8. Stock-Based Compensation (Tables)

9 Months Ended

Dec. 31, 2015

Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]

Assumptions used

	Three Months				Nine Months
	Ended				Ended
	December 31,				December 31,
	2015		2014		2015		2014
Expected life		7.04 years		5.18 years		6.30 years		8.10 years
Risk-free interest rate		1.90%		1.64%		1.70%		1.97%
Dividend yield		0.00%		0.00%		0.00%		0.00%
Volatility		89%		89%		89%		93%
Fair value of options granted	$	0.95	$	1.32	$	0.88	$	2.21

Employee stock-based compensation expense

	Three Months				Nine Months
	Ended				Ended
	December 31,				December 31,
	2015		2014		2015		2014
Cost of revenue	$	72,000	$	58,000	$	189,000	$	180,000
Research and development		107,000		82,000		268,000		260,000
Selling, general and administrative		374,000		307,000		1,002,000		914,000
Total stock-based compensation	$	553,000	$	447,000	$	1,459,000	$	1,354,000

Schedule of option activity

	Number of Shares			Weighted- Average Exercise Price			Weighted- Average Contractual Term		Aggregate Intrinsic Value
Outstanding at April 1, 2015		2,877,000		$	6.96
Options granted		1,207,000			1.18
Options exercised		–			–
Options forfeited		(68,000	)		(2.94	)
Options expired		(318,000	)		(16.48	)
Outstanding at December 31, 2015		3,698,000		$	4.33			8.07	$	18,000
Exercisable at December 31, 2015		1,856,000		$	6.47			7.08	$	18,000
Options available for grant as of December 31, 2015		3,104,000