Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v2.4.0.6
Stock-Based Compensation (Tables)
9 Months Ended
Dec. 31, 2012
Text Block [Abstract]  
Black-Scholes option valuation model assumptions
Expected dividend yield   0%  
Exercise price   $0.51 and $0.75  
Market price on date of grant   $0.51 and $0.71  
Risk-free interest rate   0.895% to 1.74%  
Expected (years)   6.25 to 10.0  
Volatility   82.9% to 85.4%  
Fair value per share at grant date   $0.36 to $0.59  
Stock option activity summary
    Nine Months Ended  
    December 31, 2012  
    Number of     Weighted Average  
    Shares     Exercise Price  
             
 Options outstanding at beginning of period     4,805,771     $ 1.53  
 Options granted     1,075,550     $ 0.72  
 Options exercised     -     $ -  
 Options cancelled     (870,550 )   $ 1.72  
 Options expired     (44,000 )   $ 1.79  
                 
 Options outstanding at end of period     4,966,771     $ 1.33  
 Options exercisable at end of period     4,169,822     $ 1.36  
                 
 Weighted average grant-date fair value of                
 options granted during the period           $ 0.52  
Stock options outstanding and exercisable under Company's option plan
      Options Outstanding           Options Exercisable  
            Weighted              
            Average     Weighted           Weighted  
            Remaining     Average           Average  
Exercise     Number     Years until     Exercise     Number     Exercise  
Price     Outstanding   Expiration     Price     Exercisable   Price  
$ 0.51 - $0.72       267,540       7.30     $ 0.60       112,540     $ 0.72  
$ 0.75       920,550       9.84     $ 0.75       631,010     $ 0.75  
$ 0.80 - $1.13       455,776       4.08     $ 1.00       445,458     $ 0.99  
$ 1.50       2,413,250       6.93     $ 1.50       2,413,250     $ 1.50  
$ 1.65 - $1.925       725,000       6.32     $ 1.76       382,909     $ 1.73  
$ 2.10 - $2.99       184,655       4.62     $ 2.18       184,655     $ 2.18  
                                             
          4,966,771       7.05     $ 1.33       4,169,822     $ 1.36