0001511164-15-000127.txt : 20150224 0001511164-15-000127.hdr.sgml : 20150224 20150224135401 ACCESSION NUMBER: 0001511164-15-000127 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20141231 FILED AS OF DATE: 20150224 DATE AS OF CHANGE: 20150224 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Rangeford Resources, Inc. CENTRAL INDEX KEY: 0001438035 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 770707050 STATE OF INCORPORATION: NV FISCAL YEAR END: 0404 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-54306 FILM NUMBER: 15642790 BUSINESS ADDRESS: STREET 1: 5215 N. O'CONNOR BOULEVARD, SUITE 1820 CITY: IRVING STATE: TX ZIP: 75039 BUSINESS PHONE: 212-732-7184 EXT 215 MAIL ADDRESS: STREET 1: 5215 N. O'CONNOR BOULEVARD, SUITE 1820 CITY: IRVING STATE: TX ZIP: 75039 10-Q/A 1 rgfr_amendmenttodec201410qto.htm FORM 10-Q/A RGFR_Amendment to Dec 2014 10-Q to file XBRL (00019851).DOCX

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549


FORM 10-Q/A

Amendment No. 1


[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934


For the quarterly period ended December 31, 2014


[  ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE EXCHANGE ACT


For the transition period from __________ to ___________


Commission File Number: 000-54306


RANGEFORD RESOURCES, INC.

(Exact name of registrant as specified in its charter)



 

 

Nevada

77-1176182

(State or other jurisdiction of incorporation or organization)

(IRS Employer Identification No.)



556 Silicon Drive, Suite 103, Southlake, TX 76092

(Address of principal executive offices)


817-648-8062

(Registrant's Telephone number)


____________________________________________________

(Former Address and phone of principal executive offices)


Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days. [  ] Yes  [X] No


Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 for Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). [  ] Yes  [X] No


Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company:


 

 

 

 

Large accelerated filer

[  ]

Accelerated filer

[  ]

Non-accelerated filer

[  ]

Smaller reporting company

[X]


Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). [   ] Yes  [X] No


As of February 18, 2015, there were 19,993,963 shares of the registrant’s common stock issued and outstanding.



1



Explanatory Note


Rangeford Resources, Inc. (the “Company”) is filing this Amendment No. 1 on Form 10-Q/A (the “Amendment”) to the Company’s quarterly report on Form 10-Q for the period ended December 31, 2014 (the “Form 10-Q”), filed with the Securities and Exchange Commission on February 23, 2015 (the “Original Filing Date”), solely to file Exhibit 101 to the Form 10-Q in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from the Company’s Form 10-Q, formatted in XBRL (eXtensible Business Reporting Language):


 

 

 

  

101.INS

XBRL Instance Document

  

101.SCH

XBRL Taxonomy Schema

  

101.CAL

XBRL Taxonomy Calculation Linkbase

  

101.DEF

XBRL Taxonomy Definition Linkbase

  

101.LAB

XBRL Taxonomy Label Linkbase

  

101.PRE

XBRL Taxonomy Presentation Linkbase


No other changes have been made to the Form 10-Q. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-Q.



2





Item 6.      Exhibits


 

 

 

Exhibit Number

 

Description

31.1*

 

Certification of Chief Executive Officer required by Rule 13a-14/15d-14(a) under the Exchange Act

31.2*

 

Certification of Chief Financial Officer required by Rule 13a-14/15d-14(a) under the Exchange Act

32.1*

 

Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2*

 

Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.


 

 

101.INS*

XBRL Instance Document

101.SCH*

RL Taxonomy Extension Schema Document

101.CAL*

XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF*

XBRL Taxonomy Extension Definition Linkbase Document

101.LAB*

XBRL Taxonomy Extension Label Linkbase Document

101.PRE*

XBRL Taxonomy Extension Presentation Linkbase Document


* Filed herewith.

 





3



Signatures


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.




 

 

 

  

RANGEFORD RESOURCES, INC.

  

  

  

Dated: February 24, 2015

By:

/s/ Colin Richardson

  

  

Colin Richardson

  

  

Chief Executive Officer, President, Principal Executive Officer and Principal Financial and Accounting Officer






4



EX-31.1 2 exhibit311.htm CERTIFICATION OF CHIEF EXECUTIVE OFFICER REQUIRED BY RULE 13A-14/15D-14(A) UNDER THE EXCHANGE ACT Converted by EDGARwiz

EXHIBIT 31.1


SECTION 302 CERTIFICATION OF PERIODIC REPORT


I, Colin Richardson, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Rangeford Resources, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. As the registrant's sole certifying officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under  our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is  made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's 4th quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

5. As the registrant's certifying officer, I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 Date: February 24, 2015


By: __/s/ Colin Richardson

Colin Richardson

President & CEO





EX-31.2 3 exhibit312.htm CERTIFICATION OF CHIEF FINANCIAL OFFICER REQUIRED BY RULE 13A-14/15D-14(A) UNDER THE EXCHANGE ACT Converted by EDGARwiz

EXHIBIT 31.2


SECTION 302 CERTIFICATION OF PERIODIC REPORT


I, Colin Richardson, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Rangeford Resources, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. As the registrant's sole certifying officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under  our supervision to ensure that material information relating to the registrant, including its consolidated subsidiaries, is  made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's 4th quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

5. As the registrant's certifying officer, I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: February 24, 2015

By: /s/ Colin Richardson

Colin Richardson

Principal Financial Officer




EX-32.1 4 exhibit321.htm CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Converted by EDGARwiz

Exhibit 32.1


CERTIFICATION OF DISCLOSURE PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Rangeford Resources, Inc. (the "Company") on Form 10-Q for the period ending December 31, 2014 as filed with the Securities and Exchange Commission on the date hereof (the "Report") I, Colin Richardson, President and CEO of the Company, certify, pursuant to 18 USC section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.


Dated: February 24, 2015



By: /s/ Colin Richardson

Colin Richardson

President & CEO



This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.




EX-32.2 5 exhibit322.htm CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 Converted by EDGARwiz

Exhibit 32.2


CERTIFICATION OF DISCLOSURE PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



In connection with the Quarterly Report of Rangeford Resources, Inc. (the "Company") on Form 10-Q for the period ending December 31, 2014 as filed with the Securities and Exchange Commission on the date hereof (the "Report") I, Colin Richardson, Principal Financial Officer of the Company, certify, pursuant to 18 USC section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge and belief:


(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and


(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.




Dated: February 24, 2015



By: /s/ Colin Richardson

Colin Richardson

Principal Financial Officer



This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.




