NOTE 7 - STOCK OPTIONS (Tables)

12 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Assumptions Used

Dividends yield	0	%
Computed volatility	108% -158	%
Risk-free interest rate	.11% - .63	%
Expected life	1 to 4 years

Status of Company's Stock Options

	2015			2014
Options outstanding at beginning of year		3,290,000			3,290,000
Options granted		—			500,000
Options exercised		—			—
Options canceled/expired		(700,000	)		(500,000	)
Options outstanding at end of year		2,590,000			3,290,000

Information about Stock Options

Range of Exercise Price		Number Outstanding		Weighted Average Remaining Contractual Life Years		Number Exercisable
$	.12		1,590,000		2.30		1,590,000
	.15		500,000		1.65		500,000
	.40		300,000		1.25		200,000
	.25		200,000		.25		—
$	.12 – .40		2,590,000		3.18		2,290,000

The following table summarizes the information about the stock options as of March 31, 2014:

Range of Exercise Price		Number Outstanding		Weighted Average Remaining Contractual Life Years		Number Exercisable
$	.12		1,990,000		3.30		1,990,000
	.15		300,000		.26		300,000
	.15		500.000		2.65		500,000
	.25		200,000		1.25		—
	.50		300,000		2.25		100,000
$	.12 – .50		3,290,000		3.18		2,890,000