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Capital Stock | 9 Months Ended
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Dec. 31, 2019
Stockholders' Equity Note [Abstract] |
Capital Stock | NOTE 9 – CAPITAL STOCK During the nine month period ended December 31, 2019, we issued 1,893,502 shares of common stock as follows:
| ● | 1,232,770 shares were sold to investors for $2,465,540
| ● | 127,291 shares were issued for the conversion of Convertible Promissory Notes valued at $318,226
| ● | 125,941 shares were issued for services valued at $280,000
| ● | 407,000 shares valued at $688,750 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation
In December of 2018, we entered into a placement agreement to secure equity capital from qualified investors to provide funds to our operations. The offering consisted of Units priced at $2.00, which included one share of common stock and one five-year warrant to purchase an additional half-share of common stock for an exercise price of $2.40 per share. Effectively, every two units purchased provided the investor with a five-year warrant at an exercise price of $2.40 per share. Units sold under this agreement totaled 1,232,770 shares of common stock and 616,385 warrants for $2,465,540 for the nine month period ended December 31, 2019. For services provided under the placement agreements, the placement agent collected a 12% cash fee on the sale of every Unit and a fee payable in warrants equaling 12% of the total Units sold. These warrants have a term of five years and an exercise price of $2.00 per share. The cash fee totaled $285,981 for the nine month period ended December 31, 2019, including reimbursed expenses. At December 31, 2019, outstanding and exercisable stock purchase warrants consisted of the following:
|  | Number of Shares |  |  | Weighted Averaged Exercise Price |  |  | Weighted Average Life Remaining (Years) |
Outstanding at March 31, 2019 |  | $ | 8,143,115 |  |  | $ | 2.09 |  |  |  | 4.35 |
Granted |  |  | 710,317 |  |  |  | 2.35 |  |  |  | 4.43 |
Exercised |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or cancelled |  |  | 224,000 |  |  |  | 2.50 |  |  |  | - |
Outstanding at December 31, 2019 |  |  | 8,629,432 |  |  | $ | 2.10 |  |  |  | 3.78 |
Exercisable at December 31, 2019 |  |  | 8,629,432 |  |  | $ | 2.10 |  |  |  | 3.78 |
As of December 31, 2019, we had 8,629,432 warrants outstanding. Each warrant provides the holder the right to purchase up to one share of our Common Stock at a predetermined exercise price. The outstanding warrants consist of (1) warrants to purchase an aggregate of 125,060 shares of Common Stock at an average price of $2.50 per share until March 2020; (2) warrants to purchase 966,494 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (3) warrants to purchase 4,641,745 shares of our Common Stock at an exercise price of $2.00 per share over the next three to five years; and (4) warrants to purchase 2,896,133 shares of Common Stock at an exercise price of $2.40 over the next five years.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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