Note 9 - Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

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

The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value as of June 30, 2013 and March 31, 2013. As required by FASB ASC 820-10, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

June  30, 2013	Level I		Level II		Level III		Total
Total Assets	$	-	$	-	$	-	$	-
Warrant liability		-		-		173,758		173,758
Total Liabilities	$	-	$	-	$	173,758	$	173,758

March 31, 2013	Level I		Level II		Level III		Total
Total Assets	$	-	$	-	$	-	$	-
Warrant liability		-		-		198,330		198,330
Total Liabilities	$	-	$	-	$	198,330	$	198,330

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a summary of the changes in fair value of our Level 3 financial liabilities from March 31, 2013 through June 30, 2013 as well as the portion of gains or losses included in income attributable to unrealized gains or losses related to the liability held at June 30, 2013:

Level 3 Reconciliation	Beginning at beginning of period		Gains and losses for the period (realized and unrealized)			Purchases, issuances, sales and settlements, net		Transfers in or out of Level 3		Balance at the end of period
Warrant liability		198,330		(24,572	)		-	-			173,758
Total Liabilities	$	198,330	$	(24,572	)	$	-	$	-	$	173,758

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:

Date of Warrant		Expiration  Date		Number of Warrants		Exercise  Price		Fair Market Value Per Share		Expected Volatility			Remaining  Life in Years		Risk Free  Interest Rate			Warrant  Liability
	09-10-2010		09-10-2019		136,920	$	6.70	$	6.70		28.51	%		9		2.81	%	$	267,848
	09-10-2010		09-10-2015		10,416	$	6.70	$	6.70		28.51	%		5		1.59	%	$	13,808
	07-26-2012		09-10-2019		50,000	$	3.35	$	3.90		42.04	%		7		0.94	%	$	66,193
	07-26-2012		09-10-2019		20,000	$	3.35	$	3.90		42.04	%		7		0.94	%	$	26,477
	11-20-2012		09-10-2019		20,000	$	3.56	$	3.50		42.45	%		6.83		1.09	%	$	21,441
	02-14-2013		09-10-2019		20,000	$	3.58	$	3.80		41.25	%		6.58		1.43	%	$	23,714

Date of  Warrant		Expiration Date	Number of Warrants		Exercise  Price		Fair Market Value Per Share		Expected Volatility			Remaining Life in Years		Risk Free Interest Rate			Warrant Liability
	09-10-2010	09-10-2019		136,920	$	6.70	$	3.50		41.45	%		6.45		1.24	%	$	81,080
	09-10-2010	09-10-2015		10,416	$	6.70	$	3.50		41.45	%		2.45		0.25	%	$	1,870
	07-26-2012	09-10-2019		50,000	$	3.35	$	3.50		41.45	%		6.33		1.24	%	$	53,269
	07-26-2012	09-10-2019		20,000	$	3.35	$	3.50		41.45	%		6.33		1.24	%	$	21,307
	11-20-2012	09-10-2019		20,000	$	3.56	$	3.50		41.45	%		6.50		1.24	%	$	20,664
	02-14-2013	09-10-2019		20,000	$	3.67	$	3.50		41.45	%		6.45		1.24	%	$	20,140

Date of  Warrant		Expiration Date	Number of Warrants		Exercise Price		Fair Market Value Per Share		Expected Volatility			Remaining Life in Years		Risk Free Interest Rate			Warrant Liability
	09-10-2010	09-10-2019		136,920	$	6.70	$	3.30		40.41	%		6.20		1.96	%	$	69,139
	09-10-2010	09-10-2015		10,416	$	6.70	$	3.30		40.41	%		2.30		0.36	%	$	1,188
	07-26-2012	09-10-2019		50,000	$	3.35	$	3.30		40.41	%		6.08		1.96	%	$	47,801
	07-26-2012	09-10-2019		20,000	$	3.35	$	3.30		40.41	%		6.08		1.96	%	$	19,120
	11-20-2012	09-10-2019		20,000	$	3.56	$	3.30		40.41	%		6.25		1.96	%	$	18,511
	02-14-2013	09-10-2019		20,000	$	3.67	$	3.30		40.41	%		6.20		1.96	%	$	17,999