Note 5 - Marketable Securities

3 Months Ended

Jun. 30, 2016

Notes to Financial Statements

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

NOTE 5. MARKETABLE SECURITIES

     Marketable securities with remaining maturities less than one year are classified as short-term, and those with remaining maturities greater than one year are classified as long-term. The fair value of our marketable securities as of June 30, 2016, by maturity, were as follows:

Total		<1 Year		1–3 Years		3–5 Years
$	90,730,594	$	19,559,795	$	50,581,928	$	20,588,871

 
     As of June 30 and March 31, 2016, our marketable securities were as follows:
 

	As of June 30, 2016								As of March 31, 2016
	Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value		Adjusted Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
Corporate bonds	$	88,332,907	$	1,060,409	$	-	$	89,393,316	$	83,339,487	$	717,206	$	(10,824	)	$	84,045,869
Municipal bonds		1,334,451		2,827		-		1,337,278		1,344,328		2,522		-			1,346,850
Total	$	89,667,358	$	1,063,236	$	-	$	90,730,594	$	84,683,815	$	719,728	$	(10,824	)	$	85,392,719

 
     No securities were in an unrealized loss position as of June 30, 2016. The following table shows the gross unrealized losses and fair value of our investments with unrealized losses, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position as of June 30 and March 31, 2016:
 

	Less Than 12 Months					12 Months or Greater					Total
	Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses			Fair Market Value		Gross Unrealized Losses
As of June 30, 2016
Corporate bonds	$	-	$	-		$	-	$	-		$	-	$	-
Municipal bonds		-		-			-		-			-		-
Total	$	-	$	-		$	-	$	-		$	-	$	-
As of March 31, 2016
Corporate bonds	$	3,003,606	$	(6,703	)	$	2,599,870	$	(4,121	)	$	5,603,476	$	(10,824	)
Municipal bonds		-		-			-		-			-		-
Total	$	3,003,606	$	(6,703	)	$	2,599,870	$	(4,121	)	$	5,603,476	$	(10,824	)

 
     Because we expect to recover the cost basis of investments held, we do not consider any of our marketable securities to be impaired as of June 30, 2016.