Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Sep. 30, 2013 | Nov. 05, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'CollabRx, Inc. | ' |
Entity Central Index Key | '0000931059 | ' |
Current Fiscal Year End Date | '--03-31 | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 1,962,960 |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Current assets: | ' | ' | |
Cash and cash equivalents | $2,791 | $4,039 | [1] |
Accounts receivable | 250 | 250 | [1] |
Prepaid expenses and other current assets | 110 | 102 | [1] |
Other assets of discontinued operations | 365 | 11 | [1] |
Total current assets | 3,516 | 4,402 | [1] |
Property and equipment, net | 138 | 142 | [1] |
Intangible assets, net | 1,385 | 1,490 | [1] |
Goodwill | 603 | 603 | [1] |
Investment in convertible promissory note | 362 | 345 | [1] |
Total assets | 6,004 | 6,982 | [1] |
Current liabilities: | ' | ' | |
Accounts payable, accrued expenses and other current liabilities | 195 | 167 | [1] |
Common stock warrant liability | 0 | 10 | [1] |
Liabilities of discontinued operations | 89 | 16 | [1] |
Total current liabilities | 284 | 193 | [1] |
Deferred tax liability | 540 | 581 | [1] |
Promissory note | 507 | 504 | [1] |
Other long term liabilities | 12 | 0 | [1] |
Total liabilities | 1,343 | 1,278 | [1] |
Stockholders' equity: | ' | ' | |
Preferred stock, $0.01 par value; 5,000,000 shares authorized; none issued and outstanding | 0 | 0 | [1] |
Common stock, $0.01 par value; 50,000,000 shares authorized; 1,952,960 shares issued and outstanding at September 30, 2013 and March 31, 2013, respectively | 19 | 19 | [1] |
Additional paid-in capital | 130,777 | 130,602 | [1] |
Accumulated other comprehensive loss | 0 | -142 | [1] |
Accumulated deficit | -126,135 | -124,775 | [1] |
Total stockholders' equity | 4,661 | 5,704 | [1] |
Total liabilities and stockholders' equity | $6,004 | $6,982 | [1] |
[1] | Derived from the Company's audited consolidated financial statements. |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 |
Stockholders' equity: | ' | ' |
Preferred stock, par value (in dollars per share) | $0.01 | $0.01 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 1,952,960 | 1,952,960 |
Common stock, shares outstanding (in shares) | 1,952,960 | 1,952,960 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS [Abstract] | ' | ' | ' | ' |
Revenue | $251 | $50 | $521 | $50 |
Revenue - related party | 0 | 25 | 0 | 50 |
Total revenue | 251 | 75 | 521 | 100 |
Cost of revenue | 18 | 20 | 36 | 20 |
Gross profit | 233 | 55 | 485 | 80 |
Operating expenses: | ' | ' | ' | ' |
Engineering | 457 | 328 | 671 | 328 |
Research and development | 27 | 0 | 157 | 0 |
Sales and marketing | 63 | 49 | 122 | 49 |
General and administrative | 558 | 970 | 1,117 | 1,682 |
Total operating expenses | 1,105 | 1,347 | 2,067 | 2,059 |
Operating loss | -872 | -1,292 | -1,582 | -1,979 |
Other income, net | 16 | 11 | 26 | 20 |
Loss before income tax benefit | -856 | -1,281 | -1,556 | -1,959 |
Income tax benefit | -20 | 0 | -41 | 0 |
Loss from continuing operations | -836 | -1,281 | -1,515 | -1,959 |
Gain on sale of discontinued operations, net of taxes | 267 | 0 | 267 | 0 |
Income (loss) from discontinued operations, net of taxes | 6 | -3 | -112 | -4 |
Net income (loss) from discontinued operations, net of taxes | 273 | -3 | 155 | -4 |
Net loss | -563 | -1,284 | -1,360 | -1,963 |
Foreign currency translation | 0 | 0 | 0 | 0 |
Comprehensive loss | ($563) | ($1,284) | ($1,360) | ($1,963) |
Net loss per share from continuing operations: | ' | ' | ' | ' |
Basic and diluted (in dollars per share) | ($0.43) | ($0.68) | ($0.78) | ($1.13) |
Net income (loss) per share from discontinued operations: | ' | ' | ' | ' |
Basic and diluted (in dollars per share) | $0.14 | $0 | $0.08 | $0 |
Net loss per share: | ' | ' | ' | ' |
Basic and diluted (in dollars per share) | ($0.29) | ($0.68) | ($0.70) | ($1.13) |
Weighted-average shares used in per share computation: | ' | ' | ' | ' |
Basic and diluted (in shares) | 1,953 | 1,884 | 1,953 | 1,738 |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | |
Cash flows from operating activities: | ' | ' | |
Net loss | ($1,360) | ($1,963) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | |
Stock compensation expense | 175 | 312 | |
Fair value adjustment of common stock warrants | -10 | -3 | |
Depreciation | 15 | 1 | |
Loss on disposal of property and equipment | 0 | 17 | |
Amortization of intangible assets | 105 | 20 | |
Accrued interest on note receivable | -17 | -17 | |
Accrued interest promissory note | 3 | 0 | |
Deferred tax liability | 0 | -336 | |
Tax benefit related to intangibles | -41 | 0 | |
Changes in operating assets and liabilities: | ' | ' | |
Prepaid expenses and other assets | -8 | -57 | |
Accounts payable, accrued expenses and other liabilities | 40 | 2 | |
Current assets and liabilities from discontinued operations, net | -139 | 316 | |
Net cash used in operating activities | -1,237 | -1,708 | |
Cash flows from investing activities: | ' | ' | |
Acquisition of property and equipment | -11 | -71 | |
Cash received from acquisition | 0 | 476 | |
Issuance of note receivable | 0 | -300 | |
Net cash provided by (used in) investing activities | -11 | 105 | |
Net decrease in cash and cash equivalents | -1,248 | -1,603 | |
Cash and cash equivalents at beginning of period | 4,039 | [1] | 7,820 |
Cash and cash equivalents at end of period | 2,791 | 6,217 | |
Supplemental disclosure of non-cash activities: | ' | ' | |
Shares issued in CollabRx acquisition | 0 | 932 | |
Note receivable used as consideration for CollabRx acquisition | 0 | 300 | |
Promissory note issued in CollabRx acquisition | 0 | 500 | |
Fair value of assets acquired in CollabRx acquisition | 0 | 2,253 | |
Liabilities assumed in CollabRx acquisition | $0 | $997 | |
[1] | Derived from the Company's audited consolidated financial statements. |
Description_of_Business_and_Su
Description of Business and Summary of Significant Accounting Policies | 6 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies | ' | ||||||||||||||||||||||||||
1. Description of Business and Summary of Significant Accounting Policies: | |||||||||||||||||||||||||||
CollabRx, Inc., a Delaware corporation (“CollabRx,” the “Company” or “we,” “us,” and “our”), is the recently renamed Tegal Corporation, (“Tegal”), which acquired a private company of the same name on July 12, 2012. Following approval by its stockholders on September 25, 2012, Tegal amended its charter and changed its name to “CollabRx, Inc.” (the “Name Change”). | |||||||||||||||||||||||||||
Tegal was formed in December 1989 to acquire the operations of the former Tegal Corporation, a division of Motorola, Inc. Tegal’s predecessor company was founded in 1972 and acquired by Motorola, Inc. in 1978. Tegal completed its initial public offering in October 1995. | |||||||||||||||||||||||||||
The Company’s condensed consolidated financial statements contemplate the realization of assets and the satisfaction of liabilities in the normal course of business for the foreseeable future. We incurred net losses of $1,360 and $1,963 for the six months ended September 30, 2013 and 2012, respectively. We used $1,237 and $1,708 of cash in operating activities for the six months ended September 30, 2013 and 2012, respectively. We believe that our existing cash and cash equivalents will be adequate to fund operations through fiscal year 2014. | |||||||||||||||||||||||||||
CollabRx offers cloud-based expert systems that provide clinically relevant interpretive knowledge to institutions, physicians, researchers and patients for genomics-based medicine in cancer and other diseases to inform health care decision-making. With access to approximately 75 clinical and scientific advisors at leading academic institutions and a suite of tools and processes that combine artificial intelligence-based analytics with proprietary interpretive content, the Company is well positioned to participate in the value-added “big data” opportunity in the US health care. We use the term “cloud” to mean a product or service that can be delivered via the Internet, usually on a pay-for-use or subscription basis, versus the purchase and installation of enterprise-based software, which typically requires investments in both software and hardware, often also requiring large-scale customization efforts. We use the term “big data” to refer to datasets whose size is beyond the ability of typical database software tools to capture, store, manage, and analyze. | |||||||||||||||||||||||||||
We search publicly available databases as source documents for our knowledge base. Such databases include those that are available, either free or on a commercial basis, in the areas of clinical trials, drugs, investigational compounds, biomarkers, bioinformatics, cancer ontology and literature. We then aggregate, annotate and integrate these datasets for the purpose of defining the relationship of biomarkers to therapeutic strategies, drugs and clinical trials. None of the individual databases we utilize as sources provide information on the interrelationships of these discrete elements. In addition, CollabRx has developed a process for incorporating the guidance of our network of physician and research advisors in the selection of the most relevant data for specific diagnoses, histopathology data, prior treatments and biomarkers. The result of this software- and expert-assisted process is proprietary content incorporated into our knowledge base which includes decision rules, succinct statements of therapeutic strategy and a comprehensive listing of appropriate drugs and clinical trials, all related to specific aberrations which might be observed in connection with genomic testing. | |||||||||||||||||||||||||||
Although the process and results are proprietary, we always refer to the relevant source documentation that provides the support for the identification of an actionable biomarker, typically a peer-reviewed, published paper. In this way, we avoid the “black-box algorithm problem”, which is prevalent in other companies’ predictive analytical models, but is not currently a trusted methodology in medical practice. Our proprietary content is incorporated into our knowledge base, which is updated regularly with the assistance of a large network of independent advisors, and which forms the basis for all our products and services. Our knowledge base contains no individual patient data, nor do our processes for providing related content include the review by our network of independent experts of any individual test data. | |||||||||||||||||||||||||||
Our knowledge base informs two distinctly different products and services. | |||||||||||||||||||||||||||
Genetic Variant Application. The “Genetic Variant Application” or “GVA” is a service offered to diagnostic testing laboratories, including academic medical centers and commercial laboratories. Our lab customers provide us with a test result, usually in the form of an electronic file that represents the results of a genomic test, typically from a “Next Generation Sequencing” (“NGS”) or similar testing platform. The test results provided to us contain no patient-identifiable information. We analyze the test results for the purpose of identifying those aberrations which we have annotated in advance as being “actionable” (i.e., related to a therapeutic strategy). We provide the testing lab with a report, incorporating information regarding identified biomarkers and associated therapeutic strategies for each, along with relevant drugs and clinical trials, to a level and in a format that we have agreed in advance with our customer. We are compensated for this service either on a per-test or on a volume-adjusted subscription basis. This service is not available to the public and is not available on our website. | |||||||||||||||||||||||||||
Therapy Finder Products. Our Therapy Finder™ products are a series of cancer-specific, web-based apps which are accessed by physicians and patients, usually in the physician’s office. After indicating a number of pre-set options related to stage of cancer, histopathology, prior treatments and presence of biomarkers on an input page, the physician is presented with a results page which explains the role of the biomarker, identifies a possible therapeutic strategy for that particular set of inputs, along with tabs associated with searchable lists of relevant drugs and clinical trials. Therapy Finders are an interactive, informational and educational resource for both physicians and patients, and can be used for decision-support. They neither contain nor store any patient identifiable information. The advisors associated with the development and updating of each app are prominently featured. The development and distribution of Therapy Finders is partially supported by sponsorships and advertising revenue. They are available free of charge through both a commercial channel (in association with MedPage Today, a property of on-line media company, Everyday Health, Inc.) and on our company website. Our aim is to make this tool available as widely as possible, through as many channels as possible, to help community physicians understand the relevance of biomarker testing and the availability of potential therapies for their advanced cancer patients. | |||||||||||||||||||||||||||
We intend to pursue collaborative arrangements with other companies and entities that provide contract research services to oncology practices, conduct in-house clinical and translational research, collect information on patient outcomes and link this information to genetic sequencing data, and calculate the relative costs and benefits associated with different diagnostic tests and therapies. We expect such efforts to lead to novel insights and advances to improve the quality of cancer care and reduce the costs of delivering it. The physicians and researchers within our network of advisors have agreed to participate in our efforts for an indefinite term, on an uncompensated basis, and without a formal agreement. The board assignments, biographies and current affiliations of all of our advisors are posted on our website. | |||||||||||||||||||||||||||
Discontinued Operations | |||||||||||||||||||||||||||
Since 2009, the Company has engaged in a process of transitioning away from its legacy lines of business in semiconductor capital equipment. As a result of the sale of the Company’s Deep Reactive Ion Etch (“DRIE”) assets in the fiscal year 2011, and in accordance with generally accepted accounting principles (“GAAP”), the DRIE business operations related to the designing, manufacturing, marketing and servicing of systems and parts within the semiconductor industry has been presented in discontinued operations in our condensed consolidated financial statements. The exit from the DRIE operation was essentially completed by the end of the fourth quarter of our 2011 fiscal year. However, the Company retained its intellectual property portfolio for Nanolayer Deposition Technology (“NLD”). During fiscal year 2012, the Company, as part of its proposed sale of its NLD portfolio, completed the sale transactions of two of four patent lots for approximately $3,750. The Company sold the last two patent lots for approximately $365 in the second quarter of the current fiscal year. Net revenue related to this sale was $267. With this sale, the Company has no other intellectual property related to discontinued operations. | |||||||||||||||||||||||||||
