Net Income (Loss) per Share (Tables)

12 Months Ended

Mar. 31, 2020

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Net income (loss) per share attributable to common stockholders has been computed according to Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC 260”), “Earnings per Share,” which requires a dual presentation of basic and diluted income (loss) per share (“EPS”). Basic EPS attributable to common stockholders represents net income (loss) less preferred dividends divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS attributable to common stockholders reflects the potential dilution that could occur if securities, including preferred stock, 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. The dilutive effect of preferred stock is reflected in earnings per share by use of the if-converted 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.

	March 31, 2020			March 31, 2019
Basic net income (loss) per share computation:
Net income (loss)	$	4,736,490		$	203,038
Deemed dividend related to beneficial conversion feature of Series B Convertible Preferred Stock		-			(420,000	)
Less: Preferred dividends		(320,000	)		(312,807	)
Net income (loss) attributable to common shareholders		4,416,490			(529,769	)
Weighted-average common shares outstanding		3,255,887			3,255,887
Basic net income (loss) per share	$	1.36		$	(0.16	)
Diluted net income (loss) per share computation
Net income (loss) attributable to common shareholders	$	4,416,490		$	(529,769	)
Add: Preferred dividends		320,000			-
Diluted income (loss) attributable to common shareholders	$	4,736,490			(529,769	)
Weighted-average common shares outstanding		3,255,887			3,255,887
Incremental shares attributable to the assumed exercise of preferred stock, outstanding stock options and warrants		1,704,778			-
Total adjusted weighted-average shares		4,960,665			3,255,887
Diluted net income (loss) per share	$	0.95		$	(0.16	)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

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

	March 31, 2020		March 31, 2019
Convertible preferred stock		-		1,629,778
Stock options		118,500		42,500
Warrants		-		50,000
		118,500		1,722,278