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Stockholders' Equity (Tables)

3 Months Ended

Jun. 30, 2017

Stockholders' Equity Note [Abstract]

Stock Option Transactions Under Stock Option Plans

Stock option activity for the three months ended June 30, 2017 is summarized below:

			Weighted		Weighted		Weighted
			Average		Average		Average
			Per Share		Remaining		Per Share
			Exercise		Life		Intrinsic
	Shares		Price		(Years)		Value
Balance, March 31, 2017		1,165,350	$	4.24		6.64	$	4.86
Granted		80,000		9.71		-		-
Exercised		-		-		-		-
Cancelled/expired		(32,222)		9.71		-		-
Balance, June 30, 2017		1,213,128	$	4.42		6.61	$	5.57
Vested, June 30, 2017		1,041,257	$	4.04		6.18	$	5.96

Summary of Stock Based Compensation Expense Related To Restricted Stock and Option Awards

Stock-based compensation expense related to common stock option awards is recognized over their respective vesting periods and was included in the accompanying condensed consolidated statement of operations as follows:

	Three Months Ended
	June 30,
	2017		2016
Stock-based compensation expense:
Cost of services	$	-	$	1,227
General and administrative		223,566		246,490
	$	223,566	$	247,717

Warrants Outstanding

Warrants consisted of the following for the three months ended June 30, 2017:

	Weighted
	Average
	Per Share
	Intrinsic		Number of
	Value		Warrants
Outstanding at March 31, 2017	$	4.68		1,970,166
Granted		-		-
Exercised		-		-
Cancelled		-		-
Outstanding at June 30, 2017	$	6.41		1,970,166

			Weighted				Weighted
			Average				Average
Exercise Price Per	Warrants		Remaining		Warrants		Exercise Price Per
Share	Outstanding		Contractual Life		Exercisable		Share

$4.00-$5.00		188,500		0.60		188,500		4.47
$9.00-$10.00		1,781,666		3.30		1,781,666		9.37

$4.00-$10.00		1,970,166		3.03		1,970,166	$	8.90

Amount of Shares of Common Stock Reserved

The number of shares of Common Stock reserved for these purposes is as follows at June 30, 2017:

For warrants outstanding			1,970,166
For stock options outstanding			1,213,128
For debt outstanding and accrued interest			506,547
For preferred stock issued and outstanding			1,666,666

Total			5,356,507

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References + Details