Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash flows from operating activities:    
Net loss $ (6,574,200) $ (1,274,100)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 26,200 25,800
Amortization of discounts on convertible and promissory notes 799,000 202,000
Change in warrant liability 425,400 (1,883,500)
Stock-based compensation 408,400 424,300
Expense related to modification of warrants    (32,900)
Non-cash rent and relocation expense (5,000) 40,800
Interest income on note receivable for stock purchase 1,600 (500)
Fair value of common stock granted for services 134,000   
Fair value of warrants granted for services and interest 29,900 46,600
Gain on currency fluctuation (200) (9,300)
Loss on extinguishment of debt 2,371,400   
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (52,100) 3,300
Security deposits and other assets    (17,900)
Accounts payable and accrued expenses, including accrued interest 902,200 1,159,000
Net cash used in operating activities (1,533,400) (1,316,400)
Cash flows from investing activities:    
Purchases of equipment, net    (33,700)
Net cash used in investing activities    (33,700)
Cash flows from financing activities:    
Net proceeds from issuance of common stock and warrants, including Units 1,730,200 267,300
Proceeds from exercise of modified warrants    264,200
Proceeds from sale of note and warrant to Platinum    250,000
Advance from officer    30,000
Repayment of capital lease obligations (3,500) (2,700)
Repayment of notes (193,300) (90,300)
Net cash provided by financing activities 1,533,400 718,500
Net (decrease) increase in cash and cash equivalents    (631,600)
Cash and cash equivalents at beginning of period    638,100
Cash and cash equivalents at end of period    $ 6,500