v2.4.0.6
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
 9 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:    
Net loss $ (10,201,446) $ (1,219,293)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of property, plant and equipment 36,101 13,817
Amortization of discount on convertible debt 1,993,650   
Amortization of deferred financing costs 2,149,491   
Warrants issued for services 135,207   
Share-based compensation 283,199 450,264
Interest accretion in related party note payable 15,781 34,585
Shares issued for consulting services 184,000 328,500
Change in fair value of warrants (411,421) (2,121,288)
Accrued interest income - related party    (10,440)
Accrued registration penalty    75,000
Change in derivative liability (209,351)   
Loss on extinguishment of debt 2,950,513   
Accrued interest-related party (1,070) 33
Changes in operating assets and liabilities:    
Accounts receivable (1,064,334) (61,183)
Deposits towards inventory purchases (2,134,298)   
Inventories, net (1,484,532) 7,151
Deferred production costs    (19,413)
Prepaid expenses and other current assets (348,227) (42,733)
Accounts payable 983,836 129,122
Deferred revenue (20,402) 13,550
Accrued expenses and other current liabilities 300,489 22,247
Net cash used in operating activities (6,842,815) (2,400,081)
Cash flows from investing activities:    
Investments    (582,100)
Deposit on asset acquisition (57,000)   
Reverse recapitalization transaction    (320,000)
Additions to property, plant and equipment (92,517) (77,907)
Net cash used in investing activities (149,517) (980,007)
Cash flows from financing activities:    
Proceeds from issuance of convertible debt 2,550,000   
Costs associated with convertible debt (342,586)   
Proceeds of notes payable 82,694 27,295
Repayment of notes payable (44,346) (58,721)
Loans from related parties    (513)
Proceeds from private placement of common stock 13,670,000 3,825,000
Costs associated with private placement (1,861,647) (349,437)
Net cash provided by financing activities 14,054,115 3,443,624
Net increase in cash and cash equivalents 7,061,783 63,536
Cash and cash equivalents - beginning of period 35,502 74,991
Cash and cash equivalents - end of period 7,097,285 138,527
Supplemental disclosures of cash flow information    
Interest paid in cash 9,507 93,884
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   2,182,732
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 27,647,425 2,182,732
Common shares issued in conversion of notes payable $ 4,980,763