<SEC-DOCUMENT>0001144204-12-037402.txt : 20120629
<SEC-HEADER>0001144204-12-037402.hdr.sgml : 20120629
<ACCEPTANCE-DATETIME>20120629165509
ACCESSION NUMBER:		0001144204-12-037402
CONFORMED SUBMISSION TYPE:	10-K
PUBLIC DOCUMENT COUNT:		23
CONFORMED PERIOD OF REPORT:	20120331
FILED AS OF DATE:		20120629
DATE AS OF CHANGE:		20120629

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mandalay Digital Group, Inc.
		CENTRAL INDEX KEY:			0000317788
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				222267658
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		10-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10039
		FILM NUMBER:		12936583

	BUSINESS ADDRESS:	
		STREET 1:		4751 WILSHIRE BOULEVARD
		STREET 2:		THIRD FLOOR
		CITY:			LOS ANGELES,
		STATE:			CA
		ZIP:			90010
		BUSINESS PHONE:		(310) 601-2500

	MAIL ADDRESS:	
		STREET 1:		4751 WILSHIRE BOULEVARD
		STREET 2:		THIRD FLOOR
		CITY:			LOS ANGELES,
		STATE:			CA
		ZIP:			90010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NeuMedia, Inc.
		DATE OF NAME CHANGE:	20100514

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Mandalay Media, Inc.
		DATE OF NAME CHANGE:	20071109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Mediavest, Inc.
		DATE OF NAME CHANGE:	20050809
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-K
<SEQUENCE>1
<FILENAME>v316695_10k.htm
<DESCRIPTION>FORM 10-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 10-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(Mark One)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 92%; font-size: 10pt"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE</B>&nbsp;<B>SECURITIES EXCHANGE ACT OF 1934</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the fiscal year ended March 31, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 92%; font-size: 10pt"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE</B> &nbsp; <B>SECURITIES EXCHANGE ACT OF 1934</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number 00-10039</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MANDALAY DIGITAL GROUP, INC.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border-bottom: windowtext 1pt solid; text-align: center">Delaware</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: windowtext 1pt solid; text-align: center">22-2267658</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or Other Jurisdiction of</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(I.R.S. Employer Identification No.)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Incorporation or Organization)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border-bottom: windowtext 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">4751 Wilshire Boulevard, Third Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Los Angeles, CA</P></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: windowtext 1pt solid; text-align: center">90010</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>(310) 601-2500</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Issuer&rsquo;s Telephone Number, Including
Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities registered pursuant to Section&nbsp;12(b)
of the Act: None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Securities registered under Section 12(g)
of the Exchange Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Common Stock, Par Value $0.0001 Per Share</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Title of Class)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act.&nbsp;Yes </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
No </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange
Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yes </FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
No </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive
Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&sect; 232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes </FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
No <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if disclosure of delinquent filers in response to Item 405 of Regulation S-K (&sect; 229.405) is not contained herein,
and will not be contained, to the best of Registrant&rsquo;s knowledge, in definitive proxy or information statements incorporated
by reference in Part III of this Form 10-K or any amendment to this Form 10-K. </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of
a &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2
of the Exchange Act.&nbsp;&nbsp;&nbsp;(Check One)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> Large Accelerated Filer</FONT></TD>
    <TD STYLE="width: 35%; text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> Accelerated Filer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> Non-accelerated Filer (do not check if smaller reporting company)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> Smaller Reporting Company</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the Registrant is a shell company (as defined in Rule&nbsp;12b-2 of the Exchange Act).&nbsp;&nbsp;&nbsp;&nbsp;Yes
</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"> No </FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The aggregate market value of the voting
and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold
on the OTC Bulletin Board on September 30, 2011 was $16,271,626.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant has filed all documents and reports required to be filed by Section&nbsp;12, 13 or 15(d) of
the Exchange Act subsequent to the distribution of securities under a plan confirmed by a court. Yes </FONT><FONT STYLE="font-family: Wingdings">x</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">
No </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 15, 2012, the Company had&nbsp;83,791,232
shares of its common stock, $0.0001 par value per share, outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DOCUMENTS INCORPORATED BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>None.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Mandalay Digital Group, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ANNUAL REPORT ON FORM 10-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FOR THE PERIOD ENDED MARCH 31, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="width: 14%; font-weight: bold; text-decoration: underline">PART I</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 75%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 7%; text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 1.</TD>
    <TD>&nbsp;</TD>
    <TD>BUSINESS</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">3</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 1A.</TD>
    <TD>&nbsp;</TD>
    <TD>RISK FACTORS</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">9</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 2.</TD>
    <TD>&nbsp;</TD>
    <TD>PROPERTIES</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">30</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 3.</TD>
    <TD>&nbsp;</TD>
    <TD>LEGAL PROCEEDINGS</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">31</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 4.</TD>
    <TD>&nbsp;</TD>
    <TD>MINE SAFETY DISCLOSURE</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">31</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: underline">PART II</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 5.</TD>
    <TD>&nbsp;</TD>
    <TD>MARKET FOR REGISTRANT&rsquo;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">32</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 6.</TD>
    <TD>&nbsp;</TD>
    <TD>SELECTED FINANCIAL DATA</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">42</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 7.</TD>
    <TD>&nbsp;</TD>
    <TD>MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">42</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 7A.</TD>
    <TD>&nbsp;</TD>
    <TD>QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">64</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 8.</TD>
    <TD>&nbsp;</TD>
    <TD>FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">64</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 9.</TD>
    <TD>&nbsp;</TD>
    <TD>CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">65</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 9A(T).</TD>
    <TD>&nbsp;</TD>
    <TD>CONTROLS AND PROCEDURES</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">65</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 9B.</TD>
    <TD>&nbsp;</TD>
    <TD>OTHER INFORMATION</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">67</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: underline">PART III</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 10.</TD>
    <TD>&nbsp;</TD>
    <TD>DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">68</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 11.</TD>
    <TD>&nbsp;</TD>
    <TD>EXECUTIVE COMPENSATION</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">70</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 12.</TD>
    <TD>&nbsp;</TD>
    <TD>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">77</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 13.</TD>
    <TD>&nbsp;</TD>
    <TD>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">79</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 14.</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PRINCIPAL ACCOUNTANT FEES AND SERVICES</P></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">82</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>PART IV</U></B></P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>ITEM 15.</TD>
    <TD>&nbsp;</TD>
    <TD>EXHIBITS AND FINANCIAL STATEMENT SCHEDULES</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">83</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>SIGNATURES</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>PART I</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Information included
in this Annual Report on Form 10-K (the &ldquo;Form 10-K&rdquo;) contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), and Section 21E of the Securities Exchange Act
of 1934, as amended (the &ldquo;Exchange Act&rdquo;). We claim the protection of the safe harbor contained in the Private Securities
Litigation Reform Act of 1995. All statements, other than statements of historical facts included in this Form 10-K regarding our
strategy, future operations, future financial position, projected expenses, prospects and plans and objectives of management are
forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements to be materially different from our future results, performance or achievements expressed
or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans,
strategies and expectations, are generally identifiable by use of the words &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo;
&ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend,&rdquo; &ldquo;future,&rdquo;
&ldquo;plan,&rdquo; or &ldquo;project&rdquo; or the negative of these words or other variations on these words or comparable terminology.
Forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections or
other expectations included in any forward-looking statements will come to pass. Our actual results could differ materially from
those expressed or implied by the forward-looking statements as a result of various factors, including, but not limited to, a continued
decline in general economic conditions nationally and internationally; decreased demand for our products and services; market acceptance
of our products; the ability to protect our intellectual property rights; impact of any litigation or infringement actions brought
against us; competition from other providers and products; risks in product development; inability to raise capital to fund continuing
operations; changes in government regulation; the ability to complete customer transactions and capital raising transactions, and
other factors, including the risk factors described in greater detail in Item 1A of this Form 10-K under the heading &ldquo;Risk
Factors.&rdquo; Should one or more of these risks or uncertainties materialize, or should the underlying assumptions prove incorrect,
actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned. Except as required
by applicable laws, we undertake no obligation to update publicly any forward-looking statements for any reason, even if new information
becomes available or other events occur in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>ITEM 1.</B></TD><TD STYLE="text-align: justify"><B>BUSINESS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>History of Mandalay Digital Group, Inc.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Mandalay
Digital Group, Inc. (&quot;Mandalay&quot; or the &quot;Company&quot;</FONT> <FONT STYLE="font-size: 10pt">or, in the first person
as &ldquo;we&rdquo; &ldquo;us&rdquo; and &ldquo;our&rdquo;), was originally incorporated in the State of Delaware on November 6,
1998 under the name eB2B Commerce, Inc. On April 27, 2000, the Company merged into DynamicWeb Enterprises Inc., a New Jersey corporation,
and changed its name to eB2B Commerce, Inc. On April 13, 2005, the Company changed its name to Mediavest, Inc. On November 7, 2007,
through a merger,&nbsp;the Company&nbsp;reincorporated in the State of Delaware under the name Mandalay Media, Inc.&nbsp;&nbsp;
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 11, 2010, Mandalay
Media, Inc. merged into its wholly-owned, newly formed subsidiary, NeuMedia Inc., with NeuMedia as the surviving corporation. NeuMedia
issued: (1) one new share of common stock in exchange for each share of outstanding common stock of Mandalay Media, Inc. and (2)
one new share of preferred stock in exchange for each share outstanding preferred stock of Mandalay Media, Inc. as of May 11, 2010.
