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Capitalization
12 Months Ended
Mar. 31, 2012
Capitalization
7.   Capitalization

The Company’s Certificate of Incorporation provides for one class of common stock: Class A Common Stock, par value $.001, for which 100,000,000 shares are authorized for issuance.  The holder of each share of Class A Common Stock is entitled to one vote per share.

The Company’s Certificate of Incorporation also authorizes the issuance of 10,000,000 shares of Preferred Stock, of which 780,000 shares have been designated Class A Redeemable Convertible Preferred Stock with a  par value of $0.001 per share.

In prior Annual Reports on Form10-K and Quarterly Reports on Form10-Q, the Company showed 40,000 shares of Class A convertible preferred stock outstanding on the Balance Sheet at zero value. After a review of the historical conversion detail, it was determined that these 40,000 shares of Class A convertible preferred stock were in fact converted to Class A Common Stock and should not be shown as a separate line item in Shareholders’ Equity.  Beginning in the Company’s Quarterly Report on Form10-Q for the period ended June 30, 2011, this line was removed.