Note 7 - Stock-based Compensation

9 Months Ended

Dec. 31, 2017

Notes to Financial Statements

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

NOTE

7.

STOCK-BASED COMPENSATION

     Stock-based compensation expense was

$40,920

for the fir

st

nine

months of fiscal

2018

and

$22,000

for the

first

nine

months of fiscal

2017.

The stock-based compensation expenses were due to the automatic issuance to our non-employee directors of options to purchase

1,000

shares of stock on their reelection to our Board. We calculate the share-based compensation expense using the Black-Scholes standard option-pricing model. The increase in stock-based compensation expense for fiscal

2018

compared to fiscal

2017

was due to an increase in the model valuation for the same number of options to purchase shares.