Stock-based Compensation (Tables)

3 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Grant-date Fair Value of Stock Options Granted and Assumptions Used Binominal Models

Included in the following table is a summary of the grant-date fair value of stock options granted and the related assumptions used in the Binomial models for stock options granted during the three months ended June 30, 2024 and 2023. All such amounts represent the weighted average amounts.

	Three Months Ended
	June 30
	2024		2023
Grant-date fair value		-	$	8.73
Volatility factor		-		56.5	%
Dividend yield		-		-
Risk-free interest rate		-		3.44	%
Expected term (in years)		-		6.25

Summary of Activity of Stock Options

The following table is a summary of stock options activity for the three months ended June 30, 2024:

	Number of Shares			Weighted Average Exercise Price Per Share		Weighted Aggregate Average Remaining Contract Life in Years		Intrinsic Value
Outstanding at April 1, 2024		165,750		$	9.36		6.62	$	103,275
Granted		-			-
Exercised		(12,367	)		6.28
Forfeited or Expired		(1,875	)		14.83
Outstanding at June 30, 2024		151,508		$	9.54		6.74	$	269,604
Vested at June 30, 2024		91,133		$	6.82		5.82	$	409,989
Exercisable at June 30, 2024		91,133		$	6.82		5.82	$	409,989