Stock Option Plans (Tables)

12 Months Ended

Mar. 31, 2022

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. The per share weighted-average fair value of stock options granted for the years ended March 31, 2022, and 2021 were $1.02 and $1.03, respectively, on the date of grant using the Black Scholes option-pricing model with the following assumptions:

	Dividend			Risk-free
	Yield			Interest rate			Volatility			Life
2022		0.0	%		0.78	%		82.69	%	5 years
2021		0.0	%		0.50	%		37.32	%	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, 2022, and 2021 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 on April 1, 2020		118,500		$	3.98	2.8 years	$	13,295
Options granted		15,000		$	3.11
Options exercised		-		$	-
Options canceled/forfeited		(35,000	)	$	5.85
Outstanding options on March 31, 2021		98,500		$	3.19	3.3 years	$	30,835
Options granted		23,000		$	2.94
Options exercised		-		$	-
Options canceled/forfeited		(10,000	)	$	3.19
Outstanding options on March 31, 2022		111,500		$	3.14	2.72 years	$	3,680
Vested Options:
March 31, 2022:		36,900		$	3.21	2.0 years	$	-
March 31, 2021:		19,700		$	3.22	2.8 years	$	5,567