XML 58 R16.htm IDEA: XBRL DOCUMENT v2.4.1.9
11. WARRANTS
9 Months Ended
Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
WARRANTS

A summary of warrant activity during the nine months ended December 31, 2014 is presented below:

 

    Amount     Range of
Exercise Price
    Weighted Average
Exercise Price
 
Warrants outstanding at March 31, 2014     70,709,475       $0.042 - $0.25     $ 0.13  
Exercised     (29,354,214     $0.042 – $0.22     0.09  
Issued     40,323,919       $0.042 - $0.30     $ 0.17  
Cancelled/Expired     (9,884,578     $0.042 - $0.22      0.14  
Warrants outstanding at December 31, 2014     71,794,602       $0.042 - $0.30     $ 0.14  
Warrants exercisable at December 31, 2014     71,794,602       $0.042 - $0.30     $ 0.14  

  

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 nine months ended December 31, 2014:

 

Risk free interest rate 0.79% - 2.29%  
Average expected life    5 years – 7 years
Expected volatility      87.8% - 107.4%
Expected dividends  None