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STOCK OPTIONS AND WARRANTS (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2021 | Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |  |
SUMMARY OF STOCK OPTION ACTIVITY | A summary of stock option activity for the nine months ended December 31, 2021 is summarized below: SUMMARY OF STOCK OPTION ACTIVITY
|  | December 31, 2021 |
|  | Number of Options |  |  | Weighted Average Exercise Price |
Stock Options: |  |  |  |  |  |  |  |
Balance at beginning of period |  |  | 1,680,000 |  |  | $ | 0.32 |
Granted |  |  | 110,000 |  |  | $ | 0.25 |
Exercised |  |  | (80,000 | ) |  | $ | 0.18 |
Balance at end of period |  |  | 1,710,000 |  |  | $ | 0.33 |
Options exercisable at end of period |  |  | 1,600,000 |  |  | $ | 0.33 |
| A summary of stock option activity for each of the years presented is summarized below. SUMMARY OF STOCK OPTION ACTIVITY
|  | Fiscal 2021 |  |  | Fiscal 2020 |
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Number of Options |  |  | Weighted Average Exercise Price |
Stock Options: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  |  | 2,230,000 |  |  | $ | 0.26 |  |  |  | 2,210,000 |  |  | $ | 0.25 |
Granted |  |  | 100,000 |  |  | $ | 0.29 |  |  |  | 100,000 |  |  | $ | 0.38 |
Exercised |  |  | (440,000 | ) |  | $ | 0.06 |  |  |  | (60,000 | ) |  | $ | 0.17 |
Forfeited |  |  | (210,000 | ) |  | $ | 0.17 |  |  |  | (20,000 | ) |  | $ | 0.03 |
Balance at end of year * |  |  | 1,680,000 |  |  | $ | 0.32 |  |  |  | 2,230,000 |  |  | $ | 0.26 |
Options exercisable at end of year |  |  | 1,580,000 |  |  | $ | 0.33 |  |  |  | 2,130,000 |  |  | $ | 0.25 |
SCHEDULE OF EMPLOYEE STOCK OPTIONS OUTSTANDING | The following table summarizes information about employee stock options outstanding at December 31, 2021: SCHEDULE OF EMPLOYEE STOCK OPTIONS OUTSTANDING
Range of Exercise Price |  |  | Number Outstanding at December 31, 2021 |  |  | Weighted Average Remaining Contractural Life |  |  | Weighted Average Exercise Price |  |  | Number Exercisable at December 31, 2021 |  |  | Weighted Average Exercise Price |
$.12 - $.38 |  |  |  | 1,160,000 |  |  |  | 2.9 |  |  | $ | 0.24 |  |  |  | 1,050,000 |  |  | $ | 0.24 |
$.47 - $.55 |  |  |  | 550,000 |  |  |  | 5.2 |  |  | $ | 0.50 |  |  |  | 550,000 |  |  | $ | 0.50 |
-* | * |  |  | 1,710,000 |  |  |  |  |  |  |  |  |  |  |  | 1,600,000 |  |  |  |  |
* |  | Total number of options outstanding as of December 31, 2021 includes 650,000 options issued to three current and four former directors as compensation, and 1,090,000 options issued to key employees.
| The following table summarizes information about employee stock options outstanding at March 31, 2021: SCHEDULE OF EMPLOYEE STOCK OPTIONS OUTSTANDING
Range of Exercise Price |  | Number Outstanding at March 31, 2021 |  |  | Weighted Average Remaining Contractual Life |  |  | Weighted Average Exercise Price |  |  | Number Exercisable at March 31, 2021 |  |  | Weighted Average Exercise Price |
$0.12 - $0.38 |  |  | 1,130,000 |  |  |  | 4.0 |  |  | $ | 0.24 |  |  |  | 1,030,000 |  |  | $ | 0.23 |
$0.47 - $0.55 |  |  | 550,000 |  |  |  | 6.4 |  |  | $ | 0.50 |  |  |  | 550,000 |  |  | $ | 0.50 |
* |  |  | 1,680,000 |  |  |  |  |  |  |  |  |  |  |  | 1,580,000 |  |  |  |  |
* | Total number of options outstanding as of March 31, 2021 includes 600,000 options issued to five current and two former directors as compensation and 1,040,000 options issued to key employees that were not issued from the Plan.
SCHEDULE OF COMMON STOCK WARRANTS ISSUED AND OUTSTANDING | As per the execution of the August 2021 private placement as disclosed in Note 2 and Note 10, common warrants and pre-funded warrants issued and outstanding as of December 31, 2021 are as follows: SCHEDULE OF COMMON STOCK WARRANTS ISSUED AND OUTSTANDING
|  | Number of Shares |
Warrants outstanding at March 31, 2021 |  |  | - |
Common warrants issued |  |  | 34,666,667 |
Pre-funded warrants issued |  |  | 16,833,333 |
Warrants outstanding at December 31, 2021 |  |  | 51,500,000 |
SCHEDULE OF WARRANTS EXPIRATION | As of December 31, 2021, the Company’s warrants by expiration date were as follows: SCHEDULE OF WARRANTS EXPIRATION
Number of CommonWarrants |  |  | Number of Pre-funded Warrants |  |  | Exercise Price |  |  | Expiration Date
34,666,667 |  |  |  | - |  |  | $ | 0.35 |  |  | 9/15/2026
- |  |  |  | 16,833,333 |  |  | $ | 0.01 |  |  | N/A-*
34,666,667 |  |  |  | 16,833,333 |  |  |  |  |  |  |
* |  | Pre-funded warrants expire on the dates they are exercised.

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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