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Stock-based Compensation (Tables)

6 Months Ended

Sep. 30, 2021

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 six months ended September 30, 2021 and 2020. All such amounts represent the weighted average amounts.

 Summary of Grant-date Fair Value of Stock Options Granted and Assumptions Used Binomial Models

		Six Months Ended
		September 30
		2021				2020
Grant-date fair value		$	6.05				-
Volatility factor			65.38	%			-
Dividend yield			-				-
Risk-free interest rate			0.92	%			-
Expected term (in years)			6.25				-

Summary of Activity of Stock Options

The following table is a summary of activity of stock options for the six months ended September 30, 2021:

 Summary of Activity of Stock Options

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contract Life in Years				Intrinsic Value
Outstanding at April 1, 2021			156,000			$	5.28				5.53			$	555,100
Granted			31,000				8.51
Exercised			(27,900	)			6.63
Forfeited or Expired			-				-
Outstanding at September 30, 2021			159,100			$	5.67				6.50			$	752,622
Vested at September 30, 2021			87,350			$	5.56				4.59			$	422,362
Exercisable at September 30, 2021			87,350			$	5.56				4.59			$	422,362

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

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-Publisher FASB
-Name Accounting Standards Codification
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