Quarterly report pursuant to Section 13 or 15(d)

8. Stock-Based Compensation (Tables)

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8. Stock-Based Compensation (Tables)
 3 Months Ended
Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Assumptions used
    Three Months
Ended
June 30, 2015
Expected life   8.96 years    
Risk-free interest rate     2.18%    
Dividend yield     0.00%    
Volatility     86%    
Fair value of options granted   $ 1.08    
Employee stock-based compensation expense
    Three Months Ended
June 30, 		 
    2015     2014  
Cost of revenues   $ 55,000     $ 64,000  
Research and development     73,000       96,000  
Selling, general and administrative     284,000       291,000  
Total stock-based compensation   $ 412,000     $ 451,000  
Schedule of option activity
    Number of
Shares 		    Weighted-
Average
Exercise Price 		    Weighted-
Average
Contractual Term 		    Aggregate
Intrinsic
Value 		 
Outstanding at April 1, 2015     2,877,000     $ 6.96                  
Options granted     155,000       1.32                  
Options exercised     –       –                  
Options forfeited or expired     (53,000 )     (4.97 )                
Outstanding at June 30, 2015     2,979,000     $ 6.70       7.19     $ 38,000  
Exercisable at June 30, 2015     1,781,000     $ 8.91       6.05     $ 36,000  
Options available for grant as of June 30, 2015     3,858,000