Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2015

Fair Value Measurements Tables

Fair value heirarchy for liabilities measured at fair value on a recurring basis

The fair value hierarchy for liabilities measured at fair value on a recurring basis is as follows:

			Fair Value Measurements at Reporting Date Using
	Total Carrying		Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Value		(Level 1)		(Level 2)		(Level 3)
March 31, 2015:
Warrant liability	$	3,008,500	$	-	$	-	$	3,008,500
March 31, 2014:
Warrant liability	$	2,973,900	$	-	$	-	$	2,973,900

Changes in Level 3 liabilities

The changes in Level 3 liabilities measured at fair value on a recurring basis are as follows:

	Fair Value Measurements Using Significant Unobservable Inputs
	(Level 3)
	Warrant Liability
Balance at March 31, 2013	$	6,394,000
Recognition of warrant liability upon issuance of Senior Secured Convertible
Promissory Note and warrant to Platinum on July 26, 2013		146,800
Mark to market gain included in net loss		(3,566,900	)
Balance at March 31, 2014		2,973,900
Mark to market loss included in net loss		34,600
Balance at March 31, 2015	$	3,008,500