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Stock-based Compensation (Tables)

6 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of the grant-date fair value of stock options granted and the related assumptions used in the Binomial models for stock options granted

		Six Months Ended
		September 30
		2013				2012
Grant-date fair value		$	4.75				-
Volatility factor			77.01	%			-
Dividend yield			-				-
Risk-free interest rate			1.74	%			-
Expected term (in years)			7				-

Summary of activity of stock options

		Number of Shares				Weighted Average Exercise Price				Weighted Average Remaining Contract Life in Years				Aggregate Intrinsic Value
Outstanding at March 31, 2013			80,000			$	6.52				8.03			$	-
Granted			35,000				5.98
Exercised			-				-
Forfeited or Expired			-				-
Outstanding at September 30, 2013			115,000			$	6.35				8.15			$	23,800

Vested at September 30, 2013			40,000			$	6.37				7.21			$	7,425
Exercisable at September 30, 2013			40,000			$	6.37				7.21			$	7,425

Summary information about options outstanding at June 30, 2013

Range of Exercise Prices				Number of Options				Weighted Average Exercise Price				Weighted Average Remaining Contract Life in Years				Aggregate Intrinsic Value
$	5.98 – 6.25				45,000			$	6.00
	6.26 – 6.50				30,000				6.29
	6.51 – 6.80				40,000				6.80
$	5.98 – 6.80				115,000			$	6.35				8.15			$	23,800

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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