Quarterly report pursuant to Section 13 or 15(d)

7. Stock-Based Compensation (Tables)

v3.5.0.2
7. Stock-Based Compensation (Tables)
6 Months Ended
Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]  
Weighted-average assumptions of fair value of employee stock options
   

Three Months

Ended

September 30,

   

Six Months

Ended

September 30,

 
    2016     2015     2016     2015  
Expected life   9.10 years     5.95 years     7.97 years     6.32 years  
Risk-free interest rate     1.49%       1.62%       1.45%       1.66%  
Dividend yield     0.00%       0.00%       0.00%       0.00%  
Volatility     98%       89%       94%       89%  
Fair value of options granted   $ 3.64     $ 4.25     $ 3.68     $ 4.40  
Employee stock-based compensation expense
    Three Months     Six Months  
    Ended     Ended  
    September 30,     September 30,  
    2016     2015     2016     2015  
Cost of service revenue   $ 66,000     $ 62,000     $ 134,000     $ 117,000  
Research and development     60,000       88,000       124,000       161,000  
Selling, general and administrative     280,000       342,000       559,000       626,000  
Total stock-based compensation   $ 406,000     $ 492,000     $ 817,000     $ 904,000  
Plan summary
Plan     Awards Outstanding  
  2006 Plan       171,000  
  2011 Plan       575,000  
          746,000  
  Awards available for grant as of September 30, 2016       372,000  
Schedule of option activity
    Number of
Shares
    Weighted-
Average
Exercise Price
    Weighted-
Average
Contractual Term
    Aggregate
Intrinsic
Value
 
Outstanding at April 1, 2016     753,000     $ 21.47                  
Options granted     25,000       4.49                  
Options exercised                            
Options forfeited     (15,000 )     7.09                  
Options expired     (17,000 )     22.68                  
Outstanding at September 30, 2016     746,000     $ 20.59       7.44     $ 2  
Exercisable at September 30, 2016     544,000     $ 24.91       6.99     $  
Restricted Stock Award Activity
   

Number of

Shares

   

Weighted

Average Award

Date Fair Value

per Share

 
Unvested restricted stock awards outstanding at April 1, 2016         $  
Restricted stock awards granted     9,000       4.47  
Restricted stock awards vested     (9,000 )     4.47  
Restricted stock awards forfeited            
Unvested restricted stock awards outstanding at September 30, 2016         $