Income Taxes (Tables)

12 Months Ended

Mar. 31, 2014

Income Taxes [Abstract]

Schedule of Deferred Tax Assets

Significant components of the Company’s deferred tax assets as of March 31, 2014 and 2013 are shown below:

	March 31,
		2014		2013
	(000’s)
Deferred tax assets:
Net operating loss carryforward	$	15,379	$	13,505
Research credits		60		51
Expenses recognized for granting of options and warrants		1,651		1,319
Accrued expenses and reserves		135		32
Valuation allowance		(17,225)		(14,907)
	$	—	$	—

Schedule of Income Tax Provision

The income tax provision differs from that computed using the federal statutory rate applied to income before taxes as follows:

	March 31,
	2014		2013
Computed tax benefit at federal statutory rate	$	(6,650,000)	$	(2,169,000)
State tax, net of federal benefit		(327,000)		(359,000)
Warrant MTM Adjustment		(7,000)		(6,000)
Induced conversion costs		4,663,000		—
Interest expense		—		1,000
Permanent items and other		4,600		215,600
Valuation allowance		2,318,000		2,319,000
	$	1,600	$	1,600