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CAPITAL STOCK (Tables)
 12 Months Ended
Mar. 31, 2024
Class of Stock [Line Items]  
SCHEDULE OF OUTSTANDING AND EXERCISABLE STOCK PURCHASE WARRANTS

At March 31, 2024, 2023, and 2022, outstanding and exercisable stock purchase warrants consisted of the following (as restated):

 

Number of
Shares

 

 

Weighted
Averaged
Exercise
Price

 

 

Weighted
Average Life
Remaining
(Years)

 

Outstanding at March 31, 2021

 

 

3,607,945

 

 

$

2.31

 

 

 

3.24

 

Granted

 

 

300,000

 

 

 

0.01

 

 

 

3.92

 

Exercised

 

 

(874,190

)

 

 

1.76

 

 

 

-

 

Forfeited or cancelled

 

 

-

 

 

 

-

 

 

 

-

 

Outstanding at March 31, 2022

 

 

3,033,755

 

 

$

2.32

 

 

 

2.29

 

Exercisable at March 31, 2022

 

 

3,033,755

 

 

$

2.32

 

 

 

2.29

 

 

 

Number of
Shares

 

 

Weighted
Averaged
Exercise
Price

 

 

Weighted
Average Life
Remaining
(Years)

 

Outstanding at March 31, 2022

 

 

3,033,755

 

 

 

2.32

 

 

 

2.29

 

Granted

 

 

150,000

 

 

 

0.01

 

 

 

4.50

 

Exercised

 

 

(300,003

)

 

 

0.34

 

 

 

-

 

Forfeited or cancelled

 

 

(322,806

)

 

 

2.00

 

 

 

-

 

Outstanding at March 31, 2023

 

 

2,560,946

 

 

$

2.46

 

 

 

1.59

 

Exercisable at March 31, 2023

 

 

2,560,946

 

 

$

2.46

 

 

 

1.59

 

 

 

Number of
Shares

 

 

Weighted
Averaged
Exercise
Price

 

 

Weighted
Average Life
Remaining
(Years)

 

Outstanding at March 31, 2023

 

 

2,560,946

 

 

$

2.46

 

 

 

1.59

 

Exercised

 

 

(31,750

)

 

 

2.40

 

 

 

-

 

Forfeited or cancelled

 

 

(720,366

)

 

 

3.19

 

 

 

-

 

Outstanding at March 31, 2024

 

 

1,808,830

 

 

$

2.16

 

 

 

1.09

 

Exercisable at March 31, 2024

 

 

1,808,830

 

 

$

2.16

 

 

 

1.09

 
SCHEDULE OF WARRANTS AND COMMON STOCK PURCHASE OPTIONS USING VALUATION METHODS AND ASSUMPTIONS

We valued warrants and Common Stock purchase options issued for services at their respective grants dates during the years ended March 31, 2024, 2023, and 2022 using valuation methods and assumptions that consider, among other factors, the fair value of the underlying stock, risk free interest rate, volatility, and expected life.

 

March 31,
2024

 

 

March 31,
2023

 

 

March 31,
2022

 

Risk free interest rate

 

 

4.1

%

 

 

3.9

%

 

 

1.2

%

Expected volatility

 

 

66.8

%

 

 

73.5

%

 

 

54.3

%

Expected term

 

5.8 years

 

 

5.0 years

 

 

5.0 years

 

Expected dividend yield

 

 

0.00

 

 

 

0.00

 

 

 

0.00

 
SCHEDULE OF SHARE BASED COMPENSATION ARRANGEMENTS

Number of Options

 

 

400,000

 

Option Vesting Period

 

Up to 3 years

 

Per share grant price

 

$

2.08

 

Dividend yield

 

 

-

 

Expected volatility

 

 

83.5

%

Risk-free interest rate

 

 

4.13

%

Expected life (years)

 

 

5.75

 

Weighted average fair value

 

$

1.50

 

 
Stock Option Activity [Member]  
Class of Stock [Line Items]  
SUMMARY OF STOCK ACTIVITY

The following is a summary of our stock option activity during the year ended March 31, 2024:

 

Number of Options

 

 

Weighted Average Exercise Price

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Life in Years

 

Outstanding, April 1, 2023

 

 

 

-

 

 

$

 

-

 

 

$

 

-

 

 

 

 

-

 

Granted

 

 

 

400,000

 

 

 

 

2.08

 

 

 

 

1.50

 

 

 

 

10.00

 

Exercised

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

Canceled/Forfeited

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

 

 

 

-

 

Outstanding, March 31, 2024

 

 

 

400,000

 

 

$

2.08

 

 

$

1.5

 

 

 

 

9.32

 

 
Stock Award Activity [Member]  
Class of Stock [Line Items]  
SUMMARY OF STOCK ACTIVITY

A summary of stock award activity for the year ended March 31, 2024 is as follows:

 

 

Number of Shares

 

 

Weighted-Average Grant-Date Fair Value Per Share

 

Outstanding at April 1, 2023

 

 

2,204,659

 

 

$

 

3.68

 

Granted

 

 

2,579,901

 

 

 

 

2.22

 

Vested

 

 

(1,371,849

)

 

 

 

2.94

 

Forfeited

 

 

(1,872,186

)

 

 

 

2.82

 

Outstanding at March 31, 2024

 

 

1,540,525

 

 

$

 

2.93

 

A summary of stock award activity for the year ended March 31, 2023 is as follows:

 

 

Number of Shares

 

 

Weighted-Average Grant-Date Fair Value Per Share

 

Outstanding at April 1, 2022

 

 

2,795,017

 

 

$

 

5.79

 

Granted

 

 

2,102,840

 

 

 

 

2.93

 

Vested

 

 

(573,750

)

 

 

 

7.24

 

Forfeited

 

 

(2,119,448

)

 

 

 

4.76

 

Outstanding at March 31, 2023

 

 

2,204,659

 

 

$

 

3.68

 

A summary of stock award activity for the year ended March 31, 2022 is as follows:

 

 

Number of Shares

 

 

Weighted-Average Grant-Date Fair Value Per Share

 

Outstanding at April 1, 2021

 

 

1,973,004

 

 

$

 

3.94

 

Granted

 

 

3,347,200

 

 

 

 

6.56

 

Vested

 

 

(299,167

)

 

 

 

1.98

 

Forfeited

 

 

(2,226,020

)

 

 

 

5.82

 

Outstanding at March 31, 2022

 

 

2,795,017

 

 

$

 

5.79