Stock Options (Tables)

9 Months Ended

Dec. 31, 2020

Stock Options

Summary of Stock Option Activity

A summary of stock option activity for the nine months ended December 31, 2020 is summarized below:

	December 31, 2020
	Number of Options			Weighted Average Exercise Price
Stock Options:
Balance at beginning of period		2,230,000		$	0.26
Granted		100,000		$	0.29
Exercised		(440,000	)	$	0.06
Forfeited		(190,000	)	$	0.19
Balance at end of period		1,700,000		$	0.32
Options exercisable at end of period		1,600,000		$	0.32

Schedule of Employee Stock Options Outstanding

The following table summarizes information about employee stock options outstanding at December 31, 2020:

Range of Exercise Price		Number Outstanding at December 31, 20		Weighted Average Remaining Contractural Life		Weighted Average Exercise Price		Number Exercisable at December 31, 2020		Weighted Average Exercise Price
$	.03 - $.38		1,150,000		4.3		0.23		1,050,000		0.23
$	.47 - $.55		550,000		6.7		0.50		550,000		0.50
	*		1,700,000						1,600,000

* Total number of options outstanding as of December 31, 2020 includes 600,000 options issued to five current and two former directors as compensation and 1,040,000 options issued to key employees that were not issued from the Plan.