,150 5,626 Total packaged sales 17,768 16,393 Bulk sales Astaxanthin bulk 2,041 1,173 Spirulina bulk 7,558 4,628 Total bulk sales 9,599 5,801 Contract extraction revenue 475 713 Total net sales $ 27,842 $ 22,907

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, 2021 March 31, 2021 (in thousands) Raw materials $ 1,399 $ 547 Work in process 3,273 3,206 Finished goods 3,743 4,423 Supplies 309 239 Inventories $ 8,724 $ 8,415

Note 4 - Equipment and Leaseh_2

Note 4 - Equipment and Leasehold Improvements (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	December 31, 2021 March 31, 2021 (in thousands) Equipment $ 20,128 $ 19,056 Leasehold improvements 14,751 14,703 Furniture and fixtures 376 372 35,255 34,131 Less accumulated depreciation and amortization (23,942 ) (22,740 ) Construction-in-progress 623 745 Equipment and leasehold improvements, net $ 11,936 $ 12,136

Note 6 - Line of Credit and L_2

Note 6 - Line of Credit and Long-term Debt (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	December 31, 2021 March 31, 2021 (in thousands) Line of credit $ — $ 1,000 Long-term debt 4,145 4,673 Debt - related party 1,000 1,500 Less current maturities (626 ) (2,210 ) Long-term debt, excluding current maturities 4,519 4,963 Less unamortized debt issuance costs (119 ) (140 ) Total long-term debt, net of current maturities and unamortized debt issuance costs $ 4,400 $ 4,823
Schedule of Maturities of Long-term Debt [Table Text Block]	Payments Due (in thousands) Remainder of 2022 $ 243 2023 477 2024 1,289 2025 306 2026 322 Thereafter 2,508 Total principal payments $ 5,145

Note 7 - Operating Leases (Tabl

Note 7 - Operating Leases (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Supplement Balance Sheet Information for Operating Lease [Table Text Block]	Operating leases Balance Sheet Classification December 31, 2021 March 31, 2021 (in thousands) Right-of-use assets Operating lease right-of-use assets $ 4,255 $ 4,128 Accumulated lease amortization Operating lease right-of-use assets (843 ) (611 ) Total right-of-use assets $ 3,412 $ 3,517 Current lease liabilities Operating lease obligations $ 382 $ 343 Non-current lease liabilities Long-term operating lease obligations 3,027 3,175 Total lease liabilities $ 3,409 $ 3,518
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Payments (in thousands) Remainder of 2022 $ 464 2023 396 2024 396 2025 374 2026 362 Thereafter 3,299 Total undiscounted lease payments 5,291 Less: present value discount (1,882 ) Total lease liability balance $ 3,409

Note 8 - Accrued Expenses (Tabl

Note 8 - Accrued Expenses (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	December 31, 2021 March 31, 2021 (in thousands) Wages, commissions, bonus and profit sharing $ 521 $ 211 Vacation 399 408 Rent, interest and legal 184 86 Other accrued expenses 187 139 Total accrued expenses $ 1,291 $ 844

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Share-based Compensation Shares Authorized Available and Outstanding by Plan [Table Text Block]	As of December 31, 2021 Authorized Available Outstanding 2016 Plan 1,300,000 993,121 214,174 2014 Directors Plan 650,000 287,695 12,000 2005 Plan — — 51,500 2004 Directors Plan — — 6,000 Total 1,950,000 1,280,816 283,674
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Option Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Outstanding at March 31, 2021 374,300 $ 3.64 3.0 $ 129,700 Granted 50,000 $ 2.96 Forfeited (3,000 ) $ 4.95 Expired (166,800 ) $ 3.84 Outstanding at December 31, 2021 254,500 $ 3.36 6.7 $ 135,600 Exercisable at December 31, 2021 112,833 $ 4.37 4.1 $ 39,183
Schedule of Nonvested Share Activity [Table Text Block]	Nonvested Options Shares Weighted Average Grant-Date Fair Value Nonvested at March 31, 2021 125,000 $ 1.19 Granted 50,000 1.60 Vested (33,333 ) 1.20 Nonvested at December 31, 2021 141,667 $ 1.33
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Nonvested Restricted Stock Units Shares Weighted Average Grant Price Nonvested restricted stock units at March 31, 2021 28,188 $ 2.38 Granted 38,672 2.91 Vested (34,751 ) 2.84 Forfeited (2,935 ) 2.61 Nonvested restricted stock units at December 31, 2021 29,174 $ 2.52

