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10. STOCK COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Components of share-based compensation expenses relating to shares and options granted

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		December 31, 2014				December 31, 2013				December 31, 2014				December 31, 2013
Vesting of stock options			77,900				32,750				338,580				156,993
Incremental fair value of option modifications			--				--				--				1,914
Vesting expense associated with CEO restricted stock grant			--				--				--				64,444
Total share-based compensation expense		$	77,900			$	32,750			$	338,580			$	223,351

Total share-based compensation expense included in net loss		$	77,900			$	32,750			$	338,580			$	223,351

Weighted average number of common shares outstanding – basic and diluted			301,606,286				198,153,316				262,722,943				187,505,561

Basic and diluted loss per common share associated with stock-based compensation expense		$	(0.00	)		$	(0.00	)		$	(0.00	)		$	(0.00	)

Weighted average assumptions used to estimate the fair value information

The following outlines the significant weighted average assumptions used to estimate the fair value information presented, with respect to stock option grants utilizing the Binomial Lattice option pricing models at, and during the nine months ended December 31, 2014:

Risk free interest rate	2.6%
Average expected life	10 years
Expected volatility	90.23%
Expected dividends	None

The following outlines the significant weighted average assumptions used to estimate the fair value information, which is based on historical data, with respect to stock option grants utilizing the Binomial Lattice option pricing models at, and during the nine months ended December 31, 2013:

Risk free interest rate	0.38% - 2.50%
Average expected life	3 years - 10 years
Expected volatility	94.6% - 102.7%
Expected dividends	None

Options outstanding

		Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term in Years

Vested			24,265,072			$	0.26				4.24
Expected to vest			4,690,966			$	0.14				8.90
Total			28,956,038

Stock option activity

		Number of Options				Range of Exercise Price				Weighted Average Exercise Price
Stock options outstanding at March 31, 2014			26,133,407				$0.076 - $0.41			$	0.25
Exercised			(50,000	)			0.19			$	0.19
Granted			2,972,631				0.19			$	0.19
Cancelled/Expired			(100,000	)			0.19			$	0.19
Stock options outstanding at December 31, 2014			28,956,038				$0.076 - $0.41			$	0.24
Stock options exercisable at December 31, 2014			24,265,072				$0.076 - $0.41			$	0.26

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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