Description of Business and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Jun. 30, 2014

Description of Business and Summary of Significant Accounting Policies [Abstract]

Valuation assumptions to estimate the fair value of options

The Company utilized the following valuation assumptions to estimate the fair value of options that were granted for the three month periods ended June 30, 2014 and 2013, respectively.

STOCK OPTIONS:	2014			2013
Expected life (years)		6.0			6.0
Volatility		151.7	%		153.7	%
Risk-free interest rate		1.68	%		1.41	%
Dividend yield		0	%		0	%

Stock option activity

A summary of the stock option activity during the three months ended June 30, 2014 is as follows:

					Weighted-
			Weighted-		Average
			Average		Remaining		Aggregate
			Exercise		Contractual		Intrinsic
	Shares		Price		Term (in Years)		Value
Beginning outstanding		371,759	$	7.89
Granted		11,668	$	3.22
Exercised		--	$	-
Expired		--	$	-
Ending outstanding		383,427	$	7.75		7.42	$	-
Ending vested and expected to vest		383,148	$	7.75		7.42	$	-
Ending exercisable		188,173	$	12.04		5.80	$	-

Stock options outstanding

The following table summarizes information with respect to stock options outstanding as of June 30, 2014:

												Weighted-
						Weighted-						Average
				Number		Average				Number		Exercise
				Outstanding		Remaining		Weighted-		Exercisable		Price
				As of		Contractual		Average		As of		As of
Range of				June 30,		Term		Exercise		June 30,		June 30,
Exercise Prices				2014		(in years)		Price		2014		2014
$	2.90	$	4.50		282,997		8.78	$	3.66		87,743	$	3.77
	6.00		11.70		48,690		4.49		11.12		48,690		11.12
	17.80		28.10		39,244		3.22		21.63		39,244		21.63
	34.20		89.52		12,496		1.18		43.65		12,496		43.65
$	2.90	$	89.52		383,427		7.42	$	7.75		188,173	$	12.04

Unvested RSU activity

The following table summarizes the Company’s unvested RSU activity for the three months ended June 30, 2014:

	Number			Weighted- Average
	of			Grant Date
	Shares			Fair Value
Balance March 31, 2013		129,050		$	2.77
Granted		-		$	-
Released		-		$	-
Vested		(37,250	)	$	2.31
Balance, June 30, 2014		91,800		$	2.96