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Stock Options (Tables)
12 Months Ended
Mar. 31, 2020
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement Abstract  
Schedule of incentive stock options granted under the Plan

The Company had the following incentive stock options granted under the 2019 Plan, 2016 Plan, and Plan that are issued and outstanding as at March 31, 2020:

  Exercise  Balance           Balance 
Expiry Date Price (CDN$)  March 31, 2019  Granted  Exercised  Forfeited  March 31, 2020 
December 23, 2019$0.25  2,934,717    (635,044) (2,299,673)  
March 25, 2020$0.25  200,000    (200,000)    
May 26, 2020$0.60  150,000        150,000 
July 10, 2020$0.55  50,000        50,000 
February 4, 2021$0.35  500,000      (100,000) 400,000 
May 6, 2021$0.35  530,000      (10,000) 520,000 
October 27, 2021$0.62  500,000        500,000 
February 2, 2022$0.75  665,000      (208,000) 457,000 
May 26, 2022$0.60  200,000      (200,000)  
May 26, 2022$0.75  1,037,500        1,037,500 
December 18, 2022$0.45  235,000      (60,000) 175,000 
May 4, 2023$0.50  630,000      (100,000) 530,000 
November 30, 2023$0.43  350,000        350,000 
February 12, 2024$0.50  650,000      (100,000) 550,000 
January 30, 2022$0.37    175,000      175,000 
January 30, 2025$0.37    2,235,000      2,235,000 
Total outstanding    8,632,217  2,410,000  (835,044) (3,077,673) 7,129,500 
Total exercisable    6,883,717           4,408,250 
Weighted Average                  
Exercise Price (CDN$)   $0.45 $0.37 $0.25 $0.33 $0.50 
Weighted Average Remaining Life                3.0 years 

1.  150,000 options exercisable at CAD $0.60 per share expired unexercised on May 26, 2020 and 50,000 options exercisable at CAD $0.55 per share expired unexercised on July 10, 2020.

The Company had the following incentive stock options granted under its Plan and 2016 Plan that are issued and outstanding at March 31, 2019:

  Exercise  Balance           Balance 
Expiry Date Price (CDN$)  March 31, 2018  Granted  Exercised  Forfeited  March 31, 2019 
July 3, 2018$0.40  50,000      (50,000)  
July 3, 2018$0.25  750,000    (50,000) (700,000)  
September 1, 2018$0.25  20,000    (20,000)    
December 23, 2019$0.25  275,000        275,000 
December 23, 2019$0.25  2,984,717    (600,000)   2,384,717 
December 23, 2019$0.25  300,000      (25,000) 275,000 
July 10, 2020$0.55  50,000        50,000 
March 25, 2020$0.25  200,000        200,000 
May 26, 2020$0.60  150,000        150,000 
February 4, 2021$0.35  500,000        500,000 
May 6, 2021$0.35  530,000        530,000 
October 27, 2021$0.62  500,000        500,000 
February 2, 2022$0.75  715,000      (50,000) 665,000 
May 26, 2022$0.60  200,000        200,000 
May 26, 2022$0.75  1,037,500        1,037,500 
December 18, 2022$0.45  235,000        235,000 
May 4, 2023$0.50    630,000      630,000 
November 20, 2023$0.43    350,000      350,000 
February 12, 2024$0.50     650,000        650,000 
Total outstanding    8,497,217  1,630,000  (670,000) (825,000) 8,632,217 
Total exercisable    7,003,717           6,883,717 
Weighted Average                  
Exercise Price (CDN$)   $0.41 $0.48 $0.25 $0.29 $0.45 
Weighted Average Remaining Life                2.3 years 

 

The Company had the following incentive stock options granted under its Plan and 2016 Plan that were issued and outstanding at March 31, 2018:

     Incentive Stock Options 
                   
  Exercise  Balance           Balance 
Expiry Date Price (CDN$)  March 31, 2017  Granted  Exercised  Forfeited  March 31, 2018 
April 25, 2017$0.82  25,000      (25,000)  
July 3, 2017$0.25  45,000    (45,000)    
February 22, 2018$0.25  250,000    (250,000)    
July 3, 2018$0.40  150,000    (100,000)   50,000 
July 3, 2018$0.25  750,000        750,000 
September 1, 2018$0.25  20,000        20,000 
December 23, 2019$0.25  375,000    (100,000)   275,000 
December 23, 2019$0.25  3,884,717    (900,000)   2,984,717 
December 23, 2019$0.25  300,000        300,000 
July 10, 2020$0.55    50,000      50,000 
March 25, 2020$0.25  200,000        200,000 
May 26, 2020$0.60    150,000      150,000 
September 1, 2020$0.25  100,000    (100,000)    
February 4, 2021$0.35  500,000        500,000 
May 6, 2021$0.35  530,000        530,000 
October 27, 2021$0.62  500,000        500,000 
February 2, 2022$0.75  715,000        715,000 
May 26, 2022$0.60    200,000      200,000 
May 26, 2022$0.75    1,037,500      1,037,500 
December 18, 2022$0.45    260,000    (25,000) 235,000 
Total outstanding    8,344,717  1,697,500  (1,495,000) (50,000) 8,497,217 
Total exercisable    6,272,217           7,003,717 
Weighted Average                  
Exercise Price (CDN$)   $0.33 $0.67 $0.26 $0.65 $0.41 
Weighted Average Remaining Life                2.5 years 
Schedule of weighted-average assumptions used for valuation of stock option grants
For the year endedMarch 31, 2020March 31, 2019March 31, 2018
Share price on grant dateCDN$0.37CDN$0.47CDN$0.56
Exercise priceCDN$0.37CDN$0.48CDN$0.57
Risk-free interest rate1.35%1.31%1.07%
Expected life of options5 years5 years5 years
Annualized volatility (1)73%100%100%
Dividend raten/an/an/a
(1) Expected volatility was determined by reference to historical volatility.