Annual report pursuant to Section 13 and 15(d)

8. INCOME TAXES (Tables)

v3.8.0.1
8. INCOME TAXES (Tables)
12 Months Ended
Mar. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of deferred tax assets
    YEAR ENDED MARCH 31,  
    2018     2017  
Deferred tax assets:                
Capitalized research and development   $ 3,442,000     $ 3,442,000  
Net operating loss carryforwards     16,257,000       22,060,000  
Stock compensation     575,000       318,000  
Total deferred tax assets     20,274,000       25,820,000  
                 
Total deferred tax liabilities            
                 
Net deferred tax assets     20,274,000       25,820,000  
Valuation allowance for deferred tax assets     (20,274,000 )     (25,820,000 )
                 
Net deferred tax assets   $     $  
Provision for income taxes
    2018     2017  
             
Income taxes (benefit) at federal statutory rate of 30.75%   $ (1,753,000 )   $ (2,484,000 )
State income tax, net of federal benefit     (349,000 )     (438,000 )
Tax effect on non-deductible expenses and credits     74,000       382,000  
Change in valuation allowance1     (5,546,000 )     2,540,000  
Change in tax rate     7,574,000          
    $     $