Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
9 Months Ended
Dec. 31, 2013
Fair Value Measurements Tables  
Fair value heirarchy for liabilities measured at fair value on a recurring basis
          Fair Value Measurements at Reporting Date Using  
   

 

Total

Carrying

Value

   

Quoted Prices in

Active Markets for

Identical Assets

(Level 1)

   

Significant Other

Observable Inputs

(Level 2)

   

  Significant Unobservable

Inputs

(Level 3)

 
December 31, 2013:                        
 Warrant liability   $ 2,717,100     $ -     $ -     $ 2,717,100  
March 31, 2013:                                
 Warrant liability   $ 6,394,000     $ -     $ -     $ 6,394,000  
Changes in Level 3 liabilities
   

Fair Value Measurements

Using Significant

Unobservable Inputs

(Level 3)

 
       
    Warrant Liability  
Balance at March 31, 2013   $ 6,394,000  
Recognition of warrant liability upon issuance of Senior Secured Convertible Promissory Note and warrant to Platinum on July 26, 2013     146,800  
Mark to market gain included in net loss     (3,823,700 )
Balance at December 31, 2013   $ 2,717,100