Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | 27-May-14 | Sep. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Mar-14 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Document Fiscal Year Focus | '2014 | ' | ' |
Entity Registrant Name | 'UQM TECHNOLOGIES INC | ' | ' |
Entity Central Index Key | '0000315449 | ' | ' |
Current Fiscal Year End Date | '--03-31 | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 40,434,638 | ' |
Entity Public Float | ' | ' | $65,867,660 |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Trading Symbol | 'uqm | ' | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Assets | ' | ' |
Cash and cash equivalents | $10,247,112 | $4,527,899 |
Short-term investments | 63,029 | ' |
Accounts receivable, net of allowance for doubtful accounts of zero and $3,838,092, respectively | 960,419 | 2,212,395 |
Costs and estimated earnings in excess of billings on uncompleted contracts | 341,255 | 178,264 |
Inventories | 10,054,422 | 10,998,461 |
Facility held for sale | ' | 1,525,000 |
Prepaid expenses and other current assets | 263,988 | 309,957 |
Total current assets | 21,930,225 | 19,751,976 |
Property and equipment, at cost: | ' | ' |
Land | 1,683,330 | 1,683,330 |
Building | 4,516,301 | 4,516,301 |
Machinery and equipment | 7,706,066 | 7,771,363 |
Property, plant and equipment, gross | 13,905,697 | 13,970,994 |
Less accumulated depreciation | -6,337,924 | -5,507,801 |
Net property and equipment | 7,567,773 | 8,463,193 |
Patent costs, net of accumulated amortization of $878,707 and $845,795 | 227,015 | 206,287 |
Trademark costs, net of accumulated amortization of $68,718 and $64,230 | 107,123 | 110,528 |
Other assets | 2,997 | 76,731 |
Total assets | 29,835,133 | 28,608,715 |
Liabilities and Stockholders' Equity | ' | ' |
Accounts payable | 386,293 | 617,197 |
Other current liabilities | 1,491,745 | 2,599,435 |
Short-term deferred compensation under executive employment agreements | ' | 524,000 |
Total current liabilities | 1,878,038 | 3,740,632 |
Long-term deferred compensation under executive employment agreements | 182,100 | 103,412 |
Total liabilities | 2,060,138 | 3,844,044 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Common stock, $.01 par value, 50,000,000 shares authorized; 39,777,767 and 36,664,097 shares issued and outstanding | 397,778 | 366,641 |
Additional paid-in capital | 121,325,762 | 115,573,331 |
Accumulated deficit | -93,948,545 | -91,175,301 |
Total stockholders' equity | 27,774,995 | 24,764,671 |
Total liabilities and stockholders' equity | $29,835,133 | $28,608,715 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Balance Sheets [Abstract] | ' | ' |
Allowance for Doubtful Accounts Receivable | $0 | $3,838,092 |
Patent costs, accumulated amortization | 878,707 | 845,795 |
Trademark costs, accumulated amortization | $68,718 | $64,230 |
Common stock, par value per share | $0.01 | $0.01 |
Common stock, shares authorized | 50,000,000 | 50,000,000 |
Common stock, shares issued | 39,777,767 | 36,664,097 |
Common Stock, Shares, Outstanding | 39,777,767 | 36,664,097 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Revenue: | ' | ' | ' |
Contract services | $6,136,305 | $5,910,153 | $9,358,388 |
Product sales | 909,895 | 1,268,556 | 785,068 |
Total Revenues | 7,046,200 | 7,178,709 | 10,143,456 |
Operating costs and expenses: | ' | ' | ' |
Costs of contract services | 3,609,028 | 4,333,005 | 6,663,648 |
Costs of product sales | 743,068 | 715,225 | 499,813 |
Research and development | 219,887 | 96,905 | 37,128 |
Production engineering | 4,644,646 | 4,921,970 | 6,014,868 |
Reimbursement of costs under DOE grant | -3,625,853 | -4,205,678 | -3,794,324 |
Selling, general and administrative | 5,143,864 | 7,022,112 | 5,678,797 |
(Recovery) impairment of assets | -868,475 | 4,980,117 | ' |
(Gain) loss on disposal of long-lived assets | -37,462 | 22,485 | -3,138 |
Total Costs and Expenses | 9,828,703 | 17,886,141 | 15,096,792 |
Loss before other income | -2,782,503 | -10,707,432 | -4,953,336 |
Other income: | ' | ' | ' |
Interest income | 1,787 | 15,743 | 22,805 |
Other | 7,472 | 3,377 | 2,011 |
Total nonoperating income | 9,259 | 19,120 | 24,816 |
Net loss | ($2,773,244) | ($10,688,312) | ($4,928,520) |
Net loss per common share - basic and diluted | ($0.07) | ($0.29) | ($0.14) |
Weighted average number of shares of common stock outstanding - basic and diluted | 37,253,066 | 36,564,952 | 36,301,642 |
Stockholders_Equity
Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Total |
Beginning balance, value at Mar. 31, 2011 | $362,133 | $113,391,049 | ($75,558,469) | $38,194,713 |
Beginning balance, shares at Mar. 31, 2011 | ' | ' | ' | 36,213,293 |
Class of Stock [Line Items] | ' | ' | ' | ' |
Issuance of common stock under employee stock purchase plan, value | 412 | 60,548 | ' | 60,960 |
Issuance of common stock under employee stock purchase plan, shares | ' | ' | ' | 41,158 |
Purchase of treasury stock, value | -62 | -12,314 | ' | -12,376 |
Purchase of treasury stock, shares | ' | ' | ' | -6,191 |
Issuance of common stock under stock bonus plan, value | 1,079 | 167,545 | ' | 168,624 |
Issuance of common stock under stock bonus plan, shares | ' | ' | ' | 107,917 |
Compensation expense from employee and director stock option and common stock grants | ' | 764,278 | ' | 764,278 |
Net loss | ' | ' | -4,928,520 | -4,928,520 |
Ending balance, value at Mar. 31, 2012 | 363,562 | 114,371,106 | -80,486,989 | 34,247,679 |
Ending balance, shares at Mar. 31, 2012 | ' | ' | ' | 36,356,177 |
Class of Stock [Line Items] | ' | ' | ' | ' |
Issuance of common stock under employee stock purchase plan, value | 855 | 74,530 | ' | 75,385 |
Issuance of common stock under employee stock purchase plan, shares | ' | ' | ' | 85,550 |
Purchase of treasury stock, value | -413 | -40,017 | ' | -40,430 |
Purchase of treasury stock, shares | ' | ' | ' | -41,321 |
Issuance of common stock under stock bonus plan, value | 2,637 | 145,115 | ' | 147,752 |
Issuance of common stock under stock bonus plan, shares | ' | ' | ' | 263,691 |
Compensation expense from employee and director stock option and common stock grants | ' | 1,022,597 | ' | 1,022,597 |
Net loss | ' | ' | -10,688,312 | -10,688,312 |
Ending balance, value at Mar. 31, 2013 | 366,641 | 115,573,331 | -91,175,301 | 24,764,671 |
Ending balance, shares at Mar. 31, 2013 | ' | ' | ' | 36,664,097 |
Class of Stock [Line Items] | ' | ' | ' | ' |
Issuance of common stock under employee stock purchase plan, value | 624 | 60,065 | ' | 60,689 |
Issuance of common stock under employee stock purchase plan, shares | ' | ' | ' | 62,421 |
Stock Issued During Period, Value, New Issues | 28,649 | 4,883,284 | ' | 4,911,933 |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | 2,864,872 |
Issuance of common stock under stock bonus plan, value | 1,663 | 34,836 | ' | 36,499 |
Issuance of common stock under stock bonus plan, shares | ' | ' | ' | 166,231 |
Issuance of common stock upon exercise of employee options, value | 201 | 20,874 | ' | 21,075 |
Issuance of common stock upon exercise of employee options, shares | ' | ' | ' | 20,146 |
Compensation expense from employee and director stock option and common stock grants | ' | 753,372 | ' | 753,372 |
Net loss | ' | ' | -2,773,244 | -2,773,244 |
Ending balance, value at Mar. 31, 2014 | $397,778 | $121,325,762 | ($93,948,545) | $27,774,995 |
Ending balance, shares at Mar. 31, 2014 | ' | ' | ' | 39,777,767 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Cash flows from operating activities: | ' | ' | ' |
Net loss | ($2,773,244) | ($10,688,312) | ($4,928,520) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' |
Depreciation and amortization | 1,136,021 | 1,252,834 | 1,178,958 |
Non-cash equity based compensation | 789,871 | 1,170,349 | 932,902 |
(Recovery) Impairment of assets | -868,475 | 4,980,117 | ' |
(Gain) loss on disposal of long-lived assets | -37,462 | 22,485 | -3,138 |
Impairment of long-lived assets | ' | ' | 27,845 |
Impairment of inventories | 5,047 | 8,928 | 10,169 |
Change in operating assets and liabilities: | ' | ' | ' |
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts | 1,055,980 | -1,199,701 | -1,978,510 |
Inventories | 938,992 | -1,796,309 | -8,360,876 |
Prepaid expenses and other current assets | 45,969 | 135,758 | -189,438 |
Accounts payable and other current liabilities | -470,119 | -1,050,805 | 2,506,261 |
Billings in excess of costs and estimated earnings on uncompleted contracts | ' | -7,201 | -8,525 |
Deferred compensation under executive employment agreements | -445,312 | -87,695 | -601,265 |
Net cash used in operating activities | -622,732 | -7,259,552 | -11,414,137 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of short-term investments | -593 | -245,950 | -7,369,698 |
Maturities of short-term investments | ' | 728,859 | 15,219,312 |
Increase in other long-term assets | ' | -583 | -61,855 |
Acquisition of property and equipment | -377,224 | -561,669 | -2,132,593 |
Property and equipment reimbursements received from DOE under grant | 215,754 | 208,032 | 1,486,990 |
Increase in patent and trademark costs | -54,721 | -14,158 | -21,240 |
Cash proceeds from the sale of equipment | 1,565,032 | 25 | 3,825 |
Net cash provided by investing activities | 1,348,248 | 114,556 | 7,124,741 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of common stock upon exercise of employee stock options | 21,075 | ' | ' |
Issuance of common stock under employee stock purchase plan | 60,689 | 75,385 | 60,960 |
Issuance of common stock in follow-on offering, net of offering costs | 4,911,933 | ' | ' |
Purchase of treasury stock | ' | -40,430 | -12,376 |
Net cash provided by financing activities | 4,993,697 | 34,955 | 48,584 |
Increase (decrease) in cash and cash equivalents | 5,719,213 | -7,110,041 | -4,240,812 |
Cash and cash equivalents at beginning of period | 4,527,899 | 11,637,940 | 15,878,752 |
Cash and cash equivalents at end of period | $10,247,112 | $4,527,899 | $11,637,940 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||||
Significant Accounting Policies | ' | |||||||||||||||
(1) Summary of Significant Accounting Policies | ||||||||||||||||
(a) Description of Business | ||||||||||||||||
UQM Technologies, Inc. and our wholly-owned subsidiaries are engaged in the research, development and manufacture of permanent magnet electric motors and the electronic controls for such motors. Our facility is located in Longmont, Colorado. Our revenue is derived primarily from product sales to customers in the commercial truck, bus, automotive, marine and military markets, and from contract research and development services. We are impacted by other factors such as the continued receipt of contracts from industrial and governmental parties, our ability to protect and maintain the proprietary nature of our technology, continued product and technological advances and our ability, together with our partners, to commercialize our products and technology. | ||||||||||||||||
(b) Principles of Consolidation | ||||||||||||||||
The consolidated financial statements include the accounts of UQM Technologies, Inc. and those of all majority-owned or controlled subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. | ||||||||||||||||
(c) Cash and Cash Equivalents and Short-term Investments | ||||||||||||||||
We consider cash on hand and investments with original maturities of three months or less to be cash and cash equivalents. Investments with original maturities of greater than three months and less than one year from the balance sheet date are classified as short-term. | ||||||||||||||||
We limit our cash and cash equivalents and investments to high quality financial institutions in order to minimize our credit risk. We maintain cash and cash equivalent balances with financial institutions that exceed federally insured limits. We have not experienced any losses related to these balances and management believes our credit risk to be minimal. | ||||||||||||||||
(d) Investments | ||||||||||||||||
