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Condensed Consolidated Balance Sheets (As Restated) (Current Period Unaudited) - USD ($)
Sep. 30, 2016
Mar. 31, 2016
Current Assets:    
Cash and cash equivalents (Delphax $166,593 and $249,528)** $ 2,191,740 $ 5,345,455 [1]
Marketable securities 2,526,208 4,944,572 [1]
Restricted cash 824,062 820,651
Accounts receivable, less allowance for doubtful accounts of $469,000 and $426,000 (Delphax $1,384,514 and $1,433,495)** 21,932,218 12,303,128 [1]
Notes and other receivables-current 2,211,118 592,721 [1]
Income tax receivable 1,105,919 719,899 [1]
Inventories, net (Delphax $2,474,463 and $4,462,298)** 17,667,401 12,274,104 [1]
Deferred income taxes 117,770 291,000 [1]
Prepaid expenses and other (Delphax $444,868 and $1,034,204)** 1,172,972 1,668,004 [1]
Total Current Assets 49,749,408 38,959,534 [1]
Investments in Available-For-Sale Securities 3,934,385 4,711,343 [1]
Property and Equipment, Net (Delphax $20,553 and $625,684)*** 4,899,771 4,577,774 [1]
Cash Surrender Value of Life Insurance Policies 2,112,430 2,100,057 [1]
Notes and Other Receivables - Long-term 103,996 [1]
Other Assets (Delphax $0 and $26,020)** 385,559 317,528 [1]
Intangible Assets, Net (Delphax $0 and $1,109,112)** 863,132 1,109,112 [1]
Goodwill (Delphax $0 and $275,408)** 3,986,865 275,408 [1]
Total Assets 65,931,550 52,154,752 [1]
Current Liabilities:    
Accounts payable (Delphax $2,563,403 and $1,684,802)** 10,409,771 7,003,660 [1]
Income tax payable (Delphax $11,312 and $11,312)** 11,312 [1]
Accrued expenses (Delphax $3,867,376 and $1,926,340)** 7,829,588 6,842,874 [1]
Short-term debt (Delphax $1,815,185 and $1,859,300)** 1,815,185 1,859,300 [1]
Total Current Liabilities 20,054,544 15,717,146 [1]
Long-Term Debt 20,761,175 4,835 [1]
Deferred Income Taxes 546,000 546,000 [1]
Other Non-current Liabilities 2,933,347 615,241 [1]
Total Liabilities 44,295,066 16,883,222 [1]
Redeemable non-controlling interest 1,079,772 [1]
Commitments and Contingencies (Notes 10 and 14) [1]
Equity:    
Preferred stock, $1.00 par value, 50,000 shares authorized 0 0 [1]
Common stock, $.25 par value; 4,000,000 shares authorized, 2,042,789 shares issued and outstanding at September 30, 2016, 2,372,527 shares issued and outstanding at March 31, 2016 510,696 593,131 [1]
Additional paid-in capital 4,268,536 4,956,171 [1]
Retained earnings 17,007,516 28,821,825 [1]
Accumulated other comprehensive income (loss), net 41,531 (140,519) [1]
Total Air T, Inc. Stockholders' Equity 21,828,279 34,230,608 [1]
Non-controlling interests (1,271,567) 1,040,922 [1]
Total Equity 20,556,712 35,271,530 [1]
Total Liabilities and Equity $ 65,931,550 $ 52,154,752 [1]
[1] Derived from audited consolidated financial statements