XML 23 R7.htm IDEA: XBRL DOCUMENT

Recent Developments	9 Months Ended
Dec. 31, 2012
Recent Developments [Abstract]
Recent Development [Text Block]	*Recent Developments* The New York City Department of Education (the “NYCDOE”) created a new system of awarding contracts which stipulated a hierarchy of approved providers that modified the previous method of referring cases to providers. Although we were awarded a new contract, we did not receive a priority designation under such hierarchy system. Since the new contract became effective, we have experienced a significant decrease in the number of cases referred to us for services. Revenues and operating margins declined during the quarter ended December 31, 2012 compared to prior quarters and we anticipate that this decline will continue into our fourth quarter and beyond. On October 1, 2012, we received a deficiency letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that for the prior 30 consecutive business days our common stock had a closing bid price below the $1.00 minimum closing bid required for continued listing as set forth in Nasdaq Listing Rule 5550(a)(2). We were provided a grace period of 180 calendar days, or until April 8, 2013, to regain compliance with this requirement. At this time, we are currently exploring all available options, including, without limitation, voluntarily delisting with Nasdaq, if we cannot regain compliance with the minimum closing bid price rule by April 8, 2013.

Recent Developments

9 Months Ended

Dec. 31, 2012

Recent Developments

The New York City Department of Education (the “NYCDOE”) created a new system of awarding contracts which stipulated a hierarchy of approved providers that modified the previous method of referring cases to providers. Although we were awarded a new contract, we did not receive a priority designation under such hierarchy system. Since the new contract became effective, we have experienced a significant decrease in the number of cases referred to us for services. Revenues and operating margins declined during the quarter ended December 31, 2012 compared to prior quarters and we anticipate that this decline will continue into our fourth quarter and beyond.

On October 1, 2012, we received a deficiency letter from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that for the prior 30 consecutive business days our common stock had a closing bid price below the $1.00 minimum closing bid required for continued listing as set forth in Nasdaq Listing Rule 5550(a)(2). We were provided a grace period of 180 calendar days, or until April 8, 2013, to regain compliance with this requirement. At this time, we are currently exploring all available options, including, without limitation, voluntarily delisting with Nasdaq, if we cannot regain compliance with the minimum closing bid price rule by April 8, 2013.