Quarterly report pursuant to Section 13 or 15(d)

NOTE 11. WARRANTS

v2.3.0.15
NOTE 11. WARRANTS
6 Months Ended
Sep. 30, 2011
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
NOTE 11.  WARRANTS

A summary of warrant activity during the six months ended September 30, 2011 is presented below:

   
Amount
   
Range of Exercise
 Price
   
Weighted Average
Exercise
 Price
 
Warrants outstanding at March 31, 2011
   
38,675,169
    $0.15 - $0.50     $0.31  
Exercised
   
(1,209,623
)
  $0.231          
Issued
   
19,544,827
    $0.10 - $0.125          
Cancelled/Expired
   
(3,460,576
)
  $0.33 - $0.50          
Warrants outstanding at September 30, 2011
   
53,549,797
    $0.10 - $0.25     $0.14  
Warrants exercisable at September 30, 2011
   
53,549,797
    $0.10 - $0.25     $0.14  

The following outlines the significant weighted average assumptions used to estimate the fair value information presented, with respect to warrants utilizing the Binomial Lattice option pricing model at, and during the six months ended September 30, 2011:

Risk free interest rate
0.10% - 2.24%
Average expected life   
0.78 - 5 years
Expected volatility     
82.1% - 86.6%
Expected dividends 
None