Annual report pursuant to Section 13 and 15(d)

14. Stock-Based Compensation (Tables)

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14. Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Weighted-average assumptions of fair value of employee stock options
    Year Ended March 31,  
    2017     2016  
Fair value of the Company’s common stock on date of grant   $ 4.87     $ 5.90  
Expected term     5.73 yrs       6.39 yrs  
Risk-free interest rate     1.91%       1.63%  
Dividend yield     0.00%       0.00%  
Volatility     126.0%       93.0%  
Fair value of options granted   $ 4.12     $ 4.45  
Employee stock-based compensation expense
    Stock-based
Compensation
for the Year Ended
March 31, 2017		     Stock-based
Compensation
for the Year Ended
March 31, 2016		  
Cost of revenues   $ 248,000     $ 364,000  
Research and development     245,000       339,000  
Selling, general and administrative     1,652,000       1,320,000  
Total stock-based compensation   $ 2,145,000     $ 2,023,000  
Plan summary
Plan     Stock Options     Restricted Stock     Total  
  2006 Plan       170,000       –       170,000  
  2011 Plan       573,000       34,000       607,000  
  2016 Plan       156,000       –       156,000  
          899,000       34,000       933,000  
  Stock-based awards available for grant as of March 31, 2017                       1,170,000  
Schedule of option activity
    Number of
Shares		     Weighted-
Average
Exercise Price		     Weighted-
Average
Contractual Term		     Aggregate
Intrinsic
Value		  
Outstanding at April 1, 2016     753,000     $ 20.91                  
Options granted     190,000       4.87                  
Options exercised     (1,000 )     5.80                  
Options forfeited     (19,000 )     7.10                  
Options expired     (24,000 )     19.85                  
Outstanding at March 31, 2017     899,000     $ 17.87       7.46     $ 459,000  
Exercisable at March 31, 2017     711,000     $ 21.05       7.08     $ 459,000  
Schedule of unvested restricted stock activity
   

Number of

Shares

    

Weighted

Average Award

Date Fair Value

per Share

  
Unvested restricted stock awards outstanding at April 1, 2016     –     $ –  
Restricted stock awards granted     86,000       6.05  
Restricted stock awards vested     (52,000 )     5.27  
Restricted stock awards forfeited     –       –  
Unvested restricted stock awards outstanding at March 31, 2017     34,000     $ 7.27