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STOCKHOLDERS' EQUITY

9 Months Ended

Dec. 31, 2018

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

Common stock

On July 24, 2017, pursuant to the Acquisition Agreement, the Company acquired one hundred percent (100%) of the issued and outstanding shares of Quasuras for 7,582,060 shares of the Company, resulting in Quasuras becoming a wholly-owned subsidiary of the Company. The historical equity for Quasuras was restated pursuant to the reorganization.

The Company has 50,000,000 shares of Common Stock authorized. The par value of the shares is $0.001. During the three months ended December 31, 2018, 1,786,432 shares of Common Stock were issued for a private placement at $4,019,478, including legal fees of $35,563. During the three months ended December 31, 2018, 30,000 shares of Common Stock were issued for cash of $19,800. As of December 31, 2018, 17,799,705 shares of Common Stock of the Company were issued and outstanding.

Preferred Stock

The Company has 5,000,000 shares of preferred stock authorized. The par value of the shares is $0.001. As of December 31, 2018, none of the shares of preferred stock of the Company were issued.

Stock Options

On October 19, 2017, the Board of Directors approved an Employee Stock Option Program (“Stock Option Program”) that reserves 3,000,000 shares of common stock of the Company to be issued. Under the Company’s Stock Option Program, eligible employees, directors and consultants are granted options to purchase shares of common stock of the Company. The Stock Option Program is administered by the Company’s Board of Directors or, in the alternative, if necessary, a committee designated by the Board of Directors, and has the sole power over the exercise of the Stock Option Program. The Board of Directors determines whether the Stock Option Program will allow for the issuance of shares of common stock or an option to purchase shares of common stock, such option designated as either an incentive stock option or a non-qualified stock option.

The exercise or purchase price shall be calculated as follows:

(i)

In the case of an incentive stock option, (A) granted to employees, directors and consultants who, at the time of the grant of such incentive stock option own stock representing more than ten percent (10%) of the voting power of all classes of stock of the Company, the per share exercise price shall be not less than one hundred ten percent (110%) of the fair market value per share on the date of grant; or (B) granted to employees, directors and consultants other than to employees, directors and consultants described in the preceding clause, the per share exercise price shall be not less than one hundred percent (100%) of the fair market value per share on the date of grant;

(ii)

In the case of a non-qualified stock option, the per share exercise price shall be not less than one hundred percent (100%) of the fair market value per share on the date of grant unless otherwise determined by the Board of Directors; and

(iii)

In the case of other grants, such price as is determined by the Board of Directors.

The Board of Directors are responsible for determining the consideration to be paid for the shares of common stock to be issued upon exercise or purchase. The Stock Option Program generally doesn’t allow for the transfer of the options, and the Board of Directors may amend, suspend or terminate the Stock Option Program at any time.