Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2020
Mar. 31, 2020
ASSETS    
Cash and cash equivalents $ 6,402,983 $ 8,065,594 [1]
Marketable securities, short-term 19,179,495 19,084,814 [1]
Accounts receivable, net of allowance for uncollectible accounts of $15,000 2,297,850 2,694,018 [1]
Inventories 3,943,738 3,884,450 [1]
Prepaid expenses and other assets 718,122 655,835 [1]
Total current assets 32,542,188 34,384,711 [1]
Fixed assets    
Machinery and equipment 9,280,062 9,280,062 [1]
Leasehold improvements 1,797,245 1,797,245 [1]
Property, Plant and Equipment, Gross, Ending Balance 11,077,307 11,077,307 [1]
Less accumulated depreciation and amortization 10,571,515 10,494,840 [1]
Net fixed assets 505,792 582,467 [1]
Deferred tax assets 108,119 [1]
Marketable securities, long-term 45,049,578 43,606,495 [1]
Right-of-use asset – operating lease 784,774 816,358 [1]
Total assets 78,882,332 79,498,150 [1]
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Accounts payable 180,338 186,993 [1]
Accrued payroll and other 492,243 482,074 [1]
Income taxes payable 406,326
Operating lease 120,429 127,134 [1]
Total current liabilities 1,199,336 796,201 [1]
Deferred tax liabilities 189,523
Operating lease 675,928 706,600
Total liabilities 2,064,787 1,502,801
Shareholders’ equity    
Common stock, $0.01 par value, 6,000,000 shares authorized; 4,835,038 issued and outstanding as of June 30, 2020 and March 31, 2020 48,350 48,350 [1]
Additional paid-in capital 19,386,663 19,383,956 [1]
Accumulated other comprehensive income 1,759,185 516,523 [1]
Retained earnings 55,623,347 58,046,520 [1]
Total shareholders’ equity 76,817,545 77,995,349 [1]
Total liabilities and shareholders’ equity $ 78,882,332 $ 79,498,150 [1]
[1] The March 31, 2020 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, 2020.