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Stockholders' Equity (Tables)
12 Months Ended
Mar. 31, 2017
Stockholders' Equity Note [Abstract]  
Schedule of Nonvested Share Activity
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
 
 
 
 
 
 
 
 
 
Grant Date
 
 
 
Shares
 
(In Years)
 
Intrinsic Value
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Unvested or unlapsed shares at April 1, 2015
 
 
12,222
 
 
0.3
 
$
0.50
 
$
4.10
 
Granted
 
 
-
 
 
-
 
 
-
 
 
-
 
Vested/lapsed
 
 
(12,222)
 
 
-
 
 
-
 
 
-
 
Forfeited
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Unvested or unlapsed shares at March 31, 2016 and 2017
 
 
-
 
 
-
 
 
-
 
 
-
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table presents details of the assumptions used to calculate the weighted-average grant date fair value of common stock options granted by the Company:
 
 
 
Years Ended
 
 
 
March 31,
 
 
March 31,
 
 
 
2017
 
 
2016
 
Expected term (in years)
 
 
4.6 – 6.0
 
 
 
6.0
 
Expected volatility
 
 
  126.42 -136.04
%
 
 
133
%
Risk-free interest rate
 
 
0.75 – 1.06
%
 
 
1.31 – 1.94
%
Expected dividends
 
$
-
 
 
$
-
 
Weighted-average grant date fair value per share
 
$
3.92
 
 
$
4.75
 
Stock Option Transactions Under Stock Option Plans
Stock option activity is summarized below:
 
 
 
 
 
Weighted-Average
 
Weighted-Average
 
Weighted-Average
 
 
 
 
 
Per Share
 
Remaining Life
 
Per Share
 
 
 
Option Shares
 
Exercise Price
 
(Years)
 
Intrinsic Value
 
 
 
 
 
 
 
 
 
 
Balance, April 1, 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
 
Granted
 
 
149,200
 
 
4.78
 
 
-
 
 
-
 
Cancelled/expired
 
 
(48,000)
 
 
6.75
 
 
-
 
 
-
 
Exercised
 
 
-
 
 
-
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Balance, March 31, 2017
 
 
1,165,350
 
$
4.24
 
 
6.64
 
$
4.86
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Vested and exercisable, March 31, 2017
 
 
1,028,043
 
$
4.07
 
 
6.36
 
$
5.25
 
Summary of Restricted Stock Award
The following table summarizes the restricted stock award in the ACO Plan:
 
 
 
 
 
Weighted-Average
 
Weighted-Average
 
 
 
 
 
Remaining
 
Per Share Fair
 
 
 
 
 
Vesting Life
 
Value
 
 
 
Shares
 
(Years)
 
 
 
 
 
 
 
 
 
 
 
Balance, April 1, 2015
 
 
3,752,000
 
 
0.8
 
$
0.03
 
Granted
 
 
184,000
 
 
-
 
 
0.77
 
Released
 
 
(183,996)
 
 
-
 
 
0.03
 
 
 
 
 
 
 
 
 
 
 
 
Balance, March 31, 2016
 
 
3,752,004
 
 
-
 
 
0.07
 
Granted
 
 
-
 
 
-
 
 
-
 
Released
 
 
(32,000)
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
Balance, March 31, 2017
 
 
3,720,004
 
 
-
 
$
0.07
 
 
 
 
 
 
 
 
 
 
 
 
Vested and exercisable, end of year
 
 
3,720,004
 
 
-
 
$
0.07
 
Total Unrecognized Compensation Costs Related To Non-Vested Stock-Based Compensation Arrangements
As of March 31, 2017, total unrecognized compensation costs related to non-vested stock-based compensation arrangements granted under the Company’s 2010, 2013 and 2015 Equity Plans, are as follows:
 
Common stock options
 
$
435,739
 
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,
 
 
 
2017
 
2016
 
 
 
 
 
 
 
Stock-based compensation expense:
 
 
 
 
 
 
 
Cost of services
 
$
4,906
 
$
4,959
 
General and administrative
 
 
1,101,548
 
 
1,099,017
 
 
 
 
 
 
 
 
 
 
 
$
1,106,454
 
$
1,103,976
 
Warrants Outstanding
Warrants consisted of the following:
 
 
 
Weighted-Average
 
 
 
 
 
 
Per Share
 
Number of
 
 
 
Intrinsic Value
 
Warrants
 
 
 
 
 
 
 
 
Outstanding at April 1, 2015
 
$
0.46
 
 
914,500
 
Granted
 
 
-
 
 
1,676,666
 
Exercised
 
 
-
 
 
(500,000)
 
Cancelled
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
Outstanding at March 31, 2016
 
 
3.12
 
 
2,091,166
 
Granted
 
 
-
 
 
29,000
 
Exercised
 
 
4.87
 
 
(150,000)
 
Cancelled
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
Outstanding at March 31, 2017
 
$
4.68
 
 
1,970,166
 
 
 
 
 
 
 
Weighted
 
 
 
Weighted
 
 
 
 
 
 
Average
 
 
 
Average
 
Exercise Price Per
 
Warrants
 
Remaining
 
Warrants
 
Exercise Price Per
 
Share
 
Outstanding
 
Contractual Life
 
Exercisable
 
Share
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$4.00-$5.00
 
 
188,500
 
 
0.85
 
 
169,500
 
$
4.47
 
 
$9.00-$10.00
 
 
1,781,666
 
 
3.54
 
 
1,781,666
 
 
9.37
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$1.15-$10.00
 
 
1,970,166
 
 
3.28
 
 
1,951,166
 
$
8.90
 
Amount of Shares of Common Stock Reserved
The amount of shares of common stock reserved for these purposes is as follows at March 31, 2017:
 
Common stock issued and outstanding
 
 
6,033,518
 
Warrants outstanding
 
 
1,970,166
 
Stock options outstanding
 
 
1,165,350
 
Shares issuable upon conversion of convertible note
 
 
499,000
 
Preferred stock
 
 
1,666,666
 
 
 
 
 
 
 
 
 
11,334,700