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Stock Options (Tables) | 12 Months Ended
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Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of the grant-date fair value of stock options granted and the related assumptions used in the Binomial models for stock options granted |
|  | For the year ended March 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Grant-date fair value |  | $ | 4.75 |  |  |  | - |  |  | $ | 5.69 |
Volatility factor |  |  | 77.01 | % |  |  | - |  |  |  | 85.92 | %
Dividend yield |  |  | - |  |  |  | - |  |  |  | - |
Risk-free interest rate |  |  | 1.74 | % |  |  | - |  |  |  | 1.49 | %
Expected term (in years) |  |  | 10 |  |  |  | - |  |  |  | 7.25 |
Summary of activity of stock options |
|  | Number of Shares |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Aggregate Average Remaining Contract Life in Years |  |  | Intrinsic Value |
Outstanding at March 31, 2011 |  |  | 53,750 |  |  | $ | 5.69 |  |  |  | 7.33 |  |  | $ | 401,200 |
Granted |  |  | 40,000 |  |  |  | 6.80 |  |  |  |  |  |  |  |  |
Exercised |  |  | (10,000 | ) |  |  | 4.00 |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2012 |  |  | 83,750 |  |  | $ | 6.42 |  |  |  | 8.65 |  |  | $ | 127,363 |
Granted |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Exercised |  |  | (3,750 | ) |  |  | 4.35 |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2013 |  |  | 80,000 |  |  | $ | 6.52 |  |  |  | 8.03 |  |  | $ | - |
Granted |  |  | 35,000 |  |  |  | 5.98 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,400 | ) |  |  | 6.29 |  |  |  |  |  |  |  |  |
Forfeited or Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding at March 31, 2014 |  |  | 113,600 |  |  | $ | 6.35 |  |  |  | 7.66 |  |  | $ | 154,062 |
Vested at March 31, 2014 |  |  | 48,600 |  |  | $ | 6.46 |  |  |  | 6.92 |  |  | $ | 60,537 |
Exercisable at March 31, 2014 |  |  | 48,600 |  |  | $ | 6.46 |  |  |  | 6.92 |  |  | $ | 60,537 |
Other information pertaining to option activity |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Weighted average grant-date fair value of stock options granted (per share) |  | $ | 4.75 |  |  | $ | - |  |  | $ | 5.69 |
Total fair value of options vested |  | $ | 261,373 |  |  | $ | 160,125 |  |  | $ | 59,875 |
Total intrinsic value of options exercised |  | $ | 6,244 |  |  | $ | 3,138 |  |  | $ | 38,600 |
Summary information about options outstanding |
Range of Exercise Prices |  |  | Number of Options |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Average Remaining Contract Life in Years |  |  | Aggregate Intrinsic Value |
$ | 5.98 – 6.25 |  |  |  | 45,000 |  |  | $ | 6.00 |  |  |  |  |  |  |
| 6.26 – 6.50 |  |  |  | 28,600 |  |  |  | 6.29 |  |  |  |  |  |  |
| 6.51 – 6.80 |  |  |  | 40,000 |  |  |  | 6.80 |  |  |  |  |  |  |
$ | 5.98 – 6.80 |  |  |  | 113,600 |  |  | $ | 6.35 |  |  |  | 7.66 |  |  | $ | 154,062 |

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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 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph i -Article 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 28 -Article 5 + Details
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- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted 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 (d)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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