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9. Stock Compensation (Tables)

3 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share based compensation expense

		June 30, 2015				June 30, 2014
Vesting of stock options		$	50,711			$	170,887
Incremental fair value of option modifications			–				–
Vesting expense associated with CEO restricted stock grant			–				–
Total stock-based compensation expense		$	50,711			$	170,887
Weighted average number of common shares outstanding – basic and diluted			6,720,484				4,542,253
Basic and diluted loss per common share		$	(0.01	)		$	(0.04	)

Assumptions used

Risk free interest rate	2.6%
Average expected life	10 years
Expected volatility	90.23%
Expected dividends	None

Options vested and expected to vest

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term in Years
Vested			428,057			$	11.66				5.04
Expected to vest			67,633			$	6.01				8.22
Total			495,690

Option activity

		Amount				Range of Exercise Price				Weighted Average Exercise Price
Stock options outstanding at March 31, 2015			501,690				$4.00-$20.50			$	12.50
Exercised			–				–				–
Granted			–				–				–
Cancelled/Expired			(6,000	)			$20.50			$	20.50
Stock options outstanding at June 30, 2015			495,690				$4.00-$20.50			$	10.89
Stock options exercisable at June 30, 2015			428,057				$4.00-$20.50			$	11.66

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 718



-SubTopic 10



-Section 50



-Paragraph 2



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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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Tabular disclosure of the following for fully vested share options (or share units) and share options expected to vest at the date of the latest statement of financial position: the number, weighted-average exercise price (or conversion ratio), aggregate intrinsic value (except for nonpublic entities), and weighted-average remaining contractual term of options (or share units) currently exercisable (or convertible).

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