Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2016 | Feb. 21, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | ADM TRONICS UNLIMITED, INC. | |
Entity Central Index Key | 849,401 | |
Trading Symbol | admt | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 67,298,502 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 1,873,802 | $ 1,398,848 |
Accounts receivable, net of allowance for doubtful accounts of $25,000 for each period | 589,587 | 588,875 |
Inventories | 470,247 | 216,108 |
Prepaid expenses and other current assets | 169,298 | 18,419 |
Restricted cash | 233,274 | 233,050 |
Deferred tax asset | 250,000 | 410,000 |
Total current assets | 3,586,208 | 2,865,300 |
Property and equipment, net of accumulated depreciation of $24,199 and $77,690, at December 31, 2016 and March 31, 2016, respectively | 155,891 | 26,859 |
Inventories - long-term portion | 35,644 | 52,657 |
Intangible assets, net of accumulated amortization of $8,895 and $155,062, at December 31, 2016 and March 31, 2016, respectively | 12,039 | 13,086 |
Other assets | 17,644 | 17,644 |
Deferred tax asset | 607,000 | 447,000 |
Total other assets | 828,218 | 557,246 |
Total assets | 4,414,426 | 3,422,546 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Note payable - bank | 78,966 | 96,966 |
Capital lease payable | 34,806 | |
Accounts payable | 392,578 | 276,171 |
Accrued expenses and other current liabilities | 116,706 | 331,231 |
Customer deposits | 108,342 | 108,342 |
Due to shareholder | 274,723 | 246,696 |
Total current liabilities | 1,006,121 | 1,059,406 |
Capital lease payable, net of current portion | 91,262 | |
Total liabilities | 1,097,383 | 1,059,406 |
Stockholders' equity: | ||
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding | ||
Common stock, $0.0005 par value; 150,000,000 authorized, 67,298,502 and 67,008,502 shares issued and outstanding at December 31, 2016 and March 31, 2016, respectively | 33,649 | 33,504 |
Additional paid-in capital | 33,242,014 | 33,195,759 |
Accumulated deficit | (29,958,620) | (30,866,123) |
Total stockholders' equity | 3,317,043 | 2,363,140 |
Total liabilities and stockholders' equity | $ 4,414,426 | $ 3,422,546 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Allowance for doubtful accounts | $ 25,000 | $ 25,000 |
Property and equipment, accumulated depreciation | 24,199 | 77,690 |
Intangible assets, accumulated amortization | $ 8,895 | $ 155,062 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 67,298,502 | 67,008,502 |
Common stock, shares outstanding (in shares) | 67,298,502 | 67,008,502 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net revenues | $ 1,156,512 | $ 1,045,388 | $ 3,914,281 | $ 3,354,197 |
Cost of sales | 599,607 | 375,745 | 1,695,765 | 1,172,298 |
Gross Profit | 556,905 | 669,643 | 2,218,516 | 2,181,899 |
Operating expenses: | ||||
Research and development | 113,752 | 46,292 | 151,548 | 101,503 |
Selling, general and administrative | 433,712 | 385,226 | 1,105,081 | 1,155,637 |
Stock based compensation | 46,400 | 46,400 | 598,699 | |
Depreciation and amortization | 2,951 | 555 | 5,890 | 1,861 |
Total operating expenses | 596,815 | 432,073 | 1,308,919 | 1,857,700 |
Income (loss) from operations | (39,910) | 237,570 | 909,597 | 324,199 |
Other income (expense): | ||||
Interest income | 835 | 88 | 2,295 | 657 |
Interest expense | (3,546) | (583) | (4,389) | (2,054) |
Total other income (expense) | (2,711) | (495) | (2,094) | (1,397) |
Income (loss) before benefit for income taxes - deferred | (42,621) | 237,075 | 907,503 | 322,802 |
Benefit for income taxes - deferred | 857,000 | |||
Net income | $ (42,621) | $ 237,075 | $ 907,503 | $ 1,179,802 |
Basic and diluted earnings per common share: (in dollars per share) | $ 0 | $ 0 | $ 0.01 | $ 0.02 |
Weighted average shares of common stock outstanding - basic (in shares) | 67,216,545 | 67,008,502 | 67,078,102 | 66,045,493 |
Weighted average shares of common stock outstanding - diluted (in shares) | 67,216,545 | 67,537,914 | 67,078,102 | 66,574,905 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | ||
Net income | $ 907,503 | $ 1,179,802 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Stock-based compensation | 46,400 | 598,699 |
Depreciation and amortization | 8,892 | 2,399 |
Deferred income tax | (857,000) | |
Increase (decrease) in cash flows as a result of changes in net assets and liabilities balances: | ||
Accounts receivable | (712) | 43,916 |
Inventories | (237,126) | (138,300) |
Prepaid expenses and other current assets | (150,879) | (22,866) |