We have an investment policy approved by the Board of Directors that governs the quality, acceptability and dollar concentration of our investments. Under the policy, we may invest in marketable securities consisting primarily of commercial paper, asset-backed and mortgage-backed notes and bank certificates of deposits with original maturities beyond three months. All marketable securities are held in our name at two major financial institutions that hold custody of the investments. All of our investments are held-to-maturity investments as we have the positive intent and ability to hold until maturity. These securities are recorded at amortized cost. | ||||||||||||||||
The amortized cost and unrealized gain or loss of our investments at March 31, 2014 and March 31, 2013 were: | ||||||||||||||||
31-Mar-14 | 31-Mar-13 | |||||||||||||||
Amortized Cost | Gain (Loss) | Amortized Cost | Gain (Loss) | |||||||||||||
Short-term investments: | ||||||||||||||||
Certificate of deposit | $ | 63,029 | $ | - | $ | - | $ | - | ||||||||
63,029 | - | - | - | |||||||||||||
Long-term investments: | ||||||||||||||||
Certificate of deposit (included in other assets) | - | - | 62,436 | - | ||||||||||||
$ | 63,029 | $ | - | $ | 62,436 | $ | - | |||||||||
The time to maturity of held-to-maturity securities were: | ||||||||||||||||
31-Mar-14 | 31-Mar-13 | |||||||||||||||
Three to six months | $ | - | $ | - | ||||||||||||
Six months to one year | 63,029 | - | ||||||||||||||
Over one year | - | 62,436 | ||||||||||||||
$ | 63,029 | $ | 62,436 | |||||||||||||
(e) Accounts Receivables | ||||||||||||||||
We extend unsecured credit to many of our customers following a review of the customers’ financial condition and credit history. Our sales are conducted through acceptance of customer purchase orders or in some cases through supply agreements. For credit qualified customers, our standard terms are net 30 days. For international customers without an adequate credit rating, our typical terms are irrevocable letter of credit or cash payment in advance of delivery. We establish an allowance for uncollectable accounts based upon a number of factors including the length of time trade receivables are past due, the customer’s ability to pay its obligation to us, the condition of the general economy, estimates of credit risk, historical trends and other information. We write off accounts receivable when they become uncollectible against our allowance for doubtful accounts receivable. At March 31, 2014 and 2013, we had an allowance for doubtful accounts receivable of zero and $3,838,092, respectively. The following represents activity under our allowance for doubtful accounts receivable for the fiscal years ended March 31, 2014, 2013 and 2012: | ||||||||||||||||
Additions | ||||||||||||||||
Balance at | Charged to | Charged to | ||||||||||||||
Beginning | Costs and | Other | Balance at | |||||||||||||
of Year | Expenses | Accounts | Deductions | End of Year | ||||||||||||
Year ended March 31, 2014 | ||||||||||||||||
Allowance for doubtful accounts- deducted | ||||||||||||||||
from accounts receivable | $ | 3,838,092 | - | - | 3,838,092 | $ | - | |||||||||
Year ended March 31, 2013 | ||||||||||||||||
Allowance for doubtful accounts- deducted | ||||||||||||||||
from accounts receivable | $ | 127,697 | 3,838,092 | - | 127,697 | $ | 3,838,092 | |||||||||
Year ended March 31, 2012 | ||||||||||||||||
Allowance for doubtful accounts- deducted | - | |||||||||||||||
from accounts receivable | $ | - | 127,697 | - | $ | 127,697 | ||||||||||
(f) Inventories | ||||||||||||||||
Inventories are stated at the lower of cost or market. Cost is determined by the first-in, first-out method. We charge directly to expense slow moving or obsolete inventory items during the period we assess the value of such inventory to be impaired. For the fiscal years ended March 31, 2014, 2013 and 2012, we impaired inventory of $5,047, $8,928 and $10,169, respectively. | ||||||||||||||||
(g) Property and Equipment | ||||||||||||||||
Property and equipment are stated at cost, unless the asset was acquired, in part, with U.S. Department of Energy (“DOE”) grant funds, in which case it is stated at cost net of DOE reimbursements. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which range from three to five years, except for buildings, which are depreciated over 27.5 years. Maintenance and repairs are charged to expense as incurred. Depreciation expense for the fiscal years ended March 31, 2014, 2013 and 2012 was $1,098,622, $1,218,812 and $1,139,821, respectively, and was reported in operating costs and expenses on the Consolidated Statements of Operations. | ||||||||||||||||
(h) Patent and Trademark Costs | ||||||||||||||||
Patent and trademark costs consist primarily of legal expenses, and represent those costs incurred by us for the filing of patent and trademark applications. Amortization of patent and trademark costs is computed using the straight-line method over the estimated useful life of the asset, typically 13 years for patents, and 40 years for trademarks. Amortization expense for the fiscal years ended March 31, 2014, 2013 and 2012 was $37,399, $34,022, and $39,137, respectively. | ||||||||||||||||
(i) Impairment of Long-Lived Assets | ||||||||||||||||
We periodically evaluate whether circumstances or events have affected the recoverability of long-lived assets including intangible assets with finite useful lives. The assessment of possible impairment is based on our ability to recover the carrying value of the asset or groups of assets from expected future cash flows (undiscounted and without interest charges) estimated by management. If expected future cash flows are less than the carrying value, an impairment loss is recognized to adjust the asset to fair value as determined by expected discounted future cash flows. | ||||||||||||||||
(j) Product Warranties | ||||||||||||||||
Our warranty policy generally provides three months to three years of coverage depending on the product. We record a liability for estimated warranty obligations at the date products are sold. The estimated cost of warranty coverage is based on our actual historical experience with our current products or similar products. For new products, the required reserve is based on historical experience of similar products until sufficient historical data has been collected on the new product. Adjustments are made as new information becomes available. The following is a summary of warranty activity for the fiscal years ended March 31, 2014, 2013 and 2012: | ||||||||||||||||
Additions | ||||||||||||||||
Balance at | Charged to | Charged to | ||||||||||||||
Beginning | Costs and | Other | Balance at | |||||||||||||
of Year | Expenses | Accounts | Deductions | End of Year | ||||||||||||
Year ended March 31, 2014 | ||||||||||||||||
Accrued warranty cost | $ | 77,393 | 164,567 | - | 66,299 | (A) | $ | 175,661 | ||||||||
Year ended March 31, 2013 | ||||||||||||||||
Accrued warranty cost | $ | 154,978 | 58,676 | - | 136,261 | (A) | $ | 77,393 | ||||||||
Year ended March 31, 2012 | ||||||||||||||||
Accrued warranty cost | $ | 89,463 | 196,815 | - | 131,300 | (A) | $ | 154,978 | ||||||||
Note (A) Represents actual warranty payments for units returned under warranty | ||||||||||||||||
(k) Revenue and Cost Recognition | ||||||||||||||||
Revenue from sales of products is generally recognized at the time title to the goods and the benefits and risks of ownership passes to the customer, which is typically when products are shipped based on the terms of the customer purchase agreement. | ||||||||||||||||
Revenue relating to long-term fixed price contracts is recognized using the percentage of completion method. Under the percentage of completion method, contract revenues and related costs are recognized based on the percentage that costs incurred to date bear to total estimated costs. Changes in job performance, estimated profitability and final contract settlements may result in revisions to cost and revenue, and are recognized in the period in which the revisions are determined. Contract costs include all direct materials, subcontract and labor costs and other indirect costs. Selling, general and administrative costs are charged to expense as incurred. At the time a loss on a contract becomes known, the entire amount of the estimated loss is accrued. | ||||||||||||||||
The aggregate of costs incurred and estimated earnings recognized on uncompleted contracts in excess of related billings is shown as a current asset, and billings on uncompleted contracts in excess of costs incurred and estimated earnings is shown as a current liability. | ||||||||||||||||
(l) Government Grants | ||||||||||||||||
The Company recognizes revenue and cost reimbursements from government grants when it is probable that the Company will comply with the conditions attached to the grant arrangement and the grant proceeds will be received. Government grants are recognized in the Consolidated Statements of Operations on a systematic basis over the periods in which the Company recognizes the related costs for which the government grant is intended to compensate. Specifically, when government grants are related to reimbursements for cost of revenues or operating expenses, the government grants are recognized as a reduction of the related expense in the Consolidated Statements of Operations. For government grants related to reimbursements of capital expenditures, the government grants are recognized as a reduction of the basis of the asset and recognized in the Consolidated Statements of Operations over the estimated useful life of the depreciable asset as reduced depreciation expense. | ||||||||||||||||
The Company records government grants receivable in the Consolidated Balance Sheets in accounts receivable. | ||||||||||||||||
(m) Income Taxes | ||||||||||||||||
The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The valuation of deferred tax assets may be reduced if future realization is not assured. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense or benefit in the period that includes the enactment date. The Company has unexpired net operating losses and research and development credits carrying forward into current years that date from the tax year 1999 and 2001, respectively. As such, all federal tax returns from 1999 to the present are subject to audit. | ||||||||||||||||
(n) Research and Development | ||||||||||||||||
Costs of researching and developing new technology, or significantly altering existing technology, are expensed as incurred. | ||||||||||||||||
(o) Loss Per Common Share | ||||||||||||||||
Basic loss per share is computed by dividing loss attributable to common stockholders by the weighted average number of common shares outstanding during the periods presented. Diluted loss per share is computed by dividing loss attributable to common stockholders by all outstanding and potentially dilutive shares during the periods presented, unless the effect is antidilutive. At March 31, 2014, 2013 and 2012, 640,979 and 358,855 and 167,680 shares of common stock issued but not yet vested, respectively under the Stock Bonus Plan, were being held by the Company. For fiscal years 2014, 2013 and 2012, 267,911, 32,681 and 16,487 shares were potentially includable in the calculation of diluted loss per share under the treasury stock method but were not included, because to do so would be antidilutive. At March 31, 2014, 2013 and 2012, options to purchase 3,342,627, 4,282,001 and 3,254,905 shares of common stock, respectively, and warrants to purchase 1,489,733, zero and zero shares of common stock, respectively, were outstanding. For the fiscal years ended March 31, 2014, 2013 and 2012, options and warrants for 3,371,161, 2,872,257 and 3,201,569 shares were not included in the computation of diluted loss per share because the option exercise price was greater than the average market price of the common stock. In-the-money options and warrants determined under the treasury stock method to acquire 462,104, zero and 2,834 shares of common stock for the fiscal years ended March 31, 2014, 2013 and 2012, respectively, were potentially includable in the calculation of diluted loss per share but were not, because to do so would be antidilutive. | ||||||||||||||||
