Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.7.0.1
Stockholders' Equity (Tables)
12 Months Ended
Mar. 31, 2017
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 fiscal years ended March 31, 2017 and 2016 (in thousands):

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

 

Ended March 31,

 

 

 

2017

    

2016

 

Cost of goods sold

 

$

65

    

$

325

 

Research and development

 

 

29

 

 

74

 

Selling, general and administrative

 

 

716

 

 

2,171

 

Stock-based compensation expense

 

$

810

 

$

2,570

 

 

Summary of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted-

 

Remaining

 

Aggregate

 

 

 

 

 

Average

 

Contractual

 

Intrinsic

 

 

 

Shares

 

Exercise Price

 

Term

 

Value

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Options outstanding at March 31, 2016

    

467,631

    

$

22.68

    

 

    

 

 

 

Granted

 

88,930

 

$

1.70

 

 

 

 

 

 

Exercised

 

 —

 

$

 —

 

 

 

 

 

 

Forfeited, cancelled or expired

 

(242,024)

 

$

24.32

 

 

 

 

 

 

Options outstanding at March 31, 2017

 

314,537

 

$

15.48

 

5.4

 

 

 —

 

Options fully vested at March 31, 2017 and those expected to vest beyond March 31, 2017

 

314,537

 

$

15.48

 

5.4

 

 

 —

 

Options exercisable at March 31, 2017

 

225,607

 

$

20.92

 

3.8

 

 

 —

 

 

Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option

 

 

 

 

 

 

 

 

Fiscal Year Ended

 

March 31,

 

2017

2016

Risk-free interest rates

 

1.3

%

 

1.5

%

Expected lives (in years)

 

5.7

 

 

5.7

 

Dividend yield

 

 —

%

 

%

Expected volatility

 

133.9

%

 

59.0

%

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

$

1.52

 

$

6.84

 

 

Summary of restricted stock unit activity

The following table outlines the restricted stock and PRSU activity:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

Average Grant

 

 

 

 

 

Date Fair

 

Restricted Stock and Performance Restricted Stock Units

 

Shares

 

Value

 

Nonvested restricted stock units outstanding at March 31, 2016

    

256,787

    

$

6.53

 

Granted

 

230,439

 

 

1.64

 

Vested and issued

 

(96,111)

 

 

8.35

 

Forfeited

 

(74,406)

 

 

4.65

 

Nonvested restricted stock units outstanding at March 31, 2017

 

316,709

 

 

2.85

 

Restricted stock units expected to vest beyond March 31, 2017

 

316,686

 

$

2.85

 

 

The following table provides additional information on restricted stock units for the Company’s fiscal years ended March 31, 2017 and 2016:

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended

 

 

 

March 31,

 

 

 

2017

    

2016

 

Restricted stock compensation expense (in thousands)

 

$

686

    

$

891

 

Aggregate fair value of restricted stock units vested and issued (in thousands)

 

$

132

 

$

346

 

Weighted average grant date fair value of restricted stock units granted during the period

 

$

1.64

 

$

3.34

 

 

Schedule of warrant activity

The following table outlines the warrant activity:

 

 

 

 

 

 

 

 

Series A

 

Series B

 

 

    

Warrants

    

Warrants

 

Balance, March 31, 2016

 

 —

 

 —

 

Issuance of warrants

 

10,407,500

 

8,215,000

 

Warrants exercised

 

 —

 

(8,215,000)

 

Balance, March 31, 2017

 

10,407,500

 

 —

 

 

Non-employee director  
Summary of restricted stock unit activity

 

 

 

 

 

 

 

 

 

 

Fiscal Year

 

 

 

Ended March 31,

 

 

    

2017

    

2016

 

Restricted stock awards compensation expense (in thousands)

 

$

104

 

$

431

 

Restricted stock awards granted

 

 

65,167

 

 

305,725

 

Weighted average grant date fair value of restricted stock awards granted during the period

 

$

1.59

 

$

1.41