Accounts payable | 116,407 | (28,362) |
Customer deposits | 9,240 | |
Accrued expenses and other current liabilities | (214,525) | 63,314 |
Due to shareholder | 28,027 | 13,004 |
Net cash provided by operating activities | 503,987 | 863,846 |
Cash flows from investing activities: | ||
Purchase of equipment | (8,070) | |
Restricted cash | (224) | (437) |
Net cash used in investing activities | (8,294) | (437) |
Cash flows from financing activities: | ||
Repayments on notes payable | (18,000) | (19,000) |
Repayments on capital lease payable | (2,739) | |
Sale of common stock | 300,000 | |
Net cash provided by (used) in financing activities | (20,739) | 281,000 |
Net increase in cash | 474,954 | 1,144,409 |
Cash and cash equivalents - beginning of period | 1,398,848 | 216,395 |
Cash and cash equivalents - end of period | 1,873,802 | 1,360,804 |
Cash paid for: | ||
Interest | 4,389 | 2,054 |
Non-cash investing activities: | ||
Purchase of equipment with the assumption of capital lease obligations | $ 128,807 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 ADM Tronics Unlimited, Inc. ("we", "us", the “Company" or "ADM"), was incorporated under the laws of the state of Delaware on November 24, 1969. The accompanying unaudited condensed consolidated financial statements as of December 31, 2016 March 31, 2016 three nine December 31, 2016 2015 10 March 31, 2016 10 three nine December 31, 2016 March 31, 2017. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 PRINCIPLES OF CONSOLIDATION The condensed consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation. USE OF ESTIMATES These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our medical devices, reserves, deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others, option and warrant expenses related to compensation to employees and directors, consultants and investment banks, allowance for doubtful accounts, and warranty reserves. Actual results could differ from those estimates. REVENUE RECOGNITION CHEMICAL PRODUCTS: Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no right of return exists. ELECTRONICS: We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 5 $2,000, three nine December 31, 2016 2015. ENGINEERING SERVICES: We provide certain engineering services, including research, development, quality control, and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided. EARNINGS PER SHARE Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share is computed similar to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Per share basic and diluted earnings amounted to $0.00 $0.01 $0.00 $0.02 three nine December 31, 2016 2015, 3,000,000 3,600,000 December 31, 2016 2015, RECLASSIFICATION Certain items in the prior financial statements have been reclassified to conform to the current period presentation. RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying condensed consolidated financial statements. |
Note 3 - Inventories
Note 3 - Inventories | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3 Inventories at December 31, 2016 Current Long Term Total Raw materials $ 446,623 $ 35,063 $ 481,686 Finished goods 23,624 581 24,205 $ 470,247 $ 35,644 $ 505,891 Inventories at March 31, 2016 Current Long Term Total Raw materials $ 187,333 $ 51,939 $ 239,272 Finished goods 28,775 718 29,493 $ 216,108 $ 52,657 $ 268,765 The Company values its inventories at the first first |
Note 4 - Concentrations
Note 4 - Concentrations | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 4 During the three December 31, 2016, one 71% During the three December 31, 2015, one 42% During the nine December 31, 2016, one 61% December 31, 2016, one 32% During the nine December 31, 2015, one 42% March 31, 2016, one 43% The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $48,750 4.2% three December 31, 2016 $103,783 10.2% three December 31, 2015. Revenues from foreign customers represented $602,405 15.4% nine December 31, 2016 $302,780 9% nine December 31, 2015. As of December 31, 2016, March 31, 2016, $2,158 $3,580, |
Note 5 - Segment Information
