Quarterly report pursuant to Section 13 or 15(d)

Shareholder's Equity (Tables)

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Shareholder's Equity (Tables)
9 Months Ended
Dec. 31, 2018
Equity [Abstract]  
Schedule of Option Activity

A summary of the Company’s options for the nine months ended December 31, 2018 is as follows:

 

    Number Of Options     Weighted
Average
Exercise price
    Weighted
Average
Remaining
Contractual
Life
 
                   
Options outstanding as of April 1, 2018     510,904     $ 4.32       9.0  
Granted     1,381,000       4.25          
Exercised     (9,601 )     4.25          
Forfeited     (33,333 )     4.25          
                         
Options outstanding as of December 31, 2018     1,848,970     $ 4.29       8.9  
Options exercisable as of December 31, 2018     761,896     $ 4.29       8.6

Schedule of Assumption of Black-Scholes Option Pricing Model

      December 31, 2018       December 31, 2017  
Risk -free interest rate     2.5% - 3.2 %     2.1% - 3.5 %
Expect volatility     80.7% - 83 %     75.2 %
Expected terms (in years)     5-9.9       5.5-7.5  
Dividend yield     0 %     0 %

Schedule of Stock-based Compensation Expense

The following summarizes the components of stock-based compensation expense which includes common stock, stock options, warrants and restricted stock in the condensed consolidated statements of comprehensive income (loss) for the three and nine months ended December 31, 2018 and 2017, respectively

 

    Three Months Ended     Nine Months Ended  
    December 31,     December 31,  
    2018     2017     2018     2017  
                         
Research and development   $ 88,830     $ 44,430     $ 187,103     $ 117,597  
General and administrative     676,949       178,195       1,506,796       2,391,312  
                                 
Total stock-based compensation expense   $ 765,779     $ 222,625     $ 1,693,899     $ 2,508,909

Summary of Company's Outstanding Warrants

A summary of the Company’s outstanding warrants as of December 31, 2018 are as follows:

 

Warrant Holders   Number Of Warrants     Exercise
Price
    Date Of
Expiration
 
January 2017 offering - investors     1,701,616     $ 4.25       January 2022 (a)
January 2017 offering - investors     1,701,616     $ 4.25       February 2022 (a)
March 2017 offering - investors     220,988     $ 4.25       March 2021  
March 2017 offering - placement agent     11,050     $ 4.25       March 2021  
February 2018 offering - investors     2,299,802     $ 4.25       March 2022  
Third-party     208,333     $ 4.80       January 2024  
                         
Total     6,143,405                  

 

  (a) These warrants have down round protection.