Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Sep. 30, 2016 | Nov. 18, 2016 | |
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2016 | |
Trading Symbol | wter | |
Entity Registrant Name | ALKALINE WATER Co INC | |
Entity Central Index Key | 1,532,390 | |
Current Fiscal Year End Date | --08-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 15,971,977 | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well Known Seasoned Issuer | No | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) | Sep. 30, 2016 | Mar. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 189,711 | $ 1,192,119 |
Accounts receivable | 1,079,838 | 911,390 |
Inventory | 547,609 | 434,708 |
Prepaid expenses | 21,100 | 10,806 |
Total current assets | 1,838,258 | 2,549,023 |
Fixed assets - net | 1,125,834 | 1,226,534 |
Equipment deposits - related party | 104,619 | 0 |
Total assets | 3,068,711 | 3,775,557 |
Current liabilities | ||
Accounts payable | 957,835 | 847,452 |
Accrued expenses | 389,879 | 251,613 |
Revolving financing | 563,191 | 475,273 |
Current portion of capitalized leases | 263,568 | 243,623 |
Note payable, net of debt discount | 0 | 283,120 |
Note payable with original issue discount, net of debt discount | 3,811 | 41,248 |
Current portion of convertible notes payable, net of debt discount | 54,100 | 0 |
Derivative liability | 4,786 | 11,143 |
Total current liabilities | 2,237,170 | 2,153,472 |
Long-term Liabilities | ||
Capitalized leases | 9,742 | 95,204 |
Convertible notes payable, net of debt discount | 200,000 | 0 |
Total long-term liabilities | 209,742 | 95,204 |
Total liabilities | 2,446,912 | 2,248,676 |
Stockholders' deficit | ||
Preferred stock, $0.001 par value, 100,000,000 shares authorized, Series A issued 20,000,000, Series C issued 3,000,000 | 23,000 | 23,000 |
Common stock, Class A - $0.001 par value, 22,500,000 shares authorized, 16,030,697 and 14,568,970 shares issued and outstanding at September 30, 2016 and March 31, 2016, respectively | 16,029 | 14,568 |
Additional paid in capital | 22,806,011 | 21,423,247 |
Common stock issuable | 0 | 0 |
Accumulated deficit | (22,223,241) | (19,933,934) |
Total stockholders' deficit | 621,799 | 1,526,881 |
Total liabilities and stockholders' deficit | $ 3,068,711 | $ 3,775,557 |
CONSOLIDATED BALANCE SHEET (Par
CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares | Sep. 30, 2016 | Mar. 31, 2016 |
Preferred Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 22,500,000 | 22,500,000 |
Common Stock, Shares, Issued | 16,030,697 | 14,568,970 |
Common Stock, Shares, Outstanding | 16,030,697 | 14,568,970 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 20,000,000 | 20,000,000 |
Series C Preferred Stock [Member] | ||
Preferred Stock, Shares Issued | 3,000,000 | 3,000,000 |
CONSOLIDATED STATEMENT OF OPERA
CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Revenue | $ 3,007,538 | $ 1,719,268 | $ 5,954,287 | $ 3,232,846 |
Cost of Goods Sold | 1,896,112 | 1,105,522 | 3,686,825 | 2,082,326 |
Gross Profit | 1,111,426 | 613,746 | 2,267,462 | 1,150,520 |
Operating expenses | ||||
Sales and marketing expenses | 1,060,390 | 768,055 | 2,146,389 | 1,394,736 |
General and administrative | 1,056,741 | 736,922 | 1,897,515 | 1,888,462 |
Depreciation | 90,958 | 71,100 | 180,397 | 142,129 |
Total operating expenses | 2,208,089 | 1,576,077 | 4,224,301 | 3,425,327 |
Total operating loss | (1,096,663) | (962,331) | (1,956,839) | (2,274,807) |
Other income (expense) | ||||
Interest income | 4 | 10 | 102 | 10 |
Interest expense | (100,043) | (76,358) | (212,644) | (143,765) |
Amortization of debt discount and accretion | (81,025) | (81,500) | (126,283) | (88,083) |
Change in derivative liability | 2,051 | 125,502 | 6,357 | (42,662) |
Total other income (expense) | (179,013) | (32,346) | (332,468) | (274,500) |
Net loss | $ (1,275,676) | $ (994,677) | $ (2,289,307) | $ (2,549,307) |
EARNINGS PER SHARE (Basic) | $ (0.08) | $ (0.34) | $ (0.15) | $ (0.92) |
WEIGHTED AVERAGE SHARES OUTSTANDING (Basic) | 15,390,421 | 2,899,813 | 15,070,758 | 2,768,769 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) | 6 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (2,289,307) | $ (2,549,307) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation expense | 180,397 | 142,129 |
Stock compensation expense | 319,125 | 918,584 |
Amortization of debt discount and accretion | 137,369 | 88,083 |
Interest expense relating to amortization of capital lease discount | 51,504 | 51,277 |
Change in derivative liabilities | (6,357) | 42,662 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (168,448) | (248,181) |
Inventory | (112,901) | (64,073) |
Prepaid expenses and other current assets | (10,294) | 15,000 |
Accounts payable | 110,383 | 340,509 |
Accounts payable - related party | 0 | (43,036) |
Accrued expenses | 138,266 | 31,791 |
NET CASH USED IN OPERATING ACTIVITIES | (1,650,263) | (1,274,562) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of fixed assets | (79,696) | (2,850) |
Equipment deposits - related party | (104,619) | (139,997) |
CASH USED IN INVESTING ACTIVITIES | (184,315) | (142,847) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from notes payable | 510,000 | 430,000 |
Proceeds from convertible note payable | 0 | 275,000 |
Proceeds from revolving financing | 87,918 | 13,894 |
Proceeds from sale of common stock, net | 425,000 | 746,200 |
Proceeds for the exercise of warrants, net | 300,000 | 0 |
Repayment of notes payable | (373,727) | 0 |
Repayment of capital lease | (117,021) | (99,103) |
CASH PROVIDED BY FINANCING ACTIVITIES | 832,170 | 1,365,991 |
NET CHANGE IN CASH | (1,002,408) | (51,418) |
CASH AT BEGINNING OF PERIOD | 1,192,119 | 90,113 |
CASH AT END OF PERIOD | 189,711 | 38,695 |
INTEREST PAID | $ 36,023 | $ 67,362 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Sep. 30, 2016 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Text Block] | NOTE 1 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring adjustments, unless otherwise indicated) necessary to present fairly the financial position and results of operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These financial statements should be read in conjunction with the financial statements of the Company for the year ended March 31, 2016 (including the notes thereto) set forth on Form 10-K. The Company uses as guidance the Accounting Standard Codification (ASC) as established by the Financial Accounting Standards Board (FASB). Principles of consolidation The consolidated financial statements include the accounts of The Alkaline Water Company Inc. (a Nevada Corporation), Alkaline Water Corp. (an Arizona Corporation) and Alkaline 88, LLC (an Arizona Limited Liability Company). All significant intercompany balances and transactions have been eliminated. The Alkaline Water Company Inc. (a Nevada Corporation), Alkaline Water Corp. (an Arizona Corporation) and Alkaline 88, LLC (an Arizona Limited Liability Company) will be collectively referred herein to as the “Company”. Any reference herein to “The Alkaline Water Company Inc.”, the “Company”, “we”, “our” or “us” is intended to mean The Alkaline Water Company Inc., including the subsidiaries indicated above, unless otherwise indicated. Reverse split Effective December 30, 2015, the Company effected a fifty for one reverse stock split of its authorized and issued and outstanding shares of common stock. As a result, the authorized common stock has decreased from 1,125,000,000 shares of common stock, with a par value of $0.001 per share, to 22,500,000 shares of common stock, with a par value of $0.001 per share. All shares and per share amounts have been retroactively restated to reflect such split. On January 21, 2016, stockholders of our company approved, by written consents, an amendment to the articles of incorporation of our company to increase the number of authorized shares of our common stock from 22,500,000 to 200,000,000. The Company received written consents representing 20,776,000 votes from the holders of shares of its common stock and our Series A Preferred Stock voting as a single class, representing approximately 61% of the voting power of its outstanding common stock and its outstanding Series A Preferred Stock voting as a single class as of the record date (January 12, 2016). On January 21, 2016, there were no written consents received by the Company representing a vote against, abstention or broker non-vote with respect to the proposal. Our authorized preferred stock was not affected by the reverse stock split and continues to be 100,000,000 shares of preferred stock, with a par value of $0.001 per share. In addition, the number of issued and outstanding shares of Series A Preferred Stock continues to be 20,000,000. However, holders of Series A Preferred Stock had 0.2 vote per share of Series A Preferred Stock, instead of 10 votes per share of Series A Preferred Stock, as a result of the reverse stock split. On January 22, 2016, the Company amended the certificate of designation for our Series A Preferred Stock by filing an amendment to certificate of designation with the Secretary of State of the State of Nevada. The Company amended the certificate of designation for our Series A Preferred Stock by deleting Section 2.2 of the certificate of designation, which proportionately increases or decreases the number of votes per share of Series A Preferred Stock in the event of any dividend or other distribution on our common stock payable in its common stock or a subdivision or consolidation of the outstanding shares of its common stock. Accordingly, holders of Series A Preferred Stock will have 10 votes per share of Series A Preferred Stock, instead of 0.2 votes per share of Series A Preferred Stock. Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. Cash and cash equivalents The Company considers all highly liquid instruments with an original maturity of three months or less to be considered cash equivalents. The carrying value of these investments approximates fair value. The Company had $189,712 and $1,192,119 in cash and cash equivalents at September 30, 2016 and March 31, 2016, respectively. Accounts receivable and allowance for doubtful accounts The Company generally does not require collateral, and the majority of its trade receivables are unsecured. The carrying amount for accounts receivable approximates fair value. Accounts receivable are periodically evaluated for collectability based on past credit history with clients. Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions. Inventory Inventory represents raw and blended chemicals and other items valued at the lower of cost or market with cost determined using the weight average method which approximates first-in first-out method, and with market defined as the lower of replacement cost or realizable value. As of September 30, 2016 and March, 31 2016, inventory consisted of the following: September 30, March 31, 2016 2016 Raw materials $ 328,338 $ 300,575 Finished goods 219,271 134,133 Total inventory $ 547,609 $ 434,708 Property and equipment The Company records all property and equipment at cost less accumulated depreciation. Improvements are capitalized while repairs and maintenance costs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful life of the assets or the lease term, whichever is shorter. Depreciation periods are as follows for the relevant fixed assets: Equipment 5 years Equipment under capital lease 3 years or term of the lease Stock-based Compensation The Company accounts for stock-based compensation to employees in accordance with Accounting Standards Codification (“ASC”) 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of stock-based payments using the Black-Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances. Revenue recognition The Company recognizes revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount to be paid by the customer is fixed or determinable; and (4) the collection of such amount is probable. The Company records revenue when it is realizable and earned upon shipment of the finished products. The Company does not accept returns due to the nature of the product. However, the Company will provide credit to our customers for damaged goods. Fair value measurements The valuation of our embedded derivatives and warrant derivatives are determined primarily by the multinomial distribution (Lattice) model. An embedded derivative is a derivative instrument that is embedded within another contract, which under the convertible note (the host contract) includes the right to convert the note by the holder, certain default redemption right premiums and a change of control premium (payable in cash if a fundamental change occurs). In accordance with ASC 815 “ Accounting for Derivative Instruments and Hedging Activities” Level 1 unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Level 2 inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Level 3 unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. To determine the fair value of our embedded derivatives, management evaluates assumptions regarding the probability of certain future events. Other factors used to determine fair value include our period end stock price, historical stock volatility, risk free interest rate and derivative term. The fair value recorded for the derivative liability varies from period to period. This variability may result in the actual derivative liability for a period either above or below the estimates recorded on our consolidated financial statements, resulting in significant fluctuations in other income (expense) because of the corresponding non-cash gain or loss recorded. Income taxes In accordance with ASC 740 “ Accounting for Income Taxes Basic and diluted loss per share Basic and diluted earnings or loss per share (“EPS”) amounts in the consolidated financial statements are computed in accordance ASC 260 – 10 “ Earnings per Share Reclassification Certain accounts in the prior period were reclassified to conform to the current period financial statements presentation. Newly issued accounting pronouncements During the period ended September 30, 2016, there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s consolidated financial statements |
GOING CONCERN
GOING CONCERN | 6 Months Ended |
Sep. 30, 2016 | |
GOING CONCERN [Text Block] | NOTE 2 – GOING CONCERN The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the recoverability and/or acquisition and sale of assets and the satisfaction of liabilities in the normal course of business. Since its inception, the Company has been engaged substantially in financing activities, developing its business plan and building its initial customer and distribution base for its products. As a result, the Company incurred accumulated net losses from Inception (June 19, 2012) through the period ended September 30, 2016 of ($22,223,241). In addition, the Company’s development activities since inception have been financially sustained through debt and equity financing. The ability of the Company to continue as a going concern is dependent upon its ability to raise additional capital from the sale of common stock and, ultimately, the achievement of significant operating revenues. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty. |
PROPERTY AND EQUIPMENT
PROPERTY AND EQUIPMENT | 6 Months Ended |
Sep. 30, 2016 | |
PROPERTY AND EQUIPMENT [Text Block] | NOTE 3 – PROPERTY AND EQUIPMENT Fixed assets consisted of the following at: September 30, 2016 March 31, 2016 Machinery and Equipment $ 1,046,114 $ 970,728 Machinery under Capital Lease 735,781 735,781 Office Equipment 57,941 53,631 Leasehold Improvements 3,979 3,979 Less: Accumulated Depreciation (717,982 ) (537,585 ) Fixed Assets, net $ 1,125,834 $ 1,226,534 Depreciation expense for the years ended September 30, 2016 and September 30 2015 was $180,397 and $142,129, respectively. |
EQUIPMENT DEPOSITS - RELATED PA
EQUIPMENT DEPOSITS - RELATED PARTY | 6 Months Ended |
Sep. 30, 2016 | |
EQUIPMENT DEPOSITS - RELATED PARTY [Text Block] | NOTE 4 – EQUIPMENT DEPOSITS – RELATED PARTY During the six month period ending September 30, 2016 the company made a net deposit on equipment of $104,619 to Water Engineering Solutions. During the six month period ending September 30, 2015 the company made a net deposit on equipment of $139,997 to Water Engineering Solutions. Water Engineering Solutions LLC is an entity that is controlled and majority owned by Steven P. Nickolas and Richard A. Wright for the production of our alkaline water. |
REVOLVING FINANCING
REVOLVING FINANCING | 6 Months Ended |
Sep. 30, 2016 | |
REVOLVING FINANCING [Text Block] | NOTE 5 – REVOLVING FINANCING On February 20, 2014, The Alkaline Water Company Inc., and subsidiaries, Alkaline 88, LLC and Alkaline Water Corp., entered into a revolving accounts receivable funding agreement with Gibraltar Business Capital, LLC (“Gibraltar”). Under the agreement, from time to time, the Company agreed to tender to Gibraltar all of our accounts (which is defined as our rights to payment whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned or otherwise disposed of, or (ii) for services rendered or to be rendered, or (iii) as otherwise defined in the Uniform Commercial Code of the State of Illinois). Gibraltar will have the right, but will not be obligated, to purchase such accounts tendered in its sole discretion. If Gibraltar purchases such accounts, Gibraltar will make cash advances to us as the purchase price for the purchased accounts. The Company assumed full risk of non-payment and unconditionally guaranteed the full and prompt payment of the full face amount of all purchased accounts. The Company also agreed to direct all parties obligated to pay the accounts to send all payments for all accounts directly to Gibraltar. All collections from accounts will be applied to our indebtedness, which is defined as the amount owed by us to Gibraltar from time to time, i.e., all cash advances, plus all charges, plus all other amounts owning from us to Gibraltar pursuant to the agreement, less all collections retained by Gibraltar from either purchased accounts or from us which are applied to indebtedness, unless Gibraltar elects to hold any such collections to establish reserves to secure payment of any purchased accounts. In consideration of Gibraltar’s purchase of the accounts, the Company agreed to pay Gibraltar interest on the indebtedness outstanding at the rate of 8% per annum plus the prime rate in effect at the end of each month with the prime rate