v2.4.0.6

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Sep. 30, 2012

Summary of Significant Accounting Policies [Abstract]

Schedule of Property, Plant, and Equipment

		Estimated		September 30,				March 31,
Property, plant and equipment		Useful Lives		2012				2012
Computers and software		3 Years		$	67,751			$	64,724
Office equipment and furniture		5-7 Years			85,945				85,345
Leasehold improvements		1-3 Years			62,610				62,610
					216,306				212,679
Less: accumulated depreciation and amortization					(98,118		)		(72,679	)
				$	118,188			$	140,000

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

		Three Months Ended September 30,				Six Months Ended September 30,
		2012		2011		2012		2011
Stock options		1,055,000		1,250,000		1,055,000		1,250,000
Warrants		30,904,314		22,163,064		29,341,814		22,163,064
Convertible notes		-		1,242,188		-		1,242,188
Related party convertible note		-		133,750		-		133,750
		31,959,314		24,789,002		30,396,814		24,789,002

Schedule of Earnings (Loss) Per Share

Three Months Ended September 30,						Six Months Ended September 30,
	2012			2011			2012			2011
Net Income (loss)	$	12,931,025		$	(12,099,075)		$	2,185,047		$	(12,446,470	)
Weighted-average number of common shares outstanding		32,370,784			11,919,771			32,191,549			11,495,820
Incremental shares from the assumed Exercise of dilutive securities:
Stock options		-			-			-			-
Convertible Note		559,006			-			281,030			-
Dilutive warrants		1,943,789			-			2,019,340			-
		34,873,579			11,919,771			34,491,919			11,495,820
Net earnings (loss) per share:
Basic	$	0.40		$	(1.02	)	$	0.07		$	(1.08	)
Diluted:	$	0.37		$	(1.02	)	$	0.06		$	(1.08	)

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Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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