Note 10 - Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2012

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.

June 30, 2012	Level I		Level II		Level III		Total
Total Assets	$	-	$	-	$	-	$	-
Warrant liability		-		-		105,896		105,896
Total Liabilities	$	-	$	-	$	105,896	$	105,896

March 31, 2012	Level I		Level II		Level III		Total
Total Assets	$	-	$	-	$	-	$	-
Warrant liability		-		-		355,290		355,290
Total Liabilities	$	-	$	-	$	355,290	$	355,290

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

Since these common stock warrants do not trade in an active securities market, the Company recognizes a warrant liability and estimates the fair value of these warrants using the Black-Scholes options model using the following assumptions:

	At Inception			March 31, 2012			June 30, 2012
Risk free interest rate		2.81	%		2.23	%		1.67	%
Expected life in years		9.00			7.45			7.20
Expected volatility		28.51	%		53.19	%		41.45	%
Fair market value per share	$	6.70		$	6.33		$	3.68
Exercise price	$	6.70		$	6.70		$	6.70
Warrant Liability	$	281,656		$	355,290		$	105,896