STOCK BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2013

STOCK BASED COMPENSATION

Summary of information about options for the most recent annual income statements presented

	Number Of		Weighted Average		Aggregate Intrinsic		Weighted Average Remaining Contractual Life
	Options		Exercise Price		Value		(in years)
Outstanding at 3/31/2013	2,484,000		$	1.027	$	776,475	9.07
Granted	400,000		$	0.670	—		—
Forfeited	(1,471,000	)	$	0.952	—		—
Outstanding at 12/31/2013	1,413,000		$	0.979	$	478,650	6.87
Vested or expected to vest 12/31/2013	1,413,000		$	0.979	$	478,650	6.87
Exercisable at 12/31/2013	926,667		$	0.991	$	301,350	4.92

Summary of activity of stock options outstanding but not vested

	Number of Options		Weighted Average
Outstanding at 3/31/2013	854,334		$	1.249
Granted	400,000		$	0.670
Vested	(165,334	)	$	1.120
Forfeited	(602,667	)	$	1.173
Outstanding at 12/31/2013	486,333		$	0.957