Note 8 - Accounts Receivable - Related Party

9 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 8 – ACCOUNTS RECEIVABLE - RELATED PARTY   

The Company has a $75,000 investment for 23.2% of Qol Devices Inc. (Qol), which is carried at cost and reported as a component of other assets in the accompanying consolidated balance sheets.

The Company provided $330,090 in engineering services to Qol during the year  March 31, 2018. Qol owes the Company $330,090 as of  March 31, 2021. The receivable is shown net of a $250,000 allowance for doubtful accounts on the consolidated balance sheets as of  December 31, 2021 and  March 31, 2021.