Note 8 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2022			2021
Tax expense/(benefit) computed at U.S. statutory rates	$	691,042		$	(697,040	)
Increases (decreases) in taxes resulting from:
IRC Section 280E		132,063			173,045
Other permanent items		5,526			14,407
Change in valuation allowance		579,861			26,720
Adjustments to valuation of deferred tax assets		(1,408,492	)		603,319
Tax return true-up		58,277			-
Total provision for income taxes		58,277			120,451
Penalties and interest on prior year tax liabilities		76,709			48,076
Total income tax expense	$	134,986		$	168,527

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2022			2021
Deferred tax assets:
Stock based compensation	$	3,144,084		$	3,131,344
Net operating loss carryforward		10,816,588			10,460,788
Impairment of long-lived assets		-			975,461
Depreciation and Amortization expense		(1,369	)		(458,938	)
Other temporary items		(209,714	)		220,795
Total deferred tax assets		13,749,589			14,329,450
Less valuation allowance		(13,749,589	)		(14,329,450	)
Net deferred tax asset	$	-		$	-