The Company recognized a reclassification out of accumulated other comprehensive loss and into Loss from Discontinued Operations, net of taxes. The reclassification is related to the recognition of a non-cash loss of $142 of foreign exchange differences from its former Tegal foreign subsidiaries, primarily as a result of the final closing of the former Tegal German subsidiary. The Company received permission to close the German subsidiary in June 2013. No further audits or reviews are anticipated by foreign taxing authorities. | |||||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||||
In the opinion of management, the unaudited condensed consolidated interim financial statements have been prepared on the same basis as the March 31, 2013 audited consolidated financial statements and include all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the information set forth herein. The financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”), but omit certain information and footnote disclosures necessary to present the financial statements in accordance with GAAP. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2013. The results of operations for the three and six months ended September 30, 2013 are not necessarily indicative of results to be expected for the entire year. | |||||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could vary from those estimates. | |||||||||||||||||||||||||||
Concentration of Credit Risk | |||||||||||||||||||||||||||
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash investments. The Company’s accounts receivable balance is also subject to credit risk. Substantially all of the Company’s liquid investments are invested in money market funds. The Company’s accounts receivable are derived primarily from sales to customers located in the United States. The Company performs ongoing credit evaluations of its customers and generally requires no collateral. The Company no longer maintains reserves for potential credit losses. There have been no write-offs during the periods presented. | |||||||||||||||||||||||||||
For the three and six months ended September 30, 2012, Sequel Power, LLC (“Sequel Power”) accounted for 33.3% and 50.0% of the Company’s revenue. Everyday Health accounted for 67.7% and 50.0% of the Company’s revenue for the same period. For the three and six months ended September 30, 2013, Life Technologies accounted for 99.6% and 96.0%, respectively, of the Company’s revenue. For the three and six months ended September 30, 2013, Everyday Health accounted for 0.0% and 3.8%, respectively, of the Company’s revenue. | |||||||||||||||||||||||||||
Life Technologies, Inc. has been a major contributor to our revenue and gross profit for the past two quarters, however we have funded the Company’s operating expenses primarily with cash on hand and the net proceeds from the sale of discontinued assets, as disclosed in prior filings. We are actively engaged in negotiations with several other companies who are interested in purchasing our content on similar terms or under annual subscriptions or software-as-a-service arrangements. | |||||||||||||||||||||||||||
For the period ended September 30, 2013, Life Technologies accounted for 100% of the balance in accounts receivable. The Company sold the last two patent lots of our NLD portfolio for approximately $365 in the second quarter of the current fiscal year. The related accounts receivable are recorded in other assets of discontinued operations. | |||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||
The Company considers all highly liquid debt instruments having a maturity of three months or less on the date of purchase to be cash equivalents. | |||||||||||||||||||||||||||
At September 30, 2013 and March 31, 2013, all of the Company’s current investments are classified as cash equivalents in the condensed consolidated balance sheets. At September 30, 2013 and March 31, 2013, the fair value of the Company’s investments approximated cost. | |||||||||||||||||||||||||||
Promissory Notes | |||||||||||||||||||||||||||
On July 12, 2012, Tegal completed the acquisition of CollabRx. As part of the purchase price, Tegal issued promissory notes in the amount of $500 in exchange for the existing CollabRx indebtedness. The principal amount of the promissory notes is payable in equal installments on the third, fourth and fifth anniversaries of the date of issuance, along with the accrued but unpaid interest as of such dates. See Note 8, CollabRx Acquisition. | |||||||||||||||||||||||||||
On November 22, 2011, the Company completed a $300 strategic investment in NanoVibronix, Inc., (“NanoVibronix”) a private company that develops medical devices and products that implement its proprietary therapeutic ultrasound technology. The Company’s investment in NanoVibronix is in the form of a convertible promissory note that bears interest at a rate of 10% per year compounded annually and matures on November 15, 2014. | |||||||||||||||||||||||||||
At September 30, 2013 and March 31, 2013, the Convertible Promissory Note balance was $362 and $345, respectively, consisting of the original $300 investment and $62 and $45, respectively, in accrued interest. | |||||||||||||||||||||||||||
Accounts Receivable – Allowance for Sales Returns and Doubtful Accounts | |||||||||||||||||||||||||||
For the six months ended September 30, 2013 and 2012, the Company had zero reserves for potential credit losses as such risk was determined to be insignificant. The Company had zero write-offs during the periods presented. The Company historically maintained an allowance for doubtful accounts receivable for estimated losses resulting from the inability of the Company’s customers to make required payments for system sales. | |||||||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||||
Each contract sale of our interpretive data is evaluated individually in regard to revenue recognition. We have integrated in our evaluation the related guidance included in Accounting Standards Codification (“ASC”) Topic 605 – “Revenue Recognition”. We recognize revenue when persuasive evidence of an arrangement exists, the seller’s price is fixed or determinable and collectibility is reasonably assured. | |||||||||||||||||||||||||||
For arrangements that include multiple deliverables, we identify separate units of accounting based on the guidance under ASC 605-25 “Multiple Element Arrangements”, which provides that revenue arrangements with multiple deliverables should be divided into separate units of accounting, if certain criteria are met. The consideration of the arrangement is allocated to the separate units of accounting using the relative selling price method. Applicable revenue recognition criteria are considered separately for each separate unit of accounting. | |||||||||||||||||||||||||||
Revenue from fixed price contracts is recognized primarily under the percentage of completion method. Under this method we recognize estimated contract revenue and resulting income based on costs incurred to date as a percentage of the total estimated costs as we consider this model to best reflect the economics of these contracts. In such contracts, the Company’s efforts, measured by time incurred, typically represents the contractual milestones or output measure. If at any time during the contract period, we determine that a loss will occur, we recognize the loss in that period. Furthermore, if in previous periods a profit was recognized under the percentage-of completion method, the profit would be reversed during the period we determined a loss on the contract exists. | |||||||||||||||||||||||||||
Derivative Instruments | |||||||||||||||||||||||||||
In June 2008, the Financial Accounting Standards Board (“FASB”) ratified the Emerging Issues Task Force (“EITF”) consensus on EITF Issue No. 07-05, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity's Own Stock (“EITF Issue 07-05”) (Topic 815) which applies to the determination of whether any freestanding financial instruments or embedded features that have the characteristics of a derivative, as defined by Statement of Financial Accounting Standards (“SFAS”) No. 133 (Topic 815), Accounting for Derivative Instruments and Hedging Activities, and to any freestanding financial instruments are potentially indexed to an entity’s own common stock. EITF Issue No. 07-05 (Topic 815) became effective for fiscal years beginning after December 15, 2008. The Company adopted Topic 815 as of April 1, 2009. As a result, warrants to purchase 285,454 shares of our common stock previously treated as equity pursuant to the derivative treatment exemption were no longer afforded equity treatment. The warrants had exercise prices ranging from $30.00-$495.00 and expired or will expire between February 2010 and September 2013. As such, effective April 1, 2009, the Company reclassified the fair value of these warrants, which had exercise price reset features, from equity to liability status as if these warrants were treated as a derivative liability since their date of issue between February 2000 and January 2006. On April 1, 2009, the Company reclassified $346 from additional paid-in capital, as a cumulative effect adjustment, to beginning accumulated deficit, and $502 to common stock warrant liability to recognize the fair value of such warrants on such date. At September 30, 2013, the fair value of the warrants was $0, as these outstanding warrants expired on September 9, 2013. Previous determinations of the fair value of the warrants were calculated using the Black-Scholes pricing model. For the six months ended September 30, 2013 and 2012, respectively, the Company recorded non-cash gains of $10 and $3 related to these warrants. As of the reporting date, the Company has no other derivative instruments. | |||||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||||
We account for income taxes in accordance with ASC Topic 740 – “Income Taxes”, which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Under ASC 740, the liability method is used in accounting for income taxes. Deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax basis of assets and liabilities, and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax asset will not be realized. We evaluate annually the realizability of our deferred tax assets by assessing our valuation allowance and by adjusting the amount of such allowance, if necessary. The factors used to assess the likelihood of realization include our forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets. In 2013 and 2012, we have recorded a full valuation allowance for our deferred tax assets based on our past losses and uncertainty regarding our ability to project future taxable income. In future periods, if we are able to generate income we may reduce or eliminate the valuation allowance. | |||||||||||||||||||||||||||
Investment in Unconsolidated Affiliate | |||||||||||||||||||||||||||
Sequel Power | |||||||||||||||||||||||||||
On January 14, 2011, we entered into a Formation and Contribution Agreement with se2quel Partners and Sequel Power. We contributed $2 million in cash to Sequel Power and issued warrants to purchase shares of our common stock in exchange for an approximate 25% ownership interest in Sequel Power. Sequel Power was focused on the promotion of solar power plant development projects worldwide. The management services provided to Sequel Power represented the Company’s sole source of revenue for fiscal 2012. We impaired the entire book value of our investment in Sequel Power on March 31, 2012. On March 21, 2013, Sequel Power and se2quel Partners irrevocably assigned and transferred to the Company for cancelation the balance of Sequel Power’s warrants representing the right to purchase 44,578 shares of the Company’s common stock, leaving a balance of 92,888 warrants still outstanding. In exchange, we agreed to terminate our Management Services Agreement and to waive receivables related to accrued fees thereunder. We do not anticipate making any additional investments in Sequel Power or any other solar-related businesses. | |||||||||||||||||||||||||||
Management evaluates our joint venture arrangements to determine whether they should be recorded on a consolidated basis. The percentage of ownership interest in the joint venture, an evaluation of control and whether a variable interest entity (“VIE”) exists are all considered in the consolidation assessment. | |||||||||||||||||||||||||||
We account for our investment in joint ventures where we own a non-controlling interest or where we are not the primary beneficiary of a VIE using the equity method of accounting. Under the equity method, our cost of investment is adjusted for our share of equity in the earnings of the unconsolidated affiliate and reduced by distributions received. | |||||||||||||||||||||||||||
Any differences between the cost of our investment in an unconsolidated affiliate and our underlying equity as reflected in the unconsolidated affiliate’s financial statements generally result from a different basis in assets contributed to the joint venture. The net difference between our investment in unconsolidated affiliates and the underlying equity of unconsolidated affiliates is generally amortized over a period of ten years, which was determined to be the estimated useful life of the underlying intangibles which created the difference in carrying amount. | |||||||||||||||||||||||||||
On a periodic basis, we assess whether there are any indicators that the fair value of our investments in unconsolidated affiliates may be impaired. An investment is impaired only if our estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in value is deemed to be other than temporary. To the extent impairment has occurred, the loss is measured as the excess of the carrying amount of the investment over the fair value of the investment. Our estimates of fair value for each investment are based on a number of assumptions such as future revenue projections, operating forecasts, discount rates and capitalization rates, among others. These assumptions are subject to economic and market uncertainties. As these factors are difficult to predict and are subject to future events that may alter our assumptions, the fair values estimated in the impairment analyses may not be realized. | |||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||
The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and we consider what assumptions market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||||||||||||||||||||||||||
· | Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. | ||||||||||||||||||||||||||
· | Level 2: Directly or indirectly observable inputs as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data from actively quoted markets for substantially the full term of the financial instrument. | ||||||||||||||||||||||||||
· | Level 3: Unobservable inputs that are supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. | ||||||||||||||||||||||||||
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. | |||||||||||||||||||||||||||
