Sonoma Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

1. Organization and Summary of Significant Accounting Policies (Tables)

1. Organization and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jun. 30, 2012

Organization And Summary Of Significant Accounting Policies Tables

	June 30,
	2012		2011
	(in thousands)
Options to purchase common stock		6,205		5,666
Warrants to purchase common stock		10,704		9,590
		16,909		15,256

Financial liabilities measured at fair value on a recurring basis

Financial liabilities measured at fair value on a recurring basis are summarized below:

Fair value measurements (in thousands) at June 30, 2012 using

June 30,
2012

Quoted prices in
active markets for
identical assets
(Level 1)

Significant
other
observable
inputs
(Level 2)

Significant
unobservable
inputs
(Level 3)

Liabilities:

Fair value of warrant obligations (Note 5)

1,155

–

1,155

Fair value measurements (in thousands) at March 31, 2012 using

March 31,
2012

Quoted prices in
active markets for
identical assets
(Level 1)

Significant
other
observable
inputs
(Level 2)

Significant
unobservable
inputs
(Level 3)

Liabilities:

Fair value of warrant obligations (Note 5)

–

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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