Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v2.4.0.8
Stockholders' Equity (Tables)
 12 Months Ended
Mar. 31, 2014
Stockholders' Equity  
Summary of stock-based compensation expense by statement of operations line item

The following table summarizes, by statement of operations line item, stock-based compensation expense for the years ended March 31, 2014, 2013 and 2012 (in thousands):

 
   Fiscal Year
Ended March 31,		  
 
   2014   2013   2012  

Cost of goods sold

   $ 43   $ 92   $ 136  

Research and development

     562     319     324  

Selling, general and administrative

     1,542     1,190     1,192  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Stock-based compensation expense

   $ 2,147   $ 1,601   $ 1,652  
               
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Summary of stock option activity

 

 
   Shares   Weighted-
Average
Exercise Price		   Weighted-
Average
Remaining
Contractual
Term		   Aggregate
Intrinsic
Value		  
 
    
    
   (in years)
    
  

Options outstanding at March 31, 2013

     11,791,765   $ 1.33              

Granted

     1,665,200   $ 0.93              

Exercised

     (345,317 ) $ 1.35              

Forfeited, cancelled or expired

     (259,960 ) $ 1.85              
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Options outstanding at March 31, 2014

     12,851,688   $ 1.27     5.2   $ 11,838,302  

Options fully vested at March 31, 2014 and those expected to vest beyond March 31, 2014

     12,665,079   $ 1.27     5.2   $ 11,622,598  

Options exercisable at March 31, 2014

     9,767,753   $ 1.34     4.1   $ 8,478,184  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
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Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option

 

 
   Fiscal Year
Ended March 31,		  
 
   2014   2013   2012  

Risk-free interest rates

     0.9 %   0.8 %   1.9 %

Expected lives (in years)

     5.7     5.7     5.0  

Dividend yield

     — %   — %   — %

Expected volatility

     77.3 %   79.8 %   89.0 %

Weighted average grant date fair value of options granted during the period

   $ 0.60   $ 0.67   $ 1.19  
Summary of restricted stock unit activity

 

Restricted Stock Units
  Shares   Weighted
Average Grant
Date Fair
Value		  

Nonvested restricted stock units outstanding at March 31, 2013

     1,467,096   $ 1.10  

Granted

     1,379,818   $ 1.09  

Vested and issued

     (685,069 ) $ 1.06  

Forfeited

     (100,621 ) $ 1.11  
             
​ ​ ​ ​ ​ ​ ​ ​

Nonvested restricted stock units outstanding at March 31, 2014

     2,061,224   $ 1.11  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           

Restricted stock units expected to vest beyond March 31, 2014

     1,892,868   $ 1.11  
           
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
           
Schedule of warrant activity

 

 
   March 2012   September 2009   September 2008   January 2007  
 
   Shares   Shares   Shares   Shares  

Balance, March 31, 2011

     —     5,780,347     7,342,647     8,535,574  

Issuance of warrants

     22,550,000     —     —     —  

Anti-dilution provision

     —     —     146,626     —  

Warrants exercised

     —     (5,780,347 )   (3,579,239 )   (7,298,234 )

Warrants expired

     —     —     —     (1,237,340 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, March 31, 2012

     22,550,000     —     3,910,034     —  

Anti-dilution provision

     —     —     51,437        
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Balance, March 31, 2013

     22,550,000     —     3,961,471     —  

Warrants exercised

     (4,725,000 )   —     —     —  

Warrants expired

     (17,825,000 )   —     (3,961,471 )   —  
                   
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Balance, March 31, 2014

     —     —     —     —  
                   
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