6. STOCK-BASED COMPENSATION COSTS

9 Months Ended

Dec. 31, 2015

Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]

STOCK-BASED COMPENSATION COSTS

6. STOCK-BASED COMPENSATION COSTS

The Company accounts for stock-based compensation under the provisions of ASC 718, Share-Based Payment and ASC 505-50, Equity-Based Payments to Non-Employees. ASC 718 requires measurement of all employee stock-based awards using a fair-value method and recording of related compensation expense in the consolidated financial statements over the requisite service period. Further, as required under ASC 718, the Company estimates forfeitures for stock-based awards that are not expected to vest. The Company recorded stock-based compensation in its consolidated statements of operations for the relevant periods as follows:

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2015		2014		2015		2014
	$		$		$		$
Research and development		2,782		2,547		13,270		7,641
Selling and administrative		4,358		9,982		54,691		29,946
Total stock-based compensation expense		7,140		12,529		67,961		37,587

As of December 31, 2015 total estimated compensation cost of stock options granted but not yet vested was $39,598 and is expected to be recognized over the weighted average period of approximately nine months.

No stock options were granted during the three or nine-month periods ended December 31, 2015 and 2014.

See Note 7 for further information on outstanding stock options.