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Stockholders' Equity (Tables)

12 Months Ended

Mar. 31, 2016

Stockholders' Equity Note [Abstract]

A summary of the Company’s restricted stock issued to employees, directors and consultants with a right of repurchase of unlapsed or unvested shares is as follows:

	Weighted-Average Remaining Vesting Life				Weighted-Average Per Share
	Shares		(In Years)		Intrinsic Value		Grant Date Fair Value

Unvested or unlapsed shares at April 1, 2014		90,741		1.3	$	-	$	4.10
Granted		-		-		-		-
Vested/lapsed		(78,519)		-		-		-
Forfeited		-		-		-		-

Unvested or unlapsed shares at March 31, 2015		12,222		0.3		0.50		4.10
Granted		-		-		-		-
Vested/lapsed		(12,222)		-		-		-
Forfeited		-		-		-		-

Unvested or unlapsed shares at March 31, 2016		-		-		-		-

Stock Option Transactions Under Stock Option Plans

Stock option activity is summarized below:

	Shares		Weighted-Average Per Share Exercise Price		Weighted-Average Remaining Life (Years)		Weighted-Average Per Share Intrinsic Value

Balance, April 1, 2014		628,700	$	2.00		8.70	$	1.10
Granted		162,000		10.00		-		-
Cancelled/expired		(14,200)		-		-		-
Exercised		-		-		-		-

Balance, March 31, 2015		776,500		4.69		7.40		1.50
Granted		374,150		5.97		-		-
Cancelled/expired		(86,500)		2.63		-		-
Exercised		-		-		-		-

Balance, March 31, 2016		1,064,150	$	4.27		7.94	$	2.27

Vested and exercisable, March 31, 2016		814,802	$	2.67		6.99	$	3.84

Summary of Restricted Stock Award

The following table summarizes the restricted stock award in the ACO Plan:

	Shares		Weighted-Average Remaining Vesting Life (Years)		Weighted-Average Per Share Fair Value

Balance, April 1, 2014		3,752,000		0.8	$	0.03
Granted		184,000		-		0.77
Released		(183,996)		-		0.03

Balance, March 31, 2015		3,752,004		0.1		0.07
Granted		-		-		-
Released		-		-		-

Balance, March 31, 2016		3,752,004		-	$	0.07

Vested and exercisable, end of year		3,752,004		-	$	0.07

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

As of March 31, 2016, 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 Plans are as follows:

Common stock options	$	1,143,280
Restricted stock	$	-
ACO Plan restricted stock	$	-

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 consolidated statement of operations as follows:

	For The Years Ended March 31,
	2016		2015

Stock-based compensation expense:
Cost of services	$	4,959	$	13,376
General and administrative		1,099,017		1,245,472

	$	1,103,976	$	1,258,848

Warrants Outstanding

Warrants

Warrants consisted of the following:

	Weighted-Average Per Share Intrinsic Value		Number of Warrants

Outstanding at April 1, 2014	$	0.20		714,500
Granted		-		200,000
Exercised		-		-
Cancelled		-		-

Outstanding at March 31, 2015		0.46		914,500
Granted		-		1,676,666
Exercised		-		(500,000)
Cancelled		-		-

Outstanding at March 31, 2016	$	3.12		2,091,166

				Weighted				Weighted
				Average				Average
Exercise Price Per		Warrants		Remaining		Warrants		Exercise Price Per
Share		Outstanding		Contractual Life		Exercisable		Share

	$1.15		150,000		0.33		150,000	$	0.08
	$4.00-$5.00		164,500		1.36		164,500		0.35
	$9.00-$10.00		1,776,666		4.54		1,776,666		7.96

	$1.15-$10.00		2,091,166		3.99		2,091,166	$	8.39

Amount of Shares of Common Stock Reserved

The amount of shares of common stock reserved for these purposes is as follows at March 31, 2016:

Common stock issued and outstanding		5,876,852
Warrants outstanding		2,091,166
Stock options outstanding		1,064,150
Preferred stock		1,666,666

		10,698,834

- 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