Note 7 - Shareholders' Equity

12 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Equity [Text Block]

NOTE 7 — SHAREHOLDERS’ EQUITY:

Common Shares:

Authorized common shares total 75,000,000 with a par value $0.01 per share, of which 21,042,652 were outstanding as of March 31, 2024 and March 31, 2023. Shares held in treasury at March 31, 2024 and  March 31, 2023 were 31,923,145. 

Series A Preferred Stock:

The Company has issued and outstanding 3,677 shares of Series A Preferred Stock, $.01 par value (“Preferred Stock”), with a face value of $3,677,000, which had no determinable market value as of March 31, 2024. The Preferred Stock is non-voting, has no dividend preferences and has not been convertible since March 31, 2002; however, it retains a liquidation preference.