v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2012
Mar. 31, 2012
Current Assets:    
Cash and cash equivalents $ 2,754,371 $ 4,683,186
Accounts receivable, net 724,605 2,055,162
Advances on inventory purchases 338,095 304,702
Inventories 1,533,715 1,561,314
Prepaid expenses and other current assets 310,133 262,163
Total current assets 5,660,919 8,866,527
Certificate of deposit - non current 50,190 50,000
Property, plant and equipment, net 132,131 140,000
Intangible assets 2,839,216   
Deposit on asset acquisition    729,450
Other non-current assets 2,185   
Total Assets 8,684,641 9,785,977
Current Liabilities:    
Accounts payable 159,867 433,591
Deferred revenue 3,750 33,750
Accrued registration rights penalty 156,000 156,000
Accrued expenses and other current liabilities 428,575 601,695
Notes payable - current portion 31,746 28,737
Warrant liability 35,126,266 25,797,615
Total current liabilities 35,906,204 27,051,388
Other liabilities - non current 40,000   
Total liabilities 35,946,204 27,051,388
Commitments and contingencies      
Stockholders' equity (deficiency):    
Preferred stock, $.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2012 and March 31, 2012, respectively.      
Common stock, $.0001 par value; 750,000,00 shares authorized at June 30, 2012 and March 31, 2012, respectively, and; 32,370,784 and 31,970,784 issued and outstanding at June 30, 2012 and March 31, 2012, respectively. 3,237 3,197
Additional paid-in capital 749,786   
Accumulated deficit (28,014,586) (17,268,608)
Total stockholders' equity (deficiency) (27,261,563) (17,265,411)
Total liabilities and stockholders' equity (deficiency) $ 8,684,641 $ 9,785,977