Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax benefit:

	Fiscal Year Ended
	March 31,			March 31,
	2021			2020
Current:
Federal	$	-		$	-
State and local		-			-
Total current tax provision		-			-
Deferred:
Federal		(26,788	)		-
State and local		(239	)		(409	)
Release of valuation allowance		-			(2,648,871	)
Total deferred tax benefit		(27,027	)		(2,649,280	)
Total benefit	$	(27,027	)	$	(2,649,280	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The approximate values of the components of the Company’s deferred taxes on March 31, 2021, and 2020 are as follows:

	March 31,			March 31,
	2021			2020
Deferred tax assets (liabilities):
Net operating loss carryforwards	$	849,387		$	845,898
Tax credits		329,032			329,032
Charitable contributions		716			126
Legal damages		1,243,370			1,194,268
Allowance for doubtful accounts		1,576			1,575
Reserve for inventory obsolescence		120,815			115,517
Inventory capitalization (Net of section481A)		-			48,750
Vacation accrual		87,579			76,878
Warranty reserve		19,068			24,938
Deferred revenues		101,514			99,197
Stock options		15,689			15,683
AMT credit		-			-
Gain on Sale of Asset		345			-
Depreciation		5,949			(3,849	)
Deferred tax asset		2,775,040			2,748,013
Less valuation allowance		(100,000	)		(100,000	)
Deferred tax asset, net	$	2,675,040		$	2,648,013

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the income tax benefit provision at the statutory Federal tax rate of 21% for the years ended March 31, 2021, and 2020, respectively, to the income tax benefit provision recognized in the financial statements is as follows:

	March 31,			March 31,
	2021			2020
Income tax provision  – statutory rate	$	120,704		$	438,314
Income tax expenses – state and local, net of federal benefit		(14	)		67
Permanent items		4,864			5,865
PPP Loan Forgiveness		(151,741	)		-
Change in value of warrants – permanent difference		-			15,330
True-up of prior year’s deferred taxes		-			(36,164	)
Valuation allowance		-			(3,059,107	)
Other		(840	)		(13,585	)
Income tax benefit	$	(27,027	)	$	(2,649,280	)