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Subsequent Events
3 Months Ended
Jun. 30, 2021
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

 

During July 2021, the Company made payments totaling $250,000 on the credit facility leaving a balance of $550,000.

 

During July 2021, stock options covering 10,500 shares were exercised with a total intrinsic value of $36,433. The Company received proceeds of $73,500 from these exercises.

 

Pursuant to approval from the Compensation Committee of the Board of Directors, the Company granted options covering 31,000 shares of stock at a strike price of $8.51 effective July 26, 2021.

 

The Company completed a review and analysis of all events that occurred after the consolidated balance sheet date to determine if any such events must be reported and has determined that there are no other subsequent events to be disclosed.