Related Party Transactions

3 Months Ended

Jun. 30, 2011

Related Party Transactions [Abstract]

Related Party Transactions

7. Related Party Transactions

Of the private placement notes described in Note 6 — Loans Payable, $450,000 of original principal was invested by related parties on terms identical to those given to the other private placement note investors. At June 30, 2011 and March 31, 2011, the outstanding principal balance of these notes was $0 and $51,108, respectively.

The Company paid to Camelot Financial Capital Management (whose President is Simon Williams, a member of our Board) during the three months ended June 30, 2011 and 2010, $15,000 and $21,323, respectively, for consulting services that they provided to the Company.

Our affiliates, including our executive officers, directors and 5% stockholders, also have funded portions of loan requests from time to time in the past, and may do so in the future. For the three months ended June 30, 2011, these affiliates had funded $67,175 of new loan requests and their outstanding principal balance was $710,457 as of June 30, 2011. For the three months ended June 30, 2010, these affiliates had funded $456,875 of new loan requests and their outstanding principal balance was $589,935 as of June 30, 2010.

As of June 30, 2011, the Company had a receivable balance due from an affiliated fund of $48,950.