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STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2021

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 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

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 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

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, 2021			210				0.46				0.36
Granted			-				-				-
Exercised			-				-				-
Cancelled/forfeited			-				-				-
Options outstanding as of June 30, 2021			210				0.46				0.36

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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-Section 50
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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