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Note 7 - Stock Options
9 Months Ended
Dec. 31, 2012
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]
Note 7 – Stock Options

The Company adopted FASB ASC 718, utilizing the modified prospective method.  FASB ASC 718 requires the measurement of stock-based compensation based on the fair value of the award on the date of grant.  Under the modified prospective method, the provisions of ASC 718 apply to all awards granted after the date of adoption.  The Company recognizes compensation cost on awards on a straight-line basis over the vesting period, typically four years.  As a result of adopting ASC 718, operations were charged $16,607 and $62,884 for three months and nine months ended December 31, 2012, respectively, as compared to $21,830 and $68,324 for the three and nine months ended December 31, 2011, respectively. The Company estimates the fair value of each option using the Black Scholes option-pricing model with the following weighted-average assumptions: expected dividend yield of 0.0%, risk-free interest rate of 0.86% to 1.08%, volatility at 36.07% to 36.63% of the Company’s stock, and an expected life of 5 years for options granted for the nine months ended December 31, 2011. The Company estimates forfeiture rate based on historical data.  Based on an analysis of historical information, the Company applied a forfeiture rate of 8%. The Company did not grant any options during the nine months ended December 31, 2012.