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Stock-based Compensation
 6 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-based Compensation

4. Stock-based Compensation

 

The Company recognized compensation expense of $13,085 and $30,648 in general and administrative expense in the Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015, respectively. Compensation expense recognized for the six months ended September 30, 2016 and 2015 was $31,686 and $71,897, respectively. The total cost related to non-vested awards not yet recognized at September 30, 2016 totals approximately $46,967 which is expected to be recognized over a weighted average of 1.51 years.

 

The following table is a summary of activity of stock options for the six months ended September 30, 2016:

 

    Number
of
Shares		     Weighted
Average
Exercise
Price		     Weighted Average
Remaining Contract
Life in Years		     Aggregate
Intrinsic
Value		  
Outstanding at April 1, 2016     153,600     $ 6.52       6.36     $ -  
Granted     -       -                  
Exercised     -       -                  
Forfeited or Expired     -       -                  
Outstanding at September 30, 2016     153,600     $ 6.52       5.86     $ -  
                                 
Vested at September 30, 2016     124,850     $ 6.48       5.49     $ -  
Exercisable at September 30, 2016     124,850     $ 6.48       5.49     $ -  

 

There were no options granted during the six months ended September 30, 2016 and 2015.

 

Outstanding options at September 30, 2016 expire between August 2020 and August 2024 and have exercise prices ranging from $5.98 to $7.00.