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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2024
Stock-Based Compensation [Abstract] |
Schedule of Assumptions were used in the Fair-Value Method | The weighted-average grant date fair values of stock options granted during the years ended March 31, 2024 and 2023 was $0.99 and $2.85, respectively. The following assumptions were used in the fair-value method calculations:
|  |  | Year Ended March 31, |
|  |  | 2024 |  |  |  | 2023 |
Risk-free interest rates |  |  | 3.51% - 4.72% |  |  |  | 2.82% - 4.06% |
Volatility |  |  | 83% - 152% |  |  |  | 83% - 223% |
Expected life (years) |  |  | 5.0 - 6.2 |  |  |  | 5.0 – 5.7 |
Dividend yield |  |  | — |  |  |  | — |
Schedule of Summarizes the Activity in the Shares | The following table summarizes the activity in the shares available for grant under the Plan during the year ended March 31, 2024:
|  |  |  |  | Options Outstanding |
|  | Shares Available for Grant |  |  | Number of Shares |  |  | Weighted Average Exercise Price |
Balance at March 31, 2022 |  |  | 989,466 |  |  |  | 1,650,705 |  |  | $ | 6.58 |
Additional shares authorized under the Plan |  |  | 2,000,000 |  |  |  | — |  |  |  | — |
Options granted |  |  | (1,006,074 | ) |  |  | 1,006,074 |  |  |  | 3.15 |
Share awards |  |  | (26,789 | ) |  |  | — |  |  |  | — |
Options cancelled and returned to the Plan |  |  | 175,689 |  |  |  | (175,689 | ) |  |  | 6.48 |
Balance at March 31, 2023 |  |  | 2,132,292 |  |  |  | 2,481,090 |  |  |  | 5.19 |
Additional shares authorized under the Plan |  |  | 3,000,000 |  |  |  | — |  |  |  | — |
Options granted |  |  | (1,448,533 | ) |  |  | 1,448,533 |  |  |  | 0.99 |
Share awards |  |  | (25,390 | ) |  |  | — |  |  |  | — |
RSUs granted |  |  | (250,000 | ) |  |  | — |  |  |  | — |
Options cancelled and returned to the Plan |  |  | 240,282 |  |  |  | (240,282 | ) |  |  | 3.84 |
Balance at March 31, 2024 |  |  | 3,648,651 |  |  |  | 3,689,341 |  |  | $ | 3.70 |
Schedule of RSU Activity under the Plan | A summary of RSU activity under the Plan is presented below.
|  | Number of Shares |  |  | Weighted Average Grant- Date Fair Value |
Balance at March 31, 2023 |  |  | — |  |  |  | — |
Granted |  |  | 250,000 |  |  | $ | 0.91 |
Vested |  |  | (62,501 | ) |  |  | 0.91 |
Balance at March 31, 2024 |  | $ | 187,499 |  |  | $ | 0.91 |
Schedule of Outstanding and Exercisable Options | The following table summarizes the range of outstanding and exercisable options as of March 31, 2024:
|  | Options Outstanding |  |  | Options Exercisable |
|  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Average |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Remaining |  |  | Weighted |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  | Contractual |  |  | Average |  |  |  |  |  | Average |  |  | Aggregate |
|  | Number |  |  | Life |  |  | Exercise |  |  | Number |  |  | Exercise |  |  | Intrinsic |
Range of Exercise Price |  | Outstanding |  |  | (in Years) |  |  | Price |  |  | Exercisable |  |  | Price |  |  | Value |
$0.93 - $2.00 |  |  | 2,237,066 |  |  |  | 8.31 |  |  | $ | 1.48 |  |  |  | 1,409,750 |  |  | $ | 1.52 |  |  | $ | 538,006 |
$3.95 - $7.51 |  |  | 943,145 |  |  |  | 7.20 |  |  |  | 5.29 |  |  |  | 771,478 |  |  |  | 5.52 |  |  |  | — |
$8.61 - $17.70 |  |  | 509,130 |  |  |  | 7.23 |  |  |  | 10.53 |  |  |  | 470,442 |  |  |  | 10.53 |  |  |  | — |
$0.93 - $17.70 |  |  | 3,689,341 |  |  |  | 7.88 |  |  | $ | 3.70 |  |  |  | 2,651,670 |  |  | $ | 4.28 |  |  | $ | 538,006 |

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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 715 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (k) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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