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Description of Stock Plans (Tables)
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6 Months Ended |
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Sep. 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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Weighted
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Weighted
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Weighted
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Weighted
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Average
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Average
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Average
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Average
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Number of
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Exercise
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Remaining
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Number of
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Exercise
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Remaining
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Exercise Price
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Shares
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Price
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Life (Years)
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Shares
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Price
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Life (Years)
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$2.50 - 2.75
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911,000
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$
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2.61
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9.07
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|
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110,167
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$
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2.65
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|
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9.08
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$2.76 - 2.85
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372,836
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$
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2.83
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9.01
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33,180
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$
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2.83
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9.01
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$3.85
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112,302
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$
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3.85
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8.84
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|
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44,146
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$
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3.85
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|
|
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8.84
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$4.00
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714,554
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$
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4.00
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|
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9.52
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85,173
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|
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$
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4.00
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|
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8.75
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$4.05 - 4.11
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589,061
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$
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4.10
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|
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9.64
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|
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34,449
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$
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4.06
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8.75
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$4.23 - 4.5
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579,000
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|
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$
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4.43
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8.88
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|
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152,333
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$
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4.48
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8.75
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$4.65 - $5.89
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110,000
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$
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5.21
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9.16
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30,000
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$
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4.65
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8.49
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3,388,753
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489,448
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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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Six Months Ended
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Six Months Ended
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September 30, 2014
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September 30, 2013
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Product development
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$
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—
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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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2,038
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926
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$
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2,038
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$
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926
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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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Weighted Average
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Number of
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Weighted Average
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Remaining Contractual
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Aggregate Intrinsic
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Shares
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Exercise Price
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Life (in years)
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Value
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Outstanding, March 31, 2013
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60,000
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$
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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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$
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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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)
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$
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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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|
|
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—
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Outstanding, March 31, 2014
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2,748,140
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$
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3.32
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9.46
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$
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2,080
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Granted
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1,119,200
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$
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4.13
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—
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Forfeited/Canceled
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(478,587
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)
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$
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3.10
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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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|
|
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—
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Outstanding, September 30, 2014
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3,388,753
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$
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3.62
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9.22
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$
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3,309
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Vested and expected to vest at September 30, 2014
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2,436,599
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$
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3.65
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9.18
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$
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2,310
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Exercisable, September 30, 2014
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489,448
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$
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3.80
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8.83
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$
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385
|
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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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Weighted Average
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Number of
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Grant Date
|
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Shares
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Fair Value
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Outstanding at March 31, 2013
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959,670
|
|
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$
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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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Exercised
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(240,000
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)
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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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Vested
|
—
|
|
|
—
|
|
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Exercised
|
—
|
|
|
—
|
|
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Outstanding at September 30, 2014
|
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719,670
|
|
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$
|
11.58
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