Note 1A - Restatement of Previously Issued Consolidated Financial Statements (Tables)

3 Months Ended

Jun. 30, 2016

Notes Tables

Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]

	As Previously Reported			As Restated
Consolidated Balance Sheet Information (at June 30, 2016):
Additional paid-in capital	$	4,947,665		$	4,956,171
Retained earnings		25,674,678			23,070,354
Accumulated other comprehensive income (loss), net		66,309			(1,760	)
Total Air T, Inc. stockholders' equity		31,281,783			28,617,896
Non-controlling interests		(3,908,664	)		(1,244,777	)
Total equity		27,373,119			27,373,119
Total liabilities and equity		50,373,955			50,373,955
Consolidated Balance Sheet Information (at March 31, 2016):
Additional paid-in capital	$	4,947,665		$	4,956,171
Retained earnings		29,350,980			28,821,825
Accumulated other comprehensive income (loss), net		(117,898	)		(140,519	)
Total Air T, Inc. stockholders' equity		34,773,878			34,230,608
Non-controlling interests		497,652			1,040,922
Total equity		35,271,530			35,271,530
Total liabilities and equity		52,154,752			52,154,752
Consolidated Statement of Income (Loss):
Net loss attributable to non-controlling interests	$	4,313,078		$	2,237,909
Net loss attributable to Air T, Inc. stockholders		(3,676,302	)		(5,751,471	)
Loss per share - basic		(1.55	)		(2.42	)
Loss per share - diluted		(1.55	)		(2.42	)
Consolidated Statement of Comprehensive Income:
Comprehensive loss attributable to non-controlling interests	$	4,406,316		$	2,285,699
Comprehensive loss attributable to Air T, Inc. stockholders		(3,492,095	)		(5,612,712	)