Note 3 - Recently Issued Accounting Standards

3 Months Ended

Jun. 30, 2017

Notes to Financial Statements

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

NOTE

3.

RECENTLY ISSUED ACCOUNTING STANDARDS

In

July 2015,

the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”)

No.

2015

-

11,

Simplifying the Measurement of Inventory.

ASU

2015

-

11

requires inventory that is recorded using the

first

-in,

first

-out method to be measured at the lower of cost or net realizable value. We adopted ASU

2015

-

11

prospectively in the

first

quarter of the fiscal year ended

March 31, 2018.

The adoption did

not

have a significant impact on our financial statements.

     In

March 2016,

the FASB issued ASU

No.

2016

-

09,

 

Compensation—Stock Compensatio

n

, which simplifies the accounting for the taxes related to stock based compensation, including adjustments to how excess tax benefits and a company’s payments for tax withholdings should be classified. We adopted

ASU2016

-

09

prospectively in the

first

quarter of the fiscal year ending

March 31, 2018.

The adoption did

not

have a significant impact on our financial statements.

     Information regarding all other applicable recently issued accounting standards, on which our position have

not

changed since our latest annual financial statements, are contained in the financial statements included in our Annual Report on Form

10

-K for the year ended

March 31, 2017.