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Subsequent Events
9 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 19: SUBSEQUENT EVENTS

 

On January 26, 2020, the Company entered into letter agreements (the "Letter Agreements") with accredited institutional investors (the "Investors") holding the warrants issued with the Company's Series B Convertible Preferred Stock on August 21, 2019 (the "Warrants"). Pursuant to the Letter Agreements, the Investors agreed to a cash exercise of 3,921 of the Warrants at a price of $0.51 in consideration for the receipt of replacement warrants (the "Replacement Warrants") to purchase 5,882 of the Company's common stock at $0.90. In the Letter Agreements, the Company agreed to a stand still from issuing common shares for 100 days from the date of the Agreements. The Investors also agreed to eliminate language within the Replacement Warrants that would require the Company to carry a derivative liability on its balance sheet for the newly issued Replacement Warrants.

 

On January 27, 2020, the Company received approximately $2,000 in cash from the exercise of the Warrants and issued the Replacement Warrants to the Investors, which have an exercise price of $0.90 and may be exercised within five years of issuance.