EX-101.INS 6 rgfr-20141231.xml XBRL INSTANCE DOCUMENT 115 173 19568 101271 19683 101444 36557 36557 56240 138001 591435 546047 31211 18128 6872 550914 368226 1191688 921145 182 182 160000 19994 19833 5655675 3826914 -6971299 -4630073 -1135448 -783144 56240 138001 0.001 0.001 75000000 75000000 19993963 19833385 19993963 19833385 0.001 0.001 3000000 3000000 182000 182000 182000 182000 12536 37403 138676 45119 1823154 110223 60000 618111 373540 1141967 15806 2544 51574 39222 214482 678310 2248268 1328815 -214482 -678310 -2248268 -1328815 32800 29897 92958 44679 32800 29897 92958 44679 -247282 -708207 -2341226 -1373494 -247282 -708207 -91378 -64632 -247282 -708207 -2432604 -1438126 -0.01 -0.04 -0.12 -0.08 20036284 19725875 19938952 18722227 -2341226 -1373494 422447 341473 81703 35778 387080 544294 1179395 8381 24375 45388 120259 31211 11256 521 -182746 -298413 182688 310066 182688 310066 -58 11653 173 115 11653 108381 164338 91378 16570 10-Q 2014-12-31 false Rangeford Resources, Inc. 0001438035 --03-31 19993963 Smaller Reporting Company Yes No No 2015 Q3 <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 1 &#150; CONDENSED FINANCIAL STATEMENTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (US GAAP) for interim financial information, with the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements.&#160; The accompanying financial statements at December 31, 2014 and 2013 and for the Nine months ended December 31, 2014 and 2013 contain all normally recurring adjustments considered necessary for a fair presentation of our financial position, results of operations, cash flows and shareholders&#146; equity for such periods.&#160; Operating results for the nine months ended December 31, 2014 are not necessarily indicative of the results that may be expected for the year ending March 31, 2015.&#160; The unaudited consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company's annual report for the year ended March 31, 2014, as amended.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p><b><font lang="EN-US">Reclassifications</font></b></p> <p>&nbsp;</p> <p style='text-align:justify'><font lang="EN-US">Certain amounts in the December 31, 2013 financial statements have been reclassified to conform to the December 31, 2014 presentation.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 2 &#150; GOING CONCERN</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The Company&#146;s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs, which raises substantial doubt about the Company&#146;s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management&#146;s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-US">NOTE 3 &#150; RECENT ACCOUNTING PRONOUNCEMENTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On June 10, 2014, FASB issued Accounting Standards Update No. 2014-10, <i>Development Stage Entities</i>. The update removes the definition of a development stage entity from FASB ASC 915 and eliminates the requirement for development stage entities to present inception-to-date information on the statements of operations, cash flows and stockholders&#146; deficit. Earlier the Company elected to adopt this standard for the period covered by the report herein.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><b><font lang="EN-US" style='text-transform:uppercase'>Note 4 &#150; DEBT ISSUANCE COSTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:normal'><font lang="EN-US">On September 4, 2013, the Company received a $</font><font lang="EN-US">750,000 </font><font lang="EN-US">Revolving Credit Note (the &#147;Cicerone Revolving Note&#148;) from Cicerone Corporate Development, LLC, a related party, (&#147;Cicerone&#148;).&#160; The Cicerone Revolving Note matured on </font><font lang="EN-US">February 1, 2015 </font><font lang="EN-US">and </font><font lang="EN-US">bears interest at the rate of LIBOR plus </font><font lang="EN-US">2.75</font><font lang="EN-US">% </font><font lang="EN-US">per annum, which is payable semi-annually on June 30 and December 31 of each year. As an inducement to entering into the Cicerone Revolving Note, the Company issued Cicerone </font><font lang="EN-US">1,500,000 </font><font lang="EN-US">shares </font><font lang="EN-US">of common stock.&#160; The shares of unregistered common stock had a relative fair value of approximately $164,338 as of September 4, 2013, which is being amortized over the term of the note as additional interest expense. Additional interest expense of $28,576 and $81,703 was recorded in the Company&#146;s statements of operations for the three and nine months ended December 31, 2014, respectively. Additional interest expense of $27,895 and $35,778 was recorded in the Company&#146;s statements of operations for the three and nine months ended December 31, 2013, respectively.&#160; On January 29, 2014, the maturity of the Revolving Credit Note was extended to February 1, 2017 on the same terms and conditions.&#160; The extension was accounted for as a modification.&#160;&#160; All previously capitalized debt issuance costs had been fully amortized at the date of the modification and no additional fees were incurred. Cicerone is a stockholder of the Company. (see note 5)</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US" style='text-transform:uppercase'>Note 5 &#150; Related Party Notes Payable and Advances</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On November 1, 2012, the Company entered into a note agreement with a shareholder, and former director Mr. Hadley, pursuant to which the Company borrowed $</font><font lang="EN-US">100,000 </font><font lang="EN-US">from the shareholder which was payable in 60 days with interest at </font><font lang="EN-US">6</font><font lang="EN-US">% per annum (the &#147;Hadley Note&#148;). &nbsp;Proceeds from the Hadley Note were paid directly to Great Northern Energy as a deposit to purchase certain oil and gas assets.&#160; The Hadley Note was payable in 60 days with interest at 6% per annum. &nbsp;In accordance with the terms of the note, the Company agreed to issue </font><font lang="EN-US">250,000 </font> <font lang="EN-US">shares of unregistered common stock to the shareholder. &nbsp;The shares of unregistered common stock had a relative fair value of approximately $</font><font lang="EN-US">71,631 </font><font lang="EN-US">as of November 1, 2012, which was recorded as additional interest expense over the 60 day term of the note.&#160; As of December 31, 2014, all </font><font lang="EN-US">250,000 </font><font lang="EN-US">shares were issued to Mr. Hadley.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">Upon the Company&#146;s receipt of a Subscription Agreement and pursuant to a request from Mr. Hadley, on September 27, 2013, the Company&#146;s Board of Directors approved via unanimous written consent to convert the Hadley Note into 20,000 shares of the Company&#146;s Series A Preferred Stock; on the same day, 20,000 shares of Series A Preferred Stock were issued to Mr. Hadley. Pursuant to the conversion of the Hadley Note, the Company would not have any further liability to Mr. Hadley thereunder.&nbsp;&nbsp; Mr. Hadley has informed the Company that he does not agree with the history and current status of the Hadley Note and therefore the parties are currently discussing a resolution.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">No gain or loss was recognized on settlement of the debt because the fair value of the preferred stock issued is equal to the carrying value of the debt. The Company recognized and measured an aggregate of $</font><font lang="EN-US">64,632 </font><font lang="EN-US">of the proceeds, which is equal to the intrinsic value of the embedded beneficial conversion feature, to additional paid-in capital and a discount against the Preferred Stock. The preferred stock discount of $</font><font lang="EN-US">64,632</font><font lang="EN-US">, attributed to the beneficial conversion feature, is recognized as a deemed preferred stock dividend.&#160; Additionally the Company will recognize the value attributable to the warrants in the amount of $</font><font lang="EN-US">89,837 </font><font lang="EN-US">to additional paid in capital and a discount against the preferred stock upon the conversion of the preferred stock into warrants.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On November 28, 2012, the CE McMillan Family Trust (the &quot;CE Trust&quot;) advanced the Company $</font><font lang="EN-US">100</font><font lang="EN-US"> to facilitate the opening of a new bank account in Irving, Texas. The trustee of the C.E. McMillan Family Trust is also the managing member of Fidare Consulting Group, LLC (&quot;Fidare&quot;) and Cicerone Corporate Development, LLC (&quot;Cicerone&quot;).<b> &nbsp;</b>The advance had not been repaid as of December 31, 2014. &nbsp;</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">Fidare paid certain travel, SEC filing expenses and other expenses on behalf of the Company during the three and nine month periods ended December 31, 2014, aggregating $</font><font lang="EN-US">2,966 </font><font lang="EN-US">and $</font><font lang="EN-US">25,223</font><font lang="EN-US">, respectively.&#160; The amounts have not been paid as of December 31, 2014 and are included in Accounts Payable-related party.&#160; </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">At various times Cicerone advanced funds to or paid operating expenses on behalf of the Company under the Cicerone Revolving Note. &nbsp;During the three and nine months ended December 31, 2014, advances under the Cicerone Revolving Note were $</font><font lang="EN-US">6,945 </font><font lang="EN-US">and $</font><font lang="EN-US">182,688</font><font lang="EN-US">, respectively.&#160; During the three and nine months ended December 31, 2013, advances under the Cicerone Revolving Note were $</font><font lang="EN-US">177,000 </font><font lang="EN-US">and $</font><font lang="EN-US">310,066</font><font lang="EN-US">, respectively.&#160; As of December 31, 2014, the outstanding balance of the Cicerone Revolving Note was $</font><font lang="EN-US">550,914</font><font lang="EN-US">.&#160; The Company has not made any interest payments which are payable semi-annually on June 30 and December 31.&#160; As of December 31, 2014, accrued and unpaid interest on the Cicerone Revolving Note was $</font><font lang="EN-US">18,128</font><font lang="EN-US">.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;text-align:justify'><font lang="EN-US">Harry McMillan is trustee of the C.E. McMillan Family Trust, which Trust serves as the managing member of Fidare Consulting Group, LLC (&#147;Fidare&#148;) and Cicerone Corporate Development, LLC (&#147;Cicerone&#148;). Mr. McMillan is the Trustee for the benefit of his wife, Christy McMillan and their children, and is also a member of each of Fidare and Cicerone.&#160; Each of these entities, as well as certain beneficiaries of the Trust, own shares of our common stock and therefore, Mr. McMillan and the Trust may be deemed to beneficially own such shares. Each disclaims beneficial ownership of such shares. </font>The Company believes, although the shareholdings received pursuant to the various agreements may not exceed the required thresholds, Mr. McMillan is a related party.</p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 6 &#150; RELATED PARTY TRANSACTIONS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='text-align:justify'><u><font lang="EN-US">Professional Services</font></u></p> <p style='text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">In September 2012, the Company entered into a professional services contract with Fidare to provide consulting services relating to corporate governance, accounting procedures and controls and strategic planning. &nbsp;In accordance with the terms of the original contract, Fidare received monthly compensation of 20,000 common shares per month and warrants to purchase 20,000 common shares with an exercise price equal to the closing sale price of the Company&#146;s common stock on the date of issuance, plus reasonable and necessary expenses. &nbsp;The warrants are exercisable at any time for two years from the date of issuance and may be settled on a net basis. &nbsp;In December 2012, the contract was amended to provide for monthly compensation of $20,000 per month plus warrants to purchase 20,000 common shares on the same terms described above. </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The Consulting Agreement with Fidare was terminated on February 28, 2013 with an effective date of April 4, 2013.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On June 26, 2013, the Company entered into a new Consulting Agreement with Fidare to provide consulting services relating to corporate governance, accounting procedures and control and strategic planning &nbsp;In accordance with the terms of the Consulting Agreement, Fidare receives monthly compensation of shares of common stock valued at $</font><font lang="EN-US">20,000 </font><font lang="EN-US">based on the price at the close on the last trading day of each month and </font><font lang="EN-US">20,000 </font><font lang="EN-US">warrants to purchase common stock, with each warrant having an exercise price equal to the closing sale price of the Common Stock on the date of issue and providing for a cashless or net issue exercise.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On July 1, 2014, the Consulting Agreement with Fidare was amended so Fidare will receive only monthly compensation shares of common stock valued at $</font><font lang="EN-US">20,000 </font><font lang="EN-US">based on the price at the close on the last trading day of each month. The managing member of Fidare is the C.E. McMillan Family Trust. &nbsp;Harry McMillan is trustee of the C.E. McMillan Family Trust.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">For the three and nine month periods ended December 31, 2014, the Company recognized $</font><font lang="EN-US">60,000 </font><font lang="EN-US">and $</font><font lang="EN-US">373,540 </font><font lang="EN-US">in Professional fees- related party expenses that were paid or are payable in shares of stock and warrants.&#160;&#160; As of December 31, 2014, the Company is obligated to issue Fidare </font><font lang="EN-US">46,575</font><font lang="EN-US"> share of the Company&#146;s common stock under these agreements.