Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Jun. 30, 2018 | Aug. 20, 2018 | |
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) | 67,588,504 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2018 | Mar. 31, 2018 |
ASSETS | ||
Cash and cash equivalents | $ 1,558,624 | $ 1,693,532 |
Accounts receivable, net of allowance for doubtful accounts of $125,000 | 1,253,142 | 1,207,493 |
Inventories | 288,783 | 201,023 |
Prepaid expenses and other current assets | 24,397 | 8,522 |
Total current assets | 3,124,946 | 3,110,570 |
Property and equipment, net of accumulated depreciation of $79,909 and $70,440, at June 30, 2018 and March 31, 2018, respectively | 123,651 | 133,120 |
Inventories - long-term portion | 111,051 | 111,051 |
Intangible assets, net of accumulated amortization of $10,988 and $10,639, at June 30, 2018 and March 31, 2018, respectively | 9,946 | 10,295 |
Other assets | 91,164 | 91,464 |
Deferred tax asset | 1,095,634 | 1,095,634 |
Total other assets | 1,431,446 | 1,441,564 |
Total assets | 4,556,392 | 4,552,134 |
Current liabilities: | ||
Capital lease payable | 31,196 | 31,196 |
Line of credit | 35,000 | |
Accounts payable | 258,545 | 286,964 |
Accrued expenses and other current liabilities | 125,518 | 149,382 |
Customer deposits | 122,167 | 122,167 |
Due to stockholder | 137,522 | 130,551 |
Total current liabilities | 709,948 | 720,260 |
Long-term liabilities | ||
Capital lease payable, net of current portion | 46,590 | 54,637 |
Total liabilities | 756,538 | 774,897 |
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 shares authorized, 67,588,504 shares issued and outstanding | 33,794 | 33,794 |
Additional paid-in capital | 33,294,069 | 33,294,069 |
Accumulated deficit | (29,528,009) | (29,550,626) |
Total stockholders' equity | 3,799,854 | 3,777,237 |
Total liabilities and stockholders' equity | $ 4,556,392 | $ 4,552,134 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2018 | Mar. 31, 2018 |
Allowance for doubtful accounts | $ 125,000 | $ 125,000 |
Property and equipment, accumulated depreciation | 79,909 | 70,440 |
Intangible assets, accumulated amortization | $ 10,988 | $ 10,639 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0005 | $ 0.0005 |
Common stock, authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, issued (in shares) | 67,588,504 | 67,588,504 |
Common stock, outstanding (in shares) | 67,588,504 | 67,588,504 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Net revenues | $ 756,967 | $ 1,146,355 |
Cost of sales | 304,421 | 620,795 |
Gross profit | 452,546 | 525,560 |
Operating expenses: | ||
Research and development | 109,868 | 149,957 |
Selling, general and administrative | 320,025 | 364,371 |
Depreciation and amortization | 5,557 | 7,491 |
Total operating expenses | 435,450 | 521,819 |
Income from operations | 17,096 | 3,741 |
Other income (expense): | ||
Interest income | 6,249 | 1,620 |
Interest expense | (728) | (728) |
Total other income (expense) | 5,521 | 892 |
Income before provision for income taxes | 22,617 | 4,633 |
Provision for income taxes: | ||
Current | 2,000 | |
Total provision for income taxes | 2,000 | |
Net income | $ 22,617 | $ 2,633 |
Basic and diluted earnings per common share: (in dollars per share) | $ 0 | $ 0 |
Weighted average shares of common stock outstanding - basic (in shares) | 67,588,504 | 67,588,504 |
Weighted average shares of common stock outstanding - diluted (in shares) | 67,588,504 | 67,588,504 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 22,617 | $ 2,633 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization | 9,818 | 11,223 |
Changes in operating assets and liabilities balances: | ||
Accounts receivable | (45,649) | (165,615) |
Inventories | (87,760) | 83,677 |
Prepaid expenses and other current assets | (15,575) | 29,511 |
Accounts payable | (28,419) | (93,824) |
Accrued expenses and other current liabilities | (23,864) | (6,962) |
Net cash used in operating activities | (168,832) | (139,357) |
