EQUITY (Tables)

9 Months Ended

Dec. 31, 2019

EQUITY

Summary of allocation of net proceeds

Net proceeds were allocated as the follows:

Warrants	$	3,150,006
Common stock		1,992,118
Total net proceeds	$	5,142,124

Summary of outstanding warrants

The Company has outstanding warrants as following:

			Weighted		Average
			Average		Remaining
	Warrants	Warrants	Exercise		Contractual
	Outstanding	Exercisable	Price		Life
Balance, March 31, 2018	337,940	337,940	$	4.80	4.96
Granted	—	—		—	—
Forfeited	—	—		—	—
Exercised	(300,000)	(300,000)	$	4.80	—
Balance, March 31, 2019	37,940	37,940	$	4.80	3.96
Granted	2,594,850	2,594,850	$	3.70	4.00
Forfeited	—	—		—	—
Exercised	(1,113,188)	(1,113,188)		—	—
Balance, December 31, 2019	1,519,602	1,519,602	$	1.76	3.45

Schedule of RSU activity

A summary of RSU activity for the year ended March 31, 2019 and for the nine months ended December 31, 2019 is as follows:

		Weighted-Average
		Grant Date Fair
	Number of Shares	Value
Balance of RSUs outstanding at March 31, 2018	—	$	—
Grants of RSUs	25,000	$	4.42
Vested RSUs	(6,250)	$	4.42
Forfeited RSUs	(7,500)	$	4.42
Balance of unvested RSUs at March 31, 2019	11,250	$	4.42
Grants of RSUs	151,515		0.66
Vested RSUs	(11,250)	$	4.42
Forfeited RSUs	—		—
Balance of unvested RSUs at December 31, 2019 (Unaudited)	151,515	$	0.66