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STOCK OPTIONS AND WARRANTS (Tables)
 3 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
SUMMARY OF STOCK OPTION ACTIVITY

A summary of stock option activity for the three months ended June 30, 2022 is summarized below:

 SUMMARY OF STOCK OPTION ACTIVITY 

   June 30, 2022 
   Number of
Options		   Weighted Average
Exercise Price		 
Stock Options:          
Balance at beginning of period   56,343   $9.90 
Granted   99,751   $6.70 
Forfeited   (2,668)  $5.63 
Balance at end of period   153,436   $7.87 
           
Options exercisable at end of period   50,007   $10.23 
SCHEDULE OF EMPLOYEE STOCK OPTIONS OUTSTANDING

The following table summarizes information about employee stock options outstanding at June 30, 2022:

SCHEDULE OF EMPLOYEE STOCK OPTIONS OUTSTANDING 

Range of
Exercise Price		   Number
Outstanding at
June 30, 2022		   Weighted
Average
Remaining
Contractural Life		   Weighted
Average
Exercise Price		   Number
Exercisable at
June 30, 2022		 
$2.35 - $7.20    57,335    4.0   $4.95    21,667 
$8.10 - $9.60    74,419    9.4   $8.21    6,668 
$11.40 - $16.50    21,672    4.8   $14.42    21,672 
*    153,426              50,007 

 

* Total number of options outstanding as of June 30, 2022 includes 22,009 options issued to four current and three former directors as compensation, and 69,667 options issued to Company officers as compensation and 61,750 issued to employees as part of an Employee Stock Incentive Plan .
SCHEDULE OF COMMON STOCK WARRANTS ISSUED AND OUTSTANDING

In connection with the August 2021 Private Placement disclosed in Note 2 and Note 11, common warrants and pre-funded warrants issued and outstanding as of June 30, 2022 are as follows:

 SCHEDULE OF COMMON STOCK WARRANTS ISSUED AND OUTSTANDING 

   June 30, 2022 
   Number of
Common
Warrants		   Weighted
Average
Exercise Price		   Number of
Pre-Funded
Warrants		   Weighted
Average
Exercise Price		 
Warrants:                
Warrants outstanding at April 1, 2022   1,155,556   $2.80    561,111   $0.30 
Warrants issued   100,000   $5.00    -    N/A 
Warrants exercised   (231,222)  $2.80    (561,111)  $0.30 
Warrants outstanding at June 30, 2022   1,024,334   $3.01    -    N/A 
                     
Warrants exercisable at June 30, 2022   924,334   $2.80    -    N/A 
SCHEDULE OF WARRANTS EXPIRATION

As of June 30, 2022, the Company’s outstanding warrants by expiration date were as follows:

 SCHEDULE OF WARRANTS EXPIRATION 

Number of
CommonWarrants		   Exercise Price   Expiration Date
 924,334   $2.80   September 15, 2026
 100,000   $5.00   May 23, 2027
 1,024,334