(p) Use of Estimates | ||||||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | ||||||||||||||||
Contracts_In_Process
Contracts In Process | 12 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Contracts In Process [Abstract] | ' | |||||||
Contracts In Process | ' | |||||||
(2) Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings on Uncompleted Contracts | ||||||||
At March 31, 2014 and March 31, 2013, the estimated period to complete contracts in process ranged from one to ten months and one to twenty-one months, respectively. We expect to collect all accounts receivable arising from these contracts within sixty days of billing. | ||||||||
The following summarizes contracts in process: | ||||||||
31-Mar-14 | 31-Mar-13 | |||||||
Costs incurred on uncompleted contracts | $ | 1,549,313 | $ | 838,246 | ||||
Estimated earnings | 670,596 | 515,299 | ||||||
2,219,909 | 1,353,545 | |||||||
Less billings to date | -1,878,654 | -1,175,281 | ||||||
Costs and estimated earnings in excess of billings | ||||||||
on uncompleted contracts | $ | 341,255 | $ | 178,264 | ||||
Inventories
Inventories | 12 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Inventories [Abstract] | ' | ||||||
Inventories | ' | ||||||
(3) Inventories | |||||||
Inventories consist of: | |||||||
31-Mar-14 | 31-Mar-13 | ||||||
Raw materials | $ | 7,537,189 | $ | 8,097,342 | |||
Work-in-process | 84,178 | 356,696 | |||||
Finished products | 2,433,055 | 2,544,423 | |||||
$ | 10,054,422 | $ | 10,998,461 | ||||
Our inventories are subject to obsolescence and potential impairment due to bulk purchases in excess of customers’ requirements. We periodically assess our inventories for recovery of carrying value based on available information, expectations and estimates, and adjust inventory carrying values to the lower of cost or market for estimated declines in the realizable value. | |||||||
Impairment_Of_LongLived_Assets
Impairment Of Long-Lived Assets | 12 Months Ended |
Mar. 31, 2014 | |
Impairment of Long-Lived Assets [Abstract] | ' |
Impairment Of Long-Lived Assets | ' |
(4) Impairment of Long-Lived Assets | |
During the fiscal years ended March 31, 2014, 2013 and 2012, we recorded total impairment charges of zero, zero and 27,845, respectively for the impairment of long-lived assets. | |
Impairments for the fiscal year ended March 31, 2012 consist solely of capitalized legal fees associated with the preparation and filing of patent applications that were subsequently abandoned. Because no patents were issued, none of these patent application costs were amortized prior to their impairment. | |
Facility_Held_For_Sale
Facility Held For Sale | 12 Months Ended |
Mar. 31, 2014 | |
Facility Held For Sale [Abstract] | ' |
Facility Held For Sale | ' |
(5) Facility Held for Sale | |
We had listed our former facility in Frederick, Colorado for sale with a commercial real estate broker as of March 31, 2013. The facility was reclassified as a current asset and we had discontinued depreciating the asset pending the sale of the building. | |
On June 6, 2013, we closed on the sale the building. The sales price was $1,650,000 and net proceeds were $1,565,032. | |
Patents_and_Trademarks
Patents and Trademarks | 12 Months Ended | |||||
Mar. 31, 2014 | ||||||
Patents And Trademarks [Abstract] | ' | |||||
Patents and Trademarks | ' | |||||
(6) Patents and Trademarks | ||||||
Patents owned by the Company had a gross carrying amount of $1,105,722 and $1,052,082, accumulated amortization of $878,707 and $845,795, and a net carrying amount of $227,015 and $206,287, at March 31, 2014 and 2013, respectively. Trademarks owned by the Company had a gross carrying amount of $175,841 and $174,758, accumulated amortization of $68,718 and $64,230, and a net carrying value of $107,123 and $110,528 at March 31, 2014 and 2013, respectively. Patents and trademarks are amortized on a straight-line basis over the estimated useful life of the asset. The weighted-average period of amortization is 13 years for patents, and 40 years for trademarks. | ||||||
Estimated future amortization of these intangible assets by fiscal year is as follows: | ||||||
Patents | Trademarks | |||||
2015 | $ | 20,430 | $ | 4,487 | ||
2016 | 15,466 | 4,487 | ||||
2017 | 15,466 | 4,487 | ||||
2018 | 15,028 | 4,487 | ||||
2019 | 11,486 | 4,487 | ||||
Thereafter | 149,139 | 84,688 | ||||
$ | 227,015 | $ | 107,123 | |||
Government_Grants
Government Grants | 12 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Government Grants [Abstract] | ' | |||||||||
Government Grants | ' | |||||||||
(7) Government Grant | ||||||||||
We have a grant (the “Grant”) with the DOE under the American Recovery and Reinvestment Act for reimbursements up to a maximum of $32.4 million. The Grant provides funds to facilitate the manufacture and deployment of electric drive vehicles, batteries and electric drive vehicle components in the United States. Pursuant to the terms of the Agreement, the DOE will reimburse us for 50 percent of qualifying costs for the purchase of facilities, tooling and manufacturing equipment, and for engineering related to product qualification and testing of our electric propulsion systems. The period of the Grant is through January 12, 2015. We recognize government grant reimbursements when it is probable that the Company will comply with the conditions attached to the grant arrangement and the grant proceeds will be received. | ||||||||||
The Grant is also subject to our compliance with certain reporting requirements. The American Recovery and Reinvestment Act imposes minimum construction wages and labor standards for projects funded by the Grant. If we dispose of assets acquired using Grant funding, we may be required to reimburse the DOE upon such sale date if the fair value of the asset on the date of disposition exceeds $5,000. The amount of any such reimbursement shall be equal to 50 percent of the fair value of the asset on the date of disposition. | ||||||||||
While UQM has exclusive patent ownership rights for any technology developed with Grant funds, we are required to grant the DOE a non-exclusive, non-transferable, paid-up license to use such technology. | ||||||||||
During the second quarter of the current fiscal year, we changed our cumulative estimate of reimbursable rates under the Grant which resulted in an increase in our reimbursement of costs recorded for the fiscal year ended March 31, 2014 of $958,000. | ||||||||||
At March 31, 2014, we had received reimbursements from the DOE under the Grant totaling approximately $24.4 million and had grant funds receivable of approximately $0.6 million. | ||||||||||
The application of grant funds to the recorded value of eligible capital asset purchases under the Grant as of March 31, 2014 and March 31, 2013 are as follows: | ||||||||||
31-Mar-14 | ||||||||||
Purchase Cost | Grant Funding | Recorded Value | ||||||||
Land | $ | 896,388 | $ | 448,194 | $ | 448,194 | ||||
Building | 9,906,736 | 4,953,368 | 4,953,368 | |||||||
Machinery and equipment | 7,946,910 | 3,973,455 | 3,973,455 | |||||||
$ | 18,750,034 | $ | 9,375,017 | $ | 9,375,017 | |||||
31-Mar-13 | ||||||||||
Purchase Cost | Grant Funding | Recorded Value | ||||||||
Land | $ | 896,388 | $ | 448,194 | $ | 448,194 | ||||
Building | 9,906,736 | 4,953,368 | 4,953,368 | |||||||
Machinery and equipment | 7,581,408 | 3,790,704 | 3,790,704 | |||||||
$ | 18,384,532 | $ | 9,192,266 | $ | 9,192,266 | |||||
Other_Current_Liabilities
Other Current Liabilities | 12 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Other Current Liabilities [Abstract] | ' | ||||||
Other Current Liabilities | ' | ||||||
(8) Other Current Liabilities | |||||||
Other current liabilities consist of: | |||||||
31-Mar-14 | 31-Mar-13 | ||||||
Accrued payroll and employee benefits | $ | 164,334 | $ | 174,135 | |||
Accrued personal property and real estate taxes | 227,022 | 264,814 | |||||
Accrued warranty costs | 175,661 | 77,393 | |||||
Unearned revenue | 5,416 | 71,442 | |||||
Accrued royalties | 48,336 | 48,336 | |||||
Accrued import duties | 87,100 | 813,740 | |||||
Accrued vendor settlements | 774,974 | 1,050,000 | |||||
Other | 8,902 | 99,575 | |||||
$ | 1,491,745 | $ | 2,599,435 | ||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended |
Mar. 31, 2014 | |
Commitments And Contingencies [Abstract] | ' |
Commitments And Contingencies | ' |
(9) Commitments and Contingencies | |
Employment Agreements | |
The Company has entered into employment agreements with all of its officers. Messrs. Ridenour, Rosenthal, Lutz, Schaffer and Mitchell have agreed to serve in their present capacity for a term expiring on August 31, 2015. The aggregate future base salary payable to the executive officers over their remaining terms is $1,608,250. In addition, we have recorded a liability of $182,100 and $627,412 at March 31, 2014 and March 31, 2013, respectively, representing the potential future compensation payable under the retirement and voluntary termination provisions of the employment agreements of the Company’s current officers. | |
The employment agreements provide for severance payments under the conditions and for the amounts specified in the agreements. | |
Lease Commitments | |
At March 31, 2014, there were no operating leases and there was no rental expense during the years ended March 31, 2014, 2013 and 2012. | |
Litigation | |
We are involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, and based on current available information, the ultimate disposition of these matters is not expected to have a material adverse effect on our financial position, results of operations or cash flow. | |
Fair_Value_Of_Financial_Instru
Fair Value Of Financial Instruments | 12 Months Ended |
Mar. 31, 2014 | |
Fair Value Of Financial Instruments [Abstract] | ' |
Fair Value Of Financial Instruments | ' |
(10) Fair Value of Financial Instruments | |
The carrying amounts of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments. The carrying value of investments is the amortized cost of the investments which approximates fair value. See Note 1(d). | |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||
Mar. 31, 2014 | |||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||
Fair Value Measurements | ' | ||||||||||||||
(11) Fair Value Measurements | |||||||||||||||
Liabilities measured at fair value on a recurring basis as of March 31, 2014 are summarized below: | |||||||||||||||
Fair Value at Reporting Date Using | |||||||||||||||
Quoted Prices | |||||||||||||||
In Active | Significant | ||||||||||||||
Markets | Other | Significant | |||||||||||||
For Identical | Observable | Unobservable | |||||||||||||
Liabilities | Inputs | Inputs | |||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Deferred compensation under | |||||||||||||||
executive employment agreements (1) | $ | 182,100 | - | - | $ | 182,100 | |||||||||
Note (1) Included in current liabilities on our consolidated balance sheet as of March 31, 2014. | |||||||||||||||
Liabilities measured at fair value on a recurring basis as of March 31, 2013 are summarized below: | |||||||||||||||
Fair Value at Reporting Date Using | |||||||||||||||
Quoted Prices | |||||||||||||||
In Active | Significant | ||||||||||||||
Markets | Other | Significant | |||||||||||||
For Identical | Observable | Unobservable | |||||||||||||
Liabilities | Inputs | Inputs | |||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||
Deferred compensation under | |||||||||||||||
executive employment agreements (1) | $ | 627,412 | - | - | $ | 627,412 | |||||||||
Note (1) $524,000 included in current liabilities and $103,412 included in long term liabilities on our consolidated balance sheet as of March 31, 2013. | |||||||||||||||
Deferred compensation under executive employment agreements represents the future compensation potentially payable under the retirement and voluntary termination provisions of executive employment agreements. The value of the Level 3 liability in the foregoing table was determined using a discounted cash flow model. The significant unobservable input used in the calculation is a discount rate of 14 percent, which is based on the expected cost of capital for the Company. A 1 percent change in this discount rate would result in approximately a $2,500 change in the recorded value of the liability as of March 31, 2014. | |||||||||||||||
