• Filing Date: 2017-08-21
  • Form Type: 10-Q
  • Description: Quarterly report
v3.7.0.1
Document And Entity Information - shares
3 Months Ended
Jun. 30, 2017
Aug. 21, 2017
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)   67,588,492
Document Type 10-Q  
Document Period End Date Jun. 30, 2017  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.7.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2017
Mar. 31, 2017
ASSETS    
Cash and cash equivalents $ 1,750,323 $ 1,982,276
Accounts receivable, net of allowance for doubtful accounts of $25,000 1,028,234 862,619
Inventories 486,649 369,796
Prepaid expenses and other current assets 18,505 35,752
Total current assets 3,283,711 3,250,443
Property and equipment, net of accumulated depreciation of $43,436 and $32,562, respectively 160,124 170,998
Inventories - long-term portion 20,331 56,611
Intangible assets, net of accumulated amortization of $9,593 and $9,244, respectively 11,341 11,690
Other assets 92,644 104,907
Deferred tax asset 851,000 926,000
Total other assets 1,135,440 1,270,206
Total assets 4,419,151 4,520,649
LIABILITIES AND STOCKHOLDERS' EQUITY    
Capital lease payable 31,196 30,895
Accounts payable 175,183 269,007
Accrued expenses and other current liabilities 141,770 148,731
Customer deposits 125,142 125,142
Due to stockholder 107,699 195,562
Total current liabilities 580,990 769,337
Capital lease payable, net of current portion 78,778 83,812
Total liabilities 659,768 853,149
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, 67,588,492 shares issued and outstanding 33,794 33,794
Additional paid-in capital 33,294,069 33,294,069
Accumulated deficit (29,568,480) (29,660,363)
Total stockholders' equity 3,759,383 3,667,500
Total liabilities and stockholders' equity $ 4,419,151 $ 4,520,649
v3.7.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)
Jun. 30, 2017
Mar. 31, 2017
Allowance for doubtful accounts $ 25,000 $ 25,000
Property and equipment, accumulated depreciation 43,436 32,562
Intangible assets, accumulated amortization $ 9,593 $ 9,244
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, shares authorized (in shares) 5,000,000 5,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.0005 $ 0.0005
Common stock, shares authorized (in shares) 150,000,000 150,000,000
Common stock, shares issued (in shares) 67,588,492 67,588,492
Common stock, shares outstanding (in shares) 67,588,492 67,588,492
v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net revenues $ 1,146,355 $ 1,377,431
Cost of sales 456,545 508,324
Gross Profit 689,810 869,107
Operating expenses:    
Research and development 149,957 20,401
Selling, general and administrative 364,371 326,210
Depreciation and amortization 7,491 1,452
Total operating expenses 521,819 348,063
Income from operations 167,991 521,044
Other income (expense):    
Interest income 1,620 698
Interest expense (728) (512)
Total other income (expense) 892 186
Income before provision for income taxes 168,883 521,230
Provision for income taxes:    
Current 2,000
Deferred 75,000
Total provision for income taxes 77,000
Net income $ 91,883 $ 521,230
Basic and diluted earnings per common share: (in dollars per share) $ 0 $ 0.01
Weighted average shares of common stock outstanding - basic (in shares) 67,588,492 67,008,502
Weighted average shares of common stock outstanding - diluted (in shares) 67,588,492 67,008,502
v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 91,883 $ 521,230
Depreciation and amortization 11,223 2,410
Deferred taxes 75,000
Changes in operating assets and liabilities balances:    
Accounts receivable (165,615) (95,760)
Inventories (80,573) (80,712)
Prepaid expenses and other current assets 29,511 (9,717)
Accounts payable (93,824) (78,699)
Accrued expenses and other current liabilities (6,962) 64,418
Due to shareholder (87,863) 14,256
Net cash provided by (used in) operating activities (227,220) 337,426
Cash flows from investing activities:    
Purchase of equipment (4,970)
Restricted cash (87)
Net cash provided by (used in) investing activities (5,057)
Cash flows (used) in financing activities:    
Repayments on notes payable (6,000)
Repayments on capital lease payable (4,733)
Net cash (used in) financing activities (4,733) (6,000)
Net (decrease) increase in cash and cash equivalents (231,953) 326,369
Cash and cash equivalents - beginning of period 1,982,276 1,398,848
Cash and cash equivalents - end of period 1,750,323 1,725,217
Cash paid for:    
Interest $ 728 $ 512
v3.7.0.1
Note 1 - Nature of Business
3 Months Ended
Jun. 30, 2017
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 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
-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, 2017
as disclosed in our annual report on Form
10
-K for that year. The operating results and cash flows for
three
months ended
June 30, 2017 (
unaudited) are
not
necessarily indicative of the results to be expected for the pending full year ending
March 31, 2018.
v3.7.0.1
Note 2 - Significant Accounting Policies
3 Months Ended
Jun. 30, 2017
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 wholly owned subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation.
 
