Annual report pursuant to Section 13 and 15(d)

5. EQUITY TRANSACTIONS (Tables)

v3.19.2
5. EQUITY TRANSACTIONS (Tables)
12 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Assumptions used for warrants granted
      Fiscal Year Ended  
      March 31, 2018  
Risk free interest rate     1.38% - 1.92%  
Average expected life     5 years  
Expected volatility     100.2% - 111.1%  
Expected dividends     None  
Summary of warrant activity
    Fiscal Year Ended March 31,  
    2019     2018  
    Warrants     Weighted
Average
Exercise Price
    Warrants     Weighted
Average
Exercise Price
 
Outstanding, beginning of year     5,922,571     $ 1.80       2,604,096     $ 3.64  
Granted           N/A       5,618,182     $ 1.10  
Exercised     (283,300 )   $ 1.10       (2,160,350 )   $ 1.10  
Cancelled/Forfeited     (494,396 )   $ 2.84       (139,357 )   $ 6.52  
Outstanding, end of year     5,144,875     $ 1.80       5,922,571     $ 1.80  
Exercisable, end of year     5,144,875     $ 1.80       5,922,571     $ 1.80  
Weighted average estimated fair value of warrants granted             N/A             $ 0.71  
Summary of warrant activity exercisable and outstanding
      Warrants Outstanding               Warrants Exercisable  
Range of
Exercise Prices
    Number
Outstanding
      Weighted
Average
Remaining
Life (Years)
      Weighted
Average
Exercise Price
      Number
Outstanding
      Weighted
Average
Exercise Price
 
$2.10 or Below     3,174,532       3.58     $ 1.10       3,174,532     $ 1.10  
$3.95 - $4.94     1,377,087       2.59     $ 4.06       1,377,087     $ 4.06  
$5.20 - $12.05     593,256       1.30     $ 6.62       593,256     $ 6.62  
      5,144,875                       5,144,875          
RSU's expected to vest
    Number of RSUs  
Vested     46,125  
Expected to vest     138,375  
Total     184,500  
Summary of stock options outstanding
    Fiscal Year Ended March 31,  
    2019     2018  
    Options     Weighted
Average
Exercise Price
    Options     Weighted
Average
Exercise Price
 
Outstanding, beginning of year     415,047     $ 9.67       388,047     $ 10.23  
Granted     552,625     $ 1.25       34,500     $ 1.68  
Exercised           N/A             N/A  
Cancelled/Forfeited     (81,000 )   $ 16.55       (7,500 )   $ 1.68  
Outstanding, end of year     886,672     $ 3.79       415,047     $ 9.67  
Exercisable, end of year     316,047     $ 8.36       388,047     $ 10.23  
Weighted average estimated fair value of options granted           $ 1.10             $ 1.46  
Detail of options outstanding and exercisable by exercise price
          Options Outstanding       Options Exercisable  
  Exercise Prices       Number
Outstanding
      Weighted
Average
Remaining
Life (Years)
      Weighted
Average
Exercise
Price
      Number
Outstanding
      Weighted
Average
Exercise
Price
 
  $1.25 - $1.68       579,625       9.68 years     $ 1.27       9,000     $ 1.68  
  $3.80 - $9.50       184,047       4.82 years     $ 5.93       184,047     $ 5.93  
  $12.50       123,000       1.76 years     $ 12.50       123,000     $ 12.50  
          886,672                       316,047          
Schedule of stock-based compensation
    Fiscal Year Ended  
    March 31, 2019     March 31, 2018  
Vesting of restricted stock units   $ 1,262,794     $ 1,212,794  
Vesting of stock options     56,207       47,975  
Total Stock-Based Compensation   $ 1,319,001     $ 1,260,769