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Stock-based Compensation (Tables)
9 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of Grant-date Fair Value of Stock Options Granted and Assumptions Used Binomial Models

Included in the following table is a summary of the grant-date fair value of stock options granted and the related assumptions used in the Binomial models for stock options granted during the nine months ended December 31, 2019 and 2018. All such amounts represent the weighted average amounts.

 

    Nine Months Ended  
    December 31  
    2019     2018  
Grant-date fair value     -     $ 3.25  
Volatility factor     -       55.26 %
Dividend yield     -       -  
Risk-free interest rate     -       2.91 %
Expected term (in years)     -       6.25  

Summary of Stock Options Activity

The following table is a summary of activity of stock options for the nine months ended December 31, 2019:

 

    Number of Shares     Weighted Average Exercise Price     Weighted Average Remaining Contract Life in Years  
Outstanding at April 1, 2019     185,700     $ 6.18       4.68  
Granted     -       -          
Exercised     -       -          
Forfeited or Expired     -       -          
Outstanding at December 31, 2019     185,700     $ 6.18       3.93  
                         
Vested at December 31, 2019     155,700     $ 6.44       3.01  
Exercisable at December 31, 2019     155,700     $ 6.44       3.01