v3.26.1
COMMON STOCK TRANSACTIONS
 12 Months Ended
Mar. 31, 2026
Equity [Abstract]  
COMMON STOCK TRANSACTIONS

NOTE 8 - COMMON STOCK TRANSACTIONS

 

The Company is authorized to issue 50,000,000 shares of common stock with a par value of $0.001 per share (the “Common Stock”). Holders of the Company’s Common Stock are entitled to one vote for each share.

 

During the year ended March 31, 2026, the Company issued 1,850,036 shares of restricted Common Stock to private investors. The purchase price ranged from $1.90-5.00 per share, resulting in total net proceeds of $4.4 million.

 

In August 2025, the Company’s Board of Directors authorized a share repurchase program which permits the Company to repurchase up to an aggregate of 200,000 shares of the Company’s Common Stock from existing shareholders only, solely in privately negotiated transactions, at a purchase price per share not greater than the then-current market price as determined based on the last reported sale price of the Company’s Common Stock on the Company’s principal trading market. The Company is not obligated to repurchase any shares and may suspend or terminate the program at any time. Repurchased shares may be held as treasury stock or retired, as determined by the Company. The repurchase program will remain in effect until the earliest of (i) the repurchase of 200,000 shares, (ii) 12 months from the date the program was authorized, or (iii) revocation by further Board action.

 

On October 1, 2025, the Company repurchased 57,642 shares of Common Stock from an existing shareholder for $1.36 per share. The repurchase was made pursuant to the share repurchase program authorized by the Company’s Board of Directors. Following the transaction, 142,358 shares remain authorized for repurchase.