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Stockholders' Equity

9 Months Ended

Dec. 31, 2018

Equity [Abstract]

Stockholders' Equity

Note 16 — Stockholders’ Equity

Issuance of Common Stock for Services to Consultants

During the nine months ended December 31, 2018, the Company issued 159,243 shares of its common stock valued at $0.7 million to certain Company consultants. Additionally, the Company has $0.6 million in Accounts Payable and accrued liabilities for stock earned by consultants, but not yet issued. During the three and nine months ended December 31, 2018, the Company recorded $0.2 million and $1.4 million, respectively, of expense related to stock issuances to consultants. The remaining unrecognized compensation cost of approximately $0.8 million is expected to be recorded over the next year as the shares vest.

During the nine months ended December 31, 2017, the Company issued 383,335 shares of its common stock valued at $1.7 million to certain Company consultants. During the three and nine months ended December 31, 2017, the Company recorded $1.0 million and $1.7 million, respectively, of expenses related to the stock issuances.

Issuance of Common Stock for Services to Employees

During the three and nine months ended December 31, 2018, the Company recorded $0.1 million and $0.4 million, respectively, of expense related to prior stock issuances to employees. As of December 31, 2018, the remaining unrecognized compensation cost of $0.2 million is expected to be recorded over the next year as the shares vest.

During the nine months ended December 31, 2017, the Company issued 233,334 shares of its common stock valued at $1.2 million to certain employees. During the three and nine months ended December 31, 2017, the Company recorded $0.1 million and $0.4 million, respectively, of expense related to the stock issuances to employees.

Additional details of the Company’s issuances of its common stock to employees during nine months ended December 31, 2018 are as follows:

		Number of Shares				Weighted- Average Grant Date Fair Value per Share
Non-vested as of March 31, 2018			187,500			$	5.01
Granted			-				-
Vested			(143,056	)			5.01
Forfeited or expired			-				-
Non-vested as of December 31, 2018			44,444				5.01

Issuance of Common Stock upon Conversion of Notes

During the nine months ended December 31, 2018, we issued 393,570 shares of our common stock in exchange for the conversion of $1.2 million of our 6% unsecured convertible notes and related accrued interest.

Warrants

The table below summarizes the Company’s warrant activities during the nine months ended December 31, 2018:

		Number of Warrants				Weighted Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)
Balance outstanding, March 31, 2018			167,363				4.01				2.94
Granted			-				-				-
Exercised			-				-				-
Forfeited/expired			-				-				-
Balance outstanding, December 31, 2018			167,363				4.01				2.19
Exercisable, December 31, 2018			167,363				4.01				2.19

At December 31, 2018, the intrinsic value of warrants outstanding and exercisable was $0.2 million.