Stock-Based Compensation (Tables)
|
6 Months Ended |
Sep. 30, 2015 |
|---|
| 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 three and six months ended September 30, 2015 (in thousands):
|
|
|
Three Months Ended
September 30,
|
|
Six Months Ended
September 30,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Cost of goods sold
|
|
$
|
35
|
|
$
|
31
|
|
$
|
69
|
|
$
|
52
|
|
|
Research and development
|
|
24
|
|
83
|
|
10
|
|
160
|
|
|
Selling, general and administrative
|
|
326
|
|
423
|
|
769
|
|
1,011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense
|
|
$
|
385
|
|
$
|
537
|
|
$
|
848
|
|
$
|
1,223
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of stock option activity |
|
|
|
Shares
|
|
Weighted
Average
Exercise Price
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years)
|
|
Aggregate
Intrinsic Value
|
|
|
Options outstanding at March 31, 2015
|
|
13,163,363
|
|
$
|
1.28
|
|
|
|
|
|
|
Granted
|
|
584,500
|
|
0.64
|
|
|
|
|
|
|
Exercised
|
|
—
|
|
—
|
|
|
|
|
|
|
Forfeited, cancelled or expired
|
|
(2,414,232
|
)
|
1.77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at September 30, 2015
|
|
11,333,631
|
|
$
|
1.14
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options fully vested at September 30, 2015 and those expected to vest beyond September 30, 2015
|
|
11,333,631
|
|
$
|
1.14
|
|
4.3
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options exercisable at September 30, 2015
|
|
9,459,184
|
|
$
|
1.17
|
|
3.5
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of weighted-average assumptions used to calculate the estimated fair value of each stock option |
|
|
|
Three Months Ended
September 30,
|
|
Six Months Ended
September 30,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Risk-free interest rates
|
|
—
|
|
—
|
|
1.5
|
%
|
1.8
|
%
|
|
Expected lives (in years)
|
|
—
|
|
—
|
|
5.7
|
|
5.7
|
|
|
Dividend yield
|
|
—
|
|
—
|
|
—
|
%
|
—
|
%
|
|
Expected volatility
|
|
—
|
|
—
|
|
59.0
|
%
|
77.0
|
%
|
|
Weighted average grant date fair value of options granted during the period
|
|
—
|
|
—
|
|
$
|
0.34
|
|
$
|
0.94
|
|
|
| Schedule of addition information on stock options |
|
|
|
Three Months Ended
September 30,
|
|
Six Months Ended
September 30,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Stock option compensation expense (in thousands)
|
|
$
|
135
|
|
$
|
237
|
|
$
|
274
|
|
$
|
595
|
|
|
Cash received for exercise price (in thousands)
|
|
$
|
—
|
|
$
|
295
|
|
$
|
—
|
|
$
|
295
|
|
|
Intrinsic value (in thousands)
|
|
$
|
—
|
|
$
|
128
|
|
$
|
—
|
|
$
|
128
|
|
|
Weighted average grant date fair value of options exercised during the period
|
|
$
|
—
|
|
$
|
1.36
|
|
$
|
—
|
|
$
|
1.36
|
|
|
| Summary of restricted stock unit activity |
|
|
|
Shares
|
|
Weighted
Average
Grant-Date
Fair Value
|
|
|
Nonvested restricted stock units outstanding at March 31, 2015
|
|
1,868,574
|
|
$
|
1.19
|
|
|
|
|
|
|
|
|
|
Granted
|
|
1,563,256
|
|
0.46
|
|
|
Vested and issued
|
|
(689,220
|
)
|
1.23
|
|
|
Forfeited
|
|
(244,781
|
)
|
1.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nonvested restricted stock units outstanding at September 30, 2015
|
|
2,497,829
|
|
$
|
0.73
|
|
|
|
|
|
|
|
|
|
|
Restricted stock units expected to vest beyond September 30, 2015
|
|
2,283,409
|
|
$
|
0.73
|
|
|
|
|
|
|
|
|
|
|
| Schedule of additional information on restricted stock units |
|
|
|
Three Months Ended
September 30,
|
|
Six Months Ended
September 30,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Restricted stock compensation expense (in thousands)
|
|
$
|
217
|
|
$
|
271
|
|
$
|
511
|
|
$
|
569
|
|
|
Aggregate fair value of restricted stock units vested and issued (in thousands)
|
|
$
|
142
|
|
$
|
503
|
|
$
|
340
|
|
$
|
1,156
|
|
|
Weighted average grant date fair value of restricted stock units granted during the period
|
|
$
|
0.36
|
|
$
|
1.26
|
|
$
|
0.46
|
|
$
|
1.43
|
|
|
| Schedule of Non-employee directors stock awards |
|
|
|
Three Months Ended
September 30,
|
|
Six Months Ended
September 30,
|
|
|
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
Non-employee directors stock awards compensation expense (in thousands)
|
|
$
|
33
|
|
$
|
29
|
|
$
|
63
|
|
$
|
59
|
|
|
Non-employee director deferred stock awards granted
|
|
84,450
|
|
23,877
|
|
153,628
|
|
42,821
|
|
|
Weighted average grant date fair value of restricted stock awards granted during the period
|
|
$
|
0.39
|
|
$
|
1.23
|
|
$
|
0.41
|
|
$
|
1.37
|
|
|
| Schedule of nonqualified common stock options and restricted stock units |
|
Outside of 2000 Plan
|
|
Options
|
|
RSUs
|
|
|
Executive Vice President and Chief Executive Officer
|
|
2,000,000
|
|
—
|
|
|
Executive Vice President of Sales and Marketing
|
|
850,000
|
|
—
|
|
|
Vice President of Operations
|
|
250,000
|
|
46,875
|
|
|
Former Senior Vice President of Human Resources
|
|
200,000
|
|
—
|
|
|
|
|
|
|
|
|
|
Outstanding stock outside of 2000 Plan
|
|
3,300,000
|
|
46,875
|
|
|
|
|
|
|
|
|
|