Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS, EQUITY (DEFICIT) (Tables)

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STOCKHOLDERS, EQUITY (DEFICIT) (Tables)
6 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Schedule of common stock activity

The following summarizes the Company’s common stock activity during the six-month period ended September 30, 2018:  

 

          Common Shares  
    Amount(a)     Per Share     Issued and
Outstanding Shares
 
Balance at March 31, 2018                     5,758,970  
Preferred Stock Series C Conversion(b)                 67,587,868  
Preferred Stock Series B Dividends     2,183       0.62       3,502  
Warrants – Abeyance(b)                 308,411  
Issuance of Common Stock for settlement of consulting agreement                 50,000  
Issuance of Common Stock of Prior Conversion of Convertible Notes                 141,982  
Balance at September 30, 2018                     73,850,733  

    

  (a) Net proceeds or fair value on grant date, as applicable.

  (b) Shares previously held in abeyance until such time as it would not result in the investor exceeding its beneficial ownership limitation (4.99% of the Company’s outstanding common stock).

 

Schedule of outstanding warrants

The following is a summary of the Company’s outstanding warrants at September 30, 2018:

 

Warrants     Exercise     Expiration    

Intrinsic Value at

 
Outstanding     Price ($)     Date     September 30, 2018  
  2,667 (1)     61.50       April 21, 2019        
  4,972 (2)     37.50       April 21, 2021        
  64,000 (3)     6.25       June 12, 2022        
  1,000,000 (4)     0.39       May 24, 2023        
  1,071,639                     $  

  

  (1) 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.
  (2) Warrants issued in connection with the sale of convertible notes. The warrants were exercisable on the grant date (April 26, 2016) and remain exercisable until April 26, 2021.
  (3) Warrants issued in connection with the Initial Tranche of the funding from Vantage. The warrants were exercisable on the grant date (June 12, 2017) and remain exercisable until June 12, 2022.
  (4) Warrants issued in connection with the Severance Agreement with Richard Azar. The warrants were exercisable on the grant date (May 25, 2018) and remain exercisable until May 24, 2023.