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Subsequent Events
9 Months Ended
Dec. 31, 2014
Subsequent Events  
Subsequent Events

 

Note 16 – Subsequent Events

 

The Company has evaluated all events that occurred after the balance sheet date through the date when the financial statements were issued to determine if they must be reported.  The Management of the Company determined that there were same reportable subsequent event(s) to be disclosed as follows:

 

On January 1, 2015, the Company issued 1,500,000 shares of restricted common stock of the Company to Dr. Smartt, as a newly appointed member of the Company’s Board of Directors, as compensation for future services.  These shares shall vest with respect to 750,000 shares on each of the first two anniversaries of the date of grant, subject to the director's continuous service to the Company and will be governed by the Company's standard form of restricted stock award agreement.