NJEDA BONDS (Tables)

12 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule Of Bond Issuance [Table Text Block]

On August 31, 2005, the Company successfully completed a refinancing of a prior 1999 bond issue through the issuance of new tax-exempt bonds (the “Bonds”) via the issuance of the following:

Description	Principal Amount On Issue Date		Interest Rate			Maturity
Series A Note	$	3,660,000		6.50	%	September 1, 2030
Series B Note		495,000		9.0	%	September 1, 2012

Bond Issue Costs And Amortization [Table Text Block]

Bond issue costs were paid from the bond proceeds and are being amortized over the life of the bonds. These costs and amortization activity are summarized as follows:

Description	Balances As of March 31, 2015		Amortization Expense Current YTD		Balances As of March 31, 2016
Bond Issue Costs	$	354,453			$	354,453
Accumulated Amortization		(135,874)		(14,178)		(150,052)
Unamortized Balance	$	218,579			$	204,401

Schedule of Securities Financing Transactions [Table Text Block]

Bond financing consisting of the following, as of March 31,

	2016		2015
Refinanced NJEDA Bonds	$	2,065,000	$	2,275,000
Current portion		(220,000)		(210,000)
Long term portion, net of current maturities	$	1,845,000	$	2,065,000

Schedule of Maturities of NJEDA Bonds [Table Text Block]

Maturities of Bonds for the next five years are as follows:

YEAR ENDING MARCH 31,	AMOUNT
2017	$	220,000
2018		85,000
2019		90,000
2020		95,000
2021		105,000
Thereafter		1,470,000
	$	2,065,000