A summary of the liability measured at fair value on a recurring basis using significant unobservable inputs (Level 3) follows: | |||||||||||||||
Fair Value Measurements Using Significant | |||||||||||||||
Unobservable Inputs (Level 3) for the | |||||||||||||||
Fiscal Year Ended March 31, | |||||||||||||||
2014 | 2013 | ||||||||||||||
Deferred | Deferred | ||||||||||||||
Compensation | Compensation | ||||||||||||||
On Executive | On Executive | ||||||||||||||
Employment | Employment | ||||||||||||||
Agreements | Agreements | ||||||||||||||
Balance at beginning of period | $ | 627,412 | $ | 715,107 | |||||||||||
Transfers into Level 3 | - | - | |||||||||||||
Transfers out of Level 3 | - | - | |||||||||||||
Total gains or losses (realized and unrealized): | |||||||||||||||
Included in earnings | 78,688 | 64,312 | |||||||||||||
Included in other comprehensive income | - | - | |||||||||||||
Settlements | -524,000 | -152,007 | |||||||||||||
Balance at the end of period | $ | 182,100 | $ | 627,412 | |||||||||||
Loss for the period included in earnings | |||||||||||||||
attributable to the Level 3 liability still | |||||||||||||||
held at the end of the period | $ | 78,688 | $ | 64,312 | |||||||||||
Stockholders_Equity1
Stockholder's Equity | 12 Months Ended |
Mar. 31, 2014 | |
Stockholders' Equity [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
(12) Stockholders’ Equity | |
In February, 2014, we completed a follow-on offering consisting of 2,864,872 shares of our common stock, and common stock purchase warrants to purchase 1,432,436 shares of our common stock. The warrants have an exercise price of $2.1275 per whole share of common stock and are exercisable on or after August 6, 2014 and on or before August 5, 2018. In addition, the placement agent was issued warrants to purchase 57,297 shares of common stock, on substantially the same terms as the warrants issued to the purchasers. Cash proceeds, net of offering costs, were $4,911,933. The fair value of the warrants at the time of issuance was $1,832,943, and was recorded as additional paid-in capital. This fair value was determined using the Black-Scholes option pricing model with the following assumptions: a term of four and a half years, risk-free interest rate of 1.5%, volatility of 78.3%, and dividend yield of zero. Warrants to acquire 1,489,733 and zero shares of our common stock were outstanding at March 31, 2014 and 2013, respectively. | |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||
(13) Stock-Based Compensation | ||||||||||||||||
Stock Option Plans | ||||||||||||||||
As of March 31, 2014, we had 1,100,000 shares of common stock authorized and 14,870 shares of common stock available for future grant to employees and consultants under our 2012 Equity Incentive Plan (“Plan”). The term of the 2012 Plan is ten years. Under the 2012 Plan, the exercise price of each option is set at the fair value of the common stock on the date of grant and the maximum term of the option is ten years from the date of grant. Options granted to employees generally have a ten year term and vest ratably over a three-year period. The maximum number of options that may be granted to an employee under the Plan in any calendar year is 500,000 options. Forfeitures under the Plan are available for re-issuance at any time prior to expiration of the Plan in 2022. Options granted under the Plan to employees require the option holder to abide by certain Company policies, which restrict their ability to sell the underlying common stock. Prior to the adoption of the 2012 Plan, we issued stock options under our 2002 Equity Incentive Plan. Forfeitures under the 2002 Equity Incentive Plan may not be re-issued. | ||||||||||||||||
We also have a Stock Option Plan for Non-Employee Directors (“Directors Plan”) pursuant to which Directors may elect to receive stock options in lieu of cash compensation for their services as directors. As of March 31, 2014, we had 1,000,000 shares of common stock authorized and 224,173 shares of common stock available for future grant under the Directors Plan. Option terms range from three to ten years from the date of grant. Option exercise prices are equal to the fair value of the common shares on the date of grant. Options granted under the plan vest immediately. Forfeitures under the Directors Plan are available for re-issuance at a future date. | ||||||||||||||||
Stock Bonus Plan | ||||||||||||||||
We have a Stock Bonus Plan (“Stock Plan”) administered by the Board of Directors. As of March 31, 2014, we had 1,954,994 shares of common stock authorized and there were 47,149 shares of common stock available for future grant under the Stock Plan. Under the Stock Plan, shares of common stock may be granted to employees, key consultants, and directors who are not employees as additional compensation for services rendered. Vesting requirements for grants under the Stock Plan, if any, are determined by the Board of Directors at the time of grant. | ||||||||||||||||
Stock Purchase Plan | ||||||||||||||||
We have established a Stock Purchase Plan under which eligible employees may contribute up to 10 percent of their compensation to purchase shares of our common stock at 85 percent of the fair market value at specified dates. At March 31, 2014, we had 700,000 shares of common stock authorized and 307,650 shares of common stock available for issuance under the Stock Purchase Plan. | ||||||||||||||||
Share-Based Compensation Expense | ||||||||||||||||
We use the straight-line attribution method to recognize share-based compensation costs over the requisite service period of the award. The exercise price of options is equal to the market price of our common stock (defined as the closing price reported by the NYSE MKT) on the date of grant. We adjust share-based compensation on a quarterly basis for changes to the estimate of expected equity award forfeitures based on actual forfeiture experience. The effect of adjusting the forfeiture rate for all expense amortization is recognized in the period the forfeiture estimate is changed. The effect of forfeiture adjustments during the years ended March 31, 2014, 2013 and 2012 was insignificant. | ||||||||||||||||
We use the Black-Scholes-Merton option pricing model for estimating the fair value of stock option awards. The expected volatility and the expected life of options granted are based on historical experience, and the risk free interest rate is obtained from the U.S. Department of the Treasury daily yield curve rates. The weighted average estimated values of employee and director stock option grants, as well as the weighted average assumptions that were used in calculating such values during the years ended March 31, 2014, 2013 and 2012, were based on estimates at the date of grant as follows: | ||||||||||||||||
Year Ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Weighted average estimated | ||||||||||||||||
fair value of grant | $ | 0.68 | per option | $ | 0.56 | per option | $ | 1.46 | per option | |||||||
Expected life (in years) | 4.8 | years | 6.3 | years | 5.8 | years | ||||||||||
Risk free interest rate | 2.30 | % | 1.30 | % | 2.59 | % | ||||||||||
Expected volatility | 73.91 | % | 72.80 | % | 73.96 | % | ||||||||||
Expected dividend yield | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||
Total share-based compensation expense and the classification of these expenses for the last three fiscal years were as follows: | ||||||||||||||||
Year Ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Costs of contract services | $ | 18,738 | $ | 19,898 | $ | 21,592 | ||||||||||
Costs of product sales | 40,559 | 42,313 | 98,807 | |||||||||||||
Research and development | 8,981 | 2,998 | 1,110 | |||||||||||||
Production engineering | 140,811 | 146,317 | 193,474 | |||||||||||||
Selling, general and administrative | 580,782 | 958,823 | 617,919 | |||||||||||||
$ | 789,871 | $ | 1,170,349 | $ | 932,902 | |||||||||||
Stock Option Plans Activity | ||||||||||||||||
Additional information with respect to stock option activity during the year ended March 31, 2014 under our Stock Option Plans is as follows: | ||||||||||||||||
Weighted- | ||||||||||||||||
Weighted- | Average | |||||||||||||||
Shares | Average | Remaining | Aggregate | |||||||||||||
Under | Exercise | Contractual | Intrinsic | |||||||||||||
Option | Price | Life | Value | |||||||||||||
Outstanding at April 1, 2013 | 4,251,695 | $ | 2.14 | 4.7 years | $ | - | ||||||||||
Granted | 89,340 | $ | 1.11 | |||||||||||||
Exercised | -20,146 | $ | 1.05 | $ | 27,462 | |||||||||||
Forfeited | -990,314 | $ | 2.62 | |||||||||||||
Outstanding at March 31, 2014 | 3,330,575 | $ | 1.98 | 4.8 years | $ | 2,931,885 | ||||||||||
Exercisable at March 31, 2014 | 2,634,589 | $ | 2.21 | 3.9 years | $ | 1,848,784 | ||||||||||
Vested and expected to vest at March 31, 2014 | 3,306,339 | $ | 1.98 | 4.8 years | $ | 2,891,654 | ||||||||||
Additional information with respect to stock option activity during the year ended March 31, 2013 under our Stock Option Plans is as follows: | ||||||||||||||||
Weighted- | ||||||||||||||||
Weighted- | Average | |||||||||||||||
Shares | Average | Remaining | Aggregate | |||||||||||||
Under | Exercise | Contractual | Intrinsic | |||||||||||||
Option | Price | Life | Value | |||||||||||||
Outstanding at April 1, 2012 | 3,228,210 | $ | 2.78 | 3.9 years | $ | - | ||||||||||
Granted | 1,418,792 | $ | 0.87 | |||||||||||||
Exercised | - | $ | - | $ | - | |||||||||||
Forfeited | -395,307 | $ | 2.83 | |||||||||||||
Outstanding at March 31, 2013 | 4,251,695 | $ | 2.14 | 4.7 years | $ | - | ||||||||||
Exercisable at March 31, 2013 | 3,098,868 | $ | 2.48 | 3.2 years | $ | - | ||||||||||
Vested and expected to vest at March 31, 2013 | 4,194,686 | $ | 2.15 | 4.7 years | $ | - | ||||||||||
Additional information with respect to stock option activity during the year ended March 31, 2012 under our Stock Option Plans is as follows: | ||||||||||||||||
Weighted- | ||||||||||||||||
Weighted- | Average | |||||||||||||||
Shares | Average | Remaining | Aggregate | |||||||||||||
Under | Exercise | Contractual | Intrinsic | |||||||||||||
Option | Price | Life | Value | |||||||||||||
Outstanding at April 1, 2011 | 2,960,277 | $ | 2.99 | 3.7 years | $ | 1,109,521 | ||||||||||
Granted | 569,710 | $ | 2.29 | |||||||||||||
Exercised | - | $ | - | $ | - | |||||||||||
Forfeited | -301,777 | $ | 3.84 | |||||||||||||
Outstanding at March 31, 2012 | 3,228,210 | $ | 2.78 | 3.9 years | $ | - | ||||||||||
Exercisable at March 31, 2012 | 2,559,488 | $ | 2.82 | 2.8 years | $ | - | ||||||||||
Vested and expected to vest at March 31, 2012 | 3,200,983 | $ | 2.78 | 3.8 years | $ | - | ||||||||||
The weighted-average grant date fair value of options granted during the years ended March 31, 2014, 2013 and 2012 was $0.68, $0.56 and $1.46, respectively. | ||||||||||||||||
As of March 31, 2014, there was $271,804 of total unrecognized compensation costs related to stock options granted under our Stock Option Plans. The unrecognized compensation cost is expected to be recognized over a weighted-average period of fourteen months. The total fair value of stock options that vested during the years ended March 31, 2014, 2013 and 2012 was $493,271, $885,916 and $513,236, respectively. | ||||||||||||||||
Cash received by us upon the exercise of stock options for the years ended March 31, 2014, 2013 and 2012 was $21,075, zero and zero, respectively. The source of shares of common stock issuable upon the exercise of stock options is from authorized and previously unissued common shares. | ||||||||||||||||
Stock Bonus Plan Activity | ||||||||||||||||
Activity with respect to non-vested shares under the Stock Bonus Plan as of March 31, 2014, 2013 and 2012 and changes during the years ended March 31, 2014, 2013 and 2012 are presented below: | ||||||||||||||||