The preferred and common stock of NeuMedia had the same status and par value as the respective stock of Mandalay Media, Inc. and
NeuMedia acceded to all the rights, acquired all the assets and assumed all of the liabilities of Mandalay Media, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 27, 2004,
and as amended on December 17, 2004, NeuMedia filed a plan for reorganization under Chapter 11 of the United States Bankruptcy
Code in the United States Bankruptcy Court for the Southern District of New York (the &ldquo;Plan of Reorganization&rdquo;). Under
the Plan of Reorganization, as completed on January 26, 2005: (1) NeuMedia&rsquo;s net operating assets and liabilities were transferred
to the holders of its secured notes in satisfaction of the principal and accrued interest thereon; (2) $400,000 was transferred
to a liquidation trust and used to pay administrative costs and certain preferred creditors; (3) $100,000 was retained by NeuMedia
to fund the expenses of remaining public; (4) 3.5% of the new common stock of NeuMedia (140,000 shares) was issued to the holders
of record of NeuMedia&rsquo;s preferred stock in settlement of their liquidation preferences; (5) 3.5% of the new common stock
of NeuMedia (140,000 shares) was issued to common stockholders of record as of January 26, 2005 in exchange for all of the outstanding
shares of the common stock of the company; and (6) 93% of the new common stock of NeuMedia (3,720,000 shares) was issued to the
sponsor of the Plan of Reorganization in exchange for $500,000 in cash. Through January 26, 2005, NeuMedia and its subsidiaries
were engaged in providing business-to-business transaction management services designed to simplify trading between buyers and
suppliers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to February 12,
2008, NeuMedia was a public shell company with no operations, and controlled by its significant stockholder, Trinad Capital Master
Fund, L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From February 12, 2008
to October 23, 2008, our sole operations were those of our wholly-owned subsidiary, Twistbox. In October 2008, we acquired AMV
Holding Limited and its subsidiaries, a mobile media and marketing company. On June 21, 2010, we sold AMV Holding Limited and its
subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Current Operations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mandalay is at the
convergence of Internet media content and mobile communications. We are an established provider of mobile services enabling mobile
content distribution and transactions serving Mobile Operators, End Consumers, and Original Equipment Manufactures (OEM&rsquo;s)
of mobile devices and tablets. Our software as a service (&quot;SaaS&quot;) based platform delivers a mobile services platform
that works with mobile operators and third-party publishers to provide portal management, user interface, content development and
billing technology that enables the ecosystem required for the global distribution of mobile content. Our platforms enable our
customers to implement an intuitive user experience and storefront, enabling the discovery, purchase and download of mobile content.
Our integrated solutions address the mobile ecosystem spanning mobile optimized websites, mobile applications, mobile merchandising
and content management, mobile messaging, mobile advertising, mobile billing and predictive analytics. Our solutions allow our
customers to drive loyalty, generate revenue and reengineer business processes to capture the advantages of their mobile-enabled
customer base. Our predictive analytics capabilities allow our customers to recommend the right solution to their end-customer
based upon the consumers&rsquo; tastes and preferences. We are headquartered in Los Angeles and have offices in Europe to support
global sales and marketing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Key Operating Divisions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt"><B><U>Digital Turbine</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 28, 2011,
the Company acquired the assets of Digital Turbine Group, LLC, the developer of Digital Turbine (&ldquo;DT&rdquo;), a technology
platform that allows media companies, mobile carriers, and their OEM handset partners to take advantage of multiple mobile operating
systems across multiple networks, and offers solutions that allow them to maintain their own branding and personalized, one-to-one
relationships with each end-user. DT&rsquo;s cross-platform user interface and multimedia management system for carriers and OEMs
can be integrated with different operating systems to provide a more organized and unified experience for end-users of mobile content
across search, discovery, billing, and delivery. Other aspects of the platform, such as a smart content discovery toolbar, allows
carriers and OEMs to control the data presented to their users while giving the end-user a more efficient way of finding and purchasing
the desired content.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">With the acquisition
and integration of the assets of Digital Turbine, the Company will be able to provide an end-to-end, modular platform to the Company&rsquo;s
existing carrier customers. The combined Digital Turbine offering allows new and existing customers to choose from a fully outsourced,
smart mobile ecosystem to more efficient, modular components that can be integrated with different operating systems to provide
a more unified experience for end-users of mobile content across search, discovery, billing, and delivery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based upon the initial
launch data, the Company believes there is an opportunity to integrate its DT platform with new and existing mobile carriers. Mobile
carriers are facing increased competition from competing mobile application storefronts and improved user experiences from other
retailing, social networking, and operating system providers including Apple, Google, Amazon, and Facebook. As a result, operators
are looking for new, innovative solutions for how they better manage their existing user experience. The DT platform can be &ldquo;white-labeled&rdquo;
to allow operators to custom tailor their own unique branding experience to the customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to improved
user experiences, many operators are looking for end-to-end solutions for their mobile storefronts that include procuring and programming
the content, managing the content experience, ingesting content into the content management system (CMS), securely installing and
de-installing applications from the device, and integrating with the back-end elements such as billing interfaces, analytics, settlement,
and reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.5pt"><B><I>Twistbox Entertainment, Inc.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox Entertainment,
Inc. (&ldquo;Twistbox&rdquo;) is a global publisher, developer and enabler of mobile content and data services across mobile networks.
Twistbox provides its services in over 14 countries supporting over 50 carriers. Since operations began in 2003, Twistbox has developed
an intellectual property portfolio that includes a proprietary mobile publishing platform covering: tools that automate device
management; distribution and billing technology; a mobile games development, distribution and retail platform; and a content ratings
system adopted by wireless carriers globally to assist with the deployment of age-verified content. Twistbox has leveraged its
intellectual property and carrier-class platforms to secure agreements with leading mobile operators throughout the world including,
among others, Vodafone, Telefonica, Orange, and Hutchison&rsquo;s 3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are considering
the future status and role of Twistbox in relation to our focus on the DT platform. Although it is our only active business, Twistbox
revenues have been declining, which we expect to continue for the foreseeable future. At the same time, we intend to seek to leverage
its existing customer base for offerings by DT. While we believe the offering of DT&rsquo;s platform to Twistbox customers is an
attractive strategy, it entails significant risks, some of which are described in &ldquo;Risk Factors&rdquo;, and include the possibility
that Twistbox may operate at a deficit while we need to make investments to effectively launch DT, which, in turn, entails business
and financial risks and the possibility of needing additional capital and the associate dilution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s target
customers are the highly-mobile, digitally-aware 18 to 40 year old demographic. This group is a leading consumer of new mobile
handsets and represents more than 50% of mobile content consumption revenue globally. In addition, this group is very focused on
consumer lifestyle brands and is much sought after by advertisers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 12, 2008,
the Company completed its acquisition of Twistbox Entertainment, Inc. pursuant to an Agreement and Plan of Merger entered into
on December 31, 2007, as subsequently amended by the Amendment to Agreement and Plan of Merger dated February 12, 2008, with Twistbox
Acquisition, Inc., a Delaware corporation and a wholly-owned subsidiary of NeuMedia (&ldquo;Merger Sub&rdquo;), Twistbox Entertainment,
Inc. (&ldquo;Twistbox&rdquo;), and Adi McAbian and Spark Capital, L.P., as representatives of the stockholders of Twistbox, as
part of which Merger Sub merged with and into Twistbox, with Twistbox as the surviving corporation (the &ldquo;Merger&rdquo;).
Following the Merger, Twistbox became the sole operating subsidiary of NeuMedia until the acquisition of AMV Holding Limited, a
United Kingdom private limited company (&ldquo;AMV&rdquo;) on October 23, 2008 as described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Revenue </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s
revenue model includes pay-per-download and a growing base of recurring subscription services. Video services include daily,
weekly and monthly subscriptions to access a specific mobile site or suite of mobile TV channels. Twistbox also earns revenue
for platform and portal management, carrier development projects, and by licensing its platform to mobile operators and other
3rd party vendors. Since the year ended March 31, 2010 the total revenue earned by Twistbox has materially declined due in
part to overall market conditions and the general shift in end-user discovery of content services. These trends are likely to
continue as more and more users begin to use their mobile devices to search for content. The Company&rsquo;s strategy is to
work with mobile carriers to try to recapture and grow market share by offering its DT platform to new and existing
customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox leverages
its distribution channels within carrier portals to generate revenue from subscriptions on mobile sites that Twistbox manages on
an exclusive and non-exclusive basis. Twistbox bills and receives payment directly through mobile carriers and billing aggregators
which form the majority of its revenue. Billings from mobile operators or billing aggregators comprise more than 50% of its collections.
