Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.6.0.2
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2016
Mar. 31, 2016
Current assets:    
Cash and cash equivalents $ 4,372,000 $ 428,500
Sublicense fee receivable 1,250,000 0
Prepaid expenses and other current assets 146,400 426,800
Total current assets 5,768,400 855,300
Property and equipment, net 59,900 87,600
Security deposits and other assets 47,800 46,900
Total assets 5,876,100 989,800
Current liabilities:    
Accounts payable 874,400 936,000
Accrued expenses 961,800 814,000
Current portion of notes payable and accrued interest 35,800 43,600
Capital lease obligations 300 1,100
Total current liabilities 1,872,300 1,794,700
Non-current liabilities:    
Notes payable 0 27,200
Accrued dividends on Series B Preferred Stock 1,339,300 2,089,600
Deferred rent liability 75,900 55,500
Total non-current liabilities 1,415,200 2,172,300
Total liabilities 3,287,500 3,967,000
Commitments and contingencies  
Stockholders' deficit:    
Common stock, $0.001 par value; 30,000,000 shares authorized at December 31, 2016 and March 31, 2016; 8,717,136 and 2,623,145 shares issued at December 31, 2016 and March 31, 2016, respectively 8,700 2,600
Additional paid-in capital 145,993,900 132,725,000
Treasury stock, at cost, 135,665 shares of common stock held at December 31, 2016 and March 31, 2016 (3,968,100) (3,968,100)
Accumulated deficit (139,449,900) (131,743,200)
Total stockholders' equity (deficit) 2,588,600 (2,977,200)
Total liabilities and stockholders' equity (deficit) 5,876,100 989,800
Series A Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock 500 500
Series B Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock 1,200 3,700
Series C Preferred Stock [Member]    
Stockholders' deficit:    
Preferred stock $ 2,300 $ 2,300