v2.4.0.6
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
 12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Cash flows from operating activities:    
Net loss $ (8,076,982) $ (6,979,498)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 48,572 22,908
Amortization of discount on convertible debt 1,993,650   
Amortization of deferred financing costs 2,149,491   
Warrants issued for services 132,707   
Share-based compensation 356,702 560,880
Interest accretion in related party note payable 15,781 91,219
Shares issued for consulting services 184,000 365,500
Change in fair value of warrants (5,452,436) 1,935,256
Accrued interest income - related party    (10,440)
Accrued registration penalty    156,000
Change in derivative liability (209,351)   
Loss on extinguishment of debt 2,950,513   
Accrued interest-related party (2,354) 33
Impairment of investments 150,000 522,100
Inventory write-down 347,720   
Changes in operating assets and liabilities:    
Accounts receivable (1,972,924) (72,003)
Advances on inventory purchases (304,702)   
Inventories (1,907,927) 45,081
Prepaid expenses and other current assets (115,693) 18,800
Accounts payable 100,754 266,392
Deferred revenue (54,902) (2,202)
Accrued expenses and other current liabilities 493,369 47,276
Net cash used in operating activities (9,174,012) (3,032,698)
Cash flows from investing activities:    
Investments    (582,100)
Deposit on asset acquisition (67,254)   
Certificate of deposit - non current (50,000)   
Reverse recapitalization transaction    (320,000)
Additions to property, plant and equipment (95,840) (85,955)
Net cash used in investing activities (213,094) (988,055)
Cash flows from financing activities:    
Proceeds from issuance of convertible debt 2,550,000   
Costs associated with convertible debt (342,586)   
Deferred offering costs    (63,500)
Proceeds of notes payable 89,514 27,293
Repayment of notes payable (70,491) (67,579)
Repayment of loans from related parties    (513)
Proceeds from private placement of common stock 13,670,000 4,475,000
Costs associated with private placement (1,861,647) (389,437)
Net cash provided by financing activities 14,034,790 3,981,264
Net increase in cash and cash equivalents 4,647,684 (39,489)
Cash and cash equivalents - beginning of period 35,502 74,991
Cash and cash equivalents - end of period 4,683,186 35,502
Supplemental disclosures of cash flow information    
Interest paid in cash 9,361 96,841
Taxes paid in cash      
Common shares issued towards settlement of notes payable 107,000 687,500
Common shares issued in payment of related party receivables    151,400
Shares issued on acquisition deposit 500,000   
Warrants issued with debt 811,447  
Cashless exercise of placement agent warrants 3,594,435   
Deferred offering costs 63,500   
Beneficial conversion feature on note payable 243,711   
Settlement of derivative liabilities 13,323   
Warrant liabilities 29,067,319 2,182,732
Common shares issued in conversion of notes payable $ 4,980,763