for these purposes never being less than 3.25% per annum, calculated on a 360 -day year and payable monthly. In addition, the Company agreed to pay to Gibraltar a monthly collateral/management fee in the amount of 0.5% calculated on the average daily borrowing amount for the given month and an unused line fee of 0.25% monthly based on the difference between the actual line of credit and the average daily borrowing amount for the given month. The Company also agreed to pay to Gibraltar upon execution of the agreement and as of the commencement of each renewal term, a closing cost of 1% of the initial indebtedness in addition to the amount of any other credit accommodations granted from Gibraltar, which amount will be deducted from the first cash advances. The initial indebtedness is $500,000 and the Company increased the amount available under the revolving accounts receivable funding agreement to $900,000 on May 12, 2016. The Company may request further increase(s) to the in $100,000 increments up to $5,000,000, subject the Company’s financial performance and/or projections are satisfactory to Gibraltar, and absent an event of default. The Company also granted to Gibraltar a security interest in all of our presently-owned and hereafter-acquired personal and fixture property, wherever located. The agreement will continue until the first to occur of (i) demand by Gibraltar; or (ii) 24 months from the first day of the month following the date that the first purchased account is purchased and will be automatically renewed for successive periods of 12 months thereafter unless, at least 30 days prior to the end of the term, the Company gives Gibraltar notice of our intention to terminate the agreement. In addition, the Company will be able to exit the agreement at any time for a fee of 2% of the line of credit in place at the time of prepayment. On September 30, 2016 the amount borrowed on this facility was $563,191. |
DERIVATIVE LIABILITY
DERIVATIVE LIABILITY | 6 Months Ended |
Sep. 30, 2016 | |
DERIVATIVE LIABILITY [Text Block] | NOTE 6 – DERIVATIVE LIABILITY On May 1, 2014, the Company sold 346,667 shares of our common stock and warrants to purchase an aggregate of 173,333 shares of our common stock, for aggregate gross proceeds of $2,599,999. Each share of common stock sold in the offering was accompanied by a warrant to purchase one-half of a share of common stock at an exercise price of $7.50 per share for a period of five years from the date of issuance. Each share of common stock, together with each warrant was sold at a price of $7.50. The warrants include down-round provisions that reduce the exercise price of a warrant and convertible instrument On August 20, 2014, the Company entered into a warrant amendment agreement with certain holders of the Company’s outstanding common stock purchase warrants whereby the Company agreed to reduce the exercise price of the Existing Warrants to $5.00 per share. in consideration for the immediate exercise of the Existing Warrants by the Holders and the Holders are to be issued new common stock purchase warrants of the Company in the form of the Existing Warrants to purchase up to a number of shares of our common stock equal to the number of Existing Warrants exercised by the Holders, provided that the exercise price of the New Warrants will be $6. 25 per share, subject to adjustment in the New Warrants. Each New Warrant has a term of five years from the date of issuance. Each share of common stock, together with each warrant was sold at a price of $6.25. The warrants include down-round provisions that reduce the exercise price of a warrant and convertible instrument. . As required by ASC 815 “Derivatives and Hedging” , if the Company either issues equity shares for a price that is lower than the exercise price of those instruments or issues new warrants or convertible instruments that have a lower exercise price, the investors will be entitled to down-round protection. Tthe Company evaluated whether its warrants and convertible debt instruments contain provisions that protect holders from declines in its stock price or otherwise could result in modification of either the exercise price or the shares to be issued under the respective warrant agreements. The Company determined that a portion of its outstanding warrants and conversion instruments contained such provisions thereby concluding they were not indexed to the Company’s own stock and therefore a derivative instrument. As of September 30, 2016, one holders has 6,667 warrants and the derivative liability associated with these warrants is $1,656. Pursuant to the engagement agreement dated March 12, 2014 with H.C. Wainwright & Co., LLC (“Wainwright”), Wainwright agreed to act as our exclusive placement agent in connection with the offering. Pursuant to the engagement agreement, the Company, the Company issued warrants to purchase an aggregate of 5.5% of the aggregate number of shares of our common stock sold in the offering, or 19,067 to Wainwright and its designees. These warrants have an exercise price of $9.38 per share and expire on April 16, 2019. The warrants include down-round provisions that reduce the exercise price of a warrant and convertible instrument. . As required by ASC 815 “Derivatives and Hedging” the Company evaluated whether its warrants and convertible debt instruments contain provisions that protect holders from declines in its stock price or otherwise could result in modification of either the exercise price or the shares to be issued under the respective warrant agreements. The Company determined that a portion of its outstanding warrants and conversion instruments contained such provisions thereby concluding they were not indexed to the Company’s own stock and therefore a derivative instrument. As of September 30, 2016, six holders have 21,392 warrants and the derivative liability associated with these warrants is $3,130. The Company analyzed the warrants and conversion feature under ASC 815 “Derivatives and Hedging” to determine the derivative liability. The Company estimated the fair value of these derivatives using a multinomial distribution (Lattice) valuation model. The fair value of these warrant liabilities at March 31, 2016 was $11,143 at September 30, 2016 was $6,357. Changes in the derivative liability for the period ended September 30, 2016 consist of: Six Months Ended September 30, 2016 Derivative liability at March 31, 2016 $ 11,143 Change in derivative liability – mark to market (6,357 ) Derivative liability at September 30, 2016 $ 4,786 |
STOCKHOLDERS EQUITY
STOCKHOLDERS EQUITY | 6 Months Ended |
Sep. 30, 2016 | |
STOCKHOLDERS EQUITY [Text Block] | NOTE 7 – STOCKHOLDERS’ EQUITY Preferred shares Grant of series A preferred stock On October 8, 2013, the Company issued a total of 20,000,000 shares of non-convertible Series A Preferred Stock to Steven A. Nickolas and Richard A. Wright ( 10,000,000 shares to each), our directors and executive officers, in consideration for the past services, at a deemed value of $0.001 per share. The company valued these shares based on the cost considering the time and average billing rate of these individuals and recorded a $20,000 stock compensation cost for the year ended March 31, 2014. Our authorized preferred stock was not affected by the reverse stock split and continues to be 100,000,000 shares of preferred stock, with a par value of $0.001 per share. In addition, the number of issued and outstanding shares of Series A Preferred Stock continues to be 20,000,000. However, holders of Series A Preferred Stock had 0.2 votes per share of Series A Preferred Stock, instead of 10 votes per share of Series A Preferred Stock, as a result of the reverse-stock split. On January 22, 2016, the Company amended the certificate of designation for our Series A Preferred Stock by filing an amendment to certificate of designation with the Secretary of State of the State of Nevada. The Company amended the certificate of designation for our Series A Preferred Stock by deleting Section 2.2 of the certificate of designation, which proportionately increases or decreases the number of votes per share of Series A Preferred Stock in the event of any dividend or other distribution on our common stock payable in its common stock or a subdivision or consolidation of the outstanding shares of its common stock. Accordingly, holders of Series A Preferred Stock will have 10 votes per share of Series A Preferred Stock, instead of 0.2 votes per share of Series A Preferred Stock. Grant of series C Convertible preferred stock On March 30, 2016, the Company designated 3,000,000 shares of the authorized and unissued preferred stock of our company as “Series C Preferred Stock” by filing a Certificate of Designation with the Secretary of State of the State of Nevada. Each share of the Series C Preferred Stock will be convertible, without the payment of any additional consideration by the holder and at the option of the holder, into one fully paid and non-assessable share of our common stock at any time after (i) the Company achieves consolidated revenue equal to or greater than $15,000,000 in any 12 month period, ending on the last day of any quarterly period of our fiscal year; or (ii) a Negotiated Trigger