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6. EQUITY TRANSACTIONS (Tables)
12 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Summary of warrant activity
    Year Ended March 31,  
    2015     2014  
    Warrants     Weighted Average
Exercise Price
    Warrants     Weighted Average
Exercise Price
 
Outstanding, beginning of year     1,414,190     $ 5.00       1,512,946     $ 5.50  
Granted     806,478     $ 8.46       290,610     $ 9.00  
Exercised     (590,659 )   $ 4.29       (254,324   $ 4.00  
Cancelled/Forfeited     (199,271 )   $ 7.11       (135,042 )   $ 5.50  
Outstanding, end of year     1,430,738     $ 6.84       1,414,190     $ 5.00  
Exercisable, end of year     1,430,738     $ 6.84       1,414,190     $ 5.00  
Weighted average estimated fair value of warrants granted           $ 11.83             $ 4.50  
Assumptions used
  Year Ended March 31,
  2015   2014
Risk free interest rate 0.79%-2.29%   1.3%-2.04%
Average expected life 5 to 7 years   5 to 7 years
Expected volatility 87.8% - 107.4%   91.2% - 98.5%
Expected dividends None   None
Summary of warrant activity exercisable and outstanding
    Warrants Outstanding     Warrants Exercisable  

Range of

Exercise Prices

 

Number

Outstanding

   

Weighted Average

Remaining

Life (Years)

   

Weighted Average

Exercise Price

   

Number

Outstanding

   

Weighted Average

Exercise Price

 
$5.00 or Below     528,657       3.77     $ 2.62       528,657     $ 2.62  
$5.20 - $9.00     605,152       4.37     $ 6.66       605,152     $ 6.66  
$9.65 - $15.00     296,929       4.71     $ 14.70       296,929     $ 14.70  
      1,430,738                       1,430,738          
Summary of the stock options outstanding
    Year Ended March 31,  
    2015     2014  
    Options     Weighted Average
Exercise Price
    Options     Weighted Average
Exercise Price
 
Outstanding, beginning of year     522,668     $ 12.50       421,916     $ 14.00  
Granted     59,453     $ 9.50       104,411     $ 4.50  
Exercised     (1,000 )   $ 9.50       (3,659 )   $ 4.00  
Cancelled/Forfeited     (79,431   $ 18.76           $  
Outstanding, end of year     501,690     $ 11.00       522,668     $ 12.50  
Exercisable, end of year     418,923     $ 12.00       449,751     $ 13.50  
Weighted average estimated fair value of options granted           $ 9.50             $ 6.50  
Weighted average assumptions used to estimate the fair value information
  Year Ended March 31,
  2015   2014
Risk free interest rate 2.60%   0.38% to 2.65%
Average expected life 10 years   3 to 10 years
Expected volatility 90.23%   91.05% to 102.67%
Expected dividends None   None
Detail of options outstanding and exercisable
      Options Outstanding     Options Exercisable  
Range of
Exercise Prices
   

Number

Outstanding

   

Weighted Average

Remaining

Life (Years)

   

Weighted Average

Exercise

Price

   

Number

Outstanding

   

Weighted Average

Exercise

Price

 
$4.00 - $9.50       190,547       8.56 years     $ 6.03       107,780     $ 5.56  
$10.50 - $12.50       220,143       4.25 years     $ 11.98       220,143     $ 11.98  
$18.00 - $20.50       91,000       3.05 years     $ 19.13       91,000     $ 19.13  
          501,690                       418,923          
Schedule of stock-based compensation
   March 31, 2015   March 31, 2014 
Vesting of restricted stock grant  $   $64,444 
Incremental fair value of option modifications       1,914 
Vesting of stock options   416,481    541,588 
Total Stock-Based Compensation  $416,481   $607,946