Note 8 - INCOME TAXES (Tables)
|
12 Months Ended |
Mar. 31, 2016 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of loss before Income Tax, Domestic and Foreign |
| |
|
Year ended March 31, |
|
| |
|
2016 |
|
|
2015 |
|
| |
|
$ |
|
|
$ |
|
| Loss before income taxes arising in UK |
|
|
(1,300,468 |
) |
|
|
(979,014 |
) |
| Loss before income taxes arising in United States |
|
|
(239,169 |
) |
|
|
(340,826 |
) |
| Total loss before income tax |
|
|
(1,539,637 |
) |
|
|
(1,319,840 |
) |
|
| Reconciliation of effective tax rate |
| |
|
Year ended March 31, |
|
| |
|
2016 |
|
|
2015 |
|
| |
|
|
$ |
|
|
|
|
|
$ |
|
|
|
| Loss before income taxes |
|
|
(1,539,637 |
) |
|
|
|
|
(1,319,840 |
) |
|
|
| Expected tax benefit |
|
|
(523,000 |
) |
|
|
(34 |
%) |
|
|
(449,000 |
) |
|
|
(34 |
%) |
| Foreign tax differential |
|
|
216,000 |
|
|
|
14 |
% |
|
|
133,000 |
|
|
|
10 |
% |
| Non-deductible expenses |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Enhanced research and development |
|
|
(177,000 |
) |
|
|
(11 |
%) |
|
|
(148,000 |
) |
|
|
(11 |
%) |
| Other |
|
|
- |
|
|
|
0 |
% |
|
|
6,000 |
|
|
|
0 |
% |
| Change in valuation allowance |
|
|
484,000 |
|
|
|
31 |
% |
|
|
458,000 |
|
|
|
35 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Actual income tax benefit |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
| Schedule of deferred income tax assets |
| |
|
|
|
|
|
|
| |
|
As of March 31, |
|
| |
|
2016 |
|
2015 |
|
| |
|
$ |
|
$ |
|
| Net operating tax loss carried forwards |
|
|
1,363,000 |
|
|
|
879,000 |
|
| Valuation allowance |
|
|
(1,363,000 |
) |
|
|
(879,000 |
) |
| Net deferred tax assets |
|
|
- |
|
|
|
- |
|
|