USE OF ESTIMATES
 
These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our medical devices, reserves, deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others, option and warrant expenses related to compensation to employees and directors, consultants and investment banks, allowance for doubtful accounts, and warranty reserves. Actual results could differ from those estimates.  
 
REVENUE RECOGNITION
 
CHEMICAL PRODUCTS:
 
Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when
no
right of return exists.
 
ELECTRONICS: 
 
We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited
90
-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
months ended
June 30, 2017
and
2016.
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
 
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
and
$0.01
for the
three
months ended
June 30, 2017
and
2016,
respectively. There were
3,000,000
and
3,600,000
common stock equivalents at
June 30, 2017
and
2016,
respectively.
 
RECLASSIFICATION
 
Certain items in the prior financial statements have been reclassified to conform to the current period presentation.
 
RECENT ACCOUNTING PRONOUNCEMENTS
 
Management is still evaluating the impact of recently issued, but
not
yet effective accounting pronouncements, if adopted. The effects of the standards on the Company’s consolidated financial statements are
not
known at this time.  
v3.7.0.1
Note 3 - Inventories
3 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Inventory Disclosure [Text Block]
NOTE
3
- INVENTORIES
     
 
Inventories at
June 30, 2017
consisted of the following:
 
 
 
 
 
   
Current
   
Long Term
   
Total
 
Raw materials
  $
479,875
    $
20,331
    $
500,206
 
Finished goods
   
6,774
     
-
     
6,774
 
    $
486,649
    $
20,331
    $
506,980
 
 
Inventories at
March 31, 2017
consisted of the following:
 
 
 
 
 
   
Current
   
Long Term
   
Total
 
Raw materials
  $
338,443
    $
56,611
    $
395,054
 
Finished goods
   
31,353
     
-
     
31,353
 
    $
369,796
    $
56,611
    $
426,407
 
 
The Company values its inventories at the
first
in,
first
out ("FIFO") method at the lower of cost or market.
v3.7.0.1
Note 4 - Concentrations
3 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]
NOTE 
4
– CONCENTRATIONS
 
During the
three
-month period ended
June 30, 2017,
two
customers accounted for
60%
of our net revenue.
During the
three
-month period ended
June 30, 2016,
one
customer accounted for
57%
of our net revenue.
 
As of 
June 30, 2017,
one
customer represented
78%
of our accounts receivable.
 
As of
March 31, 2017,
one
customer represented
83%
of our accounts receivable.
 
The Company’s customer base is comprised of foreign and domestic entities with diverse demographics. Revenues from foreign customers represented
$68,381
of net revenue or
6.0%
for the
three
months ended
June 30, 2017
and
$88,849
of net revenue or
6.4%
for the
three
months ended
June 30, 2016.
 
