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Equity Incentive Plan (Tables)
12 Months Ended
Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Assumptions Utilized to Estimate the Fair Value of Stock Options Granted

The assumptions utilized to estimate the fair value of stock options granted are presented in the following table:

 

 

 

Year Ended

 

 

 

 

March 31,

 

 

 

 

2021

 

 

2020

 

 

Risk free interest rate

 

0.174% - 0.527%

 

 

0.304% - 2.38%

 

 

Expected volatility

 

88.02% - 101.67%

 

 

71.65% - 78.95%

 

 

Expected term

 

2.8 - 6.1 years

 

 

2.5 - 6 years

 

 

Dividend yield

 

0.0%

 

 

0.0%

 

 

Schedule of Stock Options

The following is a summary of the activity of the Company’s stock options under the 2015 Plan and 2016 Director Plan as of March 31, 2021:

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise Price

 

Outstanding at March 31, 2020

 

 

11,815,982

 

 

$

3.43

 

Granted

 

 

5,568,000

 

 

 

1.24

 

Exercised

 

 

(2,028,203

)

 

 

2.64

 

Cancelled/Forfeited

 

 

(2,767,711

)

 

 

1.93

 

Outstanding at March 31, 2021

 

 

12,588,068

 

 

 

2.92

 

Options exercisable at March 31, 2021

 

 

8,232,897

 

 

$

3.77

 

Schedule of Stock Option by Exercise Price Range

 

 

 

Stock Options Outstanding

 

 

Stock Options Vested

 

Range of

Exercise

Price

 

Number

Outstanding

at March 31,

2021

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life (Years)

 

 

Aggregate

Intrinsic

Value

 

 

Number

Vested at

March 31,

2021

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Life (Years)

 

 

Aggregate

Intrinsic

Value

 

$0.95 - $8.75

 

 

12,588,068

 

 

$

2.92

 

 

 

7.33

 

 

$

3,295,837

 

 

 

8,232,897

 

 

$

3.77

 

 

 

6.46

 

 

$

1,002,042

 

 

Schedule of Non-vested Options

 

 

 

Options

 

 

Weighted Average Grant Date Fair Value Per Share

 

Non-vested options at March 31, 2020

 

 

3,591,507

 

 

$

1.36

 

Granted

 

 

5,568,000

 

 

 

0.89

 

Vested

 

 

(2,920,332

)

 

 

1.27

 

Cancelled/Forfeited

 

 

(1,884,004

)

 

 

1.13

 

Non-vested options at March 31, 2021

 

 

4,355,171

 

 

$

0.91