Twistbox&rsquo;s cost of revenues represents license fees paid to content providers, which currently averages approximately 12%
of revenues. Other costs of revenues include customer service fees, and traffic and streaming fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Value Added Services
for Mobile Content and Game Development</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox is focusing
its development activities on value-added services such as in-application billing technology that enables carriers and billing
aggregators to offer solutions such as try-before-you-buy, rentals, and virtual goods. Twistbox has agreements in place with some
of the world&rsquo;s largest mobile network operators and billing aggregators to offer its In-Application Billing solution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox also develops
games and applications that work with a number of languages, platforms, and formats. It has been actively involved in a number
of technical initiatives aimed at enhancing its titles with value-added features, such as multi-player functionality, 3D graphics,
and location-based features. Twistbox continues to develop new applications to assure that it has a steady supply of new content
and services to offer its customers. Twistbox believes it is an industry trend that the overall market for mobile entertainment
should continue to increase as new storefronts proliferate and mobile operators continue to roll out their next-generation service
offerings and advanced handsets offering improvements in billing, data handling capability, graphics resolution and other features.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Carrier-Class Publishing
Platform</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Renux&trade; is Twistbox&rsquo;s
carrier-class content management and publishing platform developed for the deployment, billing and marketing of mobile content
and applications. The system has been in operation for over five years and today supports over 350 mobile sites, and more than
66 mobile TV channels. The Renux&trade; content management system stores image and video content formatted for a wide range of
mobile devices, and incorporates a comprehensive metadata format that categorizes the content for handset recognition, programming,
marketing and reporting. Twistbox maintains content hosting facilities in Los Angeles, Washington, D.C. and Frankfurt that support
the distribution of content across mobile operator networks globally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>RapidPort</U>&trade;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">RapidPort&trade; is
Twistbox&rsquo;s software suite that enables the development and porting of mobile games and applications to over 1,500 different
handsets from leading manufacturers including Apple, Nokia, Motorola, Samsung and Sony Ericsson. Twistbox has created an automated
handset abstraction tool that significantly reduces the time required to &ldquo;port&rdquo; a game across a significant number
of these handsets. The RapidPort&trade; development platform supports a broad number of wireless device formats including iOS,
Android, J2ME, BREW, DoJa and Symbian, and provides localization in over 18 languages. Twistbox has enhanced RapidPort&trade; to
include new technology designed to enhance titles with value-added features, such as in-application billing, multi-player and play-for-prizes
functionality, 3D graphics and location-based services (LBS).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;<U>Nitro-CDP</U>&trade;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nitro-CDP&trade; is
a content download and delivery platform for mobile network operators, portals and content publishers. The Nitro-CDP&trade; platform
allows for real-time content upload, editing, rating and deployment, and merchandising, while maintaining carrier-grade security,
reliability and scalability. The platform enables mobile network operators to effectively manage millions of mobile download transactions
across multiple channels and categories. Nitro-CDP&trade; also provides innovative cross-promotional tools, including purchase
history-based up-sales and advertising, an individual &ldquo;My Downloads&rdquo; area for each consumer and peer-to-peer recommendations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>CMX Wrapper</U>&trade;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The CMX Wrapper&trade;
enables mobile operators to integrate additional and complimentary functionality into existing mobile games and applications without
the need to alter the original code or involve the original developer. This value-added functionality includes support for in-game
promotions and billing, and &ldquo;try before you buy&rdquo; and &ldquo;refer a friend&rdquo; functionality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Play-for-Prizes
- Competition Goes Mobile</U> &reg;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Twistbox Games
for-prizes network offers several genres of games in which players compete in daily and weekly skill-based multiplayer tournaments
to win prizes. Subscribers can compete in both daily head-to-head and weekly progressive tournaments. The Twistbox Games Play-for-Prizes
platform enables unique in-game promotions through carrier-specific campaigns in cooperation with sponsors and advertisers.&nbsp;&nbsp;On
July 25, 2008, Twistbox filed with the United States Patent and Trademark Office a patent application for the Improvements In Skill-Based
Electronic Gaming Tournament Play having Serial Number 12/180,405.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Distribution</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox distributes
its programming and services through on-deck relationships with mobile carriers, off-deck relationships with third-party aggregators,
and through affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s on-deck
services include the programming and provisioning of games and games aggregation, images, videos and mobile TV content and portal
management. Twistbox currently has on-deck agreements with more than 50 mobile operators including Vodafone, SFR, T-Mobile, Orange,
and Telefonica in over 14 countries. Through these on-deck agreements, Twistbox relies on the carriers for both marketing and billing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox off-deck services
include the programming and distribution of images, videos, chat services and mobile marketing campaigns. Twistbox manages the
campaigns directly and maintains billing and connectivity agreements with leading service providers in each territory. In addition,
Twistbox maintains an affiliate program that allows for the sales and tracking of Twistbox mobile content by 3rd party publishers,
partners and their affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox has established
an affiliate program to market and sell its content off-deck. We believe that this channel offers an attractive secondary channel
for consumers wishing to peruse and purchase content in an environment that is more niche focused than some operators&rsquo; &ldquo;walled
gardens.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Mobile Operators
(Carriers)</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox currently
has a large number of distribution agreements with mobile operators and portals in Europe, North America, and Latin America. Twistbox
currently has distribution agreements with more than 50 single territory operators in 14 countries. The strength and coverage of
these relationships is of paramount importance and the ability to support and service them is a vital channel for Twistbox&rsquo;s
new product offerings and services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>Trademarks, Trade
names, Patent and Copyrights</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox has used,
registered and applied to register certain trademarks and service marks to distinguish its products, technologies and services
from those of its competitors in the United&nbsp;States and in foreign countries. Twistbox also has a copyright known as the &ldquo;WAAT
Media Wireless Content Standards Ratings Matrix&copy;&rdquo;, which has been filed with the Library of Congress&rsquo;s Copyright
Office. On July 25, 2008, Twistbox filed with the United States Patent and Trademark Office a patent application for the Improvements
In Skill-Based Electronic Gaming Tournament Play having Serial Number 12/180,405. We believe that these trademarks, trade names,
patent and copyrights are important to its business. The loss of some of Twistbox&rsquo;s intellectual property might have a negative
impact on its financial results and operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><U>AMV Holding Limited</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 23, 2008,
the Company consummated the acquisition of 100% of the issued and outstanding share capital of AMV Holding Limited, a United Kingdom
private limited company (&ldquo;AMV&rdquo;) and 80% of the issued and outstanding share capital of Fierce Media Limited, United
Kingdom private limited company (collectively the &ldquo;Shares&rdquo;).&nbsp;&nbsp;The acquisition of AMV is referred to herein
as the &ldquo;AMV Acquisition&rdquo;. The aggregate purchase price (subject to adjustments as provided in the stock purchase agreement)
for the Shares consisted of (i) $5,375,000 in cash; (ii) 4,500,000 shares of common stock, par value $0.0001 per share; (iii) a
secured promissory note in the aggregate principal amount of $5,375,000 (the &ldquo;AMV Note&rdquo;); and (iv) additional earn-out
amounts, if any, based on certain targeted earnings as set forth in the stock purchase agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 21, 2010, the
Company signed and closed an agreement whereby ValueAct and the AMV founders, acting through a newly formed company, acquired all
of the AMV operating subsidiaries (the &ldquo;Assets&rdquo;) in exchange for the release of $23.2 million of secured indebtedness,
comprising of a release of all amounts due and payable under the AMV Note and all of the amounts due and payable under the ValueAct
Note (as defined below) except for $3.5 million in principal. The Company retained all assets and liabilities of Twistbox and the
Company other than the AMV operating subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Future Plans</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of both
the needs of the operator and the need for the Company to scale its distribution, the Company is pursuing targeted acquisitions
that will accelerate growth. On May 1, 2012, the Company announced a letter of intent to acquire Logia Mobile (&ldquo;Logia&rdquo;).
Logia Mobile is an Israel-based developer of applications and provider of content. It has relationships with over 500 applications
developers and content vendors, and currently operates in more than 20 countries providing services including in-app billing to
more than 50 leading mobile carriers including: Cellcom, Vodafone, Verizon, Telefonica, Turkcell, Deutsche Telekom among others
reaching over 1.5 billion mobile subscribers. In addition, Logia has existing partnerships with industry suppliers including Amdocs,
Ericsson, and Alcatel-Lucent.&nbsp; Mandalay plans on leveraging Logia&rsquo;s distribution channels and complimentary technology
to add to the Digital Turbine user experience by leveraging devices that are powered by Logia&rsquo;s platform and CMS. The Company
believes that certain of the assets of Twistbox could be utilized in assets potentially acquired from the transaction. Logia has
no legal obligation to enter or consummate any transaction with us. Our letter of intent is non-binding and each side has the right
to terminate discussions at any time. There is no assurance we will consummate any transaction with Logia. The Logia transaction
would, if consummated, also present certain risks, as described below in &ldquo;Risk Factors&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Competition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox is an established
enabler of content management services designed for the complex needs and requirements of mobile carriers. The industry trend has
been for carriers to focus on fewer partners and outsource their content retailing and infrastructure requirements. We believe
that Twistbox&rsquo;s reputation and existing integration with carriers globally enhances the Company&rsquo;s overall position
allowing it to continue to manage, evolve and offer new services for operators globally, principally the offering of the DT platform
to Twistbox customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox competes with
a number of other companies in the mobile content services industry, including Mondia Media, Net-M, Jesta, Buongiorno (recently
acquired by NTT DoCoMo), Mobile Streams, and ZED Group. To the extent that such firms continue to focus on enabling services, they
will compete directly with Twistbox. While Twistbox competes with many of the leading publishers, its core business is enabling
services and platforms for operators and publishers to enhance revenues. In turn, through the management of an operator&rsquo;s
download platform, providing a cross carrier Play4Prizes infrastructure or facilitating in-application billing, Twistbox has become
a strategic value added partner to both the mobile operator and publishing communities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our direct-to-consumer
(D2C) products may have an adverse impact on Twistbox&rsquo;s business, as these are products that require the acquisition of mobile
traffic from 3rd party publishers that may not price their traffic at rates favorable to scale the business in certain countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the
principal competitive factors in the market for mobile content and services include carrier relationships, access to compelling
content, quality and reliability of content delivery, availability of talented content developers and skilled technical personnel,
and financial stability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B><I>Employees</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of March 31, 2012,
the Company, including its subsidiaries, had 33 employees, 30 of whom were full-time and 3 of whom were part-time. We consider
our relationships with our employees to be satisfactory. None of our employees is covered by a collective bargaining agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>ITEM 1A.</B></TD><TD STYLE="text-align: justify"><B>RISK
                                                                                         FACTORS</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless the context
otherwise indicates, the use of the terms &ldquo;we,&rdquo; &ldquo;our&rdquo; &ldquo;us&rdquo; or the &ldquo;Company&rdquo; refer
to the business and operations of Mandalay Digital Group, Inc. (&ldquo;Mandalay&rdquo;) through its operating and wholly-owned
subsidiary Twistbox Entertainment, Inc. (&ldquo;Twistbox&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investing in our common
stock involves a high degree of risk. Current investors and potential investors should consider carefully the risks and uncertainties
described below together with all other information contained in this Form 10-K before making investment decisions with respect
to our common stock. If any of the following risks actually occurs, our business, financial condition, results of operations and
our future growth prospects would be materially and adversely affected. Under these circumstances, the trading price and value
of our common stock could decline, resulting in a loss of all or part of your investment. The risks and uncertainties described
in this Form 10-K are not the only ones facing us. Additional risks and uncertainties of which we are not presently aware, or that
we currently consider immaterial, may also affect our business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Related to Our Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The Company has a history of net
losses, may incur substantial net losses in the future, and may not achieve profitability.&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect to continue
to increase expenses as we implement initiatives designed to continue to grow our business, including, among other things, the
development and marketing of new products and services, further international and domestic expansion, expansion of our infrastructure,
development of systems and processes, acquisition of content, and general and administrative expenses associated with being a public
company. If our revenues do not increase to offset these expected increases in operating expenses, we will continue to incur significant
losses and will not become profitable. Our revenue growth in past periods should not be considered indicative of our future performance.
