STOCK OPTIONS AND WARRANTS (Tables)

6 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

SUMMARY OF STOCK OPTION ACTIVITY

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

	September 30, 2022
	Number of Options			Weighted Average Exercise Price
Stock Options:
Balance at beginning of period		56,343		$	9.90
Granted		107,752		$	6.83
Forfeited		(2,668	)	$	5.63
Balance at end of period		161,427		$	7.90
Options exercisable at end of period		51,341		$	10.19

SCHEDULE OF EMPLOYEE STOCK OPTIONS OUTSTANDING

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

Range of Exercise Price		Number Outstanding at September 30, 2022		Weighted Average Remaining Contractural Life		Weighted Average Exercise Price		Number Exercisable at September 30, 2022		Weighted Average Exercise Price
	$2.35 - $7.20		58,669		4.4	$	4.95		21,667	$	6.82
	$8.10 - $9.60		81,086		9.2	$	8.25		8,002	$	7.62
	$11.40 - $16.50		21,672		4.5	$	14.42		21,672	$	14.42
	*		161,427						51,341

* Total number of options outstanding as of September 30, 2022 includes 23,343 options issued to six current and three former directors as compensation, and 73,334 options issued to Company officers as compensation and 64,750 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 September 30, 2022 are as follows:

THE SINGING MACHINE COMPANY, INC AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

September 30, 2022 and 2021

(Unaudited)

	September 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		1,155,557		$	2.80		561,113		$	0.30
Warrants issued		100,000		$	5.00		-			N/A
Warrants exercised		(309,001	)	$	2.80		(561,113	)	$	0.30
Warrants outstanding at September 30, 2022		946,556		$	3.03		-			N/A
Warrants exercisable at September 30, 2022		846,556		$	2.80		-			N/A

SCHEDULE OF WARRANTS EXPIRATION

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

Number of Common Warrants	Exercise Price		Expiration Date
846,556	$	2.80		September 15, 2026
100,000	$	5.00		May 23, 2027
946,556