Stockholders' Deficit

3 Months Ended

Jun. 30, 2011

Preferred Stock/Stockholders' Deficit [Abstract]

Stockholders' Deficit

9. Stockholders’ Deficit

Common stock

As of June 30, 2011, we have shares of common stock authorized and available for future issuance as follows:

Convertible preferred stock, Series A	15,740,285
Convertible preferred stock, Series B	16,036,346
Convertible preferred stock, Series C	15,621,609
Options to purchase common stock	6,878,672
Options available for future issuance	1,917,033
Convertible preferred Series A stock warrants	1,265,990
Convertible preferred Series B stock warrants	374,180
Common stock warrants	259,482
Total common stock reserved for future issuance	58,093,597

During the three months ended June 30, 2011, we issued 140,500 shares of common stock in exchange for proceeds of $38,810 upon the exercise of employee stock options. No warrants were exercised for the three months ended June 30, 2011. During the three months ended June 30, 2010, we issued 29,250 shares of common stock in exchange for proceeds of $7,898 upon the exercise of employee stock options. No warrants were exercised for the three months ended June 30, 2010.

In April 2011, we recorded fully exercisable warrants to purchase 155,482 shares of common stock at $1.5677 per share. The warrants may be exercised at any time on or before February 2021. The fair value of these warrants was estimated to be $19,086 using the Black-Scholes option pricing model with the following assumptions: a volatility of 46.31%, a contractual life of 10 years, no dividend yield and a risk-free interest rate of 3.49%.