In fact, in future periods, our revenues could decline as they have in recent years. Accordingly, we may not be able to achieve
profitability in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Also, should Twistbox
continue to incur significant losses and not become profitable, we might have to sell all or part of Twistbox, or terminate operations,
which could adversely impact our operating results and financial condition, as well as our ability to qualify for a listing on
a senior exchange, and to finance possible acquisitions that we have considered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, assets
acquired under the DT acquisition have not yet begun to generate revenues. If there are delays in the integration of DT or if we
are unable to successfully negotiate with carriers or mobile operators or if these negotiations cannot occur on a timely basis,
we may not be able to generate revenues through the DT assets in the foreseeable future or at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are considering
the future status and role of Twistbox in relation to our focus on the DT platform. Although it is our only active business, Twistbox
revenues have been declining, which we expect to continue for the foreseeable future. At the same time, we intend to seek to leverage
its existing customer base for offerings by DT. While we believe the offering of DT&rsquo;s platform to Twistbox customers is an
attractive strategy, it entails significant risks, some of which are described in &ldquo;Risk Factors&rdquo;, and include the possibility
that Twistbox may operate at a deficit while we need to make investments to effectively launch DT, which, in turn, entails business
and financial risks and the possibility of needing additional capital and the associate dilution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We have a limited operating history
in an emerging market, which may make it difficult to evaluate our business. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have only a limited
history of generating revenues, and the future revenue potential of our business in this emerging market is uncertain. As a result
of our short operating history, we have limited financial data that can be used to evaluate our business. Any evaluation of our
business and our prospects must be considered in light of our limited operating history and the risks and uncertainties encountered
by companies in our stage of development. As an early stage company in the emerging mobile entertainment industry, we face increased
risks, uncertainties, expenses and difficulties. To address these risks and uncertainties, we must do the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">maintain our current, and develop new,
wireless carrier relationships, in both international and domestic markets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">maintain and expand our current, and develop
new, relationships with compelling content owners;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">retain or improve our current revenue-sharing
arrangements with carriers and content owners;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">continue to develop new high-quality products
and services that achieve significant market acceptance;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">continue to develop and upgrade our technology;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">continue to enhance our information processing
systems;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">increase the number of end users of our
products and services;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">execute our business and marketing strategies
successfully;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">respond to competitive developments; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">attract, integrate, retain and motivate
qualified personnel.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may be unable to
accomplish one or more of these objectives, which could cause our business to suffer. In addition, accomplishing many of these
efforts might be very expensive, which could adversely impact our operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our financial results could vary
significantly from quarter to quarter and are difficult to predict. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s revenues
are declining and are expected to continue to decline. Our revenues and operating results could vary significantly from quarter
to quarter because of a variety of factors, many of which are outside of our control. As a result, comparing our operating results
on a period-to-period basis may not be meaningful. In addition, we may not be able to predict our future revenues or results of
operations. We base our current and future expense levels on our internal operating plans and sales forecasts, and our operating
costs are to a large extent fixed. As a result, we may not be able to reduce our costs sufficiently to compensate for an unexpected
shortfall in revenues, and even a small shortfall in revenues could disproportionately and adversely affect financial results for
that quarter. Individual products and services, and carrier relationships, represent meaningful portions of our revenues and net
loss in any quarter. In addition, some payments from carriers that we recognize as revenue on a cash basis may be delayed unpredictably.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to other
risk factors discussed in this section, factors that may contribute to the variability of our quarterly results include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the number of new products and services
released by us and our competitors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the timing of release of new products and services by us and our competitors,
particularly those that may represent a significant portion of revenues in a period;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the popularity of new products and services, and products and services
released in prior periods;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in prominence of deck placement for our leading products and
those of our competitors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the expiration of existing content licenses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the timing of charges related to impairments of goodwill, intangible
assets, royalties and minimum guarantees;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in pricing policies by us, our competitors or our carriers
and other distributors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in the mix of original and licensed content, which have varying
gross margins;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the seasonality of our industry;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">fluctuations in the size and rate of growth of overall consumer demand
for mobile products and services and related content;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">strategic decisions by us or our competitors, such as acquisitions,
divestitures, spin-offs, joint ventures, strategic investments or changes in business strategy;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">our success in entering new geographic markets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">foreign exchange fluctuations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">accounting rules governing recognition of revenue;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">general economic, political and market conditions and trends;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the timing of compensation expense associated with equity compensation
grants; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">decisions by us to incur additional expenses, such as increases in
marketing or research and development.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of these
and other factors, our operating results may not meet the expectations of investors or public market analysts who choose to follow
our company. Our failure to meet market expectations would likely result in decreases in the trading price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We currently rely on wireless carriers
to market and distribute some of our products and services and thus to generate some of our revenues. The loss of or a change in
any of these significant carrier relationships could cause us to lose access to their subscribers and thus materially reduce our
revenues. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The future success
of our on-deck business is highly dependent upon maintaining successful relationships with the wireless carriers with which we
currently work and establishing new carrier relationships in geographies where we have not yet established a significant presence.
A significant portion of our revenue is derived from a very limited number of carriers. We expect that we will continue to generate
a substantial portion of our revenues through distribution relationships with a limited number of carriers for the foreseeable
future. Our failure to maintain our relationships with these carriers would materially reduce our revenues and thus harm our business,
operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have both exclusive
and non-exclusive carrier agreements. Typically, carrier agreements have a term of one or two years with automatic renewal provisions
upon expiration of the initial term, absent a contrary notice from either party. In addition, some carrier agreements provide that
the carrier can terminate the agreement early and, in some instances, at any time without cause, which could give them the ability
to renegotiate economic or other terms. The agreements generally do not obligate the carriers to market or distribute any of our
products or services. In many of these agreements, we warrant that our products do not violate community standards, do not contain
libelous content, do not contain material defects or viruses, and do not violate third-party intellectual property rights and we
indemnify the carrier for any breach of a third party&rsquo;s intellectual property. In addition, many of our agreements allow
the carrier to set the retail price without adjustment to the negotiated revenue split. If one of these carriers sets the retail
price below historic pricing models, the total revenues received from these carriers will be significantly reduced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Many other factors
outside our control could impair our ability to generate revenues through a given carrier, including the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s preference for our
competitors&rsquo; products and services rather than ours;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision not to include
or highlight our products and services on the deck of its mobile handsets;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision to discontinue
the sale of some or all of products and services;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision to offer
similar products and services to its subscribers without charge or at reduced prices;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision to require
market development funds from publishers like us;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision to restrict
or alter subscription or other terms for downloading our products and services;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">a failure of the carrier&rsquo;s merchandising,
provisioning or billing systems;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision to offer
its own competing products and services;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">the carrier&rsquo;s decision to transition
to different platforms and revenue models; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">consolidation among carriers.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any of our carriers
decides not to market or distribute our products and services or decides to terminate, not renew or modify the terms of its agreement
with us or if there is consolidation among carriers generally, we may be unable to replace the affected agreement with acceptable
alternatives, causing us to lose access to that carrier&rsquo;s subscribers and the revenues they afford us, which could materially
harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Failure to renew our existing brand
and content licenses on favorable terms or at all and to obtain additional licenses would impair our ability to introduce new products
and services or to continue to offer our products and services based on third-party content. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenues are derived
from our products and services based on or incorporating brands or other intellectual property licensed from third parties. Any
of our licensors could decide not to renew our existing license or not to license additional intellectual property and instead
license to our competitors or develop and publish its own products or other applications, competing with us in the marketplace.
Several of these licensors already provide intellectual property for other platforms, and may have significant experience and development
resources available to them should they decide to compete with us rather than license to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have both exclusive
and non-exclusive licenses and licenses that are both global and licenses that are limited to specific geographies. Our licenses
generally have terms that range from two to five years. We may be unable to renew these licenses or to renew them on terms favorable
to us, and we may be unable to secure alternatives in a timely manner. Failure to maintain or renew our existing licenses or to
obtain additional licenses would impair our ability to introduce new products and services or to continue to offer our current
products or services, which would materially harm our business, operating results and financial condition. Some of our existing
licenses impose, and licenses that we obtain in the future might impose, development, distribution and marketing obligations on
us. If we breach our obligations, our licensors might have the right to terminate our licenses, and such termination would harm
our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Even if we are successful
in gaining new licenses or extending existing licenses, we may fail to anticipate the entertainment preferences of our end users
when making choices about which brands or other content to license. If the entertainment preferences of end users shift to content
or brands owned or developed by companies with which we do not have relationships, we may be unable to establish and maintain successful
relationships with these developers and owners, which would materially harm our business, operating results and financial condition.
