Quarterly report pursuant to Section 13 or 15(d)

8. Stock-Based Compensation

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8. Stock-Based Compensation
 9 Months Ended
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Stock-Based Compensation

Note 8. Stock-Based Compensation

 

Share-based awards compensation expense is as follows:

 

    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
    2019     2018     2019     2018  
Cost of service revenue   $ 17,000     $ 24,000     $ 51,000     $ 89,000  
Research and development     19,000       26,000       60,000       87,000  
Selling, general and administrative     76,000       352,000       426,000       1,099,000  
Total stock-based compensation   $ 112,000     $ 402,000     $ 537,000     $ 1,275,000  

 

At December 31, 2019, there were unrecognized compensation costs of $1,126,000 related to stock options which is expected to be recognized over a weighted-average amortization period of 0.93 years.

 

At December 31, 2019, there were unrecognized compensation costs of $20,000 related to restricted stock which is expected to be recognized over a weighted-average amortization period of 1.72 years.

 

Stock options award activity is as follows:

 

    Number of
Shares		     Weighted-
Average
Exercise Price		     Weighted-
Average
Contractual Term		     Aggregate
Intrinsic
Value		  
Outstanding at April 1, 2019     165,000     $ 72.88       –       –  
Options granted     268,000       4.36       –       –  
Options exercised     –       –       –       –  
Options forfeited     (7,000 )     32.07       –       –  
Options expired     (68,000 )     36.61       –       –  
Outstanding at December 31, 2019     358,000     $ 29.27       8.96     $ –  
Exercisable at December 31, 2019     77,000     $ 111.48       5.61     $ –  

 

The aggregate intrinsic value of stock options is calculated as the difference between the exercise price of the underlying stock options and the fair value of the Company’s common stock, or $4.36 per share at December 31, 2019.

 

Restricted stock award activity is as follows:

 

   

Number of

Shares

    

Weighted

Average Award

Date Fair Value

per Share

  
Unvested restricted stock awards outstanding at April 1, 2019     4,000     $ 27.96  
Restricted stock awards granted     –       –  
Restricted stock awards vested     (2,000 )     39.02  
Restricted stock awards forfeited     –       –  
Unvested restricted stock awards outstanding at December 31, 2019     2,000     $ 13.68  

 

The Company did not capitalize any cost associated with stock-based compensation.

 

The Company issues new shares of common stock upon exercise of stock options or release of restricted stock awards.

 

The Company issues new shares of common stock upon exercise of stock-based awards.

 

No income tax benefit has been recognized relating to stock-based compensation expense and no tax benefits have been realized from exercised stock options.