Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.22.2
Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Weighted-average assumptions of fair value of employee stock options
               
    Year Ended March 31,  
    2022     2021  
Fair value of the Company’s common stock on date of grant   $ 4.60     $ 8.03  
Expected term     6.00 yrs       6.00 yrs  
Risk-free interest rate     1.60%       0.5800%  
Dividend yield     0.00%       0.00%  
Volatility     123.27%       80.7%  
Fair value of options granted   $ 4.03     $ 5.48  
Employee stock-based compensation expense
               
    Year Ended March 31,  
    2022     2021  
Cost of revenues   $ –     $ (27,000 )
Research and development     –       26,000  
Selling, general and administrative     382,000       372,000  
Total stock-based compensation   $ 382,000     $ 371,000  
Schedule of stock-based awards outstanding by plan
                       
          Unvested        
Plan   Stock Options     Restricted Stock     Total  
2006 Plan     2,787       –       2,787  
2011 Plan     111,949       –       111,949  
2016 Plan     221,497       –       221,497  
2021 Plan     130,001       –       130,001  
      466,234       –       466,234  
Stock-based awards available for grant as of March 31, 2022                     982,105  
Schedule of option activity
                               
    Number of
Shares		     Weighted-
Average
Exercise Price		     Weighted-
Average
Contractual Term		     Aggregate
Intrinsic
Value		  
Outstanding at April 1, 2021     267,569     $ 25.16                  
Options granted     272,958       4.60                  
Options exercised     (44,042 )     4.38                  
Options forfeited     (5,250 )     6.89                  
Options expired     (25,001 )     84.83                  
Outstanding at March 31, 2022     466,234     $ 12.09       8.89     $ 0  
Exercisable at March 31, 2022     115,144     $ 32.56       6.85     $ 0  
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, 2021     833     $ 13.68  
Restricted stock awards granted     1,596       3.05  
Restricted stock awards vested     (2,429 )     6.70  
Unvested restricted stock awards outstanding at March 31, 2022     –     $ –