&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">For the three and nine month periods ended December 31, 2013, the Company recognized $</font><font lang="EN-US">256,056 </font><font lang="EN-US">and $</font><font lang="EN-US">468,239 </font><font lang="EN-US">in Professional fees- related party expenses that were paid in shares of stock and warrants.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 7 &#150; WARRANTS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The fair value of each warrant granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The expected term of warrants granted is estimated at the contractual term as noted in the individual warrant agreements and represents the period of time that warrants granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the warrant is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the warrants.</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">A summary of warrant activity as of December 31, 2014 and changes during the period then ended are presented below:</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="48%" style='width:48.68%;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected volatility</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">207</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected dividends</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font><font lang="EN-US">&nbsp;&nbsp;</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected term (in years)</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2</font><font lang="EN-US">&nbsp;&nbsp;</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Risk-free rate</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0.42</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> </table> </div> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="97%" style='width:97.32%;border-collapse:collapse'> <tr style='height:60.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Stock Warrants</font></u></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Warrants</font></u></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 280,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">5.24</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 120,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">4.40</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; 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0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: &#160;December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 400,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Warrants exercisable at December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 400,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">No Warrant expense recognized during the three months ended December 31, 2014.&#160; Warrant expense of $</font><font lang="EN-US">193,540 </font><font lang="EN-US">and $193,540 was included in Professional fees and Professional Fees-related party, respectively, for the nine months ended December 31, 2014.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US">NOTE 8 &#150; OPTIONS</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history. </font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">The expected term of options granted is estimated at the contractual term as noted in the individual option agreements and represents the period of time that options granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the option is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the options.</font></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt'><font lang="EN-US">A summary of option activity as of December 31, 2014 and changes during the period then ended are presented below:</font></p> <p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="95%" style='border-collapse:collapse'> <tr style='height:60.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-top:0in;margin-right:48.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Options</font></u></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Options</font></u></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $</font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 308,000</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $</font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; </font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; </font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: &#160;December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 308,000</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $</font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Options exercisable at December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; </font><font lang="EN-US">308,000</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2.299</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> 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lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> </td> </tr> </table> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">No Option expense was recognized during the three months ended December 31, 2014.&#160; Option expense of $</font><font lang="EN-US">1,179,395 </font><font lang="EN-US">was included in professional fees for the nine months ended December 31, 2014.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'><b><font lang="EN-US" style='text-transform:uppercase'>note 9 &#150; common stock</font></b></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">During the quarter ended June 30, 2014, the Company issued Fidare 13,846 shares of common stock valued at $60,000 for services (see note 6).</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">During the quarter ended June 30, 2014, the Company issued Mr. Colin Richardson, Chief Executive Officer and President (&#147;Mr.&#160; Richardson&#148;), 13,846 shares of common stock valued at $60,000 for services (see note 6).</font></p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <p style='margin:0in;margin-bottom:.0001pt;text-align:justify'><font lang="EN-US">On August 7, 2014, the Company issued PT Platinum Consulting, LLC </font><font lang="EN-US">38,686</font><font lang="EN-US"> shares of common stock valued at $62,447 to settle outstanding invoices for professional services.&#160; The number of shares were determined based on the closing price of the stock on the date of the agreement.&#160; </font></p> <p 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letter dated December 17, 2012 from Dr. Steven Henson to Michael Farmer, who at time was not a director or officer of Rangeford, with regard to our offering of up to $</font><font lang="EN-US">3,000,000 </font><font lang="EN-US">of our preferred stock in connection with our proposed acquisition of certain properties from Great Northern Energy, Inc. &nbsp;In the letter, Dr. Henson, who at the time was the President and Chairman of the Board of Rangeford, purports to grant a right of rescission to certain investors in the event that we were unable to raise the full amount of funds necessary to acquire the subject properties from Great Northern Energy. &nbsp;This right of rescission was never approved by our Board of Directors and it is our position that Dr. Henson acted without proper authority in providing the letter to Mr. Farmer, as the representative of certain investors. &nbsp;At this point no claim has been made by any of the investors, who invested approximately $300,000 into Rangeford and we have no reason to assume that a claim will ultimately be made.</font></p> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <div align="center"> <table border="0" cellspacing="0" cellpadding="0" width="48%" style='width:48.68%;border-collapse:collapse'> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected volatility</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">207</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected dividends</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font><font lang="EN-US">&nbsp;&nbsp;</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Expected term (in years)</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2</font><font lang="EN-US">&nbsp;&nbsp;</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">Risk-free rate</font></p> </td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0.42</font><font lang="EN-US">%</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="76%" style='width:76.94%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="23%" style='width:23.06%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> </table> </div> <!--egx--><p style='margin:0in;margin-bottom:.0001pt;text-align:justify'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="97%" style='width:97.32%;border-collapse:collapse'> <tr style='height:60.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><u><font 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style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 280,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">5.24</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 120,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">4.40</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: &#160;December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 400,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:16.8pt'> <td width="39%" valign="bottom" style='width:39.86%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Warrants exercisable at December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160; 400,000</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="13%" valign="bottom" style='width:13.26%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">4.99</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.34%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2</font></p> </td> <td width="2%" valign="top" style='width:2.38%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="16%" valign="bottom" style='width:16.92%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">0</font></p> </td> </tr> </table> <!--egx--><p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p> <table border="0" cellspacing="0" cellpadding="0" width="95%" style='border-collapse:collapse'> <tr style='height:60.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-top:0in;margin-right:48.5pt;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;line-height:normal'><u><font lang="EN-US">Options</font></u></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Number of Options</font></u></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Exercise Price</font></u></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Weighted Average Remaining Contractual Term (in years)</font></u></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:60.0pt'> <p align="center" style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-align:center;line-height:normal'><u><font lang="EN-US">Aggregate Intrinsic Value</font></u></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: April 1, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $</font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Granted</font></p> </td> <td width="10%" 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5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">2.6</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; $</font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> </td> </tr> <tr style='height:15.0pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Exercised</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font lang="EN-US">-</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;padding:0in 5.4pt 0in 5.4pt;height:15.0pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; </font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Expired</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;border:none;border-bottom:solid windowtext 1.0pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font lang="EN-US">&#160;&#160; </font><font lang="EN-US">-</font><font lang="EN-US">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font></p> </td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="10%" valign="bottom" style='width:10.48%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.18%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="12%" valign="bottom" style='width:12.86%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> <td width="2%" valign="top" style='width:2.6%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'>&nbsp;</p> </td> <td width="14%" valign="bottom" style='width:14.68%;border:none;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'></td> </tr> <tr style='height:16.8pt'> <td width="40%" valign="bottom" style='width:40.0%;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;text-indent:10.0pt;line-height:normal'><font lang="EN-US">Balance: &#160;December 31, 2014</font></p> </td> <td width="10%" valign="bottom" style='width:10.48%;border:none;border-bottom:double windowtext 1.5pt;padding:0in 5.4pt 0in 5.4pt;height:16.8pt'> <p style='margin-top:0in;margin-right:0in;margin-bottom:10.0pt;margin-left:0in;line-height:115%;margin-bottom:0in;margin-bottom:.0001pt;line-height:normal'><font 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Note 8 - Options: Schedule of Share-based Compensation, Stock Options, Activity (Details) (Options, USD $)
9 Months Ended
Dec. 31, 2014
Options
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number 308,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price $ 2.299us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures 308,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm 2.299fil_Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsgrantedweightedaverageremainingcontractualterm1
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm 2.6fil_Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsgrantedweightedaverageremainingcontractualterm
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term 2.6us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number 308,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price $ 2.299us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
Weighted Average Remaining Contractual Term Exercisable 2.6fil_WeightedAverageRemainingContractualTermExercisable
/ fil_WarrantsAndOptionsAxis
= fil_OptionsMember
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Note 4 - Debt Issuance Costs
9 Months Ended
Dec. 31, 2014
Notes  
Note 4 - Debt Issuance Costs

