Shareholders' Equity

6 Months Ended

Sep. 30, 2016

Equity [Abstract]

Shareholders' Equity

NOTE 12- SHAREHOLDERS’ EQUITY

COMMON STOCK ISSUANCES

On August 10, 2016, the Company issued 41,668 shares of its common stock to our Board of Directors at $0.24 per share, pursuant to our annual director compensation plan for the fiscal year ending March 31, 2016.

STOCK OPTIONS

On August 10, 2016, the Company granted 100,000 stock options to the Vice President of Sales and Marketing with an exercise price of $0.32 per share with a one year vesting period pursuant to a sales incentive program for the fiscal year ended March 31, 2016.

The fair value of the option grant was estimated on the date of the grant using the Black-Scholes option-pricing model with the assumptions outlined below. The expected volatility is based upon historical volatility of our stock and other contributing factors. The expected term is based upon observation of actual time elapsed between date of grant and exercise of options for all employees and other contributing factors.

● For the three and six months ended September 30, 2016: expected dividend yield 0%, risk-free interest rate of 0.55%, volatility 145.0% and expected term of three years.