Annual report pursuant to Section 13 and 15(d)

STOCK BASED COMPENSATION (Tables)

v3.23.1
STOCK BASED COMPENSATION (Tables)
 12 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of fair value of such stock options using the Black-Scholes option valuation
The Company has determined the fair value of restricted shares awarded during the twelve months ended March 31, 2022, using the Monte Carlo valuation model based on the following key assumptions:
Term (years) 5
Volatility 41.5  %
Risk-free rate 0.06  %
Schedule of restricted stock activity
The table below summarizes the activity for the Company's restricted stock outstanding during the year ended March 31, 2022:
Shares Weighted
Average
Fair Value
Outstanding, March 31, 2021
 15,000  $ 775 
Granted 1,039,000  39,760 
Vested (4,500) (233)
Forfeited/cancelled/expired —  — 
Outstanding, at March 31, 2022
 1,049,500  $ 40,303 
Schedule of the activity of the company's restricted stock outstanding
The Company has determined the fair value of such stock options using the Black-Scholes option valuation model based on the following key assumptions:
Term (years) 3
Volatility 165.33  %
Risk-free rate 1.66  %
Schedule of stock options roll forward
The following is a summary of stock option activity for year ended March 31, 2022:
Shares Weighted Average
Exercise Price		 Weighted
Average Remaining
Contractual Term
(In Years)		 Aggregate
Intrinsic Value
Outstanding, March 31, 2021
 60,000  $ 1.98  6.52 $ 3,083,000 
Granted —  —  —  — 
Exercised (60,000) 1.98  6.52 3,742,000 
Forfeited/cancelled/expired —  —  —  — 
Outstanding, at March 31, 2022
 —  $ —  —  $ — 
Exercisable, at March 31, 2022
 —  $ —  —  $ —