Note 4 – DEBT ISSUANCE COSTS

 

On September 4, 2013, the Company received a $750,000 Revolving Credit Note (the “Cicerone Revolving Note”) from Cicerone Corporate Development, LLC, a related party, (“Cicerone”).  The Cicerone Revolving Note matured on February 1, 2015 and bears interest at the rate of LIBOR plus 2.75% per annum, which is payable semi-annually on June 30 and December 31 of each year. As an inducement to entering into the Cicerone Revolving Note, the Company issued Cicerone 1,500,000 shares of common stock.  The shares of unregistered common stock had a relative fair value of approximately $164,338 as of September 4, 2013, which is being amortized over the term of the note as additional interest expense. Additional interest expense of $28,576 and $81,703 was recorded in the Company’s statements of operations for the three and nine months ended December 31, 2014, respectively. Additional interest expense of $27,895 and $35,778 was recorded in the Company’s statements of operations for the three and nine months ended December 31, 2013, respectively.  On January 29, 2014, the maturity of the Revolving Credit Note was extended to February 1, 2017 on the same terms and conditions.  The extension was accounted for as a modification.   All previously capitalized debt issuance costs had been fully amortized at the date of the modification and no additional fees were incurred. Cicerone is a stockholder of the Company. (see note 5)

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M;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`@(#QT9"!C;&%S7!E.B!T97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\ M:'1M;#X-"B`@/&AE860^#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E M;G0M5'EP92!C;VYT96YT/3-$)W1E>'0O:'1M;#L@8VAA7!E.B!T M97AT+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\>&UL('AM;&YS.F\] M,T0B=7)N.G-C:&5M87,M;6EC XML 18 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 10 - Commitments and Contingencies (Details) (USD $)
Dec. 31, 2014
Mar. 31, 2014
Dec. 17, 2012
Details      
Series A Convertible Preferred Stock $ 182us-gaap_PreferredStockValue [1] $ 182us-gaap_PreferredStockValue [1] $ 3,000,000us-gaap_PreferredStockValue
[1] $0.001 par value; stated value $5.00 per share; 3,000,0000 shares authorized; 182,000 shares issued and outstanding
XML 19 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 3 - Recent Accounting Pronouncements
9 Months Ended
Dec. 31, 2014
Notes  
Note 3 - Recent Accounting Pronouncements

NOTE 3 – RECENT ACCOUNTING PRONOUNCEMENTS

 

On June 10, 2014, FASB issued Accounting Standards Update No. 2014-10, Development Stage Entities. The update removes the definition of a development stage entity from FASB ASC 915 and eliminates the requirement for development stage entities to present inception-to-date information on the statements of operations, cash flows and stockholders’ deficit. Earlier the Company elected to adopt this standard for the period covered by the report herein.

XML 20 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
Rangeford Resources, Inc. - Balance Sheets (USD $)
Dec. 31, 2014
Mar. 31, 2014
Current Assets:    
Cash $ 115us-gaap_Cash $ 173us-gaap_Cash
Debt Issuance Cost- net of amortization 19,568fil_DebtIssuanceCost1 [1] 101,271fil_DebtIssuanceCost1 [1]
TOTAL CURRENT ASSETS 19,683us-gaap_AssetsCurrent 101,444us-gaap_AssetsCurrent
Deposit 36,557us-gaap_Deposits 36,557us-gaap_Deposits
Total Assets 56,240us-gaap_Assets 138,001us-gaap_Assets
Current Liabilities:    
Accounts payable 591,435us-gaap_AccountsPayableCurrent 546,047us-gaap_AccountsPayableCurrent
Accounts payable, related party 31,211us-gaap_AccountsPayableRelatedPartiesCurrent  
Accrued interest payable, related party 18,128us-gaap_DepositLiabilitiesAccruedInterest 6,872us-gaap_DepositLiabilitiesAccruedInterest
Related party advances and notes payable 550,914us-gaap_NotesPayableCurrent 368,226us-gaap_NotesPayableCurrent
TOTAL CURRENT LIABILITIES 1,191,688us-gaap_LiabilitiesCurrent 921,145us-gaap_LiabilitiesCurrent
Stockholders' Deficit    
Series A Convertible Preferred Stock 182us-gaap_PreferredStockValue [2] 182us-gaap_PreferredStockValue [2]
Common Stock to be issued 160,000us-gaap_CommonStockSharesSubscribedButUnissued  
Common Stock 19,994us-gaap_CommonStockValue [3] 19,833us-gaap_CommonStockValue [3]
Additional paid-in capital 5,655,675us-gaap_AdditionalPaidInCapital 3,826,914us-gaap_AdditionalPaidInCapital
Retained deficit (6,971,299)us-gaap_RetainedEarningsAccumulatedDeficit (4,630,073)us-gaap_RetainedEarningsAccumulatedDeficit
Total Stockholders' Deficit (1,135,448)us-gaap_StockholdersEquity (783,144)us-gaap_StockholdersEquity
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 56,240us-gaap_LiabilitiesAndStockholdersEquity $ 138,001us-gaap_LiabilitiesAndStockholdersEquity
[1] See Note 4
[2] $0.001 par value; stated value $5.00 per share; 3,000,0000 shares authorized; 182,000 shares issued and outstanding
[3] $0.001 par value; 75,000,000 shares authorized; 19,993,963 and 19,833,385 shares issued and outstanding
XML 21 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 1 - Condensed Financial Statements
9 Months Ended
Dec. 31, 2014
Notes  
Note 1 - Condensed Financial Statements

NOTE 1 – CONDENSED FINANCIAL STATEMENTS

 

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the US (US GAAP) for interim financial information, with the instructions to Form 10-Q, and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by US GAAP for complete financial statements.  The accompanying financial statements at December 31, 2014 and 2013 and for the Nine months ended December 31, 2014 and 2013 contain all normally recurring adjustments considered necessary for a fair presentation of our financial position, results of operations, cash flows and shareholders’ equity for such periods.  Operating results for the nine months ended December 31, 2014 are not necessarily indicative of the results that may be expected for the year ending March 31, 2015.  The unaudited consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company's annual report for the year ended March 31, 2014, as amended.

 

Reclassifications

 

Certain amounts in the December 31, 2013 financial statements have been reclassified to conform to the December 31, 2014 presentation.

