• Filing Date: 2018-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
Document And Entity Information - shares
9 Months Ended
Dec. 31, 2017
Feb. 14, 2018
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 Dec. 31, 2017  
Document Fiscal Year Focus 2018  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Dec. 31, 2017
Mar. 31, 2017
ASSETS    
Cash and cash equivalents $ 1,624,338 $ 1,982,276
Accounts receivable, net of allowance for doubtful accounts of $25,000 1,493,375 862,619
Inventories 500,946 369,796
Prepaid expenses and other current assets 16,533 35,752
Total current assets 3,635,192 3,250,443
Property and equipment, net of accumulated depreciation of $60,970 and $32,562, at December 31, 2017 and and March 31, 2017, respectively 142,590 170,998
Inventories - long-term portion 56,611 56,611
Intangible assets, net of accumulated amortization of $10,290 and $9,244, at December 31, 2017 and and March 31, 2017, respectively 10,643 11,690
Other assets 91,814 104,907
Deferred tax asset 537,000 926,000
Total other assets 838,658 1,270,206
Total assets 4,473,850 4,520,649
LIABILITIES AND STOCKHOLDERS' EQUITY    
Capital lease payable 31,196 30,895
Accounts payable 308,370 269,007
Accrued expenses and other current liabilities 137,782 148,731
Customer deposits 125,142 125,142
Due to stockholder 130,551 195,562
Total current liabilities 733,041 769,337
Capital lease payable, net of current portion 62,684 83,812
Total liabilities 795,725 853,149
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 (29,649,738) (29,660,363)
Total stockholders' equity 3,678,125 3,667,500
Total liabilities and stockholders' equity $ 4,473,850 $ 4,520,649
v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)
Dec. 31, 2017
Mar. 31, 2017
Allowance for doubtful accounts $ 25,000 $ 25,000
Property and equipment, accumulated depreciation 60,970 32,562
Intangible assets, accumulated amortization $ 10,290 $ 9,244
Preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Preferred stock, authorized (in shares) 5,000,000 5,000,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.0005 $ 0.0005
Common stock, authorized (in shares) 150,000,000 150,000,000
Common stock, issued (in shares) 67,588,492 67,588,492
Common stock, outstanding (in shares) 67,588,492 67,588,492
v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Net revenues $ 1,021,042 $ 1,156,512 $ 3,237,103 $ 3,914,281
Cost of sales 539,184 599,607 1,351,667 1,695,765
Gross profit 481,858 556,905 1,885,436 2,218,516
Operating expenses:        
Research and development 109,167 113,752 398,351 151,548
Selling, general and administrative 351,609 433,712 1,075,411 1,105,081
Stock based compensation 46,400 46,400
Depreciation and amortization 5,429 2,951 16,672 5,890
Total operating expenses 466,205 596,815 1,490,434 1,308,919
Income (loss) from operations 15,653 (39,910) 395,002 909,597
Other income (expense):        
Interest income 5,258 835 11,806 2,295
Interest and finance expenses (728) (3,546) (2,183) (4,389)
Total other income (expense) 4,530 (2,711) 9,623 (2,094)
Income (loss) before provision for income taxes 20,183 (42,621) 404,625 907,503
Provision for income taxes:        
Current 1,000 5,000
Deferred 235,000 389,000
Total provision for income taxes 236,000 394,000
Net (loss) income $ (215,817) $ (42,621) $ 10,625 $ 907,503
Basic and diluted earnings per common share: (in dollars per share) $ 0 $ 0 $ 0 $ 0.01
Weighted average shares of common stock outstanding - basic and diluted (in shares) 67,588,492 67,216,545 67,588,492 67,078,102
v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net income $ 10,625 $ 907,503
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 29,455 46,400
Stock based compensation 8,892
Deferred taxes 389,000
Changes in operating assets and liabilities balances:    
Accounts receivable (630,756) (712)
Inventories (131,150) (237,126)
Prepaid expenses and other current assets 32,312 (150,879)
Accounts payable 39,363 116,407
Accrued expenses and other current liabilities (10,949) (214,525)
Due to stockholder (65,011) 28,027
Net cash (used in) provided by operating activities (337,111) 503,987
Cash flows from investing activities:    
Purchase of property and equipment (8,070)
Restricted cash (224)
Net cash (used in) investing activities (8,294)
Cash flows (used in) financing activities:    
Repayments on notes payable (18,000)
Repayments on capital lease payable (20,827) (2,739)
Net cash (used in) financing activities (20,827) (20,739)
Net increase (decrease) in cash and cash equivalents (357,938) 474,954
Cash and cash equivalents - beginning of period 1,982,276 1,398,848
Cash and cash equivalents - end of period 1,624,338 1,873,802
Cash paid for:    
Interest 2,183 4,389
Non-cash investing activities    
Purchase of equipment with the assumption of capital lease obligation $ 128,807
v3.8.0.1
Note 1 - Nature of Business
9 Months Ended
Dec. 31, 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 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
and
nine
months ended
December 31, 2017 (
unaudited) are
not
necessarily indicative of the results to be expected for the pending full year ending
March 31, 2018.
v3.8.0.1
Note 2 - Significant Accounting Policies
9 Months Ended
Dec. 31, 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
 and
nine
months ended
December 31, 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
for both the
three
and
nine
months ended
December 31, 2017
and $(
0.00
) and
$0.01
for the
three
and
nine
months ended
December 31, 2016,
respectively. There were
3,000,000
common stock equivalents at
December 31, 2017
and
2016,
respectively.
 
