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Stockholders' Equity (Tables)

6 Months Ended

Sep. 30, 2014

Stockholders' Equity Note [Abstract]

A summary of the Company’s restricted stock sold to employees, directors and consultants with a right of repurchase of unlapsed or unvested shares is as follows for the six months ended September 30, 2014:

			Weighted Average Remaining Vesting		Weighted Average Per Share		Weighted- average Per Share
			Life		Intrinsic		Grant Date
	Shares		(In years)		Value		Fair Value
Unvested or unlapsed shares, beginning of period		907,407		1.3	$	-	$	0.41
Granted		-		-		-		-
Vested / lapsed		(611,111)		-		-		-
Forfeited		-		-		-		-
Unvested or unlapsed shares, end of period		296,296		1.1	$	0.06	$	0.41

Stock Option Transactions Under Stock Option Plans

Stock option activity for the six months ended September 30, 2014 is summarized below:

	Shares		Weighted Average Per Share Exercise Price		Weighted Average Remaining Life (Years)		Weighted Average Per Share Intrinsic Value
Balance, beginning of period		6,287,000	$	0.20		8.7	$	0.11
Granted		565,000		1.00		-		-
Cancelled		(100,000)		-		-		-
Exercised		-		-		-		-
Expired		-		-		-		-
Forfeited		-		-		-		-
Balance, end of period		6,752,000	$	0.22		8.2	$	0.24
Vested and exercisable, end of period		6,145,889	$	0.21		7.5	$	0.26

Summary of Restricted Stock Award

The following table summarizes the restricted stock award in the ACO Plan during the six months ended September 30, 2014:

	Shares		Weighted Average Remaining Vesting Life (Years)		Weighted Average Per Share Intrinsic Value		Weighted Average Per Share Fair Value
Balance, beginning of period		3,752,000		0.8	$	0.02	$	0.03
Granted		112,000		-		-		0.78
Released		(183,996)		-		-		-
Balance, end of period		3,680,004		0.6	$	0.73	$	0.05
Vested and exercisable, end of period		2,461,694

Total Unrecognized Compensation Costs Related To Non-Vested Stock-Based Compensation Arrangements

As of September 30, 2014, total unrecognized compensation costs related to non-vested stock-based compensation arrangements granted under the Company’s 2010 and 2013 Equity Plans, and the ACO Plan’s and the weighted-average period of years expected to recognize those costs are as follows:

Common stock options	$	198,195
Restricted stock	$	139,400
ACO Plan restricted stock	$	57,179

Summary of Stock Based Compensation Expense Related To Restricted Stock and Option Awards

Stock-based compensation expense related to common stock and common stock option awards is recognized over their respective vesting periods and was included in the accompanying condensed consolidated statement of operations as follows:

	Three Months Ended September 30,				Six Months Ended September 30,
	2014		2013		2014		2013
Stock-based compensation expense:
Cost of services	$	(17,822)	$	86,630	$	10,921	$	575,509
General and administrative		874,341		482,078		964,737		1,545,503
	$	856,519	$	568,708	$	975,658	$	2,121,012

Warrants Outstanding

Warrants consisted of the following for the six months ended September 30, 2014:

	Weighted Average Per Share
	Intrinsic		Number of
	Value		warrants
Outstanding, beginning of period	$	0.02		7,145,000
Granted		-		2,000,000
Exercised		-		-
Cancelled		-		-
Outstanding, end of period	$	-		9,145,000

				Weighted
				average				Weighted
	Exercise Price Per	Warrants		remaining		Warrants		average
	Share	outstanding		contractual life		exercisable		exercise price per share
$	0.11485		1,250,000		1.8		1,250,000	$	0.1149

$	0.11485		250,000		1.8		250,000	$	0.1149

$	0.45000		500,000		1.8		500,000	$	0.4500

$	0.50000		100,000		3.1		100,000	$	0.5000

$	0.45000		825,000		3.3		825,000	$	0.4500

$	0.40000		220,000		3.3		220,000	$	0.4000

$	1.00000		2,000,000		6.5		2,000,000	$	1.0000

$	2.00000		2,000,000		6.5		2,000,000	$	1.0000

$	1.00000		1,000,000		6.5		1,000,000	$	1.0000

$	1.00000		1,000,000		3.8		1,000,000	$	1.0000
			9,145,000		4.8		9,145,000		0.9700

Amount of Shares of Common Stock Reserved

The amount of shares of common stock reserved for these purposes is as follows at September 30, 2014:

Common stock issued and outstanding		49,134,549
Conversion of 9% Notes		2,750,000
Conversion of 8% Notes		2,000,000
Warrants outstanding		9,145,000
Stock options outstanding		6,752,000
Remaining shares issuable under 2013 Equity Incentive Plan		1,900,000
		71,681,549

- 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