As of
June 30, 2017,
and
March 31, 2017,
accounts receivable included 
$1,690
and
$48,213,
respectively, from foreign customers.
v3.7.0.1
Note 5 - Segment Information
3 Months Ended
Jun. 30, 2017
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 June 30, 2017
                               
Revenue from external customers
  $
308,355
    $
493,592
    $
344,408
    $
1,146,355
 
Segment operating income
  $
65,446
    $
42,646
    $
59,899
    $
167,991
 
                                 
Three months ended June 30, 2016
                               
Revenue from external customers
  $
291,484
    $
566,623
    $
519,324
    $
1,377,431
 
Segment operating income
  $
(1,009
)   $
280,107
    $
241,946
    $
521,044
 
                                 
                                 
Total assets at June 30, 2017
  $
1,188,698
    $
1,902,775
    $
1,327,678
    $
4,419,151
 
                                 
Total assets at March 31, 2017
  $
1,110,111
    $
1,553,484
    $
1,857,054
    $
4,520,649
 
v3.7.0.1
Note 6 - Options Outstanding
3 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE 
6
 - OPTIONS OUTSTANDING
 
 
On
September 2, 2015,
ADM granted
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 for the periods ended
June 30, 2017
and
March 31, 2017.
 
 
   
June 30, 2017
   
March 31, 2017
 
   
# of Shares
   
Weighted
Average
Exercise
Price
   
# of Shares
   
Weighted
Average
Exercise
Price
 
                                 
Outstanding, beginning of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Issued
   
-
    $
-
     
-
    $
-
 
                                 
Exercised
   
-
    $
-
     
-
    $
-
 
                                 
Expired
   
-
    $
-
     
-
    $
-
 
                                 
Outstanding, end of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Exercisable, end of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
v3.7.0.1
Note 7 - Commitments and Contingencies
3 Months Ended
Jun. 30, 2017
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
June 30, 2017
is as follows: 
 
 
For the twelve months ended June 30,
 
 
Period
 
Per year
 
  2018
  $
104,625
 
         
    $
104,625
 
 
Rent and real estate tax expense for all facilities for the
three
months ended
June 30, 2017
and
2016
was approximately
$32,000
for each period. 
 
On
December 2, 2016,
the Company entered into a capital lease agreement with a commercial bank in the amount of
$85,680,
including
$6,930
in deferred interest, for the purchase of certain property and equipment. The lease has a term of
forty-eight
(
48
) months and is payable in
forty-eight
equal installments of
$1,785.
The balance of this obligation as of
June 30, 2017,
was
$67,266.
 
On
December 2, 2016,
the Company entered into a capital lease agreement with a commercial bank in the amount of
$54,710,
including
$4,710
in deferred interest, for the purchase of certain property and equipment. The lease has a term of
forty-eight
(
48
) months and is payable in
forty-eight
equal installments of
$1,139.
The balance of this obligation as of
June 30, 2017,
was
$42,708.
v3.7.0.1
Note 8 - Income Taxes
3 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE 
8
 - INCOME TAXES
 
At
June 30, 2017,
the Company had federal and state net operating loss carry-forwards ("NOL")'s of approximately
$2,101,000,
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.
 
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
months ended
June 30, 2017,
the Company utilized approximately
$187,000
in net operating losses and expects to utilize the entire
$2,101,000
before expiration.
 
The effective rates were approximately
41%
and (
6%
) for the
three
months ended
June 30, 2017
and
2016,
respectively. The
2016
tax rates were favorably impacted relative to the statutory rate by a decrease in the valuation allowance related to the estimated net operating loss carry-forward utilization.
v3.7.0.1
Note 9 - Due to Stockholder
3 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Compensation Related Costs, General [Text Block]
NOTE 
9
 – 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
repayment terms or interest accruing on this liability.
v3.7.0.1
Note 10 - Subsequent Events
3 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
NOTE
1
0
 – 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
events or transactions occurring during the subsequent event reporting period which require recognition or disclosure in the condensed consolidated financial statements. 
v3.7.0.1
Significant Accounting Policies (Policies)
3 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]
PRINCIPLES OF CONSOLIDATION
 
The condensed consolidated financial statements include the accounts of ADM Tronics Unlimited, Inc. and its wholly owned subsidiary Sonotron. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]
USE OF ESTIMATES
 
These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America and, accordingly, require management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosures of contingent assets and liabilities. Significant estimates made by management include expected economic life and value of our medical devices, reserves, deferred tax assets, valuation allowance, impairment of long lived assets, fair value of equity instruments issued to consultants for services and fair value of equity instruments issued to others, option and warrant expenses related to compensation to employees and directors, consultants and investment banks, allowance for doubtful accounts, and warranty reserves. Actual results could differ from those estimates.  
Revenue Recognition, Policy [Policy Text Block]
REVENUE RECOGNITION
 
CHEMICAL PRODUCTS:
 
Revenues are recognized when products are shipped to end users. Shipments to distributors are recognized as revenue when
no
right of return exists.
 
