Note 4 - Cash Surrender Value of Life Insurance

12 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Life Insurance, Corporate or Bank Owned [Text Block]

4. 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

$122,000

and

$2,357,000

at

March 31, 2019

and

March 31, 2018,

respectively.

In fiscal

2019,

the Company received proceeds of approximately

$2,300,000,

respectively 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

March 31, 2019.