Sonoma Pharmaceuticals, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

8. Stock-Based Compensation (Tables)

8. Stock-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2014

Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]

Employee stock-based compensation expense

		Three Months								Six Months
		Ended								Ended
		September 30,								September 30,
		2014				2013				2014				2013
Cost of service revenue		$	59,000			$	30,000			$	123,000			$	56,000
Research and development			82,000				45,000				178,000				78,000
Selling, general and administrative			315,000				221,000				606,000				349,000
Total stock-based compensation		$	456,000			$	296,000			$	907,000			$	483,000

Weighted average assumptions of fair falue of employee stock options

		Three and Six Months Ended September 30,								Six Months Ended September 30,
		2014				2013				2014				2013
Expected life		8.90 years				5.89 years				5.89 years				5.89 years
Risk-free interest rate			2.32%				1.42%				1.42%				1.42%
Dividend yield			0.00%				0.00%				0.00%				0.00%
Volatility			98%				86%				86%				86%
Fair value of options granted		$	2.39			$	2.10			$	2.10			$	2.10

Summary of option activity

		Number of Shares				Weighted- Average Exercise Price				Weighted- Average Contractual Term				Aggregate Intrinsic Value
Outstanding at April 1, 2014			2,536,000			$	7.78
Options granted			245,000				2.76
Options exercised			–				–
Options forfeited or expired			(27,000	)			20.88
Outstanding at September 30, 2014			2,754,000			$	7.21				8.24			$	–
Exercisable at September 30, 2014			1,197,000			$	11.62				6.71			$	–
Options available for grant as of September 30, 2014			1,579,000