8. Income Taxes (Tables)

12 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax (benefit) provision:

	Fiscal Year Ended
	March 31,		March 31,
	2014		2013
Current:
Federal	$	16,000	$	-
State and local		3,500		3,911
Total current tax provision		19,500		3,911
Deferred:
Federal		401,283		(1,561,076	)
State and local		22,062		13,585
Total deferred tax provision  (benefit)		423,345		(1,547,491	)
Total provision (benefit)	$	442,845	$	(1,543,580	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The approximate values of the components of the Company’s deferred taxes at March 31, 2014 and 2013 are as follows:

	March 31,			March 31,
	2014			2013
Deferred tax assets:
Net operating loss carryforwards	$	2,662		$	3,086
Tax credits		283			279
Allowance for doubtful accounts		9			7
Reserve for inventory obsolescence		70			69
Inventory capitalization		98			183
Deferred payroll		30			-
Vacation accrual		91			95
Warranty reserve		66			100
Deferred revenues		58			2
Stock options		36			32
Non-compete agreement		12			14
Depreciation		(52	)		(82	)
Deferred tax asset		3,363			3,785
Less valuation allowance		-			1
Deferred tax asset, net	$	3,363		$	3,784
Deferred tax asset – current	$	1,090		$	1,238
Deferred tax asset – long-term		2,273			2,546
Total	$	3,363		$	3,784

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the income tax (benefit) provision at the statutory Federal tax rate of 34% to the income tax (benefit) provision recognized in the financial statements is as follows:

	March 31,			March 31,
	2014			2013
Income tax (benefit) provision  – statutory rate	$	239,487		$	(1,467,491	)
Income tax expenses – state and local, net of federal benefit		19,500			3,500
Permanent items		141,474			(38,350	)
True-up of prior years deferred taxes		19,536			(67,246	)
Change in state rate		-			85,945
Change in valuation allowance		(171	)		(49,718	)
Other		23,019			(10,220	)
Income tax provision (benefit)	$	442,845		$	(1,543,580	)