Equity

3 Months Ended

Jun. 30, 2011

Equity [Abstract]

Equity

Note 8. Equity

Common Stock

During the three months ended June 30, 2011, the Company issued 171,428 shares of common stock upon the exercise of warrants at an exercise price of $0.77 per share. During the three months ended June 30, 2011, the Company issued 36,090 shares of common stock upon the cashless exercise of warrants at an average exercise price of $0.77 per share. During the three months ended June 30, 2010, the Company issued 13,636 shares of unrestricted common stock in lieu of fees paid to a consultant for services incurred in fiscal year 2010 pursuant to the Company’s Form S-8 filed on April 27, 2010.

Warrants and Options

During the three months ended June 30, 2011, the Company issued a warrant to purchase 2,500 shares of the Company’s common stock at an exercise price of $1.38 and a five year life to a consultant for services to be rendered over three years. The Company recognized $237 in expense related to these warrants for the period ended June 30, 2011. During the three months ended June 30, 2011, the Company granted stock options to employees and non-employee directors to purchase a total of 400,000 of the Company’s common stock with a weighted average fair value of $1.27 per share (see Note 2).