Event, defined as an event upon which the Series C Preferred Stock will be convertible as may be agreed by our company and the holder in writing from time to time. Effective March 31, 2016, the Company issued a total of 3,000,000 shares of our Series C Preferred Stock to Steven P. Nickolas and Richard A. Wright ( 1,500,000 shares to each), our directors and executive officers, pursuant to their employment agreements dated effective March 1, 2016. Common stock The Company is authorized to issue 1,125,000,000 shares of $0.001 par value common stock. On May 31, 2013, the Company affected a 15 -for- 1 forward stock split of our $0.001 par value common stock. All shares and per share amounts have been retroactively restated to reflect such split. Prior to the acquisition of Alkaline Water Corp., the Company had 109,500,000 shares of common stock issued and outstanding. On May 31, 2013, the Company issued 43,000,000 shares in exchange for a 100% interest in Alkaline Water Corp. For accounting purposes, the acquisition of Alkaline Water Corp. by The Alkaline Water Company Inc. has been recorded as a reverse acquisition of a company and recapitalization of Alkaline Water Corp. based on the factors demonstrating that Alkaline Water Corp. represents the accounting acquirer. Consequently, after the closing of this agreement the Company adopted the business of Alkaline Water Corp.’s wholly-owned subsidiary, Alkaline 88, LLC. As part of the acquisition, the former management of the Company agreed to cancel 75,000,000 shares of common stock. On December 30, 2015, the Company affected a fifty for one reverse stock split of its authorized and issued and outstanding shares of common stock. As a result, the authorized common stock has decreased from 1,125,000,000 shares of common stock, with a par value of $0.001 per share, to 22,500,000 shares of common stock, with a par value of $0.001 per share. All shares and per share amounts have been retroactively restated to reflect such split. On January 21, 2016, stockholders of our company approved, by written consents, an amendment to the articles of incorporation of our company to increase the number of authorized shares of our common stock from 22,500,000 to 200,000,000. The Company received written consents representing 20,776,000 votes from the holders of shares of its common stock and our Series A Preferred Stock voting as a single class, representing approximately 61% of the voting power of its outstanding common stock and its outstanding Series A Preferred Stock voting as a single class as of the record date (January 12, 2016). On January 21, 2016, there were no written consents received by the Company representing a vote against, abstention or broker non-vote with respect to the proposal. Sale of restricted shares During the period from May 7, 2015 through December 31, 2015, the Company sold units of our securities at a price of $3.50 per unit. Each unit consists of one share of our common stock and one non-transferable common stock purchase warrant, with each common stock purchase warrant entitling the holder to acquire one additional share of our common stock at a price of $5.00 per share for a period of two years. The Company sold 223,200 units during the period ended December 31, 2015 consisting of 223,200 shares of common stock and 223,200 warrants for gross proceeds of $781,200. The evaluated these transaction using ASC 480-10 “Distinguishing liabilities from equity” and ASC 505 -10 “Equity”. The Company sold 223,200 units and issued 223,200 shares of common stock and issued 223,200 warrants. The warrants were valued using the Black-Scholes option pricing model with the following assumptions: Market value of stock on purchase date $ 3.75 to $ 7.10 Risk-free interest rate . 26% to 1.42% Dividend yield 0.00% Volatility factor 116% to 161% Weighted average expected life (years) 2 The proceeds were allocated as follows: Common stock $ 414,036 Warrant 367,164 Total proceeds $ 781,200 On March 4, 2016, the Company completed the offering and sale of an aggregate of 9,000,000 shares of our common stock and warrants to purchase an aggregate of 4,500,000 shares of our common stock, for aggregate gross proceeds of $2,970,000. Each share of common stock the Company sold in the offering was accompanied by one-half of a warrant to purchase one share of common stock at an exercise price of $0.50 per share for a period of two years from the date of issuance. Each share of common stock and accompanying one-half of one warrant was sold at a price of $0.33. These securities have been registered under the Securities Act of 1933 pursuant to our registration statement on Form S-1, as amended (No. 333-209124), which was declared effective by the Securities and Exchange Commission on February 11, 2016. Also on March 4, 2016, the Company used the proceeds of the Offering to repay loans in the aggregate principal amounts of $1,500,000 In connection with the repayment of loans in the aggregate principal amounts of $1,500,000 on March 4, 2016, 526,316 shares of our common stock issued to Neil Rogers and held in escrow and 1,500,000 shares of our common stock issued to Turnstone Capital Inc. and held in escrow were cancelled effective as of March 31, 2016. In June 2016, the Company issued an aggregate of 425,000 shares of our common stock to six investors in a private placement, at a purchase price of $1.00 per share for gross proceeds of $425,000. Common stock issued for services On April 1, 2016, the Company issued 5,000 common shares to consultant for services rendered that were valued at the market value on that date of $1.65 per share. On April 1, 201, the Company issued 12,500 common shares to consultant for services rendered that were valued at the market value on that date of $1.65 per share. On June 1, 2016, the Company issued 65,000 common shares to consultant for services rendered that were valued at the market value on that date of $1.75 per share. On August 18, 2016, the Company issued 50,000 common shares to consultant for services rendered that were valued at the market value on that date of $1.53 per share. On September 20, 2016, the Company agreed to issue 58,720 common shares to consultant for services rendered that were valued at the market value on that date of $1.70 per share . Warrant Exercised In July 2016, the Company issued 25,600 shares of our common stock in connection with a cashless exercise of a warrant and cancelled 32,000 warrants were cancelled. In August 2016 two warrant holders exercised 600,000 warrants to acquire 600,000 common shares at an exercise price of $0.50 per share. Options Exercised In August 2016 option holders exercised 85,000 options in a cashless exercise to acquire 56,705 common shares. |
OPTIONS AND WARRANTS
OPTIONS AND WARRANTS | 6 Months Ended |
Sep. 30, 2016 | |
OPTIONS AND WARRANTS [Text Block] | NOTE 8 – OPTIONS AND WARRANTS Stock option awards On January 29, 2016, the Company granted a total of 1,310,000 stock options to certain employees. The stock options are exercisable at the exercise price of $0.52 per share for a period of 7.6 years from the date of grant and vested upon the date of grant. On January 29, 2016, the Company granted a total of 3,000,000 stock options Steven A. Nickolas and Richard A. Wright ( 1,500,000 stock options to each). The stock options are exercisable at the exercise price of $0.52 per share for a period of 7.6 years from the date of grant and vested upon the date of grant. On March 4, 2016, the Company completed the offering and sale of an aggregate of 9,000,000 shares of our common stock the offering included warrants to purchase an aggregate of 4,500,000 shares of our common stock, at an exercise price of $0.50 per share for a period of two years from the date of issuance. Stock option activity summary covering options is presented in the table below: Weighted- Weighted- Average Average Remaining Number of Exercise Contractual Shares Price Term (years) Outstanding at March 31, 2015 343,400 $ 7.00 8.2 Granted 4,310,000 $ 0.52 7.8 Exercised - $ - - Expired/Forfeited - $ - - Outstanding at March 31, 2016 4,653,400 $ 0.92 7.7 Granted - $ - - Exercised (85,000 ) $ 0.52 6.4 Expired/Forfeited (8,800 ) $ 1.91 6.4 Outstanding at September 30, 2016 4,559,600 $ 0.92 5.7 Exercisable at September 30, 2016 4,559,600 $ 0.92 5.7 Warrants For the six months period ended warrants activity at September 30, 2016 is presented in the table below: Weighted- Weighted- Average Number Average Remaining of Warrant Exercise Contractual Shares Price Term (years) Outstanding at March 31, 2016 4,988,118 $ 0.96 .94 Granted - $ - - Exercised (795,202 ) $ 1.58 .13 Expired/Forfeited - $ 5.00 .05 Outstanding at September 30, 2016 4,192,916 $ 0.84 .67 Exercisable at September 30, 2016 4,192,916 $ 0.84 .67 In July 2016, the Company issued 25,600 shares of our common stock in connection with a cashless exercise of a warrant and cancelled 32,000 warrants were cancelled. On August 20, 2016 two warrant holder exercised 600,000 warrants to acquire 600,000 common shares at an exercise price of $0.50 per share |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended |
Sep. 30, 2016 | |
