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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

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

The options are valued using a Black-Scholes Pricing Model, and Market-based RSU is valued based on a lattice model, with the following assumptions:

		Granted in Fiscal 2023			Granted in Fiscal 2022
Expected life of options		5 years			5 years
Vested options		100	%		100	%
Risk free interest rate		2.64	%		2.42	%
Expected volatility		285	%		282	%
Expected dividend yield		Nil			Nil

Nonvested Restricted Stock Shares Activity [Table Text Block]

For the nine months ended December 31, 2021, the Company’s share-based and option-based expenses were $1.0 million thousand and $24 thousand, respectively.

Non-vested shares		Shares (in thousands)				Weighted average grant date fair value ($)
Non-vested shares as of March 31, 2022			5,283				1.17
Granted			1,650				0.43
Vested			(1,139	)			1.05
Cancelled/forfeited			-				-
Non-vested shares as of December 31, 2022			5,794				0.98

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, 2022			300				0.93				0.34
Granted			-				-				-
Exercised			-				-				-
Cancelled/forfeited			-				-				-
Options outstanding as of December 31, 2022			300				0.93				0.34

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

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
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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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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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