ELECTRONICS: 
 
We recognize revenue from the sale of our electronic products when they are shipped to the purchaser. We offer a limited
90
-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
months ended
June 30, 2017
and
2016.
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]
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
and
$0.01
for the
three
months ended
June 30, 2017
and
2016,
respectively. There were
3,000,000
and
3,600,000
common stock equivalents at
June 30, 2017
and
2016,
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 is still evaluating the impact of recently issued, but
not
yet effective accounting pronouncements, if adopted. The effects of the standards on the Company’s consolidated financial statements are
not
known at this time.  
v3.7.0.1
Note 3 - Inventories (Tables)
3 Months Ended
Jun. 30, 2017
Notes Tables  
Schedule Of Inventory [Table Text Block]
   
Current
   
Long Term
   
Total
 
Raw materials
  $
479,875
    $
20,331
    $
500,206
 
Finished goods
   
6,774
     
-
     
6,774
 
    $
486,649
    $
20,331
    $
506,980
 
   
Current
   
Long Term
   
Total
 
Raw materials
  $
338,443
    $
56,611
    $
395,054
 
Finished goods
   
31,353
     
-
     
31,353
 
    $
369,796
    $
56,611
    $
426,407
 
v3.7.0.1
Note 5 - Segment Information (Tables)
3 Months Ended
Jun. 30, 2017
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
Chemical
   
Electronics
   
Engineering
   
Total
 
Three months ended June 30, 2017
                               
Revenue from external customers
  $
308,355
    $
493,592
    $
344,408
    $
1,146,355
 
Segment operating income
  $
65,446
    $
42,646
    $
59,899
    $
167,991
 
                                 
Three months ended June 30, 2016
                               
Revenue from external customers
  $
291,484
    $
566,623
    $
519,324
    $
1,377,431
 
Segment operating income
  $
(1,009
)   $
280,107
    $
241,946
    $
521,044
 
                                 
                                 
Total assets at June 30, 2017
  $
1,188,698
    $
1,902,775
    $
1,327,678
    $
4,419,151
 
                                 
Total assets at March 31, 2017
  $
1,110,111
    $
1,553,484
    $
1,857,054
    $
4,520,649
 
v3.7.0.1
Note 6 - Options Outstanding (Tables)
3 Months Ended
Jun. 30, 2017
Notes Tables  
Share-based Compensation, Stock Options, Activity [Table Text Block]
   
June 30, 2017
   
March 31, 2017
 
   
# of Shares
   
Weighted
Average
Exercise
Price
   
# of Shares
   
Weighted
Average
Exercise
Price
 
                                 
Outstanding, beginning of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Issued
   
-
    $
-
     
-
    $
-
 
                                 
Exercised
   
-
    $
-
     
-
    $
-
 
                                 
Expired
   
-
    $
-
     
-
    $
-
 
                                 
Outstanding, end of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Exercisable, end of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
v3.7.0.1
Note 7 - Commitments and Contingencies (Tables)
3 Months Ended
Jun. 30, 2017
Notes Tables  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
For the twelve months ended June 30,
 