In addition, some rights are licensed from licensors that have or may develop financial difficulties, and may enter into bankruptcy
protection under U.S. federal law or the laws of other countries. If any of our licensors files for bankruptcy, our licenses might
be impaired or voided, which could materially harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Inferior on-deck placement would
likely adversely impact our revenues and thus our operating results and financial condition. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Wireless carriers provide
a limited selection of products that are accessible to their subscribers through a deck on their mobile handsets. The inherent
limitation on the volume of products available on the deck is a function of the limited screen size of handsets and carriers&rsquo;
perceptions of the depth of menus and numbers of choices end users will generally utilize. Carriers typically provide one or more
top level menus highlighting products that are recent top sellers or are of particular interest to the subscriber, that the carrier
believes will become top sellers or that the carrier otherwise chooses to feature, in addition to a link to a menu of additional
products sorted by genre. We believe that deck placement on the top level or featured menu or toward the top of genre-specific
or other menus, rather than lower down or in sub-menus, is likely to result in products achieving a greater degree of commercial
success. If carriers choose to give our products less favorable deck placement, our products may be less successful than we anticipate,
our revenues may decline and our business, operating results and financial condition may be materially harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we are unsuccessful in establishing
and increasing awareness of our brand and recognition of our products and services or if we incur excessive expenses promoting
and maintaining our brand or our products and services, our potential revenues could be limited, our costs could increase and our
operating results and financial condition could be harmed.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that establishing
and maintaining our brand is critical to retaining and expanding our existing relationships with wireless carriers, content licensors,
and mobile publishers as well as developing new relationships. Promotion of the Company&rsquo;s brands will depend on our success
in providing high-quality products and services. Similarly, recognition of our products and services by end users will depend on
our ability to develop engaging products and quality services to maintain existing, and attracts new, business relationships and
end users. However, our success will also depend, in part, on the services and efforts of third parties, over which we have little
or no control. For instance, if our carriers fail to provide high levels of service, our end users&rsquo; ability to access our
products and services may be interrupted, which may adversely affect our brand. If end users, branded content owners and carriers
do not perceive our offerings as high-quality or if we introduce new products and services that are not favorably received by our
end users and carriers, then we may be unsuccessful in building brand recognition and brand loyalty in the marketplace. In addition,
globalizing and extending our brand and recognition of our products and services will be costly and will involve extensive management
time to execute successfully. Further, the markets in which we operate are highly competitive and some of our competitors already
have substantially more brand name recognition and greater marketing resources than we do. If we fail to increase brand awareness
and consumer recognition of our products and services, our potential revenues could be limited, our costs could increase and our
business, operating results and financial condition could suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We currently rely on third-party
billing aggregators to provide end-users with access to some of our products and services through premium short message system
(Premium SMS), WAP billing and other technologies. The loss of, or a change in, any of these significant third-party relationships
or the use of mobile billing technologies could reduce the number of transactions initiated by these end-users and thus materially
reduce our revenues.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our off-deck business
is dependent upon access to available traffic and billing aggregators that use mobile billing technologies to deliver and bill
for our products and services. If we were to lose one or more of these relationships, or if there is a material change or limitation
in the use of certain billing technologies, we would experience a significant reduction in the number of transactions initiated
by end-users and thus material reduction in our revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to deliver our products
and services at the same time as new mobile handset models are commercially introduced, our sales may suffer. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business is dependent,
in part, on the commercial introduction of new handset models with enhanced features, including larger, higher resolution color
screens, improved audio quality, and greater processing power, memory, battery life and storage. We do not control the timing of
these handset launches. Some new handsets are sold by carriers with certain products or other applications pre-loaded, and many
end users who download our products or use our services do so after they purchase their new handsets to experience the new features
of those handsets. Some handset manufacturers give us access to their handsets prior to commercial release. If one or more major
handset manufacturers were to cease to provide us access to new handset models prior to commercial release, we might be unable
to introduce compatible versions of our products and services for those handsets in coordination with their commercial release,
and we might not be able to make compatible versions for a substantial period following their commercial release. If, because of
launch delays, we miss the opportunity to sell products and services when new handsets are shipped or our end users upgrade to
a new handset, or if we miss the key holiday selling period, either because the introduction of a new handset is delayed or we
do not deploy our products and services in time for the holiday selling season, our revenues would likely decline and our business,
operating results and financial condition would likely suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may be unable to develop and introduce
in a timely way new products or services, and our products and services may have defects, which could harm our brand. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The planned timing
and introduction of new products and services are subject to risks and uncertainties. Unexpected technical, operational, deployment,
distribution or other problems could delay or prevent the introduction of new products and services, which could result in a loss
of, or delay in, revenues or damage to our reputation and brand. If any of our products or services is introduced with defects,
errors or failures, we could experience decreased sales, loss of end users, damage to our carrier relationships and damage to our
reputation and brand. Our attractiveness to branded content licensors might also be reduced. In addition, new products and services
may not achieve sufficient market acceptance to offset the costs of development, particularly when the introduction of a product
or service is substantially later than a planned &ldquo;day-and-date&rdquo; launch, which could materially harm our business, operating
results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to maintain and enhance
our capabilities for porting our offerings to a broad array of mobile handsets, our attractiveness to wireless carriers and branded
content owners will be impaired, and our sales could suffer.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Once developed, a product
or application may be required to be ported to, or converted into separate versions for, more than 1,000 different handset models,
many with different technological requirements. These include handsets with various combinations of underlying technologies, user
interfaces, keypad layouts, screen resolutions, sound capabilities and other carrier-specific customizations. If we fail to maintain
or enhance our porting capabilities, our sales could suffer, branded content owners might choose not to grant us licenses and carriers
might choose not to give our products and services desirable deck placement or not to give our products and services placement
on their decks at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Changes to our design
and development processes to address new features or functions of handsets or networks might cause inefficiencies in our porting
process or might result in more labor-intensive porting processes. In addition, we anticipate that in the future we will be required
to port existing and new products and applications to a broader array of handsets. If we utilize more labor intensive porting processes,
our margins could be significantly reduced and it might take us longer to port our products and applications to an equivalent number
of handsets. This, in turn, could harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>As a result of a majority of our
revenues from on-deck distribution channels currently being derived from a limited number of wireless carriers, if any one of these
carriers were unable to fulfill its payment obligations, our financial condition and results of operations would suffer.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any of our primary
carriers is unable to fulfill its payment obligations to us under our carrier agreements with them, our revenues attributable to
on-deck distribution could decline significantly and our financial condition will be harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Related to Our Market</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The markets in which we operate are
highly competitive, and many of our competitors have significantly greater resources than we do. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The development, distribution
and sale of mobile products and services is a highly competitive business. We compete for end users primarily on the basis of &ldquo;on-deck&rdquo;
or &ldquo;off-deck&rdquo; positioning, brand, quality and price. We compete for wireless carriers for &ldquo;on-deck&rdquo; placement
based on these factors, as well as historical performance, technical know-how, perception of sales potential and relationships
with licensors of brands and other intellectual property. We compete for content and brand licensors based on royalty and other
economic terms, perceptions of development quality, porting abilities, speed of execution, distribution breadth and relationships
with carriers. We compete for platform deployment contracts amongst other mobile platform companies. We also compete for experienced
and talented employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our primary
competitors for the on-deck distribution channels as well as the provisioning of platform services include Mondia Media,
Motricity, net mobile AG, Jesta Digital, Buongiorno (acquired by NTT DOCOMO), Mobile Streams, and Gameloft, and for end-users
via our direct-to-consumer off-deck services they include Zamano plc, Playphone, Inc, Jesta and Flycell Inc. In the future,
likely competitors include major media companies, traditional video game publishers, platform developers, content
aggregators, mobile software providers and independent mobile game publishers. Carriers may also decide to develop,
internally or through a managed third-party developer, and distribute their own products and services. If carriers enter the
wireless market as publishers, they might refuse to distribute some or all of our products and services or might deny us
access to all or part of their networks. DT, whose principal customers would be carriers, would face competition from any
carriers who decided to distribute their own products or services. In addition, while we are not aware of any non-carriers
who are seeking to offer the equivalent scope of services as the DT platform, various of the competitors mentioned above (and
new competitors entering the mobile platform space) currently offer or could in the future offer components of DT&rsquo;s
platform, and may seek to expand their offerings to compete with DT on a comprehensive basis, especially if DT&rsquo;s model
and approach meets with success.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Some of our competitors&rsquo;
and our potential competitors&rsquo; advantages over us, either globally or in particular geographic markets, include the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">significantly greater revenues and financial resources;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">stronger brand and consumer recognition regionally or worldwide;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the capacity to leverage their marketing expenditures across a broader
portfolio of mobile and non-mobile products;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">more substantial intellectual property of their own from which they
can develop products and services without having to pay royalties;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">pre-existing relationships with brand owners or carriers that afford
them access to intellectual property while blocking the access of competitors to that same intellectual property;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">greater resources to make acquisitions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">lower labor and development costs; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">broader global distribution and presence.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 5pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we are unable to
compete effectively or we are not as successful as our competitors in our target markets, our sales could decline, our margins
could decline and we could lose market share, any of which would materially harm our business, operating results and financial
condition. If we are unable to compete effectively or we are not as successful as our competitors in our target markets, our sales could
decline (or inhibit generation of sales, in DT's case), our margins could decline and we could lose market share (or in DT's
case, fail to penetrate the market), any of which would materially harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>End user tastes are continually changing
and are often unpredictable; if we fail to develop and publish new products and services that achieve market acceptance, our sales
would suffer. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business depends
on developing and publishing new products and services that wireless carriers distribute and end users will buy. We must continue
to invest significant resources in licensing efforts, research and development, marketing and regional expansion to enhance our
offering of new products and services, and we must make decisions about these matters well in advance of product release in order
to implement them in a timely manner. Our success depends, in part, on unpredictable and volatile factors beyond our control, including
end-user preferences, competing products and services and the availability of other entertainment activities. If our products and
services are not responsive to the requirements of our carriers or the entertainment preferences of end users, are not marketed
effectively through our direct-to-consumer operations, or they are not brought to market in a timely and effective manner, our
business, operating results and financial condition would be harmed. Even if our products and services are successfully introduced,
marketed effectively and initially adopted, a subsequent shift in our carriers, the entertainment preferences of end users, or
our relationship with third-party billing aggregators could cause a decline in the popularity of, or access to, our offerings could
materially reduce our revenues and harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Wireless carriers generally control
the price charged for our products and services and the billing and collection for sales and could make decisions detrimental to
us. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Wireless carriers generally
control the price charged for our products and services either by approving or establishing the price of the offering charged to
their subscribers. Some of our carrier agreements also restrict our ability to change prices. In cases where carrier approval is
required, approvals may not be granted in a timely manner or at all. A failure or delay in obtaining these approvals, the prices
established by the carriers for our offerings, or changes in these prices could adversely affect market acceptance of our offerings.
