10. Stock Options

9 Months Ended

Dec. 31, 2017

10. Stock Options

The Company has adopted a Stock Option Plan (“Stock Option Plan”) which permits the Company to issue stock options for up to 3,000,000 common shares of the Company to directors, officers, employees and consultants of the Company with a maximum term of 5 years, exercise prices equal to the minimum fair market value per common share on the date of grant, and a vesting schedule determined by the Board of Directors at the time of granting the options.

The following table summarizes the continuity of stock options:

	Number of stock options			Weighted average exercise price $
Balance, March 31, 2016		23,812			60
Expired		(2,885	)		60
Cancelled		(727	)		60
Outstanding, March 31, 2017 and December 31, 2017		20,200			60

Exercisable, December 31, 2017		18,575			60

As at December 31, 2017, the following share purchase options were outstanding:

Number of options outstanding

Number of options vested

Exercise
price

Expiry date

20,200

18,575

September 30, 2020

During the nine months ended December 31, 2017, $41,606 (2016 - $167,033) in stock-based compensation expense was recorded and allocated amongst general and administrative, consulting fees, management fees (related party), and research and development expenses. The intrinsic value of the options was $nil at December 31, 2017, and March 31, 2017.

MOBETIZE, CORP. 10-Q