XML 52 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2013
Mar. 31, 2012
ASSETS    
Cash and cash equivalents $ 89,800 $ 638,100
Unbilled contract payments receivable      
Prepaid expenses 134,900 33,700
Total current assets 224,700 671,800
Property and equipment, net 178,100 180,700
Security deposits and other assets 29,000 29,000
Total assets 431,800 881,500
Current liabilities:    
Accounts payable 1,758,600 1,353,700
Accrued expenses 371,300 342,900
Notes payable and accrued interest 695,300 617,100
Notes payable and accrued interest to related parties 100,400 93,000
Capital lease obligations 7,700 7,600
Total current liabilities. 2,933,300 2,414,300
Non-current liabilities:    
Senior secured convertible promissory notes, net of discount of $1,947,100 at June 30, 2013 and $1,963,100 at March 31, 2013 and accrued interest 1,527,300 1,425,700
Notes payable, net of discount of $1,075,200 at June 30, 2013 and $1,142,600 at March 31, 2013 2,192,400 2,091,800
Notes payable to related parties, net of discount of $136,500 at June 30, 2013 and $147,200 at March 31, 2013 and accrued interest 1,134,600 1,106,000
Warrant liability 4,589,100 6,394,000
Capital lease obligations 4,000 6,100
Total non-current liabilities 9,447,400 11,023,600
Total liabilities 12,380,700 13,437,900
Stockholders' deficit:    
Preferred stock, $0.001 par value; 10,000,000 shares, including 500,000 Series A shares, authorized at June 30, 2013 and March 31, 2013; 500,000 Series A shares issued and outstanding at June 30, 2013 and March 31, 2013, respectively 500 500
Common stock, $0.001 par value; 200,000,000 shares authorized at June 30, 2013 and March 31, 2013; 23,937,631 and 23,480,169 shares issued at June 30, 2013 and March 31, 2013, respectively 23,900 23,500
Additional paid-in capital 59,687,400 59,266,000
Treasury stock, at cost, 2,713,308 shares of common stock held at June 30, 2013 and March 31, 2013 (3,968,100) (3,968,100)
Notes receivable from sale of common stock (209,100) (209,100)
Deficit accumulated during development stage (67,483,500) (67,669,200)
Total stockholders' deficit (11,948,900) (12,556,400)
Total liabilities and stockholders' deficit $ 431,800 $ 881,500