Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v2.4.0.8
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Dec. 31, 2013
Summary Of Significant Accounting Policies Tables  
Summary of stock-based compensation expense
    Three Months Ended     Nine Months Ended  
    December 31,     December 31,  
    2013     2012     2013     2012  
 Research and development expense:                        
 Stock option grants, including expense related to modifications   $ 126,900     $ 574,700     $ 240,300     $ 666,800  
 Warrants granted to officer in March 2013     33,400       -       100,300       -  
      160,300       574,700       340,600       666,800  
 General and administrative expense:                                
 Stock option grants, including expense related to modifications     242,100       239,000       352,500       295,200  
 Warrants granted to officers and directors in March 2013     66,900       -       200,600       -  
      309,000       239,000       553,100       295,200  
 Total stock-based compensation expense   $ 469,300     $ 813,700     $ 893,700     $ 962,000  
Computation of basic net income (loss) and diluted nte loss attributable to common stockholders per share
   

Quarters Ended

December 31,

   

Nine Months Ended

December 31,

 
    2013     2012     2013     2012  
 Numerator:                        
 Net income (loss) attributable to common stockholders for basic earnings per share   $ 131,100     $ (15,528,200 )   $ (1,143,100 )   $ (19,309,800 )
  less: change in fair value of warrant liability attributable to Exchange, Investment and Bridge Warrants issued to Platinum     (620,900 )     -       -       -  
                                 
 Net loss for diluted earnings per share attributable to common stockholders   $ (489,800 )   $ (15,528,200 )   $ (1,143,100 )   $ (19,309,800 )
                                 
 Denominator:                                
 Weighted average basic common shares outstanding     22,210,573       18,292,301       21,554,929       17,411,993  
   Assumed conversion of dilutive securities:                                
 Warrants to purchase common stock     -       -       -       -  
 Potentially dilutive common shares assumed converted     -       -       -       -  
Denominator for diluted earnings per share - adjusted weighted average shares     22,210,573       18,292,301       21,554,929       17,411,993  
 Basic net income (loss) attributable to common stockholders per common share   $ 0.01     $ (0.85 )   $ (0.05 )   $ (1.11 )
 Diluted net loss attributable to common stockholders per common share   $ (0.02 )   $ (0.85 )   $ (0.05 )   $ (1.11 )
Schedule of antidilutive securities excluded from computation of earnings per share
    December 31,  
    2013     2012  
Series A preferred stock issued and outstanding (1)     15,000,000       15,000,000  
Warrant shares issuable to Platinum upon exercise of common stock warrants by Platinum upon exchange of Series A preferred stock under the terms of the October 11, 2012 Note Purchase and Exchange Agreement     7,500,000       7,500,000  
Outstanding options under the 2008 and 1999 Stock Incentive Plans     4,705,270       4,966,771  
Outstanding warrants to purchase common stock     15,710,885       9,873,034  
10% convertible Exchange Note and Investment Notes issued to Platinum in October 2012, February 2013 and March 2013, including accrued interest through December 31, 2013 (2)     7,271,640       4,645,198  
10% Convertible note issued to Platinum on July 26, 2013, including accrued interest through December 31, 2013     522,339       -  
10% Convertible notes issued as a component of Unit Offering, including accrued interest through December 31, 2013     1,186,097       -  
Total     51,896,231       41,985,003