Annual report pursuant to Section 13 and 15(d)

14. Stock-Based Compensation (Tables)

v3.19.2
14. Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2019
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,  
    2019     2018  
Fair value of the Company’s common stock on date of grant   $ 10.71     $ 61.02  
Expected term     5.38 yrs       6.42 yrs  
Risk-free interest rate     2.61%       2.04%  
Dividend yield     0.00%       0.00%  
Volatility     121.5%       120.8%  
Fair value of options granted   $ 9.00     $ 53.73  
Employee stock-based compensation expense
    Year Ended March 31,  
    2019     2018  
Cost of revenues   $ 90,000     $ 169,000  
Research and development     107,000       159,000  
Selling, general and administrative     1,379,000       2,082,000  
Total stock-based compensation   $ 1,576,000     $ 2,410,000  
Plan summary
          Unvested        
Plan   Stock Options     Restricted Stock     Total  
2006 Plan     10,000       –       10,000  
2011 Plan     92,000       1,000       93,000  
2016 Plan     19,000       3,000       22,000  
Granted outside shareholder approved plans     44,000       –       44,000  
      165,000       4,000       169,000  
Stock-based awards available for grant as of March 31, 2019                     343,000  
Schedule of option activity
    Number of
Shares		     Weighted-
Average
Exercise Price		     Weighted-
Average
Contractual Term		     Aggregate
Intrinsic
Value		  
Outstanding at April 1, 2018     155,000     $ 114.30                  
Options granted     73,000       10.71                  
Options exercised     –       –                  
Options forfeited     (7,000 )     60.48                  
Options expired     (56,000 )     108.00                  
Outstanding at March 31, 2019     165,000     $ 72.81       7.48     $ 107,000  
Exercisable at March 31, 2019     80,000     $ 124.02       5.68     $ –  
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, 2018     4,000     $ 58.14  
Restricted stock awards granted     2,000       17.10  
Restricted stock awards vested     (2,000 )     53.46  
Restricted stock awards forfeited     –       62.73  
Unvested restricted stock awards outstanding at March 31, 2019     4,000     $ 27.99