Net (Loss) Income per Share (Tables)

3 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

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

Net income (loss) per share 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 per share (“EPS”). Basic EPS represents net income (loss) divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS 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.  For the three months ended June 30, 2022, since the Company has a net loss, the effect of common stock equivalents is anti-dilutive, and as such, common stock equivalents have been excluded from this calculation.

	Three Months Ended			Three Months Ended
	June 30, 2022			June 30, 2021
Basic net income (loss) per share computation:
Net(loss) income	$	(232,869	)	$	575,501
Less: Preferred dividends		(80,000	)		(80,000	)
Net income attributable to common shareholders		(312,869	)		495,501
Weighted-average common shares outstanding		3,255,887			3,255,887
Basic net (loss) income per share	$	(0.10	)	$	0.15
Diluted net income per share computation
Net (loss) income attributable to common shareholders	$	(312,869	)	$	495,501
Add: Preferred dividends		-			80,000
Diluted income attributable to common shareholders	$	(312,869	)	$	575,501
Weighted-average common shares outstanding		3,255,887			3,255,887
Incremental shares attributable to the assumed conversion of preferred stock		-			1,839,778
Total adjusted weighted-average shares		3,255,887			5,095,665
Diluted net income per share	$	(0.10	)	$	0.11

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

	June 30, 2022		June 30, 2021
Convertible preferred stock		1,839,778		-
Stock options		111,500		98,500
		1,951,278		98,500