Note 3 - Acquisition of Interest in Contrail (Tables)

6 Months Ended

Sep. 30, 2016

Contrail Aviation Inc. [Member]

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	July 18, 2016
ASSETS
Accounts receivable		1,357,499
Inventories		2,118,475
Prepaid expenses		30,121
Property and equipment		33,095
Intangible assets - non-compete		69,700
Intangible assets - tradename		322,000
Intangible assets - certification		47,000
Intangible assets - customer relationship		451,000
Goodwill		3,986,865
Total assets	$	8,415,755
LIABILITIES
Accounts payable	$	366,575
Accrued expenses		43,652
Earnout liability		2,900,000
Total liabilities	$	3,310,227
Net Assets	$	5,105,528

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	November 24, 2015
ASSETS
Cash and cash equivalents	$	586,061
Accounts receivable		1,740,210
Inventories		3,972,802
Other current assets		693,590
Property and equipment		722,714
Intangible assets - trade name		120,000
Intangible assets - patents		1,090,000
Goodwill		375,408
Total assets	$	9,300,785
LIABILITIES
Accounts payable	$	1,663,199
Accrued expenses		1,949,522
Income tax payable		11,312
Debt		3,313,317
Other long-term liabilities		650,500
Total liabilities	$	7,587,850
Net Assets	$	1,712,935

Schedule of Intangible Assets and Goodwill [Table Text Block]

	July 18, 2016		Amortization			September 30, 2016
	(Unaudited)					(Unaudited)
Amorizable intangible assets	$	889,700	$	(26,568	)	$	863,132
Goodwill		3,986,865		-			3,986,865
Intangible assets and goodwill, net	$	4,876,565	$	(26,568	)	$	4,849,997