|9 Months Ended|
Dec. 31, 2018
|Disclosure of Compensation Related Costs, Share-based Payments [Abstract]|
The following table summarizes the continuity of stock options issued and outstanding:
Additional information regarding stock options outstanding as at December 31, 2018 is as follows:
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.
During the nine months ended December 31, 2018, the Company granted 2,965,000 (2017 – 175,000) stock options to officers, directors, employees, and consultants to the Company. The stock options are exercisable at $1.70 per share for a three-year term. The stock options were recorded at their estimated fair value of $4,744,382 (2017 - $78,165) or $1.60 per option at the time of grant.
The fair values were estimated using the Black-Scholes option pricing model assuming no expected dividends or forfeitures and the following weighted average assumptions:
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