The Company’s financial instruments consist primarily of money market funds. At September 30, 2013, all of our investments were classified as cash equivalents in the condensed consolidated balance sheets. The carrying amounts of our cash equivalents are valued using Level 1 inputs. Our cash equivalents total $2,791. The value of our warrant liability is determined using Level 3 inputs. The Company uses the Black-Scholes option pricing model as its method of valuation for warrants that are subject warrant liability accounting. The determination of the fair value as of the reporting date is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables which could provide differing variables. These variables include, but are not limited to, expected stock price volatility over the term of the security and risk free interest rate. In addition, the Black-Scholes option pricing model requires the input of an expected life for the securities for which we have estimated based upon the stage of the Company’s development. The fair value of the warrant liability is revalued each balance sheet date utilizing the Black-Scholes option pricing model computations with the decrease or increase in the fair value being reported in the Consolidated Statement of Operations and Comprehensive Loss as other income, net. A significant increase (decrease) of any of the subjective variables independent of other changes would result in a correlated increase (decrease) in the liability and an inverse effect on net income. | |||||||||||||||||||||||||||
At September 30, 2013, the Company’s warrant liability has been extinguished, and the Company has no other financial instruments subject to using Level 3 inputs. | |||||||||||||||||||||||||||
The change in the fair value of warrants is as follows: | |||||||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Balance at the beginning of the period | $ | 10 | $ | 19 | |||||||||||||||||||||||
Change in fair value recorded in earnings | (10 | ) | (3 | ) | |||||||||||||||||||||||
Balance at the end of the period | $ | - | $ | 16 | |||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||
Intangible assets include patents, trade names, software, non-compete agreements, customer relationships and trademarks that are amortized on a straight-line basis over periods ranging from three to ten years. The Company performs an ongoing review of its identified intangible assets to determine if facts and circumstances exist that indicate the useful life is shorter than originally estimated or the carrying amount may not be recoverable. If such facts and circumstances exist, the Company assesses the recoverability of identified intangible assets by comparing the projected undiscounted net cash flow associated with the related asset or group of assets over their remaining lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. As of the current reporting period, the Company’s remaining intangible assets, not including those related to the acquisition of CollabRx, were internally developed, which have a carrying value of zero. | |||||||||||||||||||||||||||
During fiscal year 2012, the Company, as part of its proposed sale of its intellectual property portfolio for Nanolayer Deposition Technology (“NLD”), completed the sale of two of the four lots for the received purchase price of approximately $3,750. During the quarter ended September 30, 2013, the Company sold the last two patent lots for approximately $365. The related commission expense of $89 was accrued. An additional $9 of related expenses was recognized. With this sale, the Company has no other intellectual property related to discontinued operations. NLD is a process technology that bridges the gap between high throughput, non-conformal chemical vapor deposition (“CVD”) and highly conformal, low throughput atomic layer deposition (“ALD”). The entire portfolio included over 35 US and international patents in the areas of pulsed-CVD, plasma-enhanced ALD, and NLD. | |||||||||||||||||||||||||||
With the acquisition of CollabRx, the Company acquired software, trade names, customer relationships, non-compete agreements and goodwill. The lives of the acquired intangible assets range from three to ten years. Intangible assets, except for trade names, are amortized on a straight-line basis. Intangible assets related to trade names are not amortized. The Company tests for impairment at least annually. The fair values of these assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount might not be recoverable. If undiscounted expected future cash flows are less than the carrying value of the assets, an impairment loss will be recognized based on the excess of the carrying amount over the fair value of the assets. The amortization expense for the six months ended September 30, 2013 and 2012 was $105 and $20, respectively. The amortization expense included in cost of revenue is related to the acquired software and is amortized on a straight-line basis over the expected life of the asset, which the Company believes to be ten years. | |||||||||||||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||||||||||||
Long-lived assets are reviewed for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, as well as at fiscal year end. If undiscounted expected future cash flows are less than the carrying value of the assets, an impairment loss is recognized based on the excess of the carrying amount over the fair value of the assets. | |||||||||||||||||||||||||||
The Company recorded zero disposal losses for fixed assets for the six months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||||
We have adopted several stock plans that provide for issuance of equity instruments to our employees and non-employee directors. Our plans include incentive and non-statutory stock options and restricted stock awards. These equity awards generally vest ratably over a four-year period on the anniversary date of the grant, and stock options expire ten years after the grant date. Certain restricted stock awards may vest on the achievement of specific performance targets. We also have an Employee Stock Purchase Plan (“ESPP”) that allows qualified employees to purchase Company shares at 85% of the fair market value on specified dates. | |||||||||||||||||||||||||||
Total stock-based compensation expense related to stock options and restricted stock units (“RSUs”) for the six months ended September 30, 2013 and 2012 was $175 and $312, respectively. The total compensation expense related to non-vested stock options and RSUs not yet recognized at September 30, 2013 is $551, and will be recognized over an estimated weighted average period of 3.0 and 1.74 years, respectively. | |||||||||||||||||||||||||||
The Company utilized the following valuation assumptions to estimate the fair value of options that were granted for the three month periods ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
STOCK OPTIONS: | 2013 | 2012 | |||||||||||||||||||||||||
Expected life (years) | 6 | 6 | |||||||||||||||||||||||||
Volatility | 152.4 | % | 157.5 | % | |||||||||||||||||||||||
Risk-free interest rate | 1.55 | % | 0.62 | % | |||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | |||||||||||||||||||||||
ESPP awards are valued using the Black-Scholes option pricing model with expected volatility calculated using a six-month historical volatility. No ESPP awards were made in the three month period ended September 30, 2013. | |||||||||||||||||||||||||||
Valuation and Other Assumptions for Stock Options | |||||||||||||||||||||||||||
Valuation and Amortization Method. We estimate the fair value of stock options granted using the Black-Scholes option pricing model. We estimate the fair value using a single option approach and amortize the fair value on a straight-line basis for options expected to vest. All options are amortized over the requisite service periods of the awards, which are generally the vesting periods. | |||||||||||||||||||||||||||
Expected Term. The expected term of options granted represents the period of time that the options are expected to be outstanding. We estimate the expected term of options granted based on our historical experience of exercises including post-vesting exercises and termination. | |||||||||||||||||||||||||||
Expected Volatility. We estimate the volatility of our stock options at the date of grant using historical volatilities. Historical volatilities are calculated based on the historical prices of our common stock over a period at least equal to the expected term of our option grants. | |||||||||||||||||||||||||||
Risk-Free Interest Rate. We base the risk-free interest rate used in the Black-Scholes option pricing model on the implied yield in effect at the time of option grant on U.S. Treasury zero-coupon issues with remaining terms equivalent to the expected term of our option grants. | |||||||||||||||||||||||||||
Dividends. We have never paid any cash dividends on common stock and we do not anticipate paying any cash dividends in the foreseeable future. | |||||||||||||||||||||||||||
Forfeitures. We use historical data to estimate pre-vesting option forfeitures. We record stock-based compensation expense only for those awards that are expected to vest. | |||||||||||||||||||||||||||
During the three months ended September 30, 2013, the Company granted 29,499 options. | |||||||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||||
A summary of the stock option activity during the six months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||||
Term (in Years) | |||||||||||||||||||||||||||
Beginning outstanding | 263,876 | $ | 10.23 | ||||||||||||||||||||||||
Granted | 29,499 | $ | 3.94 | ||||||||||||||||||||||||
Expired | -- | $ | - | ||||||||||||||||||||||||
Ending outstanding | 293,375 | $ | 9.6 | 7.34 | $ | 27,448.00 | |||||||||||||||||||||
Ending vested and expected to vest | 293,096 | $ | 9.59 | 7.34 | $ | 27,435.00 | |||||||||||||||||||||
Ending exercisable | 177,057 | $ | 13.32 | 6.17 | $ | 20,648.00 | |||||||||||||||||||||
The aggregate intrinsic value of stock options outstanding at September 30, 2013 is calculated as the difference between the exercise price of the underlying options and the market price of our common stock as of September 30, 2013. | |||||||||||||||||||||||||||
The following table summarizes information with respect to stock options outstanding as of September 30, 2013: | |||||||||||||||||||||||||||
Range of | Weighted- | ||||||||||||||||||||||||||
Exercise Prices | Number | Weighted- | Average | ||||||||||||||||||||||||
Outstanding | Average | Number | Exercise | ||||||||||||||||||||||||
As of | Remaining | Weighted- | Exercisable | Price | |||||||||||||||||||||||
September 30, | Contractual | Average | As of | As of | |||||||||||||||||||||||
2013 | Term | Exercise | September 30, | September 30, | |||||||||||||||||||||||
(in years) | Price | 2013 | 2013 | ||||||||||||||||||||||||
$ | 2.9 | $ | 6 | 193,828 | 8.98 | $ | 3.83 | 77,579 | $ | 3.75 | |||||||||||||||||
6.25 | 11.7 | 45,358 | 5.14 | 11.5 | 45,358 | 11.5 | |||||||||||||||||||||
17.8 | 28.1 | 39,244 | 3.97 | 21.63 | 39,244 | 21.63 | |||||||||||||||||||||
34.2 | 61.8 | 13,998 | 1.68 | 43.95 | 13,998 | 43.95 | |||||||||||||||||||||
89.52 | 174 | 947 | 0.93 | 93.95 | 878 | 93.95 | |||||||||||||||||||||
$ | 2.9 | $ | 174 | 293,375 | 7.34 | $ | 9.6 | 177,057 | $ | 13.32 | |||||||||||||||||
As of September 30, 2013, there was $282 of total unrecognized compensation cost related to outstanding options which the Company expects to recognize over an estimated weighted average period of 3.0 years. | |||||||||||||||||||||||||||
Restricted Stock Units | |||||||||||||||||||||||||||
The following table summarizes the Company’s unvested RSU activity for the six months ended September 30, 2013: | |||||||||||||||||||||||||||
Number | Weighted- | ||||||||||||||||||||||||||
of | Average | ||||||||||||||||||||||||||
Shares | Grant Date | ||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||
Balance March 31, 2013 | 183,904 | $ | 2.67 | ||||||||||||||||||||||||
Granted | - | $ | - | ||||||||||||||||||||||||
Forfeited | - | $ | - | ||||||||||||||||||||||||
Vested | (34,750 | ) | $ | 2.24 | |||||||||||||||||||||||
Balance, September 30, 2013 | 149,154 | $ | 2.77 | ||||||||||||||||||||||||
Unvested Restricted Stock at September 30, 2013 | |||||||||||||||||||||||||||
As of September 30, 2013, there was $269 of total unrecognized compensation cost related to outstanding RSUs, which the Company expects to recognize over an estimated weighted average period of 1.74 years. |
Earnings_Per_Share_EPS
Earnings Per Share (EPS) | 6 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share (EPS) [Abstract] | ' | ||||||||||||||||
Earnings Per Share (EPS) | ' | ||||||||||||||||
2. Earnings Per Share (EPS): | |||||||||||||||||
Basic EPS is computed by dividing net income (loss) available to common stockholders (numerator) by the weighted-average number of common shares outstanding (denominator) for the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. The computation of diluted EPS uses the average market prices during the period. | |||||||||||||||||
Basic net loss per common share is computed using the weighted-average number of shares of common stock outstanding. | |||||||||||||||||
The following table represents the calculation of basic and diluted net loss per common share: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Loss from continuing operations | $ | (836 | ) | $ | (1,281 | ) | $ | (1,515 | ) | $ | (1,959 | ) | |||||
Income (loss) from discontinued operations, net of taxes | 273 | (3 | ) | 155 | (4 | ) | |||||||||||
Net loss applicable to common stockholders | $ | (563 | ) | $ | (1,284 | ) | $ | (1,360 | ) | $ | (1,963 | ) | |||||
Basic and diluted: | |||||||||||||||||
Weighted-average common shares outstanding | 1,953 | 1,884 | 1,953 | 1,738 | |||||||||||||
Weighted-average common shares used in per share computation | 1,953 | 1,884 | 1,953 | 1,738 | |||||||||||||
Net loss per share from continuing operations: | |||||||||||||||||
Basic and diluted | $ | (0.43 | ) | $ | (0.68 | ) | $ | (0.78 | ) | $ | (1.13 | ) | |||||
Net income (loss) per share from discontinued operations: | |||||||||||||||||
Basic and diluted | $ | 0.14 | $ | (0.00 | ) | $ | 0.08 | $ | (0.00 | ) | |||||||
Net loss per share: | |||||||||||||||||
Basic and diluted | $ | (0.29 | ) | $ | (0.68 | ) | $ | (0.70 | ) | $ | (1.13 | ) | |||||
Outstanding options, RSUs and ESPP’s of 442,529 and 616,896 shares of common stock at a weighted-average exercise price per share of $10.14 and $6.76 on September 30, 2013 and 2012, respectively, were not included in the computation of diluted net loss per common share for the three month periods presented as a result of their anti-dilutive effect. Also, warrants to purchase 92,888 shares of common stock with a weighted average exercise price of $3.15 per share were not included in the computation of diluted net loss per common share. Such securities could potentially dilute earnings per share in future periods. |
Financial_Instruments
Financial Instruments | 6 Months Ended |
Sep. 30, 2013 | |
Financial Instruments [Abstract] | ' |
Financial Instruments | ' |
3. Financial Instruments: | |
The carrying amount of the Company’s financial instruments, including cash and cash equivalents, accounts receivable and accounts payable, notes receivable, accrued expenses and other liabilities approximates fair value due to their relatively short maturity. Prior to February 9, 2010, the Company sold products in various global markets. As a result, the Company was exposed to changes in foreign currency exchange rates. The Company does not hold derivative financial instruments for speculative purposes. Foreign currency transaction gains and (losses) included in other income (expense), was $0 for each three month period ended September 30, 2013 and 2012. On September 30, 2013, the Company had no open foreign exchange contracts to sell Euros or any other foreign currencies. Certain warrants expired on September 9, 2013. At September 30, 2013, the Company had zero liability associated with these warrants, which had an exercise price of $30.00. The Company recorded a non-cash gain of $10 and $3 in the six months ended September 30, 2013 and 2012, respectively, related to these warrants. | |
