Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2015

Summary Of Significant Accounting Policies Tables

Computation of basic net income (loss) and diluted net loss attributable to common stockholders per share

Basic and diluted net loss attributable to common stockholders per share was computed as follows:

	Fiscal Years Ended March 31,
	2015			2014
Numerator:
Net loss attributable to common stockholders for basic earnings per share	$	(13,885,800	)	$	(2,967,700	)
less: change in fair value of warrant liability attributable to Exchange, Investment and Bridge Warrants issued to Platinum		(105,200	)		(1,219,500	)
Net loss for diluted earnings per share attributable to common stockholders	$	(13,991,000	)	$	(4,187,200	)
Denominator:
Weighted average basic common shares outstanding		1,318,797			1,098,742
Assumed conversion of dilutive securities:
Warrants to purchase common stock		-			474
Potentially dilutive common shares assumed converted		-			474
Denominator for diluted earnings per share - adjusted weighted average shares		1,318,797			1,099,216
Basic net loss attributable to common stockholders per common share	$	(10.53	)	$	(2.70	)
Diluted net loss attributable to common stockholders per common share	$	(10.61	)	$	(3.81	)

Schedule of antidilutive securities excluded from computation of earnings per share

Potentially dilutive securities excluded in determining diluted net loss per common share for the fiscal years ended March 31, 2015 and 2014 are as follows:

	Fiscal Years Ended March 31,
	2015		2014
Series A preferred stock issued and outstanding (1)		750,000		750,000
Warrant shares issuable to Platinum upon exercise of common stock warrants by Platinum
upon exchange of Series A Preferred under the terms of the October 11, 2012 Note
Exchange and Purchase Agreement		375,000		375,000
Outstanding options under the 2008 and 1999 Stock Incentive Plans		207,638		212,486
Outstanding warrants to purchase common stock		1,544,474		854,782
10% convertible Exchange Note and Investment Notes issued to Platinum in October 2012,
February 2013 and March 2013, including accrued interest through March 31, 2015
and 2014, respectively (2)		414,615		374,798
10% convertible note issued to Platinum on July 26, 2013, including accrued interest
through March 31, 2015 and 2014, respectively		29,620		26,776
10% convertible notes issued as a component of Unit Private Placements, including accrued interest through March 31, 2014
accrued interest through March 31, 2015 and 2014, respectively (3)		433,758		109,341
Total		3,755,105		2,703,183

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(1)  Assumes exchange under the terms of the October 11, 2012  Note Exchange and Purchase Agreement with Platinum

(2)  Assumes conversion under the terms of the October 11, 2012  Note Exchange and Purchase Agreement with Platinum and the terms of the individual notes

(3) Excludes effect of conversion premium upon conversion into securities which may be issued in a Qualified Financing, as defined in the notes