NOTE 6 - STOCK OPTIONS

3 Months Ended

Jun. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 6 – STOCK OPTIONS

On July 24, 2001, the Company filed with the SEC Form S-8, for its 2002 Stock Option Plan, (the Plan). An aggregate amount of common stock that may be awarded and purchased under the Plan is 3,000,000 shares of the Company’s common stock. Under the Plan during the years ended March 31, 2013, the Company granted stock options to employees and members of the Board of Directors in the amount of 2,190,000. The Company recognized option expense of $2,770 due to the vesting of these options for the three months ended June 30, 2013.

A summary of the status of the Company’s stock options as of June 30, 2013 is presented below:

	June 30, 2013
Options outstanding at beginning of year	3,290,000
Options granted	-
Options exercised	-
Options canceled	-
Options outstanding at end of year	3,290,000

The following table summarizes the information about the stock options as of June 30, 2013:

Range of Exercise Price		Number Outstanding	Weighted Average Remaining Contractual Life Years	Weighted Average Exercise Price (Total shares)		Number Exercisable	Weighted Average Exercise Price (Exercisable shares)
$	.12	1,990,000	4.05	$	.12	1,990,000	$	.12
	.10-.15	800,000	.35		.12	800,000		.12
	.25	200,000	2.00		.25	-		-
	.50	300,000	3.00		.50	100,000		.50
$	.10 – .15	3,290,000	2.93	$	.16	2,890,000	$	.13