STOCK BASED COMPENSATION (Tables)

6 Months Ended

Sep. 30, 2012

STOCK BASED COMPENSATION

Summary of stock option activity

	Number Of Options		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding at 3/31/2012	2,415,666		$	1.040	$	107,375	7.71
Granted	50,000		$	0.700
Forfeited	(26,666	)	$	—
Exercised	—		$	—
Outstanding at 9/30/2012	2,439,000		$	1.036	$	400,700	7.30
Vested at 9/30/2012 or expected to vest	2,439,000		$	1.036	$	400,700	7.30
Exercisable at 9/30/2012	1,473,000		$	0.893	$	288,299	5.31

Summary of status of the Company's stock options outstanding but not vested

	Number of Options		Weighted Average Exercise Price
Outstanding at 3/31/2012	1,489,000		$	1.205
Granted	50,000		$	0.700
Forfeited	(10,000	)	$	1.045
Vested	(563,000	)	$	1.071
Outstanding at 9/30/2012	966,000		$	1.255