• Filing Date: 2016-11-17
  • Form Type: 10-Q
  • Description: Quarterly report
v3.5.0.2
Document And Entity Information - shares
6 Months Ended
Sep. 30, 2016
Nov. 17, 2016
Document Information [Line Items]    
Entity Registrant Name ADM TRONICS UNLIMITED, INC.  
Entity Central Index Key 0000849401  
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)   67,008,502
Document Type 10-Q  
Document Period End Date Sep. 30, 2016  
Document Fiscal Year Focus 2017  
Document Fiscal Period Focus Q2  
Amendment Flag false  
v3.5.0.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Sep. 30, 2016
Mar. 31, 2016
Current assets:    
Cash and cash equivalents $ 1,676,761 $ 1,398,848
Accounts receivable, net of allowance for doubtful accounts of $25,000 for each period 917,754 588,875
Inventories 350,822 216,108
Prepaid expenses and other current assets 19,169 18,419
Restricted cash 233,215 233,050
Deferred tax asset 250,000 410,000
Total current assets 3,447,721 2,865,300
Property and equipment, net of accumulated depreciation of $20,496 and $77,690, respectively 27,754 26,859
Inventories - long-term portion 36,547 52,657
Intangible assets, net of accumulated amortization of $8,546 and $155,062, respectively 12,388 13,086
Other assets 17,644 17,644
Deferred tax asset 607,000 447,000
Total other assets 701,333 557,246
Total assets 4,149,054 3,422,546
Current liabilities:    
Note payable - bank 86,966 96,966
Accounts payable 116,412 276,171
Accrued expenses and other current liabilities 248,851 331,231
Customer deposits 108,342 108,342
Due to shareholder 275,208 246,696
Total current liabilities 835,779 1,059,406
Total liabilities 835,779 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, 67,008,502 shares issued and outstanding at September 30, 2016 and March 31, 2016, respectively 33,504 33,504
Additional paid-in capital 33,195,759 33,195,759
Accumulated deficit (29,915,988) (30,866,123)
Total stockholders' equity 3,313,275 2,363,140
Total liabilities and stockholders' equity $ 4,149,054 $ 3,422,546
v3.5.0.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)
Sep. 30, 2016
Mar. 31, 2016
Allowance for doubtful accounts $ 25,000 $ 25,000
Accumulated depreciation 20,496 77,690
Accumulated amortization $ 8,546 $ 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, authorized (in shares) 150,000,000 150,000,000
Common stock, shares issued (in shares) 67,008,502 67,008,502
Common stock, shares outstanding (in shares) 67,008,502 67,008,502
v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Net revenues $ 1,380,338 $ 1,252,881 $ 2,757,769 $ 2,308,809
Cost of sales 636,231 495,680 1,096,158 796,553
Gross Profit 744,107 757,201 1,661,611 1,512,256
Operating expenses:        
Research and development 17,395 30,522 37,796 55,211
Selling, general and administrative 296,762 475,186 671,369 770,411
Stock based compensation 598,699 598,699
Depreciation and amortization 1,487 709 2,939 1,306
Total operating expenses 315,644 1,105,116 712,104 1,425,627
Income (loss) from operations 428,463 (347,915) 949,507 86,629
Other income (expense):        
Interest income 762 248 1,460 569
Interest expense (331) (830) (843) (1,471)
Total other income (expense) 431 (582) 617 (902)
Income (loss) before provision for income taxes 428,894 (348,497) 950,124 85,727
Benefit for income taxes - deferred 857,000 857,000
Net income $ 428,894 $ 508,503 $ 950,124 $ 942,727
Basic and diluted per common share: (in dollars per share) $ 0.01 $ 0.01 $ 0.01 $ 0.01
Weighted average shares of common stock outstanding - basic (in shares) 67,008,502 66,176,418 67,008,502 65,561,357
Weighted average shares of common stock outstanding - diluted (in shares) 67,008,502 66,994,600 67,008,502 66,379,539
v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 950,124 $ 942,727
Adjustments to reconcile net income to net cash provided in operating activities:    
Stock-based compensation 598,699
Depreciation and amortization 4,772 1,600
Deferred income tax (857,000)
Increase (decrease) in cash flows as a result of changes in net assets and liabilities balances:    
Accounts receivable (328,879) (184,743)
Inventories (118,604) (42,427)
Prepaid expenses and other current assets (750) (5,000)
Accounts payable (159,759) (90,538)
Accrued expenses and other current liabilities (82,368) 50,022
Due to shareholder 28,512 25,757
Net cash provided by operating activities 293,048 439,097
Cash flows from investing activities:    
Purchase of equipment (4,970)
Restricted cash (165) (349)
Net cash used by investing activities (5,135) (349)
Cash flows provided (used) in financing activities:    
Repayments on note payable - Bank (10,000) (13,000)
Sale of common stock 300,000
Net cash provided by (used) in financing activities (10,000) 287,000
Net increase in cash 277,913 725,748
Cash and cash equivalents - beginning of year 1,398,848 216,395
Cash and cash equivalents - end of year 1,676,761 942,143
Cash paid for:    
Interest $ 843 $ 1,471
v3.5.0.2
Note 1 - Nature of Business
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
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 technology-based developer and manufacturer of diversified lines of products and derive revenues from the production and sale of electronics for medical devices and other applications; environmentally safe chemical products for industrial, medical and cosmetic uses; and, research, development, regulatory and engineering services.
 