RECENT ACCOUNTING PRONOUNCEMENTS
 
In
July 2015,
the FASB issued ASU
2015
-
11,
Inventory. Simplifying the Measurement of Inventory.” This amendment requires companies to measure inventory at the lower of cost and net realizable value. The Company adopted this amendment in
April
of
2017,
and the implementation did
not
have a material impact on the Company's financial statements.
 
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.  
v3.8.0.1
Note 3 - Inventories
9 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Inventory Disclosure [Text Block]
NOTE
3
- INVENTORIES
       
 
Inventories at
December 31, 2017
consisted of the following:
 
   
Current
   
Long Term
   
Total
 
Raw materials
  $
489,860
    $
56,611
    $
546,471
 
Finished goods
   
11,086
     
-
     
11,086
 
    $
500,946
    $
56,611
    $
557,557
 
 
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 lower of cost and net realizable value using the
first
in,
first
out method.
 
v3.8.0.1
Note 4 - Concentrations
9 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Concentration Risk Disclosure [Text Block]
 
NOTE 
4
– CONCENTRATIONS
 
During the
three
months ended
 
December 31, 2017
three
customers accounted for
52%
of our net revenue. During the
nine
months ended
December 31, 2017
three
customers accounted for
59%
of our net revenue.
 
During the
three
-month period ended
December 31, 2016,
one
customer accounted for
71%
of our net revenue.
 During the
nine
-month period ended
December 31, 2016,
one
customer accounted for
61%
of our net revenue
 
As of
December 31, 2017,
three
customers represented
90%
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. Net revenues from foreign customers for the
three
and
nine
months ended
December 31, 2017
was
$92,967
or
10%
and
$251,825
or
8%,
respectively.
 
Revenues from foreign customers represented
$48,750
of net revenue or
4.2%
for the
three
months ended
December 31, 2016.
Revenues from foreign customers represented
$602,405
of net revenue or
15.4%
for the
nine
months ended
December 31, 2016.
 
As of
 
December 31, 2017,
and
March 31, 2017,
accounts receivable included 
$1,902
and
$48,213,
respectively, from foreign customers.
v3.8.0.1
Note 5 - Segment Information
9 Months Ended
Dec. 31, 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 December 31, 2017
                               
Revenue from external customers
  $
432,803
    $
123,685
    $
464,554
    $
1,021,042
 
Segment operating income (loss)
  $
25,646
    $
22,111
    $
(32,104
)   $
15,653
 
                                 
Nine months ended December 31, 2017
                               
Revenue from external customers
  $
1,051,914
    $
960,442
    $
1,224,747
    $
3,237,103
 
