9. Stock Compensation (Tables)

6 Months Ended

Sep. 30, 2015

Share based compensation expense

	Three Months Ended			Three Months Ended			Six Months Ended			Six Months Ended
	September 30, 2015			September 30, 2014			September 30, 2015			September 30, 2014
Vesting of stock options	$	50,711		$	89,793		$	101,421		$	260,680
Total stock-based compensation expense		50,711			89,793			101,421			260,680
Weighted average number of common shares outstanding – basic and diluted		7,610,459			5,187,398			7,167,903			4,869,898
Basic and diluted loss per common share	$	(0.01	)	$	(0.02	)	$	(0.01	)	$	(0.05	)

Assumptions used

	Amount			Range of Exercise Price		Weighted Average Exercise Price
Warrants outstanding at March 31, 2015		1,430,738			$2.10 - $15.00	$	6.84
Exercised		(5,292	)		$2.10	$	2.10
Issued		746,656			$6.30	$	6.30
Cancelled/Expired		(1,252	)		$2.10	$	2.10
Warrants outstanding at September 30, 2015		2,170,850			$2.10 - $15.00	$	6.67
Warrants exercisable at September 30, 2015		2,170,850			$2.10 - $15.00	$	6.67

Options vested and expected to vest

	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term in Years
Vested		445,557	$	11.40		4.92
Expected to vest		50,133	$	6.36		8.05
Total		495,690

Option activity

	Amount			Range of Exercise Price		Weighted Average Exercise Price
Stock options outstanding at March 31, 2015		501,690			$4.00-$20.50	$	12.50
Exercised		–			–		–
Granted		–			–		–
Cancelled/Expired		(6,000	)		$20.50	$	20.50
Stock options outstanding at September 30, 2015		495,690			$4.00-$20.50	$	10.89
Stock options exercisable at September 30, 2015		445,557			$4.00-$20.50	$	11.66

Options

Assumptions used

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