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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended 166 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Mar. 31, 2012
Cash flows from operating activities:      
Net loss $ (12,209,500) $ (9,482,200) $ (54,782,500)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 45,600 45,300 743,700
Amortization of discounts on 7%, 7.5% and 10% notes 57,200 71,000 259,200
Amortization of discounts on Platinum notes 909,000 1,376,600 3,548,700
Amortization of discounts on August 2010 short-term notes 14,300 557,700 572,000
Amortization of discounts on February 2012 12% convertible notes (4,200)    (4,200)
Change in put and note term extension option and warrant liabilities 77,900 (203,900) (418,600)
Fair value of Series C preferred stock, common stock, and warrants granted for services prior to the Merger 131,200    1,056,600
Stock-based compensation 1,591,300 1,628,800 4,354,300
Loss on early extinguishment of debt 1,193,500    1,193,500
Expense related to modification of warrants 741,700    741,700
Fair value of common stock granted for services following the Merger 452,000   452,000
Fair value of warrants granted for services following the Merger 564,500    564,500
Fair value of additional warrants granted under Discounted Warrant Exercise Program 138,100    138,100
Fair value of common stock issued for note term modification 22,400    22,400
Consulting services by related parties settled by issuing promissory notes       44,600
Acquired in-process research and development       7,523,200
Amortization of imputed discount on non-interest bearing notes       45,000
Gain on sale of assets       16,800
Changes in operating assets and liabilities:      
Unbilled contract payments receivable 64,000 (205,000) 106,200
Prepaid expenses and other current assets 1,900 (630,900) 4,500
Security deposits and other assets (2,100) (4,500) 29,000
Accounts payable and accrued expenses 2,838,600 4,385,500 16,580,600
Deferred revenues. (65,600) (60,500) 13,200
Net cash used in operating activities (3,565,800) (841,300) (17,508,500)
Cash flows from investing activities:      
Purchases of equipment, net (32,400) (57,800) (680,800)
Net cash used in investing activities (32,400) (57,800) (680,800)
Cash flows from financing activities:      
Net proceeds from issuance of common stock and warrants, including units 2,679,200    2,800,000
Proceeds from exercise of warrants under Discounted Warrant Exercise Program 1,166,300   1,166,300
Net proceeds from issuance of preferred stock and warrants       4,198,600
Proceeds from issuance of notes under line of credit       200,000
Proceeds from issuance of 7% note payable to founding stockholder       90,000
Net proceeds from issuance of 7% convertible notes       575,000
Net proceeds from issuance of 10% convertible notes and warrants       1,655,000
Net proceeds from issuance of Platinum notes and warrants       3,700,000
Net proceeds from issuance of 2008/2010 notes and warrants    270,000 2,971,800
Net proceeds from issuance of 2006/2007 notes and warrants       1,025,000
Proceeds from issuance of 7% notes payable       55,000
Net proceeds from issuance of August 2010 short-term notes and warrants    800,000 800,000
Net proceeds from issuance of February 2012 12% convertible notes and warrants 466,500    466,500
Repayment of capital lease obligations (14,500) (27,000) (100,500)
Repayment of notes (757,600) (205,600) (1,332,400)
Net cash provided by financing activities 3,539,900 837,400 18,270,300
Net increase in cash and cash equivalents (58,300) (61,700) 81,000
Cash and cash equivalents at beginning of period 139,300 201,000   
Cash and cash equivalents at end of period 81,000 139,300 81,000
Cash paid for interest 265,400 147,400 439,700
Cash paid for income taxes 1,600 1,600 16,800
Supplemental disclosure of noncash activities:      
Forgiveness of accrued compensation and accrued interest payable to officers transferred to equity       800,000
Exercise of warrants and options in exchange for debt cancellation       112,800
Settlement of accrued and prepaid interest by issuance of Series C Preferred Stock       35,300
Conversion of 10% notes payable, net of discount, and related accrued interest into Series C Preferred stock       2,050,300
Issuance of Series B-1 Preferred stock for acquired in-process research and development       7,523,200
Conversion of 7% notes payable, net of discount, and related accrued interest into Series B Preferred stock       508,000
Conversion of accounts payable into convertible promissory notes       893,700
Conversion of accounts payable into note payable    1,126,200 2,810,300
Conversion of accounts payable into common stock 275,400    1,824,100
Conversion of accrued interest on convertible promissory notes into common stock       921,400
Notes receivable from sale of common stock to related parties upon exercise of options and warrants       149,800
Capital lease obligations 19,000    139,700
Recognition of put option and note term extension option liabilities upon issuance of Platinum Notes       141,200
Incremental fair value of put option and note term extension option liabilities from debt modifications    158,000 479,400
Incremental fair value of note conversion option from debt modification    1,062,800 1,891,200
Incremental fair value of warrant from debt modifications    121,100 276,700
Recognition of warrant liability upon adoption of new accounting standard       151,300
Fair value of warrants issued with August 2010 short term notes    130,900 130,900
Note Discount upon issuance of August 2010 short-term notes    320,000 320,000
Fair value of warrants issued with February 2012 12% convertible notes 542,000    542,000
Note Discount upon issuance of February 2012 12% convertible notes $ 495,200    $ 495,200