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Consolidated Statements of Changes in Stockholders’ Equity - USD ($)
Preferred Stock
Common Stock
Additional Paid-in Capital
Treasury Stock
Statutory Reserve
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Total
Balance at Mar. 31, 2021 $ 11,333 $ 15,301,268 $ 346,315 $ 40,748,314 $ (15,901) $ 56,391,329
Balance (in Shares) at Mar. 31, 2021 11,332,974            
Stock-based compensation expense for the restricted stock units issued under stock incentive plan 947,079 947,079
Cashless exercise of warrants $ 1 (1)
Cashless exercise of warrants (in Shares)   1,344            
Common stock issued net of stock issuance costs of $730,000 $ 1,000 6,269,000 6,270,000
Common stock issued net of stock issuance costs of $730,000 (in Shares)   1,000,000            
Net income 7,919,600 7,919,600
Dividend payments (2,366,796) (2,366,796)
Statutory Reserve 33,008 (33,008)
Foreign currency translation gain (loss) 143,046 143,046
Balance at Mar. 31, 2022 $ 12,334 22,517,346 379,323 46,268,110 127,145 69,304,258
Balance (in Shares) at Mar. 31, 2022 12,334,318            
Stock-based compensation expense for the restricted stock units issued under stock incentive plan 413,900 413,900
Issuance of common stocks upon vesting of restricted stock units $ 200 (200)
Issuance of common stocks upon vesting of restricted stock units (in Shares)   200,000            
Share repurchase (1,169,046) (1,169,046)
Net income 2,419,623 2,419,623
Dividend payments (2,484,127) (2,484,127)
Statutory Reserve 31.524 (31,524)
Foreign currency translation gain (loss) (250,374) (250,374)
Balance at Mar. 31, 2023 $ 12,534 $ 22,931,046 $ (1,169,046) $ 410,847 $ 46,172,082 $ (123,229) $ 68,234,234
Balance (in Shares) at Mar. 31, 2023 12,534,318