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STOCK-BASED COMPENSATION | 3 Months Ended
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Jun. 30, 2021
Share-based Payment Arrangement [Abstract] |
Share-based Payment Arrangement [Text Block] | NOTE 14 – STOCK-BASED COMPENSATION As of June 30, 2021, under both the Company’s previous 2008 and current 2018 Omnibus Incentive Plans, a total of 8,337,627 shares of common stock have been issued to employees and advisors. In addition, 1.7 million restricted share units fair valued at $805 thousand with a weighted average value of $0.47 per share, have been granted but not yet issued from different Incentive Plans and Grants. Additionally, options held by advisors to purchase 210,000 shares of common stock fair valued at $96 thousand with a weighted average of $0.46 per share, that have been granted but are to be issued over a vesting period, between Fiscal 2023 and Fiscal 2026. Options granted and issued before the vesting period are expensed when issued. The options are fair valued using a Black-Scholes Pricing Model with the following assumptions:
|  | Granted in Fiscal 2022 |  |  | Granted in Fiscal 2021 |
Expected life of options |  | 5 years |  |  | 5 years |
Vested options |  |  | 100 | % |  |  | 100 | %
Risk free interest rate |  |  | 1.61 | % |  |  | 0.68 | %
Expected volatility |  |  | 281 | % |  |  | 249 | %
Expected dividend yield |  | Nil |  |  | Nil |
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 Selling, general and administrative expenses (including research and development). For the three months ended June 30, 2021, the Company’s share-based expense and option-based expense shown in Selling, general and administrative expenses (including research and development) was $120 thousand and $5 thousand, respectively. 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 Selling, general and administrative expenses (including research and development). For the three months ended June 30, 2020, the Company’s share-based expense and option-based expense shown in selling, general and administrative expenses (including research and development) was $160 thousand and $6 thousand, respectively.
Non-vested shares |  | Shares (in thousands) (#) |  |  | Weighted average grant date fair value ($) |
Non-vested shares as of March 31, 2021 |  |  | 173 |  |  |  | 0.85 |
Granted |  |  | 82 |  |  |  | 1.25 |
Vested |  |  | (82 | ) |  |  | (1.25 | )
Cancelled/forfeited |  |  | - |  |  |  | - |
Non-vested shares as of June 30, 2021 |  |  | 173 |  |  |  | 0.85 |
Options |  | Shares (in thousands) (#) |  |  | Weighted average grant date fair value ($) |  |  | Weighted average exercise price ($) |
Options outstanding as of March 31, 2021 |  |  | 210 |  |  |  | 0.46 |  |  |  | 0.36 |
Granted |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |
Cancelled/forfeited |  |  | - |  |  |  | - |  |  |  | - |
Options outstanding as of June 30, 2021 |  |  | 210 |  |  |  | 0.46 |  |  |  | 0.36 |
There was a combined unrecognized expense of $117 thousand related to non-vested shares and share options that the Company expects to be recognized over weighted average life of 1.82 years.

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