STOCK BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2015

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		580,000		$	0.670
Forfeited		(1,708,500	)	$	0.952
Outstanding at 3/31/2014		1,355,500		$	1.014	$	329,025	7.32
Granted		50,000		$	0.620
Forfeited		(215,000	)	$	0.730
Outstanding at 3/31/2015		1,190,500		$	1.049	$	21,600	5.18
Vested or expected to vest 3/31/2015		1,190,500		$	1.049	$	21,600		5.18
Exercisable and vested at 3/31/2015		1,078,000		$	1.089	$	21,600		4.90

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		580,000	$	0.670
Forfeited		(607,667)	$	1.191
Vested		(205,334)	$	1.783
Outstanding at 3/31/2014		621,333	$	0.967
Granted		50,000	$	0.620
Forfeited		(219,333)	$	0.875
Vested		(339,500)	$	1.075
Outstanding at 3/31/2015		112,500	$	0.664