Registration of securities issued in business combination transactions

Description of Business and Summary of Significant Accounting Policies (Tables)

Description of Business and Summary of Significant Accounting Policies (Tables)

3 Months Ended

12 Months Ended

Jun. 30, 2015

Mar. 31, 2015

Valuation assumptions to estimate the fair value of options

The Company utilized the following assumptions to estimate the fair value of options that were granted for the three months ended June 30, 2014. There were no options granted for the three months ended June 30, 2015.

	Three Months Ended June 30,
	2015		2014
Expected life (years)		N/A		6.0
Volatility		N/A		151.70%
Risk-free interest rate		N/A		1.62% -1.74%
Dividend yield		N/A		0%
Forfeiture rate		N/A		10%

The Company used the following valuation assumptions to estimate the fair value of options granted for the years ended March 31, 2015 and 2014, respectively:

	Twelve Months Ended March 31,
	2015		2014
Expected life (years)		6.0		6.0
Volatility		141.73% - 151.70%		151.81% - 152.95%
Risk-free interest rate		1.63% - 1.75%		1.30% - 1.72%
Dividend yield		0%		0%

Stock option activity

A summary of the stock option activity during the three months ended June 30, 2015is as follows:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (in Years)		Aggregate Intrinsic Value
Beginning outstanding, March 31, 2015		665,058		$	4.79		7.80	$	67,951
Granted		--			-
Forfeited		(49,938	)		2.54
Expired		(4,501	)		25.52

Ending outstanding, June 30, 2015		610,619		$	4.82		7.35	$	-
Ending vested and expected to vest		610,474		$	4.82		7.35	$	-
Ending exercisable		299,876		$	8.06		5.62	$	-

Stock options outstanding

The following table summarizes information with respect to stock options outstanding as of June 30, 2015:

Range of Exercise Prices				Number Outstanding As of June 30, 2015		Weighted- Average Remaining Contractual Term (in years)		Weighted- Average Exercise Price		Number Exercisable As of June 30, 2015		Weighted- Average Exercise Price As of June 30, 2015
$	0.75	$	1.50		206,679		9.42	$	0.80		17,500	$	1.31
	1.99		3.22		167,629		8.39		2.54		88,190		2.41
	3.35		6.00		143,997		6.25		3.90		101,872		3.89
	11.70		17.80		46,191		3.35		12.03		46,191		12.03
	21.00		34.20		36,125		2.04		22.63		36,125		22.63
	41.40		41.45		9,998		0.21		41.40		9,998		41.40
					610,619		7.35	$	4.82		299,876	$	8.06