RELATED PARTY TRANSACTIONS [Text Block] | NOTE 9 – RELATED PARTY TRANSACTIONS On January 29, 2016, the Company granted a total of 3,000,000 stock options Steven A. Nickolas and Richard A. Wright ( 1,500,000 stock options to each). The stock options are exercisable at the exercise price of $0.52 per share for a period of 7.6 years from the date of grant and vested upon the date of grant. Effective March 31, 2016, the Company issued a total of 3,000,000 shares of our Series C Preferred Stock to Steven P. Nickolas and Richard A. Wright ( 1,500,000 shares to each), our directors and executive officers, pursuant to their On August 1, 2013, the Company entered into a 3 -year sub-lease agreement requiring a monthly payment of $2,085 for office space in Scottsdale, Arizona, with a basic monthly lease increase of 8% and 7% on each anniversary date. The Company or the landlord can cancel the lease with 30 days’ notice. The sub-lessor is an entity owned by the Company’s Chief Executive Officer and President. During the six month period ending September 30, 2016 the company made a net deposit on equipment of $104,619 to Water Engineering Solutions. During the six month period ending September 30, 2015 the company made a net deposit on equipment of $139,997 to Water Engineering Solutions. Water Engineering Solutions LLC is an entity that is controlled and majority owned by Steven P. Nickolas and Richard A. Wright for the production of our alkaline water. |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Sep. 30, 2016 | |
INCOME TAXES [Text Block] | NOTE 10 – INCOME TAXES The Company accounts for income taxes under ASC 740-10, which provides for an asset and liability approach of accounting for income taxes. Under this approach, deferred tax assets and liabilities are recognized based on antic The Company accounts for income taxes under ASC 740-10, which provides for an asset and liability approach of accounting for income taxes. Under this approach, deferred tax assets and liabilities are recognized based on anticipated future tax consequences, using currently enacted tax laws, attributed to temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts calculated for income tax purposes. For the years ended March 31, 2016 and 2015, the Company incurred net operating losses and, accordingly, no provision for income taxes has been recorded. In addition, no benefit for income taxes has been recorded due to the uncertainty of the realization of any deferred tax assets. Based on the available objective evidence, including the Company’s history of losses, management believes it is more likely than not that any net deferred tax assets will not be fully realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at September 30, 2016 and March 31, 2016, respectively. In accordance with ASC 740, the Company has evaluated its tax positions and determined that there are no uncertain tax positions. |
CAPITAL LEASE
CAPITAL LEASE | 6 Months Ended |
Sep. 30, 2016 | |
CAPITAL LEASE [Text Block] | NOTE 11 –CAPITAL LEASE On October 22, 2014, the Company entered into a master lease agreement with Veterans Capital Fund, LLC (the “Lessor”) for the secured lease line of credit financing in an amount not to exceed $600,000. The lease is expected to be secured by three new alkaline generating electrolysis system machines. Our wholly-owned subsidiary, Alkaline 88, LLC, and Water Engineering Solutions, LLC acted as co-lessees. Water Engineering Solutions, LLC is an entity that is controlled and owned by our President, Chief Executive Officer, director and major stockholder, Steven P. Nickolas, and our Vice-President, Secretary, Treasurer and director, Richard A. Wright. Pursuant to the master lease agreement, the Lessor agreed to lease to us the equipment described in any equipment schedule signed by us and approved by the Lessor. It is expected that any lease under the master lease agreement will be structured for a three year lease term with fixed monthly lease rental payments based on a monthly lease rate factor of 3.4667% of the Lessor’s capital cost. In connection with the entering into the master lease agreement, the Company also entered into a warrant agreement with the Lessor, pursuant to which the Company agreed to issue a warrant to purchase 72,000 shares of our common stock to the Lessor and/or its affiliates at an exercise price of $6.25 per share for a period of five years, 18,000 shares vested. On February 25, 2015, the Company amended the master lease agreement with Veterans Capital Fund, LLC for the increase in the secured lease line of credit financing to an amount not to exceed $800,000. The lease was secured by new alkaline generating electrolysis system machines by our wholly-owned subsidiary, Alkaline 88, LLC, and Water Engineering Solutions, LLC. Water Engineering Solutions, LLC is an entity that is controlled and owned by our President, Chief Executive Officer, director and major stockholder, Steven P. Nickolas, and our Vice-President, Secretary, Treasurer and director, Richard A. Wright. Pursuant to the master lease agreement, the Lessor agreed to lease to us the equipment described in any equipment schedule signed by us and approved by the Lessor. It is expected that any lease under the master lease agreement will be structured for a three year lease term with fixed monthly lease rental payments based on a monthly lease rate factor of 3.4667% of the Lessor’s capital cost. In connection with the entering into the master lease agreement, the Company entered into a warrant agreement with the Lessor, pursuant to which the Company agreed to cancel the previous issued warrant for 72,000 and issue a warrant to purchase 102,000 shares of our common stock to the Lessor and/or its affiliates at an exercise price of $5.00 per share for a period of five years. 18,000 shares vested on October 22, 2014, 13,316 shares on October 28, 2014, 13,606 shares on December 22, 2014, 6,945 shares on February 3, 2015 and 15,799 shares on March 5, 2015. The remaining 18,105 shares will vest on a pro rata basis according to any mounts the Lessor funds pursuant to any lease schedules under the master lease agreement, provided that if the Company draws on 90% or more of the total lease line under the master lease agreement, then all such shares will be deemed to be vested. The Company recorded the bifurcated value of $309,028 of the warrants issued as additional paid in capital, the value was determine using a Black-Scholes, a level 3 valuation measure. During the year ended March 31, 2015 the Company agreed to lease the specialized equipment used to make our alkaline water with a value of $735,781 under the above Master Lease agreement. The Company evaluated this lease under ASC 840-30 “Leases- Capital Leases” and concluded that these lease where a capital asset. |
NOTES PAYABLE
NOTES PAYABLE | 6 Months Ended |
Sep. 30, 2016 | |
NOTES PAYABLE [Text Block] | NOTE 12 – NOTES PAYABLE On August 19, 2015, the Company entered into a securities purchase agreement pursuant to which the Company issued a secured term note of our company in the aggregate principal amount of $240,000, together with 20,000 shares of our common stock, in consideration for $200,000. The secured term note bears requires monthly payments of $20,000 per month, along with a final payment due on August 20, 2016. On November 2, 2015 the Company issued a promissory note to a lender in the amount of $125,000. The note requires weekly payments of $2,451 plus interest. The final payment is due on November 19, 2016. Between June 10, 2016 and June 20, 2016, the Company entered into loan agreements with various lenders pursuant to which the Company issued convertible promissory notes of our company in the aggregate principal amount of $260,000, The convertible promissory note bears interest at the rate of 10% per annum and matures on June 10, 2017 and is convertible into common shares at $1.00 per share. The Company evaluated this transaction under ASC 470-20-30 “Debt – liability and equity component” On September 20, 2016 the Company agreed to a $1,000,000 loan facility which also included a conversion right of principal and/or accrued interest the convertible note bears interest at the rate of 10% per annum and matures on September 20, 2018 and is convertible into common shares at $1.00 per share. As of September 30, 2016 the Company had drawn $250,000 of the facility. The Company evaluated this transaction under ASC 470-20-30 “Debt – liability and equity component” |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 6 Months Ended |
Sep. 30, 2016 | |
SUBSEQUENT EVENTS [Text Block] | NOTE 13 – SUBSEQUENT EVENTS [TO COME] |
Summary of Significant Accoun19
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Sep. 30, 2016 | |
Basis of presentation [Policy Text Block] | Basis of presentation The consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring adjustments, unless otherwise indicated) necessary to present fairly the financial position and results of operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These financial statements should be read in conjunction with the financial statements of the Company for the year ended March 31, 2016 (including the notes thereto) set forth on Form 10-K. The Company uses as guidance the Accounting Standard Codification (ASC) as established by the Financial Accounting Standards Board (FASB). |
