Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS' EQUITY (Tables)

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STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Mar. 31, 2017
Equity [Abstract]  
Schedule of common stock activity

The following summarizes the Series C Preferred Stock converted during the year ended March 31, 2017:

 

      Number of Shares     Face     Common Stock     Additional Dividend Premium     Total Common  
Date     Converted     Value     Due     Shares     Stock  
December 22, 2016       32     $ 320,000       98,462       969,138       1,067,600  
January 9, 2017       21       210,000       64,616       657,196       721,812  
January 25, 2017       21       210,000       64,616       780,694       845,310  
February 24, 2017       21       210,000       64,616       1,138,159       1,202,775  
March 2, 2017       15       150,000       46,154       812,971       859,125  
March 29, 2017       13       130,000       40,000       1,247,235       1,287,235  
        123     $ 1,230,000       378,464       5,605,393       5,983,857  
Schedule of outstanding warrants

 The following summarizes Camber’s warrant activity for each of the years ended March 31, 2017 and 2016:

 

    2017     2016  
          Weighted           Weighted  
          Average           Average  
    Number of     Exercise     Number of     Exercise  
    Warrants     Price     Warrants     Price  
 Outstanding at Beginning of Year     232,585     $ 47.64       232,585     $ 50.34  
 Issued     2,620,013       3.70              
 Expired     (1,211,534 )     10.05              
 Exercised     (1,384,616 )     3.25              
 Outstanding at End of Year     256,448     $ 12.94       232,585     $ 47.64  
                                 

 

The following is a summary of the Company’s outstanding warrants at March, 31, 2017:

 

Warrants Outstanding     Exercise Price ($)     Expiration Date   Intrinsic Value at
March 31, 2017
 
                   
  41,300  (1)     57.50     October 18, 2017   $  
  11,000  (2)     37.50     April 4, 2018      
  2,000  (3)     37.50     May 31, 2018      
  11,195  (4)     0.01     April 21, 2019     6,483  
  66,668  (5)     4.05     April 21, 2017      
  124,285  (6)     1.50     April 21, 2021      
  256,448                 $ 6,483  

 

(1) Warrants issued in connection with the sale of units in the Company’s unit offering in April 2012. The warrants became exercisable on October 18, 2012, and will remain exercisable thereafter until October 18, 2017.

(2) Warrants issued in connection with the issuance of certain notes in April 2013, of which the outstanding principal and interest was paid in full on August 16, 2013. The warrants were exercisable on the grant date (April 4, 2013) and remain exercisable until April 4, 2018.

(3) Warrants issued in connection with the issuance of certain notes in May 2013, of which the outstanding principal and interest was paid in full on August 16, 2013. The warrants were exercisable on the grant date (May 31, 2013) and remain exercisable until May 31, 2018.

(4) Warrants issued in connection with the Rogers Loan. The warrants were exercisable on the grant date (August 13, 2013) and remain exercisable until August 13, 2018. The exercise price was lowered to $0.01 per share on August 12, 2015.

(5) Warrants issued in connection with the sale of units in the Company’s unit offering in April 2014. The Warrants became exercisable on April 21, 2014 and will remain exercisable thereafter until April 21, 2019.

(6) Warrants issued in connection with the HFT Convertible Promissory Notes. The warrants were exercisable on the grant date (April 26, 2016) and remain exercisable until April 26, 2021.