Changes in the exchange rate between the Euro and the U.S. dollar are currently immaterial to our operating results. Exposure to foreign currency exchange rate risk may increase over time as our business evolves. | |
The balance in note receivable at September 30, 2013 was $0. In the first quarter of the current fiscal year, the note receivable balance consisted of a loan related to the Company’s investment in CollabRx. After the completion of the acquisition of CollabRx, the note receivable was reclassified to be included as part of the purchase price, thereby extinguishing the $300 bridge loan previously extended to CollabRx. Also as part of the purchase price, the Company assumed $500 of existing CollabRx indebtedness through the issuance of promissory notes. The principal of the promissory notes is payable in equal installments on the third, fourth and fifth anniversaries of the date of issuance, along with the accrued but unpaid interest as of such dates. See Note 8 CollabRx Acquisition. | |
On November 22, 2011, the Company completed a $300 strategic investment in NanoVibronix, Inc., a private company that develops medical devices and products that implement its proprietary therapeutic ultrasound technology. The Company’s investment in NanoVibronix is in the form of a convertible promissory note that bears interest at a rate of 10% per year compounded annually and matures on November 15, 2014. Principal and accrued interest under the note automatically convert into shares of Series B-1 Participating Convertible Preferred Stock of NanoVibronix upon the earlier to occur of (i) a $3,000 (or larger) equity financing by NanoVibronix or (ii) a sale of NanoVibronix. In addition, the Company may convert principal and accrued interest under the note into shares of NanoVibronix Series B-1 Participating Convertible Preferred Stock at its election at any time. In either case, the conversion price is $0.284 per share. |
Discontinued_Operations
Discontinued Operations | 6 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Discontinued Operations | ' | ||||||||
4. Discontinued Operations: | |||||||||
Due to a sharp decline in revenues in its legacy Etch and PVD products as a result of the overall collapse of the semiconductor capital equipment market and global financial crisis in fiscal year 2009, the Company sold its legacy Etch and PVD assets in March 2010. The Company retained the DRIE products which it had acquired from AMMS, along with the Compact™ cluster platform and the NLD technology that it had developed over the past several years. As the semiconductor markets recovered, the Company was not in a position to make the needed investments to improve its competitive position. As a result, the Company also sold its DRIE and Compact related assets on February 9, 2011, but retained its NLD intellectual property. | |||||||||
As a result of the sale of the Company’s DRIE assets, and in accordance with GAAP, the DRIE business operations related to the designing, manufacturing, marketing and servicing of systems and parts within the semiconductor industry are presented as discontinued operations in our condensed consolidated balance sheets, condensed consolidated statements of operations and comprehensive loss and our condensed consolidated statements of cash flows. The exit from the DRIE operation was essentially completed by the end of the fourth quarter of our 2011 fiscal year. | |||||||||
On May 7, 2012, the Company received a VAT refund related to discontinued operations in its former French subsidiary in the amount of 312 Euros. This amount was recognized in other assets of discontinued operations. The settlement of this outstanding amount due was classified as a reduction of assets of discontinued operations. The related foreign exchange gain or loss was classified as a gain or loss on the sale of discontinued operations in the first quarter of the prior fiscal year. | |||||||||
In the three months ended June 30, 2013, the Company recognized a cash gain of $20 in discontinued operations as a result of final closing of bank accounts in its Italian subsidiary and a federal tax refund regarding discontinued operations, and a net $4 non cash gain related to the write off of discontinued assets and liabilities in its foreign subsidiaries. The Company also recognized a reclassification out of accumulated other comprehensive loss and into Loss from Discontinued Operations, net of taxes. The reclassification is related to the recognition of a non-cash loss of $142 from the foreign exchange differences from its former Tegal foreign subsidiaries, primarily as a result of the final closing the former Tegal German subsidiary. The Company received permission to close the German subsidiary in June 2013. No further audits or reviews are anticipated by foreign taxing authorities. | |||||||||
In the three months ended September 30, 2013, the Company recognized a net cash gain of $267 in discontinued operations as a result of the sale of the last two patent lots for approximately $365. With this sale, the Company has no remaining intellectual property related to discontinued operations. The Company also recognized $6 of income from discontinued operations. | |||||||||
September 30, | March 31, | ||||||||
2013 | 2013* | ||||||||
Assets of Discontinued Operations: | |||||||||
Accounts and other receivables, net of allowances for sales returns and doubtful accounts of $0 | $ | 365 | $ | 4 | |||||
Prepaid expenses and other current assets | - | 7 | |||||||
Total assets of discontinued operations | $ | 365 | $ | 11 | |||||
Liabilities of Discontinued Operations: | |||||||||
Accrued expenses and other current liabilities | $ | 89 | $ | 16 | |||||
Total liabilities of discontinued operations | $ | 89 | $ | 16 | |||||
* Derived from the Company’s audited consolidated financial statements. |
Geographical_and_Segment_Infor
Geographical and Segment Information | 6 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Geographical and Segment Information [Abstract] | ' | ||||||||||||||||
Geographical and Segment Information | ' | ||||||||||||||||
5. Geographical and Segment Information: | |||||||||||||||||
As of September 30, 2013, the Company’s source of revenue was related to genomics based technology information services. For the prior period, the Company’s source of revenue was the project activities of Sequel Power. The Company’s chief operating decision-maker has been identified as the President and Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire Company. | |||||||||||||||||
For geographical reporting, revenues are attributed to the geographic location in which the customers’ facilities are located. Long-lived assets consist of property, plant and equipment and are attributed to the geographic location in which they are located. For all periods presented, net sales by geographic region were all in the United States. | |||||||||||||||||
Revenues for the three and six months ended September 30, 2013 and 2012, respectively, are all part of continuing operations. | |||||||||||||||||
Revenue for the | Revenue for the | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Segment Revenue: | |||||||||||||||||
Genomics based technology information | $ | 251 | $ | 50 | $ | 521 | $ | 50 | |||||||||
Solar power management services | -- | 25 | -- | 50 | |||||||||||||
Total revenue | $ | 251 | $ | 75 | $ | 521 | $ | 100 | |||||||||
CollabRx’s genomics based technology information business will form the core of our business and operations going forward. Additionally, all long-lived assets are located in the United States and are included in continuing operations. There are no long-lived assets in discontinued operations. |
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 6 Months Ended |
Sep. 30, 2013 | |
Recent Accounting Pronouncements [Abstract] | ' |
Recent Accounting Pronouncements | ' |
6. Recent Accounting Pronouncements: | |
In October 2012, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2012-04, Technical Corrections and Improvements ("ASU 2012-04"), which makes certain technical corrections and “conforming fair value amendments” to the FASB Accounting Standards Codification. The amendments affect various Codification topics and apply to all reporting entities within the scope of those topics. These provisions of the amendment are effective upon issuance, except for amendments that are subject to transition guidance. The new guidance is effective for fiscal periods after December 15, 2012 and had no material impact on our consolidated financial statements. | |
In February 2013, the FASB issued ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. The new guidance requires entities to report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income unless the amounts are not reclassified in their entirety to net income. For amounts that are not required to be reclassified in their entirety to net income in the same reporting period, entities are required to cross-reference other disclosures that provide additional detail about those amounts. The new guidance is effective for fiscal periods after December 15, 2012 and had no material impact on our consolidated financial statements. See Note 4, Discontinued Operations. | |
In March 2013, the FASB issued ASU 2013-05, Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-05”). ASU 2013-05 clarifies that when a parent reporting entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity, the parent is required to apply the guidance in ASC 830-30 to release any related cumulative translation adjustment into net income. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. ASU 2013-05 is effective prospectively for fiscal years and interim reporting periods within those years beginning after December 15, 2013. The new guidance was adopted early and had no material impact on our consolidated financial statements. See Note 4, Discontinued Operations. | |
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists (a consensus of the FASB Emerging Issues Task Force) (“ASU 2013-11”). The new guidance requires entities to report an unrecognized tax benefit, or a portion of an unrecognized tax benefit, in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except as follows. To the extent a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction to settle any additional income taxes that would result from the disallowance of a tax position or the tax law of the applicable jurisdiction does not require the entity to use, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The assessment of whether a deferred tax asset is available is based on the unrecognized tax benefit and deferred tax asset that exist at the reporting date and should be made presuming disallowance of the tax position at the reporting date. The new guidance is effective prospectively for fiscal years and interim reporting periods within those years beginning after December 15, 2013. The Company does not expect the new guidance to have a material impact on our consolidated financial statements. |
Investments
Investments | 6 Months Ended |
Sep. 30, 2013 | |
Investments [Abstract] | ' |
Investments | ' |
7. Investments: | |
On November 22, 2011, the Company completed a $300 strategic investment in NanoVibronix, a private company that develops medical devices and products that implement its proprietary therapeutic ultrasound technology. NanoVibronix is focused on creating products utilizing its proprietary low-intensity surface acoustic wave (“SAW”) technology. The company's unique, patented approach enables the transmission of low-frequency, low-intensity ultrasound waves through a variety of soft, flexible materials, including skin and tissue, enabling low-cost, breakthrough devices targeted at large, high-growth markets. A copy of the Company’s press release was filed as an exhibit to the Company’s Form 8-K filed on November 29, 2011 and is incorporated herein by reference. | |
The Company’s investment in NanoVibronix is in the form of a convertible promissory note that bears interest at a rate of 10% per year compounded annually and matures on November 15, 2014. Principal and accrued interest under the note automatically convert into shares of Series B-1 Participating Convertible Preferred Stock of NanoVibronix upon the earlier to occur of (i) a $3,000 (or larger) equity financing by NanoVibronix or (ii) a sale of NanoVibronix. In addition, the Company may convert principal and accrued interest under the note into shares of NanoVibronix Series B-1 Participating Convertible Preferred Stock at its election at any time. In either case, the conversion price is $0.284 per share. |
CollabRx_Acquisition
CollabRx Acquisition | 6 Months Ended |
Sep. 30, 2013 | |
CollabRx Acquisition [Abstract] | ' |
CollabRx Acquisition | ' |
8. CollabRx Acquisition: | |
On July 12, 2012, we completed the acquisition of CollabRx, pursuant to the previously announced Merger Agreement, dated as of June 29, 2012. In connection with the Merger Agreement and the Employment Agreement dated as of June 29, 2012 by and among the Company and James Karis, on July 12, 2012, Mr. Karis, the former Chief Executive Officer of CollabRx, was appointed the Co-Chief Executive Officer and a director of the Company. In addition, pursuant to the Indemnity Agreement dated as of July 12, 2012 by and between the Company and James Karis (the “Indemnity Agreement”), Mr. Karis has been granted customary indemnification rights in connection with his position as an officer and director of the Company. | |
Additional information is set forth in the Company’s 8-K report filed on July 18, 2012, and is incorporated herein in its entirety by reference. | |
The allocation of the purchase price for the CollabRx acquisition is set forth in the Company’s Form 10-Q reports filed on November 14, 2012 and February 13, 2013, as well as its Form 10-K report filed on June 27, 2013. | |
On December 7, 2012, CollabRx and James M. Karis entered into an Amendment No. 1 (the “Employment Agreement Amendment”) to the Employment Agreement dated June 29, 2012 between the Company and Mr. Karis (the “Employment Agreement”). Pursuant to the Employment Agreement Amendment, Mr. Karis resigned as Co-Chief Executive Officer of the Company effective December 31, 2012 (the “Termination Date”) but will continue to serve as a director of the Company and provide consulting services to the Company from time to time after the Termination Date. In addition, the Company waived its entitlement to recoup from Mr. Karis his signing bonus and Mr. Karis agreed to amend his RSU Agreement to terminate vesting as of the Termination Date. The Company and Mr. Karis also agreed to a mutual release of claims. The full text of the Employment Agreement Amendment and the RSU Agreement amendment was filed as Exhibit 10.1 and 10.2 to the form 8-K filed on December 7, 2012, and is incorporated herein by reference in its entirety. | |
The Company recognized $20 and $41 in tax benefit in the three and six months ended September 30, 2013 respectively regarding the deferred tax liability related to this acquisition. | |
