14. Stock-Based Compensation (Tables)
|
12 Months Ended |
Mar. 31, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] |
|
Weighted-average assumptions of fair value of employee stock options |
|
|
Year Ended March 31, |
|
|
|
2018 |
|
|
2017 |
|
Fair value of the Company’s common stock on date of grant |
|
$ |
6.78 |
|
|
$ |
4.87 |
|
Expected term |
|
|
6.42 yrs |
|
|
|
5.73 yrs |
|
Risk-free interest rate |
|
|
2.04% |
|
|
|
1.91% |
|
Dividend yield |
|
|
0.00% |
|
|
|
0.00% |
|
Volatility |
|
|
120.8% |
|
|
|
126.0% |
|
Fair value of options granted |
|
$ |
5.97 |
|
|
$ |
4.12 |
|
|
Employee stock-based compensation expense |
|
|
Year
Ended March 31, |
|
|
|
2018 |
|
|
2017 |
|
Cost of revenues |
|
$ |
169,000 |
|
|
$ |
248,000 |
|
Research and development |
|
|
159,000 |
|
|
|
245,000 |
|
Selling, general and administrative |
|
|
2,082,000 |
|
|
|
1,652,000 |
|
Total stock-based compensation |
|
$ |
2,410,000 |
|
|
$ |
2,145,000 |
|
|
Plan summary |
|
|
|
|
|
Unvested |
|
|
|
|
Plan |
|
Stock Options |
|
|
Restricted Stock |
|
|
Total |
|
2006 Plan |
|
|
163,000 |
|
|
|
– |
|
|
|
163,000 |
|
2011 Plan |
|
|
1,000,000 |
|
|
|
9,000 |
|
|
|
1,009,000 |
|
2016 Plan |
|
|
230,000 |
|
|
|
23,000 |
|
|
|
253,000 |
|
|
|
|
1,393,000 |
|
|
|
32,000 |
|
|
|
1,425,000 |
|
Stock-based awards available for grant as of March 31, 2018 |
|
|
|
|
|
|
|
|
|
|
1,455,000 |
|
|
Schedule of option activity |
|
|
Number of
Shares
|
|
|
Weighted-
Average
Exercise Price
|
|
|
Weighted-
Average
Contractual Term
|
|
|
Aggregate
Intrinsic
Value
|
|
Outstanding at April 1, 2017 |
|
|
899,000 |
|
|
$ |
17.87 |
|
|
|
|
|
|
|
|
|
Options granted |
|
|
554,000 |
|
|
|
6.78 |
|
|
|
|
|
|
|
|
|
Options exercised |
|
|
(1,000 |
) |
|
|
5.27 |
|
|
|
|
|
|
|
|
|
Options forfeited |
|
|
(51,000 |
) |
|
|
6.78 |
|
|
|
|
|
|
|
|
|
Options expired |
|
|
(8,000 |
) |
|
|
222.37 |
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2018 |
|
|
1,393,000 |
|
|
$ |
12.70 |
|
|
|
7.45 |
|
|
$ |
– |
|
Exercisable at March 31, 2018 |
|
|
796,000 |
|
|
$ |
17.32 |
|
|
|
6.35 |
|
|
$ |
– |
|
|
Schedule of unvested restricted stock activity |
|
|
Number of
Shares
|
|
|
Weighted
Average Award
Date Fair Value
per Share
|
|
Unvested restricted stock awards outstanding at April 1, 2017 |
|
|
34,000 |
|
|
$ |
7.27 |
|
Restricted stock awards granted |
|
|
199,000 |
|
|
|
5.58 |
|
Restricted stock awards vested |
|
|
(201,000 |
) |
|
|
5.72 |
|
Restricted stock awards forfeited |
|
|
– |
|
|
|
– |
|
Unvested restricted stock awards outstanding at March 31, 2018 |
|
|
32,000 |
|
|
$ |
6.46 |
|
|