Quarterly report pursuant to Section 13 or 15(d)

OPTIONS AND WARRANTS

v3.21.2
OPTIONS AND WARRANTS
6 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
OPTIONS AND WARRANTS [Text Block]

NOTE 6 - OPTIONS AND WARRANTS

Options

The Company issued 162,668 shares of common stock during the three months ending June 30, 2021 in connection with the exercise of stock options of which 91,000 options were with a payment to the Company for the exercise price of $48,230 and the remaining amount of stock options were exercised as a cashless exercise under the plan.

The Company issued 118,692 shares of common stock during the three months ending September 30, 2021 in connection with the exercise of stock options of which 55,000 options were with a payment to the Company for the exercise price of $59,950 and the remaining amount of stock options were exercised as a cashless exercise under the plan.

On July 27, 2021, the Company granted an aggregate of 454,000 stock options to certain employees for the purchase of up to 454,000 shares of common stock pursuant to the 2020 Equity Incentive Plan. Each stock option is exercisable at a price of $1.75 per share until July 27, 2031.

Warrants

The Company issued 1,277,777 shares of common stock during the three months ending June 30, 2021 in connection with the exercise of warrants with a payment to the Company for the exercise price of $652,777.

The Company issued 9,523,376 shares of common stock during the three months ending September 30, 2021 in connection with the exercise of warrants with a payment to the Company for the exercise price of $11,904,220.

On September 29, 2021, the Company issued 4,757,381 share purchase warrant and at exercise price of $1.25 per share.  These warrants were issued in connection with the private placement of common stock on September 29, 2021.