CollabRx offers cloud-based expert systems that provide clinically relevant interpretive knowledge to institutions, physicians, researchers and patients for genomics-based medicine in cancer and other diseases to inform health care decision-making. With access to over 75 clinical and scientific advisors at leading academic institutions and a suite of tools and processes that combine artificial intelligence-based analytics with proprietary interpretive content, CollabRx is well positioned to participate in the $300 billion value-added “big data” opportunity in the US health care market (as reported by McKinsey Global Institute), over half of which specifically targets areas in cancer and cancer genomics. CollabRx provides this market data information so investors may understand the relevance of our estimates. We believe that the estimated size of the big data opportunity in the US health care market is a good indicator of the increasing importance of this market to a wide spectrum of health care providers, researchers and value-chain participants. We know that within this large market, certain areas, including those that are directly addressed by CollabRx, are growing disproportionately because of advances in technology. Because the markets are emergent, and because our customers (particularly those within the diagnostic laboratory segment) are still developing their own multi-gene diagnostic tests in oncology, we currently do not have reliable, publicly-available estimates to accurately determine the size of that particular market. It is with the recent emergence of multi-biomarker testing and multi-gene panels, to date largely performed by a single private company, that the requirement for complex integration of interpretive data has become a recognizable need. Previously, genomic testing for cancer has was largely focused on single biomarkers, for which the interpretation is relatively straightforward. Such single biomarker tests have been available for several years from commercial diagnostic testing laboratories as well as from academic medical centers. | |
As the providers of testing platforms enable such testing at the individual laboratory level through increasingly more cost-effective technologies, and as more diagnostic labs develop their own tests based on these technologies, we believe that the market for independent interpretive analysis will expand rapidly. With regard to the market for our Therapy Finders and related products, we expect to garner some portion of the advertising budgets related to the marketing of cancer diagnostics and therapies, but we are not aware of any reliable, publicly-available estimates of market sizes for web-based tools of the type that we have developed. |
Subsequent_Events
Subsequent Events | 6 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
9. Subsequent Events: | |
None. |
Description_of_Business_and_Su1
Description of Business and Summary of Significant Accounting Policies (Policies) | 6 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||||||||||||
Discontinued Operations | |||||||||||||||||||||||||||
Since 2009, the Company has engaged in a process of transitioning away from its legacy lines of business in semiconductor capital equipment. As a result of the sale of the Company’s Deep Reactive Ion Etch (“DRIE”) assets in the fiscal year 2011, and in accordance with generally accepted accounting principles (“GAAP”), the DRIE business operations related to the designing, manufacturing, marketing and servicing of systems and parts within the semiconductor industry has been presented in discontinued operations in our condensed consolidated financial statements. The exit from the DRIE operation was essentially completed by the end of the fourth quarter of our 2011 fiscal year. However, the Company retained its intellectual property portfolio for Nanolayer Deposition Technology (“NLD”). During fiscal year 2012, the Company, as part of its proposed sale of its NLD portfolio, completed the sale transactions of two of four patent lots for approximately $3,750. The Company sold the last two patent lots for approximately $365 in the second quarter of the current fiscal year. Net revenue related to this sale was $267. With this sale, the Company has no other intellectual property related to discontinued operations. | |||||||||||||||||||||||||||
The Company recognized a reclassification out of accumulated other comprehensive loss and into Loss from Discontinued Operations, net of taxes. The reclassification is related to the recognition of a non-cash loss of $142 of foreign exchange differences from its former Tegal foreign subsidiaries, primarily as a result of the final closing of the former Tegal German subsidiary. The Company received permission to close the German subsidiary in June 2013. No further audits or reviews are anticipated by foreign taxing authorities. | |||||||||||||||||||||||||||
Basis of Presentation | ' | ||||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||||
In the opinion of management, the unaudited condensed consolidated interim financial statements have been prepared on the same basis as the March 31, 2013 audited consolidated financial statements and include all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the information set forth herein. The financial statements have been prepared in accordance with the regulations of the Securities and Exchange Commission (“SEC”), but omit certain information and footnote disclosures necessary to present the financial statements in accordance with GAAP. These interim condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2013. The results of operations for the three and six months ended September 30, 2013 are not necessarily indicative of results to be expected for the entire year. | |||||||||||||||||||||||||||
Use of Estimates | ' | ||||||||||||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could vary from those estimates. | |||||||||||||||||||||||||||
Concentration of Credit Risk | ' | ||||||||||||||||||||||||||
Concentration of Credit Risk | |||||||||||||||||||||||||||
Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash investments. The Company’s accounts receivable balance is also subject to credit risk. Substantially all of the Company’s liquid investments are invested in money market funds. The Company’s accounts receivable are derived primarily from sales to customers located in the United States. The Company performs ongoing credit evaluations of its customers and generally requires no collateral. The Company no longer maintains reserves for potential credit losses. There have been no write-offs during the periods presented. | |||||||||||||||||||||||||||
For the three and six months ended September 30, 2012, Sequel Power, LLC (“Sequel Power”) accounted for 33.3% and 50.0% of the Company’s revenue. Everyday Health accounted for 67.7% and 50.0% of the Company’s revenue for the same period. For the three and six months ended September 30, 2013, Life Technologies accounted for 99.6% and 96.0%, respectively, of the Company’s revenue. For the three and six months ended September 30, 2013, Everyday Health accounted for 0.0% and 3.8%, respectively, of the Company’s revenue. | |||||||||||||||||||||||||||
Life Technologies, Inc. has been a major contributor to our revenue and gross profit for the past two quarters, however we have funded the Company’s operating expenses primarily with cash on hand and the net proceeds from the sale of discontinued assets, as disclosed in prior filings. We are actively engaged in negotiations with several other companies who are interested in purchasing our content on similar terms or under annual subscriptions or software-as-a-service arrangements. | |||||||||||||||||||||||||||
For the period ended September 30, 2013, Life Technologies accounted for 100% of the balance in accounts receivable. The Company sold the last two patent lots of our NLD portfolio for approximately $365 in the second quarter of the current fiscal year. The related accounts receivable are recorded in other assets of discontinued operations. | |||||||||||||||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||||
The Company considers all highly liquid debt instruments having a maturity of three months or less on the date of purchase to be cash equivalents. | |||||||||||||||||||||||||||
At September 30, 2013 and March 31, 2013, all of the Company’s current investments are classified as cash equivalents in the condensed consolidated balance sheets. At September 30, 2013 and March 31, 2013, the fair value of the Company’s investments approximated cost. | |||||||||||||||||||||||||||
Promissory Notes | ' | ||||||||||||||||||||||||||
Promissory Notes | |||||||||||||||||||||||||||
On July 12, 2012, Tegal completed the acquisition of CollabRx. As part of the purchase price, Tegal issued promissory notes in the amount of $500 in exchange for the existing CollabRx indebtedness. The principal amount of the promissory notes is payable in equal installments on the third, fourth and fifth anniversaries of the date of issuance, along with the accrued but unpaid interest as of such dates. See Note 8, CollabRx Acquisition. | |||||||||||||||||||||||||||
On November 22, 2011, the Company completed a $300 strategic investment in NanoVibronix, Inc., (“NanoVibronix”) a private company that develops medical devices and products that implement its proprietary therapeutic ultrasound technology. The Company’s investment in NanoVibronix is in the form of a convertible promissory note that bears interest at a rate of 10% per year compounded annually and matures on November 15, 2014. | |||||||||||||||||||||||||||
At September 30, 2013 and March 31, 2013, the Convertible Promissory Note balance was $362 and $345, respectively, consisting of the original $300 investment and $62 and $45, respectively, in accrued interest. | |||||||||||||||||||||||||||
Accounts Receivable - Allowance for Sales Returns and Doubtful Accounts | ' | ||||||||||||||||||||||||||
Accounts Receivable – Allowance for Sales Returns and Doubtful Accounts | |||||||||||||||||||||||||||
For the six months ended September 30, 2013 and 2012, the Company had zero reserves for potential credit losses as such risk was determined to be insignificant. The Company had zero write-offs during the periods presented. The Company historically maintained an allowance for doubtful accounts receivable for estimated losses resulting from the inability of the Company’s customers to make required payments for system sales. | |||||||||||||||||||||||||||
Revenue Recognition | ' | ||||||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||||
Each contract sale of our interpretive data is evaluated individually in regard to revenue recognition. We have integrated in our evaluation the related guidance included in Accounting Standards Codification (“ASC”) Topic 605 – “Revenue Recognition”. We recognize revenue when persuasive evidence of an arrangement exists, the seller’s price is fixed or determinable and collectibility is reasonably assured. | |||||||||||||||||||||||||||
For arrangements that include multiple deliverables, we identify separate units of accounting based on the guidance under ASC 605-25 “Multiple Element Arrangements”, which provides that revenue arrangements with multiple deliverables should be divided into separate units of accounting, if certain criteria are met. The consideration of the arrangement is allocated to the separate units of accounting using the relative selling price method. Applicable revenue recognition criteria are considered separately for each separate unit of accounting. | |||||||||||||||||||||||||||
Revenue from fixed price contracts is recognized primarily under the percentage of completion method. Under this method we recognize estimated contract revenue and resulting income based on costs incurred to date as a percentage of the total estimated costs as we consider this model to best reflect the economics of these contracts. In such contracts, the Company’s efforts, measured by time incurred, typically represents the contractual milestones or output measure. If at any time during the contract period, we determine that a loss will occur, we recognize the loss in that period. Furthermore, if in previous periods a profit was recognized under the percentage-of completion method, the profit would be reversed during the period we determined a loss on the contract exists. | |||||||||||||||||||||||||||
Derivative Instruments | ' | ||||||||||||||||||||||||||
Derivative Instruments | |||||||||||||||||||||||||||
In June 2008, the Financial Accounting Standards Board (“FASB”) ratified the Emerging Issues Task Force (“EITF”) consensus on EITF Issue No. 07-05, Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity's Own Stock (“EITF Issue 07-05”) (Topic 815) which applies to the determination of whether any freestanding financial instruments or embedded features that have the characteristics of a derivative, as defined by Statement of Financial Accounting Standards (“SFAS”) No. 133 (Topic 815), Accounting for Derivative Instruments and Hedging Activities, and to any freestanding financial instruments are potentially indexed to an entity’s own common stock. EITF Issue No. 07-05 (Topic 815) became effective for fiscal years beginning after December 15, 2008. The Company adopted Topic 815 as of April 1, 2009. As a result, warrants to purchase 285,454 shares of our common stock previously treated as equity pursuant to the derivative treatment exemption were no longer afforded equity treatment. The warrants had exercise prices ranging from $30.00-$495.00 and expired or will expire between February 2010 and September 2013. As such, effective April 1, 2009, the Company reclassified the fair value of these warrants, which had exercise price reset features, from equity to liability status as if these warrants were treated as a derivative liability since their date of issue between February 2000 and January 2006. On April 1, 2009, the Company reclassified $346 from additional paid-in capital, as a cumulative effect adjustment, to beginning accumulated deficit, and $502 to common stock warrant liability to recognize the fair value of such warrants on such date. At September 30, 2013, the fair value of the warrants was $0, as these outstanding warrants expired on September 9, 2013. Previous determinations of the fair value of the warrants were calculated using the Black-Scholes pricing model. For the six months ended September 30, 2013 and 2012, respectively, the Company recorded non-cash gains of $10 and $3 related to these warrants. As of the reporting date, the Company has no other derivative instruments. | |||||||||||||||||||||||||||
Income Taxes | ' | ||||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||||
