Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation

v3.22.2.2
Stock-Based Compensation
 6 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation

 

Note 8. Stock-Based Compensation

 

Stock-based compensation expense is as follows:

                       
    Three Months Ended September 30,     Six Months Ended September 30,  
(In thousands)   2022     2021     2022     2021  
Cost of revenues   $ –     $ –     $ –     $ –  
Research and development     –       –       –       –  
Selling, general and administrative     113       55       327       114  
Total stock-based compensation   $ 113     $ 55     $ 327     $ 114  

 

At September 30, 2022, there were unrecognized compensation costs of $742,000 related to stock options which is expected to be recognized over a weighted-average amortization period of 1.64 years.

  

Stock options award activity is as follows:

           
    Number of
Shares		     Weighted-
Average
Exercise Price		  
Outstanding at April 1, 2022     466,234     $ 12.09  
Options granted     –       –  
Options exercised     –       –  
Options forfeited     (58,165 )     5.67  
Options expired     (2,211 )     136.39  
Outstanding at September 30, 2022     405,858     $ 12.34  
Exercisable at September 30, 2022     197,503     $ 19.42  

 

The aggregate intrinsic value of stock options of zero 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 $2.13 per share at September 30, 2022.

 

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

 

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