v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 3 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net loss $ (10,745,978) $ (347,395)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 11,496 10,285
Amortization of discount on convertible debt    78,521
Amortization of deferred financing costs    39,168
Warrants issued for services 1,456   
Share based compensation 81,492 76,359
Interest accretion in related party note payable    15,781
Shares issued for consulting services 167,498 153,673
Change in fair value of warrants 9,328,651 (523,553)
Change in derivative liability    (147,674)
Changes in opertating assets and liabilities:    
Accounts receivable 1,330,557 (129,355)
Advances on inventory purchases (33,393)   
Inventories, net 27,599 (130,000)
Prepaid expenses and other current assets (11,442) (967)
Other non-current assets (2,185)   
Accounts payable (273,725) (162,393)
Deferred revenue (30,000) (88,652)
Accrued expenses and other current liabilities (133,120) 83,451
Other    3,487
Net cash used in operating activities (281,094) (1,069,264)
Cash flows from investing activities:    
Deposit on asset acquisition    (25,000)
Certificate of deposit - non current (190)   
Purchase of intangible assets (1,610,386)   
Additions to property, plant and equipment (3,627) (28,833)
Net cash used in investing activities (1,614,203) (53,833)
Cash flows from financing activities:    
Proceeds from issuance of convertible debt    750,000
Costs associated with convertible debt    (90,000)
Repayment of notes payable (33,518) (8,994)
Proceeds from private placements of common stock    1,170,000
Costs associated with private placement of common stock    (192,400)
Net cash provided by financing activities (33,518) 1,628,606
Net increase (decrease) in cash and cash equivalents (1,928,815) 505,509
Cash and cash equivalents - beginning of period 4,683,186 35,502
Cash and cash equivalents - end of period 2,754,371 541,011
Supplemental disclosures of cash flow information    
Interest paid in cash 710 3,210
Taxes paid in cash      
Non Cash Investing and Financing Activities    
Common shares issued in payment of related party receivables 167,498  
Common shares issued towards asset acquisition 257,500 500,000
Warrants issued with debt    527,326
Cashless exercise of placement agent warrants    2,350,604
Deferred offering costs    63,500
Warrant issued for asset acquisition 241,880  
Insurance premiums financed through notes payable $ 36,527