Note 5 - Segment Information | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 5 Information about segments is as follows: Chemical Products Electronics Engineering Service Total Three months ended December 31, 2016 Revenue from external customers $ 288,083 $ 410,784 $ 457,645 $ 1,156,512 Segment operating income (loss) $ 27,225 $ (9,545 ) $ (57,590 ) $ (39,910 ) Nine months ended December 31, 2016 Revenue from external customers $ 942,931 $ 1,347,857 $ 1,623,493 $ 3,914,281 Segment operating income $ 128,440 $ 369,414 $ 411,743 $ 909,597 Three months ended December 31, 2015 Revenue from external customers $ 372,652 $ 208,040 $ 464,696 $ 1,045,388 Segment operating income (loss) $ 113,469 $ (12,891 ) $ 136,992 $ 237,570 Nine months ended December 31, 2015 Revenue from external customers $ 1,123,668 $ 585,643 $ 1,644,886 $ 3,354,197 Segment operating income (loss) $ 172,602 $ (59,445 ) $ 211,042 $ 324,199 Total assets at December 31, 2016 $ 1,059,462 $ 1,191,895 $ 2,163,069 $ 4,414,426 Total assets at March 31, 2016 $ 1,070,944 $ 644,189 $ 1,707,413 $ 3,422,546 |
Note 6 - Equity
Note 6 - Equity | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 6 During the three December 31, 2016, 290,000 $46,400. |
Note 7 - Options Outstanding
Note 7 - Options Outstanding | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 7 On September 2, 2015, 3,000,000 $0.20 three $598,699 2.03%, 353%, 3 0%. The following table summarizes information on all common share purchase options issued by us for the periods ended December 31, 2016 March 31, 2016. December 31, 2016 March 31, 2016 # of Shares Weighted Average Exercise Price # of Shares Weighted Average Exercise Price Outstanding, beginning of period/year 3,000,000 $ 0.20 600,000 $ 0.02 Issued - $ - 3,000,000 $ 0.20 Exercised - $ - - $ - Expired - $ - (600,00 ) $ (.01 ) Outstanding, end of period/year 3,000,000 $ 0.20 3,000,000 $ 0.20 Exercisable, end of period/year 3,000,000 $ 0.20 3,000,000 $ 0.20 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 8 We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2019. December 31, 2016 For the twelve-month period ended December 31, Amount 2017 $ 104,625 2018 52,313 $ 156,938 Rent and real estate tax expense for all facilities for the nine December 31, 2016 2015 $67,000 $63,000, On August 21, 2008, $200,000. 2% December 31, 2016 2015 2.15% December 31, 2016, $78,966. On December 2, 2016, $85,680, $6,930 forty eight (48) forty eight $1,773. December 31, 2016, $77,998. On December 2, 2016, $54,710, $4,710 forty eight (48) forty eight $1,128. December 31, 2016, $48,070. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9 At December 31, 2016, $2,616,000, 2034. may may Due to the uncertainty related to future taxable income, the Company provides a partial valuation allowance for the deferred tax asset resulting from the NOL's and depreciation and amortization. During the nine December 31, 2016, $908,000 $1,200,000 nine December 31, 2016, $363,000 |
Note 10 - Due to Shareholder
Note 10 - Due to Shareholder | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Compensation Related Costs, General [Text Block] | NOTE 10 The Company’s President has been deferring his salary and bonuses periodically to assist the Company’s cash flow. There are no |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 9 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 11 We evaluated all subsequent events from the date of the condensed consolidated balance sheet through the issuance date and determined that there are no events or transactions occurring during the subsequent event reporting period which require recognition or disclosure in the condensed consolidated financial statements. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The condensed consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our medical devices, reserves, deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others, option and warrant expenses related to compensation to employees and directors, consultants and investment banks, allowance for doubtful accounts, and warranty reserves. Actual results could differ from those estimates. |
Revenue Recognition, Policy [Policy Text Block] | REVENUE RECOGNITION CHEMICAL PRODUCTS: Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when no right of return exists. ELECTRONICS: We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 5 $2,000, three nine December 31, 2016 2015. ENGINEERING SERVICES: We provide certain engineering services, including research, development, quality control, and quality assurance services along with regulatory compliance services. We recognize revenue from engineering services as the services are provided. |
Earnings Per Share, Policy [Policy Text Block] | EARNINGS PER SHARE Basic earnings per share is calculated based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share is computed similar to basic earnings per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. Per share basic and diluted earnings amounted to $0.00 $0.01 $0.00 $0.02 three nine December 31, 2016 2015, 3,000,000 3,600,000 December 31, 2016 2015, |
