Note 8 - Line of Credit

6 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Note 8 - Line of Credit

On March 21, 2016, the Company entered into a line of credit agreement with Bank of America, which expired March 31, 2017. In March 2017, the line of credit was renewed and the expiration date extended until March 31, 2018.  The new line provides a revolving credit facility with borrowing capacity of up to $1,000,000. There are no covenants or borrowing base calculations associated with this line of credit. Interest on any outstanding balances is payable monthly at an annual interest rate equal to the LIBOR (London Interbank Offered Rates) Daily Floating plus 3.75 percentage points. The Company’s interest rate was 4.985% at September 30, 2017.   The line is collateralized by substantially all of the assets of the Company.  During the six months ended September 30, 2017, the Company borrowed $800,000 from this line of credit. As of September 30, 2017 and March 31, 2017, the outstanding balances were $1,000,000 and $200,000, respectively.  As of September 30, 2017 the remaining availability under this line is $-0-.