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Note 4 - Property and Equipment

12 Months Ended

Mar. 31, 2013

Property, Plant and Equipment Disclosure [Text Block]

4. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

		March 31,
		2013				2012
Furniture, fixtures and improvements		$	5,822,028			$	5,588,358
Flight equipment and rotables			3,203,765				3,202,739
Equipment leased to customers			2,042,776				1,381,727
			11,068,569				10,172,824
Less accumulated depreciation			(7,596,030	)			(7,191,246	)

Property and equipment, net		$	3,472,539			$	2,981,578

The Company has historically leased deicers and other equipment to customers on a limited basis. In the current year ended March 31, 2013, while still not a significant part of the Company’s business, this activity has increased. As a result, the Company has elected to reclassify the equipment under operating leases from finished goods inventory to property and equipment. See cost of the leased equipment in the table above. As a result, inventory with a net book value of $1,642,000 and $1,092,000 at March 31, 2013 and 2012, respectively, has been reclassified from inventory to property and equipment.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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