Cash flows provided by (used) in financing activities: | ||
Repayments on capital lease payable | (8,047) | (4,733) |
Borrowing on line of credit | 35,000 | |
Borrowings from (repayments to) stockholder | 6,971 | (87,863) |
Net cash provided by (used in) financing activities | 33,924 | (92,596) |
Net decrease in cash and cash equivalents | (134,908) | (231,953) |
Cash and cash equivalents - beginning of period | 1,693,532 | 1,982,276 |
Cash and cash equivalents - end of period | 1,558,624 | 1,750,323 |
Cash paid for: | ||
Interest | $ 728 | $ 728 |
Note 1 - Nature of Business
Note 1 - Nature of Business | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 ADM Tronics Unlimited, Inc., incorporated under the laws of the state of Delaware on November 24, 1969, The accompanying unaudited condensed consolidated financial statements have been prepared by ADM pursuant to generally accepted accounting principles in the United States and the rules and regulations of the Securities and Exchange Commission (“SEC”) including Form 10 X. March 31, 2018 10 three June 30, 2018 ( not March 31, 2019. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 3 Months Ended |
Jun. 30, 2018 | |
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 Medical Systems, Inc. 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 ("US GAAP") 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 ELECTRONICS: We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 5 no no $2,000, three June 30, 2018 2017. 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 three June 30, 2018 June 30, 2017, 3,000,000 June 30, 2018 2017, RECENT ACCOUNTING PRONOUNCEMENTS Effective April 1, 2018 606 not not In July 2015, 2015 11, April 2017, not In February 2016, 2016 02, 12 April 2019. not In June 2016, 2016 13 not December 15, 2019. In February 2018, 2018 02, 220 2017 December 15, 2018 not In June 2018, 2018 07, 718 December 15, 2018, not Management does not not |
Note 3 - Inventories
Note 3 - Inventories | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3 Inventories at June 30, 2018 Current Long Term Total Raw materials $ 209,879 $ 109,908 $ 319,787 Finished goods 78,904 1,143 80,047 $ 288,783 $ 111,051 $ 399,834 Inventories at March 31, 2018 Current Long Term Total Raw materials $ 168,640 $ 110,433 $ 279,073 Finished goods 32,383 618.00 33,001 $ 201,023 $ 111,051 $ 312,074 The Company values its inventories at the lower of cost and net realizable value using the first first |
Note 4 - Concentrations
Note 4 - Concentrations | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 4 During the three June 30, 2018 two 52% three June 30, 2017 two 60% As of June 30, 2018, three 97% As of March 31, 2018, two 93% The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Net revenues from foreign customers for the three June 30, 2018 $101,965 13% Revenues from foreign customers represented $68,381 6% three June 30, 2017 As of June 30, 2018, March 31, 2018, $32,251 $39,995, |
Note 5 - Net Revenues and Segme
Note 5 - Net Revenues and Segment Information | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 5 Net Revenues and Segment Information No 10% three June 30, 2018 2017. Three Months Ended June 30, 2018 2017 Net revenue - in the U.S. $ 655,002 $ 1,077,974 Net revenue - outside the U.S. 101,965 68,381 $ 756,967 $ 1,146,355 Net revenue by products and services is as follows: Three Months Ended June 30, 2018 2017 Net revenue - products $ 508,137 $ 801,947 Net revenue - services 248,830 344,408 $ 756,967 $ 1,146,355 Net revenue by segment is as follows: Chemical Electronics Engineering Total Three months ended June 30, 2018 Revenue from external customers $ 359,171 $ 148,966 $ 248,830 $ 756,967 Segment operating income $ 40,575 $ (62,843 ) $ 39,364 $ 17,096 Three months ended June 30, 2017 Revenue from external customers $ 308,355 $ 493,592 $ 344,408 $ 1,146,355 Segment operating income $ 65,446 $ (140,271 ) $ 78,566 $ 3,741 Total assets at June 30, 2018 $ 2,161,949 $ 896,667 $ 1,497,776 $ 4,556,392 Total assets at March 31, 2018 $ 1,687,276 $ 1,280,908 $ 1,583,950 $ 4,552,134 |