Principles of consolidation [Policy Text Block] | Principles of consolidation The consolidated financial statements include the accounts of The Alkaline Water Company Inc. (a Nevada Corporation), Alkaline Water Corp. (an Arizona Corporation) and Alkaline 88, LLC (an Arizona Limited Liability Company). All significant intercompany balances and transactions have been eliminated. The Alkaline Water Company Inc. (a Nevada Corporation), Alkaline Water Corp. (an Arizona Corporation) and Alkaline 88, LLC (an Arizona Limited Liability Company) will be collectively referred herein to as the “Company”. Any reference herein to “The Alkaline Water Company Inc.”, the “Company”, “we”, “our” or “us” is intended to mean The Alkaline Water Company Inc., including the subsidiaries indicated above, unless otherwise indicated. |
Reverse split [Policy Text Block] | Reverse split Effective December 30, 2015, the Company effected a fifty for one reverse stock split of its authorized and issued and outstanding shares of common stock. As a result, the authorized common stock has decreased from 1,125,000,000 shares of common stock, with a par value of $0.001 per share, to 22,500,000 shares of common stock, with a par value of $0.001 per share. All shares and per share amounts have been retroactively restated to reflect such split. On January 21, 2016, stockholders of our company approved, by written consents, an amendment to the articles of incorporation of our company to increase the number of authorized shares of our common stock from 22,500,000 to 200,000,000. The Company received written consents representing 20,776,000 votes from the holders of shares of its common stock and our Series A Preferred Stock voting as a single class, representing approximately 61% of the voting power of its outstanding common stock and its outstanding Series A Preferred Stock voting as a single class as of the record date (January 12, 2016). On January 21, 2016, there were no written consents received by the Company representing a vote against, abstention or broker non-vote with respect to the proposal. Our authorized preferred stock was not affected by the reverse stock split and continues to be 100,000,000 shares of preferred stock, with a par value of $0.001 per share. In addition, the number of issued and outstanding shares of Series A Preferred Stock continues to be 20,000,000. However, holders of Series A Preferred Stock had 0.2 vote per share of Series A Preferred Stock, instead of 10 votes per share of Series A Preferred Stock, as a result of the reverse stock split. On January 22, 2016, the Company amended the certificate of designation for our Series A Preferred Stock by filing an amendment to certificate of designation with the Secretary of State of the State of Nevada. The Company amended the certificate of designation for our Series A Preferred Stock by deleting Section 2.2 of the certificate of designation, which proportionately increases or decreases the number of votes per share of Series A Preferred Stock in the event of any dividend or other distribution on our common stock payable in its common stock or a subdivision or consolidation of the outstanding shares of its common stock. Accordingly, holders of Series A Preferred Stock will have 10 votes per share of Series A Preferred Stock, instead of 0.2 votes per share of Series A Preferred Stock. |
Use of estimates [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ significantly from those estimates. |
Cash and cash equivalents [Policy Text Block] | Cash and cash equivalents The Company considers all highly liquid instruments with an original maturity of three months or less to be considered cash equivalents. The carrying value of these investments approximates fair value. The Company had $189,712 and $1,192,119 in cash and cash equivalents at September 30, 2016 and March 31, 2016, respectively. |
Accounts receivable and allowance for doubtful accounts [Policy Text Block] | Accounts receivable and allowance for doubtful accounts The Company generally does not require collateral, and the majority of its trade receivables are unsecured. The carrying amount for accounts receivable approximates fair value. Accounts receivable are periodically evaluated for collectability based on past credit history with clients. Provisions for losses on accounts receivable are determined on the basis of loss experience, known and inherent risk in the account balance and current economic conditions. |
Inventory [Policy Text Block] | Inventory Inventory represents raw and blended chemicals and other items valued at the lower of cost or market with cost determined using the weight average method which approximates first-in first-out method, and with market defined as the lower of replacement cost or realizable value. As of September 30, 2016 and March, 31 2016, inventory consisted of the following: September 30, March 31, 2016 2016 Raw materials $ 328,338 $ 300,575 Finished goods 219,271 134,133 Total inventory $ 547,609 $ 434,708 |
Property and equipment [Policy Text Block] | Property and equipment The Company records all property and equipment at cost less accumulated depreciation. Improvements are capitalized while repairs and maintenance costs are expensed as incurred. Depreciation is calculated using the straight-line method over the estimated useful life of the assets or the lease term, whichever is shorter. Depreciation periods are as follows for the relevant fixed assets: Equipment 5 years Equipment under capital lease 3 years or term of the lease |
Stock-based Compensation [Policy Text Block] | Stock-based Compensation The Company accounts for stock-based compensation to employees in accordance with Accounting Standards Codification (“ASC”) 718. Stock-based compensation to employees is measured at the grant date, based on the fair value of the award, and is recognized as expense over the requisite employee service period. The Company accounts for stock-based compensation to other than employees in accordance with ASC 505-50. Equity instruments issued to other than employees are valued at the earlier of a commitment date or upon completion of the services, based on the fair value of the equity instruments and is recognized as expense over the service period. The Company estimates the fair value of stock-based payments using the Black-Scholes option-pricing model for common stock options and warrants and the closing price of the Company’s common stock for common share issuances. |
Revenue recognition [Policy Text Block] | Revenue recognition The Company recognizes revenue when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the amount to be paid by the customer is fixed or determinable; and (4) the collection of such amount is probable. The Company records revenue when it is realizable and earned upon shipment of the finished products. The Company does not accept returns due to the nature of the product. However, the Company will provide credit to our customers for damaged goods. |
Fair value measurements [Policy Text Block] | Fair value measurements The valuation of our embedded derivatives and warrant derivatives are determined primarily by the multinomial distribution (Lattice) model. An embedded derivative is a derivative instrument that is embedded within another contract, which under the convertible note (the host contract) includes the right to convert the note by the holder, certain default redemption right premiums and a change of control premium (payable in cash if a fundamental change occurs). In accordance with ASC 815 “ Accounting for Derivative Instruments and Hedging Activities” Level 1 unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access as of the measurement date. Level 2 inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Level 3 unobservable inputs for the asset or liability only used when there is little, if any, market activity for the asset or liability at the measurement date. This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. To determine the fair value of our embedded derivatives, management evaluates assumptions regarding the probability of certain future events. Other factors used to determine fair value include our period end stock price, historical stock volatility, risk free interest rate and derivative term. The fair value recorded for the derivative liability varies from period to period. This variability may result in the actual derivative liability for a period either above or below the estimates recorded on our consolidated financial statements, resulting in significant fluctuations in other income (expense) because of the corresponding non-cash gain or loss recorded. |
Income taxes [Policy Text Block] | Income taxes In accordance with ASC 740 “ Accounting for Income Taxes |
Basic and diluted loss per share [Policy Text Block] | Basic and diluted loss per share Basic and diluted earnings or loss per share (“EPS”) amounts in the consolidated financial statements are computed in accordance ASC 260 – 10 “ Earnings per Share |
Reclassification [Policy Text Block] | Reclassification Certain accounts in the prior period were reclassified to conform to the current period financial statements presentation. |