Year Ended March 31, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Shares | Weighted-Average | Shares | Weighted-Average | Shares | Weighted-Average | |||||||||||
Under | Grant Date | Under | Grant Date | Under | Grant Date | |||||||||||
Contract | Fair Value | Contract | Fair Value | Contract | Fair Value | |||||||||||
Non-vested at April 1 | 358,855 | $ | 1.22 | 167,680 | $ | 2.44 | 62,199 | $ | 2.50 | |||||||
Granted | 452,195 | $ | 1.18 | 454,866 | $ | 0.87 | 213,398 | $ | 2.34 | |||||||
Vested | -166,231 | $ | 1.34 | -263,691 | $ | 1.39 | -107,917 | $ | 2.28 | |||||||
Forfeited | -3,840 | $ | 1.25 | - | $ | - | - | $ | - | |||||||
Non-vested at March 31 | 640,979 | $ | 1.17 | 358,855 | $ | 1.22 | 167,680 | $ | 2.44 | |||||||
As of March 31, 2014, there was $490,759 of total unrecognized compensation costs related to common stock granted under our Stock Bonus Plan. The unrecognized compensation cost at March 31, 2014 is expected to be recognized over a weighted-average period of twenty-two months. | ||||||||||||||||
Stock Purchase Plan Activity | ||||||||||||||||
During the years ended March 31, 2014, 2013 and 2012, we issued 62,421, 85,550 and 41,158 shares of common stock, respectively, under the Stock Purchase Plan. Cash received by us upon the purchase of shares under the Stock Purchase Plan for the years ended March 31, 2014, 2013 and 2012 was $60,689, $75,385 and $60,960, respectively. | ||||||||||||||||
Significant_Customers
Significant Customers | 12 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Significant Customers [Abstract] | ' | |||||||||||||||||
Significant Customers | ' | |||||||||||||||||
(14) Significant Customers | ||||||||||||||||||
We have historically derived significant revenue from a few key customers. The following table summarizes revenue and percent of total revenue from significant customers for the fiscal years ended March 31, 2014, 2013 and 2012: | ||||||||||||||||||
Fiscal Year Ended March 31, | ||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||
Customer A | $ | 880,145 | 12 | % | $ | 1,078,930 | 15 | % | $ | 684,489 | 7 | % | ||||||
Customer B | $ | 727,683 | 10 | % | $ | 1,494,024 | 21 | % | $ | 41,388 | - | % | ||||||
Customer C | $ | 615,081 | 9 | % | $ | 816,779 | 11 | % | $ | 747,924 | 7 | % | ||||||
Customer D | $ | 50,050 | 1 | % | $ | 728,000 | 10 | % | $ | 455,000 | 4 | % | ||||||
Customer E | $ | - | - | % | $ | 191,983 | 3 | % | $ | 4,313,728 | 43 | % | ||||||
The following table summarizes accounts receivable from significant customers as of March 31, 2014 and 2013: | ||||||||||||||||||
31-Mar-14 | 31-Mar-13 | |||||||||||||||||
Customer A | 71 | % | 77 | % | ||||||||||||||
Customer B | 2 | % | 3 | % | ||||||||||||||
Customer C | 10 | % | 5 | % | ||||||||||||||
Customer D | - | % | - | % | ||||||||||||||
Customer E | - | % | - | % | ||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
(15) Income Taxes | |||||||||
Income tax benefit attributable to loss from operations differed from the amounts computed by applying the U.S. federal income tax rate of 34 percent as a result of the following: | |||||||||
Year Ended | Year Ended | Year Ended | |||||||
31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |||||||
Computed "expected" tax benefit | $ | -942,903 | $ | -3,634,026 | $ | -1,675,697 | |||
Increase (decrease) in taxes resulting from: | |||||||||
Adjustment of expiring net operating loss | |||||||||
carry-forwards | - | 1,364,055 | 382,741 | ||||||
Increase (decrease) in valuation allowance for | |||||||||
net deferred tax assets | 875,016 | 2,295,702 | 1,222,257 | ||||||
Other, net | 67,887 | -25,731 | 70,699 | ||||||
Income tax benefit | $ | - | $ | - | $ | - | |||
The tax effects of temporary difference that give rise to significant portions of the net deferred tax asset are presented below: | |||||||||
31-Mar-14 | 31-Mar-13 | ||||||||
Deferred tax assets: | |||||||||
Research and development credit carry-forwards | $ | 4,073 | $ | 4,073 | |||||
Net operating loss carry-forwards | 24,328,101 | 22,998,447 | |||||||
Deferred compensation | 75,384 | 242,840 | |||||||
Property and equipment | 108,314 | 297,144 | |||||||
Intangible assets | - | 64,994 | |||||||
Stock Compensation | 952,978 | 847,069 | |||||||
Other | 666,505 | 757,382 | |||||||
Total deferred tax assets | 26,135,355 | 25,211,949 | |||||||
Deferred tax liabilities: | |||||||||
Intangible assets | 48,390 | - | |||||||
Total deferred tax liabilities | 48,390 | - | |||||||
Net deferred tax assets | 26,086,965 | 25,211,949 | |||||||
Less valuation allowance | -26,086,965 | -25,211,949 | |||||||
Deferred tax assets, net of valuation allowance | $ | - | $ | - | |||||
As of March 31, 2014 and March 31, 2013, respectively, we had net operating loss (“NOL”) carry-forwards of approximately $70.9 million and $67.3 million for U.S. income tax purposes that expire in varying amounts through 2034. Approximately $5.3 million of the net operating loss carry-forwards are attributable to stock options, the benefit of which will be credited to additional paid-in capital if realized. However, due to the provisions of Section 382 of the Internal Revenue Code, the utilization of a portion of these NOLs may be limited. Future ownership changes under Section 382 could occur that would result in additional Section 382 limitations, which could further restrict the use of NOLs. In addition, any Section 382 limitation could reduce our ability for utilization to zero if we fail to satisfy the continuity of business enterprise requirement for the two-year period following an ownership change. | |||||||||
The valuation allowance for deferred tax assets of $26.1 million and $25.2 million at March 31, 2014 and 2013, respectively, relates principally to the uncertainty of the utilization of deferred tax assets in various tax jurisdictions. The Company continually assesses both positive and negative evidence to determine whether it is more-likely-than-not that the deferred tax assets can be realized prior to their expiration. Based on the Company’s assessment it has determined the deferred tax assets are not currently realizable. | |||||||||
We have not recorded any potential liability for uncertain tax positions taken on our tax returns. | |||||||||
We may, from time to time, be assessed interest or penalties by major tax jurisdictions, although any such assessments historically have been minimal and immaterial to our financial results. Penalties are recorded in selling, general and administrative expenses and interest paid or received is recorded in interest expense or interest income, respectively, in the consolidated statements of operations. | |||||||||
401K_Employee_Benefit_Plan
401K Employee Benefit Plan | 12 Months Ended |
Mar. 31, 2014 | |
401(k) Employee Benefit Plan [Abstract] | ' |
401(k) Employee Benefit Plan | ' |
(16) 401(k) Employee Benefit Plan | |
We have established a 401(k) Savings Plan (“401K Plan”) under which eligible employees may contribute up to 15 percent of their compensation. Employees over the age of 18 are eligible immediately upon hire to participate in the 401K Plan. At the direction of the participants, contributions are invested in several investment options offered by the 401K Plan. We currently match 33 percent of participants’ contributions, subject to certain limitations. These matching contributions vest ratably over a three-year period. Matching contributions to the 401K Plan were $132,471, $149,311, and $135,825, for the years ended March 31, 2014, 2013, and 2012, respectively. | |
Interim_Financial_Data_Unaudit
Interim Financial Data Unaudited | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Interim Financial Data [Abstract] | ' | ||||||||||||
Interim Financial Data | ' | ||||||||||||
(17) Interim Financial Data (Unaudited) | |||||||||||||
Quarters Ended | |||||||||||||
30-Jun | 30-Sep | 31-Dec | 31-Mar | ||||||||||
Fiscal year 2014 | |||||||||||||
Sales | $ | 1,948,511 | $ | 2,041,958 | $ | 2,040,249 | $ | 1,015,482 | |||||
Gross profit | $ | 662,242 | $ | 848,563 | $ | 832,886 | $ | 350,413 | |||||
Net loss | $ | -916,354 | $ | -412,269 | $ | -65,913 | $ | -1,378,708 | |||||
Net loss per common share basic and diluted: | $ | -0.02 | $ | -0.01 | $ | 0.00 | $ | -0.04 | |||||
Quarters Ended | |||||||||||||
30-Jun | 30-Sep | 31-Dec | 31-Mar | ||||||||||
Fiscal year 2013 | |||||||||||||
Sales | $ | 2,396,428 | $ | 1,196,104 | $ | 1,928,070 | $ | 1,658,107 | |||||
Gross profit | $ | 930,489 | $ | 463,891 | $ | 276,594 | $ | 459,505 | |||||
Net loss | $ | -1,287,434 | $ | -2,563,548 | $ | -4,555,033 | $ | -2,282,297 | |||||
Net loss per common share basic and diluted: | $ | -0.04 | $ | -0.07 | $ | -0.12 | $ | -0.06 | |||||
Recovered_Sheet1
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||||
Schedule Of Amortized Cost And Unrealized Gains (Losses) On Investments | ' | |||||||||||||
31-Mar-14 | 31-Mar-13 | |||||||||||||
Amortized Cost | Gain (Loss) | Amortized Cost | Gain (Loss) | |||||||||||
Short-term investments: | ||||||||||||||
Certificate of deposit | $ | 63,029 | $ | - | $ | - | $ | - | ||||||
63,029 | - | - | - | |||||||||||
Long-term investments: | ||||||||||||||
Certificate of deposit (included in other assets) | - | - | 62,436 | - | ||||||||||
$ | 63,029 | $ | - | $ | 62,436 | $ | - | |||||||
Investments Classified By Contractual Maturity Date | ' | |||||||||||||
31-Mar-14 | 31-Mar-13 | |||||||||||||
Three to six months | $ | - | $ | - | ||||||||||
Six months to one year | 63,029 | - | ||||||||||||
Over one year | - | 62,436 | ||||||||||||
$ | 63,029 | $ | 62,436 | |||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Accounts Receivables) (Tables) | 12 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Warranty Reserves [Member] | ' | |||||||||||||||
Schedule of Valuation and Qualifying Accounts | ' | |||||||||||||||
Additions | ||||||||||||||||
Balance at | Charged to | Charged to | ||||||||||||||
Beginning | Costs and | Other | Balance at | |||||||||||||
of Year | Expenses | Accounts | Deductions | End of Year | ||||||||||||
Year ended March 31, 2014 | ||||||||||||||||
Accrued warranty cost | $ | 77,393 | 164,567 | - | 66,299 | (A) | $ | 175,661 | ||||||||
Year ended March 31, 2013 | ||||||||||||||||
Accrued warranty cost | $ | 154,978 | 58,676 | - | 136,261 | (A) | $ | 77,393 | ||||||||
Year ended March 31, 2012 | ||||||||||||||||
Accrued warranty cost | $ | 89,463 | 196,815 | - | 131,300 | (A) | $ | 154,978 | ||||||||
Note (A) Represents actual warranty payments for units returned under warranty | ||||||||||||||||
Allowance for Doubtful Accounts [Member] | ' | |||||||||||||||
Schedule of Valuation and Qualifying Accounts | ' | |||||||||||||||
Additions | ||||||||||||||||
Balance at | Charged to | Charged to | ||||||||||||||
Beginning | Costs and | Other | Balance at | |||||||||||||
of Year | Expenses | Accounts | Deductions | End of Year | ||||||||||||
Year ended March 31, 2014 | ||||||||||||||||
Allowance for doubtful accounts- deducted | ||||||||||||||||
from accounts receivable | $ | 3,838,092 | - | - | 3,838,092 | $ | - | |||||||||
Year ended March 31, 2013 | ||||||||||||||||
Allowance for doubtful accounts- deducted | ||||||||||||||||
from accounts receivable | $ | 127,697 | 3,838,092 | - | 127,697 | $ | 3,838,092 | |||||||||
Year ended March 31, 2012 | ||||||||||||||||
Allowance for doubtful accounts- deducted | - | |||||||||||||||
from accounts receivable | $ | - | 127,697 | - | $ | 127,697 | ||||||||||
Contracts_In_Process_Tables
Contracts In Process (Tables) | 12 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Contracts In Process [Abstract] | ' | |||||||
Summary Of Contract In Process | ' | |||||||
31-Mar-14 | 31-Mar-13 | |||||||
Costs incurred on uncompleted contracts | $ | 1,549,313 | $ | 838,246 | ||||
Estimated earnings | 670,596 | 515,299 | ||||||
2,219,909 | 1,353,545 | |||||||
Less billings to date | -1,878,654 | -1,175,281 | ||||||
Costs and estimated earnings in excess of billings | ||||||||
on uncompleted contracts | $ | 341,255 | $ | 178,264 | ||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Inventories [Abstract] | ' | ||||||
Schedule Of Inventories | ' | ||||||
