Note 9 - Line of Credit

3 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Note 9 - 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 Company extended until March 31, 2018.  The 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 5.83% at June 30, 2018.   The line is collateralized by substantially all of the assets of the Company.  During the three months ended June 30, 2018, the Company repaid $50,000 against this line of credit. As of June 30, 2018 and March 31, 2018, the outstanding balances were $950,000 and $1,000,000, respectively.  As of June 30, 2018 the remaining availability under this line is $-0-. The Company is currently negotiating this line of credit with the bank.