Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2014
Mar. 31, 2013
Current assets:    
Cash and cash equivalents      
Prepaid expenses and other current assets 189,900 40,500
Total current assets 189,900 40,500
Property and equipment, net 150,100 176,300
Security deposits and other assets 46,900 46,900
Total assets 386,900 263,700
Current liabilities:    
Accounts payable 2,247,600 2,443,900
Accrued expenses 857,400 625,600
Advance from officer    3,600
Current portion of notes payable and accrued interest 1,901,700 1,442,300
Current portion of notes payable to related parties and accrued interest 322,900 290,400
Convertible promissory notes and accrued interest, net of discount of $1,251,000 and $697,400 at September 30, 2014 and March 31, 2014, respectively 1,563,000 396,000
Capital lease obligations 900 3,900
Total current liabilities 6,893,500 5,205,700
Non-current liabilities:    
Senior secured convertible promissory notes, net of discount of 0 at September 30, 2014 and $2,085,900 at Marchi 31, 2014 and accrued interest 4,224,200 1,929,800
Notes payable, net of discount of $672,700 at September 30, 2014 and $848,100 at March 31, 2014 and 2,041,400 1,797,600
Notes payable to related parties, net of discount of $79,600 at September 30, 2014 and $103,200 at March 31, 2014 and accrued interest 1,103,600 1,057,100
Warrant liability 3,399,400 2,973,900
Deferred rent liability 92,400 97,400
Capital lease obligations 1,600 2,100
Total non-current liabilities 10,862,600 7,857,900
Total liabilities 17,756,100 13,063,600
Commitments and contingencies      
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares, including 500,000 Series A shares, authorized at September 30, 2014 and March 31, 2014; 500,000 Series A shares issued and outstanding at September 30, 2014 and March 31, 2014 500 500
Common stock, $0.001 par value; 10,000,000 shares authorized at September 30, 2014 and March 31, 2014; 1,421,343 and 1,310,093 shares issued at September 30, 2014 and March 31, 2014, respectively 1,400 1,300
Additional paid-in capital 64,001,000 62,001,400
Treasury stock, at cost, 135,665 shares of common stock held at September 30, 2014 and March 31, 2014 (3,968,100) (3,968,100)
Notes receivable from sale of common stock (192,900) (198,100)
Accumulated deficit (77,211,100) (70,636,900)
Total stockholders' deficit (17,369,200) (12,799,900)
Total liabilities and stockholders' deficit $ 386,900 $ 263,700