We account for income taxes in accordance with ASC Topic 740 – “Income Taxes”, which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax bases of recorded assets and liabilities. Under ASC 740, the liability method is used in accounting for income taxes. Deferred tax assets and liabilities are determined based on the differences between financial reporting and the tax basis of assets and liabilities, and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. ASC 740 also requires that deferred tax assets be reduced by a valuation allowance if it is more likely than not that some or all of the deferred tax asset will not be realized. We evaluate annually the realizability of our deferred tax assets by assessing our valuation allowance and by adjusting the amount of such allowance, if necessary. The factors used to assess the likelihood of realization include our forecast of future taxable income and available tax planning strategies that could be implemented to realize the net deferred tax assets. In 2013 and 2012, we have recorded a full valuation allowance for our deferred tax assets based on our past losses and uncertainty regarding our ability to project future taxable income. In future periods, if we are able to generate income we may reduce or eliminate the valuation allowance. | |||||||||||||||||||||||||||
Investment in Unconsolidated Affiliate | ' | ||||||||||||||||||||||||||
Investment in Unconsolidated Affiliate | |||||||||||||||||||||||||||
Sequel Power | |||||||||||||||||||||||||||
On January 14, 2011, we entered into a Formation and Contribution Agreement with se2quel Partners and Sequel Power. We contributed $2 million in cash to Sequel Power and issued warrants to purchase shares of our common stock in exchange for an approximate 25% ownership interest in Sequel Power. Sequel Power was focused on the promotion of solar power plant development projects worldwide. The management services provided to Sequel Power represented the Company’s sole source of revenue for fiscal 2012. We impaired the entire book value of our investment in Sequel Power on March 31, 2012. On March 21, 2013, Sequel Power and se2quel Partners irrevocably assigned and transferred to the Company for cancelation the balance of Sequel Power’s warrants representing the right to purchase 44,578 shares of the Company’s common stock, leaving a balance of 92,888 warrants still outstanding. In exchange, we agreed to terminate our Management Services Agreement and to waive receivables related to accrued fees thereunder. We do not anticipate making any additional investments in Sequel Power or any other solar-related businesses. | |||||||||||||||||||||||||||
Management evaluates our joint venture arrangements to determine whether they should be recorded on a consolidated basis. The percentage of ownership interest in the joint venture, an evaluation of control and whether a variable interest entity (“VIE”) exists are all considered in the consolidation assessment. | |||||||||||||||||||||||||||
We account for our investment in joint ventures where we own a non-controlling interest or where we are not the primary beneficiary of a VIE using the equity method of accounting. Under the equity method, our cost of investment is adjusted for our share of equity in the earnings of the unconsolidated affiliate and reduced by distributions received. | |||||||||||||||||||||||||||
Any differences between the cost of our investment in an unconsolidated affiliate and our underlying equity as reflected in the unconsolidated affiliate’s financial statements generally result from a different basis in assets contributed to the joint venture. The net difference between our investment in unconsolidated affiliates and the underlying equity of unconsolidated affiliates is generally amortized over a period of ten years, which was determined to be the estimated useful life of the underlying intangibles which created the difference in carrying amount. | |||||||||||||||||||||||||||
On a periodic basis, we assess whether there are any indicators that the fair value of our investments in unconsolidated affiliates may be impaired. An investment is impaired only if our estimate of the fair value of the investment is less than the carrying value of the investment, and such decline in value is deemed to be other than temporary. To the extent impairment has occurred, the loss is measured as the excess of the carrying amount of the investment over the fair value of the investment. Our estimates of fair value for each investment are based on a number of assumptions such as future revenue projections, operating forecasts, discount rates and capitalization rates, among others. These assumptions are subject to economic and market uncertainties. As these factors are difficult to predict and are subject to future events that may alter our assumptions, the fair values estimated in the impairment analyses may not be realized. | |||||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||||
Fair Value Measurements | |||||||||||||||||||||||||||
The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value measurements for assets and liabilities required or permitted to be recorded at fair value, we consider the principal or most advantageous market in which we would transact and we consider what assumptions market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The fair value hierarchy distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) an entity’s own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs). The fair value hierarchy consists of three broad levels, which gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy are described below: | |||||||||||||||||||||||||||
· | Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for assets or liabilities. | ||||||||||||||||||||||||||
· | Level 2: Directly or indirectly observable inputs as of the reporting date through correlation with market data, including quoted prices for similar assets and liabilities in active markets and quoted prices in markets that are not active. Level 2 also includes assets and liabilities that are valued using models or other pricing methodologies that do not require significant judgment since the input assumptions used in the models, such as interest rates and volatility factors, are corroborated by readily observable data from actively quoted markets for substantially the full term of the financial instrument. | ||||||||||||||||||||||||||
· | Level 3: Unobservable inputs that are supported by little or no market activity and reflect the use of significant management judgment. These values are generally determined using pricing models for which the assumptions utilize management’s estimates of market participant assumptions. | ||||||||||||||||||||||||||
In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible as well as considers counterparty credit risk in its assessment of fair value. | |||||||||||||||||||||||||||
The Company’s financial instruments consist primarily of money market funds. At September 30, 2013, all of our investments were classified as cash equivalents in the condensed consolidated balance sheets. The carrying amounts of our cash equivalents are valued using Level 1 inputs. Our cash equivalents total $2,791. The value of our warrant liability is determined using Level 3 inputs. The Company uses the Black-Scholes option pricing model as its method of valuation for warrants that are subject warrant liability accounting. The determination of the fair value as of the reporting date is affected by the Company’s stock price as well as assumptions regarding a number of highly complex and subjective variables which could provide differing variables. These variables include, but are not limited to, expected stock price volatility over the term of the security and risk free interest rate. In addition, the Black-Scholes option pricing model requires the input of an expected life for the securities for which we have estimated based upon the stage of the Company’s development. The fair value of the warrant liability is revalued each balance sheet date utilizing the Black-Scholes option pricing model computations with the decrease or increase in the fair value being reported in the Consolidated Statement of Operations and Comprehensive Loss as other income, net. A significant increase (decrease) of any of the subjective variables independent of other changes would result in a correlated increase (decrease) in the liability and an inverse effect on net income. | |||||||||||||||||||||||||||
At September 30, 2013, the Company’s warrant liability has been extinguished, and the Company has no other financial instruments subject to using Level 3 inputs. | |||||||||||||||||||||||||||
The change in the fair value of warrants is as follows: | |||||||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Balance at the beginning of the period | $ | 10 | $ | 19 | |||||||||||||||||||||||
Change in fair value recorded in earnings | (10 | ) | (3 | ) | |||||||||||||||||||||||
Balance at the end of the period | $ | - | $ | 16 | |||||||||||||||||||||||
Intangible Assets | ' | ||||||||||||||||||||||||||
Intangible Assets | |||||||||||||||||||||||||||
Intangible assets include patents, trade names, software, non-compete agreements, customer relationships and trademarks that are amortized on a straight-line basis over periods ranging from three to ten years. The Company performs an ongoing review of its identified intangible assets to determine if facts and circumstances exist that indicate the useful life is shorter than originally estimated or the carrying amount may not be recoverable. If such facts and circumstances exist, the Company assesses the recoverability of identified intangible assets by comparing the projected undiscounted net cash flow associated with the related asset or group of assets over their remaining lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. As of the current reporting period, the Company’s remaining intangible assets, not including those related to the acquisition of CollabRx, were internally developed, which have a carrying value of zero. | |||||||||||||||||||||||||||
During fiscal year 2012, the Company, as part of its proposed sale of its intellectual property portfolio for Nanolayer Deposition Technology (“NLD”), completed the sale of two of the four lots for the received purchase price of approximately $3,750. During the quarter ended September 30, 2013, the Company sold the last two patent lots for approximately $365. The related commission expense of $89 was accrued. An additional $9 of related expenses was recognized. With this sale, the Company has no other intellectual property related to discontinued operations. NLD is a process technology that bridges the gap between high throughput, non-conformal chemical vapor deposition (“CVD”) and highly conformal, low throughput atomic layer deposition (“ALD”). The entire portfolio included over 35 US and international patents in the areas of pulsed-CVD, plasma-enhanced ALD, and NLD. | |||||||||||||||||||||||||||
With the acquisition of CollabRx, the Company acquired software, trade names, customer relationships, non-compete agreements and goodwill. The lives of the acquired intangible assets range from three to ten years. Intangible assets, except for trade names, are amortized on a straight-line basis. Intangible assets related to trade names are not amortized. The Company tests for impairment at least annually. The fair values of these assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount might not be recoverable. If undiscounted expected future cash flows are less than the carrying value of the assets, an impairment loss will be recognized based on the excess of the carrying amount over the fair value of the assets. The amortization expense for the six months ended September 30, 2013 and 2012 was $105 and $20, respectively. The amortization expense included in cost of revenue is related to the acquired software and is amortized on a straight-line basis over the expected life of the asset, which the Company believes to be ten years. | |||||||||||||||||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||||||||||||||||
Impairment of Long-Lived Assets | |||||||||||||||||||||||||||
Long-lived assets are reviewed for indicators of impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable, as well as at fiscal year end. If undiscounted expected future cash flows are less than the carrying value of the assets, an impairment loss is recognized based on the excess of the carrying amount over the fair value of the assets. | |||||||||||||||||||||||||||
The Company recorded zero disposal losses for fixed assets for the six months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||||
Stock-Based Compensation | |||||||||||||||||||||||||||
We have adopted several stock plans that provide for issuance of equity instruments to our employees and non-employee directors. Our plans include incentive and non-statutory stock options and restricted stock awards. These equity awards generally vest ratably over a four-year period on the anniversary date of the grant, and stock options expire ten years after the grant date. Certain restricted stock awards may vest on the achievement of specific performance targets. We also have an Employee Stock Purchase Plan (“ESPP”) that allows qualified employees to purchase Company shares at 85% of the fair market value on specified dates. | |||||||||||||||||||||||||||
Total stock-based compensation expense related to stock options and restricted stock units (“RSUs”) for the six months ended September 30, 2013 and 2012 was $175 and $312, respectively. The total compensation expense related to non-vested stock options and RSUs not yet recognized at September 30, 2013 is $551, and will be recognized over an estimated weighted average period of 3.0 and 1.74 years, respectively. | |||||||||||||||||||||||||||
The Company utilized the following valuation assumptions to estimate the fair value of options that were granted for the three month periods ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
STOCK OPTIONS: | 2013 | 2012 | |||||||||||||||||||||||||
Expected life (years) | 6 | 6 | |||||||||||||||||||||||||
Volatility | 152.4 | % | 157.5 | % | |||||||||||||||||||||||
Risk-free interest rate | 1.55 | % | 0.62 | % | |||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | |||||||||||||||||||||||
ESPP awards are valued using the Black-Scholes option pricing model with expected volatility calculated using a six-month historical volatility. No ESPP awards were made in the three month period ended September 30, 2013. | |||||||||||||||||||||||||||
Valuation and Other Assumptions for Stock Options | |||||||||||||||||||||||||||
Valuation and Amortization Method. We estimate the fair value of stock options granted using the Black-Scholes option pricing model. We estimate the fair value using a single option approach and amortize the fair value on a straight-line basis for options expected to vest. All options are amortized over the requisite service periods of the awards, which are generally the vesting periods. | |||||||||||||||||||||||||||
Expected Term. The expected term of options granted represents the period of time that the options are expected to be outstanding. We estimate the expected term of options granted based on our historical experience of exercises including post-vesting exercises and termination. | |||||||||||||||||||||||||||
Expected Volatility. We estimate the volatility of our stock options at the date of grant using historical volatilities. Historical volatilities are calculated based on the historical prices of our common stock over a period at least equal to the expected term of our option grants. | |||||||||||||||||||||||||||
Risk-Free Interest Rate. We base the risk-free interest rate used in the Black-Scholes option pricing model on the implied yield in effect at the time of option grant on U.S. Treasury zero-coupon issues with remaining terms equivalent to the expected term of our option grants. | |||||||||||||||||||||||||||
