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5. EQUITY TRANSACTIONS (Tables) | 12 Months Ended
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Mar. 31, 2019
Equity [Abstract] |
Schedule of warrants issued | All of those warrants had a five year term and had exercise prices as follows:
Financing |  | Warrants Issued |  | Exercise Price
December 2019 Public Offering – Investors’ Warrants |  | 3,333,334 |  | $1.50
December 2019 Public Offering – Placement Agents’ Warrants |  | 100,000 |  | $1.875
January 2020 Registered Direct – Investors’ Warrants |  | 942,689 |  | $2.75
January 2020 Registered Direct – Placement Agents’ Warrants |  | 56,562 |  | $2.50
Summary of warrant activity | A summary of the aggregate warrant activity for the years ended March 31, 2020 and 2019 is presented below:
|  | Fiscal Year Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | Warrants |  |  | Weighted Average Exercise Price |  |  | Warrants |  |  | Weighted Average Exercise Price |
Outstanding, beginning of year |  |  | 342,992 |  |  | $ | 27.00 |  |  |  | 394,839 |  |  | $ | 27.00 |
Granted |  |  | 4,432,585 |  |  |  | 1.79 |  |  |  | – |  |  | $ | N/A |
Adjustment for reverse split |  |  | 73 |  |  |  | N/A |  |  |  | -- |  |  |  | N/A |
Exercised |  |  | (2,700,000 | ) |  | $ | 1.50 |  |  |  | (18,887 | ) |  | $ | 16.50 |
Cancelled/Forfeited |  |  | (54,282 | ) |  | $ | 91.23 |  |  |  | (32,960 | ) |  | $ | 42.60 |
Outstanding, end of year |  |  | 2,021,368 |  |  | $ | 5.21 |  |  |  | 342,992 |  |  | $ | 27.00 |
Exercisable, end of year |  |  | 2,021,368 |  |  | $ | 5.21 |  |  |  | 342,992 |  |  | $ | 27.00 |
Weighted average estimated fair value of warrants granted |  |  |  |  |  | $ | 1.22 |  |  |  |  |  |  |  | N/A |
Assumptions used for warrants granted | The following outlines the significant weighted average assumptions used to estimate the fair value of warrants granted in the fiscal year ended March 31, 2020 utilizing the Binomial Lattice option pricing model:
|  |  | Fiscal Year Ended |
|  |  | March 31, 2020 |
Risk free interest rate |  |  | 1.57% - 1.71% |
Average expected life |  |  | 5 years |
Expected volatility |  |  | 148.6% - 233.0% |
Expected dividends |  |  | None |
Summary of warrant activity exercisable and outstanding | The detail of the warrants outstanding and exercisable as of March 31, 2020 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 |
$2.75 or Below |  |  | 1,732,585 |  |  |  | 4.80 |  |  | $ | 2.23 |  |  |  | 1,732,585 |  |  | $ | 4.80 |
$16.50 - $59.25 |  |  | 249,985 |  |  |  | 2.07 |  |  | $ | 23.24 |  |  |  | 249,985 |  |  | $ | 2.07 |
$64.50 - $135.00 |  |  | 38,798 |  |  |  | 0.58 |  |  | $ | 92.48 |  |  |  | 38,798 |  |  | $ | 0.58 |
|  |  | 2,021,368 |  |  |  |  |  |  |  |  |  |  |  | 2,021,368 |  |  |  |  |
Summary of stock options outstanding | The following is a summary of the stock options outstanding at March 31, 2020 and 2019 and the changes during the years then ended:
|  | Fiscal Year Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | Options |  |  | Weighted Average Exercise Price |  |  | Options |  |  | Weighted Average Exercise Price |
Outstanding, beginning of year |  |  | 59,111 |  |  | $ | 56.85 |  |  |  | 27,670 |  |  | $ | 145.05 |
Granted |  |  | -- |  |  | $ | N/A |  |  |  | 36,842 |  |  | $ | 18.75 |
Exercised |  |  | – |  |  |  | N/A |  |  |  | – |  |  |  | N/A |
Cancelled/Forfeited |  |  | (7,987 | ) |  | $ | 138.75 |  |  |  | (5,400 | ) |  | $ | 248.25 |
Outstanding, end of year |  |  | 51,124 |  |  | $ | 44.12 |  |  |  | 59,111 |  |  | $ | 56.85 |
Exercisable, end of year |  |  | 25,197 |  |  | $ | 70.08 |  |  |  | 21,070 |  |  | $ | 125.40 |
Weighted average estimated fair value of options granted |  |  |  |  |  | $ | N/A |  |  |  |  |  |  | $ | 16.50 |
Detail of options outstanding and exercisable by exercise price | The detail of the options outstanding and exercisable as of March 31, 2020 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 |
| $18.75 - $25.20 |  |  |  | 38,642 |  |  |  | 7.89 years |  |  | $ | 19.05 |  |  |  | 12,715 |  |  | $ | 19.36 |
| $57.00 - $75.00 |  |  |  | 6,113 |  |  |  | 3.17 years |  |  | $ | 64.28 |  |  |  | 6,113 |  |  | $ | 64.28 |
| $142.50 - $187.50 |  |  |  | 6,369 |  |  |  | 1.38 years |  |  | $ | 176.90 |  |  |  | 6,369 |  |  | $ | 176.90 |
|  |  |  |  | 51,124 |  |  |  |  |  |  |  |  |  |  |  | 25,197 |  |  |  |  |
Schedule of stock-based compensation | Our total stock-based compensation for fiscal years ended March 31, 2020 and 2019 included the following:
|  | Fiscal Year Ended |
|  | March 31, 2020 |  |  | March 31, 2019 |
Vesting of restricted stock units |  | $ | 678,028 |  |  | $ | 1,262,794 |
Vesting of stock options |  |  | 165,970 |  |  |  | 56,207 |
Total Stock-Based Compensation |  | $ | 843,998 |  |  | $ | 1,319,001 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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