Note 5 - Cash Surrender Value of Life Insurance

6 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Life Insurance, Corporate or Bank Owned [Text Block]

5. Cash Surrender Value of Life Insurance

The Company is the beneficiary of corporate-owned life insurance policies on certain former employees with a net cash surrender value of approximately

$482,000

and

$2,357,000

at

September 30, 2018

and

March 31, 2018,

respectively.

In

September 2018,

the Company received proceeds of

$1.9

 million through loans against the cash value of its life insurance policies. The loan balance is recorded net against the cash surrender value of life insurance in the accompanying condensed consolidated balance sheet at

September 30, 2018.