Similarly, for the significant minority of our carriers, when we make changes to a pricing plan (the wholesale price and the corresponding
suggested retail price based on our negotiated revenue-sharing arrangement), adjustments to the actual retail price charged to
end users may not be made in a timely manner or at all (even though our wholesale price was reduced). A failure or delay by these
carriers in adjusting the retail price for our offerings, could adversely affect sales volume and our revenues for those offerings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Carriers and other
distributors also control billings and collections for our products and services, either directly or through third-party service
providers. If our carriers or their third-party service providers cause material inaccuracies when providing billing and collection
services to us, our revenues may be less than anticipated or may be subject to refund at the discretion of the carrier. This could
harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="color: black">&nbsp;</FONT><B><I>We
currently rely on the current state of the law in certain territories where we operate our &ldquo;off-deck&rdquo; direct-to-consumer
business and any adverse change in such laws may significantly adversely impact our revenues and thus our operating results and
financial condition.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Decisions that regulators
or governing bodies make with regard to the provision and marketing of mobile content and/or billing can have a significant impact
on the revenues generated in that market. Although most of our markets are mature with regulation clearly defined and implemented,
there remains the potential for regulatory changes that would have adverse consequences on the business and subsequently&nbsp;our
revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We rely on our current understanding
of regional regulatory requirements pertaining to the marketing, advertising and promotion of our &ldquo;off-deck&rdquo; direct-
to-consumer products and services and any adverse change in such regulations, or a finding that we did not properly understand
such regulations, may significantly impact our ability to market, advertise and promote our products and services thereby adversely
impact our revenues and thus our operating results and financial condition.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our off-deck business
relies extensively on marketing, advertising and promoting its products and services requiring it to have an understanding of the
local laws and regulations governing its business.&nbsp;&nbsp; In the event that we have relied on inaccurate information or advice,
and engage in marketing, advertising or promotional activities that are not permitted, we may be subject to penalties, restricted
from engaging in further activities or altogether prohibited from offering our products and services in a particular territory,
all or any of which will adversely impact our revenues and thus our operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The strategic direction of the Digital
Turbine business is not proven or certain. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The business model
that Digital Turbine is pursuing, white label storefront solutions, is not proven. There are many different types of models including,
but not limited to, up-front fees, revenue shares, per device fees, and advertising. Initial feedback from customers shows preference
for different types of models. This could lead to risk in predicting future revenues and profits by individual customers. In particular,
the &lsquo;free&rsquo; download market is reliant upon mobile advertising and the mobile advertising market is still in a nascent
phase of monetization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, our strategy
for Digital Turbine entails offering its platform to Twistbox customers. There can be no assurance that we will be able to successfully
market new services and offerings to Twistbox customers. Moreover, in order to credibly offer DT&rsquo;s platform, we will need
to achieve additional operational and technical achievements to further develop the product. While we remain optimistic about our
ability to complete this build out, it will be subject to all of the risks attendant to development efforts as well as the need
to provide additional capital to the effort.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Relating to Our Industry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Wireless communications technologies
are changing rapidly, and we may not be successful in working with these new technologies. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Wireless network and
mobile handset technologies are undergoing rapid innovation. New handsets with more advanced processors and supporting advanced
programming languages continue to be introduced. In addition, networks that enable enhanced features are being developed and deployed.
We have no control over the demand for, or success of, these products or technologies. If we fail to anticipate and adapt to these
and other technological changes, the available channels for our products and services may be limited and our market share and our
operating results may suffer. Our future success will depend on our ability to adapt to rapidly changing technologies and develop
products and services to accommodate evolving industry standards with improved performance and reliability. In addition, the widespread
adoption of networking or telecommunications technologies or other technological changes could require substantial expenditures
to modify or adapt our products and services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Technology changes
in the wireless industry require us to anticipate, sometimes years in advance, which technologies we must implement and take advantage
of in order to make our products and services, and other mobile entertainment products, competitive in the market. Therefore, we
usually start our product development with a range of technical development goals that we hope to be able to achieve. We may not
be able to achieve these goals, or our competition may be able to achieve them more quickly and effectively than we can. In either
case, our products and services may be technologically inferior to those of our competitors, less appealing to end users, or both.
If we cannot achieve our technology goals within our original development schedule, then we may delay their release until these
technology goals can be achieved, which may delay or reduce our revenues, increase our development expenses and harm our reputation.
Alternatively, we may increase the resources employed in research and development in an attempt either to preserve our product
launch schedule or to keep up with our competition, which would increase our development expenses. In either case, our business,
operating results and financial condition could be materially harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The complexity of and incompatibilities
among mobile handsets may require us to use additional resources for the development of our products and services. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To reach large numbers
of wireless subscribers, mobile entertainment publishers and white label storefront providers like us must support numerous mobile
handsets and technologies. However, keeping pace with the rapid innovation of handset technologies together with the continuous
introduction of new, and often incompatible, handset models by wireless carriers requires us to make significant investments in
research and development, including personnel, technologies and equipment. In the future, we may be required to make substantial
investments in our development if the number of different types of handset models continues to proliferate. In addition, as more
advanced handsets are introduced that enable more complex, feature rich products and services, we anticipate that our development
costs will increase, which could increase the risks associated with one or more of our products or services and could materially
harm our operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If wireless subscribers do not continue
to use their mobile handsets to access mobile entertainment and other applications, our business growth and future revenues may
be adversely affected. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We operate in a developing
industry. Our success depends on growth in the number of wireless subscribers who use their handsets to access data services and,
in particular, entertainment applications of the type we develop and distribute. New or different mobile entertainment applications
developed by our current or future competitors may be preferred by subscribers to our offerings. In addition, other mobile platforms
may become widespread, and end users may choose to switch to these platforms. If the market for our products and services does
not continue to grow or we are unable to acquire new end users, our business growth and future revenues could be adversely affected.
If end users switch their entertainment spending away from the kinds of offerings that we publish, or switch to platforms or distribution
where we do not have comparative strengths, our revenues would likely decline and our business, operating results and financial
condition would suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our industry is subject to risks
generally associated with the entertainment industry, any of which could significantly harm our operating results.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business is subject
to risks that are generally associated with the entertainment industry, many of which are beyond our control. These risks could
negatively impact our operating results and include: the popularity, price and timing of release of our offerings and mobile handsets
on which they are accessed; economic conditions that adversely affect discretionary consumer spending; changes in consumer demographics;
the availability and popularity of other forms of entertainment; and critical reviews and public tastes and preferences, which
may change rapidly and cannot necessarily be predicted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>A shift of technology platform by
wireless carriers and mobile handset manufacturers could lengthen the development period for our offerings, increase our costs
and cause our offerings to be of lower quality or to be published later than anticipated. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mobile handsets require
multimedia capabilities enabled by technologies capable of running applications such as ours. Our development resources are concentrated
in today&rsquo;s most popular platforms, and we have experience developing applications for these platforms. If one or more of
these technologies fall out of favor with handset manufacturers and wireless carriers and there is a rapid shift to a new technology
where we do not have development experience or resources, the development period for our products and services may be lengthened,
increasing our costs, and the resulting products and services may be of lower quality, and may be published later than anticipated.
In such an event, our reputation, business, operating results and financial condition might suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>System or network failures could
reduce our sales, increase costs or result in a loss of end users of our products and services. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mobile publishers rely
on wireless carriers&rsquo; networks to deliver products and services to end users and on their or other third parties&rsquo; billing
systems to track and account for the downloading of such offerings. In certain circumstances, mobile publishers may also rely on
their own servers to deliver products on demand to end users through their carriers&rsquo; networks. In addition, certain products&nbsp;require
access over the mobile Internet to our servers in order to enable certain features. Any failure of, or technical problem with,
carriers&rsquo;, third parties&rsquo; or our billing systems, delivery systems, information systems or communications networks
could result in the inability of end users to download our products, prevent the completion of a billing transaction, or interfere
with access to some aspects of our products. If any of these systems fail or if there is an interruption in the supply of power,
an earthquake, fire, flood or other natural disaster, or an act of war or terrorism, end users might be unable to access our offerings.