Note 6 - Options Outstanding
Note 6 - Options Outstanding | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 6 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 three June 30, 2018 March 31, 2018. June 30, 2018 March 31, 2018 # of Shares Weighted Average Exercise Price # of Shares Weighted Average Exercise Price Outstanding, beginning of period/year 3,000,000 $ 0.20 3,000,000 $ 0.20 Issued - - - - Exercised - - - - Expired - - - - 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 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 7 We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2028. June 30, 2018 For the twelve-month period ended June 30, Amount 2019 $ 101,875 2020 101,875 2021 101,875 2022 101,875 2023 101,875 Thereafter 534,375 $ 1,043,750 Rent and real estate tax expense for all facilities for the three June 30, 2018 2017 $35,000 $32,000, On December 2, 2016, $85,680, $6,930 forty-eight 48 forty-eight $1,785. June 30, 2018, $47,578. On December 2, 2016, $54,710, $4,710 forty-eight 48 forty-eight $1,139. June 30, 2018, $30,208. |
Note 8 - Line of Credit
Note 8 - Line of Credit | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8 – LINE OF CREDIT On June 15, 2018, $400,000. May 16, 2019 5.37%. June 30, 2018, $35,000. |
Note 9 - Income Taxes
Note 9 - Income Taxes | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9 - INCOME TAXES At June 30, 2018, $1,950,000. may not not may The Company provides a partial valuation allowance for the deferred tax asset resulting from the uncertainty that the stock-based compensation will be deductible. During the three June 30, 2018, $22,000 $1,950,000 The effective rates were approximately 0% three June 30, 2018 2017, |
Note 10 - Due to Stockholder
Note 10 - Due to Stockholder | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Compensation Related Costs, General [Text Block] | NOTE 10 – DUE TO STOCKHOLDER The Company’s President has been deferring his salary and bonuses periodically to assist the Company’s cash flow. There are no |
Note 11 - Restatements
Note 11 - Restatements | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | NOTE 1 1 – RESTATEMENTS During the audit of March 31, 2018, June 2017 |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 3 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 1 2 – SUBSEQUENT EVENTS We evaluated all subsequent events from the date of the condensed consolidated balance sheet through the issuance date and determined that there are no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2018 | |
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 Medical Systems, Inc. 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 ("US GAAP") 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 ELECTRONICS: We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited 90 5 no no $2,000, three June 30, 2018 2017. 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 three June 30, 2018 June 30, 2017, 3,000,000 June 30, 2018 2017, |
New Accounting Pronouncements, Policy [Policy Text Block] | RECENT ACCOUNTING PRONOUNCEMENTS Effective April 1, 2018 606 not not In July 2015, 2015 11, April 2017, not In February 2016, 2016 02, 12 April 2019. not In June 2016, 2016 13 not December 15, 2019. In February 2018, 2018 02, 220 2017 December 15, 2018 not In June 2018, 2018 07, 718 December 15, 2018, not Management does not not |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule Of Inventory [Table Text Block] | Current Long Term Total Raw materials $ 209,879 $ 109,908 $ 319,787 Finished goods 78,904 1,143 80,047 $ 288,783 $ 111,051 $ 399,834 Current Long Term Total Raw materials $ 168,640 $ 110,433 $ 279,073 Finished goods 32,383 618.00 33,001 $ 201,023 $ 111,051 $ 312,074 |
Note 5 - Net Revenues and Seg20
