XML 59 R26.htm IDEA: XBRL DOCUMENT v2.4.0.8
9. STOCK COMPENSATION (Tables)
9 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Components of share-based compensation expenses relating to shares and options granted

 

    Three Months Ended     Three Months Ended     Nine Months Ended     Nine Months Ended  
    December 31, 2013     December 31, 2012     December 31, 2013     December 31, 2012  
                         
Total share-based compensation expense   $ 32,750     $ 175,045     $ 223,351     $ 570,540  
                                 
Total share-based compensation expense included in net loss   $ 32,750     $ 175,045     $ 223,351     $ 570,540  
                                 
Basic and diluted loss per common share   $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00 )

 

    Three Months Ended     Three Months Ended     Nine Months Ended     Nine Months Ended  
    December 31, 2013     December 31, 2012     December 31, 2013     December 31, 2012  
Vesting of stock options     32,750       77,421       156,993       258,468  
Incremental fair value of option modifications     --       957       1,914       22,071  
Vesting expense associated with CEO restricted stock grant     --       96,667       64,444       290,001  
Total share-based compensation expense   $ 32,750     $ 175,045     $ 223,351     $ 570,540  
                                 
Total share-based compensation expense included in net loss   $ 32,750     $ 175,045     $ 223,351     $ 570,540  
                                 
Basic and diluted loss per common share   $ (0.00 )   $ (0.00 )   $ (0.00 )   $ (0.00 )
Weighted average assumptions used to estimate the fair value information
Risk free interest rate 0.38% - 2.50%
Average expected life    3 years - 10 years
Expected volatility      94.6% - 102.7%
Expected dividends  None
Options outstanding
                Weighted  
          Weighted     Average  
          Average     Remaining  
    Number of     Exercise     Contractual  
    Shares     Price     Term in Years  
                         
Vested     21,012,455     $ 0.28       3.63  
Expected to vest     3,708,343     $ 0.11       9.45  
Total     24,720,798     $ 0.26       4.50  
Stock option activity
    Number of Options     Range of Exercise
 Price
  Weighted Average
Exercise
 Price
Stock options outstanding at March 31, 2013     21,095,798     $0.76 - $0.41   $0.28
Exercised         $--    
Granted     3,625,000     $0.10 - 0.11   $0.10
Cancelled/Expired         --    
Stock options outstanding at December 31, 2013     24,720,798     $0.076 - $0.41   $0.28
Stock options exercisable at December 31, 2013     21,012,455     $0.076 - $0.41   $0.26