Stock Based Compensation (March 10-K Note) (Tables)
|
3 Months Ended |
12 Months Ended |
Jun. 30, 2015 |
Mar. 31, 2015 |
| Stock Based Compensation [Abstract] |
|
|
| Summary of Stock Option and Warrant Activity |
|
A summary of stock option activity during the year ended March 31, 2015 is as follows:
| |
|
Shares |
|
|
Weighted-
Average
Exercise
Price
|
|
|
Weighted-
Average
Remaining
Contractual
Term (in Years)
|
|
|
Aggregate
Intrinsic
Value
|
|
Beginning outstanding, March 31, 2014 |
|
|
371,759 |
|
|
$ |
7.89 |
|
|
|
7.59 |
|
|
$ |
775.00 |
|
Granted |
|
|
352,747 |
|
|
|
1.29 |
|
|
|
|
|
|
|
|
|
Forfeited |
|
|
(32,848 |
) |
|
|
2.87 |
|
|
|
|
|
|
|
|
|
Expired |
|
|
(26,600 |
) |
|
|
4.01 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending outstanding, March 31, 2015 |
|
|
665,058 |
|
|
$ |
4.79 |
|
|
|
7.80 |
|
|
$ |
67,951.00 |
|
Ending vested and expected to vest |
|
|
664,783 |
|
|
$ |
4.79 |
|
|
|
7.80 |
|
|
$ |
67,920.00 |
|
Ending exercisable |
|
|
289,379 |
|
|
$ |
8.65 |
|
|
|
6.01 |
|
|
$ |
200.00 |
|
|
| Summary Information with Respect to Stock Options and Warrants Outstanding |
|
The following table summarizes information with respect to stock options outstanding as of March 31, 2015:
|
Range of
Exercise Prices
|
|
|
Number
Outstanding
As of
March 31,
2015
|
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years)
|
|
|
Weighted-
Average
Exercise
Price
|
|
|
Number
Exercisable
As of
March 31,
2015
|
|
|
Weighted-
Average
Exercise
Price
As of
March 31,
2015
|
|
$ |
0.75 |
|
|
$ |
1.50 |
|
|
|
218,679 |
|
|
|
9.67 |
|
|
$ |
0.80 |
|
|
|
15,000 |
|
|
$ |
1.35 |
|
|
1.99 |
|
|
|
3.22 |
|
|
|
190,567 |
|
|
|
9.10 |
|
|
|
2.55 |
|
|
|
77,817 |
|
|
|
2.46 |
|
|
3.35 |
|
|
|
6.00 |
|
|
|
158,997 |
|
|
|
6.83 |
|
|
|
3.90 |
|
|
|
99,747 |
|
|
|
3.89 |
|
|
11.70 |
|
|
|
17.80 |
|
|
|
47,024 |
|
|
|
3.54 |
|
|
|
12.13 |
|
|
|
47,024 |
|
|
|
12.13 |
|
|
21.00 |
|
|
|
34.20 |
|
|
|
38,960 |
|
|
|
2.13 |
|
|
|
22.67 |
|
|
|
38,960 |
|
|
|
22.67 |
|
|
41.40 |
|
|
|
41.45 |
|
|
|
10,831 |
|
|
|
0.43 |
|
|
|
41.40 |
|
|
|
10,831 |
|
|
|
41.40 |
|
|
|
|
|
|
|
|
|
|
665,058 |
|
|
|
|
|
|
|
|
|
|
|
289,379 |
|
|
|
|
|
|
| Valuation Assumptions to Estimate the Fair Value of Options granted |
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% |
|
|
| Summary of Restricted Stock Award Activity |
|
The following table summarizes the Company’s restricted stock award activity for the period ended March 31, 2015:
| |
|
Number
of
Shares
|
|
|
Weighted-
Average
Grant Date
Fair Value
|
|
Balance March 31, 2014 |
|
|
129,070 |
|
|
$ |
2.77 |
|
Granted |
|
|
150,000 |
|
|
|
1.54 |
|
Forfeited |
|
|
(10,000 |
) |
|
|
3.75 |
|
Vested |
|
|
(269,070 |
) |
|
|
2.05 |
|
Balance, March 31, 2015 |
|
|
- |
|
|
$ |
- |
|
|