The accompanying condensed consolidated financial statements as of September 30, 2016 (unaudited) and March 31, 2016 and for the three and six months ended September 30, 2016 and 2015 (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 condensed financial position and 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 consolidated financial statements and explanatory notes for the year ended March 31, 2016 as disclosed in our annual report on Form 10-K for that year. The operating results and cash flows for three and six months ended September 30, 2016 (unaudited) are not necessarily indicative of the results to be expected for the pending full year ending March 31, 2017.
v3.5.0.2
Note 2 - Significant Accounting Policies
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
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 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-day warranty on our electronics products and a limited 5-year warranty on our electronic controllers for spas and hot tubs. We have no other post shipment obligations. Based on prior experience, no amounts have been accrued for potential warranty costs and actual costs were less than $2,000, for each of the three and six months ended September 30, 2016 and 2015. For contract manufacturing, revenues are recognized after shipment of the completed products. 
 
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. 
 
NET INCOME PER SHARE
 
Basic net income per share is calculated based on the weighted average number of common shares outstanding during the periods. Diluted net income per share is computed similar to basic income 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 net income amounted to $0.01 and $0.01 for the three and six months ended September 30, 2016 and 2015, respectively. There were 3,000,000 and 3,600,000 common stock equivalents at September 30, 2016 and 2015, respectively.
 
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.  
v3.5.0.2
Note 3 - Inventories
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Inventory Disclosure [Text Block]
NOTE 3 - INVENTORIES
     
 
Inventory at September 30, 2016 consisted of the following:
 
   
Current
   
Long Term
   
Total
 
Raw materials
  $ 334,512     $ 35,937     $ 370,449  
Finished Goods
    16,310       610       16,920  
    $ 350,822     $ 36,547     $ 387,369  
 
Inventory at March 31, 2016 consisted of the following:
 
   
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 in, first out ("FIFO") method at the lower of cost or market.
v3.5.0.2
Note 4 - Concentrations
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]
NOTE 4 – CONCENTRATIONS
 
During the three-month period ended September 30, 2016, one customer accounted for 58% of our revenue.
During the three-month period ended September 30, 2015, one customer accounted for 42% of our revenue.
 
During the six-month period ended September 30, 2016, one customer accounted for 57% of our revenue. As of September 30, 2016, two customers represented 58% of our accounts receivable.
 
During the six-month period ended September 30, 2015, one customer accounted for 42% of our revenue. As of September 30, 2015, one customer represented 50% of our accounts receivable.
 
The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented $97,866 of net revenue or 7.1% for the three months ended September 30, 2016 and $98,411 of net revenue or 7.9% for the three months ended September 30, 2015.
 
Revenues from foreign customers represented $198,398 of net revenue or 7.2% for the six months ended September 30, 2016 and $199,638 of net revenue or 8.6% for the six months ended September 30, 2015.
  
