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Income Taxes (Tables)
12 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Income tax provision (benefit):

 

   

Fiscal Year Ended

 
   

March 31,

   

March 31,

 
   

2022

   

2021

 

Current:

               

Federal

  $ -     $ -  

State and local

    -       -  
                 

Total current tax provision

    -       -  
                 

Deferred:

               

Federal

    178,780       (26,788

)

State and local

    (3,327 )     (239

)

Release of valuation allowance

    -       -  
                 

Total deferred tax provision (benefit)

    175,453       (27,027

)

                 

Total provision (benefit)

  $ 175,453     $ (27,027

)

 

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, 2022, and 2021 are as follows:

 

   

March 31,

   

March 31,

 
   

2022

   

2021

 

Deferred tax assets (liabilities):

               

Net operating loss carryforwards

  $ 706,643     $ 849,387  

Tax credits

    329,032       329,032  

Charitable contributions

    52       716  

Legal damages

    1,291,734       1,243,370  

Allowance for doubtful accounts

    1,572       1,576  

Reserve for inventory obsolescence

    108,696       120,815  

Vacation accrual

    39,349       87,579  

Warranty reserve

    18,518       19,068  

Deferred revenues

    86,629       101,514  

Stock options

    15,819       15,689  

Gain on Sale of Asset

    350       345  

Depreciation

    1,193       5,949  

Deferred tax asset

    2,599,587       2,775,040  

Less valuation allowance

    (100,000

)

    (100,000

)

                 

Deferred tax asset, net

  $ 2,499,587     $ 2,675,040  

 

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

A reconciliation of the income tax expense (benefit) provision at the statutory Federal tax rate of 21% for the years ended March 31, 2022, and 2021, respectively, to the income tax benefit provision recognized in the financial statements is as follows:

 

   

March 31,

   

March 31,

 
   

2022

   

2021

 
                 

Income tax provision – statutory rate

  $ 311,492     $ 120,704  

Income tax expenses – state and local, net of federal benefit

    2,949       (14

)

Permanent items

    4,144       4,864  

PPP loan forgiveness

    (151,741

)

    (151,741

)

Other

    8,609       (840

)

Income tax provision (benefit)

  $ 175,453     $ (27,027

)