STOCK BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2014

STOCK BASED COMPENSATION

Summary of information about options for the most recent annual income statements presented

	Number Of			Weighted Average		Aggregate Intrinsic		Weighted Average Remaining Contractual Life
	Options			Exercise Price		Value		(in years)
Outstanding at 3/31/2014		1,355,500		$	1.014	$	329,025		7.32
Granted		50,000		$	0.620		--		--
Forfeited		(245,000	)	$	0.678		--		--
Outstanding at 12/31/2014		1,160,500		$	1.048	$	--		6.65
Vested or expected to vest 12/31/2014		1,160,500		$	1.048	$	--		6.65
Exercisable at 12/31/2014		860,500		$	1.107	$	--		6.04

Summary of activity of stock options outstanding but not vested

	Number of    Options		Weighted Average
Outstanding at 3/31/2014		621,333	$	0.967
Granted		50,000	$	0.620
Vested		(218,334)	$	0.678
Forfeited		(121,999)	$	1.178
Expired		(31,000)	$	1.960
Outstanding at 12/31/2014		300,000	$	0.877