CAPITAL STOCK	9 Months Ended
Dec. 31, 2015
CAPITAL STOCK
CAPITAL STOCK	NOTE 12 - CAPITAL STOCK Preferred Stock We have 10,000,000 authorized shares of preferred stock and our board of directors has broad power to create one or more series of preferred stock and to designate the rights, preferences, privileges and limitations of the holders of such series. Our board of directors has created one series of preferred stock - the Series A Convertible Preferred Stock. Each share of Series A Convertible Preferred Stock was initially convertible into one share of common stock. As a result of our failure to meet certain levels of earnings before interest, taxes, depreciation and amortization for the years ended March 31, 2006 and 2007, the conversion rate changed, and each share of Series A Convertible Preferred Stock became convertible into 1.3072 shares of common stock, with an effective conversion price of $0.218. During the nine months ended December 31, 2015 and 2014, 1,927,508 and 550,000 shares of Series A Convertible Preferred Stock were converted into 2,519,634 and 718,954 shares of common stock, respectively. There were no shares of Series A Convertible Preferred Stock outstanding at December 31, 2015, as the last outstanding shares of Series A Convertible Preferred Stock were converted into shares of common stock on September 24, 2015. There were 1,927,508 shares of Series A Convertible Preferred Stock outstanding at March 31, 2015. Based on the most recent conversion ratio, there were zero and 2,519,634 common shares underlying the Series A Convertible Preferred Stock as of December 31, 2015 and March 31, 2015, respectively. Common Stock We had 90,000,000 authorized shares of common stock at December 31, 2015 and March 31, 2015. There were 27,324,593 and 24,669,958 shares of common stock outstanding at December 31, 2015 and March 31, 2015, respectively. For the nine months ended December 31, 2015 we issued 2,519,634 shares of common stock in connection with conversions of Series A Convertible Preferred Stock. For the nine months ended December 31, 2014, we issued 718,954 shares of common stock in connection with conversions of Series A Convertible Preferred Stock.

CAPITAL STOCK

9 Months Ended

Dec. 31, 2015

NOTE 12 - CAPITAL STOCK

Preferred Stock

We have 10,000,000 authorized shares of preferred stock and our board of directors has broad power to create one or more series of preferred stock and to designate the rights, preferences, privileges and limitations of the holders of such series. Our board of directors has created one series of preferred stock - the Series A Convertible Preferred Stock.

Each share of Series A Convertible Preferred Stock was initially convertible into one share of common stock. As a result of our failure to meet certain levels of earnings before interest, taxes, depreciation and amortization for the years ended March 31, 2006 and 2007, the conversion rate changed, and each share of Series A Convertible Preferred Stock became convertible into 1.3072 shares of common stock, with an effective conversion price of $0.218.

During the nine months ended December 31, 2015 and 2014, 1,927,508 and 550,000 shares of Series A Convertible Preferred Stock were converted into 2,519,634 and 718,954 shares of common stock, respectively. There were no shares of Series A Convertible Preferred Stock outstanding at December 31, 2015, as the last outstanding shares of Series A Convertible Preferred Stock were converted into shares of common stock on September 24, 2015. There were 1,927,508 shares of Series A Convertible Preferred Stock outstanding at March 31, 2015. Based on the most recent conversion ratio, there were zero and 2,519,634 common shares underlying the Series A Convertible Preferred Stock as of December 31, 2015 and March 31, 2015, respectively.

Common Stock

We had 90,000,000 authorized shares of common stock at December 31, 2015 and March 31, 2015. There were 27,324,593 and 24,669,958 shares of common stock outstanding at December 31, 2015 and March 31, 2015, respectively. For the nine months ended December 31, 2015 we issued 2,519,634 shares of common stock in connection with conversions of Series A Convertible Preferred Stock. For the nine months ended December 31, 2014, we issued 718,954 shares of common stock in connection with conversions of Series A Convertible Preferred Stock.