Subsequent Event

3 Months Ended

Jun. 30, 2011

Subsequent Event

On August 1, 2011, the Company granted, to an executive officer, 25,000 options under the 2007 Plan to acquire shares of common stock at $2.99 per share, the closing price of the stock on August 1, 2011. These options have a life of five years from the date of grant, and vest 50% immediately and 50% on July 31, 2012. The fair value of the options was determined to be $38, which will be expensed as share-based compensation in accordance with the vesting period of the options.

The fair value of these options at the date of grant was estimated using a Black-Scholes option pricing model with the following weighted average assumptions.



Expected life (years)	3
Expected volatility	78	%
Risk-free interest rate	2	%
Dividend yield	—	%