Note 3 - Commitments and Contingencies

12 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

3.

   COMMITMENTS AND CONTINGENCIES

The Company is obligated under a noncancelable operating lease for its Longview, Texas office space, which expires

April 

30,

2018.

 The following is a schedule of future minimum annual rental payments for the next

five

years required under this operating lease as of

March 

31,

2017:

2018	$	32,736
2019		2,728
2020		—
2021		—
2022		—
Total	$	35,464

The Company's lease of office space in Humble, Texas expired during fiscal

2017

and was

not

renewed. Rental expenses for leased properties were approximately

$64,400

and

$70,500

during fiscal

2017

and

2016,

respectively.