Annual report pursuant to Section 13 and 15(d)

14. Stock-Based Compensation (Tables)

v2.4.1.9
14. Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Plan summary
Plan   Total Number of Options Outstanding in by Plan  
2004 Plan   40,000  
2006 Plan   1,149,000  
2011 Plan   1,688,000  
    2,877,000  
Schedule of option activity
    Number of
Options 		    Weighted-
Average
Exercise Price 		    Weighted-
Average
Contractual Term 		    Aggregate
Intrinsic
Value 		 
Outstanding at March 31, 2014     2,536,000     $           7.78                  
Options granted     384,000       2.28                  
Options exercised     –       –                  
Options forfeited or expired     (43,000 )     (13.89 )                 
Outstanding at March 31, 2015     2,877,000     $ 6.96                 7.82                 –  
Exercisable at March 31, 2015     1,592,000     $ 9.62       6.88       –  
Options available for grant as of March 31, 2015     1,456,000                          
Employee stock-based compensation expense
    Employee
Stock-based
Compensation
for the Year Ended
March 31, 2015 		    Employee
Stock-based
Compensation
for the Year Ended
March 31, 2014 		 
Cost of revenues   $ 235,000     $ 126,000  
Research and development     339,000       187,000  
Selling, general and administrative     1,197,000       794,000  
Total stock-based compensation   $ 1,771,000     $ 1,107,000  
Weighted-average assumptions of fair value of employee stock options
    Year Ended March 31,  
    2015     2014  
Fair value of the Company’s common stock on date of grant   $ 2.28     $ 3.91  
Expected Term     6.67 yrs       5.96 yrs  
Risk-free interest rate     1.70%       1.66%  
Dividend yield     0.00%     0.00%  
Volatility     93.0%     86.0%