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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The options are fair valued using a Black-Scholes Pricing Model with the following assumptions:

	Granted in Fiscal 2021			Granted in Fiscal 2020
Expected life of options	5 years			5 years
Vested options		100	%		100	%
Risk free interest rate		0.68	%		2.57	%
Expected volatility		249	%		249	%
Expected dividend yield	Nil			Nil

Nonvested Restricted Stock Shares Activity [Table Text Block]

The expense associated with share-based payments to employees, directors, advisors and contractors is allocated over the vesting or service period and recognized in the Common Stock and Additional Paid in Capital. For the nine months ended December 31, 2019, the Company’s share-based expense and option-based expense shown in Selling, general and administrative expenses (including research and development) was $525 thousand and $17 thousand respectively.

Non-vested shares	Shares (in thousands) (#)			Weighted average grant date fair value ($)
Non-vested shares as of March 31, 2020		1,851			0.40
Granted		45			1.04
Vested		(70	)		0.45
Cancelled/Forfeited		-			-
Non-vested shares as of December 31, 2020		1,826			0.42

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Options	Shares (in thousands) (#)			Weighted average grant date fair value ($)		Weighted average exercise price ($)
Options outstanding as of March 31, 2020		160			0.40		0.39
Granted		150			0.64		0.30
Exercised		(100	)		0.64		0.30
Cancelled/Forfeited		-			-		-
Options outstanding as of December 31, 2020		210			0.46		0.36