Dividends. We have never paid any cash dividends on common stock and we do not anticipate paying any cash dividends in the foreseeable future. | |||||||||||||||||||||||||||
Forfeitures. We use historical data to estimate pre-vesting option forfeitures. We record stock-based compensation expense only for those awards that are expected to vest. | |||||||||||||||||||||||||||
During the three months ended September 30, 2013, the Company granted 29,499 options. | |||||||||||||||||||||||||||
Stock Options | |||||||||||||||||||||||||||
A summary of the stock option activity during the six months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||||
Term (in Years) | |||||||||||||||||||||||||||
Beginning outstanding | 263,876 | $ | 10.23 | ||||||||||||||||||||||||
Granted | 29,499 | $ | 3.94 | ||||||||||||||||||||||||
Expired | -- | $ | - | ||||||||||||||||||||||||
Ending outstanding | 293,375 | $ | 9.6 | 7.34 | $ | 27,448.00 | |||||||||||||||||||||
Ending vested and expected to vest | 293,096 | $ | 9.59 | 7.34 | $ | 27,435.00 | |||||||||||||||||||||
Ending exercisable | 177,057 | $ | 13.32 | 6.17 | $ | 20,648.00 | |||||||||||||||||||||
The aggregate intrinsic value of stock options outstanding at September 30, 2013 is calculated as the difference between the exercise price of the underlying options and the market price of our common stock as of September 30, 2013. | |||||||||||||||||||||||||||
The following table summarizes information with respect to stock options outstanding as of September 30, 2013: | |||||||||||||||||||||||||||
Range of | Weighted- | ||||||||||||||||||||||||||
Exercise Prices | Number | Weighted- | Average | ||||||||||||||||||||||||
Outstanding | Average | Number | Exercise | ||||||||||||||||||||||||
As of | Remaining | Weighted- | Exercisable | Price | |||||||||||||||||||||||
September 30, | Contractual | Average | As of | As of | |||||||||||||||||||||||
2013 | Term | Exercise | September 30, | September 30, | |||||||||||||||||||||||
(in years) | Price | 2013 | 2013 | ||||||||||||||||||||||||
$ | 2.9 | $ | 6 | 193,828 | 8.98 | $ | 3.83 | 77,579 | $ | 3.75 | |||||||||||||||||
6.25 | 11.7 | 45,358 | 5.14 | 11.5 | 45,358 | 11.5 | |||||||||||||||||||||
17.8 | 28.1 | 39,244 | 3.97 | 21.63 | 39,244 | 21.63 | |||||||||||||||||||||
34.2 | 61.8 | 13,998 | 1.68 | 43.95 | 13,998 | 43.95 | |||||||||||||||||||||
89.52 | 174 | 947 | 0.93 | 93.95 | 878 | 93.95 | |||||||||||||||||||||
$ | 2.9 | $ | 174 | 293,375 | 7.34 | $ | 9.6 | 177,057 | $ | 13.32 | |||||||||||||||||
As of September 30, 2013, there was $282 of total unrecognized compensation cost related to outstanding options which the Company expects to recognize over an estimated weighted average period of 3.0 years. | |||||||||||||||||||||||||||
Restricted Stock Units | |||||||||||||||||||||||||||
The following table summarizes the Company’s unvested RSU activity for the six months ended September 30, 2013: | |||||||||||||||||||||||||||
Number | Weighted- | ||||||||||||||||||||||||||
of | Average | ||||||||||||||||||||||||||
Shares | Grant Date | ||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||
Balance March 31, 2013 | 183,904 | $ | 2.67 | ||||||||||||||||||||||||
Granted | - | $ | - | ||||||||||||||||||||||||
Forfeited | - | $ | - | ||||||||||||||||||||||||
Vested | (34,750 | ) | $ | 2.24 | |||||||||||||||||||||||
Balance, September 30, 2013 | 149,154 | $ | 2.77 | ||||||||||||||||||||||||
Unvested Restricted Stock at September 30, 2013 | |||||||||||||||||||||||||||
As of September 30, 2013, there was $269 of total unrecognized compensation cost related to outstanding RSUs, which the Company expects to recognize over an estimated weighted average period of 1.74 years. |
Description_of_Business_and_Su2
Description of Business and Summary of Significant Accounting Policies (Tables) | 6 Months Ended | ||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||||
Change in the fair value of warrants | ' | ||||||||||||||||||||||||||
The change in the fair value of warrants is as follows: | |||||||||||||||||||||||||||
Six Months Ended | |||||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||||
Balance at the beginning of the period | $ | 10 | $ | 19 | |||||||||||||||||||||||
Change in fair value recorded in earnings | (10 | ) | (3 | ) | |||||||||||||||||||||||
Balance at the end of the period | $ | - | $ | 16 | |||||||||||||||||||||||
Valuation assumptions to estimate the fair value of options | ' | ||||||||||||||||||||||||||
The Company utilized the following valuation assumptions to estimate the fair value of options that were granted for the three month periods ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||||||||
STOCK OPTIONS: | 2013 | 2012 | |||||||||||||||||||||||||
Expected life (years) | 6 | 6 | |||||||||||||||||||||||||
Volatility | 152.4 | % | 157.5 | % | |||||||||||||||||||||||
Risk-free interest rate | 1.55 | % | 0.62 | % | |||||||||||||||||||||||
Dividend yield | 0 | % | 0 | % | |||||||||||||||||||||||
Stock option activity | ' | ||||||||||||||||||||||||||
A summary of the stock option activity during the six months ended September 30, 2013 is as follows: | |||||||||||||||||||||||||||
Shares | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||||||
Average | Average | Intrinsic | |||||||||||||||||||||||||
Exercise | Remaining | Value | |||||||||||||||||||||||||
Price | Contractual | ||||||||||||||||||||||||||
Term (in Years) | |||||||||||||||||||||||||||
Beginning outstanding | 263,876 | $ | 10.23 | ||||||||||||||||||||||||
Granted | 29,499 | $ | 3.94 | ||||||||||||||||||||||||
Expired | -- | $ | - | ||||||||||||||||||||||||
Ending outstanding | 293,375 | $ | 9.6 | 7.34 | $ | 27,448.00 | |||||||||||||||||||||
Ending vested and expected to vest | 293,096 | $ | 9.59 | 7.34 | $ | 27,435.00 | |||||||||||||||||||||
Ending exercisable | 177,057 | $ | 13.32 | 6.17 | $ | 20,648.00 | |||||||||||||||||||||
Stock options outstanding | ' | ||||||||||||||||||||||||||
The following table summarizes information with respect to stock options outstanding as of September 30, 2013: | |||||||||||||||||||||||||||
Range of | Weighted- | ||||||||||||||||||||||||||
Exercise Prices | Number | Weighted- | Average | ||||||||||||||||||||||||
Outstanding | Average | Number | Exercise | ||||||||||||||||||||||||
As of | Remaining | Weighted- | Exercisable | Price | |||||||||||||||||||||||
September 30, | Contractual | Average | As of | As of | |||||||||||||||||||||||
2013 | Term | Exercise | September 30, | September 30, | |||||||||||||||||||||||
(in years) | Price | 2013 | 2013 | ||||||||||||||||||||||||
$ | 2.9 | $ | 6 | 193,828 | 8.98 | $ | 3.83 | 77,579 | $ | 3.75 | |||||||||||||||||
6.25 | 11.7 | 45,358 | 5.14 | 11.5 | 45,358 | 11.5 | |||||||||||||||||||||
17.8 | 28.1 | 39,244 | 3.97 | 21.63 | 39,244 | 21.63 | |||||||||||||||||||||
34.2 | 61.8 | 13,998 | 1.68 | 43.95 | 13,998 | 43.95 | |||||||||||||||||||||
89.52 | 174 | 947 | 0.93 | 93.95 | 878 | 93.95 | |||||||||||||||||||||
$ | 2.9 | $ | 174 | 293,375 | 7.34 | $ | 9.6 | 177,057 | $ | 13.32 | |||||||||||||||||
Unvested RSU activity | ' | ||||||||||||||||||||||||||
The following table summarizes the Company’s unvested RSU activity for the six months ended September 30, 2013: | |||||||||||||||||||||||||||
Number | Weighted- | ||||||||||||||||||||||||||
of | Average | ||||||||||||||||||||||||||
Shares | Grant Date | ||||||||||||||||||||||||||
Fair Value | |||||||||||||||||||||||||||
Balance March 31, 2013 | 183,904 | $ | 2.67 | ||||||||||||||||||||||||
Granted | - | $ | - | ||||||||||||||||||||||||
Forfeited | - | $ | - | ||||||||||||||||||||||||
Vested | (34,750 | ) | $ | 2.24 | |||||||||||||||||||||||
Balance, September 30, 2013 | 149,154 | $ | 2.77 | ||||||||||||||||||||||||
Earnings_Per_Share_EPS_Tables
Earnings Per Share (EPS) (Tables) | 6 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share (EPS) [Abstract] | ' | ||||||||||||||||
Calculation of basic and diluted net income (loss) per common share | ' | ||||||||||||||||
The following table represents the calculation of basic and diluted net loss per common share: | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Loss from continuing operations | $ | (836 | ) | $ | (1,281 | ) | $ | (1,515 | ) | $ | (1,959 | ) | |||||
Income (loss) from discontinued operations, net of taxes | 273 | (3 | ) | 155 | (4 | ) | |||||||||||
Net loss applicable to common stockholders | $ | (563 | ) | $ | (1,284 | ) | $ | (1,360 | ) | $ | (1,963 | ) | |||||
Basic and diluted: | |||||||||||||||||
Weighted-average common shares outstanding | 1,953 | 1,884 | 1,953 | 1,738 | |||||||||||||
Weighted-average common shares used in per share computation | 1,953 | 1,884 | 1,953 | 1,738 | |||||||||||||
Net loss per share from continuing operations: | |||||||||||||||||
Basic and diluted | $ | (0.43 | ) | $ | (0.68 | ) | $ | (0.78 | ) | $ | (1.13 | ) | |||||
Net income (loss) per share from discontinued operations: | |||||||||||||||||
Basic and diluted | $ | 0.14 | $ | (0.00 | ) | $ | 0.08 | $ | (0.00 | ) | |||||||
Net loss per share: | |||||||||||||||||
Basic and diluted | $ | (0.29 | ) | $ | (0.68 | ) | $ | (0.70 | ) | $ | (1.13 | ) | |||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 6 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations [Abstract] | ' | ||||||||
Assets and Liabilities of Discontinued Operations Presented Separately | ' | ||||||||
The Company also recognized $6 of income from discontinued operations. | |||||||||
September 30, | March 31, | ||||||||
2013 | 2013* | ||||||||
Assets of Discontinued Operations: | |||||||||
Accounts and other receivables, net of allowances for sales returns and doubtful accounts of $0 | $ | 365 | $ | 4 | |||||
Prepaid expenses and other current assets | - | 7 | |||||||
Total assets of discontinued operations | $ | 365 | $ | 11 | |||||
Liabilities of Discontinued Operations: | |||||||||
Accrued expenses and other current liabilities | $ | 89 | $ | 16 | |||||
Total liabilities of discontinued operations | $ | 89 | $ | 16 | |||||
* Derived from the Company’s audited consolidated financial statements. |
Geographical_and_Segment_Infor1
Geographical and Segment Information (Tables) | 6 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Geographical and Segment Information [Abstract] | ' | ||||||||||||||||
Schedule of revenue for all part of continuing operation | ' | ||||||||||||||||
Revenues for the three and six months ended September 30, 2013 and 2012, respectively, are all part of continuing operations. | |||||||||||||||||
Revenue for the | Revenue for the | ||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Segment Revenue: | |||||||||||||||||
Genomics based technology information | $ | 251 | $ | 50 | $ | 521 | $ | 50 | |||||||||
Solar power management services | -- | 25 | -- | 50 | |||||||||||||
Total revenue | $ | 251 | $ | 75 | $ | 521 | $ | 100 | |||||||||
Description_of_Business_and_Su3
Description of Business and Summary of Significant Accounting Policies (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 6 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||
Jul. 12, 2012 | Nov. 22, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 21, 2013 | Jan. 14, 2011 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | ||
ClinicalandScientificAdvisor | Range $2.90 to $6.00 [Member] | Range $6.25 to $11.70 [Member] | Range $17.80 to $28.10 [Member] | Range $34.20 to $61.80 [Member] | Range $89.52 to 174.00 [Member] | Range $2.90 to $174.00 [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Restricted Stock Units (RSUs) [Member] | Sequel Power [Member] | Sequel Power [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Revenue [Member] | Accounts Receivable [Member] | Nanolayer Deposition Technology [Member] | Nanolayer Deposition Technology [Member] | |||||||||
Patents [Member] | Trademarks [Member] | Patents [Member] | Trademarks [Member] | Life Technologies [Member] | Life Technologies [Member] | Everyday Health [Member] | Everyday Health [Member] | Everyday Health [Member] | Everyday Health [Member] | Sequel Power [Member] | Sequel Power [Member] | Life Technologies [Member] | ||||||||||||||||||||||||||
Description of Business and Summary of Significant Accounting Policies [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss | ' | ' | $563,000 | ' | $1,284,000 | $1,360,000 | $1,963,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net cash used in operating activities | ' | ' | ' | ' | ' | 1,237,000 | 1,708,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number of clinical and scientific advisors | ' | ' | ' | ' | ' | 75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Cash equivalents | ' | ' | 2,791,000 | ' | ' | 2,791,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Proceeds from the sale of NLD patents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 365,000 | 3,750,000 | |
Commission expenses related to sale of patents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 89,000 | ' | |
Additional expenses recognized related to sale of patents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,000 | ' | |
Net Revenue from sale of two patent lots | ' | ' | 267,000 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 267,000 | ' | |
Discontinued operation, foreign currency translation | ' | ' | ' | ' | ' | 142,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Concentration risk (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.60% | 96.00% | 0.00% | 67.70% | 3.80% | 50.00% | 33.30% | 50.00% | 100.00% | ' | ' | |
