Note 8 - Distribution of Subsidiary Stock

6 Months Ended

Sep. 30, 2011

Stockholders' Equity Note Disclosure [Text Block]

NOTE 8: DISTRIBUTION OF SUBSIDIARY STOCK

Thermodynetics distributed a dividend to shareholders of record on July 15, 2011 in a spin-off transaction, with the distribution effected on or about August 5, 2011. The dividend was distributed to shareholders who, on the record date, were owners of at least 1,000 shares of Thermodynetics common stock; they received shares of TPI Systems, Inc. ("TPI") on a one-for-one (1:1) pro rata basis. All other Thermodynetics shareholders, being those holding less than 1,000 shares of Thermodynetics, received a distribution of $0.0002 per share for each of the shares, pro rata, they owned of Thermodynetics as of the record date. There is no effect on any holdings in Thermodynetics.

The parent owns 1,000,000 shares of TPI and is in the process of issuing additional shares to increase its ownership to approximately 16%.