• Filing Date: 2014-08-14
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Document And Entity Information
3 Months Ended
Jun. 30, 2014
Aug. 14, 2014
Document and Entity Information [Abstract]    
Entity Registrant Name ADM TRONICS UNLIMITED INC/DE  
Document Type 10-Q  
Current Fiscal Year End Date --03-31  
Entity Common Stock, Shares Outstanding   64,939,537
Amendment Flag false  
Entity Central Index Key 0000849401  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Filer Category Smaller Reporting Company  
Entity Well-known Seasoned Issuer No  
Document Period End Date Jun. 30, 2014  
Document Fiscal Year Focus 2015  
Document Fiscal Period Focus Q1  
v2.4.0.8
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Current assets:    
Cash and cash equivalents $ 69,894 $ 83,156
Accounts receivable, net of allowance for doubtful accounts of $3,000 for each period 382,174 271,038
Inventories 157,981 94,692
Prepaid expenses and other current assets 34,461 10,623
Restricted cash 232,264 232,264
Total current assets 876,774 691,773
Property and equipment, net of accumulated depreciation of $72,087 and $70,942, respectively 5,229 6,374
Inventories - long-term portion 57,753 38,046
Secured convertible note receivable, including interest of $21,947 and $20,900, respectively 63,947 62,900
Intangible assets, net of accumulated amortization of $152,274 and $151,777, respectively 15,874 16,371
Other assets 15,764 14,764
Total other assets 158,567 138,455
Total assets 1,035,341 830,228
Current liabilities:    
Note payable - bank 132,990 136,990
Accounts payable 255,690 208,248
Accrued expenses and other current liabilities 623,520 497,677
Total current liabilities 1,012,200 842,915
Total liabilities 1,012,200 842,915
Stockholders' (deficiency) equity:    
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.0005 par value; 150,000,000 authorized, 64,939,537 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively 32,470 32,470
Additional paid-in capital 32,298,094 32,298,094
Accumulated deficit (32,307,423) (32,343,251)
Total stockholders' (deficiency) equity 23,141 (12,687)
Total liabilities and stockholders' (deficiency) equity $ 1,035,341 $ 830,228
v2.4.0.8
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Allowance for doubtful accounts (in Dollars) $ 3,000 $ 3,000
Accumulated depreciation (in Dollars) 72,087 70,942
Secured convertible note receivable interest (in Dollars) 21,947 20,900
Accumulated amortization (in Dollars) $ 152,274 $ 151,777
Preferred stock, par value (in Dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized 5,000,000 5,000,000
Preferred stock, shares issued 0 0
Preferred stock, shares outstanding 0 0
Common stock, par value (in Dollars per share) $ 0.0005 $ 0.0005
Common stock, shares authorized 150,000,000 150,000,000
Common stock, shares issued 64,939,537 64,939,537
Common stock, shares outstanding 64,939,537 64,939,537
v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Net revenues $ 623,674 $ 322,439
Cost of sales, exclusive of depreciation and amortization 244,652 149,202
Gross Profit 379,022 173,237
Operating expenses:    
Research and development 12,045 8,673
Selling, general and administrative 329,601 226,956
Depreciation and amortization 1,642 4,408
Total operating expenses 343,288 240,037
Income (loss) from operations 35,734 (66,800)
Other income (expense):    
Interest income 1,047 1,352
Interest expense (953) (790)
Total other income 94 562
Net income (loss) $ 35,828 $ (66,238)
Basic net income (loss) per common share: (in Dollars per share) $ 0.00 $ 0.00
Diluted net income (loss) per common share (in Dollars per share) $ 0.00 $ 0.00
Weighted average shares of common stock outstanding - basic (in Shares) 64,939,537 59,939,537
Weighted average shares of common stock outstanding - diluted (in Shares) 65,539,537 59,939,537
v2.4.0.8
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Net income (loss) $ 35,828 $ (66,238)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,642 4,408
Interest receivable (1,047) (1,047)
Increase (decrease) in cash flows as a result of changes in net assets and liabilities balances:    
Accounts receivable (111,136) 20,593
Inventories (82,996) (20,350)
Prepaid expenses and other current assets (23,838) (8,901)
Other assets (1,000)  
Accounts payable 47,442 2,377
Accrued expenses and other current liabilities 125,843 (781)
Net cash used in operating activities (9,262) (69,939)
Cash flows used in investing activities:    
Restricted cash   (304)
Cash flows used in financing activities:    
Repayments on note payable - Bank (4,000) (3,000)
Net decrease in cash and cash equivalents (13,262) (73,243)
Cash and cash equivalents - beginning of period 83,156 105,087
Cash and cash equivalents - end of period 69,894 31,844
Cash paid for:    
Interest $ 953 $ 790
v2.4.0.8
Note 1 - Nature of Business
3 Months Ended
Jun. 30, 2014
Disclosure Text Block [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE 1 - NATURE OF BUSINESS