Note 5 - Net Revenues and Segment Information (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended June 30, 2018 2017 Net revenue - in the U.S. $ 655,002 $ 1,077,974 Net revenue - outside the U.S. 101,965 68,381 $ 756,967 $ 1,146,355 |
Revenue from External Customers by Products and Services [Table Text Block] | Three Months Ended June 30, 2018 2017 Net revenue - products $ 508,137 $ 801,947 Net revenue - services 248,830 344,408 $ 756,967 $ 1,146,355 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Chemical Electronics Engineering Total Three months ended June 30, 2018 Revenue from external customers $ 359,171 $ 148,966 $ 248,830 $ 756,967 Segment operating income $ 40,575 $ (62,843 ) $ 39,364 $ 17,096 Three months ended June 30, 2017 Revenue from external customers $ 308,355 $ 493,592 $ 344,408 $ 1,146,355 Segment operating income $ 65,446 $ (140,271 ) $ 78,566 $ 3,741 Total assets at June 30, 2018 $ 2,161,949 $ 896,667 $ 1,497,776 $ 4,556,392 Total assets at March 31, 2018 $ 1,687,276 $ 1,280,908 $ 1,583,950 $ 4,552,134 |
Note 6 - Options Outstanding (T
Note 6 - Options Outstanding (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | June 30, 2018 March 31, 2018 # of Shares Weighted Average Exercise Price # of Shares Weighted Average Exercise Price Outstanding, beginning of period/year 3,000,000 $ 0.20 3,000,000 $ 0.20 Issued - - - - Exercised - - - - Expired - - - - 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 7 - Commitments and Cont22
Note 7 - Commitments and Contingencies (Tables) | 3 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | For the twelve-month period ended June 30, Amount 2019 $ 101,875 2020 101,875 2021 101,875 2022 101,875 2023 101,875 Thereafter 534,375 $ 1,043,750 |
Note 2 - Significant Accounti23
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Earnings Per Share, Basic and Diluted, Total | $ 0 | $ 0 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,000,000 | 3,000,000 |
Maximum [Member] | ||
Product Warranty Expense | $ 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 ($) | Jun. 30, 2018 | Mar. 31, 2018 |
Raw materials | $ 319,787 | $ 279,073 |
Finished goods | 80,047 | 33,001 |
399,834 | 312,074 | |
Current [Member] | ||
Raw materials | 209,879 | 168,640 |
Finished goods | 78,904 | 32,383 |
288,783 | 201,023 | |
Long Term [Member | ||
Raw materials | 109,908 | 110,433 |
Finished goods | 1,143 | 618 |
$ 111,051 | $ 111,051 |
Note 4 - Concentrations (Detail
Note 4 - Concentrations (Details Textual) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Mar. 31, 2018USD ($) | |
Revenue from Contract with Customer, Including Assessed Tax | $ 756,967 | $ 1,146,355 | |
Accounts Receivable, Net, Current, Total | 1,253,142 | $ 1,207,493 | |
Foreign Customers [Member] | |||
Accounts Receivable, Net, Current, Total | $ 32,251 | $ 39,995 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||
Concentration Risk, Number of Customers | 2 | 2 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Customers [Member] | |||
Concentration Risk, Percentage | 52.00% | 60.00% | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Customers [Member] | |||
Concentration Risk, Percentage | 13.00% | 6.00% | |
Revenue from Contract with Customer, Including Assessed Tax | $ 101,965 | $ 68,381 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Concentration Risk, Number of Customers | 3 | 2 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | |||
Concentration Risk, Percentage | 93.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member] | |||
Concentration Risk, Percentage | 97.00% |
Note 5 - Net Revenues and Seg26
Note 5 - Net Revenues and Segment Information - Net Revenue, Classified by Geography (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue from external customers | $ 756,967 | $ 1,146,355 |
UNITED STATES | ||
Revenue from external customers | 655,002 | 1,077,974 |
Non-US [Member] | ||
Revenue from external customers | $ 101,965 | $ 68,381 |
