Quarterly report pursuant to Section 13 or 15(d)

8. Stock-Based Compensation (Tables)

v3.6.0.2
8. Stock-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 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

December 31,

    

Nine Months

Ended

December 31,

  
    2016     2015     2016     2015  
Expected life   5.22 years     7.04 years     5.75 years     6.30 years  
Risk-free interest rate     1.86%       1.90%       1.83%       1.70%  
Dividend yield     0.00%       0.00%       0.00%       0.00%  
Volatility     130%       89%       126%       89%  
Fair value of options granted   $ 4.18     $ 4.75     $ 4.08     $ 4.40  
Employee stock-based compensation expense
    Three Months     Nine Months  
    Ended     Ended  
    December 31,     December 31,  
    2016     2015     2016     2015  
Cost of service revenue   $ 63,000     $ 72,000     $ 197,000     $ 189,000  
Research and development     77,000       107,000       201,000       268,000  
Selling, general and administrative     774,000       374,000       1,334,000       1,002,000  
Total stock-based compensation   $ 914,000     $ 553,000     $ 1,732,000     $ 1,459,000  
Plan summary
Plan   Awards Outstanding  
2006 Plan     171,000  
2011 Plan     580,000  
2016 Plan     100,000  
      851,000  
Awards available for grant as of December 31, 2016     1,265,000  
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     135,000       4.76                  
Options exercised     –       –                  
Options forfeited     (16,000 )     7.34                  
Options expired     (21,000 )     20.15                  
Outstanding at December 31, 2016     851,000     $ 18.63       7.54     $ 46,000  
Exercisable at December 31, 2016     678,000     $ 21.41       7.27     $ 33,000  
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     31,000       4.81  
Restricted stock awards vested     (31,000 )     4.81  
Restricted stock awards forfeited     –       –  
Unvested restricted stock awards outstanding at December 31, 2016     –     $ –