ADM Tronics Unlimited, Inc. ("we", "us", the “Company" or "ADM"), was incorporated under the laws of the state of Delaware on November 24, 1969. We are a manufacturing and engineering concern whose principal lines of business are the production and sale of chemical products and the manufacture and sale of electronics. On July 17, 2009, we purchased the assets of Antistatic Industries of Delaware Inc., (“Antistatic”) a company involved in the research, development and manufacture of water-based and proprietary electrically conductive paints, coatings and other products and accessories which can be used by electronics, computer, pharmaceutical and chemical companies to prevent, reduce or eliminate static electricity.


The accompanying condensed consolidated financial statements as of June 30, 2014 (unaudited) and March 31, 2014 and for the three month period ended June 30, 2014 and 2013 (unaudited) have been prepared by ADM pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) including Form 10-Q and Regulation S-X. The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted pursuant to such rules and regulations. These condensed consolidated financial statements and the information included under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations" should be read in conjunction with the audited financial statements and explanatory notes for the year ended March 31, 2014 as disclosed in our annual report on Form 10-K for that year . The results of the three months ended June 30, 2014 (unaudited) are not necessarily indicative of the results to be expected for the pending full year ending March 31, 2015.


v2.4.0.8
Note 2 - Significant Accounting Policies
3 Months Ended
Jun. 30, 2014
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES


PRINCIPLES OF CONSOLIDATION


The condensed consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its subsidiaries Sonotron, Action (through March 31, 2013), and Pegasus (through March 31, 2012). 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 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. For contract manufacturing, revenues are recognized after shipment of the completed products.


NET INCOME / (LOSS) PER SHARE


Basic net income (loss) per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed similar to basic loss 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. Common stock equivalents for the three months ended June 30, 2013, have been excluded from the fully diluted calculation of net income (loss) per share, as inclusion would be anti-dilutive.


Per share basic and diluted net income (loss) amounted to $0.00 and ($0.00) for the three months ended June 30, 2014 and 2013, respectively. There were 600,000 and 5,600,000 common stock equivalents at June 30, 2014 and 2013, respectively.


RECENT ACCOUNTING PRONOUNCEMENTS


On May 14, 2014, FASB and IASB issued a new joint revenue recognition standard that supersedes nearly all US GAAP guidance on revenue recognition. The core principal of the standard is that revenue recognition should depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The new standard is effective for the Partnership for the fiscal year beginning April 1, 2017 and the effects of the standard on the Partnership’s consolidated financial statements are not known at this time.


Management does not believe that any other recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying condensed consolidated financial statements.


v2.4.0.8
Note 3 - Inventory
3 Months Ended
Jun. 30, 2014
Inventory Disclosure [Abstract]  
Inventory Disclosure [Text Block]

NOTE 3 - INVENTORY     


Inventory at June 30, 2014 consisted of the following:            


   

Current

   

Long Term

   

Total

 

Raw materials

  $ 136,877     $ 56,071     $ 192,948  

Finished Goods

    21,104       1,682       22,786  
    $ 157,981     $ 57,753     $ 215,734  

Inventory at March 31, 2014 consisted of the following:        


   

Current

   

Long Term

   

Total

 

Raw materials

  $ 78,072     $ 36,364     $ 114,436  

Finished Goods

    16,620       1,682       18,302  
    $ 94,692     $ 38,046     $ 132,738  

The Company values its inventories at the first in, first out ("FIFO") method at the lower of cost or market.


v2.4.0.8
Note 4 - Secured Convertible Note Receivable
3 Months Ended
Jun. 30, 2014
Receivables [Abstract]  
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 4 – SECURED CONVERTIBLE NOTE RECEIVABLE


