Note 6 - Convertible Preferred Stock

9 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Convertible Preferred Stock [Text Block]

6. Convertible Preferred Stock

In

February

2015,

pursuant to the terms of a Purchase Agreement between the Company and certain institutional funds and other accredited investors, the Company sold and issued

118,829

shares of Series F Convertible Preferred Stock (the “Series F Stock”), as described in the notes to the consolidated financial statements of the Company’s Annual Report on Form

10

-K for the year ended

March

31,

2016.

In

May

2015,

following approval by the Company’s stockholders, each whole share of Series F Stock converted automatically into

ten

shares of common stock. The Company recognized accretion related to the Series F Stock through the conversion date during the

three

months ended

June

30,

2015.