Annual report pursuant to Section 13 and 15(d)

OPTIONS AND WARRANTS (Tables)

v3.2.0.727
OPTIONS AND WARRANTS (Tables)
12 Months Ended
Mar. 31, 2015
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
                Weighted-  
          Weighted-     Average  
          Average     Remaining  
    Number of     Exercise     Contractual  
    Shares     Price     Term (years)  
Outstanding at March 31, 2014   6,000,000   $ 0.61     8.8  
Granted   17,352,000   $ 0.14     9.1  
Exercised   (182,000 ) $ 0.01     9.5  
Expired/Forfeited   (6,000,000 ) $   -     8.5  
Outstanding at March 31, 2015   17,170,000   $ 0.14     8.5  
Exercisable at March 31, 2015   16,907,500   $ 0.14     8.5  
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block]
          Weighted-  
    Number     Average  
    of Warrants     Exercise Price  
Outstanding at March 31, 2014   8,310,415   $ 0.52  
   Granted   29,249,253     0.13  
   Exercised   (14,529,256 )   (0.31 )
   Cancelled   -     0.00  
Outstanding at March 31, 2015   23,030,412     0.14  
Warrants exercisable at March 31, 2015   21,313,672   $ 0.14  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
    STOCK WARRANTS OUTSTANDING AND EXERCISABLE  
          Weighted-  
          Average  
    Number of     Remaining  
    Warrants     Contractual  
Exercise Price   Outstanding     Life in Years  
$0.1000   3,383,260     4.9  
$0.1250   16,245,995     4.0  
$0.1875   953,333     4.1  
$0.2500   2,325,582     1.8  
$0.5500   116,279     2.4  
$0.6000   5,963     .3  
Schedule of Share-based Payment Award, Warrants, Valuation Assumptions [Table Text Block]
Market value of stock on grant date $ 0.1245  
Risk-free interest rate (1)   1.47%  
Dividend yield   0.00%  
Volatility factor   165%  
Weighted average expected life (years) (2)   5  
Expected forfeiture rate   0.00%