Condensed Consolidated Balance Sheets (As Restated) (Current Period Unaudited) - USD ($)	Jun. 30, 2016	Mar. 31, 2016	[1]
Current Assets:
Cash and cash equivalents (Delphax $495,668 and $249,528)**	$ 3,969,976	$ 5,345,455
Marketable securities	4,780,300	4,944,572
Restricted cash	824,062	820,651
Accounts receivable, less allowance for doubtful accounts of $355,000 and $426,000 (Delphax $1,460,541 and $1,433,494)**	11,230,664	12,303,128
Notes and other receivables-current	1,056,929	592,721
Income tax receivable	1,136,720	719,899
Inventories (Delphax $2,834,609 and $4,642,298)**	15,199,716	12,274,104
Deferred income taxes	155,279	291,000
Prepaid expenses and other (Delphax $665,481 and $1,034,067)**	1,192,794	1,668,004
Total Current Assets	39,546,440	38,959,534
Investments in Available-For-Sale Securities	3,603,764	4,711,343
Property and Equipment, Net (Delphax $66,605 and $625,684)**	4,813,305	4,577,774
Cash Surrender Value of Life Insurance Policies	2,118,628	2,100,057
Notes and Other Receivables - Long Term		103,996
Other Assets (Delphax $0 and $26,020)**	291,818	317,528
Intangible Assets, Net (Delphax $0 and $1,109,112)**		1,109,112
Goodwill (Delphax $0 and $275,408)**		275,408
Total Assets	50,373,955	52,154,752
Current Liabilities:
Accounts payable (Delphax $2,672,207 and $1,684,802)**	8,896,453	7,003,660
Income tax payable (Delphax $11,312 and $11,312)**		11,312
Accrued expenses (Delphax $4,409,633 and $1,926,340)**	8,035,357	6,842,874
Short-term debt (Delphax $2,177,827 and $1,859,300)**	2,177,827	1,859,300
Total Current Liabilities	19,109,637	15,717,146
Long-Term Debt	3,320,701	4,835
Deferred Income Taxes	546,000	546,000
Other Non-current Liabilities	24,498	615,241
Commitments and Contingencies (Notes 8 and 12)
Equity:
Preferred stock, $1.00 par value, 50,000 shares authorized	0	0
Common stock, $.25 par value; 4,000,000 shares authorized, 2,372,527 shares issued and outstanding	593,131	593,131
Additional paid-in capital	4,956,171	4,956,171
Retained earnings	23,070,354	28,821,825
Accumulated other comprehensive income (loss), net	(1,760)	(140,519)
Total Air T, Inc. Stockholders' Equity	28,617,896	34,230,608
Non-controlling interests	(1,244,777)	1,040,922
Total Equity	27,373,119	35,271,530
Total Liabilities and Equity	$ 50,373,955	$ 52,154,752

[1] Derived from audited financial statements