Newly issued accounting pronouncements [Policy Text Block] | Newly issued accounting pronouncements During the period ended September 30, 2016, there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s consolidated financial statements |
SUMMARY OF SIGNIFICANT ACCOUN20
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Sep. 30, 2016 | |
Schedule of Inventory, Current [Table Text Block] | September 30, March 31, 2016 2016 Raw materials $ 328,338 $ 300,575 Finished goods 219,271 134,133 Total inventory $ 547,609 $ 434,708 |
Straight-line Method of Depreciation [Table Text Block] | Equipment 5 years Equipment under capital lease 3 years or term of the lease |
PROPERTY AND EQUIPMENT (Tables)
PROPERTY AND EQUIPMENT (Tables) | 6 Months Ended |
Sep. 30, 2016 | |
Schedule of Property, Plant and Equipment [Table Text Block] | September 30, 2016 March 31, 2016 Machinery and Equipment $ 1,046,114 $ 970,728 Machinery under Capital Lease 735,781 735,781 Office Equipment 57,941 53,631 Leasehold Improvements 3,979 3,979 Less: Accumulated Depreciation (717,982 ) (537,585 ) Fixed Assets, net $ 1,125,834 $ 1,226,534 |
DERIVATIVE LIABILITY (Tables)
DERIVATIVE LIABILITY (Tables) | 6 Months Ended |
Sep. 30, 2016 | |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | Six Months Ended September 30, 2016 Derivative liability at March 31, 2016 $ 11,143 Change in derivative liability – mark to market (6,357 ) Derivative liability at September 30, 2016 $ 4,786 |
STOCKHOLDERS EQUITY (Tables)
STOCKHOLDERS EQUITY (Tables) | 6 Months Ended |
Sep. 30, 2016 | |
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions [Table Text Block] | Market value of stock on purchase date $ 3.75 to $ 7.10 Risk-free interest rate . 26% to 1.42% Dividend yield 0.00% Volatility factor 116% to 161% Weighted average expected life (years) 2 |
Schedules of Proceeds from Restricted Shares [Table Text Block] | Common stock $ 414,036 Warrant 367,164 Total proceeds $ 781,200 |
OPTIONS AND WARRANTS (Tables)
OPTIONS AND WARRANTS (Tables) | 6 Months Ended |
Sep. 30, 2016 | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted- Weighted- Average Average Remaining Number of Exercise Contractual Shares Price Term (years) Outstanding at March 31, 2015 343,400 $ 7.00 8.2 Granted 4,310,000 $ 0.52 7.8 Exercised - $ - - Expired/Forfeited - $ - - Outstanding at March 31, 2016 4,653,400 $ 0.92 7.7 Granted - $ - - Exercised (85,000 ) $ 0.52 6.4 Expired/Forfeited (8,800 ) $ 1.91 6.4 Outstanding at September 30, 2016 4,559,600 $ 0.92 5.7 Exercisable at September 30, 2016 4,559,600 $ 0.92 5.7 |
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity [Table Text Block] | Weighted- Weighted- Average Number Average Remaining of Warrant Exercise Contractual Shares Price Term (years) Outstanding at March 31, 2016 4,988,118 $ 0.96 .94 Granted - $ - - Exercised (795,202 ) $ 1.58 .13 Expired/Forfeited - $ 5.00 .05 Outstanding at September 30, 2016 4,192,916 $ 0.84 .67 Exercisable at September 30, 2016 4,192,916 $ 0.84 .67 |
SUMMARY OF SIGNIFICANT ACCOUN25
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Summary Of Significant Accounting Policies 1 | shares | 1,125,000,000 |
Summary Of Significant Accounting Policies 2 | $ / shares | $ 0.001 |
Summary Of Significant Accounting Policies 3 | shares | 22,500,000 |
Summary Of Significant Accounting Policies 4 | $ / shares | $ 0.001 |
Summary Of Significant Accounting Policies 5 | 22,500,000 |
Summary Of Significant Accounting Policies 6 | 200,000,000 |
Summary Of Significant Accounting Policies 7 | 20,776,000 |
Summary Of Significant Accounting Policies 8 | 61.00% |
Summary Of Significant Accounting Policies 9 | shares | 100,000,000 |
Summary Of Significant Accounting Policies 10 | $ / shares | $ 0.001 |
Summary Of Significant Accounting Policies 11 | 20,000,000 |
Summary Of Significant Accounting Policies 12 | 0.2 |
Summary Of Significant Accounting Policies 13 | 10 |
Summary Of Significant Accounting Policies 14 | 10 |
Summary Of Significant Accounting Policies 15 | 0.2 |
Summary Of Significant Accounting Policies 16 | $ | $ 189,712 |
Summary Of Significant Accounting Policies 17 | $ | $ 1,192,119 |
GOING CONCERN (Narrative) (Deta
GOING CONCERN (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Going Concern 1 | $ 22,223,241 |
PROPERTY AND EQUIPMENT (Narrati
PROPERTY AND EQUIPMENT (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Property And Equipment 1 | $ 180,397 |
Property And Equipment 2 | $ 142,129 |
EQUIPMENT DEPOSITS - RELATED 28
EQUIPMENT DEPOSITS - RELATED PARTY (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Equipment Deposits - Related Party 1 | $ 104,619 |
Equipment Deposits - Related Party 2 | $ 139,997 |
REVOLVING FINANCING (Narrative)
REVOLVING FINANCING (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)mod | |
Revolving Financing 1 | 8.00% |
Revolving Financing 2 | 3.25% |
Revolving Financing 3 | 360 |
Revolving Financing 4 | 0.50% |
Revolving Financing 5 | 0.25% |
Revolving Financing 6 | 1.00% |
Revolving Financing 7 | $ 500,000 |
Revolving Financing 8 | 900,000 |
Revolving Financing 9 | 100,000 |
Revolving Financing 10 | $ 5,000,000 |
Revolving Financing 11 | mo | 24 |
Revolving Financing 12 | mo | 12 |
Revolving Financing 13 | d | 30 |
Revolving Financing 14 | 2.00% |
Revolving Financing 15 | $ 563,191 |
DERIVATIVE LIABILITY (Narrative
DERIVATIVE LIABILITY (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Derivative Liability 1 | shares | 346,667 |
Derivative Liability 2 | shares | 173,333 |
Derivative Liability 3 | $ 2,599,999 |
Derivative Liability 4 | $ / shares | $ 7.50 |
Derivative Liability 5 | $ 7.50 |
Derivative Liability 6 | $ / shares | $ 5 |
Derivative Liability 7 | $ 6 |
Derivative Liability 8 | 25 |
Derivative Liability 9 | $ 6.25 |
Derivative Liability 10 | shares | 6,667 |
Derivative Liability 11 | $ 1,656 |
Derivative Liability 12 | 5.50% |
Derivative Liability 13 | 19,067 |
Derivative Liability 14 | $ / shares | $ 9.38 |
Derivative Liability 15 | shares | 21,392 |
Derivative Liability 16 | $ 3,130 |
Derivative Liability 17 | 11,143 |
Derivative Liability 18 | $ 6,357 |
STOCKHOLDERS EQUITY (Narrative)
STOCKHOLDERS EQUITY (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)mo$ / sharesshares | |
Stockholders Equity 1 | 20,000,000 |
Stockholders Equity 2 | 10,000,000 |
Stockholders Equity 3 | $ / shares | $ 0.001 |
Stockholders Equity 4 | $ | $ 20,000 |
Stockholders Equity 5 | 100,000,000 |
Stockholders Equity 6 | $ / shares | $ 0.001 |
Stockholders Equity 7 | 20,000,000 |
Stockholders Equity 8 | 0.2 |
Stockholders Equity 9 | 10 |
Stockholders Equity 10 | 2.2 |
Stockholders Equity 11 | 10 |
Stockholders Equity 12 | 0.2 |
Stockholders Equity 13 | 3,000,000 |
Stockholders Equity 14 | $ | $ 15,000,000 |
Stockholders Equity 15 | mo | 12 |
Stockholders Equity 16 | 3,000,000 |
Stockholders Equity 17 | 1,500,000 |
Stockholders Equity 18 | 1,125,000,000 |
Stockholders Equity 19 | $ | $ 0.001 |
Stockholders Equity 20 | 15 |
Stockholders Equity 21 | 1 |
Stockholders Equity 22 | $ | $ 0.001 |
Stockholders Equity 23 | 109,500,000 |
Stockholders Equity 24 | 43,000,000 |
Stockholders Equity 25 | 100.00% |
Stockholders Equity 26 | 75,000,000 |
Stockholders Equity 27 | 1,125,000,000 |
Stockholders Equity 28 | $ / shares | $ 0.001 |
Stockholders Equity 29 | 22,500,000 |
Stockholders Equity 30 | $ / shares | $ 0.001 |
Stockholders Equity 31 | 22,500,000 |
Stockholders Equity 32 | 200,000,000 |
Stockholders Equity 33 | 20,776,000 |
Stockholders Equity 34 | 61.00% |
Stockholders Equity 35 | $ / shares | $ 3.50 |
Stockholders Equity 36 | $ / shares | $ 5 |
Stockholders Equity 37 | 223,200 |
Stockholders Equity 38 | 223,200 |
Stockholders Equity 39 | 223,200 |
Stockholders Equity 40 | $ | $ 781,200 |
Stockholders Equity 41 | 223,200 |
Stockholders Equity 42 | 223,200 |
Stockholders Equity 43 | 223,200 |
Stockholders Equity 44 | 9,000,000 |
Stockholders Equity 45 | 4,500,000 |
Stockholders Equity 46 | $ | $ 2,970,000 |
Stockholders Equity 47 | $ / shares | $ 0.50 |
Stockholders Equity 48 | $ | $ 0.33 |
Stockholders Equity 49 | $ | 1,500,000 |
Stockholders Equity 50 | $ | $ 1,500,000 |
Stockholders Equity 51 | 526,316 |
Stockholders Equity 52 | 1,500,000 |
Stockholders Equity 53 | 425,000 |
Stockholders Equity 54 | $ / shares | $ 1 |
Stockholders Equity 55 | $ | $ 425,000 |
Stockholders Equity 56 | 5,000 |
Stockholders Equity 57 | $ / shares | $ 1.65 |
Stockholders Equity 58 | 201 |
Stockholders Equity 59 | 12,500 |
Stockholders Equity 60 | $ / shares | $ 1.65 |
Stockholders Equity 61 | 65,000 |
Stockholders Equity 62 | $ / shares | $ 1.75 |
Stockholders Equity 63 | 50,000 |
Stockholders Equity 64 | $ / shares | $ 1.53 |
Stockholders Equity 65 | 58,720 |
Stockholders Equity 66 | $ / shares | $ 1.70 |
Stockholders Equity 67 | 25,600 |
Stockholders Equity 68 | 32,000 |
Stockholders Equity 69 | 600,000 |
Stockholders Equity 70 | 600,000 |
Stockholders Equity 71 | $ / shares | $ 0.50 |
Stockholders Equity 72 | 85,000 |
Stockholders Equity 73 | 56,705 |
OPTIONS AND WARRANTS (Narrative
OPTIONS AND WARRANTS (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016yr$ / sharesshares | |
Options And Warrants 1 | 1,310,000 |
Options And Warrants 2 | $ / shares | $ 0.52 |
Options And Warrants 3 | yr | 7.6 |
Options And Warrants 4 | 3,000,000 |
