v2.4.0.6
CONSOLIDATED STATEMENT OF CASH FLOWS (USD $)
 6 Months Ended 12 Months Ended
Mar. 31, 2010
Sep. 30, 2011
Sep. 30, 2010
Mar. 31, 2011
Cash flows from operating activities:        
Net loss $ (917,825) $ (12,446,470) $ (239,821) $ (6,979,498)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation of property, plant and equipment 1,199 21,322 6,345 22,908
Amortization of discount on convertible debt 309,375 1,093,650      
Amortization of deferred financing costs 105,750 1,261,121      
Warrants issued for services   95,292     
Share-based compensation    123,426 369,753 560,880
Interest accretion in related party note payable    15,781 17,562 91,219
Shares issued for consulting services    184,000 65,000 365,500
Change in fair value of warrants    5,565,771 (1,843,175) 1,935,256
Customer discounts and provision for bad debts    (5,620)    92,584
Accrued interest income - related party (5,961)    (8,100) (10,440)
Accrued registration penalty       75,000 156,000
Change in derivative liability   (209,351)     
Loss on extinguishment of debt   2,950,513     
Accrued interest-related party 2,321    2,173 33
Write-down of investments        522,100
Changes in operating assets and liabilities:        
Accounts receivable (5,830) (46,339) (81,976) (164,587)
Deposits towards inventory purchases   (766,182)     
Inventories, net (46,188) (269,967) (3,496) 45,081
Deferred production costs      (110,247)  
Prepaid expenses and other current assets (65,170) (87,424) (47,250) 18,800
Accounts payable 66,441 (153,508) 77,460 266,392
Deferred revenue 86,450 (46,152) 110,737 (2,202)
Accrued expenses and other current liabilities 61,050 69,658 36,312 47,276
Net cash used in operating activities (408,388) (2,650,479) (1,573,723) (3,032,698)
Cash flows from investing activities:        
Investments (90,000)    (150,000) (582,100)
Deposit on asset acquisition   (40,000)     
Reverse recapitalization transaction       (320,000) (320,000)
Advance to related party (135,000)       
Additions to property, plant and equipment (30,884) (49,150) (48,961) (85,955)
Net cash used in investing activities (255,884) (89,150) (518,961) (988,055)
Cash flows from financing activities:        
Proceeds from issuance of convertible debt 687,500 2,550,000      
Costs associated with convertible debt (105,750) (342,586)      
Proceeds of notes payable 50,000 29,180 27,293 27,293
Repayment of notes payable    (9,714) (58,838) (67,579)
Deferred offering costs    (7,500) (20,000) (63,500)
Repayment of loans from related parties        (513)
Loans from related parties 107,513    (513)   
Proceeds from private placement of common stock    1,170,000 2,600,000 4,475,000
Costs associated with private placement    (192,400) (332,186) (389,437)
Net cash provided by financing activities 739,263 3,196,980 2,215,756 3,981,264
Net increase (decrease) in cash and cash equivalents 74,991 457,351 123,072 (39,489)
Cash and cash equivalents - beginning of period    35,502 74,991 74,991
Cash and cash equivalents - end of period 74,991 492,853 198,063 35,502
Supplemental disclosures of cash flow information        
Interest paid in cash    3,314 90,674 96,841
Taxes paid in cash            
Common shares issued towards settlement of notes payable       687,500 687,500
Common shares received in payment of related party receivable        151,400
Shares issued on acquisition deposit   500,000     
Warrants issued with convertible debt   3,606,399     
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       $ 2,182,732 $ 2,182,732