As of September 30, 2016 and 2015, accounts receivable included $4,142 and $35,241, respectively, from foreign customers.
v3.5.0.2
Note 5 - Segment Information
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
NOTE 5 - SEGMENT INFORMATION
 
Information about segments is as follows:
 
   
Chemical
   
Electronics
   
Engineering
   
Total
 
Three months ended September 30, 2016
                               
Revenue from external customers
  $ 363,364     $ 370,450     $ 646,524     $ 1,380,338  
Segment operating income
  $ 102,390     $ 98,388     $ 227,685     $ 428,463  
                                 
Six months ended September 30, 2016
                               
Revenue from external customers
  $ 654,848     $ 937,073     $ 1,165,848     $ 2,757,769  
Segment operating income
  $ 101,215     $ 378,958     $ 469,334     $ 949,507  
                                 
Three months ended September 30, 2015
                               
Revenue from external customers
  $ 385,072     $ 202,374     $ 665,435     $ 1,252,881  
Segment operating income (loss)
  $ (141,767 )   $ (62,222 )   $ (143,926 )   $ (347,915 )
                                 
Six months ended September 30, 2015
                               
Revenue from external customers
  $ 751,016     $ 377,603     $ 1,180,190     $ 2,308,809  
Segment operating income (loss)
  $ 59,133     $ (46,554 )   $ 74,050     $ 86,629  
                                 
Total assets at September 30, 2016
  $ 985,216     $ 1,409,822     $ 1,754,016     $ 4,149,054  
                                 
Total assets at March 31, 2016
  $ 1,070,944     $ 644,189     $ 1,707,413     $ 3,422,546  
v3.5.0.2
Note 6 - Options Outstanding
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE 6 - OPTIONS OUTSTANDING
 
 
On September 2, 2015, ADM granted an additional 3,000,000 stock options to employees at an exercise price of $0.20 per option and with a term of three years. The options were valued at $598,699 using the Black Scholes option pricing model with the following assumptions: risk free interest rate of 2.03%, volatility of 353%, estimated useful life of 3 years and dividend rate of 0%.
 
The following table summarizes information on all common share purchase options issued by us as of September 30, 2016 and 2015.
 
 
   
2016
   
2015
 
   
# of Shares
   
Weighted
Average
Exercise
Price
   
# of Shares
   
Weighted
Average
Exercise
Price
 
                                 
Outstanding, beginning of year
    3,000,000     $ 0.20       600,000     $ 0.02  
                                 
Issued
    -     $ -       3,000,000     $ 0.20  
                                 
Exercised
    -     $ -       -     $ -  
                                 
Expired
    -     $ -       -     $ -  
                                 
Outstanding, end of period
    3,000,000     $ 0.20       3,600,000     $ 0.17  
                                 
Exercisable, end of period
    3,000,000     $ 0.20       3,600,000     $ 0.17  
v3.5.0.2
Note 7 - Commitments and Contingencies
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
NOTE 7 - 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 September 30, 2016 is as follows: 
 
For the twelve-month period ended September 30,
 
Amount
 
2017
  $ 104,625  
2018
    78,469  
    $ 183,094  
 
Rent and real estate tax expense for all facilities for the six months ended September 30, 2016 and 2015 was approximately $63,000 for each period. 
 
On August 21, 2008, the Company entered into a note payable with a commercial bank in the amount of $200,000. This note bears interest at a rate of 2% above the interest rate for the Company’s savings account at this bank. Interest rates at September 30, 2016 and 2015 were 2.15% for each year. The note is secured by cash on deposit with the institution, which is classified as restricted cash. Amounts outstanding under the note are payable on demand and interest is payable monthly.
v3.5.0.2
Note 8 - Income Taxes
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE 8 - INCOME TAXES
 
At September 30, 2016, the Company had federal and state net operating loss carry-forwards ("NOL")'s of approximately $2,566,000, which are due to expire through fiscal 2034.
 
These NOLs may be used to offset future taxable income through their respective expiration dates and thereby reduce or eliminate our federal and state income taxes otherwise payable. A valuation allowance is provided when it is more likely than not that some portion or all of the deferred tax assets will not be realized. Ultimate utilization of such NOL's and credits is dependent upon the Company's ability to generate taxable income in future periods and may be significantly curtailed if a significant change in
 
ownership occurs.
 
Due to the uncertainty related to future taxable income, the Company provides a partial valuation allowance for the deferred tax benefit resulting from the NOL's and depreciation and amortization. During the six months ended September 30, 2016, the Company utilized approximately $692,000 in net operating losses and expects to utilize $2,100,000 before expiration. For the six months ended September 30, 2016, the $380,000 reduction in deferred income taxes was offset by a similar reduction in the valuation allowance.
v3.5.0.2
Note 9 - Due to Shareholder
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Compensation Related Costs, General [Text Block]
NOTE 9 – DUE TO SHAREHOLDER
 
The Company’s President has been deferring his salary and bonuses periodically to assist the Company’s cash flow. There are no repayment terms or interest accruing on this liability.
v3.5.0.2
Note 10 - Subsequent Events
6 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
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.
v3.5.0.2
Significant Accounting Policies (Policies)
6 Months Ended
Sep. 30, 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 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-day warranty on our electronics products and a limited 5-year warranty on our electronic controllers for spas and hot tubs. We have no other post shipment obligations. Based on prior experience, no amounts have been accrued for potential warranty costs and actual costs were less than $2,000, for each of the three and six months ended September 30, 2016 and 2015. For contract manufacturing, revenues are recognized after shipment of the completed products. 
 