On June 4, 2009 the Company invested in Wellington Scientific, LLC (“Wellington”) which has rights to an electronic uroflowmetry diagnostic medical device technology. The Company invested a total of $50,000, with $10,000 provided in cash, and $40,000 in services to Wellington. Wellington issued a convertible note to the Company for a principal amount of $50,000 with an interest rate of 10% due at various dates through July 15, 2012. The total of the note receivable and accrued interest at June 30, 2014 and March 31, 2014 was $63,947 and $62,900, respectively. At the option of the Company, the Note is convertible in whole or in part, into equity of Wellington. The conversion price, and resulting equity ownership percentage in Wellington, is determined by dividing the cash value of principal and accrued interest by $2,000,000. (See Legal Proceedings).


As of August 14, 2014, the loan has not yet been repaid.


v2.4.0.8
Note 5 - Concentrations
3 Months Ended
Jun. 30, 2014
Risks and Uncertainties [Abstract]  
Concentration Risk Disclosure [Text Block]

NOTE 5 – CONCENTRATIONS


During the three month period ended June 30, 2014, one customer accounted for 18% of our revenue. As of June 30, 2014, three customers represented approximately 52% of our accounts receivable.


During the three month period ended June 30, 2013, two customers accounted for 35% of our revenue. As of June 30, 2013, three customers represented approximately 53% of our accounts receivable.


The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $40,095 of net revenue or 6.4% for the three months ended June 30, 2014 and $46,954 of net revenue or 14.6% for the three months ended June 30, 2013. As of June 30, 2014 and 2013, accounts receivable includes approximately $4,300 and $4,000, respectively, from foreign customers.


v2.4.0.8
Note 6 - Segment Information
3 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

NOTE 6 - SEGMENT INFORMATION


Information about segments is as follows:


   

Chemical

   

Electronics

   

Total

 

Three months ended June 30, 2014

                       

Revenue from external customers

  $ 297,158     $ 326,516     $ 623,674  

Segment operating income (loss)

  $ 77,032     $ (41,298 )   $ 35,734  
                         

Three months ended June 30, 2013

                       

Revenue from external customers

  $ 249,780     $ 72,659     $ 322,439  

Segment operating income (loss)

  $ 70,571     $ (137,371 )   $ (66,800 )
                         
                         

Total assets at June 30, 2014

  $ 488,768     $ 546,573     $ 1,035,341  
                         

Total assets at March 31, 2014

  $ 613,406     $ 216,822     $ 830,228  

v2.4.0.8
Note 7 - Options Outstanding
3 Months Ended
Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 7 - OPTIONS OUTSTANDING


During 2013, ADM granted an aggregate of 5,600,000 stock options to employees and consultants expiring at various dates through fiscal 2015. During 2014, 5,000,000 of the outstanding stock options were exercised. The options had various exercise prices and were fully vested at the date of grant. The options were valued at $55,997 using the Black Scholes option pricing model with the following assumptions: risk free interest rate of 4.9%, volatility of 414%, estimated useful life of 1.5 years and dividend rate of 0%. The following table summarizes information on all common share purchase options issued by us as of June 30, 2014 and 2013.


   

2014

   

2013

 
                                 
   

# of Shares

   

Weighted

Average

Exercise

Price

   

# of Shares

   

Weighted

Average

Exercise

Price

 
                                 

Outstanding, beginning of year

    600,000     $ 0.01       5,600,000     $ 0.01  
                                 

Issued

    -     $ -       -     $ -  
                                 

Exercised

    -     $ -       -     $ -  
                                 

Expired

    -     $ -       -     $ -  
                                 

Outstanding, end of year

    600,000     $ 0.01       5,600,000     $ 0.01  
                                 

Exercisable, end of year

    600,000     $ 0.01       5,600,000     $ 0.01  

v2.4.0.8
Note 8 - Commitments and Contingencies
3 Months Ended
Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]

NOTE 8 - COMMITMENTS AND CONTINGENCIES


We lease our office and manufacturing facility under a non-cancelable operating lease, which expires on June 30, 2019. The Company’s future minimum lease commitment at June 30, 2014 is as follows:


Period

 

Per year

 

2015

  $ 104,625  

2016

    104,625  

2017

    104,625  

2018

    104,625  

2019

    104,625  
    $ 523,125  

Rent and real estate tax expense for all facilities for the three months ended June 30, 2014 and 2013 was approximately $31,000 for each period.


