Annual report pursuant to Section 13 and 15(d)

NOTE 15 - Employee Benefit Plan

v2.4.0.6
NOTE 15 - Employee Benefit Plan
12 Months Ended
Mar. 31, 2012
Pension and Other Postretirement Benefits Disclosure [Text Block]
NOTE 15 — Employee Benefit Plan

The Company had a program to contribute and administer individual Simple IRA accounts for regular full time employees. Under the plan, the Company matched employee contributions to the plan up to 3% of the employee’s salary. On December 31, 2010, the Company terminated the Simple IRA plan and established a qualified 401(k) plan.  Under the 401(k) plan, the Company matches employee contributions to the plan up to 4% of the employee’s salary. Company contributions to the plans amounted to an aggregate of $103,000 and $81,000 for the years ended March 31, 2012 and 2011, respectively.