Quarterly report pursuant to Section 13 or 15(d)

Capital Stock (Tables)

v2.4.0.8
Capital Stock (Tables)
6 Months Ended
Sep. 30, 2013
Capital Stock Tables  
Black-Scholes Option Pricing Model

 

Assumption:   Pre-modification     Post-modification  
Market price per share (weighted average)   $ 0.74     $ 0.74  
Exercise price per share (weighted average)   $ 1.50     $ 0.50  
Risk-free interest rate (weighted average)     0.82%       0.03%  
Expected term in years (weighted average)     3.47       0.06  
Volatility (weighted average)     84.6%       73.3%  
Dividend rate     0.0%       0.0%  
                 
Weighted Average Fair Value per share   $ 0.30     $ 0.24  

 

Description of units

 

Unit Sale

Date

 

Warrant

Shares

Issued

  Issuance Date Valuation Assumptions    

Per Share

Fair

Value of

Warrant

 

Fair

Value of Unit

Warrant

 

Proceeds

of Unit

Sales

 

Allocation of Proceeds Based on

Relative Fair Value of:

 
   

Market

Price

 

Exercise

Price

 

Term

(Years)

 

Risk free

Interest

Rate

  Volatility  

Dividend

Rate

          Unit Stock  

Unit

Warrant

  Unit Note  
 8/6/2013    400,000   $0.62     1.00    2.98      0.61%    75.50%    0.0%      $0.23    $91,300    $200,000    $92,000    $33,800    $74,200  
 9/30/2013    10,000   $0.61     1.00    2.83      0.58%    77.37%    0.0%      $0.22    2,200    5,000    2,300    800    1,900  
  410,000                                 $93,500 $205,000   $94,300   $34,600   $76,100  

 

Warrant exercises and grants
        Shares Subject to  
Exercise       Purchase at  
Price   Expiration   September 30,  
per Share   Date   2013  
           
$ 0.50   10/11/2017 to 7/26/2018     3,522,577  
$ 0.64   3/3/2023     2,950,000  
$ 0.88   5/11/2014     15,428  
$ 1.00   9/15/2017 to 9/30/2017     3,590,482  
$ 1.25   5/11/2014 to 12/31/2014     120,280  
$ 1.50   12/31/2013 to 3/14/2018     3,465,723  
$ 1.75   12/31/2013     349,235  
$ 2.00   9/15/2017     425,000  
$ 2.50   5/11/2014     42,443  
$ 2.625   12/31/2013     68,560  
$ 3.00   2/13/2016     125,000  
            14,674,728