INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of income (loss) from continuing operations by location

	2019		2018
U.S. operations	$	1,390,485	$	316,520
Foreign operations		133,548		242,058
Income before income taxes		1,524,033		558,578
Income tax expense		423,357		824,486
Net income (loss)	$	1,100,676	$	(265,908	)

Schedule of components of income tax benefit

	2019		2018
Current
Federal	$	-	$	(896	)
State		-		-
Total Current	$	-	$	(896	)
Deferred
Federal		252,482		907,531
State		170,875		(82,149	)
Total Deferred	$	423,357	$	825,382
Income tax expense	$	423,357	$	824,486

Schedule of reconciliation between federal statutory income tax rate and effective income tax rate

	2019			2018
U.S. statutory income tax	$	320,047		$	172,012
State income tax, net of federal benefit		63,933			(22,672	)
Stock based compensation		30,497			8,764
Change in valuation allowance		(32,642	)		(24,159	)
Tax Act rate change impact on deferred taxes		-			703,251
Other		41,522			(12,710	)
Income tax expense	$	423,357		$	824,486
Effective tax rate*		27.8	%		147.6	%

Summary of the components of deferred income tax assets and liabilities

The following table summarizes the components of deferred income tax assets and liabilities: 

	2019			2018
Deferred Tax Assets:
Compensation	$	334,090		$	358,439
AMT tax credits		60,841			121,682
Other liabilities not currently deductible		94,207			96,769
Stock based compensation awards		224,975			285,411
Net operating loss carryforward		3,814,321			3,397,921
Valuation allowance		(1,701,276	)		(1,733,918	)
Total Deferred Tax Assets	$	2,827,158		$	2,526,304
Deferred Tax Liabilities:
Contract accounting methods	$	(751,723	)	$	-
Accelerated depreciation		(71,089	)		(480,006	)
Total Deferred Tax Liabilities	$	(822,812	)	$	(480,006	)
Net Deferred Tax Asset	$	2,004,346		$	2,046,298

Summary of carryforwards of net operating losses

	Amount		Begins to Expire:
Federal net operating losses	$	8,278,972		2026
State net operating losses	$	27,915,086		2032