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Stockholders’ Equity (Tables)
9 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of analysis of option activity

Options outstanding and exercisable under the 2000 Plan are as follows:

 

 

 

As of December 31, 2022:

 

Range of Prices

 

Options
Outstanding and
Exercisable

 

 

Weighted Average
Remaining Life in
Years

 

 

Weighted Average
Exercise Price

 

 

Aggregate
Intrinsic Value
(In thousands)

 

$1.16 - $7.40

 

 

5,000

 

 

 

2.50

 

 

$

7.40

 

 

$

 

$13.70 - $24.40

 

 

207,037

 

 

 

0.78

 

 

 

14.63

 

 

 

 

 

 

 

212,037

 

 

 

0.82

 

 

$

14.46

 

 

$

 

 

 

 

As of March 31, 2022:

 

Range of Prices

 

Options
Outstanding and
Exercisable

 

 

Weighted Average
Remaining Life in
Years

 

 

Weighted Average
Exercise Price

 

 

Aggregate
Intrinsic Value
(In thousands)

 

$7.40

 

 

5,000

 

 

 

3.25

 

 

$

7.40

 

 

$

 

$14.00 - $24.40

 

 

212,337

 

 

 

1.50

 

 

 

14.65

 

 

 

 

 

 

 

217,337

 

 

 

1.54

 

 

$

14.49

 

 

$

 

Schedule of stock appreciation rights outstanding

 

 

As of December 31, 2022:

 

Range of Prices

 

SARs Outstanding

 

 

Weighted Average
Remaining Life in
Years

 

 

Weighted Average
Exercise Price

 

 

Aggregate
Intrinsic Value
(In thousands)

 

$0.33 - $0.74

 

 

8,650,000

 

 

 

8.61

 

 

$

0.56

 

 

$

 

$1.16 - $1.47

 

 

2,128,277

 

 

 

6.55

 

 

 

1.39

 

 

 

 

$1.71 - $2.10

 

 

2,237,493

 

 

 

8.36

 

 

 

1.92

 

 

 

 

$2.23 - $2.56

 

 

455,583

 

 

 

8.81

 

 

 

2.28

 

 

 

 

 

 

 

13,471,353

 

 

 

 

 

 

 

 

$

 

 

 

 

As of March 31, 2022:

 

Range of Prices

 

SARs Outstanding

 

 

Weighted Average
Remaining Life in
Years

 

 

Weighted Average
Exercise Price

 

 

Aggregate
Intrinsic Value
(In thousands)

 

$0.54 - $0.74

 

 

5,550,000

 

 

 

8.74

 

 

$

0.62

 

 

$

1,208

 

$1.16 - $1.47

 

 

2,283,610

 

 

 

7.90

 

 

 

1.37

 

 

 

 

$1.71 - $2.10

 

 

2,455,738

 

 

 

8.91

 

 

 

1.97

 

 

 

 

$2.23 - $2.56

 

 

604,250

 

 

 

9.60

 

 

 

2.32

 

 

 

 

 

 

 

10,893,598

 

 

 

 

 

 

 

 

$

1,208

 

 

An analysis of all SARs exercisable under the 2017 Plan as of December 31, 2022 is presented below:

 

SARs Exercisable

 

 

Weighted Average
Remaining Life in
Years

 

 

Weighted Average
Exercise Price

 

 

Aggregate
Intrinsic Value
(In thousands)

 

 

5,448,345

 

 

 

7.75

 

 

$

1.13

 

 

$

 

Schedule of SARs outstanding

 

 

 

Nine Months Ended December 31, 2022

 

SARs Outstanding - March 31, 2022

 

 

10,893,598

 

Issued

 

 

3,100,000

 

Forfeited

 

 

(522,245

)

Total SARs Outstanding - December 31, 2022

 

 

13,471,353

 

Schedule of weighted average assumptions used to estimate fair value of SARs

The following weighted average assumptions were used to estimate the fair value of SARs granted as follows:

 

 

 

Nine Months Ended December 31, 2022

 

Expected dividend yield

 

 

 

Expected equity volatility

 

 

111.89

%

Expected term (years)

 

 

6.50

 

Risk-free interest rate

 

 

4.49

%

Exercise price

 

$

0.49

 

Market price per share

 

$

0.49

 

Weighted average fair value per SAR

 

$

0.43

 

Schedule of stock-based compensation expense

 

 

Three Months Ended
December 31,

 

 

Nine Months Ended
December 31,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Selling, general and administrative

 

$

708

 

 

$

1,349

 

 

$

3,906

 

 

$

3,278