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Stock-based Compensation (Tables)

9 Months Ended

Dec. 31, 2013

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

	Nine Months Ended
	December 31
	2013	2012
Grant-date fair value	$ 4.75	-
Volatility factor	77.01%	-
Dividend yield	-	-
Risk-free interest rate	1.74%	-
Expected term (in years)	7	-

Summary of activity of stock options

		Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contract Life in Years		Aggregate Intrinsic Value
Outstanding at March 31, 2013		80,000		$ 6.52		8.03		$ -
	Granted	35,000		5.98
	Exercised	-		-
	Forfeited or Expired	-		-
Outstanding at December 31, 2013		115,000		$ 6.35		7.89		$ 62,900

Vested at December 31, 2013		50,000		$ 6.46		7.15		$ 22,025
Exercisable at December 31, 2013		50,000		$ 6.46		7.15		$ 22,025

Summary information about options outstanding at December 31, 2013

Range of Exercise Prices		Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contract Life in Years		Aggregate Intrinsic Value
$ 5.98 – 6.25		45,000		$ 6.00
6.26 – 6.50		30,000		6.29
6.51 – 6.80		40,000		6.80
$ 5.98 – 6.80		115,000		$ 6.35		7.89		$ 62,900

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.

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