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Notes and Lines of Credit Payable (Tables)

9 Months Ended

Dec. 31, 2015

Notes Payable [Abstract]

Schedule of Notes and lines of credit payable

Notes and lines of credit payable consist of the following:

		December 31,			March 31,
		2015			2015
Term loan payable to NNA due March 28, 2019 (repaid in October 2015), net of debt discount of $- (December 31, 2015) and $1,060,401 (March 31, 2015)		$	-		$	5,467,098
Line of credit payable to NNA due March 28, 2019 (repaid in October 2015)			-			1,000,000
Unsecured revolving line of credit due to a financial institution due June 5, 2016			88,764			94,764
		$	88,764		$	6,561,862
Less: current			(88,764)			(327,141)
Noncurrent		$	-		$	6,234,721

Schedule of Interest Expense Associated with Notes Payable

Interest expense associated with the notes and lines of credit payable consisted of the following:

		Three Months Ended December 31,						Nine Months Ended December 31,
		2015			2014			2015			2014
Interest expense		$	18,136		$	156,450		$	316,915		$	444,448
Amortization of loan fees and discount			1,966			72,765			107,070			215,689
Out of period adjustment			-			-			(250,453)			-
		$	20,102		$	229,215		$	173,532		$	660,137

X

- Definition

Tabular disclosure of interest income and expense, including, but not limited to, interest income and expense from investments, loans, and securities.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

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