15. Net Diluted Income (Loss) per Share

12 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

15.                 Net Diluted Income (Loss) per Share

Net income (loss) per share has been computed according to FASB ASC 260, “Earnings per Share,” which requires a dual presentation of basic and diluted earnings (loss) per share (“EPS”). Basic EPS represents net (loss) income divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation costs attributed to future services.

	March 31, 2016		March 31, 2015
Basic net income (loss) per share computation:
Net income(loss)	$	1,004,153	$	(280,440	)
Weighted-average common shares outstanding		3,256,887		3,253,992
Basic net  income (loss) per share	$	0.31	$	(0.09	)
Diluted net income (loss) per share computation
Net income (loss)	$	1,004,153	$	(280,440	)
Weighted-average common shares outstanding		3,256,887		3,253,992
Incremental shares attributable to the assumed exercise      of outstanding stock options and warrants		4,266		-
Total adjusted weighted-average shares		3,261,153		3,253,992
Diluted net income (loss) per share	$	0.31	$	(0.09	)

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share:

	March 31, 2016		March 31, 2015
Stock options		65,000		71,500
Warrants		286,920		297,336
		351,920		368,836