Quarterly report pursuant to sections 13 or 15(d)

Description of Stock Plans (Tables)

v2.4.0.8
Description of Stock Plans (Tables)
 6 Months Ended
Sep. 30, 2013
Summary of Options Granted

The following table summarizes options granted under the Company’s 2011 Equity Incentive Plan for the periods or as of the dates indicated:

Options

 

(in thousands)    Number of
Shares		     Weighted Average
Exercise Price		  

Outstanding at June 30, 2013

      933     $ 4.34   
  

 

 

    

 

 

  

Granted

      121      $ 4.31   

Canceled

      (49 )   $ —    

Forfeited

      —       $ —    

Exercised

      —       $ —    
  

 

 

    

 

 

  

Outstanding at September 30, 2013

      1005      $ 4.31   

Vested and expected to vest at September 30, 2013

      764      $ 4.27   
  

 

 

    

 

 

  

Exercisable at September 30, 2013

      27      $ 4.23   
  

 

 

    

 

 

  
Exercise Price for Options Outstanding and Options Exercisable
Exercise Price    Number of
Shares		     

Weighted

Average

Exercise Price

     

Weighted

Average

Remaining

Life (Years)

      Number of
Shares		     

Weighted

Average

Exercise Price

     

Weighted

Average

Remaining

Life (Years)

  

$3.85

      121       $ 3.85         9.84         5       $ 3.85         9.84   

$4.00

      237       $ 4.00         9.65         —           —           —     

$4.05

      102       $ 4.05         9.64         12       $ 4.05         9.64   

$4.50

      485       $ 4.50         9.70         —         $ —           —     

$4.65

      60       $ 4.65         9.49         10       $ 4.65         9.49   
  

 

 

           

 

 

        
     1,005               27         
  

 

 

           

 

 

        
Summary of Equity Compensation Plan, Nonvested Options

A summary of the status of the Company’s 2007 Employee, Director and Consultant Stock Plan equity compensation plan, nonvested options as of March 31, 2013 and 2012 pursuant to the Plan, and changes during the years ended March 31, 2013 and 2012 is presented below:

Option Plans

 

(in thousands)    Number of
Shares		      Weighted Average
Exercise Price		  

Outstanding at June 30, 2013

      960       $ 9.00   
  

 

 

     

 

 

  

Granted

      —        $ —    

Canceled

      —        $ —    

Forfeited

      —        $ —    

Exercised

      —        $ —    
  

 

 

     

 

 

  

Outstanding at September 30, 2013

      960       $ 9.00   
  

 

 

     

 

 

  
Stock Compensation Expense

Total stock compensation expense for the Company’s 2007 Employee, Director and Consultant Stock Plan equity compensation plan and Amended and Restated 2011 Equity Incentive Plan is included in the following statements of operations components:

 

     Six Months Ended
September, 2013 		     Six Months Ended
September, 2012 		 

Product development

    $ —        $ —    

Sales and marketing

      —          —    

General and administrative

      926         1,713   
  

 

 

     

 

 

  
   $ 926       $ 1,713