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Stock Options (Tables) | 9 Months Ended
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Dec. 31, 2012
Stock Options [Abstract] |
Summary of Black-Scholes option pricing model assumptions used to derive weighted average fair value of stock options granted | The table below summarizes the Black-Scholes option pricing model assumptions used to derive the weighted average fair value of the stock options granted during the periods noted.
|  | Nine Months Ended |
|  | December 31, |
|  | 2012 |  |  | 2011 |
Weighted average risk free interest rate |  |  | 1.16 | % |  |  | 2.30 | %
Weighted average expected holding period (years) |  |  | 6.60 |  |  |  | 6.15 |
Weighted average expected volatility |  |  | 44.25 | % |  |  | 39.02 | %
Weighted average expected dividend yield |  |  | - |  |  |  | - |
Weighted average fair value of options granted |  | $ | 2.92 |  |  | $ | 5.95 |
Summary of stock option transactions | A summary of stock option transactions for the nine months ended December 31, 2012 follows:
|  | Number of |  |  | Weighted Average |
|  | Shares |  |  | Exercise Price |
Outstanding at March 31, 2012 |  |  | 1,462,284 |  |  | $ | 9.15 |
Granted |  |  | 632,800 |  |  | $ | 6.47 |
Exercised |  |  | (26,500 | ) |  | $ | 2.75 |
Cancelled |  |  | - |  |  | $ | - |
Outstanding at December 31, 2012 |  |  | 2,068,584 |  |  | $ | 8.41 |
Summary of changes in the status of non-vested stock options | A summary of changes in the status of non-vested stock options during the nine months ended December 31, 2012 is presented below:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Non-vested at March 31, 2012 |  |  | 15,000 |  |  | $ | 4.18 |
Granted |  |  | 632,800 |  |  | $ | 2.92 |
Vested |  |  | (227,399 | ) |  | $ | 2.97 |
Non-vested at December 31, 2012 |  |  | 420,401 |  |  | $ | 2.94 |

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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