v3.22.2.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Net sales $ 2,012,758 $ 3,610,863 $ 4,266,515 $ 7,743,256
Cost of sales 1,459,286 1,942,956 2,877,858 4,060,602
Gross margin 553,472 1,667,907 1,388,657 3,682,654
Selling, general and administrative 478,758 596,618 1,034,967 1,150,651
Litigation expenses 495 3,220 1,219 4,400
Engineering, research, and development 609,636 682,852 1,131,739 1,376,427
Total operating expenses 1,088,889 1,282,690 2,167,925 2,531,478
(Loss) income from operations (535,417) 385,217 (779,268) 1,151,176
Interest income 2,137 995 3,123 1,980
Other income 0 22,260 0 35,853
Gain on forgiveness of PPP loan 0 722,577 0 722,577
Interest expense – judgement (71,016) (52,490) (122,936) (104,410)
Total other net (expense) income (68,879) 693,342 (119,813) 656,000
(Loss) income before income taxes (604,296) 1,078,559 (899,081) 1,807,176
Income tax (benefit) expense (126,928) 78,883 (188,844) 231,999
Net (loss) income (477,368) 999,676 (710,237) 1,575,177
Preferred dividends (80,000) (80,000) (160,000) (160,000)
Net (loss) income attributable to common shareholders $ (557,368) $ 919,676 $ (870,237) $ 1,415,177
Basic net (loss) income per common share (in Dollars per share) $ (0.17) $ 0.28 $ (0.27) $ 0.43
Diluted net (loss) income per common share (in Dollars per share) $ (0.17) $ 0.2 $ (0.27) $ 0.31
Weighted average shares outstanding:        
Basic (in Shares) 3,255,887 3,255,887 3,255,887 3,255,887
Diluted (in Shares) 3,255,887 5,095,665 3,255,887 5,095,665