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9. STOCK COMPENSATION | 6 Months Ended
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Sep. 30, 2019
Share-based Payment Arrangement [Abstract] |
STOCK COMPENSATION | 9. STOCK COMPENSATION The following tables summarize share-based compensation expenses relating to RSUs and stock options and the effect on basic and diluted loss per common share during the three and six month periods ended September 30, 2019 and 2018:
|  | Three Months Ended September 30, 2019 |  |  | Three Months Ended September 30, 2018 |  |  | Six Months Ended September 30, 2019 |  |  | Six Months Ended September 30, 2018 |
Vesting of stock options and restricted stock units |  | $ | 326,536 |  |  | $ | 336,496 |  |  | $ | 653,072 |  |  | $ | 599,658 |
Total stock-based compensation expense |  | $ | 326,536 |  |  | $ | 336,496 |  |  | $ | 653,072 |  |  | $ | 599,658 |
Weighted average number of common shares outstanding – basic and diluted |  |  | 1,317,418 |  |  |  | 1,185,949 |  |  |  | 1,294,206 |  |  |  | 1,184,795 |
Basic and diluted loss per common share attributable to stock-based compensation expense |  | $ | (0.25 | ) |  | $ | (0.28 | ) |  | $ | (0.50 | ) |  | $ | (0.51 | )
All of the stock-based compensation expense recorded during the six months ended September 30, 2019 and 2018, which totaled $653,072 and $599,658, respectively, is included in payroll and related expense in the accompanying condensed consolidated statements of operations. Stock-based compensation expense recorded during the six months ended September 30, 2019 and 2018 represented an impact on basic and diluted loss per common share of $(0.50) and $(0.51), respectively. We review share-based compensation on a quarterly basis for changes to the estimate of expected award forfeitures based on actual forfeiture experience. The cumulative effect of adjusting the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments for the six months ended September 30, 2019 was insignificant. Stock Option Activity We did not issue any stock options during the six months ended September 30, 2019 and September 30, 2018. Options outstanding that have vested and are expected to vest as of September 30, 2019 are as follows:
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term in Years |
Vested |  |  | 13,684 |  |  | $ | 113.27 |  |  |  | 3.21 |
Expected to vest |  |  | 37,440 |  |  | $ | 18.85 |  |  |  | 8.24 |
Total |  |  | 51,124 |  |  |  |  |  |  |  |  |
A summary of stock option activity during the six months ended September 30, 2019 is presented below:
|  | Amount |  |  | Range of Exercise Price |  |  | Weighted Average Exercise Price |
Stock options outstanding at March 31, 2019 |  |  | 59,111 |  |  | $ | 18.75 - 187.50 |  |  | $ | 56.85 |
Adjustment for reverse split |  |  | 14 |  |  |  | n/a |  |  |  | n/a |
Exercised |  |  | – |  |  | $ | – |  |  | $ | – |
Granted |  |  | – |  |  | $ | – |  |  | $ | – |
Cancelled/Expired |  |  | (8,001 | ) |  | $ | 75.00 - 142.50 |  |  | $ | 138.75 |
Stock options outstanding at September 30, 2019 |  |  | 51,124 |  |  | $ | 18.75 - 187.50 |  |  | $ | 44.12 |
Stock options exercisable at September 30, 2019 |  |  | 13,684 |  |  | $ | 25.20 - 187.50 |  |  | $ | 113.27 |
On September 30, 2019, our stock options had no intrinsic value since the closing price on that date of $3.45 per share was below the weighted average exercise price of our outstanding stock options. At September 30, 2019, there was approximately $1,520,729 of unrecognized compensation cost related to share-based payments, which is expected to be recognized over a weighted average period of 1.2 years.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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