Note 3 - Recently Issued Accounting Standards	3 Months Ended
Jun. 30, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 3. RECENTLY ISSUED ACCOUNTING STANDARDS Recently Adopted Accounting Standard In February 2016, the FASB issued ASU No. 2016 - 02, Lease Accounting . ASU 2016 - 02 requires recognition of lease assets and lease liabilities on the balance sheet of lessees. In July 2018, the FASB issued ASU 2018 - 10, Codification Improvements to Topic 842 (Leases) , which provides narrow amendments to clarify how to apply certain aspects of the new lease standard. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which is fiscal 2020 for us. In July 2018, the FASB issued ASU No. 2018 - 11, Leases Topic ( 842 ): Targeted Improvements. ASU No. 2018 - 11 provided companies an option to apply the transition provisions of the new lease standard at its adoption date instead of at the earliest comparative period presented in its financial statements, and we adopted the new lease guidance using that method in the quarter ended June 30, 2019. Currently our only lease is the lease for our facility. We recognized $298,983 of leased liabilities a right-of-use asset of $261,644 as of April 1, 2019. The leased liabilities and right-of-use asset exclude non-lease components. There was no effect on our results of operations or cash flows. New Accounting Standard Not Yet Adopted In June 2016, the FASB issued ASU No. 2016 - 13, Financial Instruments—Credit Losses (Topic 326 ), Measurement of Credit Losses on Financial Statements . In November 2018 the FASB issued ASU No. 2018 - 19, Codification Improvements to Topic 326, Financial Instruments—Credit Losses , which clarifies codification and corrects unintended application of the guidance. ASU 2016 - 13 requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU 2016 - 13 and ASU 2018 - 19 are effective for financial statements issued for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years, which will be fiscal 2021 for us. We do not expect adoption of the new guidance to have a significant impact on our financial statements.

NOTE

RECENTLY ISSUED ACCOUNTING STANDARDS

Recently Adopted Accounting Standard

February 2016,

the FASB issued ASU

No.

2016

02,

Lease Accounting

. ASU

2016

requires recognition of lease assets and lease liabilities on the balance sheet of lessees. In

July 2018,

the FASB issued ASU

2018

10,

Codification Improvements to Topic

842

(Leases)

, which provides narrow amendments to clarify how to apply certain aspects of the new lease standard. The guidance is effective for fiscal years beginning after

December

15,

2018,

and interim periods within those fiscal years, which is fiscal

2020

for us. In

July 2018,

the FASB issued ASU

No.

2018

11,

Leases Topic (

842

): Targeted Improvements.

ASU

No.

2018

provided companies an option to apply the transition provisions of the new lease standard at its adoption date instead of at the earliest comparative period presented in its financial statements, and we adopted the new lease guidance using that method in the quarter ended

June

30,

2019.

Currently our only lease is the lease for our facility. We recognized

$298,983

of leased liabilities a right-of-use asset of

$261,644

as of

April 1, 2019.

The leased liabilities and right-of-use asset exclude non-lease components. There was

effect on our results of operations or cash flows.

New Accounting Standard

Not

Yet Adopted

June 2016,

the FASB issued ASU

No.

2016

13,

Financial Instruments—Credit Losses (Topic

326

), Measurement of Credit Losses on Financial Statements

. In

November

2018

the FASB issued ASU

No.

2018

19,

Codification Improvements to Topic

326,

Financial Instruments—Credit Losses

, which clarifies codification and corrects unintended application of the guidance. ASU

2016

requires a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU

2016

and ASU

2018

are effective for financial statements issued for fiscal years beginning after

December

15,

2019

and interim periods within those fiscal years, which will be fiscal

2021

for us. We do

not

expect adoption of the new guidance to have a significant impact on our financial statements.