XML 22 R22.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 7 - Warrants: Schedule of Derivative Liabilities at Fair Value (Details) (Warrants)
9 Months Ended
Dec. 31, 2014
Warrants
 
Fair Value Assumptions, Expected Volatility Rate 207.00%us-gaap_FairValueAssumptionsExpectedVolatilityRate
/ fil_WarrantsAndOptionsAxis
= fil_Warrants1Member
Fair Value Assumptions, Expected Dividend Rate 0.00%us-gaap_FairValueAssumptionsExpectedDividendRate
/ fil_WarrantsAndOptionsAxis
= fil_Warrants1Member
Fair Value Assumptions, Expected Term 2 years
Fair Value Assumptions, Risk Free Interest Rate 0.42%us-gaap_FairValueAssumptionsRiskFreeInterestRate
/ fil_WarrantsAndOptionsAxis
= fil_Warrants1Member
XML 23 R24.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 7 - Warrants (Details) (USD $)
9 Months Ended
Dec. 31, 2014
Details  
Warrant Expense $ 193,540fil_WarrantExpense
XML 24 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 25 R7.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 2 - Going Concern
9 Months Ended
Dec. 31, 2014
Notes  
Note 2 - Going Concern

NOTE 2 – GOING CONCERN

 

The Company’s financial statements are prepared using generally accepted accounting principles in the United States of America applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has not yet established an ongoing source of revenues sufficient to cover its operating costs, which raises substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses until it becomes profitable. If the Company is unable to obtain adequate capital, it could be forced to cease operations.

 

In order to continue as a going concern, the Company will need, among other things, additional capital resources. Management’s plan is to obtain such resources for the Company by obtaining capital from management and significant shareholders sufficient to meet its minimal operating expenses and seeking equity and/or debt financing. However management cannot provide any assurances that the Company will be successful in accomplishing any of its plans.

 

The ability of the Company to continue as a going concern is dependent upon its ability to successfully accomplish the plans described in the preceding paragraph and eventually secure other sources of financing and attain profitable operations. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

XML 26 R3.htm IDEA: XBRL DOCUMENT v2.4.1.9
Statement of Financial Position - Parenthetical (USD $)
Dec. 31, 2014
Mar. 31, 2014
Statement of Financial Position    
Common Stock, Par Value $ 0.001us-gaap_CommonStockParOrStatedValuePerShare $ 0.001us-gaap_CommonStockParOrStatedValuePerShare
Common Stock, Shares Authorized 75,000,000us-gaap_CommonStockSharesAuthorized 75,000,000us-gaap_CommonStockSharesAuthorized
Common Stock, Shares Issued 19,993,963us-gaap_CommonStockSharesIssued 19,833,385us-gaap_CommonStockSharesIssued
Common Stock, Shares Outstanding 19,993,963us-gaap_CommonStockSharesOutstanding 19,833,385us-gaap_CommonStockSharesOutstanding
Preferred Stock, Par Value $ 0.001us-gaap_PreferredStockParOrStatedValuePerShare $ 0.001us-gaap_PreferredStockParOrStatedValuePerShare
Preferred Stock, Shares Authorized 3,000,000us-gaap_PreferredStockSharesAuthorized 3,000,000us-gaap_PreferredStockSharesAuthorized
Preferred Stock, Shares Issued 182,000us-gaap_PreferredStockSharesIssued 182,000us-gaap_PreferredStockSharesIssued
Preferred Stock, Shares Outstanding 182,000us-gaap_PreferredStockSharesOutstanding 182,000us-gaap_PreferredStockSharesOutstanding
XML 27 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 7 - Warrants: Schedule of Share Based Compensation Stock Warrants Activity Table (Tables)
9 Months Ended
Dec. 31, 2014
Tables/Schedules  
Schedule of Share Based Compensation Stock Warrants Activity Table

 

Stock Warrants

Number of Warrants

 

Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (in years)

 

Aggregate Intrinsic Value

 

 

 

Balance: April 1, 2014

  280,000

 

   $         5.24

 

               2

 

   $                       0

 

 

 

Granted

  120,000

 

   $         4.40

 

               2

 

   $                       0

Exercised

                -

 

   $                -

 

 

   $                        -

Expired

                -

 

                     -

 

 

                             -

 

 

 

Balance:  December 31, 2014

  400,000

 

   $         4.99

 

               2

 

   $                       0

 

 

 

Warrants exercisable at December 31, 2014

  400,000

 

   $         4.99

 

               2

 

   $                       0

XML 28 R1.htm IDEA: XBRL DOCUMENT v2.4.1.9
Document and Entity Information
9 Months Ended
Dec. 31, 2014
Document and Entity Information:  
Entity Registrant Name Rangeford Resources, Inc.
Document Type 10-Q
Document Period End Date Dec. 31, 2014
Amendment Flag false
Entity Central Index Key 0001438035
Current Fiscal Year End Date --03-31
Entity Common Stock, Shares Outstanding 19,993,963dei_EntityCommonStockSharesOutstanding
Entity Filer Category Smaller Reporting Company
Entity Current Reporting Status Yes
Entity Voluntary Filers No
Entity Well-known Seasoned Issuer No
Document Fiscal Year Focus 2015
Document Fiscal Period Focus Q3
XML 29 R18.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 8 - Options: Schedule of Share-based Compensation, Stock Options, Activity (Tables)
9 Months Ended
Dec. 31, 2014
Tables/Schedules  
Schedule of Share-based Compensation, Stock Options, Activity

 

Options

Number of Options

 

Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (in years)

 

Aggregate Intrinsic Value

 

 

 

Balance: April 1, 2014

                -

 

   $                -

 

 

   $-                      -

 

 

 

Granted

  308,000

 

   $       2.299

 

            2.6

 

   $-                      

Exercised

                -

 

                     -

 

 

   -                        -

Expired

                -

 

                     -

 

 

   -                        -

 

 

 

Balance:  December 31, 2014

  308,000

 

   $       2.299

 

            2.6

 

   $-                      

 

 

 

Options exercisable at December 31, 2014

  308,000

 

   $       2.299

 

            2.6

 

   $-                      

XML 30 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Rangeford Resources, Inc. - Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
OPERATING EXPENSES        
Investor relations   $ 12,536us-gaap_OtherCostAndExpenseOperating   $ 37,403us-gaap_OtherCostAndExpenseOperating
Professional fees 138,676us-gaap_ProfessionalFees 45,119us-gaap_ProfessionalFees 1,823,154us-gaap_ProfessionalFees 110,223us-gaap_ProfessionalFees
Professional fees, related party 60,000fil_ProfessionalFeesRelatedParty 618,111fil_ProfessionalFeesRelatedParty 373,540fil_ProfessionalFeesRelatedParty 1,141,967fil_ProfessionalFeesRelatedParty
General and administrative 15,806us-gaap_GeneralAndAdministrativeExpense 2,544us-gaap_GeneralAndAdministrativeExpense 51,574us-gaap_GeneralAndAdministrativeExpense 39,222us-gaap_GeneralAndAdministrativeExpense
TOTAL OPERATING EXPENSES 214,482us-gaap_OtherExpenses 678,310us-gaap_OtherExpenses 2,248,268us-gaap_OtherExpenses 1,328,815us-gaap_OtherExpenses
Loss from operations (214,482)us-gaap_IncomeLossFromContinuingOperations (678,310)us-gaap_IncomeLossFromContinuingOperations (2,248,268)us-gaap_IncomeLossFromContinuingOperations (1,328,815)us-gaap_IncomeLossFromContinuingOperations
OTHER EXPENSE        
Interest expense, related party 32,800us-gaap_InterestExpenseRelatedParty 29,897us-gaap_InterestExpenseRelatedParty 92,958us-gaap_InterestExpenseRelatedParty 44,679us-gaap_InterestExpenseRelatedParty
Total other expense 32,800us-gaap_OtherGeneralExpense 29,897us-gaap_OtherGeneralExpense 92,958us-gaap_OtherGeneralExpense 44,679us-gaap_OtherGeneralExpense
Loss before income taxes (247,282)us-gaap_OtherComprehensiveIncomeLossBeforeTax (708,207)us-gaap_OtherComprehensiveIncomeLossBeforeTax (2,341,226)us-gaap_OtherComprehensiveIncomeLossBeforeTax (1,373,494)us-gaap_OtherComprehensiveIncomeLossBeforeTax
Provision for income tax            
Net loss (247,282)us-gaap_NetIncomeLoss (708,207)us-gaap_NetIncomeLoss (2,341,226)us-gaap_NetIncomeLoss (1,373,494)us-gaap_NetIncomeLoss
Preferred stock dividends     (91,378)us-gaap_DividendsPreferredStock (64,632)us-gaap_DividendsPreferredStock
Net loss attributable to common shareholders $ (247,282)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest $ (708,207)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest $ (2,432,604)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest $ (1,438,126)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Per share information:        
Basic and diluted loss per common share $ (0.01)us-gaap_EarningsPerShareBasicAndDiluted $ (0.04)us-gaap_EarningsPerShareBasicAndDiluted $ (0.12)us-gaap_EarningsPerShareBasicAndDiluted $ (0.08)us-gaap_EarningsPerShareBasicAndDiluted
Weighted average shares outstanding 20,036,284us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 19,725,875us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 19,938,952us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 18,722,227us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
XML 31 R12.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 7 - Warrants
9 Months Ended
Dec. 31, 2014
Notes  
Note 7 - Warrants

NOTE 7 – WARRANTS

 

The fair value of each warrant granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history.