Reclassification, Policy [Policy Text Block] | RECLASSIFICATION Certain items in the prior financial statements have been reclassified to conform to the current period presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS Management does not believe that any recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying condensed consolidated financial statements. |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule Of Inventory [Table Text Block] | Current Long Term Total Raw materials $ 446,623 $ 35,063 $ 481,686 Finished goods 23,624 581 24,205 $ 470,247 $ 35,644 $ 505,891 Current Long Term Total Raw materials $ 187,333 $ 51,939 $ 239,272 Finished goods 28,775 718 29,493 $ 216,108 $ 52,657 $ 268,765 |
Note 5 - Segment Information (T
Note 5 - Segment Information (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Chemical Products Electronics Engineering Service Total Three months ended December 31, 2016 Revenue from external customers $ 288,083 $ 410,784 $ 457,645 $ 1,156,512 Segment operating income (loss) $ 27,225 $ (9,545 ) $ (57,590 ) $ (39,910 ) Nine months ended December 31, 2016 Revenue from external customers $ 942,931 $ 1,347,857 $ 1,623,493 $ 3,914,281 Segment operating income $ 128,440 $ 369,414 $ 411,743 $ 909,597 Three months ended December 31, 2015 Revenue from external customers $ 372,652 $ 208,040 $ 464,696 $ 1,045,388 Segment operating income (loss) $ 113,469 $ (12,891 ) $ 136,992 $ 237,570 Nine months ended December 31, 2015 Revenue from external customers $ 1,123,668 $ 585,643 $ 1,644,886 $ 3,354,197 Segment operating income (loss) $ 172,602 $ (59,445 ) $ 211,042 $ 324,199 Total assets at December 31, 2016 $ 1,059,462 $ 1,191,895 $ 2,163,069 $ 4,414,426 Total assets at March 31, 2016 $ 1,070,944 $ 644,189 $ 1,707,413 $ 3,422,546 |
Note 7 - Options Outstanding (T
Note 7 - Options Outstanding (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | December 31, 2016 March 31, 2016 # of Shares Weighted Average Exercise Price # of Shares Weighted Average Exercise Price Outstanding, beginning of period/year 3,000,000 $ 0.20 600,000 $ 0.02 Issued - $ - 3,000,000 $ 0.20 Exercised - $ - - $ - Expired - $ - (600,00 ) $ (.01 ) Outstanding, end of period/year 3,000,000 $ 0.20 3,000,000 $ 0.20 Exercisable, end of period/year 3,000,000 $ 0.20 3,000,000 $ 0.20 |
Note 8 - Commitments and Cont21
Note 8 - Commitments and Contingencies (Tables) | 9 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | For the twelve-month period ended December 31, Amount 2017 $ 104,625 2018 52,313 $ 156,938 |
Note 2 - Significant Accounti22
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Earnings Per Share, Basic and Diluted | $ 0 | $ 0 | $ 0.01 | $ 0.02 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,000,000 | 3,600,000 | ||
Maximum [Member] | ||||
Product Warranty Expense | $ 2,000 | $ 2,000 | $ 2,000 | $ 2,000 |
Electronic Products [Member] | ||||
Warranty Term | 90 days | |||
Electronic Controllers for Spas and Hot Tubs [Member] | ||||
Warranty Term | 5 years |
Note 3 - Inventories - Summary
Note 3 - Inventories - Summary of Inventory (Details) - USD ($) | Dec. 31, 2016 | Mar. 31, 2016 |
Raw materials | $ 481,686 | $ 239,272 |
Finished Goods | 24,205 | 29,493 |
Total | 505,891 | 268,765 |
Current [Member] | ||
Raw materials | 446,623 | 187,333 |
Finished Goods | 23,624 | 28,775 |
Total | 470,247 | 216,108 |
Long Term [Member | ||
Raw materials | 35,063 | 51,939 |
Finished Goods | 581 | 718 |
Total | $ 35,644 | $ 52,657 |
Note 4 - Concentrations (Detail
Note 4 - Concentrations (Details Textual) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2016USD ($) | |
Revenues | $ 1,156,512 | $ 1,045,388 | $ 3,914,281 | $ 3,354,197 | |
Accounts Receivable, Net, Current | 589,587 | 589,587 | $ 588,875 | ||
Foreign Customers [Member] | |||||
Accounts Receivable, Net, Current | $ 2,158 | $ 3,580 | $ 2,158 | $ 3,580 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||||
Concentration Risk, Number of Customers | 1 | 1 | 1 | 1 | |
Concentration Risk, Percentage | 71.00% | 42.00% | 61.00% | 42.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Customers [Member] | |||||
Concentration Risk, Percentage | 4.20% | 10.20% | 15.40% | 9.00% | |
Revenues | $ 48,750 | $ 103,783 | $ 602,405 | $ 302,780 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Concentration Risk, Number of Customers | 1 | 1 | |||
Concentration Risk, Percentage | 32.00% | 43.00% |
