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Description of Stock Plans (Tables)
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3 Months Ended |
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Jun. 30, 2014
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| Exercise Price for Options Outstanding and Options Exercisable |
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Options Outstanding |
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Options Exercisable |
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| Exercise Price |
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Life (Years) |
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|
Number of
Shares |
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|
Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Life (Years) |
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$2.50 - 2.75
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1,161,000 |
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$ |
2.60 |
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9.34 |
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60,167 |
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$ |
2.75 |
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9.26 |
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$2.76 - 2.85
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424,468 |
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$ |
2.83 |
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9.26 |
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30,558 |
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$ |
2.83 |
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9.26 |
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$3.85
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113,900 |
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$ |
3.85 |
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9.09 |
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34,608 |
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$ |
3.85 |
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9.09 |
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$4.00
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233,135 |
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$ |
4.00 |
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8.90 |
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78,330 |
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$ |
4.00 |
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8.90 |
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$4.05 - 4.10
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90,500 |
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$ |
4.06 |
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9.11 |
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26,977 |
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$ |
4.06 |
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8.97 |
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$4.23 - 4.5
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585,667 |
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$ |
4.42 |
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9.14 |
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141,667 |
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$ |
4.50 |
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8.95 |
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$4.65
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60,000 |
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$ |
4.65 |
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8.74 |
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25,000 |
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$ |
4.65 |
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8.74 |
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2,668,670 |
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397,306 |
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| Stock Compensation Expense |
Total stock compensation expense for the Company’s 2007 Plan
and 2011 Plan, which includes both stock options and restricted
stock is included in the following statements of operations
components. Please see Note 13 regarding restricted stock:
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Three Months Ended
June 30, 2014 |
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Three Months Ended
June 30, 2013 |
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Product development
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$ |
— |
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$ |
— |
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Sales and marketing
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— |
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— |
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General and administrative
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894 |
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147 |
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$ |
894 |
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$ |
147 |
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2011 Equity Incentive Plan
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| Summary of Options Granted |
The following table summarizes options granted under the 2011 Plan
for the periods or as of the dates indicated:
Options
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Number of
Shares |
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Weighted Average
Exercise Price |
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Weighted Average
Remaining Contractual
Life (in years) |
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Aggregate Intrinsic
Value |
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Outstanding, March 31, 2013
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60,000 |
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$ |
4.65 |
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9.99 |
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$ |
— |
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Granted
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2,840,000 |
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$ |
3.33 |
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— |
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Forfeited/Canceled
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(151,860 |
) |
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$ |
3.96 |
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— |
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Exercised
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— |
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$ |
— |
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— |
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Outstanding, March 31, 2014
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2,748,140 |
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$ |
3.32 |
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9.46 |
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$ |
2,080 |
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Granted
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— |
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$ |
— |
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— |
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Forfeited/Canceled
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— |
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$ |
— |
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— |
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Exercised
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(79,470 |
) |
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$ |
3.92 |
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— |
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Outstanding, June 30, 2014
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2,668,670 |
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$ |
3.31 |
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9.21 |
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$ |
2,056 |
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Vested and expected to vest at June 30, 2014
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1,956,688 |
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$ |
3.39 |
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9.19 |
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$ |
1,384 |
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Exercisable, June 30, 2014
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397,306 |
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$ |
3.93 |
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9.01 |
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$ |
110 |
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2007 Employee, Director and Consultant Stock Plan equity compensation plan
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| Summary of Options Granted |
The following table summarizes options granted under the 2007 Plan
for the periods or as of the dates indicated:
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Number of
Shares |
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Weighted Average
Grant Date
Fair Value |
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Outstanding at March 31, 2013
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959,670 |
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$ |
9.00 |
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Granted
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— |
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$ |
— |
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Vested
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— |
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$ |
— |
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Exercised
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(240,000 |
) |
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$ |
9.59 |
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Outstanding at March 31, 2014
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719,670 |
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$ |
11,58 |
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Granted
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— |
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$ |
— |
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Vested
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|
— |
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$ |
— |
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Exercised
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— |
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$ |
— |
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Outstanding at June 30, 2014
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719,670 |
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$ |
11,58 |
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