 

The expected term of warrants granted is estimated at the contractual term as noted in the individual warrant agreements and represents the period of time that warrants granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the warrant is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the warrants.

 

A summary of warrant activity as of December 31, 2014 and changes during the period then ended are presented below:

 

 

Expected volatility

       207%

Expected dividends

             0  

Expected term (in years)

             2  

Risk-free rate

      0.42%

 

 

Stock Warrants

Number of Warrants

 

Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (in years)

 

Aggregate Intrinsic Value

 

 

 

Balance: April 1, 2014

  280,000

 

   $         5.24

 

               2

 

   $                       0

 

 

 

Granted

  120,000

 

   $         4.40

 

               2

 

   $                       0

Exercised

                -

 

   $                -

 

 

   $                        -

Expired

                -

 

                     -

 

 

                             -

 

 

 

Balance:  December 31, 2014

  400,000

 

   $         4.99

 

               2

 

   $                       0

 

 

 

Warrants exercisable at December 31, 2014

  400,000

 

   $         4.99

 

               2

 

   $                       0

 

No Warrant expense recognized during the three months ended December 31, 2014.  Warrant expense of $193,540 and $193,540 was included in Professional fees and Professional Fees-related party, respectively, for the nine months ended December 31, 2014.

XML 32 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 6 - Related Party Transactions
9 Months Ended
Dec. 31, 2014
Notes  
Note 6 - Related Party Transactions

NOTE 6 – RELATED PARTY TRANSACTIONS

 

Professional Services

 

In September 2012, the Company entered into a professional services contract with Fidare to provide consulting services relating to corporate governance, accounting procedures and controls and strategic planning.  In accordance with the terms of the original contract, Fidare received monthly compensation of 20,000 common shares per month and warrants to purchase 20,000 common shares with an exercise price equal to the closing sale price of the Company’s common stock on the date of issuance, plus reasonable and necessary expenses.  The warrants are exercisable at any time for two years from the date of issuance and may be settled on a net basis.  In December 2012, the contract was amended to provide for monthly compensation of $20,000 per month plus warrants to purchase 20,000 common shares on the same terms described above.

 

The Consulting Agreement with Fidare was terminated on February 28, 2013 with an effective date of April 4, 2013.

 

On June 26, 2013, the Company entered into a new Consulting Agreement with Fidare to provide consulting services relating to corporate governance, accounting procedures and control and strategic planning  In accordance with the terms of the Consulting Agreement, Fidare receives monthly compensation of shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month and 20,000 warrants to purchase common stock, with each warrant having an exercise price equal to the closing sale price of the Common Stock on the date of issue and providing for a cashless or net issue exercise.

 

On July 1, 2014, the Consulting Agreement with Fidare was amended so Fidare will receive only monthly compensation shares of common stock valued at $20,000 based on the price at the close on the last trading day of each month. The managing member of Fidare is the C.E. McMillan Family Trust.  Harry McMillan is trustee of the C.E. McMillan Family Trust.

 

For the three and nine month periods ended December 31, 2014, the Company recognized $60,000 and $373,540 in Professional fees- related party expenses that were paid or are payable in shares of stock and warrants.   As of December 31, 2014, the Company is obligated to issue Fidare 46,575 share of the Company’s common stock under these agreements.      

 

For the three and nine month periods ended December 31, 2013, the Company recognized $256,056 and $468,239 in Professional fees- related party expenses that were paid in shares of stock and warrants.

XML 33 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 7 - Warrants: Schedule of Share Based Compensation Stock Warrants Activity Table (Details) (Warrants2, USD $)
9 Months Ended
Dec. 31, 2014
Apr. 02, 2014
Warrants2
   
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number 400,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
280,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price $ 4.99us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
$ 5.24us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term 2us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
2us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value $ 0us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
$ 0us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures 120,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price $ 4.40us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm 2fil_Sharebasedcompensationarrangementbysharebasedpaymentawardoptionsgrantedweightedaverageremainingcontractualterm
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Total Intrinsic Value 0fil_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodTotalIntrinsicValue
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number 400,000us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price $ 4.99us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
Weighted Average Remaining Contractual Term Exercisable 2fil_WeightedAverageRemainingContractualTermExercisable
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value $ 0us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
/ fil_WarrantsAndOptionsAxis
= fil_Warrants2Member
 
XML 34 R19.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 4 - Debt Issuance Costs (Details) (USD $)
17 Months Ended
Feb. 01, 2015
Dec. 31, 2014
Mar. 31, 2014
Sep. 04, 2013
Common Stock, Shares Issued   19,993,963us-gaap_CommonStockSharesIssued 19,833,385us-gaap_CommonStockSharesIssued  
Cicerone Corporate Development LLC        
Loans and Leases Receivable, Gross, Consumer, Revolving, Other       $ 750,000us-gaap_LoansAndLeasesReceivableConsumerRevolvingOther
/ fil_DebtIssuanceCostsAxis
= fil_CiceroneCorporateDevelopmentLlcMember
Investment Maturity Date Feb. 01, 2015      
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate       2.75%us-gaap_LongTermDebtPercentageBearingFixedInterestRate
/ fil_DebtIssuanceCostsAxis
= fil_CiceroneCorporateDevelopmentLlcMember
Common Stock, Shares Issued       1,500,000us-gaap_CommonStockSharesIssued
/ fil_DebtIssuanceCostsAxis
= fil_CiceroneCorporateDevelopmentLlcMember
XML 35 R15.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 10 - Commitments and Contingencies
9 Months Ended
Dec. 31, 2014
Notes  
Note 10 - Commitments and Contingencies

Note 10 – Commitments and Contingencies

 

We have become aware of a letter dated December 17, 2012 from Dr. Steven Henson to Michael Farmer, who at time was not a director or officer of Rangeford, with regard to our offering of up to $3,000,000 of our preferred stock in connection with our proposed acquisition of certain properties from Great Northern Energy, Inc.  In the letter, Dr. Henson, who at the time was the President and Chairman of the Board of Rangeford, purports to grant a right of rescission to certain investors in the event that we were unable to raise the full amount of funds necessary to acquire the subject properties from Great Northern Energy.  This right of rescission was never approved by our Board of Directors and it is our position that Dr. Henson acted without proper authority in providing the letter to Mr. Farmer, as the representative of certain investors.  At this point no claim has been made by any of the investors, who invested approximately $300,000 into Rangeford and we have no reason to assume that a claim will ultimately be made.

XML 36 R13.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 8 - Options
9 Months Ended
Dec. 31, 2014
Notes  
Note 8 - Options

NOTE 8 – OPTIONS

 

The fair value of each option granted is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions noted in the following table. Expected volatilities are based on volatilities from similar companies given our limited trading history.

 

The expected term of options granted is estimated at the contractual term as noted in the individual option agreements and represents the period of time that options granted are expected to be outstanding. The risk-free rate for the periods within the contractual life of the option is based on the U.S. Treasury bill rate in effect at the time of grant for treasury bills with maturity dates at the estimated term of the options.

