Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v2.4.0.6
Stock Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2013
Stock Based Compensation [Abstract]  
Summary of Stock Option and Warrant Activity
A summary of stock option and warrant activity during the year ended March 31, 2013 is as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Weighted
 
 
Average
 
 
 
 
 
 
 
 
Average
 
 
Remaining
 
 
Aggregate
 
 
 
 
 
Exercise
 
 
Contractual
 
 
Intrinsic
 
 
Shares
 
 
Price
 
 
Term (in Years)
 
 
Value
 
Beginning outstanding
 
 
127,833
 
 
$
19.24
 
 
 
 
 
 
 
Granted
 
 
191,999
 
 
$
3.82
 
 
 
 
 
 
 
   Forfeited
 
 
(36,379
 )
 
$
4.02
 
 
 
 
 
 
 
   Expired
 
 
(19,577
 )
 
$
17.68
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ending outstanding
 
 
263,876
 
 
$
10.23
 
 
 
7.55
 
 
$
-
 
Ending vested and expected to vest
 
 
263,807
 
 
$
10.22
 
 
 
7.56
 
 
$
-
 
Ending exercisable
 
 
150,722
 
 
$
14.99
 
 
 
6.18
 
 
$
-
 

Summary Information with Respect to Stock Options and Warrants Outstanding
The following table summarizes information with respect to stock options and warrants outstanding as of March 31, 2013:

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
 
Weighted
 
 
 
 
 
 
 
 
Average
 
 
 
 
 
 
Number
 
 
Average
 
 
 
 
 
Number
 
 
Exercise
 
 
 
 
 
 
Outstanding
 
 
Remaining
 
 
Weighted
 
 
Exercisable
 
 
Price
 
 
 
 
 
 
As of
 
 
Contractual
 
 
Average
 
 
As of
 
 
As of
 
Range of
 
 
March 31,
 
 
Term
 
 
Exercise
 
 
March 31,
 
 
March 31,
 
Exercise Prices
 
 
2013
 
 
(in years)
 
 
Price
 
 
2013
 
 
2013
 
2.90
 
6.00
 
 
 
164,329
 
 
 
9.31
 
 
$
3.81
 
 
 
51,244
 
 
$
3.73
 
6.25
 
11.70
 
 
 
45,358
 
 
 
5.64
 
 
 
11.50
 
 
 
45,358
 
 
 
11.50
 
17.80
 
28.10
 
 
 
39,269
 
 
 
4.47
 
 
 
21.63
 
 
 
39,244
 
 
 
21.63
 
34.20
 
61.80
 
 
 
14,006
 
 
 
2.18
 
 
 
43.95
 
 
 
13,998
 
 
 
43.95
 
61.94
 
151.94
 
 
 
854
 
 
 
1.44
 
 
 
89.52
 
 
 
832
 
 
 
89.52
 
152.21
 
285.00
 
 
 
58
 
 
 
0.54
 
 
 
174.00
 
 
 
46
 
 
 
174.00
 
286.72
 
300.27
 
 
 
2
 
 
 
0.00
 
 
 
-
 
 
 
-
 
 
 
-
 
2.90
 
300.27
 
 
 
263,876
 
 
 
7.55
 
 
$
10.23
 
 
 
150,722
 
 
$
14.99
 
 
Valuation Assumptions to Estimate the Fair Value of Options granted

The Company used the following valuation assumptions to estimate the fair value of options granted for the years ended March 31, 2013 and 2012, respectively:

 STOCK OPTIONS:
2013
2012
Expected life (years)
6.0
6.0
Volatility
156.8%
154.9%
Risk-free interest rate
0.65%
1.04%
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, 2013:
 
Number
 
 
Weighted Average
 
 
of
 
 
Grant Date
 
 
Shares
 
 
Fair Value
 
Balance March 31, 2012
 
 
236,541
 
 
$
2.11
 
Granted
 
 
318,417
 
 
$
3.84
 
Forfeited
 
 
(279,760
 )
 
$
3.51
 
Released
 
 
(27,740
 )
 
 
 
 
Vested
 
 
(63,554
 )
 
$
2.73
 
Balance, March 31, 2013
 
 
183,904
 
 
$
2.67