Stock-Based Compensation, Restricted Stock and Stock Options (Tables)
|
6 Months Ended |
Sep. 30, 2020 |
|---|
| Share-based Payment Arrangement [Abstract] |
|
| Schedule of stock based compensation expenses |
| |
|
Three months ended
September 30, |
|
|
Six months ended
September 30, |
|
| |
|
2020 |
|
|
2019 |
|
|
2020 |
|
|
2019 |
|
| Research and development expenses |
|
$ |
141,031 |
|
|
$ |
722,606 |
|
|
$ |
1,293,372 |
|
|
$ |
981,515 |
|
| Selling, general and administrative expenses |
|
|
829,400 |
|
|
|
1,046,816 |
|
|
|
7,756,283 |
|
|
|
1,884,850 |
|
| Total stock-based compensation |
|
$ |
970,432 |
|
|
$ |
1,769,422 |
|
|
$ |
9,049,655 |
|
|
$ |
2,866,365 |
|
|
| Schedule of restricted stock awards |
| |
|
|
|
|
|
|
| |
|
Number of Shares |
|
|
Weighted Average
Grant-Date
Fair Value |
|
| Unvested at March 31, 2020 |
|
|
3,750,009 |
|
|
$ |
0.82 |
|
| Granted |
|
|
4,000,000 |
|
|
$ |
1.38 |
|
| Vested |
|
|
(5,499,994 |
) |
|
$ |
0.82 |
|
| Unvested at September 30, 2020 (unaudited) |
|
|
2,250,015 |
|
|
$ |
0.77 |
|
|
| Schedule of of stock options granted |
| |
|
September 30,
2020 |
|
| |
|
(Unaudited) |
|
| Dividend yield |
|
|
0 |
% |
| Expected price volatility |
|
|
50.0 |
% |
| Risk free interest rate |
|
|
0.16% - 0.44 |
% |
| Expected term |
|
|
5-6 years |
|
|
| Schedule of stock options |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Shares Underlying
Options |
|
|
Weighted Average
Exercise Price |
|
|
Weighted Average
Remaining
Contractual
Term (Years) |
|
|
Aggregate Intrinsic
Value |
|
| Outstanding at March 31, 2020 |
|
|
|
5,813,500 |
|
|
$ |
0.18 |
|
|
|
8.2 |
|
|
$ |
4,243,610 |
|
| Granted |
|
|
|
10,670,599 |
|
|
$ |
0.81 |
|
|
|
9.9 |
|
|
|
- |
|
| Outstanding at September 30, 2020 (unaudited) |
|
|
|
16,484,099 |
|
|
$ |
0.58 |
|
|
|
8.6 |
|
|
$ |
9,975,971 |
|
| Exercisable at September 30, 2020 (unaudited) |
|
|
|
14,250,167 |
|
|
$ |
0.52 |
|
|
|
8.4 |
|
|
$ |
9,551,523 |
|
|
| Schedule of warrant activity |
| |
|
Shares
Underlying Warrants
|
|
|
Weighted
Average Exercise
Price
|
|
|
Weighted
Average Remaining Contractual Term
(Years)
|
|
|
Aggregate
Intrinsic Value
|
|
| Outstanding at March 31, 2020 |
|
|
346,338 |
|
|
$ |
0.42 |
|
|
|
4.1 |
|
|
$ |
114,292 |
|
| Issued |
|
|
974,000 |
|
|
$ |
1.13 |
|
|
|
4.8 |
|
|
|
|
|
| Exercised |
|
|
(350,000 |
) |
|
$ |
1.00 |
|
|
|
- |
|
|
|
|
|
| Outstanding at September 30, 2020 (Unaudited) |
|
|
970,338 |
|
|
$ |
0.88 |
|
|
|
4.4 |
|
|
$ |
304,120 |
|
| Exercisable at December 31, 2019 (Unaudited) |
|
|
970,338 |
|
|
$ |
0.88 |
|
|
|
4.4 |
|
|
$ |
304,120 |
|
|
| Schedule of estimated the fair value of the warrants |
| |
|
Three months
ended |
|
|
Six months
ended |
|
| |
|
September 30,
2020 |
|
|
September 30,
2020 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Stock price |
|
$ |
1.00 |
|
|
$ |
0.91
- $1.00 |
|
| Expected price volatility |
|
|
50.0 |
% |
|
|
50.0 |
% |
| Risk free interest rate |
|
|
2.3 |
% |
|
|
2.3% - 2.4 |
% |
| Expected term |
|
|
5 years |
|
|
|
5 years |
|
|