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	9 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended December 31, 2021 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 386 6,183 $ 0.06 Effective dilutive securities – common stock options and restricted stock units — 188 — Diluted income per share $ 386 6,371 $ 0.06 Three Months Ended December 31, 2020 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 827 6,097 $ 0.14 Effective dilutive securities – common stock options and restricted stock units — 125 — Diluted income per share $ 827 6,222 $ 0.13 Nine Months Ended December 31, 2021 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 1,877 6,144 $ 0.31 Effective dilutive securities – common stock options and restricted stock units — 75 — Diluted income per share $ 1,877 6,219 $ 0.30 Nine Months Ended December 31, 2020 Net Income Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic income per share $ 1,121 6,060 $ 0.18 Effective dilutive securities – common stock options and restricted stock units — 109 — Diluted income per share $ 1,121 6,169 $ 0.18

Note 1 - Organization and Bas_2

Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($)	1 Months Ended	9 Months Ended
	May 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021	Apr. 30, 2019	Aug. 30, 2016
Cash and Cash Equivalents, at Carrying Value, Ending Balance		$ 2,298,000		$ 3,767,000
Working Capital (Deficit)		11,186,000		9,298,000
Line of Credit, Current		0		1,000,000
Long-term Debt and Capital Lease Obligations, Current and Noncurrent		4,111,000
Proceeds from Issuance of Unsecured Debt		0	$ 1,381,000
SBA CARES Act Paycheck Protection Program [Member]
Proceeds from Issuance of Unsecured Debt	$ 1,381,000
Unsecured Subordinated Loan From Skywords [Member]
Debt Instrument, Face Amount					$ 1,500,000
First Foundation Bank [Member]
Line of Credit, Current		0		1,000,000
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		$ 0		$ 1,000,000

Note 2 - Significant Accounti_3

Note 2 - Significant Accounting Policies (Details Textual)	3 Months Ended		6 Months Ended	9 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2021
Contract with Customer, Liability, Revenue Recognized	$ 6,000	$ 0		$ 55,000	$ 251,000
Customer Concentration Risk [Member] | Revenue Benchmark [Member]
Number of Major Customers	2	2	2	2
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 1 [Member]
Concentration Risk, Percentage	22.00%	18.00%		21.00%	17.00%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 2 [Member]
Concentration Risk, Percentage	21.00%	19.00%		18.00%	67.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers						3
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member]
Concentration Risk, Percentage						57.00%

Note 2 - Significant Accounti_4

Note 2 - Significant Accounting Policies - Revenue By Product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Net sales	$ 9,459	$ 6,985	$ 27,842	$ 22,907
Packaged Astaxanthin [Member]
Net sales	3,563	3,388	11,618	10,767
Packaged Spirulina [Member]
Net sales	1,612	1,659	6,150	5,626
Packaged Products [Member]
Net sales	5,175	5,047	17,768	16,393
Bulk Astaxanthin [Member]
Net sales	1,128	291	2,041	1,173
Bulk Spirulina [Member]
Net sales	2,990	1,413	7,558	4,628
Bulk Products [Member]
Net sales	4,118	1,704	9,599	5,801
Contract Extraction [Member]
Net sales	$ 166	$ 234	$ 475	$ 713

Note 3 - Inventories (Details T

Note 3 - Inventories (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Inventory Abnormal Production Costs	$ 0	$ 0	$ 0	$ 0
Non Inventoriable Fixed Costs	$ 76,000	$ 79,000	$ 113,000	$ 124,000

Note 3 - Inventories - Componen

Note 3 - Inventories - Components of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Raw materials	$ 1,399	$ 547
Work in process	3,273	3,206
Finished goods	3,743	4,423
Supplies	309	239
Inventories	$ 8,724	$ 8,415

