(5) Redeemable Preferred Stock

3 Months Ended

Jun. 30, 2011

Preferred Stock [Text Block]

(5)	Redeemable Preferred Stock
	Redeemable preferred stock consists of the following as of June 30, 2011 and March 31, 2011:

	June 30, 2011		March 31, 2011
Series D Convertible Participating Preferred Stock, par value $0.001, stated value $1.00, 2,500,000 shares designated, 2,500,000 shares issued and outstanding at June 30, 2011; redemption and liquidation value $3,038,094 at June 30, 2011	$	2,130,145	$	2,003,085

The Series D Preferred Stock is subject to accretion to its redemption value, through charges to equity, over the period from issuance to the contractual redemption date, discussed in the Financing Overview, above, using the effective interest method. The redemption value is determined based upon the stated redemption amount of $1.00 per share, plus an accretion amount, more fully discussed above. For the three months ended June 30, 2011 and 2010, accretion amounted to $127,060 and $123,227, respectively.