Note 7 - Stock-based Compensation

9 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

NOTE

7.

STOCK-BASED COMPENSATION

     There were

no

stock-based compensation expenses for the

third

quarters of fiscal

2020

or

2019.

Stock-based compensation expense was

$48,360

for the

first

nine

months of fiscal

2020

and

$93,360

for the

first

nine

months of fiscal

2019.

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.