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CAPITAL STOCK and EARNINGS PER SHARE | 12 Months Ended
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Mar. 31, 2025
CAPITAL STOCK and EARNINGS PER SHARE |
CAPITAL STOCK and EARNINGS PER SHARE | NOTE 6 – CAPITAL STOCK and EARNINGS PER SHARE Common Stock We had 50,000,000 authorized shares of common stock on March 31, 2025 and 2024, respectively. There were 9,751,825 and 8,777,432 shares of common stock outstanding at March 31, 2025 and 2024, respectively. Preferred Stock We have 10,000,000 authorized shares of preferred stock and our board of directors has broad power to create one or more series of preferred stock and to designate the rights, preferences, privileges, and limitations of the holders of such series. There were no shares of preferred stock outstanding at March 31, 2025 and 2024. Earnings per Share Basic EPS is computed by dividing reported earnings available to stockholders by the weighted average shares outstanding. Diluted EPS also includes the effect of stock options that would be dilutive. The following table provides a reconciliation of the numerators and denominators reflected in the basic and diluted earnings per share computations, as required under FASB ASC 260. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, |  | March 31,
​ | ​ | 2025 | ​ | 2024
Basic and diluted EPS | ​ | ​ | ​ | ​ | ​ | ​
Net loss | ​ | $ | (2,748) | ​ | $ | (7,042)
Weighted average shares – basic and diluted | ​ |  | 9,459,164 | ​ | ​ | 8,717,160
Net loss per share | ​ | $ | (0.29) | ​ | $ | (0.81)
​ ​ The following table depicts all potential common stock equivalents that have an anti-dilutive effect and are excluded from the calculation of diluted EPS (i.e., those that increase income per share or decrease loss per share) for the fiscal years ended: ​
​ | ​ | ​ | ​ | ​
​ |  | March 31, 2025 |  | March 31, 2024
Stock options |  | 542,500 |  | 542,500
Warrants |  | 711,083 |  | 25,000
Restricted stock |  | 10,000 |  | —
​ For a number of business reasons, we may enter into contracts that are indexed to and settled in its own stock, such as warrants. Contracts that require settlement in shares are equity instruments and measured at fair value. Subsequent changes in fair value are not recognized as long as the contracts continue to be classified as equity. In connection with the sale of our common stock and warrants to purchase shares of our common stock in fiscal 2025 in a private placement, we recorded the sale of common stock and warrants as shareholder’s equity at a combined purchase price of $3.46. The portion of the proceeds received for the stock and warrant that are allocable to the warrant was accounted for as additional paid-in-capital. The allocation was based on the relative fair market values of the two securities at the time of issuance.

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