18. Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2017

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.

March 31, 2017	Level I		Level II		Level III		Total

Warrant Liability	$	-	$	-	$	95,000	$	95,000
Total Liabilities	$	-	$	-	$	95,000	$	95,000

March 31, 2016	Level I		Level II		Level III		Total

Warrant Liability	$	-	$	-	$	1,136,203	$	1,136,203
Total Liabilities	$	-	$	-	$	1,136,203	$	1,136,203

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a summary of the changes in fair value of our Level 3 financial liabilities for the years ended March 31, 2017 and 2016 as well as the unrealized gains or losses included in income.

	March 31, 2017			March 31, 2016
Fair value, at beginning of period	$	1,136,203		$	518,962

New purchases and issuances		-			-
Sales and settlements		(720,000	)		-
Change in fair value		(321,203	)		617,241

Fair value, at end of period	$	95,000		$	1,136,203

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

During May 2016, BCA Mezzanine Fund LLP (“BCA”) informed the Company that BCA has elected to exercise its “put option”, thereby requiring the Company to purchase all the warrants held by BCA. Total warrants were to purchase a total of 236,920 shares of the Company’s common stock. The table below shows the warrants held by BCA for which the “put option” has been exercised.

Date of Warrant		Expiration Date		Number of Warrants		Exercise Price
	09-10-2010		09-10-2019		136,920	$	6.70
	07-26-2012		09-10-2019		20,000	$	3.35
	11-20-2012		09-10-2019		20,000	$	3.56
	02-14-2013		09-10-2019		20,000	$	3.58
	07-12-2013		09-10-2019		20,000	$	3.33
08/12/2013			09-10-2019		20,000	$	3.69

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

Date of Warrant		Expiration Date		Number of Warrants		Exercise Price		Fair Market Value Per Share		Expected Volatility			Remaining Life in Years		Risk Free Interest Rate			Warrant Liability
	09-10-2010		09-10-2019		136,920	$	6.70	$	6.70		28.51	%		9		2.81	%	$	267,848
	09-10-2010		09-10-2015		10,416	$	6.70	$	6.70		28.51	%		5		1.59	%	$	13,808
	07-26-2012		09-10-2019		50,000	$	3.35	$	3.90		42.04	%		7		0.94	%	$	66,193
	07-26-2012		09-10-2019		20,000	$	3.35	$	3.90		42.04	%		7		0.94	%	$	26,477
	11-20-2012		09-10-2019		20,000	$	3.56	$	3.50		42.45	%		6.83		1.09	%	$	21,441
	02-14-2013		09-10-2019		20,000	$	3.58	$	3.80		41.72	%		6.58		1.43	%	$	23,714
	07-12-2013		09-10-2019		20,000	$	3.33	$	3.32		40.26	%		6.17		2.00	%	$	19,523
	08-12-2013		09-10-2019		20,000	$	3.69	$	3.69		40.20	%		6.08		2.01	%	$	21,587

Date of Warrant		Expiration Date		Number of Warrants		Exercise Price		Fair Market Value Per Share		Put Option Value		Market Price Option		Remaining Life in Years		Warrant Liability
	09-10-2010		09-10-2019		136,920	$	6.70	$	4.31		542,203	NA			3.45	$	542,203
	07-26-2012		09-10-2019		50,000	$	3.35	$	4.31		198,000		48,000		3.45	$	198,000
	07-26-2012		09-10-2019		20,000	$	3.35	$	4.31		79,200		19,200		3.45	$	79,200
	11-20-2012		09-10-2019		20,000	$	3.56	$	4.31		79,200		15,000		3.45	$	79,200
	02-14-2013		09-10-2019		20,000	$	3.58	$	4.31		79,200		12,800		3.45	$	79,200
	07-12-2013		09-10-2019		20,000	$	3.33	$	4.31		79,200		19,600		3.45	$	79,200
08/12/2013			09-10-2019		20,000	$	3.69	$	4.31		79,200		12,400		3.45	$	79,200

Date of Warrant				Expiration Date				Number of Warrants				Exercise Price				Fair Market Value Per Share				Put Option Value				Market Price Option				Remaining Life in Years				Warrant Liability
	07-26-2012				09-10-2019				50,000			$	3.35			$	5.25				NA				95,000				2.45			$	95,000

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details