Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.24.1.1.u2
Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of weighted-average assumptions of fair value of employee stock options
           
    Year Ended March 31,  
    2024     2023  
Fair value of the Company’s common stock on date of grant   $ 0.19     $ 1.09  
Expected term     5.56 yrs       6.00 yrs  
Risk-free interest rate     3.87%       3.92%  
Dividend yield     0.00%       0.00%  
Volatility     98.40%       110.88%  
Fair value of options granted   $ 0.15     $ 0.92  
Schedule of stock based awards outstanding by plan
     
       
Plan   Stock Options  
2006 Plan     183  
2011 Plan     81,336  
2016 Plan     328,733  
2021 Plan     622,747  
      1,032,999  
Schedule of options activity
                               
Stock options award activity is as follows:                        
    Number of
Shares		     Weighted-
Average
Exercise Price		     Weighted-
Average
Contractual Term		     Aggregate
Intrinsic
Value		  
Outstanding at April 1, 2023     565,027     $ 8.84                  
Options granted     500,000       0.19                  
Options exercised     –       –                  
Options forfeited     (17,753 )     1.40                  
Options expired     (14,275 )     128.54                  
Outstanding at March 31, 2024     1,032,999     $ 3.13       8.91     $ 2.25  
Exercisable at March 31, 2024     698,454     $ 4.06       8.54     $ 2.25  
Schedule of unvested restricted stock activity
               
Restricted stock award activity is as follows:            
   

Number of

Shares

    

Weighted

Average Award

Date Fair Value

per Share

  
Unvested restricted stock awards outstanding at April 1, 2023     –     $ –  
Restricted stock awards granted     251,000       1.04  
Restricted stock awards vested     (251,000 )     1.04  
Unvested restricted stock awards outstanding at March 31, 2024     –     $ –