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Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Carried at Fair Value on Recurring Basis

The following table provides the assets and liabilities carried at fair value on a recurring basis, measured as of September 30, 2015 and March 31, 2015 (in thousands):

	Total				Quoted Prices in				Significant Other				Significant
	Carrying				Active Markets				Observable Inputs				Unobservable Inputs
	Value				(Level 1)				(Level 2)				(Level 3)
September 30, 2015:
Assets:
Cash equivalents	$	16,016			$	16,016			$	-			$	-
Derivative liabilities:
Warrants	$	1,498			$	-			$	-			$	1,498
	Total				Quoted Prices in				Significant Other				Significant
	Carrying				Active Markets				Observable Inputs				Unobservable Inputs
	Value				(Level 1)				(Level 2)				(Level 3)
March 31, 2015:
Assets:
Cash equivalents	$	12,519			$	12,519			$	-			$	-
Derivative liabilities:
Warrants	$	2,999			$	-			$	-			$	2,999

Schedule of Liabilities Measured at Fair Value on Recurring Basis

The table below reflects the activity for the Company’s major classes of liabilities measured at fair value on a recurring basis (in thousands):

			Warrants
April 1, 2015			$	2,999
Mark to market adjustment				(1,501	)
Balance at September 30, 2015			$	1,498
			Warrants
April 1, 2014			$	2,601
Warrant issuance with equity offering				4,255
Warrant issuance with senior secured term loan				106
Mark to market adjustment				(3,963	)
Balance at March 31, 2015			$	2,999

Schedule of Assets and Liabilities Measured at Fair Value on Non-Recurring Basis

The following table provides the assets and liabilities measured at fair value on a non-recurring basis, as of September 30, 2015.  During the six months ended September 30, 2015 the Company’s investment in Tres Amigas was determined to be no longer recoverable and was fully impaired.  See Note 14, “Minority Investments” for further details:

Total

Quoted Prices in

Significant Other

Significant

Carrying

Active Markets

Observable Inputs

Unobservable Inputs

Value

(Level 1)

(Level 2)

(Level 3)

September 30, 2015:

Assets:

Investment in unconsolidated entity – Tres Amigas

$

-

$

-

$

-

$

-

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 5



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Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 2



-Subparagraph (a),(b)



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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 820



-SubTopic 10



-Section 50



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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