Note 7 - Stock-based Compensation

9 Months Ended

Dec. 31, 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 first nine months of fiscal 2016, and $58,960 for the first nine months of fiscal 2015. The stock-based compensation expenses 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.