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Stock-based Compensation (Tables)
 3 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Grant-date Fair Value of Stock Options Granted and Assumptions Used Binominal 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 three months ended June 30, 2023 and 2022. All such amounts represent the weighted average amounts.

 

   Three Months Ended 
   June 30 
   2023   2022 
Grant-date fair value  $8.73    - 
Volatility factor   56.5%   - 
Dividend yield   -    - 
Risk-free interest rate   3.44%   - 
Expected term (in years)   6.25    - 
Summary of Activity of Stock Options

The following table is a summary of stock options activity for the three months ended June 30, 2023:

 

   Number of Shares   Weighted Average Exercise Price Per Share   Weighted Aggregate Average Remaining Contract Life
in Years		   Intrinsic Value 
Outstanding at April 1, 2023   139,250   $8.36    7.04   $419,853 
Granted   32,000    12.68           
Exercised   (500)   5.93           
Forfeited or Expired   -    -           
Outstanding at June 30, 2023   170,750   $9.18    7.35   $483,098 
                     
Vested at June 30, 2023   75,250   $5.02    5.44   $526,328 
Exercisable at June 30, 2023   75,250   $5.02    5.44   $526,328