Note 5 - Net Revenues and Seg27
Note 5 - Net Revenues and Segment Information - Net Revenue by Products and Services (Details) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue from external customers | $ 756,967 | $ 1,146,355 |
Product [Member] | ||
Revenue from external customers | 508,137 | 801,947 |
Service [Member] | ||
Revenue from external customers | $ 248,830 | $ 344,408 |
Note 5 - Net Revenues and Seg28
Note 5 - Net Revenues and Segment Information - Summary of Segment Information (Details) - USD ($) | 3 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | |
Revenue from external customers | $ 756,967 | $ 1,146,355 | |
Segment operating income | 17,096 | 3,741 | |
Total assets | 4,556,392 | $ 4,552,134 | |
Chemical [Member] | |||
Revenue from external customers | 359,171 | 308,355 | |
Segment operating income | 40,575 | 65,446 | |
Total assets | 2,161,949 | 1,687,276 | |
Electronics [Member] | |||
Revenue from external customers | 148,966 | 493,592 | |
Segment operating income | (62,843) | (140,271) | |
Total assets | 896,667 | 1,280,908 | |
Engineering [Member] | |||
Revenue from external customers | 248,830 | 344,408 | |
Segment operating income | 39,364 | $ 78,566 | |
Total assets | $ 1,497,776 | $ 1,583,950 |
Note 6 - Options Outstanding (D
Note 6 - Options Outstanding (Details Textual) - USD ($) | Sep. 02, 2015 | Jun. 30, 2018 | Mar. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 3,000,000 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.20 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 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 Term | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Note 6 - Options Outstanding -
Note 6 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares | Sep. 02, 2015 | Jun. 30, 2018 | Mar. 31, 2018 |
Outstanding, beginning of period/year (in shares) | 3,000,000 | 3,000,000 | |
Outstanding, beginning of period/year (in dollars per share) | $ 0.20 | $ 0.20 | |
Issued (in shares) | 3,000,000 | ||
Issued, weighted average exercise price (in dollars per share) | $ 0.20 | ||
Exercised (in shares) | |||
Exercised, weighted average exercise price (in dollars per share) | |||
Expired (in shares) | |||
Expired, weighted average exercise price (in dollars per share) | |||
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 7 - Commitments and Cont31
Note 7 - Commitments and Contingencies (Details Textual) | Dec. 02, 2016USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) |
Operating Leases, Rent Expense, Total | $ 35,000 | $ 32,000 | |
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, Total | $ 1,785 | ||
Capital Lease Obligations, Total | 47,578 | ||
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, Total | $ 1,139 | ||
Capital Lease Obligations, Total | $ 30,208 |
Note 7 - Commitments and Cont32
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Jun. 30, 2018USD ($) |
2,019 | $ 101,875 |
2,020 | 101,875 |
2,021 | 101,875 |
2,022 | 101,875 |
2,023 | 101,875 |
Thereafter | 534,375 |
$ 1,043,750 |
Note 8 - Line of Credit (Detail
Note 8 - Line of Credit (Details Textual) - USD ($) | Jun. 15, 2018 | Jun. 30, 2018 | Mar. 31, 2018 |
Short-term Debt, Total | $ 35,000 | ||
Revolving Credit Facility [Member] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 400,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.37% | ||
Short-term Debt, Total | $ 35,000 | ||
Line of Credit Facility, Expiration Date | May 16, 2019 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Loss Carryforwards, Total | $ 1,950,000 | |
Operating Loss Carry-Forward, Amount Utilized | 22,000 | |
Operating Loss Carry-Forward, Expected Utilization Amount | $ 1,950,000 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 0.00% | 0.00% |
Note 10 - Due to Stockholder (D
Note 10 - Due to Stockholder (Details Textual) $ in Thousands | Jun. 30, 2018USD ($) |
Deferred Compensation Liability, Interest Accrued | $ 0 |