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5. EQUITY TRANSACTIONS (Tables) | 12 Months Ended
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Mar. 31, 2017
Equity [Abstract] |
Assumptions used for warrants granted | 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, issued during the fiscal year ended March 31, 2018:
Risk free interest rate |  |  | 1.38% - 1.92% |
Average expected life |  |  | 5 years |
Expected volatility |  |  | 100.2% - 111.1% |
Expected dividends |  |  | None |
The following outlines the significant weighted average assumptions used to estimate the fair value of warrants granted utilizing the Binomial Lattice option pricing model:
|  |  | Year Ended March 31, |
|  |  | 2018 |  |  |  | 2017 |
Risk free interest rate |  |  | 1.38% - 1.92% |  |  |  | 0.7% - 1.93% |
Average expected life |  |  | 5 years |  |  |  | 3.42 – 5.5 years |
Expected volatility |  |  | 100.2% - 111.1% |  |  |  | 88.2% - 96.0% |
Expected dividends |  |  | None |  |  |  | None |
Summary of warrant activity | A summary of the aggregate warrant activity for the years ended March 31, 2018 and 2017 is presented below:
|  | Fiscal Year Ended March 31, |
|  | 2018 |  |  | 2017 |
|  | Warrants |  |  | Weighted Average Exercise Price |  |  | Warrants |  |  | Weighted Average Exercise Price |
Outstanding, beginning of year |  |  | 2,604,096 |  |  | $ | 3.64 |  |  |  | 2,164,094 |  |  | $ | 6.68 |
Granted |  |  | 5,618,182 |  |  | $ | 1.10 |  |  |  | 749,825 |  |  | $ | 4.10 |
Exercised |  |  | (2,160,350 | ) |  | $ | 1.10 |  |  |  | (2,660 | ) |  | $ | 6.25 |
Cancelled/Forfeited |  |  | (139,357 | ) |  | $ | 6.52 |  |  |  | (307,163 | ) |  | $ | 5.18 |
Outstanding, end of year |  |  | 5,922,571 |  |  | $ | 1.80 |  |  |  | 2,604,096 |  |  | $ | 3.64 |
Exercisable, end of year |  |  | 5,922,571 |  |  | $ | 1.80 |  |  |  | 2,604,096 |  |  | $ | 3.64 |
Weighted average estimated fair value of warrants granted |  |  |  |  |  | $ | 0.71 |  |  |  |  |  |  | $ | 2.65 |
Summary of warrant activity exercisable and outstanding | The detail of the warrants outstanding and exercisable as of March 31, 2018 is as follows:
|  |  | Warrants Outstanding |  |  |  |  |  |  |  | Warrants Exercisable |
Range of Exercise Prices |  |  | Number Outstanding |  |  |  | Weighted Average Remaining Life (Years) |  |  |  | Weighted Average Exercise Price |  |  |  | Number Outstanding |  |  |  | Weighted Average Exercise Price |
$2.10 or Below |  |  | 3,863,722 |  |  |  | 4.13 |  |  | $ | 1.21 |  |  |  | 3,863,722 |  |  | $ | 1.21 |
3.95 - $4.94 |  |  | 1,377,087 |  |  |  | 3.59 |  |  | $ | 4.06 |  |  |  | 1,377,087 |  |  | $ | 4.06 |
$5.20 - $12.05 |  |  | 681,762 |  |  |  | 2.07 |  |  | $ | 6.57 |  |  |  | 681,762 |  |  | $ | 6.57 |
|  |  | 5,922,571 |  |  |  |  |  |  |  |  |  |  |  | 5,922,571 |
RSU's expected to vest | RSUs outstanding that have vested and are expected to vest as of March 31, 2018 are as follows:
|  | Number of RSUs |
Vested |  |  | 46,125 |
Expected to vest |  |  | 322,875 |
Total |  |  | 369,000 |
Summary of stock options outstanding | The following is a summary of the stock options outstanding at March 31, 2018 and 2017 and the changes during the years then ended:
|  | Fiscal Year Ended March 31, |
|  | 2018 |  | 2017 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Outstanding, beginning of year |  |  | 432,047 |  |  | $ | 10.98 |  |  |  | 438,547 |  |  | $ | 10.94 |
Granted |  |  | 34,500 |  |  | $ | 1.68 |  |  |  | – |  |  | $ | N/A |
Exercised |  |  | – |  |  |  | N/A |  |  |  | – |  |  | $ | N/A |
Cancelled/Forfeited |  |  | (57,500 | ) |  | $ | 15.87 |  |  |  | (6,500 | ) |  | $ | 7.96 |
Outstanding, end of year |  |  | 409,047 |  |  | $ | 9.51 |  |  |  | 432,047 |  |  | $ | 10.98 |
Exercisable, end of year |  |  | 382,047 |  |  | $ | 10.07 |  |  |  | 414,547 |  |  | $ | 11.24 |
Weighted average estimated fair value of options granted |  |  |  |  |  | $ | 1.46 |  |  |  |  |  |  | $ | N/A |
Detail of options outstanding and exercisable by exercise price | The detail of the options outstanding and exercisable as of March 31, 2018 is as follows:
|  | Options Outstanding |  |  | Options Exercisable |
Exercise Prices |  | Number Outstanding |  |  | Weighted Average Remaining Life (Years) |  |  | Weighted Average Exercise Price |  |  | Number Outstanding |  |  | Weighted Average Exercise Price |
$1.68 - $9.50 |  |  | 211,047 |  |  |  | 6.26 years |  |  | $ | 5.42 |  |  |  | 184,047 |  |  | $ | 5.96 |
$12.50 |  |  | 163,000 |  |  |  | 2.39 years |  |  | $ | 12.50 |  |  |  | 163,000 |  |  | $ | 12.50 |
$20.50 |  |  | 35,000 |  |  |  | 0.42 years |  |  | $ | 19.03 |  |  |  | 35,000 |  |  | $ | 19.03 |
|  |  | 409,047 |  |  |  |  |  |  |  |  |  |  |  | 382,047 |  |  |
Schedule of stock-based compensation | Our total stock-based compensation for fiscal years ended March 31, 2018 and 2017 included the following:
|  | Fiscal Year Ended |
|  | March 31, 2018 |  |  | March 31, 2017 |
Vesting of restricted stock units |  | $ | 1,212,794 |  |  | $ | 2,076,535 |
Vesting of stock options |  |  | 47,975 |  |  |  | 109,774 |
Total Stock-Based Compensation |  | $ | 1,260,769 |  |  | $ | 2,186,309 |

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- Definition Tabular disclosure for share-based compensation 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=96867065&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=96867065&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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -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 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for exercisable or convertible options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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