 

A summary of option activity as of December 31, 2014 and changes during the period then ended are presented below:

 

Options

Number of Options

 

Weighted Average Exercise Price

 

Weighted Average Remaining Contractual Term (in years)

 

Aggregate Intrinsic Value

 

 

 

Balance: April 1, 2014

                -

 

   $                -

 

 

   $-                      -

 

 

 

Granted

  308,000

 

   $       2.299

 

            2.6

 

   $-                      

Exercised

                -

 

                     -

 

 

   -                        -

Expired

                -

 

                     -

 

 

   -                        -

 

 

 

Balance:  December 31, 2014

  308,000

 

   $       2.299

 

            2.6

 

   $-                      

 

 

 

Options exercisable at December 31, 2014

  308,000

 

   $       2.299

 

            2.6

 

   $-                      

 

No Option expense was recognized during the three months ended December 31, 2014.  Option expense of $1,179,395 was included in professional fees for the nine months ended December 31, 2014.

XML 37 R14.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 9 - Common Stock
9 Months Ended
Dec. 31, 2014
Notes  
Note 9 - Common Stock

note 9 – common stock

 

During the quarter ended June 30, 2014, the Company issued Fidare 13,846 shares of common stock valued at $60,000 for services (see note 6).

 

During the quarter ended June 30, 2014, the Company issued Mr. Colin Richardson, Chief Executive Officer and President (“Mr.  Richardson”), 13,846 shares of common stock valued at $60,000 for services (see note 6).

 

On August 7, 2014, the Company issued PT Platinum Consulting, LLC 38,686 shares of common stock valued at $62,447 to settle outstanding invoices for professional services.  The number of shares were determined based on the closing price of the stock on the date of the agreement. 

 

On August 7, 2014, the Company issued 60,406 shares of common stock valued at $91,378 to pay cumulative preferred stock dividends on the outstanding Series A Convertible Preferred Stock.  The number of shares issued was determined based on the closing price of the stock on the date of the declaration of the preferred dividends.  Dividends are not accrued until declared.

 

During the quarter ended September 30, 2014, the Company issued Fidare 16,897 shares of common stock valued at $40,000 and committed to issue an additional 11,439 shares of common stock valued at $20,000 for services (see note 6).

 

During the quarter ended September 30, 2014, the Company issued Mr. Richardson 16,897 shares of common stock valued at $40,000 and committed to issue an additional 11,439 shares of common stock to Mr.  Richardson valued at $20,000 for services (see Note 6).

 

During the quarter ended December 31, 2014, in accordance with the terms of the agreement with Fidare the Company is committed to issue 35,146 shares of common stock to Fidare valued at $60,000 for services (see Note 6).

 

During the quarter ended December 31, 2014, in accordance with the terms of the agreement with Mr. Richardson, the Company is committed to issue 35,146 shares of common stock to Mr. Richardson valued at $60,000 for services (see note 6).

 

As of December 31, 2014, the Company has committed to issue a total of 93,150 shares of common stock, as discussed above.  All issuable shares are unregistered shares.

XML 38 R16.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 7 - Warrants: Schedule of Derivative Liabilities at Fair Value (Tables)
9 Months Ended
Dec. 31, 2014
Tables/Schedules  
Schedule of Derivative Liabilities at Fair Value

 

Expected volatility

       207%

Expected dividends

             0  

Expected term (in years)

             2  

Risk-free rate

      0.42%

XML 39 R21.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 6 - Related Party Transactions (Details) (USD $)
3 Months Ended 9 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
Jul. 02, 2014
Jun. 26, 2013
Common Stock $ 19,994us-gaap_CommonStockValue [1]   $ 19,994us-gaap_CommonStockValue [1]   $ 19,833us-gaap_CommonStockValue [1]    
Professional fees 138,676us-gaap_ProfessionalFees 45,119us-gaap_ProfessionalFees 1,823,154us-gaap_ProfessionalFees 110,223us-gaap_ProfessionalFees      
Common Stock, Shares Issued 19,993,963us-gaap_CommonStockSharesIssued   19,993,963us-gaap_CommonStockSharesIssued   19,833,385us-gaap_CommonStockSharesIssued    
Fidare              
Common Stock             20,000us-gaap_CommonStockValue
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
Warrants Issued             20,000fil_WarrantsIssued
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
Other Deferred Compensation Arrangements, Liability, Current           20,000us-gaap_OtherDeferredCompensationArrangementsLiabilityCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
 
Professional fees 60,000us-gaap_ProfessionalFees
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
  373,540us-gaap_ProfessionalFees
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
       
Common Stock, Shares Issued 46,575us-gaap_CommonStockSharesIssued
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
  46,575us-gaap_CommonStockSharesIssued
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
       
CE McMillan Family Trust              
Professional fees   $ 256,056us-gaap_ProfessionalFees
/ fil_RelatedPartyNotesPayableAxis
= fil_CeMcmillanFamilyTrustMember
  $ 468,239us-gaap_ProfessionalFees
/ fil_RelatedPartyNotesPayableAxis
= fil_CeMcmillanFamilyTrustMember
     
[1] $0.001 par value; 75,000,000 shares authorized; 19,993,963 and 19,833,385 shares issued and outstanding
XML 40 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 8 - Options (Details) (USD $)
3 Months Ended
Dec. 31, 2014
Details  
Option Expense $ 1,179,395fil_OptionExpense1
XML 41 R5.htm IDEA: XBRL DOCUMENT v2.4.1.9
Rangeford Resources, Inc. - Statements of Cash Flows (USD $)
9 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Cash flows from Operating Activities    
Net loss $ (2,341,226)us-gaap_NetIncomeLoss $ (1,373,494)us-gaap_NetIncomeLoss
Adjustments to reconcile net loss to net cash used in operating activities:    
Common stock issued for services 422,447us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims 341,473us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims
Amortization of debt discount 81,703us-gaap_AmortizationOfDebtDiscountPremium 35,778us-gaap_AmortizationOfDebtDiscountPremium
Warrant expense 387,080fil_WarrantExpense1 544,294fil_WarrantExpense1
Option expense 1,179,395fil_OptionExpense  
Preferred stock issued for interest expense   8,381fil_PreferredStockIssuedForInterestExpense
Changes in operating assets and liabilities:    
Prepaid expenses   24,375us-gaap_IncreaseDecreaseInPrepaidExpense
Accounts payable 45,388us-gaap_IncreaseDecreaseInAccountsPayable 120,259us-gaap_IncreaseDecreaseInAccountsPayable
Accounts payable, related party 31,211us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties  
Accrued interest payable 11,256us-gaap_IncreaseDecreaseInInterestPayableNet 521us-gaap_IncreaseDecreaseInInterestPayableNet
Net cash used in operating activities (182,746)us-gaap_NetCashProvidedByUsedInOperatingActivities (298,413)us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows From Financing Activities    
Proceeds from related advances and notes payable 182,688us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt 310,066us-gaap_ProceedsFromRepaymentsOfRelatedPartyDebt
Net cash provided by financing activities 182,688us-gaap_NetCashProvidedByUsedInFinancingActivities 310,066us-gaap_NetCashProvidedByUsedInFinancingActivities
Net (decrease) increase in cash (58)us-gaap_CashPeriodIncreaseDecrease 11,653us-gaap_CashPeriodIncreaseDecrease
Cash, Beginning of Period 173us-gaap_CashAndCashEquivalentsAtCarryingValue  
Cash, End of Period 115us-gaap_CashAndCashEquivalentsAtCarryingValue 11,653us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of non-cash investing and financing activities:    
Issuance of Series A preferred stock to settle shareholder note payable   108,381fil_IssuanceOfSeriesAPreferredStockToSettleShareholderNotePayable
Issuance common stock with debt    [1] 164,338us-gaap_StockIssuedDuringPeriodSharesOther [1]
Preferred stock dividends paid in common stock 91,378fil_PreferredStockDividendsPaidInCommonStock 16,570fil_PreferredStockDividendsPaidInCommonStock
Supplemental Cash Flow Information:    
Cash paid for interest      
Cash paid for income taxes      
[1] Issuance of 1,500,000 shares of common stock with debt
XML 42 R10.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 5 - Related Party Notes Payable and Advances
9 Months Ended
Dec. 31, 2014
Notes  
Note 5 - Related Party Notes Payable and Advances

Note 5 – Related Party Notes Payable and Advances

 

On November 1, 2012, the Company entered into a note agreement with a shareholder, and former director Mr. Hadley, pursuant to which the Company borrowed $100,000 from the shareholder which was payable in 60 days with interest at 6% per annum (the “Hadley Note”).  Proceeds from the Hadley Note were paid directly to Great Northern Energy as a deposit to purchase certain oil and gas assets.  The Hadley Note was payable in 60 days with interest at 6% per annum.  In accordance with the terms of the note, the Company agreed to issue 250,000 shares of unregistered common stock to the shareholder.  The shares of unregistered common stock had a relative fair value of approximately $71,631 as of November 1, 2012, which was recorded as additional interest expense over the 60 day term of the note.  As of December 31, 2014, all 250,000 shares were issued to Mr. Hadley.