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]
NET INCOME PER SHARE
 
Basic net income per share is calculated based on the weighted average number of common shares outstanding during the periods. Diluted net income per share is computed similar to basic income 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 net income amounted to $0.01 and $0.01 for the three and six months ended September 30, 2016 and 2015, respectively. There were 3,000,000 and 3,600,000 common stock equivalents at September 30, 2016 and 2015, respectively.
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.  
v3.5.0.2
Note 3 - Inventories (Tables)
6 Months Ended
Sep. 30, 2016
Notes Tables  
Schedule Of Inventory [Table Text Block]
   
Current
   
Long Term
   
Total
 
Raw materials
  $ 334,512     $ 35,937     $ 370,449  
Finished Goods
    16,310       610       16,920  
    $ 350,822     $ 36,547     $ 387,369  
   
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  
v3.5.0.2
Note 5 - Segment Information (Tables)
6 Months Ended
Sep. 30, 2016
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
Chemical
   
Electronics
   
Engineering
   
Total
 
Three months ended September 30, 2016
                               
Revenue from external customers
  $ 363,364     $ 370,450     $ 646,524     $ 1,380,338  
Segment operating income
  $ 102,390     $ 98,388     $ 227,685     $ 428,463  
                                 
Six months ended September 30, 2016
                               
Revenue from external customers
  $ 654,848     $ 937,073     $ 1,165,848     $ 2,757,769  
Segment operating income
  $ 101,215     $ 378,958     $ 469,334     $ 949,507  
                                 
Three months ended September 30, 2015
                               
Revenue from external customers
  $ 385,072     $ 202,374     $ 665,435     $ 1,252,881  
Segment operating income (loss)
  $ (141,767 )   $ (62,222 )   $ (143,926 )   $ (347,915 )
                                 
Six months ended September 30, 2015
                               
Revenue from external customers
  $ 751,016     $ 377,603     $ 1,180,190     $ 2,308,809  
Segment operating income (loss)
  $ 59,133     $ (46,554 )   $ 74,050     $ 86,629  
                                 
Total assets at September 30, 2016
  $ 985,216     $ 1,409,822     $ 1,754,016     $ 4,149,054  
                                 
Total assets at March 31, 2016
  $ 1,070,944     $ 644,189     $ 1,707,413     $ 3,422,546  
v3.5.0.2
Note 6 - Options Outstanding (Tables)
6 Months Ended
Sep. 30, 2016
Notes Tables  
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
   
2016
   
2015
 
   
# of Shares
   
Weighted
Average
Exercise
Price
   
# of Shares
   
Weighted
Average
Exercise
Price
 
                                 
Outstanding, beginning of year
    3,000,000     $ 0.20       600,000     $ 0.02  
                                 
Issued
    -     $ -       3,000,000     $ 0.20  
                                 
Exercised
    -     $ -       -     $ -  
                                 
Expired
    -     $ -       -     $ -  
                                 
Outstanding, end of period
    3,000,000     $ 0.20       3,600,000     $ 0.17  
                                 
Exercisable, end of period
    3,000,000     $ 0.20       3,600,000     $ 0.17  
v3.5.0.2
Note 7 - Commitments and Contingencies (Tables)
6 Months Ended
Sep. 30, 2016
Notes Tables  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
For the twelve-month period ended September 30,
 
