11. WARRANTS (Tables)

6 Months Ended

12 Months Ended

Sep. 30, 2014

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of warrant activity exercisable and outstanding

A summary of warrant activity during the six months ended September 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		(2,166,104	)	$0.086 – $0.12	$	0.10
Issued		15,375,614		$0.042 - $0.24	$	0.07
Cancelled/Expired		(1,136,364	)	$0.13	$	0.13
Warrants outstanding at September 30, 2014		82,782,621		$0.042 - $0.25	$	0.10
Warrants exercisable at September 30, 2014		82,782,621		$0.042 - $0.25	$	0.10

The following is a summary of the stock options outstanding at March 31, 2014 and 2013 and the changes during the years then ended:

	Year Ended March 31,
	2014				2013
	Options		Weighted Average Exercise Price		Options		Weighted Average Exercise Price
Outstanding, beginning of year		21,095,798	$	0.28		19,428,693	$	0.31
Granted		5,220,536	$	0.09		1,667,105	$	0.08
Exercised		182,927	$	0.08		–	$	–
Cancelled/Forfeited		–	$	–		–	$	–
Outstanding, end of year		26,133,407	$	0.25		21,095,798	$	0.28
Exercisable, end of year		22,487,563	$	0.27		19,141,625	$	0.29
Weighted average estimated fair value of options granted			$	0.13			$	0.08

Weighted average assumptions used to estimate the fair value, with respect to warrants utilizing the Binomial Lattice option pricing model

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 six months ended September 30, 2014:

Risk free interest rate	0.79% - 2.29%
Average expected life	5 years – 7 years
Expected volatility	90.1% - 95.8%
Expected dividends	None

The following outlines the significant weighted average assumptions used to estimate the fair value of warrants granted utilizing the Binomial Lattice option pricing model:

	Year Ended March 31,
	2014	2013
Risk free interest rate	1.3%-2.04%	0.86%-1.56%
Average expected life	5 to 7 years	5 to 7 years
Expected volatility	91.2% - 98.5%	90.3% - 94.3%
Expected dividends	None	None