8. RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2016

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

8. RELATED PARTY TRANSACTIONS

On April 7, 2015, the Board of Directors approved grants of additional options to purchase a total of 240,374 shares of the Company’s common stock, with an exercise price of $6.38, of which options to purchase 87,437 shares were granted to Phillip Sassower, the Company’s Chairman and Chief Executive Officer, and options to purchase 27,937 shares were granted to Andrea Goren, a member of the Board of Directors.  The options vested after one year, and have a term of seven and one half years from the date of the grant.

During the periods ended September 30, 2015, each member of the Board of Directors was paid a quarterly fee in the amount of $2.5 and an additional fee to each member of the Board of Director’s audit committee and compensation committee in the amount of $1 per quarter for each committee on which such member served. On June 15, 2016, the Board of Directors approved an increase in the quarterly fee to $6 per quarter and an increase in the quarterly committee fee to $2 for each committee on which such member serves, up to a maximum of two committees. General administration expense includes an expense of $54 and $21 for the three months ended September 30, 2016 and 2015, and $102 and $42 for the six month ended September 30, 2016 and 2015, respectively, relating to these fees.

The Board of Directors has approved payments to SG Phoenix LLC, an affiliate of the Company, of an annual fee of $287.5 for services rendered, to include compensation of the Company’s Chief Executive Officer.  General administration expense includes an expense of $72 and $72 for the three months ended September 30, 2016 and 2015, respectively, and $144 and $144 for the six month ended September 30, 2016 and 2015, respectively for these fees.

During the six months ended September 30, 2016 and 2015, the Company purchased approximately $1 and $106 in components for the Company’s tablet PCs from Ember Industries, Inc., a contract manufacturer.  Thomas F. Leonardis, a member of the Board of Directors, is the Chief Executive Officer and the majority shareholder of Ember Industries.  The Company purchased the components from Ember Industries pursuant to standard purchase orders at Ember Industries’ standard prices.  The disinterested members of the Board of Directors reviewed, approved and ratified the Company’s purchase of component parts from Ember Industries on the described terms.  As of September 30, 2016, the Company did not owe Ember Industries any amount for purchases of such components.