OPTIONS AND WARRANTS
|6 Months Ended|
Sep. 30, 2018
|OPTIONS AND WARRANTS [Text Block]||
NOTE 7 – OPTIONS AND WARRANTS
On May 30, 2018, we completed private placements of an aggregate of 5,131,665 units of our securities at a price of US$0.75 per unit for aggregate gross proceeds of US$3,848,748.75. Each unit consisted of one share of our common stock and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder to acquire one additional share of our common stock at a price of US$0.90 per share for a period of two years.
On September 27, 2018, the Company issued 1,619,947 units at a price of CDN$2.50 per unit for aggregate gross proceeds of CDN$4,049,867 in connection with a private placement. Each unit consists of one share of common stock of the Company and one share purchase warrant, with each warrant entitling the holder thereof to purchase one additional share of common stock of the Company at a price of CDN$2.90 per share for a period of two years. The Company paid finder’s fees of CDN$165,630 and issued 66,210 finder’s warrants in connection with the private placement resulting in an expense of $131.030. The Company calculated the value of the finder fees warrants using a Black-Scholes, a level 3 valuation measure. Each finder’s warrant is non-transferable and entitles the holder thereof to purchase one additional share of common stock of the Company at a price of CDN$2.90 per share for a period of two years. The Company recorded the value of $131.030 of the warrants issued as additional paid in capital, the value was determine using a Black-Scholes, a level 3 valuation measure.
The fair value of the finder fee warrants granted during the year quarter ending September 30. 2018 was estimated at the date of agreement using the Black- Scholes option-pricing model and a level 3 valuation measure, with the followingassumptions:
The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef