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7. Stock-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2016

Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]

Weighted-average assumptions of fair value of employee stock options

		Three Months Ended September 30,								Six Months Ended September 30,
		2016				2015				2016				2015
Expected life		9.10 years				5.95 years				7.97 years				6.32 years
Risk-free interest rate			1.49%				1.62%				1.45%				1.66%
Dividend yield			0.00%				0.00%				0.00%				0.00%
Volatility			98%				89%				94%				89%
Fair value of options granted		$	3.64			$	4.25			$	3.68			$	4.40

Employee stock-based compensation expense

		Three Months								Six Months
		Ended								Ended
		September 30,								September 30,
		2016				2015				2016				2015
Cost of service revenue		$	66,000			$	62,000			$	134,000			$	117,000
Research and development			60,000				88,000				124,000				161,000
Selling, general and administrative			280,000				342,000				559,000				626,000
Total stock-based compensation		$	406,000			$	492,000			$	817,000			$	904,000

Plan summary

Plan				Awards Outstanding
	2006 Plan				171,000
	2011 Plan				575,000
					746,000
	Awards available for grant as of September 30, 2016				372,000

Schedule of option activity

		Number of Shares				Weighted- Average Exercise Price				Weighted- Average Contractual Term				Aggregate Intrinsic Value
Outstanding at April 1, 2016			753,000			$	21.47
Options granted			25,000				4.49
Options exercised			–				–
Options forfeited			(15,000	)			7.09
Options expired			(17,000	)			22.68
Outstanding at September 30, 2016			746,000			$	20.59				7.44			$	2
Exercisable at September 30, 2016			544,000			$	24.91				6.99			$	–

Restricted Stock Award Activity

		Number of Shares				Weighted Average Award Date Fair Value per Share
Unvested restricted stock awards outstanding at April 1, 2016			–			$	–
Restricted stock awards granted			9,000				4.47
Restricted stock awards vested			(9,000	)			4.47
Restricted stock awards forfeited			–				–
Unvested restricted stock awards outstanding at September 30, 2016			–			$	–

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

+ 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 (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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-Section 50
-Paragraph 1
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-Name Accounting Standards Codification
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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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.

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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.

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