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Stock Options and Warrants
 6 Months Ended
Sep. 30, 2013
Stock Options and Warrants [Abstract]  
STOCK OPTIONS AND WARRANTS

NOTE 8 - STOCK OPTIONS AND WARRANTS

 

Stock options

 

On December 17, 2012, the Company granted 3,738,000 options with an exercise price of $0.17 per share under the Truli Media Group 2012 Directors, Officers, Employees and Consultants Stock Option Plan.

 

The following table summarizes the changes in options outstanding and the related prices for the shares of the Company’s common stock issued to employees and consultants under a stock option plan at September 30, 2013:

 

    Options Outstanding   Options Exercisable 
 

 Exercise Prices (S)

   

Number Outstanding

   

Weighted Average Remaining Contractual Life (Years)

   

Weighted Average Exercise Price (S)

   

Number Exercisable

   

Weighted Average Exercise

Price

 
$0.17   3,738,000   4.17  $0.17   1,056,000  $0.17 

 

The stock option activity for the six months ended September 30, 2013 is as follows:

 

  Options 
Outstanding		  Weighted 
Average 
Exercise Price		 
Outstanding at March 31, 2013  3,738,000  $0.17 
Granted  -   - 
Exercised  -   - 
Expired or canceled  -   - 
Outstanding at September 30, 2013  3,738,000  $0.17 

 

Stock-based compensation expense related to vested options was $9,499 and $22,695 during the three and six months ended September 30, 2013, respectively. The company determined the value of share-based compensation using the Black-Scholes fair value option-pricing model with weighted average assumptions for options granted during the six months ended September 30, 2013, including risk-free interest rates of 1.39%, volatility of 195%, expected lives of 2 to 5 years, and dividend yield of 0%.

 

Warrants

 

The following table summarizes the changes in warrants outstanding and related prices for the shares of the Company’s common stock issued to shareholders at September 30, 2013:

 

Exercise 
Price		  Number 
Outstanding		  Warrants  
Outstanding 
Weighted 
 Average 
Remaining 
 Contractual 
Life (years)		  Weighted 
Average 
Exercise price		  Number 
Exercisable		  Warrants 
 Exercisable 
Weighted 
Average 
Exercise Price		 
$0.01-0.05   27,578,935   2.95  $0.05   27,578,935  $0.05 

 

Transactions involving the Company’s warrant issuance are summarized as follows:

 

  Number of 
Shares		  Weighted 
Average 
Price  
Per Share		 
Outstanding at March 31, 2013  -  $- 
Issued  28,078,935   0.05 
Exercised  -   - 
Expired or cancelled  (500,000)  (0.04)
Outstanding at September 30, 2013  27,578,935  $0.05 

 

During the six months ended September 30, 2013, the Company issued 2,512,085 warrants with an exercise price of $0.01-$0.05 vested upon grant for services rendered. The fair value of $80,232 is charged to operations during the six months ended September 30, 2013 (see Note 4).

 

During the six months ended September 30, 2013, the Company issued 25,066,850 warrants with an exercise price of $0.05 vested upon grant. The fair value of $796,471 has been charged to interest expense (see Note 4).