MASTER SERVICES AGREEMENT


On February 12, 2010, ADM agreed to provide certain services to Ivivi Health Sciences, LLC (IHS) pursuant to a Master Services Agreement, as described below:


 

We provided IHS with engineering services, including quality control and quality assurance services along with regulatory compliance services, warehouse fulfillment services and network administrative services including hardware and software services;


 

We were paid at the rate of $26,000 per month by IHS for these services; in August 2012 IHS agreed to pay ADM approximately $6,000 per month for reduced services on a month-to-month basis, and on October 1, 2013 the monthly amount to be paid by IHS was reduced to $3,000 plus additional amounts for individual projects requested time to time by IHS. Pursuant to this agreement, revenues from engineering services to IHS for the three months ended June 30, 2014 and 2013 were $9,000 and $19,096, respectively.


MANUFACTURING AGREEMENT


Under the terms of the February 12, 2010 manufacturing agreement with IHS, ADM has agreed to serve as the exclusive manufacturer of all current and future medical and non-medical electronic and other electronic devices or products to be sold or rented by IHS. For each product that ADM manufactures, IHS pays ADM an amount equal to 120% of the sum of (i) the actual, invoiced cost for raw materials, parts, components or other physical items that are used in the manufacture of product and actually purchased for such entity by ADM, if any, plus (ii) a labor charge the based on ADM’s standard hourly manufacturing labor rate, which ADM believes is more favorable than could be attained from unaffiliated third parties. Under the terms of the Agreement, if ADM is unable to perform its obligations to IHS under the manufacturing agreement or is otherwise in breach of any provision of the manufacturing agreement, IHS has the right, without penalty, to engage third parties to manufacture some or all of its products. In addition, if IHS elects to utilize a third-party manufacturer to supplement the manufacturing being completed by ADM, IHS has the right to require ADM to accept delivery of its products from these third-party manufacturers, finalize the manufacture of the products to the extent necessary to ensure that the design, testing, control, documentation and other quality assurance procedures during all aspects of the manufacturing process have been met.


Pursuant to the manufacturing agreement, sales of finished goods to IHS for the three months ended June 30, 2014 and 2013 were $-0- and $41,189, respectively.


v2.4.0.8
Note 9 - Income Taxes
3 Months Ended
Jun. 30, 2014
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]

NOTE 9 - INCOME TAXES


The provision for income taxes of -0- is net of a benefit from the carry forward of a net operating loss of $12,000.


v2.4.0.8
Note 10 - Subsequent Events
3 Months Ended
Jun. 30, 2014
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 10 – SUBSEQUENT EVENTS


We evaluated all subsequent events from the date of the condensed consolidated balance sheet through the issuance date of this report 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.


v2.4.0.8
Accounting Policies, by Policy (Policies)
3 Months Ended
Jun. 30, 2014
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 subsidiaries Sonotron, Action (through March 31, 2013), and Pegasus (through March 31, 2012). 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 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. For contract manufacturing, revenues are recognized after shipment of the completed products.

Earnings Per Share, Policy [Policy Text Block]

NET INCOME / (LOSS) PER SHARE


Basic net income (loss) per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed similar to basic loss 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. Common stock equivalents for the three months ended June 30, 2013, have been excluded from the fully diluted calculation of net income (loss) per share, as inclusion would be anti-dilutive.


Per share basic and diluted net income (loss) amounted to $0.00 and ($0.00) for the three months ended June 30, 2014 and 2013, respectively. There were 600,000 and 5,600,000 common stock equivalents at June 30, 2014 and 2013, respectively.

New Accounting Pronouncements, Policy [Policy Text Block]

RECENT ACCOUNTING PRONOUNCEMENTS


On May 14, 2014, FASB and IASB issued a new joint revenue recognition standard that supersedes nearly all US GAAP guidance on revenue recognition. The core principal of the standard is that revenue recognition should depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The new standard is effective for the Partnership for the fiscal year beginning April 1, 2017 and the effects of the standard on the Partnership’s consolidated financial statements are not known at this time.


