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Stockholders' Equity (Tables)

3 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Stock Option Transactions Under Stock Option Plans

Stock option activity for the three months ended June 30, 2016 is summarized below:

	Shares		Weighted Average Per Share Exercise Price		Weighted Average Remaining Life (Years)		Weighted Average Per Share Intrinsic Value
Balance, March 31, 2016		1,064,150	$	4.27		7.94	$	2.27
Granted		-		-		-		-
Cancelled		-		-		-		-
Exercised		-		-		-		-
Expired		(36,000)		6.49		-		-
Forfeited		-		-		-		-
Balance, June 30, 2016		1,028,150	$	4.19		7.06	$	2.15
Vested, June 30, 2016		861,202	$	3.68		6.78	$	2.56

Summary of Restricted Stock Award

The following table summarizes the restricted stock award in the ACO Plan during the three months ended June 30, 2016:

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

Balance, March 31, 2016		3,752,004		-		0.07
Granted		-		-		-
Released		-		-		-

Balance, June 30, 2016		3,752,004		-	$	0.07

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

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

Stock-based compensation expense related to 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 June 30,
	2016		2015
Stock-based compensation expense:
Cost of services	$	1,227	$	1,227
General and administrative		246,490		82,621
	$	247,717	$	83,848

Warrants Outstanding

Warrants consisted of the following for the three months ended June 30, 2016:

	Weighted Average Per Share
	Intrinsic		Number of
	Value		Warrants
Outstanding at March 31, 2016	$	3.12		2,091,166
Granted		-		-
Exercised		4.46		(115,000)
Cancelled		-		-
Outstanding at June 30, 2016	$	1.79		1,976,166

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

	$1.15		35,000	0.08	35,000	$	1.15
	$4.00-$5.00		164,500	1.11	164,500		4.46
	$9.00-$10.00		1,776,666	4.30	1,776,666		9.37

	$1.15-$10.00		1,976,166	3.96	1,976,166	$	8.82

Amount of Shares of Common Stock Reserved

The amount of shares of common stock reserved for these purposes is as follows at June 30, 2016:

Common stock issued and outstanding		5,998,518
Warrants outstanding		1,976,166
Stock options outstanding		1,028,150
Preferred stock outstanding		1,666,666
		10,669,500

- 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