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Subsequent Events
9 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Subsequent Events

We have evaluated subsequent events through February 11, 2019 and have identified the following matters requiring disclosure:

 

Grants and Exercise of Options from 2016 Plan

 

During January 2019, in connection with the appointment of a new independent member to our Board, the Board authorized the grant of options to purchase 25,000 shares of our common stock under our 2016 Plan at an exercise price of $1.74 per share, the quoted closing price of our common stock on the Nasdaq Capital Market on the date of the grant. Additionally, one of our officers and one of our independent Board members exercised options to purchase an aggregate of 26,750 registered shares of our common stock at an exercise price of $1.50 per share and we received cash proceeds of $40,100. Also in January 2019, the Compensation Committee of the Board authorized the grant of options to purchase 220,000 shares of our common stock at an exercise price of $1.70 per share, the quoted closing price of our common stock on the Nasdaq Capital Market on the date of the grant, to one of our executive officers. In February 2019, we granted 25,000 shares of common stcok from our 2016 Plan as partial compensation under the terms of a social media services contract.