31-Mar-14 | 31-Mar-13 | ||||||
Raw materials | $ | 7,537,189 | $ | 8,097,342 | |||
Work-in-process | 84,178 | 356,696 | |||||
Finished products | 2,433,055 | 2,544,423 | |||||
$ | 10,054,422 | $ | 10,998,461 | ||||
Patents_and_Trademarks_Tables
Patents and Trademarks (Tables) | 12 Months Ended | |||||
Mar. 31, 2014 | ||||||
Patents And Trademarks [Abstract] | ' | |||||
Future Amortization Expense | ' | |||||
Patents | Trademarks | |||||
2015 | $ | 20,430 | $ | 4,487 | ||
2016 | 15,466 | 4,487 | ||||
2017 | 15,466 | 4,487 | ||||
2018 | 15,028 | 4,487 | ||||
2019 | 11,486 | 4,487 | ||||
Thereafter | 149,139 | 84,688 | ||||
$ | 227,015 | $ | 107,123 | |||
Government_Grants_Tables
Government Grants (Tables) | 12 Months Ended | |||||||||
Mar. 31, 2014 | ||||||||||
Government Grants [Abstract] | ' | |||||||||
Schedule Of Capital Asset Purchases, Partially Funded By Government Grants | ' | |||||||||
31-Mar-14 | ||||||||||
Purchase Cost | Grant Funding | Recorded Value | ||||||||
Land | $ | 896,388 | $ | 448,194 | $ | 448,194 | ||||
Building | 9,906,736 | 4,953,368 | 4,953,368 | |||||||
Machinery and equipment | 7,946,910 | 3,973,455 | 3,973,455 | |||||||
$ | 18,750,034 | $ | 9,375,017 | $ | 9,375,017 | |||||
31-Mar-13 | ||||||||||
Purchase Cost | Grant Funding | Recorded Value | ||||||||
Land | $ | 896,388 | $ | 448,194 | $ | 448,194 | ||||
Building | 9,906,736 | 4,953,368 | 4,953,368 | |||||||
Machinery and equipment | 7,581,408 | 3,790,704 | 3,790,704 | |||||||
$ | 18,384,532 | $ | 9,192,266 | $ | 9,192,266 | |||||
Other_Current_Liabilities_Tabl
Other Current Liabilities (Tables) | 12 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Other Current Liabilities [Abstract] | ' | ||||||
Schedule Of Other Current Liabilities | ' | ||||||
31-Mar-14 | 31-Mar-13 | ||||||
Accrued payroll and employee benefits | $ | 164,334 | $ | 174,135 | |||
Accrued personal property and real estate taxes | 227,022 | 264,814 | |||||
Accrued warranty costs | 175,661 | 77,393 | |||||
Unearned revenue | 5,416 | 71,442 | |||||
Accrued royalties | 48,336 | 48,336 | |||||
Accrued import duties | 87,100 | 813,740 | |||||
Accrued vendor settlements | 774,974 | 1,050,000 | |||||
Other | 8,902 | 99,575 | |||||
$ | 1,491,745 | $ | 2,599,435 | ||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | |||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | ' | ||||||||||||||||||||||||||||
Liabilities Measured At Fair Value On A Recurring Basis | ' | ' | ||||||||||||||||||||||||||||
Liabilities measured at fair value on a recurring basis as of March 31, 2014 are summarized below: | Liabilities measured at fair value on a recurring basis as of March 31, 2013 are summarized below: | |||||||||||||||||||||||||||||
Fair Value at Reporting Date Using | Fair Value at Reporting Date Using | |||||||||||||||||||||||||||||
Quoted Prices | Quoted Prices | |||||||||||||||||||||||||||||
In Active | Significant | In Active | Significant | |||||||||||||||||||||||||||
Markets | Other | Significant | Markets | Other | Significant | |||||||||||||||||||||||||
For Identical | Observable | Unobservable | For Identical | Observable | Unobservable | |||||||||||||||||||||||||
Liabilities | Inputs | Inputs | Liabilities | Inputs | Inputs | |||||||||||||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||
Deferred compensation under | Deferred compensation under | |||||||||||||||||||||||||||||
executive employment agreements (1) | $ | 182,100 | - | - | $ | 182,100 | executive employment agreements (1) | $ | 627,412 | - | - | $ | 627,412 | |||||||||||||||||
Note (1) Included in current liabilities on our consolidated balance sheet as of March 31, 2014. | Note (1) $524,000 included in current liabilities and $103,412 included in long term liabilities on our consolidated balance sheet as of March 31, 2013. | |||||||||||||||||||||||||||||
Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation | ' | ' | ||||||||||||||||||||||||||||
Fair Value Measurements Using Significant | ||||||||||||||||||||||||||||||
Unobservable Inputs (Level 3) for the | ||||||||||||||||||||||||||||||
Fiscal Year Ended March 31, | ||||||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||||||
Deferred | Deferred | |||||||||||||||||||||||||||||
Compensation | Compensation | |||||||||||||||||||||||||||||
On Executive | On Executive | |||||||||||||||||||||||||||||
Employment | Employment | |||||||||||||||||||||||||||||
Agreements | Agreements | |||||||||||||||||||||||||||||
Balance at beginning of period | $ | 627,412 | $ | 715,107 | ||||||||||||||||||||||||||
Transfers into Level 3 | - | - | ||||||||||||||||||||||||||||
Transfers out of Level 3 | - | - | ||||||||||||||||||||||||||||
Total gains or losses (realized and unrealized): | ||||||||||||||||||||||||||||||
Included in earnings | 78,688 | 64,312 | ||||||||||||||||||||||||||||
Included in other comprehensive income | - | - | ||||||||||||||||||||||||||||
Settlements | -524,000 | -152,007 | ||||||||||||||||||||||||||||
Balance at the end of period | $ | 182,100 | $ | 627,412 | ||||||||||||||||||||||||||
Loss for the period included in earnings | ||||||||||||||||||||||||||||||
attributable to the Level 3 liability still | ||||||||||||||||||||||||||||||
held at the end of the period | $ | 78,688 | $ | 64,312 | ||||||||||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | ||||||||||||||||||||||||||||||||||||
Stock-Based Compensation [Abstract] | ' | ' | ' | |||||||||||||||||||||||||||||||||||
Stock Options, Valuation Assumptions | ' | ' | ' | |||||||||||||||||||||||||||||||||||
Year Ended March 31, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Weighted average estimated | ||||||||||||||||||||||||||||||||||||||
fair value of grant | $ | 0.68 | per option | $ | 0.56 | per option | $ | 1.46 | per option | |||||||||||||||||||||||||||||
Expected life (in years) | 4.8 | years | 6.3 | years | 5.8 | years | ||||||||||||||||||||||||||||||||
Risk free interest rate | 2.30 | % | 1.30 | % | 2.59 | % | ||||||||||||||||||||||||||||||||
Expected volatility | 73.91 | % | 72.80 | % | 73.96 | % | ||||||||||||||||||||||||||||||||
Expected dividend yield | 0.00 | % | 0.00 | % | 0.00 | % | ||||||||||||||||||||||||||||||||
Schedule Of Share-Based Compensation Expense | ' | ' | ' | |||||||||||||||||||||||||||||||||||
Year Ended March 31, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Costs of contract services | $ | 18,738 | $ | 19,898 | $ | 21,592 | ||||||||||||||||||||||||||||||||
Costs of product sales | 40,559 | 42,313 | 98,807 | |||||||||||||||||||||||||||||||||||
Research and development | 8,981 | 2,998 | 1,110 | |||||||||||||||||||||||||||||||||||
Production engineering | 140,811 | 146,317 | 193,474 | |||||||||||||||||||||||||||||||||||
Selling, general and administrative | 580,782 | 958,823 | 617,919 | |||||||||||||||||||||||||||||||||||
$ | 789,871 | $ | 1,170,349 | $ | 932,902 | |||||||||||||||||||||||||||||||||
Summary Of Stock Option Activity | ' | ' | ' | |||||||||||||||||||||||||||||||||||
Weighted- | Weighted- | Weighted- | ||||||||||||||||||||||||||||||||||||
Weighted- | Average | Weighted- | Average | Weighted- | Average | |||||||||||||||||||||||||||||||||
Shares | Average | Remaining | Aggregate | Shares | Average | Remaining | Aggregate | Shares | Average | Remaining | Aggregate | |||||||||||||||||||||||||||
Under | Exercise | Contractual | Intrinsic | Under | Exercise | Contractual | Intrinsic | Under | Exercise | Contractual | Intrinsic | |||||||||||||||||||||||||||
Option | Price | Life | Value | Option | Price | Life | Value | Option | Price | Life | Value | |||||||||||||||||||||||||||
Outstanding at April 1, 2013 | 4,251,695 | $ | 2.14 | 4.7 years | $ | - | Outstanding at April 1, 2012 | 3,228,210 | $ | 2.78 | 3.9 years | $ | - | Outstanding at April 1, 2011 | 2,960,277 | $ | 2.99 | 3.7 years | $ | 1,109,521 | ||||||||||||||||||
Granted | 89,340 | $ | 1.11 | Granted | 1,418,792 | $ | 0.87 | Granted | 569,710 | $ | 2.29 | |||||||||||||||||||||||||||
Exercised | -20,146 | $ | 1.05 | $ | 27,462 | Exercised | - | $ | - | $ | - | Exercised | - | $ | - | $ | - | |||||||||||||||||||||
Forfeited | -990,314 | $ | 2.62 | Forfeited | -395,307 | $ | 2.83 | Forfeited | -301,777 | $ | 3.84 | |||||||||||||||||||||||||||
Outstanding at March 31, 2014 | 3,330,575 | $ | 1.98 | 4.8 years | $ | 2,931,885 | Outstanding at March 31, 2013 | 4,251,695 | $ | 2.14 | 4.7 years | $ | - | Outstanding at March 31, 2012 | 3,228,210 | $ | 2.78 | 3.9 years | $ | - | ||||||||||||||||||
Exercisable at March 31, 2014 | 2,634,589 | $ | 2.21 | 3.9 years | $ | 1,848,784 | Exercisable at March 31, 2013 | 3,098,868 | $ | 2.48 | 3.2 years | $ | - | Exercisable at March 31, 2012 | 2,559,488 | $ | 2.82 | 2.8 years | $ | - | ||||||||||||||||||
Vested and expected to vest at March 31, 2014 | 3,306,339 | $ | 1.98 | 4.8 years | $ | 2,891,654 | Vested and expected to vest at March 31, 2013 | 4,194,686 | $ | 2.15 | 4.7 years | $ | - | Vested and expected to vest at March 31, 2012 | 3,200,983 | $ | 2.78 | 3.8 years | $ | - | ||||||||||||||||||
Schedule Of Nonvested Share Activity | ' | ' | ' | |||||||||||||||||||||||||||||||||||
Year Ended March 31, | ||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||
Shares | Weighted-Average | Shares | Weighted-Average | Shares | Weighted-Average | |||||||||||||||||||||||||||||||||
Under | Grant Date | Under | Grant Date | Under | Grant Date | |||||||||||||||||||||||||||||||||
Contract | Fair Value | Contract | Fair Value | Contract | Fair Value | |||||||||||||||||||||||||||||||||
Non-vested at April 1 | 358,855 | $ | 1.22 | 167,680 | $ | 2.44 | 62,199 | $ | 2.50 | |||||||||||||||||||||||||||||
Granted | 452,195 | $ | 1.18 | 454,866 | $ | 0.87 | 213,398 | $ | 2.34 | |||||||||||||||||||||||||||||
Vested | -166,231 | $ | 1.34 | -263,691 | $ | 1.39 | -107,917 | $ | 2.28 | |||||||||||||||||||||||||||||
Forfeited | -3,840 | $ | 1.25 | - | $ | - | - | $ | - | |||||||||||||||||||||||||||||
Non-vested at March 31 | 640,979 | $ | 1.17 | 358,855 | $ | 1.22 | 167,680 | $ | 2.44 | |||||||||||||||||||||||||||||
Significant_Customers_Tables
Significant Customers (Tables) | 12 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Sales Revenue, Goods, Net [Member] | ' | |||||||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | ' | |||||||||||||||||
Fiscal Year Ended March 31, | ||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||
Customer A | $ | 880,145 | 12 | % | $ | 1,078,930 | 15 | % | $ | 684,489 | 7 | % | ||||||
Customer B | $ | 727,683 | 10 | % | $ | 1,494,024 | 21 | % | $ | 41,388 | - | % | ||||||
Customer C | $ | 615,081 | 9 | % | $ | 816,779 | 11 | % | $ | 747,924 | 7 | % | ||||||
Customer D | $ | 50,050 | 1 | % | $ | 728,000 | 10 | % | $ | 455,000 | 4 | % | ||||||
Customer E | $ | - | - | % | $ | 191,983 | 3 | % | $ | 4,313,728 | 43 | % | ||||||
Accounts Receivable [Member] | ' | |||||||||||||||||
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | ' | |||||||||||||||||
31-Mar-14 | 31-Mar-13 | |||||||||||||||||
Customer A | 71 | % | 77 | % | ||||||||||||||
Customer B | 2 | % | 3 | % | ||||||||||||||
Customer C | 10 | % | 5 | % | ||||||||||||||
Customer D | - | % | - | % | ||||||||||||||
Customer E | - | % | - | % | ||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Schedule of Income Tax Benefit | ' | ||||||||
Year Ended | Year Ended | Year Ended | |||||||
31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |||||||
Computed "expected" tax benefit | $ | -942,903 | $ | -3,634,026 | $ | -1,675,697 | |||
Increase (decrease) in taxes resulting from: | |||||||||
Adjustment of expiring net operating loss | |||||||||
carry-forwards | - | 1,364,055 | 382,741 | ||||||
Increase (decrease) in valuation allowance for | |||||||||
net deferred tax assets | 875,016 | 2,295,702 | 1,222,257 | ||||||
Other, net | 67,887 | -25,731 | 70,699 | ||||||
Income tax benefit | $ | - | $ | - | $ | - | |||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||
31-Mar-14 | 31-Mar-13 | ||||||||
Deferred tax assets: | |||||||||
Research and development credit carry-forwards | $ | 4,073 | $ | 4,073 | |||||
Net operating loss carry-forwards | 24,328,101 | 22,998,447 | |||||||
Deferred compensation | 75,384 | 242,840 | |||||||