Promissory Note [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Business acquisition effective date | 12-Jul-12 | ' | ' | ' | ' | 12-Jul-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Promissory note assumed | 500,000 | ' | 500,000 | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Note receivable used as consideration for CollabRx acquisition | ' | 300,000 | ' | ' | ' | 0 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Interest rate on promissory note (in hundredths) | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Promissory note maturity date | ' | 15-Nov-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Investment in convertible promissory note | ' | ' | 362,000 | ' | ' | 362,000 | ' | 345,000 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued interest on note receivable | ' | ' | 62,000 | ' | ' | 62,000 | ' | 45,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Warrants outstanding to purchase shares of common stock (in shares) | ' | ' | 285,454 | ' | ' | 285,454 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise price of warrants (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30 | ' | ' | $495 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Investment warrants expiration date range start | ' | ' | ' | ' | ' | 1-Feb-10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Investment warrants expiration date range end | ' | ' | ' | ' | ' | 1-Sep-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Reclassification from additional paid in capital to beginning accumulated deficit | ' | ' | 346,000 | ' | ' | 346,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Reclassification from additional paid in capital to common stock warrant liability | ' | ' | 502,000 | ' | ' | 502,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Fair value of warrants | ' | ' | 0 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Non cash gains on warrants | ' | ' | ' | ' | ' | 10,000 | 3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Equity investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ownership interest (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Warrants cancelled (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,578 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Warrants outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92,888 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Investment in Unconsolidated Affiliate [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Estimated useful life of the underlying intangibles | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | '10 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Change in the fair value of warrants [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Balance at the beginning of the period | ' | ' | ' | 10,000 | ' | 10,000 | 19,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Change in fair value recorded in earnings | ' | ' | ' | ' | ' | -10,000 | -3,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Balance at the end of the period | ' | ' | 0 | ' | 16,000 | 0 | 16,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Useful life | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | '10 years | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Amortization of intangible assets | ' | ' | ' | ' | ' | 105,000 | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock-Based Compensation [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Vesting period of equity awards | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock options expiry period | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Purchase price of shares to fair market value (in hundredths) | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total stock-based compensation expense related to stock options and restricted stock units | ' | ' | ' | ' | ' | 175,000 | 312,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total compensation expense related to non-vested stock options and RSUs not yet recognized | ' | ' | 551,000 | ' | ' | 551,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Valuation assumptions to estimate the fair value of options and ESPP [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Expected life (years) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Volatility (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 152.40% | 157.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Risk-free interest rate (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.55% | 0.62% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Dividend yield (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock option and warrant activity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Beginning outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 263,876 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,499 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Expected (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 293,375 | ' | 293,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending vested and expected to vest (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 293,096 | ' | 293,096 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending exercisable (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 177,057 | ' | 177,057 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted Average Exercise Price [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Beginning outstanding (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10.23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3.94 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Expired (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending outstanding (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.60 | ' | $9.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending vested and expected to vest (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9.59 | ' | $9.59 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending exercisable (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13.32 | ' | $13.32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted Average Remaining Contractual Term [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 4 months 2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending vested and expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 4 months 2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years 2 months 1 day | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Aggregate Intrinsic Value [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,448,000 | ' | 27,448,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending vested and expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,435,000 | ' | 27,435,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending exercisable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,648,000 | ' | 20,648,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total unrecognized compensation cost related to outstanding options and warrants | ' | ' | 282,000 | ' | ' | 282,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Period of recognition of total unrecognized compensation cost related to options outstanding | ' | ' | ' | ' | ' | '3 years | '1 year 8 months 26 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 8 months 26 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number of Shares [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Balance, March 31, 2012 (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 183,904 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Granted (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Forfeited (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Vested (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -34,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Balance, Dec. 31, 2012 (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 149,154 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted Average Grant Date Fair Value [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Balance March 31, 2013 (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.67 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Granted (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Forfeited (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Vested (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Balance, June 30, 2013 (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.77 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Total unrecognized compensation cost related to outstanding RSUs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $269,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Period of recognition of total unrecognized compensation cost | ' | ' | ' | ' | ' | '3 years | '1 year 8 months 26 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year 8 months 26 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Range of Exercise Prices, Lower Range Limit (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $2.90 | $6.25 | $17.80 | $34.20 | $89.52 | $2.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Range of Exercise Prices, Upper Range Limit (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $6 | $11.70 | $28.10 | $61.80 | $174 | $174 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number Outstanding (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 193,828 | 45,358 | 39,244 | 13,998 | 947 | 293,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | '8 years 11 months 23 days | '5 years 1 month 20 days | '3 years 11 months 19 days | '1 year 8 months 5 days | '11 months 5 days | '7 years 4 months 2 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted Average Exercise Price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.83 | $11.50 | $21.63 | $43.95 | $93.95 | $9.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number Exercisable (in shares) | ' | ' | ' | ' | ' | ' | ' | ' | 77,579 | 45,358 | 39,244 | 13,998 | 878 | 177,057 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Weighted Average Exercise Price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $3.75 | $11.50 | $21.63 | $43.95 | $93.95 | $13.32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | Derived from the Company's audited consolidated financial statements. |
Earnings_Per_Share_EPS_Details
Earnings Per Share (EPS) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share (EPS) [Abstract] | ' | ' | ' | ' |
Loss from continuing operations | ($836) | ($1,281) | ($1,515) | ($1,959) |
Income (loss) from discontinued operations, net of taxes | 273 | -3 | 155 | -4 |
Net loss | ($563) | ($1,284) | ($1,360) | ($1,963) |
Basic and diluted [Abstract] | ' | ' | ' | ' |
Weighted-average common shares outstanding (in shares) | 1,953 | 1,884 | 1,953 | 1,738 |
Weighted-average common shares used in per share computation (in shares) | 1,953,000 | 1,884,000 | 1,953,000 | 1,738,000 |
Net loss per share [Abstract] | ' | ' | ' | ' |
Basic and diluted - Continuing operations (in dollars per share) | ($0.43) | ($0.68) | ($0.78) | ($1.13) |
Basic and diluted - Discontinued operations (in dollars per share) | $0.14 | $0 | $0.08 | $0 |
Basic and diluted (in dollars per share) | ($0.29) | ($0.68) | ($0.70) | ($1.13) |
Options, RSUs and ESPP's [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Securities not included in the computation of diluted net (loss) income per common share (in shares) | ' | ' | 442,529 | 616,896 |
Weighted average exercise price of options, RSUs and ESPP's (in dollars per share) | ' | ' | $10.14 | $6.76 |
Warrants [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Securities not included in the computation of diluted net (loss) income per common share (in shares) | ' | ' | ' | 92,888 |
Weighted average exercise price of options, RSUs and ESPP's (in dollars per share) | ' | ' | ' | $3.15 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | 3 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Mar. 31, 2013 | Jul. 12, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 22, 2011 | Sep. 30, 2013 | |
Contract | Nano Vibronix [Member] | Nano Vibronix [Member] | Nano Vibronix [Member] | Nano Vibronix [Member] | Liability Warrants Having Exercise Price 30 [Member] | ||||||||
Convertible Promissory Note [Member] | Convertible Promissory Note [Member] | ||||||||||||
Financial Instruments [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Foreign currency transaction gains and (losses) | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Number of open foreign exchange contracts | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | |
Class of Warrant or Right [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Warrants outstanding (in shares) | 285,454 | ' | 285,454 | ' | ' | ' | ' | ' | ' | ' | ' | 8,288 | |
Exercise price of warrants outstanding (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $30 | |
Non cash gains on warrants | ' | ' | 10 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | |
Note receivable - CollabRx | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Debt extinguishment as a consideration of acquisition | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Promissory note liability assumed as a purchase price of acquisition | 500 | ' | 500 | ' | ' | ' | 500 | ' | ' | ' | ' | ' | |
Investment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Strategic investment | 362 | ' | 362 | ' | ' | 345 | [1] | ' | ' | ' | ' | 300 | ' |
Interest rate on convertible promissory note (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | |
Maturity date of convertible promissory note | ' | ' | ' | ' | ' | ' | ' | 15-Nov-14 | 15-Nov-14 | ' | ' | ' | |
Convertible preferred stock | ' | ' | ' | ' | ' | ' | ' | $3,000 | $3,000 | ' | ' | ' | |
Conversion price (in dollars per share) | ' | ' | ' | ' | ' | ' | ' | $0.28 | $0.28 | ' | ' | ' | |
[1] | Derived from the Company's audited consolidated financial statements. |
Discontinued_Operations_Detail
Discontinued Operations (Details) | 0 Months Ended | 3 Months Ended | 6 Months Ended | |||||
In Thousands, unless otherwise specified | 7-May-12 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | |
EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||
Discontinued Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | |
Tax refund related to discontinued operations | € 312 | ' | ' | ' | ' | ' | ' | |
Cash gain from discontinued operations | ' | 267 | 20 | ' | ' | ' | ' | |
Non cash gain related to write off of discontinued assets and liabilities | ' | ' | 4 | ' | ' | ' | ' | |
Non cash loss from the foreign exchange differences | ' | ' | 142 | ' | ' | ' | ' | |
Income (loss) from discontinued operations, net of taxes | ' | 6 | ' | -3 | -112 | -4 | ' | |
Assets of Discontinued Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | |
Accounts and other receivables, net of allowances for sales returns and doubtful accounts of $0 | ' | 365 | ' | ' | 365 | ' | 4 | [1] |
Prepaid expenses and other current assets | ' | 0 | ' | ' | 0 | ' | 7 | [1] |
Total assets of discontinued operations | ' | 365 | ' | ' | 365 | ' | 11 | [1] |
Liabilities of Discontinued Operation [Abstract] | ' | ' | ' | ' | ' | ' | ' | |
Accrued expenses and other current liabilities | ' | 89 | ' | ' | 89 | ' | 16 | [1] |
Total liabilities of discontinued operations | ' | 89 | ' | ' | 89 | ' | 16 | [1] |
Accounts and other receivables, allowances for sales return | ' | $0 | ' | ' | $0 | ' | ' | |
[1] | Derived from the Company's audited consolidated financial statements. |
Geographical_and_Segment_Infor2
Geographical and Segment Information (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Sales to customers located in [Abstract] | ' | ' | ' | ' |
Total sales | $251 | $75 | $521 | $100 |
Genomics Based Technology Information [Member] | ' | ' | ' | ' |
Sales to customers located in [Abstract] | ' | ' | ' | ' |
Total sales | 251 | 50 | 521 | 50 |
Solar Power Management Services [Member] | ' | ' | ' | ' |
Sales to customers located in [Abstract] | ' | ' | ' | ' |
Total sales | $0 | $25 | $0 | $50 |
Investments_Details
Investments (Details) (USD $) | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Nov. 22, 2011 | |
In Thousands, except Per Share data, unless otherwise specified | Nano Vibronix [Member] | Nano Vibronix [Member] | Nano Vibronix [Member] | Nano Vibronix [Member] | |||
Convertible Promissory Note [Member] | Convertible Promissory Note [Member] | ||||||
Nano Vibronix Transaction [Abstract] | ' | ' | ' | ' | ' | ' | |
Strategic investment | $362 | $345 | [1] | ' | ' | ' | $300 |
Interest rate on convertible promissory note (in hundredths) | ' | ' | ' | ' | 10.00% | ' | |
Maturity date of convertible promissory note | ' | ' | 15-Nov-14 | 15-Nov-14 | ' | ' | |
Conversion into Series B-1 Participating Convertible Preferred Stock | ' | ' | $3,000 | $3,000 | ' | ' | |
Conversion price (in dollars per share) | ' | ' | $0.28 | $0.28 | ' | ' | |
[1] | Derived from the Company's audited consolidated financial statements. |
CollabRx_Acquisition_Details
CollabRx Acquisition (Details) (USD $) | 0 Months Ended | 3 Months Ended | 6 Months Ended |
Jul. 12, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
ClinicalandScientificAdvisor | |||
CollabRx Acquisition [Abstract] | ' | ' | ' |
Business acquisition effective date | 12-Jul-12 | ' | 12-Jul-12 |
Acquisition agreement date | ' | ' | 29-Jun-12 |
Assets acquired [Abstract] | ' | ' | ' |
Number of clinical and scientific advisors | ' | ' | 75 |
"Big data" opportunity value | ' | $300,000,000,000 | $300,000,000,000 |
Tax benefit recognized | ' | $20,000 | $41,000 |