Quarterly report pursuant to Section 13 or 15(d)

8. Stock-Based Compensation (Tables)

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8. Stock-Based Compensation (Tables)
 6 Months Ended
Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Assumptions used
   

Three Months

Ended

September 30,

    

Six Months

Ended

September 30,

  
    2015     2014     2015     2014  
Expected life   5.95 years     8.90 years     6.32 years     5.89 years  
Risk-free interest rate     1.62%       2.32%       1.66%       1.42%  
Dividend yield     0.00%       0.00%       0.00%       0.00%  
Volatility     89%       98%       89%       86%  
Fair value of options granted   $ 0.85     $ 2.39     $ 0.88     $ 2.10  
Employee stock-based compensation expense
    Three Months     Six Months  
    Ended     Ended  
    September 30,     September 30,  
    2015     2014     2015     2014  
Cost of service revenue   $ 62,000     $ 59,000     $ 117,000     $ 123,000  
Research and development     88,000       82,000       161,000       178,000  
Selling, general and administrative     342,000       315,000       626,000       606,000  
Total stock-based compensation   $ 492,000     $ 456,000     $ 904,000     $ 907,000  
Schedule of option activity
    Number of
Shares 		    Weighted-
Average
Exercise Price 		    Weighted-
Average
Contractual Term 		    Aggregate
Intrinsic
Value 		 
Outstanding at April 1, 2015     2,877,000     $ 6.96                  
Options granted     1,167,000       1.18                  
Options exercised     –       –                  
Options forfeited     (50,000 )     (3.37 )                
Options expired     (293,000 )     (12.04 )                
Outstanding at September 30, 2015     3,701,000     $ 4.78       8.29     $ 157,000  
Exercisable at September 30, 2015     1,687,000     $ 7.75       7.13     $ 29,000  
Options available for grant as of September 30, 2015     3,125,000