v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 6 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income (loss) $ 2,185,047 $ (12,446,470)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 25,439 21,322
Accretion of discount on convertible debt 625,000 1,093,650
Amortization of deferred financing costs 152,000 1,261,121
Warrants issued for services (1,331) 95,292
Share based compensation 135,108 123,426
Interest accretion in related party note payable    15,781
Shares issued for consulting services 229,997 184,000
Change in fair value of warrants (5,429,786) 5,565,771
Change in derivative liability    (209,351)
Loss on extinguishment of debt    2,950,513
Changes in opertating assets and liabilities:    
Accounts receivable 1,318,387 (51,959)
Advances on inventory purchases (362,388) (766,182)
Inventories (1,519,638) (269,967)
Prepaid expenses and other current assets (341,277) (87,424)
Other non-current assets (2,185)   
Accounts payable 425,509 (153,508)
Deferred revenue (30,000) (46,152)
Accrued expenses and other current liabilities (191,160) 69,658
Net cash used in operating activities (2,781,278) (2,650,479)
Cash flows from investing activities:    
Deposit on asset acquisition    (40,000)
Increase in note receivable (500,000)   
Certificate of deposit - non current (298)   
Purchase of intangible assets (1,565,525)   
Additions to property, plant and equipment (3,627) (49,150)
Net cash used in investing activities (2,069,450) (89,150)
Cash flows from financing activities:    
Proceeds from issuance of convertible debt 1,275,000 2,550,000
Costs associated with convertible debt (157,175) (342,586)
Proceeds of notes payable 109,699 29,180
Repayment of notes payable (68,337) (9,714)
Deferred offering costs    (7,500)
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 1,159,187 3,196,980
Net increase (decrease) in cash and cash equivalents (3,691,541) 457,351
Cash and cash equivalents - beginning of period 4,683,186 35,502
Cash and cash equivalents - end of period 991,645 492,853
Supplemental disclosures of cash flow information    
Interest paid in cash 1,219 3,314
Taxes paid in cash      
Non Cash Investing and Financing Activities    
Common shares issued in payment of related party receivables 229,997  
Common shares issued towards asset acquisition 860,112 500,000
Warrants issued with debt 275,936 3,606,399
Cashless exercise of placement agent warrants    3,594,435
Deferred offering costs    63,500
Beneficial conversion feature on note payable 533,032 243,711
Settlement of derivative liabilities   13,323
Warrant issued for asset acquisition 241,880   
Liability recorded for asset acquisition 50,000   
Insurance premiums financed through notes payable $ 99,699 $ 38,875