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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2019 | Mar. 31, 2019
STOCKHOLDERS' EQUITY |  |
Assumptions used in fair value method |
|  |  | Nine Months Ended December 31, 2019 |
Risk-free interest rates |  |  | 1.34% - 2.41 | %
Volatility |  |  | 87% - 102 | %
Expected life (years) |  |  | 5.0 - 6.0 |
Dividend yield |  |  | — | %
|  | Year Ended March 31, 2019 |
Risk-free interest rates |  |  | 2.73 - 3.01 | %
Volatility |  |  | 71% - 112 | %
Expected life (years) |  |  | 5.0 |
Dividend yield |  |  | — | %
Stock-based compensation |  |
Grantees |  | Option Shares |  |  | Vesting Periods |  | Total Fair Value of Options |  |  | 2019 Stock-Based Compensation Expense |  |  | Unrecognized expense at March 31, 2019 |
Consultants |  |  | 1,280,000 |  |  | July 25, 2018 to July 24, 2019 |  | $ | 682,240 |  |  | $ | 466,197 |  |  | $ | 216,043 |
Consultants |  |  | 185,221 |  |  | January 16, 2019 to January 15, 2022 |  | $ | 336,732 |  |  | $ | 23,150 |  |  | $ | 313,582 |
Chief Executive Officer |  |  | 64,687 |  |  | * |  | $ | 42,761 |  |  | $ | 42,761 |  |  |  | — |
Total |  |  | 1,529,908 |  |  |  |  | $ | 1,061,733 |  |  | $ | 532,108 |  |  | $ | 529,625 |
* Options were fully vested as of the grant date, as disclosed above.
Assumptions used in fair value method of options granted |  |
|  | Year Ended March 31, 2019 |
Risk-free interest rates |  |  | 2.54 - 2.82 | %
Volatility |  |  | 104% - 110 | %
Expected life (years) |  |  | 5.21 - 5.88 |
Dividend yield |  |  | — | %
Stock option activity |
|  |  |  |  | Options Outstanding |
|  |  |  |  |  |  |  | Weighted |
|  | Shares |  |  |  |  |  | Average |
|  | Available |  |  | Number of |  |  | Exercise |
|  | for Grant |  |  | Shares |  |  | Prices |
Balance at April 1, 2019 |  |  | 1,470,092 |  |  |  | 1,529,908 |  |  | $ | 0.86 |
Options granted |  |  | (22,686 | ) |  |  | 22,686 |  |  |  | 2.25 |
Balance at June 30, 2019 |  |  | 1,447,406 |  |  |  | 1,552,594 |  |  | $ | 0.88 |
Options granted |  |  | (77,800 | ) |  |  | 77,800 |  |  |  | 2.25 |
Balance at September 30, 2019 |  |  | 1,369,606 |  |  |  | 1,630,394 |  |  | $ | 0.95 |
Options granted |  |  | (896,049) |  |  |  | 896,049 |  |  |  | 2.25 |
Balance at December 31, 2019 |  |  | 473,557 |  |  |  | 2,526,443 |  |  | $ | 1.41 |
|  |  |  |  | Options outstanding |
|  | Shares Available for Grant |  |  | Number of Shares |  |  | Weighted Average Exercise Prices |
Balance at April 1, 2017 |  |  | — |  |  |  | — |  |  |  | — |
Shares authorized under the Plan |  |  | 3,000,000 |  |  |  | — |  |  |  | — |
Balance at March 31, 2018 |  |  | 3,000,000 |  |  |  | — |  |  | $ | — |
Options granted |  |  | 1,529,908 |  |  |  | 1,529,908 |  |  | $ | 0.86 |
Balance at March 31, 2019 |  |  | 1,470,092 |  |  |  | 1,529,908 |  |  | $ | 0.86 |
Range of outstanding and exercisable options |
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Price |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (in Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic value |
$0.66 - $2.25 |  |  | 2,526,443 |  |  |  | 9.12 |  |  | $ | 1.41 |  |  |  | 1,462,222 |  |  | $ | 0. 80 |  |  | $ | — |
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Price |  | Number Outstanding |  |  | Weighted Average Remaining Contractual Life (in Years) |  |  | Weighted Average Exercise Price |  |  | Number Exercisable |  |  | Weighted Average Exercise Price |  |  | Aggregate Intrinsic value |
$0.66 - $2.25 |  |  | 1,529,908 |  |  |  | 9.39 |  |  | $ | 0.86 |  |  |  | 918,020 |  |  |  | 0.68 |  |  | $ | — |

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