Stock Option Plans (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The fair value of each option awarded is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on historical volatility of Common Stock. The expected life of the options granted represents the period of time from date of grant to expiration (5 years). The risk-free interest rate is based on the U.S. Treasury yield in effect at the time of grant. There were no stock options granted for the year ended March 31, 2019. The per share weighted-average fair value of stock options granted for the year ended March 31, 2020 was $1.05 on the date of grant using the Black Scholes option-pricing model with the following assumptions:

	Dividend			Risk-free
	Yield			Interest rate			Volatility			Life
2020		0.0	%		2.28	%		33.15	%	5 years

Share-based Payment Arrangement, Option, Activity [Table Text Block]

A summary of the status of the Company’s stock option plans for the fiscal years ended March 31, 2020 and 2019 and changes during the years are presented below (in number of options):

	Number of Options			Average Exercise Price		Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding options at April 1, 2018		72,500		$	5.26
Options granted		-		$	-
Options exercised		-		$	-
Options canceled/forfeited		(30,000	)	$	5.07
Outstanding options at March 31, 2019		42,500		$	5.40	1.6 years	$	-0-
Options granted		76,000		$	3.19
Options exercised		-		$	-
Options canceled/forfeited		-		$	-
Outstanding options at March 31, 2020		118,500		$	3.98	2.8 years	$	13,295
Vested Options:
March 31, 2020:		38,000		$	5.65	0.3 years	$	2,734-
March 31, 2019:		22,500		$	5.68	1.3 years	$	-0-

Schedule of Nonvested Share Activity [Table Text Block]

A summary of the Company’s non-vested shares as of March 31, 2020 and changes during the year ended March 31, 2020 is presented below:

Non-vested Shares	Shares			Weighted-Average Grant-Date Fair value
Non-vested at April 1, 2019		20,000		$	5.09
Granted		76,000		$	3.19
Vested		(15,500	)	$	5.60
Forfeited				$	-
Non-vested at March 31, 2020		80,500		$	3.20