Quarterly report pursuant to Section 13 or 15(d)

8. Stock-Based Compensation (Tables)

v2.4.1.9
8. Stock-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Employee stock-based compensation expense
    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
    2014     2013     2014     2013  
Cost of revenue   $ 58,000     $ 29,000     $ 180,000     $ 84,000  
Research and development     82,000       45,000       260,000       122,000  
Selling, general and administrative     307,000       217,000       914,000       566,000  
Total stock-based compensation   $ 447,000     $ 291,000     $ 1,354,000     $ 772,000  
Weighted average assumptions of fair falue of employee stock options
   

Three Months
Ended
December 31,

    

Nine Months
Ended
December 31,

  
    2014     2013     2014     2013  
Expected life   5.18 years     5.10 years     8.10 years     5.83 years  
Risk-free interest rate     1.64%       1.75%       1.97%       1.44%  
Dividend yield     0.00%       0.00%       0.00%       0.00%  
Volatility     89%       82%       93%       85%  
Fair value of options granted   $ 1.32     $ 2.16     $ 2.21     $ 2.11  
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     296,000       2.61                  
Options exercised     –       –                  
Options forfeited or expired     (27,000 )     20.88                  
Outstanding at December 31, 2014     2,805,000     $ 7.11       8.02     $ $1,000  
Exercisable at December 31, 2014     1,375,000     $ 10.59       6.81     $ $1,000  
Options available for grant as of December 31, 2014     1,528,000