	9.	EQUITY


(In thousands)	December 31, 2015			March 31, 2015
Common stock, $.0001 par value: 250,000 authorized; 57,301 issued and 56,837 outstanding at December 31, 2015, 57,301 and 57,301 issued and outstanding at March 31, 2015, respectively	$	6		$	6
Additional paid-in capital		135,319			135,440
Accumulated deficit		(14,906	)		(35,046	)
Accumulated other comprehensive income		8,930			11,526
Noncontrolling shareholders' contribution receivable		(3,735)			0
Total common stockholders' equity		125,614			111,926
Noncontrolling interest		3,585			2,643
Total equity	$	129,199		$	114,569

On September 10, 2015, our board of directors approved a share repurchase program authorizing the repurchase of up to an aggregate amount of $20,000,000 of our common stock from time to time through September 10, 2016. Under the program, shares may be repurchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act. Following the approval, we entered into a Rule 10b5-1 trading plan under the Exchange Act permitting open market repurchases of our common stock based on certain triggers described in the trading plan. During the three months ended December 31, 2015, we repurchased 352,000 shares of our common stock under the Rule 10b5-1 trading plan at an aggregate cost of $1.8 million, which was paid for through cash on hand. As of December 31, 2015, we have $17.6 million available for stock repurchases under our board approved stock repurchase program through September 10, 2016. The share repurchase program had automatically terminated due to our public announcement of receiving a non-binding proposal letter, dated January14, 2016, from Mr. Liang Zhang, Chairman and CEO of the Company, and an affiliated entity of his, proposing a "going-private" transaction. For detail, please refer to 8-K filed on January 15, 2016.

30% of the equity interest of a subsidiary of the Company, Meitek Technology (Qingdao) Co., Ltd. ("Meitek"), was held by three individuals, who are also Meitek's management. In December 2015, the company and three individual undertook a restructuring of the noncontrolling interest of Meitek, whereby the Company repurchased the 30% interest from these three individuals for a cash consideration $1.5 million, which is determined as 30% of the fair value of Meitek at $12.7 million, less 30% of the registered capital of Meitek. Subsequently, in December 2015, the Company sold the 30% equity interest for a total cash consideration of $3.8 million, to Qingdao Boda Fanglue Trading Co., Ltd. (17%) and Qingdao Shuofeng Equity Investment Management Limited Partnership Enterprise (13%), which both entities are ultimately controlled by employees of the Company. The cash consideration is based on 30% of the fair value of Meitek, which is determined by an independent valuation firm. As a result of the restructuring, an additional contribution of $3.8 million was injected by the new noncontrolling shareholders and recorded under "Additional paid in capital" and "Noncontrolling shareholders' contribution receivable" as of December 31, 2015. The cash consideration was subsequently collected by the Company in January 2016.