Note 7 - Stock-based Compensation

6 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 7. STOCK-BASED COMPENSATION

      Stock-based compensation expense was $21,160 for the second quarter and first six months of fiscal 2016 and $58,960 for the second quarter and first six months of fiscal 2015. Stock-based compensation expenses for the quarters and six months ended September 30, 2015 and 2014 were due to the issuance of automatic stock options to our non-employee directors on their election or reelection to our Board. We calculate the share-based compensation expense using the Black-Scholes standard option-pricing model.