For example, from time to time, our carriers have experienced failures with their billing and delivery systems and communication
networks, including gateway failures that reduced the provisioning capacity of their branded e-commerce system. Any failure of,
or technical problem with, the carriers&rsquo;, other third parties&rsquo; or our systems could cause us to lose end users or revenues
or incur substantial repair costs and distract management from operating our business. This, in turn, could harm our business,
operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business depends on the growth
and maintenance of wireless communications infrastructure. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our success will depend
on the continued growth and maintenance of wireless communications infrastructure in the United States and internationally. This
includes deployment and maintenance of reliable next-generation digital networks with the speed, data capacity and security necessary
to provide reliable wireless communications services. Wireless communications infrastructure may be unable to support the demands
placed on it if the number of subscribers continues to increase, or if existing or future subscribers increase their bandwidth
requirements. Wireless communications have experienced a variety of outages and other delays as a result of infrastructure and
equipment failures, and could face outages and delays in the future. These outages and delays could reduce the level of wireless
communications usage as well as our ability to distribute our products and services successfully. In addition, changes by a wireless
carrier to network infrastructure may interfere with downloads and may cause end users to lose functionality. This could harm our
business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Future mobile handsets may significantly
reduce or eliminate wireless carriers&rsquo; control over delivery of our products and services and force us to rely further on
alternative sales channels, which, if not successful, could require us to increase our sales and marketing expenses significantly.
&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A growing number of
handset models currently available allow wireless subscribers to browse the Internet and, in some cases, download applications
from sources other than through a carrier&rsquo;s on-deck portal. In addition, the development of other application delivery mechanisms
such as premium-SMS may enable subscribers to download applications without having to access a carrier&rsquo;s on-deck portal.
Increased use by subscribers of open operating system handsets or premium-SMS delivery systems will enable them to bypass the carriers&rsquo;
on-deck portal and could reduce the market power of carriers. This could force us to rely further on alternative sales channels
and could require us to increase our sales and marketing expenses significantly. Relying on placement of our products and services
in the menus of off-deck distributors may result in lower revenues than might otherwise be anticipated. We may be unable to develop
and promote our direct website distribution sufficiently to overcome the limitations and disadvantages of off-deck distribution
channels. This could harm our business, operating results and financial condition</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Actual or perceived security vulnerabilities
in mobile handsets or wireless networks could adversely affect our revenues. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Maintaining the security
of mobile handsets and wireless networks is critical for our business. There are individuals and groups who develop and deploy
viruses, worms and other illicit code or malicious software programs that may attack wireless networks and handsets. Security experts
have identified computer &ldquo;worm&rdquo; programs that target handsets running on certain operating systems. Although these
worms have not been widely released and do not present an immediate risk to our business, we believe future threats could lead
some end users to seek to reduce or delay future purchases of our products or reduce or delay the use of their handsets. Wireless
carriers and handset manufacturers may also increase their expenditures on protecting their wireless networks and mobile phone
products from attack, which could delay adoption of new handset models. Any of these activities could adversely affect our revenues
and this could harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Changes in government regulation
of the media and wireless communications industries may adversely affect our business. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is possible that
a number of laws and regulations may be adopted in the United States and elsewhere that could restrict the media and wireless communications
industries, including laws and regulations regarding customer privacy, taxation, content suitability, copyright, distribution and
antitrust. Furthermore, the growth and development of the market for electronic commerce may prompt calls for more stringent consumer
protection laws that may impose additional burdens on companies such as ours conducting business through wireless carriers. We
anticipate that regulation of our industry will increase and that we will be required to devote legal and other resources to address
this regulation. Changes in current laws or regulations or the imposition of new laws and regulations in the United States or elsewhere
regarding the media and wireless communications industries may lessen the growth of wireless communications services and may materially
reduce our ability to increase or maintain sales of our products and services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A number of studies
have examined the health effects of mobile phone use, and the results of some of the studies have been interpreted as evidence
that mobile phone use causes adverse health effects. The establishment of a link between the use of mobile phone services and health
problems, or any media reports suggesting such a link, could increase government regulation of, and reduce demand for, mobile phones
and, accordingly, the demand for our products and services, and this could harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Related to Our Management, Employees
and Potential Acquisitions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business and growth may suffer
if we are unable to hire and retain key personnel, who are in high demand. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We depend on
the continued contributions of our domestic and international senior management and other key personnel. We have had 2
people fill the position of Chief Executive Officer in the last 2 years. The loss of the services of any of our executive
officers or other key employees could harm our business. Because not all of our executive officers and key employees are
under employment agreements or are under agreement with short terms, their future employment with the Company is uncertain
specifically our Chief Executive Officer&rsquo;s and our Executive Chairman&rsquo;s agreements each have short terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our future success
also depends on our ability to identify, attract and retain highly skilled technical, managerial, finance, marketing and creative
personnel. We face intense competition for qualified individuals from numerous technology, marketing and mobile entertainment companies.
In addition, competition for qualified personnel is particularly intense in the Los Angeles area, where our headquarters are located.
Further, we conduct principal overseas operations in Germany, an area that, similar to our headquarters region, has a high cost
of living and consequently high compensation standards and/or intense demand for qualified individuals which may require us to
incur significant costs to attract them. We may be unable to attract and retain suitably qualified individuals who are capable
of meeting our growing creative, operational and managerial requirements, or may be required to pay increased compensation in order
to do so. If we are unable to attract and retain the qualified personnel we need to succeed, our business would suffer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Volatility or lack
of performance in our stock price may also affect our ability to attract and retain our key employees. Some of our senior management
personnel and other key employees have become, or will soon become, vested in a substantial amount of stock or stock options. Employees
may be more likely to leave us if the shares they own or the shares underlying their options have significantly appreciated in
value relative to the original purchase prices of the shares or the exercise prices of the options, or if the exercise prices of
the options that they hold are significantly above the market price of our common stock. If we are unable to retain our employees,
our business, operating results and financial condition would be harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Growth may place significant demands
on our management and our infrastructure.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We operate in an emerging
market and have experienced, and may continue to experience, growth in our business through internal growth and acquisitions. This
growth has placed, and may continue to place, significant demands on our management and our operational and financial infrastructure.
Continued growth could strain our ability to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">develop and improve our operational, financial and management controls;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">enhance our reporting systems and procedures;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">recruit, train and retain highly skilled personnel;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">maintain our quality standards; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">maintain branded content owner, wireless carrier and end-user satisfaction.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Managing our growth
will require significant expenditures and allocation of valuable management resources. If we fail to achieve the necessary level
of efficiency in our organization as it grows, our business, operating results and financial condition would be harmed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The acquisition of other companies,
businesses or technologies could result in operating difficulties, dilution and other harmful consequences. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have made acquisitions
and, although we have no present understandings, commitments or agreements to do so (except as otherwise disclosed within this
document), we may pursue further acquisitions, any of which could be material to our business, operating results and financial
condition. Future acquisitions could divert management&rsquo;s time and focus from operating our business, even in instances where
acquisition negotiations are unsuccessful. In addition, integrating an acquired company, business or technology is risky and may
result in unforeseen operating difficulties and expenditures. We may also raise additional capital for the acquisition of, or investment
in, companies, technologies, products or assets that complement our business. Future acquisitions or dispositions could result
in potentially dilutive issuances of our equity securities, including our common stock, or the incurrence of debt, contingent liabilities,
amortization expenses or acquired in-process research and development expenses, any of which could harm our financial condition
and operating results. Future acquisitions may also require us to obtain additional financing, which may not be available on favorable
terms or at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">International acquisitions
involve risks related to integration of operations across different cultures and languages, currency risks and the particular economic,
political and regulatory risks associated with specific countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, a significant
portion of the purchase price of companies we acquire may be allocated to acquired goodwill and other intangible assets, which
must be assessed for impairment at least annually. In the future, if our acquisitions do not yield expected returns, we may be
required to take charges to our earnings based on this impairment assessment process, which could harm our operating results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The acquisition of Logia Mobile might
not be successful, or accretive to long-term shareholder value. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While we believe that
targeted acquisitions such as Logia Mobile will facilitate accelerated distribution for the DT user experience, there is no assurance
that this will be the case or that we will be able to generate significant growth in revenues from Logia&rsquo;s mobile customers
or from other potential acquisitions. In particular, a significant portion of Logia Mobile&rsquo;s revenue comes from one large
mobile operator customer. and Logia Mobile is reliant upon that customer for a significant portion of its operating cash flow.
