STOCK BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2015

STOCK BASED COMPENSATION

Summary of information about options for the periods presented

	Number Of		Weighted Average		Aggregate Intrinsic		Weighted Average Remaining Contractual Life
	Options		Exercise Price		Value		(in years)
Outstanding at 3/31/2015	1,190,500		$	1.049	$	21,600	5.18
Granted	1,030,000		$	0.081
Exercised	(135,000	)	$	1.100
Forfeited	(155,000	)	$	1.015
Outstanding at 12/31/2015	1,930,500		$	0.661	$	102,503	7.85
Vested or expected to vest at 12/31/2015	1,930,500		$	0.661	$	102,503	7.85
Exercisable and vested at 12/31/2015	1,235,500		$	0.767	$	34,568	6.52

Summary of activity of stock options outstanding but not vested

	Number of Options		Weighted Average Exercise Price
Outstanding at 3/31/2015	112,500		$	0.664
Granted	1,030,000		$	0.081
Forfeited	(40,000	)	$	0.670
Vested	(407,500	)	$	0.165
Outstanding at 12/31/2015	695,000		$	0.092