STOCK BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2014

STOCK BASED COMPENSATION

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

	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	120,000		$	0.820
Forfeited	(51,666	)	$	1.150
Exercised	—		—
Outstanding at 3/31/2013	2,484,000		$	1.027	$	776,475	9.07
Granted	580,000		$	0.670
Forfeited	(1,708,500	)	$	0.952
Outstanding at 3/31/2014	1,355,500		$	1.014	$	329,025	7.32
Vested or expected to vest 3/31/2014	1,355,500		$	1.014	$	329,025	7.32
Exercisable at 3/31/2014	734,167		$	1.055	$	189,525	5.98

Summary of status of stock options outstanding but not vested

	Number of Options		Weighted Average
Outstanding at 3/31/2012	1,489,000		$	1.205
Granted	120,000		$	0.820
Forfeited	(51,666	)	$	1.150
Vested	(703,000	)	$	1.090
Outstanding at 3/31/2013	854,334		$	1.249
Granted	580,000		$	0.670
Forfeited	(607,667	)	$	1.191
Vested	(205,334	)	$	1.783
Outstanding at 3/31/2014	621,333		$	0.967