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5. EQUITY TRANSACTIONS (Tables)

12 Months Ended

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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