Note 4 - Equipment and Leaseh_3

Note 4 - Equipment and Leasehold Improvements (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Asset Impairment Charges, Total			$ 0		$ 0
Depreciation, Depletion and Amortization, Total	$ 404,000	$ 423,000	$ 1,202,000	$ 1,340,000

Note 4 - Equipment and Leaseh_4

Note 4 - Equipment and Leasehold Improvements - Components of Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Equipment and leasehold improvements, gross	$ 35,255	$ 34,131
Less accumulated depreciation and amortization	(23,942)	(22,740)
Construction-in-progress	623	745
Equipment and leasehold improvements, net	11,936	12,136
Equipment [Member]
Equipment and leasehold improvements, gross	20,128	19,056
Leasehold Improvements [Member]
Equipment and leasehold improvements, gross	14,751	14,703
Furniture and Fixtures [Member]
Equipment and leasehold improvements, gross	$ 376	$ 372

Note 5 - Short-term Contract _2

Note 5 - Short-term Contract Obligation (Details Textual)	Nov. 30, 2018USD ($)a	Dec. 31, 2021USD ($)	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)
Short-term Obligation for Cellana Asset Purchase [Member]
Debt Instrument, Face Amount	$ 180,000
Debt Instrument, Interest Rate, Stated Percentage	6.25%
Debt Instrument, Periodic Payment, Number of Monthly Payments	4
Short-term Non-bank Loans and Notes Payable		$ 0	$ 0
Short-term Obligation for Cellana Asset Purchase 2 [Member]
Debt Instrument, Face Amount	$ 215,000
Debt Instrument, Periodic Payment, Number of Monthly Payments	12
Debt Instrument, Hold-back, Amount				$ 38,000
Cellana Asset Purchase [Member]
Noncash or Part Noncash Acquisition, Value of Assets Acquired, Total	$ 495,000
Payments to Acquire Buildings	100,000
Issuance of Short Term Obligations	$ 395,000
Research Facility Owned by Cellana [Member]
Area of Real Estate Property (Acre) | a	6