Property and equipment | 108,314 | 297,144 | |||||||
Intangible assets | - | 64,994 | |||||||
Stock Compensation | 952,978 | 847,069 | |||||||
Other | 666,505 | 757,382 | |||||||
Total deferred tax assets | 26,135,355 | 25,211,949 | |||||||
Deferred tax liabilities: | |||||||||
Intangible assets | 48,390 | - | |||||||
Total deferred tax liabilities | 48,390 | - | |||||||
Net deferred tax assets | 26,086,965 | 25,211,949 | |||||||
Less valuation allowance | -26,086,965 | -25,211,949 | |||||||
Deferred tax assets, net of valuation allowance | $ | - | $ | - | |||||
Interim_Financial_Data_Unaudit1
Interim Financial Data Unaudited (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Interim Financial Data [Abstract] | ' | ||||||||||||
Schedule of Interim Financial Data | ' | ||||||||||||
Quarters Ended | |||||||||||||
30-Jun | 30-Sep | 31-Dec | 31-Mar | ||||||||||
Fiscal year 2014 | |||||||||||||
Sales | $ | 1,948,511 | $ | 2,041,958 | $ | 2,040,249 | $ | 1,015,482 | |||||
Gross profit | $ | 662,242 | $ | 848,563 | $ | 832,886 | $ | 350,413 | |||||
Net loss | $ | -916,354 | $ | -412,269 | $ | -65,913 | $ | -1,378,708 | |||||
Net loss per common share basic and diluted: | $ | -0.02 | $ | -0.01 | $ | 0.00 | $ | -0.04 | |||||
Quarters Ended | |||||||||||||
30-Jun | 30-Sep | 31-Dec | 31-Mar | ||||||||||
Fiscal year 2013 | |||||||||||||
Sales | $ | 2,396,428 | $ | 1,196,104 | $ | 1,928,070 | $ | 1,658,107 | |||||
Gross profit | $ | 930,489 | $ | 463,891 | $ | 276,594 | $ | 459,505 | |||||
Net loss | $ | -1,287,434 | $ | -2,563,548 | $ | -4,555,033 | $ | -2,282,297 | |||||
Net loss per common share basic and diluted: | $ | -0.04 | $ | -0.07 | $ | -0.12 | $ | -0.06 | |||||
Recovered_Sheet2
Summary Of Significant Accounting Policies (Schedule Of Amortized Cost And Unrealized Gains (Losses) On Investments) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Short-term investments, Amortized Cost | $63,029 | ' |
Long-term investments, Amortized Cost | ' | 62,436 |
Held-to-maturity securities, Amortized Cost | 63,029 | 62,436 |
Unrealized Gain | ' | ' |
Certificates Of Deposit [Member] | ' | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' | ' |
Short-term investments, Amortized Cost | 63,029 | ' |
Long-term investments, Amortized Cost | ' | 62,436 |
Unrealized Gain | ' | ' |
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Investments Classified By Contractual Maturity Date) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Accounting Policies [Abstract] | ' | ' |
Six months to one year | $63,029 | ' |
Over one year | ' | 62,436 |
Held-to-maturity securities, Amortized Cost | $63,029 | $62,436 |
Summary_Of_Significant_Account3
Summary Of Significant Accounting Policies (Accounts Receivables) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Accounting Policies [Abstract] | ' | ' |
Allowance for doubtful accounts | $0 | $3,838,092 |
Recovered_Sheet3
Summary of Significant Accounting Policies (Accounts Receivables) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Warranty Reserves [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | $77,393 | $154,978 | $89,463 |
Charged to Costs and Expenses | 164,567 | 58,676 | 196,815 |
Deductions | 66,299 | 136,261 | 131,300 |
Balance at End of Year | 175,661 | 77,393 | 154,978 |
Allowance for Doubtful Accounts [Member] | Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Year | 3,838,092 | 127,697 | ' |
Charged to Costs and Expenses | ' | 3,838,092 | 127,697 |
Deductions | 3,838,092 | 127,697 | ' |
Balance at End of Year | ' | $3,838,092 | $127,697 |
Summary_Of_Significant_Account4
Summary Of Significant Accounting Policies (Property and Equipment) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation | $1,098,622 | $1,218,812 | $1,139,821 |
Building [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '27 years 6 months | ' | ' |
Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, Plant and Equipment, Useful Life | '5 years | ' | ' |
Summary_Of_Significant_Account5
Summary Of Significant Accounting Policies (Patent and Trademark Costs) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Amortization of Intangible Assets | $37,399 | $34,022 | $39,137 |
Patents [Member] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '13 years | ' | ' |
Trademarks [Member] | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | '40 years | ' | ' |
Summary_Of_Significant_Account6
Summary Of Significant Accounting Policies (Inventories) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Accounting Policies [Abstract] | ' | ' | ' |
Inventory Write-down | $5,047 | $8,928 | $10,169 |
Summary_Of_Significant_Account7
Summary Of Significant Accounting Policies (Loss Per Common Share) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 |
Outstanding Stock Awards [Member] | Outstanding Stock Awards [Member] | Outstanding Stock Awards [Member] | Stock Options, Out Of The Money [Member] | Stock Options, Out Of The Money [Member] | Stock Options, Out Of The Money [Member] | Stock Options, In The Money [Member] | Stock Options, In The Money [Member] | Stock Options, In The Money [Member] | Stock Bonus Plan [Member] | Stock Bonus Plan [Member] | Stock Bonus Plan [Member] | Stock Bonus Plan [Member] | ||||
Earnings (Loss) Per Common Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding, Options | 3,342,627 | 4,282,001 | 3,254,905 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive shares excluded from computation of diluted loss per share | ' | ' | ' | 267,911 | 32,681 | 16,487 | 3,371,161 | 2,872,257 | 3,201,569 | 462,104 | 0 | 2,834 | ' | ' | ' | ' |
Common shares issued under the Stock Bonus Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 640,979 | 358,855 | 167,680 | 62,199 |
Warrants and Rights Outstanding | $1,489,733 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contracts_In_Process_Narrative
Contracts In Process (Narrative) (Details) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Expected collection period of accounts receivable | '60 days | ' |
Minimum [Member] | ' | ' |
Estimated Period To Complete Contracts In Process, Minimum | '1 month | '1 month |
Maximum [Member] | ' | ' |
Estimated Period To Complete Contracts In Process, Maximum | '10 months | '21 months |
Contracts_In_Process_Summary_O
Contracts In Process (Summary Of Contract In Process) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Contracts In Process [Abstract] | ' | ' |
Costs incurred on uncompleted contracts | $1,549,313 | $838,246 |
Estimated earnings | 670,596 | 515,299 |
Contracts in process, Gross | 2,219,909 | 1,353,545 |
Less billings to date | -1,878,654 | -1,175,281 |
Contracts in process | 341,255 | 178,264 |
Costs and estimated earnings in excess of billings on uncompleted contracts | $341,255 | $178,264 |
Inventories_Schedule_Of_Invent
Inventories (Schedule Of Inventories) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Inventories [Abstract] | ' | ' | ' |
Raw materials | $7,537,189 | $8,097,342 | ' |
Work-in-process | 84,178 | 356,696 | ' |
Finished products | 2,433,055 | 2,544,423 | ' |
Inventories, Total | 10,054,422 | 10,998,461 | ' |
Inventory Write-down | $5,047 | $8,928 | $10,169 |
Recovered_Sheet4
Impairment of Long-Lived Assets (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Impairment of Long-Lived Assets [Abstract] | ' | ' | ' |
Asset Impairment Charges | $0 | $0 | $27,845 |
Facility_Held_For_Sale_Details
Facility Held For Sale (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Facility Held For Sale [Abstract] | ' | ' | ' |
Proceeds from Sale of Buildings | $1,650,000 | ' | ' |
Proceeds from Sale of Property, Plant, and Equipment | $1,565,032 | $25 | $3,825 |
Patents_and_Trademarks_Narrati
Patents and Trademarks (Narrative) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of Intangible Assets | $37,399 | $34,022 | $39,137 |
Patents [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 1,105,722 | 1,052,082 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 878,707 | 845,795 | ' |
Finite-Lived Intangible Assets, Net | 227,015 | 206,287 | ' |
Finite-Lived Intangible Asset, Useful Life | '13 years | ' | ' |
Trademarks [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-Lived Intangible Assets, Gross | 175,841 | 174,758 | ' |
Finite-Lived Intangible Assets, Accumulated Amortization | 68,718 | 64,230 | ' |
Finite-Lived Intangible Assets, Net | $107,123 | $110,528 | ' |
Finite-Lived Intangible Asset, Useful Life | '40 years | ' | ' |
Patents_and_Trademarks_Future_
Patents and Trademarks (Future Amortization Expense) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Patents [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
2014 | $20,430 | ' |
2015 | 15,466 | ' |
2016 | 15,466 | ' |
2017 | 15,028 | ' |
2018 | 11,486 | ' |
Thereafter | 149,139 | ' |
Finite-Lived Intangible Assets, Net, Total | 227,015 | 206,287 |
Trademarks [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
2014 | 4,487 | ' |
2015 | 4,487 | ' |
2016 | 4,487 | ' |
2017 | 4,487 | ' |
2018 | 4,487 | ' |
Thereafter | 84,688 | ' |
Finite-Lived Intangible Assets, Net, Total | $107,123 | $110,528 |
Government_Grants_Narrative_De
Government Grants (Narrative) (Details) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Government Grants [Abstract] | ' |
Government grant, approved funding | $32,400,000 |
Percentage of eligible costs reimbursed by government grants | 50.00% |
Threshold for government reimbursement, asset fair value | 5,000 |
Increase in Reimbursement of Costs | 958,000 |
Grant reimbursements received | 24,400,000 |
Grant funds receivable | $600,000 |
Government_Grants_Schedule_Of_
Government Grants (Schedule Of Capital Asset Purchases, Partially Funded By Government Grants) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Government Grants [Line Items] | ' | ' |
Purchase Cost | $18,750,034 | $18,384,532 |
Grant Funding | 9,375,017 | 9,192,266 |
Recorded Value | 9,375,017 | 9,192,266 |
Land [Member] | ' | ' |
Government Grants [Line Items] | ' | ' |
Purchase Cost | 896,388 | 896,388 |
Grant Funding | 448,194 | 448,194 |
Recorded Value | 448,194 | 448,194 |
Building [Member] | ' | ' |
Government Grants [Line Items] | ' | ' |
Purchase Cost | 9,906,736 | 9,906,736 |
Grant Funding | 4,953,368 | 4,953,368 |
Recorded Value | 4,953,368 | 4,953,368 |
Machinery and equipment [Member] | ' | ' |
Government Grants [Line Items] | ' | ' |
Purchase Cost | 7,946,910 | 7,581,408 |
Grant Funding | 3,973,455 | 3,790,704 |
Recorded Value | $3,973,455 | $3,790,704 |
Other_Current_Liabilities_Sche
Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Other Current Liabilities [Abstract] | ' | ' |
Accrued payroll and employee benefits | $164,334 | $174,135 |
Accrued personal property and real estate taxes | 227,022 | 264,814 |
Accrued warranty costs | 175,661 | 77,393 |
Unearned revenue | 5,416 | 71,442 |
Accrued royalties | 48,336 | 48,336 |
Accrued import duties | 87,100 | 813,740 |
Accrued vendor settlements | 774,974 | 1,050,000 |
Other | 8,902 | 99,575 |
Other current liabilities, Total | $1,491,745 | $2,599,435 |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Commitments And Contingencies [Abstract] | ' | ' |
Aggregate future base salary payable | $1,608,250 | ' |
Potential future compensation payable | $182,100 | $627,412 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended |
Mar. 31, 2014 | |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' |
Defined Benefit Plan, Effect of One Percentage Point Decrease on Accumulated Postretirement Benefit Obligation | $2,500 |
Fair Value, Inputs, Level 3 [Member] | ' |
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' |
Fair Value Inputs, Discount Rate | 14.00% |
Fair_Value_Measurements_Liabil
Fair Value Measurements (Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Deferred compensation under executive employment agreements | $182,100 | $627,412 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Deferred compensation under executive employment agreements | $182,100 | $627,412 |
Fair_Value_Measurements_Liabil1
Fair Value Measurements (Liabilities Measured On Recurring Basis, Unobservable Input Reconciliation) (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Fair Value Measurements [Abstract] | ' | ' |
