INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of the credit for income taxes are as follows:

	Year Ended March 31,
	2016		2015		2014
Federal:
Current	$	—	$	—	$	—
Deferred		—		—		—
State
Current		(4,048)	$	(3,248)	$	(3,099)
Deferred		—		—		—
Sale of New Jersey Net Operating Losses		524,500		—		295,710
Net Credit for Income Taxes	$	520,452	$	(3,248)	$	292,611

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The Major components of deferred tax assets and liabilities at March 31, 2016 and 2015 are as follows (amounts in thousands of dollars):

	March 31,
	2016		2015		2014
Federal
Net Operating Loss Carry forward	$	27,033	$	24,547	$	19,813
Valuation Allowance		(27,033)		(24,547)		(19,813)
	$	—	$	—	$	—
State
Net Operating Loss Carryforwards	$	2,722	$	2,602	$	1,318
Valuation Allowance		(2,722)		(2,602)		(1,318)
	$	—	$	—	$	—