NOTE 5 -Stockholder's Equity

6 Months Ended

Sep. 30, 2015

NOTE 5 –Stockholder’s Equity

Series A Convertible Preferred Stock

The Company is authorized to issue 3,000,000 Shares of our Series “A” Convertible Preferred Stock, $0.001 par value per share (the “Preferred Stock”). The Stated Value of the Preferred Stock is $5.00 per Share (the “Stated Value”). Each Share of Preferred Stock bears an eight percent (8%) cumulative dividend (the “Dividend”), due and payable quarterly as of July 31, October 31, January 31 and April 30. The Company records cumulative dividends whether or not declared. Each share may be converted by the holder thereof, at any time, into one share of the Company’s common stock, par value $0.001 per share (the “Common Stock”) and one warrant exercisable at $6.50 per share into one share of the Company’s common stock (the “Warrant”). The Company may force conversion to common stock and one warrant if the Company’s common stock trades over $7.00 for forty-five consecutive trading days.

During the quarter ended September 30, 2015 and 2014, the Company had deemed dividends of $18,200. No dividends were declared or paid during the quarter ended September 30, 2015 and accumulated dividends in arrears as of September 30, 2015 were $85,066.

Common stock

The authorized common stock of the Company consists of 75,000,000 shares with par value of $0.001.

As of September 30, 2015, the Company has committed to issue a total of 117,345 shares of common stock. All issuable shares are unregistered shares.

During the six months ended September 30, 2015, in accordance with the terms of the agreement with Mr. Richardson, the Company committed to issue 60,135 shares of common stock to Mr. Richardson valued at $120,000 for services.

During the six months ended September 30, 2014, the Company issued 42,172 shares of common stock valued at $120,000 to Fidare for services (see Note 7).

During the quarter ended September 30, 2014, the Company issued Mr. Richardson, 42,172 shares of common stock valued at $120,000 for services.

Net loss per common share

Net loss per share is computed using the basic and diluted weighted average number of common shares outstanding during the period. The weighted-average number of common shares outstanding during each period is used to compute basic loss per share. Potential dilutive securities (stock options and warrants) have not been considered when their effect would be anti dilutive. The potentially dilutive shares, including both stock options and warrants would have been 608,000 shares for the three and six months ended September 30, 2015.

Options

On April 28, 2014, the Company granted 308,000 options to purchase the Company’s common stock with a three year term and an exercise price of $1 for 108,000 options and $3 for 200,000 options, pursuant to the terms of the board of director’s agreement. The options were immediately vested and had a fair value of $1,179,395 as the grant date. The options were outstanding for the quarter ended September 30, 2015 and fiscal year end March 31, 2015.

	September 30, 2015
Expected volatility	190		%
Expected dividends		0
Expected term (in years)		3.0
Risk-free rate		1.44	%

A summary of warrant activity for the period ended September 30, 2015 are presented below:

	Number of Warrants		Weighted Average Exercise Price
Balance at March 31, 2015	300,000	$	4.60
Granted, exercised, expired	-	$	-
Balance at September 30, 2015	300,000	$	4.60
Warrants exercisable at ended September 30, 2015	300,000	$	4.60

No warrants expense was recognized during the quarter ended September 30, 2015 and 2014.

Rangeford Resources, Inc. 10-Q