Balance at beginning of period | $627,412 | $715,107 |
Transfers into Level 3 | 0 | 0 |
Transfers out of Level 3 | 0 | 0 |
Total gains or losses included in earnings | 78,688 | 64,312 |
Total gains or losses included in other comprehensive income | 0 | 0 |
Settlements | -524,000 | -152,007 |
Balance at the end of period | $182,100 | $627,412 |
Stockholders_Equity_Details
Stockholder's Equity (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Stock Issued During Period, Shares, New Issues | 2,864,872 | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | 2.1275 | ' | ' |
Proceeds from Issuance of Common Stock | $4,911,933 | ' | ' |
Adjustments to Additional Paid in Capital, Warrant Issued | 1,832,943 | ' | ' |
Class of Warrant or Right, Outstanding | 1,489,733 | 0 | ' |
Warrants and Rights Outstanding | $1,489,733 | $0 | $0 |
Class of Warrant, Class One [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,432,436 | ' | ' |
Risk-free interest rate | 1.50% | ' | ' |
Volatility rate | 78.30% | ' | ' |
Dividend rate | 0.00% | ' | ' |
Class of Warrant, Class Two [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 57,297 | ' | ' |
Expected term | '4 years 6 months | ' | ' |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Cash received from settlement of share-based awards | $21,075 | $0 | $0 |
Unrecognized compensation costs, period for recognition | '14 months | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | 493,271 | 885,916 | 513,236 |
Weighted average estimated fair value of grant | $0.68 | $0.56 | $1.46 |
Equity Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of shares authorized | 1,100,000 | ' | ' |
Number of shares available for grant | 14,870 | ' | ' |
Plan term | '10 years | ' | ' |
Award, expiration period | '10 years | ' | ' |
Vesting period | '3 years | ' | ' |
Maximum number of grants, per employee, per year | 500,000 | ' | ' |
Granted, Options | 89,340 | 1,418,792 | 569,710 |
Unrecognized compensation costs | 271,804 | ' | ' |
Non-Employee Director Stock Option Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of shares authorized | 1,000,000 | ' | ' |
Number of shares available for grant | 224,173 | ' | ' |
Non-Employee Director Stock Option Plan [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Plan term | '3 years | ' | ' |
Non-Employee Director Stock Option Plan [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Plan term | '10 years | ' | ' |
Stock Bonus Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of shares authorized | 1,954,994 | ' | ' |
Number of shares available for grant | 47,149 | ' | ' |
Unrecognized compensation costs | 490,759 | ' | ' |
Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of shares authorized | 700,000 | ' | ' |
Number of shares available for grant | 307,650 | ' | ' |
Maximum percentage of base compensation that may be contributed to purchase shares of common stock | 10.00% | ' | ' |
Purchase of common stock under share-based compensation plan, percentage of fair market value | 85.00% | ' | ' |
Shares issued in period for share-based awards | 62,421 | 85,550 | 41,158 |
Cash received from settlement of share-based awards | $60,689 | $75,385 | $60,960 |
StockBased_Compensation_Stock_
Stock-Based Compensation (Stock Options, Valuation Assumptions) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract] | ' | ' | ' |
Weighted average estimated fair value of grant | $0.68 | $0.56 | $1.46 |
Expected life (in years) | '4 years 9 months 18 days | '6 years 3 months 18 days | '5 years 9 months 18 days |
Risk free interest rate | 2.30% | 1.30% | 2.59% |
Expected volatility | 73.91% | 72.80% | 73.96% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule Of Share-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | $789,871 | $1,170,349 | $932,902 |
Costs Of Contract Services [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | 18,738 | 19,898 | 21,592 |
Costs Of Product Sales [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | 40,559 | 42,313 | 98,807 |
Research And Development [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | 8,981 | 2,998 | 1,110 |
Production Engineering [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | 140,811 | 146,317 | 193,474 |
Selling, General And Administrative [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Share-based compensation expense | $580,782 | $958,823 | $617,919 |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary Of Stock Option Activity) (Details) (USD $) | 12 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | Mar. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Outstanding at Period Start, Options | 4,282,001 | ' | ' | ' |
Exercised, Options | -20,146 | ' | ' | ' |
Outstanding at Period End, Options | 3,342,627 | ' | 3,254,905 | ' |
Equity Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Outstanding at Period Start, Options | 4,251,695 | 3,228,210 | 2,960,277 | ' |
Granted, Options | 89,340 | 1,418,792 | 569,710 | ' |
Exercised, Options | -20,146 | ' | ' | ' |
Forfeited, Options | -990,314 | -395,307 | -301,777 | ' |
Outstanding at Period End, Options | 3,330,575 | 4,251,695 | 3,228,210 | 2,960,277 |
Exercisable, Options | 2,634,589 | 3,098,868 | 2,559,488 | ' |
Vested and expected to vest, Options | 3,306,339 | 4,194,686 | 3,200,983 | ' |
Outstanding at Period Start, Weighted-Average Exercise Price | $2.14 | $2.78 | $2.99 | ' |
Granted, Weighted-Average Exercise Price | $1.11 | $0.87 | $2.29 | ' |
Exercised, Weighted-Average Exercise Price | $1.05 | ' | ' | ' |
Forfeited, Weighted-Average Exercise Price | $2.62 | $2.83 | $3.84 | ' |
Outstanding at Period End, Weighted-Average Exercise Price | $1.98 | $2.14 | $2.78 | $2.99 |
Exercisable, Weighted-Average Exercise Price | $2.21 | $2.48 | $2.82 | ' |
Vested and expected to vest, Weighted-Average Exercise Price | $1.98 | $2.15 | $2.78 | ' |
Outstanding, Weighted Average Remaining Contractual Life | '4 years 9 months 18 days | '4 years 8 months 12 days | '3 years 10 months 24 days | '3 years 8 months 12 days |
Exercisable, Weighted Average Remaining Contractual Life | '3 years 10 months 24 days | '3 years 2 months 12 days | '2 years 9 months 18 days | ' |
Vested and expected to vest, Weighted Average Remaining Contractual Life | '4 years 9 months 18 days | '4 years 8 months 12 days | '3 years 9 months 18 days | ' |
Outstanding at Period Start, Aggregate Intrinsic Value | ' | ' | $1,109,521 | ' |
Exercised, Aggregate Intrinsic Value | 27,462 | ' | ' | ' |
Outstanding at Period End, Aggregate Intrinsic Value | 2,931,885 | ' | ' | 1,109,521 |
Exercisable, Aggregate Intrinsic Value | 1,848,784 | ' | ' | ' |
Vested and expected to vest, Aggregate Intrinsic Value | $2,891,654 | ' | ' | ' |
StockBased_Compensation_Schedu1
Stock-Based Compensation (Schedule Of Nonvested Share Activity) (Details) (Stock Bonus Plan [Member], USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Stock Bonus Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Non-vested at Period Start, shares | 358,855 | 167,680 | 62,199 |
Granted, shares | 452,195 | 454,866 | 213,398 |
Vested, shares | -166,231 | -263,691 | -107,917 |
Forfeited, shares | -3,840 | ' | ' |
Non-vested at Period End, shares | 640,979 | 358,855 | 167,680 |
Non-vested at Period Start, Weighted-Average Grant Date Fair Value | $1.22 | $2.44 | $2.50 |
Granted, Weighted-Average Grant Date Fair Value | $1.18 | $0.87 | $2.34 |
Vested Weighted-Average Grant Date Fair Value | $1.34 | $1.39 | $2.28 |
Forfeited Weighted-Average Grant Date Fair Value | $1.25 | ' | ' |
Non-vested at Period End, Weighted-Average Grant Date Fair Value | $1.17 | $1.22 | $2.44 |
Significant_Customers_Details
Significant Customers (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Customer_A [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, amount | $880,145 | $1,078,930 | $684,489 |
Customer_A [Member] | Accounts Receivable [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk, percentage | 71.00% | 77.00% | ' |
Customer_A [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, percentage | 12.00% | 15.00% | 7.00% |
Customer_B [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, amount | 727,683 | 1,494,024 | 41,388 |
Customer_B [Member] | Accounts Receivable [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk, percentage | 2.00% | 3.00% | ' |
Customer_B [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, percentage | 10.00% | 21.00% | ' |
Customer_C [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, amount | 615,081 | 816,779 | 747,924 |
Customer_C [Member] | Accounts Receivable [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk, percentage | 10.00% | 5.00% | ' |
Customer_C [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, percentage | 9.00% | 11.00% | 7.00% |
Customer_D [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, amount | 50,050 | 728,000 | 455,000 |
Customer_D [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, percentage | 1.00% | 10.00% | 4.00% |
Customer_E [Member] | Sales Revenue, Goods, Net [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, amount | ' | $191,983 | $4,313,728 |
Customer_E [Member] | Customer Concentration Risk [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Revenue from major customer, percentage | ' | 3.00% | 43.00% |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Income Taxes [Abstract] | ' | ' |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate | 34.00% | ' |
Net operating loss carry-forwards | $70,900,000 | $67,300,000 |
Operating Loss Carryforwards, Stock Options | 5,300,000 | ' |
Deferred Tax Assets, Valuation Allowance | $26,086,965 | $25,211,949 |
Income_Taxes_Schedule_of_Incom
Income Taxes (Schedule of Income Tax Benefit) (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Income Taxes [Abstract] | ' | ' | ' |
Computed "expected" tax benefit | ($942,903) | ($3,634,026) | ($1,675,697) |
Adjustment of expiring net operating loss carry-forwards | ' | 1,364,055 | 382,741 |
Increase (decrease) in valuation allowance for net deferred tax assets | 875,016 | 2,295,702 | 1,222,257 |
Other, net | 67,887 | -25,731 | 70,699 |
Income tax benefit | ' | ' | ' |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Mar. 31, 2014 | Mar. 31, 2013 |
Income Taxes [Abstract] | ' | ' |
Research and development credit carry-forwards | $4,073 | $4,073 |
Net operating loss carry-forwards | 24,328,101 | 22,998,447 |
Deferred compensation | 75,384 | 242,840 |
Property and equipment | 108,314 | 297,144 |
Intangible assets | ' | 64,994 |
Stock Compensation | 952,978 | 847,069 |
Other | 666,505 | 757,382 |
Total deferred tax assets | 26,135,355 | 25,211,949 |
Intangible assets | 48,390 | ' |
Total deferred tax liabilities | 48,390 | ' |
Net deferred tax assets | 26,086,965 | 25,211,949 |
Less valuation allowance | 26,086,965 | 25,211,949 |
Deferred tax assets, net of valuation allowance | ' | ' |
401k_Employee_Benefit_Plan_Det
401(k) Employee Benefit Plan (Details) (USD $) | 12 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
401(k) Employee Benefit Plan [Abstract] | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15.00% | ' | ' |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 33.00% | ' | ' |
Defined Contribution Plan, Employers Matching Contribution, Vesting Period | '3 years | ' | ' |
Defined Contribution Plan, Cost Recognized | $132,471 | $149,311 | $135,825 |
Interim_Financial_Data_Details
Interim Financial Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Interim Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales | $1,015,482 | $2,040,249 | $2,041,958 | $1,948,511 | $1,658,107 | $1,928,070 | $1,196,104 | $2,396,428 | $7,046,200 | $7,178,709 | $10,143,456 |
Gross Profit | 350,413 | 832,886 | 848,563 | 662,242 | 459,505 | 276,594 | 463,891 | 930,489 | ' | ' | ' |
Net loss | ($1,378,708) | ($65,913) | ($412,269) | ($916,354) | ($2,282,297) | ($4,555,033) | ($2,563,548) | ($1,287,434) | ($2,773,244) | ($10,688,312) | ($4,928,520) |
Net loss per common share - basic and diluted | ($0.04) | $0 | ($0.01) | ($0.02) | ($0.06) | ($0.12) | ($0.07) | ($0.04) | ($0.07) | ($0.29) | ($0.14) |