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11. WARRANTS
6 Months Ended
Sep. 30, 2012
Note 11. Warrants  
WARRANTS

A summary of warrant activity during the three months ended September 30, 2012 is presented below:

 

    Amount    

Range of Exercise

 Price

 

Weighted Average

Exercise

 Price

Warrants outstanding at March 31, 2012     59,807,849     $0.10 - $0.25   $0.14
Exercised         --    
Issued     8,972,936     $0.107-$0.125   $0.11
Cancelled/Expired         $--    
Warrants outstanding at September 30, 2012     68,780,784     $0.10 - $0.25   $0.14
Warrants exercisable at September 30, 2012     68,780,784     $0.10 - $0.25   $0.14

 

24
 

The following outlines the significant weighted average assumptions used to estimate the fair value information presented, with respect to warrants utilizing the Binomial Lattice option pricing models at, and during the six months ended September 30, 2012:

 

Risk free interest rate 0.086% - 1.56%
Average expected life    5 - 7 years
Expected volatility      91.5 – 94.3%
Expected dividends  None