Management does not believe that any other recently issued, but not yet effective accounting pronouncement, if adopted, would have a material effect on the accompanying condensed consolidated financial statements.

v2.4.0.8
Note 3 - Inventory (Tables)
3 Months Ended
Jun. 30, 2014
Inventory Disclosure [Abstract]  
Schedule of Inventory, Current [Table Text Block]
   

Current

   

Long Term

   

Total

 

Raw materials

  $ 136,877     $ 56,071     $ 192,948  

Finished Goods

    21,104       1,682       22,786  
    $ 157,981     $ 57,753     $ 215,734  
   

Current

   

Long Term

   

Total

 

Raw materials

  $ 78,072     $ 36,364     $ 114,436  

Finished Goods

    16,620       1,682       18,302  
    $ 94,692     $ 38,046     $ 132,738  
v2.4.0.8
Note 6 - Segment Information (Tables)
3 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   

Chemical

   

Electronics

   

Total

 

Three months ended June 30, 2014

                       

Revenue from external customers

  $ 297,158     $ 326,516     $ 623,674  

Segment operating income (loss)

  $ 77,032     $ (41,298 )   $ 35,734  
                         

Three months ended June 30, 2013

                       

Revenue from external customers

  $ 249,780     $ 72,659     $ 322,439  

Segment operating income (loss)

  $ 70,571     $ (137,371 )   $ (66,800 )
                         
                         

Total assets at June 30, 2014

  $ 488,768     $ 546,573     $ 1,035,341  
                         

Total assets at March 31, 2014

  $ 613,406     $ 216,822     $ 830,228  
v2.4.0.8
Note 7 - Options Outstanding (Tables)
3 Months Ended
Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   

2014

   

2013

 
                                 
   

# of Shares

   

Weighted

Average

Exercise

Price

   

# of Shares

   

Weighted

Average

Exercise

Price

 
                                 

Outstanding, beginning of year

    600,000     $ 0.01       5,600,000     $ 0.01  
                                 

Issued

    -     $ -       -     $ -  
                                 

Exercised

    -     $ -       -     $ -  
                                 

Expired

    -     $ -       -     $ -  
                                 

Outstanding, end of year

    600,000     $ 0.01       5,600,000     $ 0.01  
                                 

Exercisable, end of year

    600,000     $ 0.01       5,600,000     $ 0.01  
v2.4.0.8
Note 8 - Commitments and Contingencies (Tables)
3 Months Ended
Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Period

 

Per year

 

2015

  $ 104,625  

2016

    104,625  

2017

    104,625  

2018

    104,625  

2019

    104,625  
    $ 523,125  
v2.4.0.8
Note 2 - Significant Accounting Policies (Details) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Accounting Policies [Abstract]    
Earnings Per Share, Basic and Diluted $ 0.00 $ 0.00
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 600,000 5,600,000
v2.4.0.8
Note 3 - Inventory (Details) - Inventory (USD $)
Jun. 30, 2014
Mar. 31, 2014
Inventory [Line Items]    
Raw materials $ 192,948 $ 114,436
Finished Goods 22,786 18,302
Inventory total 215,734 132,738
Current [Member]
   
Inventory [Line Items]    
Raw materials 136,877 78,072
Finished Goods 21,104 16,620
Inventory total 157,981 94,692
Long Term [Member]
   
Inventory [Line Items]    
Raw materials 56,071 36,364
Finished Goods 1,682 1,682
Inventory total $ 57,753 $ 38,046
v2.4.0.8
Note 4 - Secured Convertible Note Receivable (Details) (USD $)
0 Months Ended 3 Months Ended
Jun. 04, 2009
Jun. 30, 2014
Mar. 31, 2014
Receivables [Abstract]      
Notes, Loans and Financing Receivable, Gross, Noncurrent $ 50,000 $ 63,947 $ 62,900
Payments to Acquire Notes Receivable 10,000    
Other Significant Noncash Transaction, Value of Consideration Given 40,000    
Note Receivable Interest Rate 10.00%    
Convertible Note Receivable Conversion Price Denominator   $ 2,000,000  
v2.4.0.8
Note 5 - Concentrations (Details) (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Mar. 31, 2014
Note 5 - Concentrations (Details) [Line Items]      
Revenues (in Dollars) $ 623,674 $ 322,439  
Accounts Receivable, Net, Current (in Dollars) 382,174   271,038
Foreign Customers [Member] | Sales Revenue, Net [Member]
     
