Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2014

Summary of Significant Accounting Policies [Abstract]

Assets carried at fair value measured on a recurring basis

The following table provides the assets carried at fair value measured on a recurring basis at March 31:

Asset Class	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
2014
Short-term investments:
U.S. Government and Agency debt securities	$	3,451,000	$	-	$	3,451,000	$	-
2013
Short-term investments:
U.S. Government and Agency debt securities	$	3,757,000	$	-	$	3,757,000	$	-
Long-term investments:
U.S. Government and Agency debt securities		3,452,000		-		3,452,000		-

Amortized cost and fair value of marketable securities classified as available-for-sale

The amortized cost and fair value of our marketable securities classified as available-for-sale at March 31 are summarized as follows:

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
2014
Short-term investments:
U.S. Government and Agency debt securities	$	3,450,000	$	1,000	$	-		$	3,451,000
Total	$	3,450,000	$	1,000	$			$	3,451,000
2013
Short-term investments:
U.S. Government and Agency debt securities	$	3,756,000	$	1,000	$	-		$	3,757,000
Long-term investments:
U.S. Government and Agency debt securities		3,453,000		-		(1,000	)		3,452,000
Total	$	7,209,000	$	1,000	$	(1,000	)	$	7,209,000

Inventories

Inventories consist of the following at March 31:

	2014		2013
Raw materials	$	136,000	$	219,000
Work-in-process		25,000		21,000
Finished goods		356,000		479,000
	$	517,000	$	719,000

Components of property, plant, and equipment

We carry property, plant, and equipment, including leasehold improvements, at cost, less accumulated depreciation which consist of the following at March 31:

	2014			2013
Land	$	169,000		$	157,000
Building		768,000			716,000
Leasehold improvements		383,000			383,000
Internal use software		568,000			543,000
Equipment		1,573,000			1,374,000
		3,461,000			3,173,000
Less accumulated depreciation and amortization		(2,463,000	)		(2,140,000	)
	$	998,000		$	1,033,000

Intangible assets - patents

Our intangible assets are comprised of patents which we amortize on a straight-line basis over their estimated useful lives of six years.

	Gross Carrying Amount		Accumulated Amortization		Net value
March 31, 2014	$	5,653,000	$	5,533,000	$	120,000
March 31, 2013		5,603,000		5,502,000		101,000

Future amortization expense

At March 31, 2014, we estimate the following annual amortization for these assets in subsequent fiscal years:

2015	$	42,000
2016		39,000
2017		29,000
2018		5,000
2019 and beyond		5,000
	$	120,000

Anti-dilutive securities excluded from diluted loss per common share

Because we had a net loss in fiscal 2014, 2013 and 2012, the following options outstanding and unvested restricted stock to purchase shares of our common stock were excluded from diluted net loss per common share because of their anti-dilutive effect, and therefore, basic net loss per common share equals dilutive net loss per common share:

	Number of options and unvested restricted stock		Range of exercise prices
Years ended:
March 31, 2014		741,000	$	0.77 - $2.75
March 31, 2013		545,000	$	0.77 - $2.06
March 31, 2012		909,000	$	0.77 - $3.00