Quarterly report pursuant to Section 13 or 15(d)

STOCK OPTIONS (Tables)

v3.5.0.2
STOCK OPTIONS (Tables)
6 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]
These options at their respective grant dates were valued using the Black-Scholes option pricing model with the following key assumptions:
 
Grant date
 
Expected life
in years
 
Risk
free rate
 
Dividend
rate
 
Forfeiture
rate
 
Expected
volatility
 
Grant date
fair value
 
February 17, 2015
 
 
5.39
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
136,613
 
July 1, 2014
 
 
4.75
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
1,259,487
 
June 20, 2014
 
 
4.72
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
118,957
 
April 11, 2014
 
 
4.50
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
230,930
 
November 24, 2015
 
 
6.15
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
694,384
 
December 14, 2015
 
 
6.21
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
1,260,437
 
April 21, 2016
 
 
0.79-9.25
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
2,582,890
 
April 26, 2016
 
 
6.57
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
213,750
 
August 8, 2016
 
 
6.86
 
 
1.59
%
 
0
%
 
0
%
 
114
%
$
652,068
 
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
 
 
Number of Options
 
Weighted-Average
Exercise Price ($)
 
Outstanding, March 31, 2016
 
 
6,604,880
 
 
0.57
 
Issued
 
 
4,000,000
 
 
0.77
 
Cancelled
 
 
(143,637)
 
 
0.48
 
Outstanding, September 30, 2016
 
 
10,461,243
 
 
0.59
 
Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block]
The following is a summary of stock options outstanding and exercisable as of September 30, 2016:
 
 
 
 
 
 
 
 
 
Number of
 
Exercise Price ($)
 
Number of Options
 
Expiry Date
 
Exercisable Options
 
 
0.165
 
 
374,324
 
April 1, 2021
 
 
374,324
 
 
0.23
 
 
99,610
 
June 20, 2021
 
 
99,610
 
 
0.23
 
 
2,972,592
 
July 1, 2021
 
 
2,972,592
 
 
0.23
 
 
204,460
 
February 17, 2022
 
 
136,314
 
 
1.22
 
 
400,000
 
November 24, 2022
 
 
-
 
 
1.00
 
 
2,430,000
 
December 14, 2022
 
 
-
 
 
1.00
 
 
250,000
 
April 26, 2023
 
 
-
 
 
0.25
 
 
906,077
 
July 28, 2025
 
 
906,077
 
 
0.25
 
 
86,972
 
December 30, 2025
 
 
59,158
 
 
0.95
 
 
9,486
 
February 2, 2017
 
 
9,486
 
 
0.95
 
 
111,937
 
March 28, 2023
 
 
111,937
 
 
0.95
 
 
31,620
 
March 3, 2024
 
 
31,620
 
 
0.95
 
 
15,810
 
March 14, 2024
 
 
15,810
 
 
0.95
 
 
82,213
 
September 30, 2024
 
 
82,213
 
 
0.95
 
 
7,431
 
June 2, 2025
 
 
7,431
 
 
0.95
 
 
671,859
 
July 29, 2025
 
 
671,859
 
 
0.95
 
 
57,353
 
December 30, 2025
 
 
8,193
 
 
1.05
 
 
36,697
 
February 2, 2017
 
 
36,697
 
 
1.05
 
 
433,027
 
March 28, 2023
 
 
433,027
 
 
1.05
 
 
122,324
 
March 3, 2024
 
 
122,324
 
 
1.05
 
 
61,162
 
March 14, 2024
 
 
61,162
 
 
1.05
 
 
318,042
 
September 30, 2024
 
 
318,042
 
 
1.05
 
 
28,747
 
June 2, 2025
 
 
28,747
 
 
1.00
 
 
750,000
 
August 8, 2023
 
 
-
 
 
 
 
 
10,461,243
 
 
 
 
6,486,623