Balance Sheets (Current Period Unaudited) - USD ($)
Dec. 31, 2015
Mar. 31, 2015
Current assets    
Cash and cash equivalents $ 3,594,164 $ 9,437,262 [1]
Marketable securities, short term 23,629,484 20,099,288 [1]
Accounts receivable, net of allowance for uncollectible accounts of $15,000 1,753,689 2,963,974 [1]
Inventories 3,108,911 3,742,492 [1]
Deferred tax assets 152,789 102,052 [1]
Prepaid expenses and other assets 903,568 574,913 [1]
Total current assets 33,142,605 36,919,981 [1]
Fixed assets    
Machinery and equipment 8,766,708 8,604,926 [1]
Leasehold improvements 1,539,965 1,524,298 [1]
10,306,673 10,129,224 [1]
Less accumulated depreciation and amortization 8,502,002 7,873,816
Net fixed assets 1,804,671 $ 2,255,408 [1]
Long-term deferred tax assets 99,958 [1]
Marketable securities, long term 68,127,073 $ 70,913,807 [1]
Total assets 103,174,307 110,089,196 [1]
Current liabilities    
Accounts payable 209,686 358,818 [1]
Accrued payroll and other 650,846 $ 1,127,136 [1]
Deferred revenue 714,805 [1]
Total current liabilities $ 1,575,337 $ 1,485,954 [1]
Long-term deferred tax liabilities 275,708 [1]
Shareholders’ equity    
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,844,845 issued and outstanding as of December 31, 2015 and 4,857,953 issued and outstanding as of March 31, 2015 $ 48,449 48,580 [1]
Additional paid-in capital 19,665,966 20,850,762 [1]
Accumulated other comprehensive income 81,357 746,447 [1]
Retained earnings 81,803,198 86,681,745 [1]
Total shareholders’ equity 101,598,970 108,327,534 [1]
Total liabilities and shareholders’ equity $ 103,174,307 $ 110,089,196 [1]
[1] The March 31, 2015 Balance Sheet is derived from the audited financial statements contained in our Annual Report on Form 10-K for the fiscal year ended March 31, 2015.