 
Period
 
Per year
 
  2018
  $
104,625
 
         
    $
104,625
 
v3.7.0.1
Note 2 - Significant Accounting Policies (Details Textual) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Earnings Per Share, Basic and Diluted $ 0 $ 0.01
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 3,000,000 3,600,000
Maximum [Member]    
Product Warranty Expense $ 2,000 $ 2,000
Electronic Products [Member]    
Warranty Term 90 days  
Electronic Controllers for Spas and Hot Tubs [Member]    
Warranty Term 5 years  
v3.7.0.1
Note 3 - Inventories - Summary of Inventory (Details) - USD ($)
Jun. 30, 2017
Mar. 31, 2017
Raw materials $ 500,206 $ 395,054
Finished Goods 6,774 31,353
Total 506,980 426,407
Current [Member]    
Raw materials 479,875 338,443
Finished Goods 6,774 31,353
Total 486,649 369,796
Long Term [Member    
Raw materials 20,331 56,611
Finished Goods
Total $ 20,331 $ 56,611
v3.7.0.1
Note 4 - Concentrations (Details Textual)
3 Months Ended 12 Months Ended
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Mar. 31, 2016
Mar. 31, 2017
USD ($)
Revenues $ 1,146,355 $ 1,377,431    
Accounts Receivable, Net, Current 1,028,234     $ 862,619
Foreign Customers [Member]        
Accounts Receivable, Net, Current $ 1,690     $ 48,213
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]        
Concentration Risk, Number of Customers 2 1    
Concentration Risk, Percentage 60.00% 57.00%    
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Customers [Member]        
Concentration Risk, Percentage 6.00% 6.40%    
Revenues $ 68,381 $ 88,849    
Customer Concentration Risk [Member] | Accounts Receivable [Member]        
Concentration Risk, Number of Customers 1   1  
Concentration Risk, Percentage 78.00%   83.00%  
v3.7.0.1
Note 5 - Segment Information - Summary of Segment Information (Details) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Mar. 31, 2017
Revenues $ 1,146,355 $ 1,377,431  
Segment operating income 167,991 521,044  
Total assets 4,419,151   $ 4,520,649
Chemical [Member]      
Revenues 308,355 291,484  
Segment operating income 65,446 (1,009)  
Total assets 1,188,698   1,110,111
Electronics [Member]      
Revenues 493,592 566,623  
Segment operating income 42,646 280,107  
Total assets 1,902,775   1,553,484
Engineering [Member]      
Revenues 344,408 519,324  
Segment operating income 59,899 $ 241,946  
Total assets $ 1,327,678   $ 1,857,054
v3.7.0.1
Note 6 - Options Outstanding (Details Textual) - USD ($)
3 Months Ended 12 Months Ended
Sep. 02, 2015
Jun. 30, 2017
Mar. 31, 2017
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, 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%    
v3.7.0.1
Note 6 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares
3 Months Ended 12 Months Ended
Sep. 02, 2015
Jun. 30, 2017
Mar. 31, 2017
Outstanding, beginning of period (in shares)   3,000,000 3,000,000
Outstanding, beginning of period (in dollars per share)   $ 0.20 $ 0.20
Outstanding, end of period (in dollars per share)   $ 0.20 $ 0.20
Exercisable, end of period (in shares)   3,000,000 3,000,000
Exercisable, end of period (in dollars per share)   $ 0.20 $ 0.20
Issued (in dollars per share) $ 0.20
Issued (in shares) 3,000,000
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 3,000,000
v3.7.0.1
Note 7 - Commitments and Contingencies (Details Textual)
3 Months Ended
Dec. 02, 2016
USD ($)
Jun. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
Operating Leases, Rent Expense   $ 32,000 $ 32,000
Capital Lease Agreement One [Member]      
Debt Instrument, Periodic Payment $ 1,785    
Capital Lease Obligations   67,266  
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    
Capital Lease Agreement Two [Member]      
Debt Instrument, Periodic Payment $ 1,139    
Capital Lease Obligations   $ 42,708  
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    
v3.7.0.1
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details)
Jun. 30, 2017
USD ($)
2018 $ 104,625
Total $ 104,625
v3.7.0.1
Note 8 - Income Taxes (Details Textual) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating Loss Carryforwards $ 2,101,000  
Operating Loss Carry-Forward, Amount Utilized 187,000  
Operating Loss Carry-Forward, Expected Utilization Amount $ 2,101,000  
Effective Income Tax Rate Reconciliation, Percent 41.00% (6.00%)
v3.7.0.1
Note 9 - Due to Stockholder (Details Textual)
$ in Thousands
Dec. 31, 2016
USD ($)
Deferred Compensation Liability, Interest Accrued $ 0