v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2011
Mar. 31, 2011
Mar. 31, 2010
Current Assets:      
Cash and cash equivalents $ 492,853 $ 35,502 $ 74,991
Accounts receivable, net 134,198 82,238 5,830
Advances on inventory purchases 766,182     
Due from related party     140,961
Inventories 271,074 1,107 46,188
Deferred offering costs 7,500 63,500   
Debt issuance costs, net 888,370     
Prepaid expenses and other current assets 133,794 46,370 65,170
Total current assets 2,693,971 228,717 333,140
Investments, at cost 150,000 150,000 90,000
Property, plant and equipment, net 120,561 92,732 29,685
Deposit on asset acquisition 540,000     
Total Assets 3,504,532 471,449 452,825
Current Liabilities:      
Accounts payable 179,325 332,833 66,441
Notes payable officer 107,000 91,219 107,513
Deferred revenue 42,500 88,652 86,450
Accrued interest related parties 2,354 2,354 2,321
Accrued registration rights penalty 156,000 156,000   
Accrued expenses and other current liabilities 177,984 108,326 61,050
Notes Payable - Current Portion 4,073,345 9,714 737,500
Warrant liability 9,168,397 4,117,988   
Total current liabilities 13,906,905 4,907,086 1,061,275
Stockholders' equity (deficit):      
Preferred stock, $.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding at September 30, 2011 and March 31, 2011 and 2010, respectively.         
Common stock, $.0001 par value; 750,000,000 authorized at September 30, 2011 and 400,000,000 shares authorized at March 31, 2011 and 2010, respectively, and; 12,069,526, 10,886,374 and 7,909,375 issued and outstanding at September 30, 2011, March 31, 2011 and March 31, 2010, respectively. 24,139 21,773 15,819
Additional paid-in capital 9,917,281 3,439,913 293,556
Accumulated deficit (20,343,793) (7,897,323) (917,825)
Total stockholders' equity (deficit) (10,402,373) (4,435,637) (608,450)
Total liabilities and stockholders' deficit $ 3,504,532 $ 471,449 $ 452,825