Note 6 - Line of Credit and L_3

Note 6 - Line of Credit and Long-term Debt (Details Textual) - USD ($)	Apr. 12, 2021	Aug. 30, 2016	Sep. 18, 2015	Jul. 30, 2015	Aug. 14, 2012	Apr. 30, 2021	May 31, 2020	Apr. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2021	Mar. 31, 2021	Oct. 06, 2017
Line of Credit, Current									$ 0		$ 0	$ 0			$ 1,000,000
Repayments of Notes Payable			$ 500,000
Long-term Debt and Capital Lease Obligations, Current and Noncurrent									4,111,000		4,111,000	4,111,000
Debt Issuance Costs, Net, Total									119,000		119,000	119,000			140,000
Proceeds from Issuance of Unsecured Debt												0	$ 1,381,000
Gain (Loss) on Extinguishment of Debt, Total									0	$ 1,389,000		0	1,389,000
Long-term Debt, Current Maturities, Total									626,000		626,000	626,000			2,210,000
Interest Paid, Excluding Capitalized Interest, Operating Activities												268,000	$ 344,000
Long-term Debt, Excluding Current Maturities, Total									4,400,000		4,400,000	4,400,000			4,823,000
Long-term Debt, Total									5,145,000		5,145,000	5,145,000
Unsecured Subordinated Loan [Member]
Long-term Debt, Gross									$ 1,000,000		$ 1,000,000	$ 1,000,000			1,500,000
The 2015 Loan Agreement [Member]
Debt Instrument Reference Rate									3.25%		3.25%	3.25%
Proceeds from Issuance of Debt				$ 2,500,000
Debt Instrument, Term (Year)				7 years
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									$ 324,000		$ 324,000	$ 324,000			635,000
Debt Instrument One Time Origination and Guaranty Fees											$ 113,900
Debt Instrument Annual Renewal Fee Payable Percentage									0.50%		0.50%	0.50%
Debt Instrument Guaranteed Portion									80.00%		80.00%	80.00%
Term Loan Agreement, Maturing on August 14, 2032 [Member]
Debt Instrument Reference Rate									3.25%		3.25%	3.25%
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									$ 3,787,000		$ 3,787,000	$ 3,787,000			3,978,000
Debt Instrument Interest Payment Period (Month)					12 months
Debt Instrument Amortization Period (Year)					19 years
Debt Instrument One Time Origination and Guaranty Fees											$ 214,500
Debt Instrument Annual Renewal Fee Payable Percentage									0.25%		0.25%	0.25%
Debt Instrument Guaranteed Portion									80.00%		80.00%	80.00%
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
SBA CARES Act Paycheck Protection Program [Member]
Proceeds from Issuance of Unsecured Debt							$ 1,381,000
Debt Instrument, Decrease, Principal Forgiveness										1,381,000
Debt Instrument, Decrease, Accrued Interest Forgiveness										8,000
Gain (Loss) on Extinguishment of Debt, Total										$ 1,389,000
Skywords Note [Member]
Repayments of Long-term Debt, Total	$ 500,000					$ 500,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	$ 1,900					1,900
Skywords Note [Member] | Unsecured Subordinated Loan [Member]
Debt Instrument, Face Amount								$ 1,500,000
Long-term Debt, Current Maturities, Total						$ 500,000									500,000
Long-term Debt, Gross									$ 1,000,000		$ 1,000,000	$ 1,000,000			1,500,000
Long-term Debt, Excluding Current Maturities, Total															1,000,000
Long-term Debt, Total									1,000,000		1,000,000	1,000,000			1,500,000
Skywords Amended Note [Member]
Debt Instrument, Term (Year)	3 years
Debt Instrument, Face Amount	$ 500,000
Debt Instrument, Floor Interest Rate	5.00%					5.00%
Equipment Finance Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage																4.75%
Debt Agreement, Maximum Borrowing Capacity																$ 175,000
Long-term Debt, Total									34,000		$ 34,000	34,000			60,000
Minimum [Member] | The 2015 Loan Agreement [Member]
Debt Instrument, Interest Rate, Stated Percentage				6.00%
Minimum [Member] | Term Loan Agreement, Maturing on August 14, 2032 [Member]
Debt Instrument, Interest Rate During Period											5.50%
Prime Rate [Member] | The 2015 Loan Agreement [Member]
Debt Instrument, Basis Spread on Variable Rate				2.00%
Prime Rate [Member] | Skywords Note [Member] | Unsecured Subordinated Loan [Member]
Debt Instrument, Basis Spread on Variable Rate								1.00%
Prime Rate [Member] | Skywords Amended Note [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
First Foundation Bank [Member]
Line of Credit, Current									0		$ 0	0			1,000,000
First Foundation Bank [Member] | Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage		5.25%
First Foundation Bank [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 2,000,000							2,000,000		2,000,000	2,000,000
Line of Credit, Current									$ 0		$ 0	$ 0			$ 1,000,000
First Foundation Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member]
Debt Instrument Reference Rate														3.25%
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 ($)	Dec. 31, 2021	Mar. 31, 2021
Less current maturities	$ (626,000)	$ (2,210,000)
Long-term debt, excluding current maturities	4,519,000	4,963,000
Less unamortized debt issuance costs	(119,000)	(140,000)
Total long-term debt, net of current maturities and unamortized debt issuance costs	4,400,000	4,823,000
Line of Credit [Member]
Long-term debt	0	1,000,000
Long-term Debt, Excluding Related Party Debt [Member]
Long-term debt	4,145,000	4,673,000
Unsecured Subordinated Loan [Member]
Long-term debt	$ 1,000,000	$ 1,500,000

Note 6 - Line of Credit and L_5

Note 6 - Line of Credit and Long-term Debt - Future Payments (Details) $ in Thousands	Dec. 31, 2021USD ($)
Remainder of 2022	$ 243
2023	477
2024	1,289
2025	306
2026	322
Thereafter	2,508
Total principal payments	$ 5,145

Note 7 - Operating Leases (Deta

Note 7 - Operating Leases (Details Textual) - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Lease, Weighted Average Remaining Lease Term (Year)	13 years
Operating Lease, Weighted Average Discount Rate, Percent	7.40%
Operating Lease, Expense	$ 445,000	$ 445,000

