Stock-based Compensation (Tables)

6 Months Ended

Sep. 30, 2014

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
	2014	2013
Grant-date fair value	$5.59	$ 4.75
Volatility factor	76.23%	77.01%
Dividend yield	-	-
Risk-free interest rate	2.52%	1.74%
Expected term (in years)	10	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, 2014		113,600	$	6.35		7.66	$	154,062
Granted		40,000		7.00
Exercised		-		-
Forfeited or Expired		-		-
Outstanding at September 30, 2014		153,600	$	6.52		7.86	$	61,118
Vested at September 30, 2014		67,350	$	6.37		6.62	$	37,243
Exercisable at September 30, 2014		67,350	$	6.37		6.62	$	37,243