GBS Enterprises Inc - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - November 16, 2011

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EX-32.1 - EXHIBIT 32.1 - GBS Enterprises Incv240669_ex32-1.htm
EX-32.2 - EXHIBIT 32.2 - GBS Enterprises Incv240669_ex32-2.htm
EX-31.2 - EXHIBIT 31.2 - GBS Enterprises Incv240669_ex31-2.htm
EX-31.1 - EXHIBIT 31.1 - GBS Enterprises Incv240669_ex31-1.htm
v2.3.0.15
WARRANTS
6 Months Ended
Sep. 30, 2011
WARRANTS
NOTE 12- WARRANTS

The Company has issued warrants to outside consultants in payments for services provided as detailed in the following schedule. The warrants are issued as “cashless” warrants and all have a three-year term with the exception of the warrant issued on October 10, 2010, which has a 30 month term. The warrants have been valued using a Black-Scholes option pricing model with appropriate volatility, equity value and interest rate inputs as noted below. The valuation of the warrants is for disclosure purposes only as the charge is related to the cost of issuing the shares and there is no impact to the financial statements.

Common Stock Warrants Issued
to Outside Consultants
  
Common
Shares
    
Exercise
Price
  
Valuation
Date
  
Fair Value per 
Warrant Share
    
Warrants'
Fair Value
  
                           
Issued on October 1, 2010
     2,000,000     $ 4.00  
10/1/2010
   $ -     $ -  
Issued on March 14, 2011
     707,280     $ 1.50  
3/14/2011
   $ 0.34     $ 240,475  
Issued on March 24, 2011
     15,000     $ 1.50  
3/24/2011
   $ 0.34     $ 5,100  
Total Warrant Value
                             $ 245,575  

The fair value of the warrant as at the grant date of October 1, 2010 was based on the Black-Scholes option pricing model, using the following assumptions:

Expected dividend yield
  
0%
Average risk-free interest rate
  
0.74%
Expected life
  
2.5 years
Expected volatility
  
65.0%

The fair value of the warrant as at the grant date of March 14, and March 24, 2011 were based on the Black-Scholes option pricing model, using the following assumptions:

Expected dividend yield
  
0%
Average risk-free interest rate
  
1.07 – 1.19%
Expected life
  
3 years
Expected volatility
  
77.2%
 

 
As at September 30, 2011, the number of shares the warrants outstanding could purchase if exercised was as follows:
 
         
Weighted
  
   
Common
    
Average
  
Warrants
  
Shares
    
Price/sh
  
Outstanding, beginning of period
     8,766,280     $ 2.07  
Issued
     100,000     $ 1.50  
Expired
     -     $ -  
Outstanding, end of period
     8,866,280     $ 2.06

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