Quarterly report pursuant to Section 13 or 15(d)

8. Stock-Based Compensation (Tables)

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8. Stock-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Assumptions used
    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
    2015     2014     2015     2014  
Expected life     7.04 years       5.18 years       6.30 years       8.10 years  
Risk-free interest rate     1.90%       1.64%       1.70%       1.97%  
Dividend yield     0.00%       0.00%       0.00%       0.00%  
Volatility     89%       89%       89%       93%  
Fair value of options granted   $ 0.95     $ 1.32     $ 0.88     $ 2.21  
Employee stock-based compensation expense
    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
    2015     2014     2015     2014  
Cost of revenue   $ 72,000     $ 58,000     $ 189,000     $ 180,000  
Research and development     107,000       82,000       268,000       260,000  
Selling, general and administrative     374,000       307,000       1,002,000       914,000  
Total stock-based compensation   $ 553,000     $ 447,000     $ 1,459,000     $ 1,354,000  
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     1,207,000       1.18                  
Options exercised     –       –                  
Options forfeited     (68,000 )     (2.94 )                
Options expired     (318,000 )     (16.48 )                
Outstanding at December 31, 2015     3,698,000     $ 4.33       8.07     $ 18,000  
Exercisable at December 31, 2015     1,856,000     $ 6.47       7.08     $ 18,000  
Options available for grant as of December 31, 2015     3,104,000