Note 5 - Segment Information -
Note 5 - Segment Information - Summary of Segment Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | |
Revenue from external customers | $ 1,156,512 | $ 1,045,388 | $ 3,914,281 | $ 3,354,197 | |
Segment operating income (loss) | (39,910) | 237,570 | 909,597 | 324,199 | |
Total assets | 4,414,426 | 4,414,426 | $ 3,422,546 | ||
Chemical [Member] | |||||
Revenue from external customers | 288,083 | 372,652 | 942,931 | 1,123,668 | |
Segment operating income (loss) | 27,225 | 113,469 | 128,440 | 172,602 | |
Total assets | 1,059,462 | 1,059,462 | 1,070,944 | ||
Electronics [Member] | |||||
Revenue from external customers | 410,784 | 208,040 | 1,347,857 | 585,643 | |
Segment operating income (loss) | (9,545) | (12,891) | 369,414 | (59,445) | |
Total assets | 1,191,895 | 1,191,895 | 644,189 | ||
Engineering [Member] | |||||
Revenue from external customers | 457,645 | 464,696 | 1,623,493 | 1,644,886 | |
Segment operating income (loss) | (57,590) | $ 136,992 | 411,743 | $ 211,042 | |
Total assets | $ 2,163,069 | $ 2,163,069 | $ 1,707,413 |
Note 6 - Equity (Details Textua
Note 6 - Equity (Details Textual) | 3 Months Ended |
Dec. 31, 2016USD ($)shares | |
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | shares | 290,000 |
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures | $ | $ 46,400 |
Note 7 - Options Outstanding (D
Note 7 - Options Outstanding (Details Textual) - USD ($) | Sep. 02, 2015 | Dec. 31, 2016 | Mar. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,000,000 | 3,000,000 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.20 | $ 0.20 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 598,699 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.03% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 353.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note 7 - Options Outstanding -
Note 7 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares | Sep. 02, 2015 | Dec. 31, 2016 | Mar. 31, 2016 |
Outstanding, beginning of period/year (in shares) | 3,000,000 | 600,000 | |
Outstanding, beginning of period/year (in dollars per share) | $ 0.20 | $ 0.02 | |
Issued (in shares) | 3,000,000 | 3,000,000 | |
Issued (in dollars per share) | $ 0.20 | $ 0.20 | |
Exercised (in shares) | |||
Exercised (in dollars per share) | |||
Expired (in shares) | (60,000) | ||
Expired (in dollars per share) | $ (0.01) | ||
Outstanding, end of period/year (in shares) | 3,000,000 | 3,000,000 | |
Outstanding, end of period/year (in dollars per share) | $ 0.20 | $ 0.20 | |
Exercisable, end of period/year (in shares) | 3,000,000 | 3,000,000 | |
Exercisable, end of period/year (in dollars per share) | $ 0.20 | $ 0.20 |
Note 8 - Commitments and Cont29
Note 8 - Commitments and Contingencies (Details Textual) | Dec. 02, 2016USD ($) | Aug. 21, 2008USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Operating Leases, Rent Expense | $ 67,000 | $ 63,000 | ||
Debt Instrument, Face Amount | $ 200,000 | |||
Capital Lease Agreement One [Member] | ||||
Capital Lease Obligations, Gross | $ 85,680 | |||
Capital Lease Obligations, Deferred Interest | $ 6,930 | |||
Debt Instrument, Term | 4 years | |||
Capital Lease Obligations, Number of Installments | 48 | |||
Debt Instrument, Periodic Payment | $ 1,773 | |||
Capital Lease Obligations | 77,998 | |||
Capital Lease Agreement Two [Member] | ||||
Capital Lease Obligations, Gross | 54,710 | |||
Capital Lease Obligations, Deferred Interest | $ 4,710 | |||
Debt Instrument, Term | 4 years | |||
Capital Lease Obligations, Number of Installments | 48 | |||
Debt Instrument, Periodic Payment | $ 1,128 | |||
Capital Lease Obligations | $ 48,070 | |||
Notes Payable to Banks [Member] | ||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||
Debt Instrument, Interest Rate During Period | 2.15% | 2.15% | ||
Long-term Debt | $ 78,966 |
Note 8 - Commitments and Cont30
Note 8 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Dec. 31, 2016USD ($) |
2,017 | $ 104,625 |
2,018 | 52,313 |
Total | $ 156,938 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) | 9 Months Ended |
Dec. 31, 2016USD ($) | |
Operating Loss Carryforwards | $ 2,616,000 |
Operating Loss Carry-Forward, Amount Utilized | 908,000 |
Operating Loss Carry-Forward, Expected Utilization Amount | 1,200,000 |
Deferred Income Taxes and Tax Credits | $ 363,000 |
Note 10 - Due to Shareholder (D
Note 10 - Due to Shareholder (Details Textual) $ in Thousands | Dec. 31, 2016USD ($) |
Deferred Compensation Liability, Interest Accrued | $ 0 |