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11. WARRANTS
3 Months Ended
Jun. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
WARRANTS

A summary of warrant activity during the three months ended June 30, 2014 is presented below:

 

   Amount   Range of
Exercise Price
   Weighted Average
Exercise Price
 
Warrants outstanding at March 31, 2014   70,709,475    $0.042 - $0.25   $0.13 
Exercised             
Issued   10,759,815    $0.241 - $0.042   $0.06 
Cancelled/Expired             
Warrants outstanding at June 30, 2014   81,469,290    $0.07 - $0.25   $0.10 
Warrants exercisable at June 30, 2014   81,469,290    $0.07 - $0.25   $0.10 

 

The following outlines the significant weighted average assumptions used to estimate the fair value information presented, with respect to warrants utilizing the Binomial Lattice option pricing models at, and during the three months ended June 30, 2014:

 

Risk free interest rate 1.53% - 1.70%  
Average expected life    5 years
Expected volatility      95.0% - 95.2%
Expected dividends  None