STOCK OPTION PLANS, SHARES RESERVED AND WARRANTS (Tables)

9 Months Ended

Dec. 31, 2014

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

The following summarizes the stock option activity for the transition period ended December 31, 2014 and fiscal year ended March 31, 2014 below:

	2009 Equity Incentive Plan			Weighted Average Exercise Price		Weighted Average Remaining Contract Life		Non-Plan Stock Options			Weighted Average Exercise Price		Weighted Average Remaining Contract Life
Balance as of April 1, 2013		395,504		$	5.78	8.18 years			5,924		$	701.59	0.60 years
Options Granted		15,000			7.62	9.19 years			—					—
Options Exercised		(5,555	)		3.23		—		—					—
Options Canceled		(327	)		3.23		—		(5,924	)		701.59		—

Balance as of March 31, 2014		404,622		$	5.83	7.26 years			—		$	—		—

Options Granted		935,100			5.29	9.35 years			—			—		—
Options Exercised		—			—		—		—			—		—
Options Canceled		(100,000	)		4.80		—		—			—		—

Balance as of December 31, 2014		1,239,722		$	5.46	8.42 years			—		$	—		—

Exercisable at December 31, 2014		558,117		$	5.47	7.15 years			—		$	—		—

Schedule of reserved shares for issuance

The Company has reserved shares of common stock for issuance upon exercise at December 31, 2014 as follows:

Warrants			2,401,049
2009 Equity Incentive Plan			2,862,620
Total Shares Reserved			5,263,669

Schedule of outstanding warrants

The expiration date of the Old Adamis Warrants was extended three years to November 15, 2015. The following table summarizes warrants outstanding at December 31, 2014:

	Warrant Shares		Exercise Price Per Share	Date Issued	Expiration Date
Old Adamis Warrants	58,824	$	8.50	November 15, 2007	November 15, 2015
Consultant Warrants	635	$	3.40	January 29, 2010	January 25, 2015
Consultant Warrants	17,647	$	3.74	July 11, 2011	July 11, 2016
2013 Private Placement	691,604	$	3.40 - 12.16	June 26, 2013	June 25, 2018
Underwriter Warrants	186,000	$	7.44	December 12, 2013	December 12, 2018
Underwriter Warrants	27,900	$	7.44	January 16, 2014	January 16, 2019
Aug 2014 Preferred Stock Sale	1,418,439		3.40	August 19, 2014	August 19, 2019

Total Warrants	2,401,049

- 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