Options And Warrants 5 | 1,500,000 |
Options And Warrants 6 | $ / shares | $ 0.52 |
Options And Warrants 7 | yr | 7.6 |
Options And Warrants 8 | 9,000,000 |
Options And Warrants 9 | 4,500,000 |
Options And Warrants 10 | $ / shares | $ 0.50 |
Options And Warrants 11 | 25,600 |
Options And Warrants 12 | 32,000 |
Options And Warrants 13 | 600,000 |
Options And Warrants 14 | 600,000 |
Options And Warrants 15 | $ / shares | $ 0.50 |
RELATED PARTY TRANSACTIONS (Nar
RELATED PARTY TRANSACTIONS (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)yrd$ / sharesshares | |
Related Party Transactions 1 | 3,000,000 |
Related Party Transactions 2 | 1,500,000 |
Related Party Transactions 3 | $ / shares | $ 0.52 |
Related Party Transactions 4 | yr | 7.6 |
Related Party Transactions 5 | 3,000,000 |
Related Party Transactions 6 | 1,500,000 |
Related Party Transactions 7 | 3 |
Related Party Transactions 8 | $ | $ 2,085 |
Related Party Transactions 9 | 8.00% |
Related Party Transactions 10 | 7.00% |
Related Party Transactions 11 | d | 30 |
Related Party Transactions 12 | $ | $ 104,619 |
Related Party Transactions 13 | $ | $ 139,997 |
CAPITAL LEASE (Narrative) (Deta
CAPITAL LEASE (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)$ / sharesshares | |
Capital Lease 1 | $ | $ 600,000 |
Capital Lease 2 | 3.4667% |
Capital Lease 3 | 72,000 |
Capital Lease 4 | $ / shares | $ 6.25 |
Capital Lease 5 | 18,000 |
Capital Lease 6 | $ | $ 800,000 |
Capital Lease 7 | 3.4667% |
Capital Lease 8 | 72,000 |
Capital Lease 9 | 102,000 |
Capital Lease 10 | $ / shares | $ 5 |
Capital Lease 11 | 18,000 |
Capital Lease 12 | 13,316 |
Capital Lease 13 | 13,606 |
Capital Lease 14 | 6,945 |
Capital Lease 15 | 15,799 |
Capital Lease 16 | 18,105 |
Capital Lease 17 | 90.00% |
Capital Lease 18 | $ | $ 309,028 |
Capital Lease 19 | $ | $ 735,781 |
NOTES PAYABLE (Narrative) (Deta
NOTES PAYABLE (Narrative) (Details) | 6 Months Ended |
Sep. 30, 2016USD ($)$ / shares$ / moshares | |
Notes Payable 1 | $ 240,000 |
Notes Payable 2 | shares | 20,000 |
Notes Payable 3 | $ 200,000 |
Notes Payable 4 | $ / mo | 20,000 |
Notes Payable 5 | $ 125,000 |
Notes Payable 6 | 2,451 |
Notes Payable 7 | $ 260,000 |
Notes Payable 8 | 10.00% |
Notes Payable 9 | $ / shares | $ 1 |
Notes Payable 10 | $ 240,100 |
Notes Payable 11 | 1 |
Notes Payable 12 | $ 160,067 |
Notes Payable 13 | $ 1,000,000 |
Notes Payable 14 | 10.00% |
Notes Payable 15 | $ / shares | $ 1 |
Notes Payable 16 | $ 250,000 |
Notes Payable 17 | $ 100,000 |
Notes Payable 18 | 2 |
Notes Payable 19 | $ 95,833 |
Schedule of Inventory, Current
Schedule of Inventory, Current (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Summary Of Significant Accounting Policies Schedule Of Inventory, Current 1 | $ 328,338 |
Summary Of Significant Accounting Policies Schedule Of Inventory, Current 2 | 300,575 |
Summary Of Significant Accounting Policies Schedule Of Inventory, Current 3 | 219,271 |
Summary Of Significant Accounting Policies Schedule Of Inventory, Current 4 | 134,133 |
Summary Of Significant Accounting Policies Schedule Of Inventory, Current 5 | 547,609 |
Summary Of Significant Accounting Policies Schedule Of Inventory, Current 6 | $ 434,708 |
Straight-line Method of Depreci
Straight-line Method of Depreciation (Details) | 6 Months Ended |
Sep. 30, 2016yr | |
Summary Of Significant Accounting Policies Straight-line Method Of Depreciation 1 | 5 |
Summary Of Significant Accounting Policies Straight-line Method Of Depreciation 2 | 3 |
Schedule of Property, Plant and
Schedule of Property, Plant and Equipment (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Property And Equipment Schedule Of Property, Plant And Equipment 1 | $ 1,046,114 |
Property And Equipment Schedule Of Property, Plant And Equipment 2 | 970,728 |
Property And Equipment Schedule Of Property, Plant And Equipment 3 | 735,781 |
Property And Equipment Schedule Of Property, Plant And Equipment 4 | 735,781 |
Property And Equipment Schedule Of Property, Plant And Equipment 5 | 57,941 |
Property And Equipment Schedule Of Property, Plant And Equipment 6 | 53,631 |
Property And Equipment Schedule Of Property, Plant And Equipment 7 | 3,979 |
Property And Equipment Schedule Of Property, Plant And Equipment 8 | 3,979 |
Property And Equipment Schedule Of Property, Plant And Equipment 9 | (717,982) |
Property And Equipment Schedule Of Property, Plant And Equipment 10 | (537,585) |
Property And Equipment Schedule Of Property, Plant And Equipment 11 | 1,125,834 |
Property And Equipment Schedule Of Property, Plant And Equipment 12 | $ 1,226,534 |
Schedule of Derivative Liabilit
Schedule of Derivative Liabilities at Fair Value (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 1 | $ 11,143 |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 2 | (6,357) |
Derivative Liability Schedule Of Derivative Liabilities At Fair Value 3 | $ 4,786 |
Schedule of Stockholders' Equit
Schedule of Stockholders' Equity Note, Warrants or Rights, Valuation Assumptions (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 1 | 3.75 |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 2 | 7.10 |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 3 | 26.00% |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 4 | 1.42% |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 5 | 0.00% |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 6 | 116.00% |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 7 | 161.00% |
Stockholders Equity Schedule Of Stockholders' Equity Note, Warrants Or Rights, Valuation Assumptions 8 | $ 2 |
Schedules of Proceeds from Rest
Schedules of Proceeds from Restricted Shares (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Stockholders Equity Schedules Of Proceeds From Restricted Shares 1 | $ 414,036 |
Stockholders Equity Schedules Of Proceeds From Restricted Shares 2 | 367,164 |
Stockholders Equity Schedules Of Proceeds From Restricted Shares 3 | $ 781,200 |
Schedule of Share-based Compens
Schedule of Share-based Compensation, Stock Options, Activity (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 1 | $ 343,400 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 2 | 7 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 3 | 8.2 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 4 | $ 4,310,000 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 5 | 0.52 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 6 | 7.8 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 7 | $ 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 8 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 9 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 10 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 11 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 12 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 13 | $ 4,653,400 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 14 | 0.92 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 15 | 7.7 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 16 | $ 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 17 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 18 | 0 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 19 | $ (85,000) |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 20 | 0.52 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 21 | 6.4 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 22 | $ (8,800) |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 23 | 1.91 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 24 | 6.4 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 25 | $ 4,559,600 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 26 | 0.92 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 27 | 5.7 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 28 | $ 4,559,600 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 29 | 0.92 |
Options And Warrants Schedule Of Share-based Compensation, Stock Options, Activity 30 | 5.7 |
Schedule of Stockholders' Equ43
Schedule of Stockholders' Equity Note, Warrants or Rights, Activity (Details) | 6 Months Ended |
Sep. 30, 2016USD ($) | |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 1 | $ 4,988,118 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 2 | 0.96 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 3 | 0.94 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 4 | $ 0 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 5 | 0 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 6 | 0 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 7 | $ (795,202) |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 8 | 1.58 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 9 | 0.13 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 10 | $ 0 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 11 | 5 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 12 | 0.05 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 13 | $ 4,192,916 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 14 | 0.84 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 15 | 0.67 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 16 | $ 4,192,916 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 17 | 0.84 |
Options And Warrants Schedule Of Stockholders' Equity Note, Warrants Or Rights, Activity 18 | 0.67 |