Segment operating income
  $
88,622
    $
95,172
    $
211,208
    $
395,002
 
                                 
Three months ended December 31, 2016
                               
Revenue from external customers
  $
288,083
    $
410,784
    $
457,645
    $
1,156,512
 
Segment operating income (loss)
  $
27,225
    $
(9,544
)   $
(57,591
)   $
(39,910
)
                                 
Nine months ended December 31, 2016
                               
Revenue from external customers
  $
942,931
    $
1,347,857
    $
1,623,493
    $
3,914,281
 
Segment operating income
  $
128,440
    $
369,414
    $
411,743
    $
909,597
 
                                 
                                 
Total assets at December 31, 2017
  $
1,453,802
    $
1,327,382
    $
1,692,666
    $
4,473,850
 
                                 
Total assets at March 31, 2017
  $
1,110,111
    $
1,553,484
    $
1,857,054
    $
4,520,649
 
v3.8.0.1
Note 6 - Options Outstanding
9 Months Ended
Dec. 31, 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
 
December 31, 2017
and
March 31, 2017.
 
 
   
December 31, 2017
   
March 31, 2017
 
   
# of Shares
   
Weighted Average Exercise Price
   
# of Shares
   
Weighted Average Exercise Price
 
                                 
Outstanding, beginning of year 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
 
v3.8.0.1
Note 7 - Commitments and Contingencies
9 Months Ended
Dec. 31, 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,
201
8.
The Company’s future minimum lease commitment at
December 31, 2017
is as follows: 
 
For the twelve-month period ending December 31,
 
Amount
 
2018
  $
52,313
 
    $
52,313
 
 
Rent and real estate tax expense for all facilities for the
three
 and
nine
months ended
December 31, 2017
and
2016
was approximately
$28,000
and
$96,000
,
respectively. 
 
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
 
December 31, 2017,
was
$57,422.
 
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
 
December 31, 2017,
was
$36,458
 
v3.8.0.1
Note 8 - Income Taxes
9 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Income Tax Disclosure [Text Block]
NOTE
 
8
 - INCOME TAXES
 
At
 
December 31, 2017,
the Company had federal net operating loss carry-forwards ("NOL")'s of approximately
$1,881,000,
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 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
nine
months ended
December 31, 2017,
the Company utilized approximately
$407,000
in net operating losses and expects to utilize the entire
$1,881,000
before expiration.
 
The effective rates were approximately
97%
and
0%
for the
 
three
and
nine
months ended
December 31, 2017
and
2016,
respectively.
 
The Tax cuts and Job Acts, enacted on
December 22, 2017,
among other provisions, reduces the top corporate tax rate from
35%
to a flat
21%
and eliminates the Corporate Alternative Minimum Tax for tax years
beginning after
January 1, 2018.
This new law change necessitated a discrete adjustment to reduce the deferred income tax asset by 
$227,000.
v3.8.0.1
Note 9 - Due to Stockholder
9 Months Ended
Dec. 31, 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.
v3.8.0.1
Note 10 - Subsequent Events
9 Months Ended
Dec. 31, 2017
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
 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. 
v3.8.0.1
Significant Accounting Policies (Policies)
9 Months Ended
Dec. 31, 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
 and
nine
months ended
December 31, 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
for both the
three
and
nine
months ended
December 31, 2017
and $(
0.00
) and
$0.01
for the
three
and
nine
months ended
December 31, 2016,
respectively. There were
3,000,000
common stock equivalents at
December 31, 2017
and
2016,
respectively.
New Accounting Pronouncements, Policy [Policy Text Block]
RECENT ACCOUNTING PRONOUNCEMENTS
 
In
July 2015,
the FASB issued ASU
2015
-
11,
Inventory. Simplifying the Measurement of Inventory.” This amendment requires companies to measure inventory at the lower of cost and net realizable value. The Company adopted this amendment in
April
of
2017,
and the implementation did
not
have a material impact on the Company's financial statements.
 
