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AVERAGE SHARE INFORMATION
 9 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
AVERAGE SHARE INFORMATION AVERAGE SHARE INFORMATION
The following is a summary of the basic and diluted average common shares outstanding:
Three months ended December 31,Nine months ended December 31,
2022202120222021
Basic:  
Weighted average common shares outstanding (denominator)5,761,954 6,118,591 5,743,094 6,119,971 
Diluted:  
Weighted average common shares outstanding5,761,954 6,118,591 5,743,094 6,119,971 
Dilutive potential common shares295,536 285,197 — 304,096 
Weighted average diluted shares outstanding (denominator)5,857,490 6,403,788 5,743,094 6,424,067 
 
Options to purchase 332,275 and 376,307 shares of common stock at various prices were outstanding during the three months ended December 31, 2022 and 2021 respectively, but were not included in diluted shares outstanding because the option exercise price exceeded the market value of the shares. 
Options to purchase 338,154 and 431,858 shares of common stock at various prices were outstanding during the nine months ended December 31, 2022 and 2021 respectively, but were not included in diluted shares outstanding because the option exercise price exceeded the market value of the shares.