 

Upon the Company’s receipt of a Subscription Agreement and pursuant to a request from Mr. Hadley, on September 27, 2013, the Company’s Board of Directors approved via unanimous written consent to convert the Hadley Note into 20,000 shares of the Company’s Series A Preferred Stock; on the same day, 20,000 shares of Series A Preferred Stock were issued to Mr. Hadley. Pursuant to the conversion of the Hadley Note, the Company would not have any further liability to Mr. Hadley thereunder.   Mr. Hadley has informed the Company that he does not agree with the history and current status of the Hadley Note and therefore the parties are currently discussing a resolution.

 

No gain or loss was recognized on settlement of the debt because the fair value of the preferred stock issued is equal to the carrying value of the debt. The Company recognized and measured an aggregate of $64,632 of the proceeds, which is equal to the intrinsic value of the embedded beneficial conversion feature, to additional paid-in capital and a discount against the Preferred Stock. The preferred stock discount of $64,632, attributed to the beneficial conversion feature, is recognized as a deemed preferred stock dividend.  Additionally the Company will recognize the value attributable to the warrants in the amount of $89,837 to additional paid in capital and a discount against the preferred stock upon the conversion of the preferred stock into warrants.

 

On November 28, 2012, the CE McMillan Family Trust (the "CE Trust") advanced the Company $100 to facilitate the opening of a new bank account in Irving, Texas. The trustee of the C.E. McMillan Family Trust is also the managing member of Fidare Consulting Group, LLC ("Fidare") and Cicerone Corporate Development, LLC ("Cicerone").  The advance had not been repaid as of December 31, 2014.  

 

Fidare paid certain travel, SEC filing expenses and other expenses on behalf of the Company during the three and nine month periods ended December 31, 2014, aggregating $2,966 and $25,223, respectively.  The amounts have not been paid as of December 31, 2014 and are included in Accounts Payable-related party. 

 

At various times Cicerone advanced funds to or paid operating expenses on behalf of the Company under the Cicerone Revolving Note.  During the three and nine months ended December 31, 2014, advances under the Cicerone Revolving Note were $6,945 and $182,688, respectively.  During the three and nine months ended December 31, 2013, advances under the Cicerone Revolving Note were $177,000 and $310,066, respectively.  As of December 31, 2014, the outstanding balance of the Cicerone Revolving Note was $550,914.  The Company has not made any interest payments which are payable semi-annually on June 30 and December 31.  As of December 31, 2014, accrued and unpaid interest on the Cicerone Revolving Note was $18,128.

 

Harry McMillan is trustee of the C.E. McMillan Family Trust, which Trust serves as the managing member of Fidare Consulting Group, LLC (“Fidare”) and Cicerone Corporate Development, LLC (“Cicerone”). Mr. McMillan is the Trustee for the benefit of his wife, Christy McMillan and their children, and is also a member of each of Fidare and Cicerone.  Each of these entities, as well as certain beneficiaries of the Trust, own shares of our common stock and therefore, Mr. McMillan and the Trust may be deemed to beneficially own such shares. Each disclaims beneficial ownership of such shares. The Company believes, although the shareholdings received pursuant to the various agreements may not exceed the required thresholds, Mr. McMillan is a related party.

XML 43 R27.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 9 - Common Stock (Details) (USD $)
Dec. 31, 2014
Mar. 31, 2014
Aug. 07, 2014
Common Stock, Shares Authorized 75,000,000us-gaap_CommonStockSharesAuthorized 75,000,000us-gaap_CommonStockSharesAuthorized  
PT Platinum Consulting, LLC      
Common Stock, Shares Authorized     38,686us-gaap_CommonStockSharesAuthorized
/ fil_CommonStockAxis
= fil_PtPlatinumConsultingLlcMember
Preferred Stock Dividends      
Common Stock, Shares Authorized     60,406us-gaap_CommonStockSharesAuthorized
/ fil_CommonStockAxis
= fil_PreferredStockDividendsMember
Common Stock, Other Value, Outstanding     91,378us-gaap_CommonStockOtherValueOutstanding
/ fil_CommonStockAxis
= fil_PreferredStockDividendsMember
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Shorter duration columns must have at least one fourth (5) as many values. Column '10/1/2013 - 12/31/2013' is shorter (91 days) and has only 2 values, so it is being removed. Columns in Cash Flows statement 'Rangeford Resources, Inc. - Statements of Cash Flows (USD $)' have maximum duration 274 days and at least 21 values. Shorter duration columns must have at least one fourth (5) as many values. Column '10/1/2014 - 12/31/2014' is shorter (91 days) and has only 2 values, so it is being removed. 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Note 5 - Related Party Notes Payable and Advances (Details) (USD $)
3 Months Ended 9 Months Ended 3 Months Ended 9 Months Ended
Dec. 31, 2014
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2013
Mar. 31, 2014
Sep. 27, 2013
Nov. 01, 2012
Nov. 28, 2012
Jun. 26, 2013
Common Stock $ 19,994us-gaap_CommonStockValue [1] $ 19,994us-gaap_CommonStockValue [1]     $ 19,833us-gaap_CommonStockValue [1]        
Additional paid-in capital 5,655,675us-gaap_AdditionalPaidInCapital 5,655,675us-gaap_AdditionalPaidInCapital     3,826,914us-gaap_AdditionalPaidInCapital        
Accrued interest payable, related party 18,128us-gaap_DepositLiabilitiesAccruedInterest 18,128us-gaap_DepositLiabilitiesAccruedInterest     6,872us-gaap_DepositLiabilitiesAccruedInterest        
Hadley Note                  
Due to Related Parties, Current             100,000us-gaap_DueToRelatedPartiesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
   
Short-term Debt, Percentage Bearing Fixed Interest Rate             6.00%us-gaap_ShortTermDebtPercentageBearingFixedInterestRate
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
   
Common Stock, Other Shares, Outstanding 250,000us-gaap_CommonStockOtherSharesOutstanding
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
250,000us-gaap_CommonStockOtherSharesOutstanding
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
        250,000us-gaap_CommonStockOtherSharesOutstanding
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
   
Common Stock             71,631us-gaap_CommonStockValue
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
   
Beneficial Conversion Feature           64,632fil_BeneficialConversionFeature
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
     
Preferred Stock, Discount on Shares           64,632us-gaap_PreferredStockDiscountOnShares
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
     
Additional paid-in capital           89,837us-gaap_AdditionalPaidInCapital
/ fil_RelatedPartyNotesPayableAxis
= fil_HadleyNoteMember
     
CE Trust                  
Due to Related Parties, Current               100us-gaap_DueToRelatedPartiesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CeTrustMember
 
Fidare                  
Common Stock                 20,000us-gaap_CommonStockValue
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
Other Nonrecurring Expense 2,966us-gaap_OtherNonrecurringExpense
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
25,223us-gaap_OtherNonrecurringExpense
/ fil_RelatedPartyNotesPayableAxis
= fil_FidareMember
             
Cicerone                  
Due to Related Parties, Current 550,914us-gaap_DueToRelatedPartiesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
550,914us-gaap_DueToRelatedPartiesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
             
Related Party Tax Expense, Due to Affiliates, Current 6,945us-gaap_RelatedPartyTaxExpenseDueToAffiliatesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
182,688us-gaap_RelatedPartyTaxExpenseDueToAffiliatesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
177,000us-gaap_RelatedPartyTaxExpenseDueToAffiliatesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
310,066us-gaap_RelatedPartyTaxExpenseDueToAffiliatesCurrent
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
         
Accrued interest payable, related party $ 18,128us-gaap_DepositLiabilitiesAccruedInterest
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
$ 18,128us-gaap_DepositLiabilitiesAccruedInterest
/ fil_RelatedPartyNotesPayableAxis
= fil_CiceroneMember
             
[1] $0.001 par value; 75,000,000 shares authorized; 19,993,963 and 19,833,385 shares issued and outstanding