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.  
v3.8.0.1
Note 3 - Inventories (Tables)
9 Months Ended
Dec. 31, 2017
Notes Tables  
Schedule Of Inventory [Table Text Block]
   
Current
   
Long Term
   
Total
 
Raw materials
  $
489,860
    $
56,611
    $
546,471
 
Finished goods
   
11,086
     
-
     
11,086
 
    $
500,946
    $
56,611
    $
557,557
 
   
Current
   
Long Term
   
Total
 
Raw materials
  $
338,443
    $
56,611
    $
395,054
 
Finished goods
   
31,353
     
-
     
31,353
 
    $
369,796
    $
56,611
    $
426,407
 
v3.8.0.1
Note 5 - Segment Information (Tables)
9 Months Ended
Dec. 31, 2017
Notes Tables  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
   
Chemical
   
Electronics
   
Engineering
   
Total
 
Three months ended December 31, 2017
                               
Revenue from external customers
  $
432,803
    $
123,685
    $
464,554
    $
1,021,042
 
Segment operating income (loss)
  $
25,646
    $
22,111
    $
(32,104
)   $
15,653
 
                                 
Nine months ended December 31, 2017
                               
Revenue from external customers
  $
1,051,914
    $
960,442
    $
1,224,747
    $
3,237,103
 
Segment operating income
  $
88,622
    $
95,172
    $
211,208
    $
395,002
 
                                 
Three months ended December 31, 2016
                               
Revenue from external customers
  $
288,083
    $
410,784
    $
457,645
    $
1,156,512
 
Segment operating income (loss)
  $
27,225
    $
(9,544
)   $
(57,591
)   $
(39,910
)
                                 
Nine months ended December 31, 2016
                               
Revenue from external customers
  $
942,931
    $
1,347,857
    $
1,623,493
    $
3,914,281
 
Segment operating income
  $
128,440
    $
369,414
    $
411,743
    $
909,597
 
                                 
                                 
Total assets at December 31, 2017
  $
1,453,802
    $
1,327,382
    $
1,692,666
    $
4,473,850
 
                                 
Total assets at March 31, 2017
  $
1,110,111
    $
1,553,484
    $
1,857,054
    $
4,520,649
 
v3.8.0.1
Note 6 - Options Outstanding (Tables)
9 Months Ended
Dec. 31, 2017
Notes Tables  
Share-based Compensation, Stock Options, Activity [Table Text Block]
   
December 31, 2017
   
March 31, 2017
 
   
# of Shares
   
Weighted Average Exercise Price
   
# of Shares
   
Weighted Average Exercise Price
 
                                 
Outstanding, beginning of year 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
 
v3.8.0.1
Note 7 - Commitments and Contingencies (Tables)
9 Months Ended
Dec. 31, 2017
Notes Tables  
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]
For the twelve-month period ending December 31,
 
