Equity [Abstract] | Period [Axis] |
---|
2015-04-01 - 2016-03-31 |
---|
Equity [Abstract] | |
Summary of warrant activity |
| |
Fiscal Year Ended
March 31, | |
| |
2016 | | |
2015 | |
| |
Warrants | | |
Weighted Average
Exercise Price | | |
Warrants | | |
Weighted Average
Exercise Price | |
Outstanding, beginning of year | |
| 1,430,738 | | |
$ | 6.84 | | |
| 1,414,190 | | |
$ | 5.00 | |
Granted | |
| 746,657 | | |
$ | 6.30 | | |
| 806,478 | | |
$ | 8.46 | |
Exercised | |
| (12,049 | ) | |
$ | 2.15 | | |
| (590,659 | ) | |
$ | 4.29 | |
Cancelled/Forfeited | |
| (1,252 | ) | |
$ | 2.10 | | |
| (199,271 | ) | |
$ | 7.11 | |
Outstanding, end of year | |
| 2,164,094 | | |
$ | 6.68 | | |
| 1,430,738 | | |
$ | 6.84 | |
Exercisable, end of year | |
| 2,164,094 | | |
$ | 6.68 | | |
| 1,430,738 | | |
$ | 6.84 | |
Weighted average estimated
fair value of warrants granted | |
| | | |
$ | 5.11 | | |
| | | |
$ | 11.83 | |
|
Assumptions used for warrants granted |
| |
Year Ended March 31, | |
| |
2016 | | |
2015 | |
Risk free interest rate | |
| 1.70% | | |
| 0.79%-2.29% | |
Average expected life | |
| 5
years | | |
| 5
to 7 years | |
Expected volatility | |
| 98.6% | | |
| 87.8%
- 107.4% | |
Expected dividends | |
| None | | |
| None | |
|
Summary of warrant activity exercisable and outstanding |
| |
| Warrants
Outstanding | | |
| | | |
| Warrants
Exercisable | |
Range of Exercise Prices | |
| Number Outstanding | | |
| Weighted
Average Remaining Life
(Years) | | |
| Weighted
Average Exercise
Price | | |
| Number Outstanding | | |
| Weighted
Average Exercise
Price | |
$5.00 or Below | |
| 515,533 | | |
| 2.78 | | |
$ | 2.63 | | |
| 515,533 | | |
$ | 2.63 | |
$5.20 - $9.00 | |
| 1,351,632 | | |
| 3.85 | | |
$ | 6.46 | | |
| 1,351,632 | | |
$ | 6.46 | |
$9.65 - $15.00 | |
| 296,929 | | |
| 3.71 | | |
$ | 14.70 | | |
| 296,929 | | |
$ | 14.70 | |
| |
| 2,164,094 | | |
| | | |
| | | |
| 2,164,094 | | |
| | |
|
Summary of the stock options outstanding |
| |
Fiscal Year Ended
March 31, | |
| |
2016 | | |
2015 | |
| |
Options | | |
Weighted
Average
Exercise Price
| | |
Options | | |
Weighted
Average
Exercise Price
| |
Outstanding, beginning of year | |
| 501,690 | | |
$ | 11.00 | | |
| 522,668 | | |
$ | 12.50 | |
Granted | |
| | | |
| N/A
| | |
| 59,453 | | |
$ | 9.50 | |
Exercised | |
| | | |
| N/A
| | |
| (1,000 | ) | |
$ | 9.50 | |
Cancelled/Forfeited | |
| (63,143 | ) | |
$ | 11.45 | | |
| (79,431 | ) | |
$ | 18.76 | |
Outstanding, end of year | |
| 438,547 | | |
$ | 10.94 | | |
| 501,690 | | |
$ | 11.00 | |
Exercisable, end of year | |
| 388,414 | | |
$ | 11.53 | | |
| 418,923 | | |
$ | 12.00 | |
Weighted average estimated
fair value of options granted | |
| | | |
| N/A | | |
| | | |
$ | 9.50 | |
|
Weighted average assumptions used to estimate the fair value information |
Risk free interest rate |
2.60% |
Average expected life |
10 years |
Expected volatility |
90.23% |
Expected dividends |
None |
|
Detail of options outstanding and exercisable by exercise price |
| | | |
| Options
Outstanding | | |
| Options
Exercisable | |
|
Exercise Prices | | |
| Number Outstanding | | |
| Weighted
Average Remaining Life
(Years) | | |
| Weighted
Average Exercise Price | | |
| Number Outstanding | | |
| Weighted
Average Exercise Price | |
| $3.80
- $9.50 | | |
| 190,547 | | |
| 7.70
years | | |
$ | 6.03 | | |
| 140,414 | | |
$ | 5.91 | |
| $12.50 | | |
| 163,000 | | |
| 4.39
years | | |
$ | 12.50 | | |
| 163,000 | | |
$ | 12.50 | |
| $18.00
- $20.50 | | |
| 85,000 | | |
| 2.02
years | | |
$ | 19.03 | | |
| 85,000 | | |
$ | 19.03 | |
| | | |
| 438,547 | | |
| | | |
| | | |
| 388,414 | | |
| | |
|
Schedule of stock-based compensation |
| |
Fiscal Year Ended | |
| |
March 31, 2016 | | |
March 31, 2015 | |
Vesting of stock options | |
$ | 202,844 | | |
$ | 416,481 | |
Total Stock-Based Compensation | |
$ | 202,844 | | |
$ | 416,481 | |
|