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Stock-based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2022
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 in fiscal 2022 and 2021. All such amounts represent the weighted average amounts for each period. Summary of Grant-date Fair Value of Stock Options Granted and Assumptions Used Binomial Models
|  | For the year ended March 31, |
|  | 2022 |  |  | 2021 |
Grant-date fair value |  | $ | 6.05 |  |  |  | - |
Volatility factor |  |  | 65.38 | % |  |  | - |
Dividend yield |  |  | - |  |  |  | - |
Risk-free interest rate |  |  | .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 years ended March 31, 2022 and 2021: Summary of Activity of Stock Options
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Aggregate Average Remaining Contract Life in Years |  |  | Intrinsic Value |
Outstanding at April 1, 2020 |  |  | 227,700 |  |  | $ | 5.65 |  |  |  | 4.83 |  |  | $ | - |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (36,500 | ) |  |  | 6.78 |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | (35,200 | ) |  |  | 6.14 |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2021 |  |  | 156,000 |  |  | $ | 5.28 |  |  |  | 5.53 |  |  | $ | 555,100 |
Granted |  |  | 31,000 |  |  |  | 8.51 |  |  |  |  |  |  |  |  |
Exercised |  |  | (72,750 | ) |  |  | 6.30 |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2022 |  |  | 114,250 |  |  | $ | 5.51 |  |  |  | 7.40 |  |  | $ | 1,221,670 |
Vested at March 31, 2022 |  |  | 52,750 |  |  | $ | 4.68 |  |  |  | 6.24 |  |  | $ | 607,800 |
Exercisable at March 31, 2022 |  |  | 52,750 |  |  | $ | 4.68 |  |  |  | 6.24 |  |  | $ | 607,800 |
Schedule of Other Information Pertaining to Option Activity | Other information pertaining to option activity was as follows during the year ended March 31: Schedule of Other Information Pertaining to Option Activity
|  |  | 2022 |  |  |  | 2021 |
Weighted average grant-date fair value of stock options granted (per share) |  | $ | 6.05 |  |  | $ | - |
Total fair value of options vested |  | $ | 55,460 |  |  | $ | 55,460 |
Total intrinsic value of options exercised |  | $ | 588,889 |  |  | $ | 72,981 |
Summary of Information About Options Outstanding | The following table summarizes information about options outstanding at March 31, 2022: Summary of Information About Options Outstanding
Range of Exercise Prices |  |  | Number of Options |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Average Remaining Contract Life in Years |  |  | Aggregate Intrinsic Value |
$ | 3.34 – 4.83 |  |  |  | 38,000 |  |  | $ | 3.34 |  |  |  |  |  |  |  |  |
| 4.84 – 5.97 |  |  |  | 36,250 |  |  |  | 4.84 |  |  |  |  |  |  |  |  |
| 5.98 – 7.00 |  |  |  | 9,000 |  |  |  | 7.00 |  |  |  |  |  |  |  |  |
| 7.01 – 8.51 |  |  |  | 31,000 |  |  |  | 8.51 |  |  |  |  |  |  |  |  |
$ | 3.34 – 8.51 |  |  |  | 114,250 |  |  | $ | 5.51 |  |  |  | 7.40 |  |  | $ | 1,221,670 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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