Shareholders' Equity

9 Months Ended

Dec. 31, 2016

Equity [Abstract]

Shareholders' Equity

NOTE 12- SHAREHOLDERS’ EQUITY

COMMON STOCK ISSUANCES

On November 6, 2016, the Company issued 36,000 shares of its common stock to two employees who exercised stock options at an exercise price of $.33 per share.

On August 10, 2016, the Company issued 41,668 shares of its common stock to our Board of Directors at $0.24 per share, pursuant to our annual director compensation plan for the fiscal year ending March 31, 2016.

STOCK OPTIONS

On August 10, 2016, the Company granted 100,000 stock options to the Vice President of Sales and Marketing with an exercise price of $0.32 per share with a one year vesting period pursuant to a sales incentive program for the fiscal year ended March 31, 2016.

The fair value of the option grant was estimated on the date of the grant using the Black-Scholes option-pricing model with the assumptions outlined below. The expected volatility is based upon historical volatility of our stock and other contributing factors. The expected term is based upon observation of actual time elapsed between date of grant and exercise of options for all employees and other contributing factors.

● For the three and nine months ended December 31, 2016: expected dividend yield 0%, risk-free interest rate of 0.55%, volatility 145.0% and expected term of three years.

A summary of stock option activity for the nine months ended December 31, 2016 is summarized below.

	Number of Options			Weighted Average Exercise Price
Stock Options:
Balance at beginning of period		1,972,000		$	0.19
Granted		100,000			0.32
Exercised		(36,000	)		0.33
Forfeited		(6,000	)		0.33
Balance at end of period		2,030,000		$	0.19
Options Exercisable at end of period		1,785,000		$	0.18