Note 8 - Investments in Securities

6 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

8. Investments in Securities

The Company adopted ASU

2016

-

01

as of

April 1, 2018.

As a result of adoption of this guidance, the Company now recognizes changes in fair value of these securities in the Consolidated Statement of Income (Loss).

At

September 30, 2018,

the Company had a gross unrealized gains aggregating

$75,000

and gross unrealized losses aggregating

$193,000,

which is included in the Consolidated Statement of Income (Loss).

All investments in marketable securities are priced using publicly quoted market prices and are considered Level

1

fair value measurements.

In

June 2018,

the Company invested

$2,000,000

in a quota share reinsurance program in the form of participating notes. The investment period is

3

years; subject to early redemption if applicable. The investment is reported at amortized cost of

$2,000,000

at

September 30, 2018.