Amount
 
2018
  $
52,313
 
    $
52,313
 
v3.8.0.1
Note 2 - Significant Accounting Policies (Details Textual) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Earnings Per Share, Basic and Diluted $ 0 $ 0 $ 0 $ 0.01
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount     3,000,000 3,000,000
Maximum [Member]        
Product Warranty Expense $ 2,000 $ 2,000 $ 2,000 $ 2,000
Electronic Products [Member]        
Warranty Term     90 days  
Electronic Controllers for Spas and Hot Tubs [Member]        
Warranty Term     5 years  
v3.8.0.1
Note 3 - Inventories - Summary of Inventory (Details) - USD ($)
Dec. 31, 2017
Mar. 31, 2017
Raw materials $ 546,471 $ 395,054
Finished goods 11,086 31,353
557,557 426,407
Current [Member]    
Raw materials 489,860 338,443
Finished goods 11,086 31,353
500,946 369,796
Long Term [Member    
Raw materials 56,611 56,611
Finished goods
$ 56,611 $ 56,611
v3.8.0.1
Note 4 - Concentrations (Details Textual)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Mar. 31, 2017
USD ($)
Revenues $ 1,021,042 $ 1,156,512 $ 3,237,103 $ 3,914,281  
Accounts Receivable, Net, Current 1,493,375   1,493,375   $ 862,619
Foreign Customers [Member]          
Accounts Receivable, Net, Current $ 1,902   $ 1,902   $ 48,213
Customer Concentration Risk [Member] | Sales Revenue, Net [Member]          
Concentration Risk, Number of Customers 3 1 3 1  
Concentration Risk, Percentage 52.00% 71.00% 59.00% 61.00%  
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Foreign Customers [Member]          
Concentration Risk, Percentage 10.00% 4.20% 8.00% 15.40%  
Revenues $ 92,967 $ 48,750 $ 251,825 $ 602,405  
Customer Concentration Risk [Member] | Accounts Receivable [Member]          
Concentration Risk, Number of Customers     3   1
Concentration Risk, Percentage     90.00%   83.00%
v3.8.0.1
Note 5 - Segment Information - Summary of Segment Information (Details) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Mar. 31, 2017
Revenues $ 1,021,042 $ 1,156,512 $ 3,237,103 $ 3,914,281  
Segment operating income (loss) 15,653 (39,910) 395,002 909,597  
Total assets 4,473,850   4,473,850   $ 4,520,649
Chemical [Member]          
Revenues 432,803 288,083 1,051,914 942,931  
Segment operating income (loss) 25,646 27,225 88,622 128,440  
Total assets 1,453,802   1,453,802   1,110,111
Electronics [Member]          
Revenues 123,685 410,784 960,442 1,347,857  
Segment operating income (loss) 22,111 (9,544) 95,172 369,414  
Total assets 1,327,382   1,327,382   1,553,484
Engineering [Member]          
Revenues 464,554 457,645 1,224,747 1,623,493  
Segment operating income (loss) (32,104) $ (57,591) 211,208 $ 411,743  
Total assets $ 1,692,666   $ 1,692,666   $ 1,857,054
v3.8.0.1
Note 6 - Options Outstanding (Details Textual) - USD ($)
9 Months Ended 12 Months Ended
Sep. 02, 2015
Dec. 31, 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%    
v3.8.0.1
Note 6 - Options Outstanding - Summary of Stock Option Activity (Details) - $ / shares
9 Months Ended 12 Months Ended
Sep. 02, 2015
Dec. 31, 2017
Mar. 31, 2017
Dec. 31, 2017
Mar. 31, 2017
Outstanding, beginning of year period (in shares)   3,000,000 3,000,000 3,000,000 3,000,000
Outstanding, beginning of year period (in dollars per share)   $ 0.20 $ 0.20 $ 0.20 $ 0.20
Issued (in shares) 3,000,000    
Issued (in dollars per share) $ 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 3,000,000    
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
v3.8.0.1
Note 7 - Commitments and Contingencies (Details Textual)
3 Months Ended 9 Months Ended
Dec. 02, 2016
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Operating Leases, Rent Expense   $ 28,000 $ 28,000 $ 96,000 $ 96,000
Capital Lease Agreement One [Member]          
Capital Lease Obligations, Gross $ 85,680        
Capital Lease Obligations, Deferred Interest $ 6,930        
Debt Instrument, Term 48 years        
Capital Lease Obligations, Number of Installments 48        
Debt Instrument, Periodic Payment $ 1,785        
Capital Lease Obligations 57,422        
Capital Lease Agreement Two [Member]          
Capital Lease Obligations, Gross 54,710        
Capital Lease Obligations, Deferred Interest $ 4,710        
Debt Instrument, Term 48 years        
Capital Lease Obligations, Number of Installments 48        
Debt Instrument, Periodic Payment $ 1,139        
Capital Lease Obligations $ 36,458        
v3.8.0.1
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details)
Dec. 31, 2017
USD ($)
2018 $ 52,313
$ 52,313
v3.8.0.1
Note 8 - Income Taxes (Details Textual) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 22, 2017
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2018
Operating Loss Carryforwards   $ 1,881,000   $ 1,881,000    
Operating Loss Carry-Forward, Amount Utilized       407,000    
Operating Loss Carry-Forward, Expected Utilization Amount       $ 1,881,000    
Effective Income Tax Rate Reconciliation, Percent   97.00% 0.00% 97.00% 0.00%  
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 35.00%          
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability $ 227,000          
Scenario, Forecast [Member]            
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent           21.00%
v3.8.0.1
Note 9 - Due to Stockholder (Details Textual)
$ in Thousands
Dec. 31, 2017
USD ($)
Deferred Compensation Liability, Interest Accrued $ 0