Amount
 
2017
  $ 104,625  
2018
    78,469  
    $ 183,094  
v3.5.0.2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Electronic Products [Member]        
Warranty Term     90 days  
Electronic Controllers for Spas and Hot Tubs [Member]        
Warranty Term     5 years  
Maximum [Member]        
Product Warranty Expense     $ 2,000 $ 2,000
Earnings Per Share, Basic and Diluted $ 0.01 $ 0.01 $ 0.01 $ 0.01
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount     3,000,000 3,600,000
v3.5.0.2
Note 3 - Inventories - Summary of Inventory (Details) - USD ($)
Sep. 30, 2016
Mar. 31, 2016
Current [Member]    
Raw materials $ 334,512 $ 187,333
Finished Goods 16,310 28,775
Total 350,822 216,108
Long Term [Member    
Raw materials 35,937 51,939
Finished Goods 610 718
Total 36,547 52,657
Raw materials 370,449 239,272
Finished Goods 16,920 29,493
Total $ 387,369 $ 268,765
v3.5.0.2
Note 4 - Concentrations (Details Textual)
3 Months Ended 6 Months Ended
Sep. 30, 2016
USD ($)
Sep. 30, 2015
USD ($)
Sep. 30, 2016
USD ($)
Sep. 30, 2015
USD ($)
Mar. 31, 2016
USD ($)
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Customers [Member]          
Concentration Risk, Percentage 7.10% 7.90% 7.20% 8.60%  
Revenues $ 97,866 $ 98,411 $ 198,398 $ 199,638  
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]          
Concentration Risk, Number of Customers 1 1 1 1  
Concentration Risk, Percentage 58.00% 42.00% 57.00% 42.00%  
Customer Concentration Risk [Member] | Accounts Receivable [Member]          
Concentration Risk, Number of Customers     2 1  
Concentration Risk, Percentage     58.00% 50.00%  
Foreign Customers [Member]          
Accounts Receivable, Net, Current $ 4,142 $ 35,241 $ 4,142 $ 35,241  
Revenues 1,380,338 $ 1,252,881 2,757,769 $ 2,308,809  
Accounts Receivable, Net, Current $ 917,754   $ 917,754   $ 588,875
v3.5.0.2
Note 5 - Segment Information - Summary of Segment Information (Details) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Mar. 31, 2016
Chemical [Member]          
Revenue from external customers $ 363,364 $ 385,072 $ 654,848 $ 751,016  
Segment operating income 102,390 (141,767) 101,215 59,133  
Total assets 985,216   985,216   $ 1,070,944
Electronics [Member]          
Revenue from external customers 370,450 202,374 937,073 377,603  
Segment operating income 98,388 (62,222) 378,958 (46,554)  
Total assets 1,409,822   1,409,822   644,189
Engineering [Member]          
Revenue from external customers 646,524 665,435 1,165,848 1,180,190  
Segment operating income 227,685 (143,926) 469,334 74,050  
Total assets 1,754,016   1,754,016   1,707,413
Revenue from external customers 1,380,338 1,252,881 2,757,769 2,308,809  
Segment operating income 428,463 $ (347,915) 949,507 $ 86,629  
Total assets $ 4,149,054   $ 4,149,054   $ 3,422,546
v3.5.0.2
Note 6 - Options Outstanding (Details Textual) - USD ($)
6 Months Ended
Sep. 02, 2015
Sep. 30, 2015
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%  
v3.5.0.2
Note 6 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares
6 Months Ended
Sep. 02, 2015
Sep. 30, 2016
Sep. 30, 2015
Outstanding, beginning of period (in shares)   3,000,000 600,000
Outstanding, beginning of period (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)  
Expired (in dollars per share)  
Outstanding, end of period (in shares)   3,000,000 3,600,000
Outstanding, end of period (in dollars per share)   $ 0.20 $ 0.17
Exercisable, end of period (in shares)   3,000,000 3,600,000
Exercisable, end of period (in dollars per share)   $ 0.20 $ 0.17
v3.5.0.2
Note 7 - Commitments and Contingencies (Details Textual) - USD ($)
6 Months Ended
Aug. 21, 2008
Sep. 30, 2016
Sep. 30, 2015
Notes Payable to Banks [Member]      
Debt Instrument, Basis Spread on Variable Rate 2.00%    
Debt Instrument, Interest Rate During Period   2.15% 2.15%
Operating Leases, Rent Expense   $ 63,000 $ 63,000
Debt Instrument, Face Amount $ 200,000    
v3.5.0.2
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details)
Sep. 30, 2016
USD ($)
2017 $ 104,625
2018 78,469
Total $ 183,094
v3.5.0.2
Note 8 - Income Taxes (Details Textual)
6 Months Ended
Sep. 30, 2016
USD ($)
Operating Loss Carryforwards $ 2,566,000
Operating Loss Carry-Forward, Amount Utilized 692,000
Operating Loss Carry-Forward, Expected Utilization Amount 2,100,000
Deferred Income Taxes and Tax Credits $ 380,000
v3.5.0.2
Note 9 - Due to Shareholder (Details Textual)
Sep. 30, 2016
USD ($)
Deferred Compensation Liability, Interest Accrued $ 0