Note 7 - Operating Leases - Sup

Note 7 - Operating Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Right-of-use assets	$ 4,255	$ 4,128
Accumulated lease amortization	(843)	(611)
Total right-of-use assets	3,412	3,517
Current lease liabilities	382	343
Non-current lease liabilities	3,027	3,175
Total lease liabilities	$ 3,409	$ 3,518

Note 7 - Operating Leases - Ope

Note 7 - Operating Leases - Operating Leases Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Remainder of 2022	$ 464
2023	396
2024	396
2025	374
2026	362
Thereafter	3,299
Total undiscounted lease payments	5,291
Less: present value discount	(1,882)
Total lease liability balance	$ 3,409	$ 3,518

Note 8 - Accrued Expenses - Com

Note 8 - Accrued Expenses - Components of Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Wages, commissions, bonus and profit sharing	$ 521	$ 211
Vacation	399	408
Rent, interest and legal	184	86
Other accrued expenses	187	139
Total accrued expenses	$ 1,291	$ 844

Note 10 - Share-based Compens_3

Note 10 - Share-based Compensation (Details Textual)	3 Months Ended		9 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)shares	Mar. 31, 2021$ / shares
Number of Shareholder Approved Share-based Compensation Plans	2		2
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	1,280,816		1,280,816
Share Price (in dollars per share) | $ / shares	$ 3.24		$ 3.24		$ 3.30
ShareBased Compensation Arrangement By Share Based Payment Award Weighted Average Grant Date Fair Value Options Granted | $			$ 79,000
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Expense | $	$ 17,000	$ 10,000	47,000	$ 19,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $	155,000		$ 155,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 4 months 24 days
Share-based Payment Arrangement, Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Restricted Stock [Member] | Share-based Payment Arrangement, Nonemployee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			55,438	66,385
Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $	$ 35,000		$ 35,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			1 year 1 month 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			38,672
The 2005 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	0		0
The 2004 Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	0		0
2014 Directors Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	287,695		287,695
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)			300,000
2014 Directors Plan [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Nonemployee [Member]
Share-based Payment Arrangement, Expense | $	$ 158,000	0	$ 158,000	$ 158,000
The 2016 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)	993,121		993,121
The 2016 Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Payment Arrangement, Expense | $	$ 23,000	$ 8,000	$ 113,000	$ 20,000

Note 10 - Share-based Compens_4

Note 10 - Share-based Compensation - Shares Authorized, Available for Future Grant and Outstanding Under Each Plan (Details)	Dec. 31, 2021shares
Authorized (in shares)	1,950,000
Available (in shares)	1,280,816
Outstanding (in shares)	283,674
The 2016 Plan [Member]
Authorized (in shares)	1,300,000
Available (in shares)	993,121
Outstanding (in shares)	214,174
2014 Directors Plan [Member]
Authorized (in shares)	650,000
Available (in shares)	287,695
Outstanding (in shares)	12,000
The 2005 Plan [Member]
Authorized (in shares)	0
Available (in shares)	0
Outstanding (in shares)	51,500
The 2004 Directors Plan [Member]
Authorized (in shares)	0
Available (in shares)	0
Outstanding (in shares)	6,000

Note 10 - Share-based Compens_5

Note 10 - Share-based Compensation - Summary of Option Activity Under Stock Plans (Details) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Outstanding (in shares)	374,300
Outstanding, weighted average exercise price (in dollars per share)	$ 3.64
Outstanding, weighted average remaining contractual term (Year)	6 years 8 months 12 days	3 years
Outstanding, aggregate intrinsic value	$ 135,600	$ 129,700
Granted (in shares)	50,000
Granted, weighted average exercise price (in dollars per share)	$ 2.96
Forfeited (in shares)	(3,000)
Forfeited, weighted average exercise price (in dollars per share)	$ 4.95
Expired (in shares)	(166,800)
Expired, weighted average exercise price (in dollars per share)	$ 3.84
Outstanding (in shares)	254,500	374,300
Outstanding, weighted average exercise price (in dollars per share)	$ 3.36	$ 3.64
Exercisable (in shares)	112,833
Exercisable, weighted average exercise price (in dollars per share)	$ 4.37
Exercisable, weighted average remaining contractual term (Year)	4 years 1 month 6 days
Exercisable, aggregate intrinsic value	$ 39,183

