Note 7 - Stock-based Compensation

6 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

NOTE

7.

STOCK-BASED COMPENSATION

Stock-based compensation expense was

$48,360

for the

second

quarter and

first

six

months of fiscal

2020,

and

$93,360

for the

second

quarter and

first

six

months of fiscal

2019.

Stock-based compensation expenses for the quarters and

six

months ended

September 

30,

2019

and

2018

were due to the automatic issuance to our non-employee directors of options to purchase

1,000

shares of stock on their reelection to our Board. We calculate the share-based compensation expense using the Black-Scholes standard option-pricing model.