• Filing Date: 2018-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
Note 6 - Options Outstanding
9 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]
NOTE
 
6
 - OPTIONS OUTSTANDING
 
 
On
September 2, 2015,
ADM granted
3,000,000
stock options to employees at an exercise price of
$0.20
per option and with a term of
three
years. The options were valued at
$598,699
using the Black Scholes option pricing model with the following assumptions: risk free interest rate of
2.03%,
volatility of
353%,
estimated useful life of
3
years and dividend rate of
0%.
 
 
The following table summarizes information on all common share purchase options issued by us for the periods ended
 
December 31, 2017
and
March 31, 2017.
 
 
   
December 31, 2017
   
March 31, 2017
 
   
# of Shares
   
Weighted Average Exercise Price
   
# of Shares
   
Weighted Average Exercise Price
 
                                 
Outstanding, beginning of year period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Issued
   
-
    $
-
     
-
    $
-
 
                                 
Exercised
   
-
    $
-
     
-
    $
-
 
                                 
Expired
   
-
    $
-
     
-
    $
-
 
                                 
Outstanding, end of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20
 
                                 
Exercisable, end of period
   
3,000,000
    $
0.20
     
3,000,000
    $
0.20