Note 10 - Share-based Compens_6

Note 10 - Share-based Compensation - Summary of Non-vested Options (Details)	9 Months Ended
	Dec. 31, 2021$ / sharesshares
Nonvested (in shares) | shares	125,000
Nonvested (in dollars per share) | $ / shares	$ 1.19
Granted (in shares) | shares	50,000
Granted (in dollars per share) | $ / shares	$ 1.60
Vested (in shares) | shares	(33,333)
Vested (in dollars per share) | $ / shares	$ 1.20
Nonvested (in shares) | shares	141,667
Nonvested (in dollars per share) | $ / shares	$ 1.33

Note 10 - Share-based Compens_7

Note 10 - Share-based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	9 Months Ended
	Dec. 31, 2021$ / sharesshares
Nonvested restricted stock units (in shares) | shares	28,188
Nonvested restricted stock units, weighted average grant price (in dollars per share) | $ / shares	$ 2.38
Granted (in shares) | shares	38,672
Granted, weighted average grant price (in dollars per share) | $ / shares	$ 2.91
Vested (in shares) | shares	(34,751)
Vested, weighted average grant price (in dollars per share) | $ / shares	$ 2.84
Forfeited (in shares) | shares	(2,935)
Forfeited, weighted average grant price (in dollars per share) | $ / shares	$ 2.61
Nonvested restricted stock units (in shares) | shares	29,174
Nonvested restricted stock units, weighted average grant price (in dollars per share) | $ / shares	$ 2.52

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	Jan. 01, 2018	Dec. 22, 2017	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2019	Dec. 30, 2020
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	34.00%	21.00%	21.00%	21.00%	21.00%	21.00%
Income Tax Expense (Benefit), Total			$ 6,000	$ (2,000)	$ 21,000	$ 3,000
Effective Income Tax Rate Reconciliation, Percent, Total			1.50%	0.20%	1.10%	0.30%
Unrecognized Tax Benefits, Ending Balance			$ 0		$ 0			$ 0

Note 12 - Earnings Per Share -

Note 12 - 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		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Net income	$ 386	$ 827	$ 1,877	$ 1,121
Shares outstanding - basic (in shares)	6,183	6,097	6,144	6,060
Earnings per share - basic (in dollars per share)	$ 0.06	$ 0.14	$ 0.31	$ 0.18
Effective dilutive securities – common stock options and restricted stock units (in shares)	188	125	75	109
Net income - diluted	$ 386	$ 827	$ 1,877	$ 1,121
Shares outstanding - diluted (in shares)	6,371	6,222	6,219	6,169
Diluted income per share (in dollars per share)	$ 0.06	$ 0.13	$ 0.30	$ 0.18

Note 13 - Related Party Trans_2

Note 13 - Related Party Transactions (Details Textual) - USD ($)	Apr. 12, 2021	Apr. 30, 2021	Apr. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Interest Paid, Excluding Capitalized Interest, Operating Activities				$ 268,000	$ 344,000
Long-term Debt, Total				5,145,000
Long-term Debt, Current Maturities, Total				626,000		$ 2,210,000
Long-term Debt, Excluding Current Maturities, Total				4,400,000		4,823,000
Conversion of Skywords Note Into Revolving Loans [Member]
Debt Conversion, Original Debt, Amount	$ 500,000
Skywords Note [Member]
Repayments of Long-term Debt, Total	500,000	$ 500,000
Interest Paid, Excluding Capitalized Interest, Operating Activities	1,900	1,900
Skywords Note [Member] | Unsecured Subordinated Loan [Member]
Debt Instrument, Face Amount			$ 1,500,000
Long-term Debt, Total				$ 1,000,000		1,500,000
Long-term Debt, Current Maturities, Total		$ 500,000				500,000
Long-term Debt, Excluding Current Maturities, Total						$ 1,000,000
Skywords Note [Member] | Unsecured Subordinated Loan [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Skywords Amended Note [Member]
Debt Instrument, Face Amount	$ 500,000
Debt Instrument, Term (Year)	3 years
Debt Instrument, Floor Interest Rate	5.00%	5.00%
Skywords Amended Note [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%