Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)		Sep. 30, 2018	Mar. 31, 2018
Current Assets:
Cash and cash equivalents (Delphax $314,481 and $241,430)**	[1]	$ 5,612,472	$ 4,803,238
Marketable securities		2,341,786	290,449
Restricted cash		18,865	269,659
Restricted investments		1,062,239	1,235,405
Accounts receivable	[1]	18,634,629	15,157,855
Costs and estimated earnings in excess of billings on uncompleted projects			2,012,121
Income tax receivable		2,109,543	1,557,180
Inventories, net		29,450,138	34,231,005
Other current assets		3,393,812	658,630
Prepaid expenses	[1]	1,919,611	1,455,566
Total Current Assets		64,543,095	61,671,108
Investments in securities		3,045,435	1,026,920
Property and equipment, net of accumulated depreciation of $8,749,057 and $6,347,253		37,071,213	20,273,171
Cash surrender value of life insurance policies, net of policy loans		481,764	2,356,507
Other tax receivables-long-term (Delphax $311,000 and $311,000)**		311,000	311,000
Investments in funds		342,619	324,854
Equity method investments		5,465,501	5,032,268
Other assets		687,973	420,981
Intangible assets, net of accumulated amortization of $1,960,734 and $1,788,598		1,347,606	1,312,472
Goodwill		4,417,605	4,417,605
Total Assets		117,713,811	97,146,886
Current Liabilities:
Accounts payable (Delphax $2,146,938 and $2,145,847)**	[1]	14,730,946	10,181,143
Income tax payable (Delphax $11,312 and $11,312)**	[1]	34,312	23,000
Accrued expenses (Delphax $3,234,808 and $3,244,514)**	[1]	13,769,010	11,743,973
Current portion of long-term debt		15,242,526	9,229,690
Total Current Liabilities		43,776,794	31,177,806
Long-term debt (Delphax $0 and $0)**		44,123,009	38,855,260
Deferred tax liabilities		689,655	92,000
Other non-current liabilities		775,046	785,797
Total Liabilities		89,364,504	70,910,863
Redeemable non-controlling interest		2,583,162	1,992,939
Commitments and contingencies (Note 15)
Equity:
Preferred stock, $1.00 par value, 50,000 shares authorized
Common stock, $.25 par value; 4,000,000 shares authorized, 2,044,614 and 2,043,607 shares issued and outstanding		511,152	510,901
Additional paid-in capital		4,187,833	4,171,869
Retained earnings		22,075,937	20,695,981
Accumulated other comprehensive loss		(70,677)	(260,900)
Total Air T, Inc. Stockholders' Equity		26,704,245	25,117,851
Non-controlling Interests		(938,100)	(874,767)
Total Equity		25,766,145	24,243,084
Total Liabilities and Equity		$ 117,713,811	$ 97,146,886

[1] Amounts related to Delphax as of September 30, 2018 and March 31, 2018, respectively.