Note 5 - Concentrations (Details) [Line Items]      
Concentration Risk, Percentage 6.40% 14.60%  
Revenues (in Dollars) 40,095 46,954  
Foreign Customers [Member]
     
Note 5 - Concentrations (Details) [Line Items]      
Accounts Receivable, Net, Current (in Dollars) $ 4,300 $ 4,000  
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
     
Note 5 - Concentrations (Details) [Line Items]      
Concentration Risk, Number Of Customers 1 2  
Concentration Risk, Percentage 18.00% 35.00%  
Accounts Receivable [Member] | Customer Concentration Risk [Member]
     
Note 5 - Concentrations (Details) [Line Items]      
Concentration Risk, Number Of Customers 3 3  
Concentration Risk, Percentage 52.00% 53.00%  
v2.4.0.8
Note 6 - Segment Information (Details) - Segment Information (USD $)
3 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Mar. 31, 2014
Segment Reporting Information [Line Items]      
Revenue from external customers $ 623,674 $ 322,439  
Segment operating income (loss) 35,734 (66,800)  
Total assets 1,035,341   830,228
Chemical [Member]
     
Segment Reporting Information [Line Items]      
Revenue from external customers 297,158 249,780  
Segment operating income (loss) 77,032 70,571  
Total assets 488,768   613,406
Electronics [Member]
     
Segment Reporting Information [Line Items]      
Revenue from external customers 326,516 72,659  
Segment operating income (loss) (41,298) (137,371)  
Total assets $ 546,573   $ 216,822
v2.4.0.8
Note 7 - Options Outstanding (Details) (USD $)
3 Months Ended 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Mar. 31, 2014
Mar. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]        
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) 0 0   5,600,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares) 0 0 5,000,000  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars)     $ 55,997  
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate       4.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate       414.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term       1 year 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate       0.00%
v2.4.0.8
Note 7 - Options Outstanding (Details) - Summary of Stock Option Activity (USD $)
3 Months Ended 12 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Mar. 31, 2014
Mar. 31, 2013
Summary of Stock Option Activity [Abstract]        
Outstanding, beginning of year 600,000 5,600,000 5,600,000  
Outstanding, beginning of year $ 0.01 $ 0.01 $ 0.01  
Issued 0 0   5,600,000
Issued $ 0 $ 0    
Exercised 0 0 (5,000,000)  
Exercised $ 0 $ 0    
Expired 0 0    
Expired $ 0 $ 0    
Outstanding, end of year 600,000 5,600,000 600,000 5,600,000
Outstanding, end of year $ 0.01 $ 0.01 $ 0.01 $ 0.01
Exercisable, end of year 600,000 5,600,000    
Exercisable, end of year $ 0.01 $ 0.01    
v2.4.0.8
Note 8 - Commitments and Contingencies (Details) (USD $)
0 Months Ended 3 Months Ended 1 Months Ended 3 Months Ended
Feb. 12, 2010
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
IHS [Member]
Engineering Services [Member]
Jun. 30, 2013
IHS [Member]
Engineering Services [Member]
Oct. 31, 2013
IHS [Member]
Monthly [Member]
Aug. 31, 2012
IHS [Member]
Monthly [Member]
Feb. 28, 2010
IHS [Member]
Monthly [Member]
Jun. 30, 2014
IHS [Member]
Jun. 30, 2013
IHS [Member]
Note 8 - Commitments and Contingencies (Details) [Line Items]                    
Operating Leases, Rent Expense   $ 31,000 $ 31,000              
Sales Revenue, Services, Net       9,000 19,096 3,000 6,000 26,000    
Percentage of Cost Paid By Agreement 120.00%                  
Sales Revenue, Goods, Gross                 $ 0 $ 41,189
v2.4.0.8
Note 8 - Commitments and Contingencies (Details) - Future Minimum Lease Payments (USD $)
Jun. 30, 2014
Future Minimum Lease Payments [Abstract]  
2015 $ 104,625
2016 104,625
2017 104,625
2018 104,625
2019 104,625
$ 523,125
v2.4.0.8
Note 9 - Income Taxes (Details) (USD $)
3 Months Ended
Jun. 30, 2014
Income Tax Disclosure [Abstract]  
Income Tax Expense (Benefit) $ 0
Operating Loss Carryforwards $ 12,000