|6 Months Ended|
Sep. 30, 2018
|Stock Options [Abstract]|
The following table summarizes the continuity of stock options issued and outstanding:
Additional information regarding stock options outstanding as at September 30, 2018 is as follows:
On July 1, 2018, the Company granted 100,000 stock options to a consultant to the Company. The stock options are exercisable at $0.01 per share for a period of two years. The options were recorded at their fair value of $174,249 or $1.74 per option at the time of grant.
On September 26, 2017, the Company granted 175,000 stock options to a company controlled by a director of the Company. The stock options are exercisable at $0.01 per share for a two year term. These stock options were issued in exchange for management services previously accrued at $175,000 and have been recorded at their fair value of $78,165 as estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:
The fairs values were estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following assumptions:
On July 17, 2018, the Company extended the life of 312,500 stock options previously granted to the Company’s President and Chief Executive Officer. The expiry date of the stock options was extended from July 18, 2018 to April 30, 2019. The extension of the stock options did not result in any incremental compensation cost. The fair value was estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures.
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef