(4) Union Capital Financing (Tables)

3 Months Ended

Jun. 30, 2013

Union Capital Financing [Abstract]

Schedule of components of allocation and the related fair values

			Allocation
	Fair Values		UCC			Management Buyers			Total
Proceeds:
Gross proceeds			$	4,265,000		$	735,000		$	5,000,000
Closing costs				(325,000	)		—			(325,000	)
Reimbursement of investor costs				(250,000	)					(250,000	)
Net proceeds			$	3,690,000		$	735,000		$	4,425,000
Allocation:
Series D Preferred Stock	$	2,670,578	$	1,127,574		$	233,098		$	1,360,672
Secured Notes	$	2,536,015		1,070,519			363,293			1,433,812
Compound Embedded Derivatives (CED):
Series D Preferred Stock	$	1,116,595		949,106			167,489			1,116,595
Secured Notes	$	28,049		23,842			4,207			28,049
Warrants	$	1,225,680		518,959			183,852			702,811
Compensation Expense				—			(216,939	)		(216,939	)
			$	3,690,000		$	735,000		$	4,425,000

Schedule of fair value assumptions derivative financial instrument\

		Market or Calculated Inputs
Assumption:	Level	June 30, 2013	March 31, 2013
Our trading market price	1	$1.30	$1.35
Our trading volatility:
Preferred CED	1	38.66%—69.72%	55.98%—88.87%
Preferred CED (effective volatility)	3	52.85%	67.38%
Warrant	1	—	—
Credit-risk adjusted yields:
Periods ranging from one to three years	2	6.50%—7.55%	6.64%—7.40%
Effective risk-adjusted yield	3	6.87%	6.96%
Terms (years):
Preferred CED (effective term)	3	.957	1.10

Schedule of fair value, assets and liabilities measured on recurring basis

 

	Fair Value Measurements as of March 31, 2013
	Total		Level 1		Level 2		Level 3
Instruments:
Warrants	$	4,664,894	$	—	$	—	$	4,664,894
Total Instruments	$	4,664,894	$	—	$	—	$	4,664,894

	Fair Value Measurements as of June 30, 2013
	Total		Level 1		Level 2		Level 3
Instruments:
Warrants	$	4,351,064	$	—	$	—	$	4,351,064
Total Instruments	$	4,351,064	$	—	$	—	$	4,351,064

Schedule of changes in level 3 instruments measured at fair value on a recurring basis

	Warrants
Balances at, March 31, 2012	$	3,005,319
Fair value adjustments		611,702
Balances at, June 30, 2012	$	3,617,021
Balances at, March 31, 2013	$	4,664,894
Fair value adjustments		(313,830	)
Balances at, June 30, 2013	$	4,351,064