Note 2 - Summary of Significant Accounting Policies

3 Months Ended

Jun. 30, 2012

Significant Accounting Policies [Text Block]

2.  Summary of Significant Accounting Policies

There have been no material changes to any of the Company’s significant accounting policies and estimates as disclosed in the Company’s Annual Report on Form 10-K for the year ended March 31, 2012.

Customer Concentrations

A limited number of customers have historically accounted for a substantial portion of the Company’s revenues.

Customers who accounted for at least 10% of total revenues were as follows:

	Three Months Ended June 30,
	2012			2011
Customer A		14	%		15	%

Customers who accounted for at least 10% of gross accounts receivable were as follows:

	June 30, 2012			March 31, 2012
Customer A		16	%		22	%
Customer B		*			11	%
Customer C		12	%		*
Customer D		18	%		*

* Less than 10% of total accounts receivable.

Fair Value Measurements

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of June 30, 2012 (in thousands):

Description	Balance as of June 30, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Cash equivalents:
Money market fund	$	4	$	4	$	—
Certificates of deposit		199		—		199
Total	$	203	$	4	$	199

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis as of March 31, 2012 (in thousands):

Description	Balance as of March 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Cash equivalents:
Money market fund	$	4	$	4	$	—
Short-term investments:
Certificates of deposit		199		—		199
Total	$	203	$	4	$	199

The Company’s financial assets and liabilities are valued using market prices on both active markets (Level 1) and less active markets (Level 2). Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from readily-available pricing sources for comparable instruments. As of June 30, 2012 and March 31, 2012, the Company did not have any assets or liabilities without observable market values that would require a high level of judgment to determine fair value (Level 3).

Segment Information

The Company operates as one business segment and therefore segment information is not presented.