In addition, there is no assurance that mobile operators will be successful and continue to want to compete with other mobile storefronts,
and they may decide they simply want to provide network access to their customers. The solutions are complex with many different
components and there is risk in the ability to integrate all of these various components into a single solution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Changes to financial accounting standards
could make it more expensive to issue stock options to employees, which would increase compensation costs and might cause us to
change our business practices. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We prepare our financial
statements to conform with accounting principles generally accepted in the United States. These accounting principles are subject
to interpretation by the Financial Accounting Standards Board, or FASB, the Securities and Exchange Commission (&ldquo;SEC&rdquo;
or the &ldquo;Commission&rdquo;) and various other bodies. A change in those principles could have a significant effect on our
reported results and might affect our reporting of transactions completed before a change is announced. For example, we have used
restricted stock and stock options grants as a fundamental component of our employee compensation packages. We believe that such
grants directly motivate our employees to maximize long-term stockholder value and, through the use of vesting, encourage employees
to remain in our employ. Several regulatory agencies and entities have made regulatory changes that could make it more difficult
or expensive for us to grant stock options or restricted stock to employees. We may, as a result of these changes, incur increased
compensation costs, change our equity compensation strategy or find it difficult to attract, retain and motivate employees, any
of which could materially and adversely affect our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Related to the Economy in the
United States and Globally</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The effects of the recent recession
in the United States and general downturn in the global economy, including financial market disruptions, could have an adverse
impact on our business, operating results or financial condition.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operating results
also may be affected by uncertain or changing economic conditions such as the challenges that are currently affecting economic
conditions in the United States and the global economy. If global economic and market conditions, or economic conditions in the
United States or other key markets, remain uncertain or persist, spread, or deteriorate further, we may experience material impacts
on our business, operating results, and financial condition in a number of ways including negatively affecting our profitability
and causing our stock price to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We face added business, political,
regulatory, operational, financial and economic risks as a result of our international operations and distribution, any of which
could increase our costs and hinder our growth. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We expect international
sales to continue to be an important component of our revenues. Risks affecting our international operations include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">challenges caused by distance, language and cultural differences;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">multiple and conflicting laws and regulations, including complications
due to unexpected changes in these laws and regulations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the burdens of complying with a wide variety of foreign laws and regulations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">higher costs associated with doing business internationally;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">difficulties in staffing and managing international operations;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">greater fluctuations in sales to end users and through carriers in
developing countries, including longer payment cycles and greater difficulty collecting accounts receivable;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">protectionist laws and business practices that favor local businesses
in some countries;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">foreign tax consequences;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">foreign exchange controls that might prevent us from repatriating
income earned in countries outside the United States;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">price controls;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">the servicing of regions by many different carriers;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">imposition of public sector controls;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">political, economic and social instability, including relating to
the current European sovereign debt crisis;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">restrictions on the export or import of technology;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">trade and tariff restrictions;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">variations in tariffs, quotas, taxes and other market barriers; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">difficulties in enforcing intellectual property rights in countries
other than the United States.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, developing
user interfaces that are compatible with other languages or cultures can be expensive. As a result, our ongoing international expansion
efforts may be more costly than we expect. Further, expansion into developing countries subjects us to the effects of regional
instability, civil unrest and hostilities, and could adversely affect us by disrupting communications and making travel more difficult.
These risks could harm our international expansion efforts, which, in turn, could materially and adversely affect our business,
operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Related to Potential Liability,
our Intellectual Property and our Content</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we do not adequately protect our
intellectual property rights, it may be possible for third parties to obtain and improperly use our intellectual property and our
competitive position may be adversely affected. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our intellectual property
is an essential element of our business. We rely on a combination of copyright, trademark, trade secret and other intellectual
property laws and restrictions on disclosure to protect our intellectual property rights. To date, we have not&nbsp;obtained patent
protection. Consequently, we may not be able to protect our technologies from independent invention by third parties. Despite our
efforts to protect our intellectual property rights, unauthorized parties may attempt to copy or otherwise to obtain and use our
technology and software. Monitoring unauthorized use of our technology and software is difficult and costly, and we cannot be certain
that the steps we have taken will prevent piracy and other unauthorized distribution and use of our technology and software, particularly
internationally where the laws may not protect our intellectual property rights as fully as in the United States. In the future,
we may have to resort to litigation to enforce our intellectual property rights, which could result in substantial costs and diversion
of our management and resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, although
we require third parties to sign agreements not to disclose or improperly use our intellectual property, it may still be possible
for third parties to obtain and improperly use our intellectual properties without our consent. This could harm our business, operating
results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Third parties may sue us for intellectual
property infringement, which, if successful, may disrupt our business and could require us to pay significant damage awards. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Third parties may sue
us for intellectual property infringement or initiate proceedings to invalidate our intellectual property, either of which, if
successful, could disrupt the conduct of our business, cause us to pay significant damage awards or require us to pay licensing
fees. In the event of a successful claim against us, we might be enjoined from using our licensed intellectual property, we might
incur significant licensing fees and we might be forced to develop alternative technologies. Our failure or inability to develop
non-infringing technology or software or to license the infringed or similar technology or software on a timely basis could force
us to withdraw products and services from the market or prevent us from introducing new products and services. In addition, even
if we are able to license the infringed or similar technology or software, license fees could be substantial and the terms of these
licenses could be burdensome, which might adversely affect our operating results. We might also incur substantial expenses in defending
against third-party infringement claims, regardless of their merit. Successful infringement or licensing claims against us might
result in substantial monetary liabilities and might materially disrupt the conduct of our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Litigation may harm our business.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Substantial, complex
or extended litigation could cause us to incur significant costs and distract our management. For example, lawsuits by employees,
stockholders, collaborators, distributors, customers, competitors or others could be very costly and substantially disrupt our
business. Disputes from time to time with such companies, organizations or individuals are not uncommon, and we cannot assure you
that we will always be able to resolve such disputes or on terms favorable to us. Unexpected results could cause us to have financial
exposure in these matters in excess of recorded reserves and insurance coverage, requiring us to provide additional reserves to
address these liabilities, therefore impacting profits.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Indemnity provisions in various agreements
potentially expose us to substantial liability for intellectual property infringement, damages caused by malicious software and
other losses. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the ordinary course
of our business, most of our agreements with carriers and other distributors include indemnification provisions. In these provisions,
we agree to indemnify them for losses suffered or incurred in connection with our products and services, including as a result
of intellectual property infringement and damages caused by viruses, worms and other malicious software. The term of these indemnity
provisions is generally perpetual after execution of the corresponding license agreement, and the maximum potential amount of future
payments we could be required to make under these indemnification provisions is generally unlimited. Large future indemnity payments
could harm our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We face risks associated with currency
exchange rate fluctuations. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently transact
a significant portion of our revenues in foreign currencies. Conducting business in currencies other than U.S. Dollars subjects
us to fluctuations in currency exchange rates that could have a negative impact on our reported operating results. Fluctuations
in the value of the U.S. Dollar relative to other currencies impact our revenues, cost of revenues and operating margins and result
in foreign currency transaction gains and losses. To date, we have not engaged in exchange rate-hedging activities. Even if we
were to implement hedging strategies to mitigate this risk, these strategies might not eliminate our exposure to foreign exchange
rate fluctuations and would involve costs and risks of their own, such as ongoing management time and expertise, external costs
to implement the strategies and potential accounting implications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our business in countries with a
history of corruption and transactions with foreign governments, including with government owned or controlled wireless carriers,
increase the risks associated with our international activities.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As we operate and sell
internationally, we are subject to the U.S. Foreign Corrupt Practices Act, or the FCPA, and other laws that prohibit improper payments
or offers of payments to foreign governments and their officials and political parties by the United States and other business
entities for the purpose of obtaining or retaining business. We have operations, deal with carriers and make sales in countries
known to experience corruption, particularly certain emerging countries in Eastern Europe and Latin America, and further international
expansion may involve more of these countries. Our activities in these countries create the risk of unauthorized payments or offers
of payments by one of our employees, consultants, sales agents or distributors that could be in violation of various laws including
the FCPA, even though these parties are not always subject to our control. We have attempted to implement safeguards to discourage
these practices by our employees, consultants, sales agents and distributors. However, our existing safeguards and any future improvements
may prove to be less than effective, and our employees, consultants, sales agents or distributors may engage in conduct for which
we might be held responsible. Violations of the FCPA may result in severe criminal or civil sanctions, and we may be subject to
other liabilities, which could negatively affect our business, operating results and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may be liable for the content
we make available through our products and services with mature themes.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because some of our
products and services contain content with mature themes, we may be subject to obscenity or other legal claims by third parties.
Our business, financial condition and operating results could be harmed if we were found liable for this content. Implementing
measures to reduce our exposure to this liability may require us to take steps that would substantially limit the attractiveness
of our products and services and/or its availability in various geographic areas, which would negatively impact our ability to
generate revenue. Furthermore, our insurance may not adequately protect us against all of these types of claims. Additionally,
we could continue to be exposed to these claims and potential liability even if and after we decide to sell such assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Government regulation of our content
with mature themes could restrict our ability to make some of our content available in certain jurisdictions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business is regulated
by governmental authorities in the countries in which we operate. Because of our international operations, we must comply with
diverse and evolving regulations. The governments of some countries have sought to limit the influence of other cultures by restricting
the distribution of products deemed to represent foreign or &ldquo;immoral&rdquo; influences. Regulation aimed at limiting minors&rsquo;
access to content with mature themes could also increase our cost of operations and introduce technological challenges, such as
by requiring development and implementation of age verification systems. As a result, government regulation of our adult content
could have a material adverse effect on our business, financial condition or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Government regulation of our marketing
methods could restrict our ability to adequately advertise and promote our content and services available in certain jurisdictions.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;Our business
is regulated by governmental authorities in the countries in which we operate. Because of our international operations, we must
comply with diverse and evolving regulations. The governments of some countries have sought to regulate the methods and manner
in which certain of our products and services may be marketed to potential end-users.&nbsp;&nbsp; Regulation aimed at prohibiting,
limiting or restricting various forms of advertising and promotion we use to market our products and services could also increase
our cost of operations or preclude the ability to offer our products and services altogether. As a result, government regulation
of our marketing efforts could have a material adverse effect on our business, financial condition or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Negative publicity, lawsuits or boycotts
by opponents of content with mature themes could adversely affect our operating performance and discourage investors from investing
in our publicly traded securities.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We could become a target
of negative publicity, lawsuits or boycotts by one or more advocacy groups who oppose the distribution of adult-oriented entertainment.
These groups have mounted negative publicity campaigns, filed lawsuits and encouraged boycotts against companies whose businesses
involve adult-oriented entertainment. To the extent our content with mature themes is viewed as adult-oriented entertainment, the
costs of defending against any such negative publicity, lawsuits or boycotts could be significant, could hurt our finances and
could discourage investors from investing in our publicly traded securities. To date, we have not been a target of any of these
advocacy groups. As a provider of content with mature themes, we cannot assure you that we may not become a target in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Risks Relating to Our Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>There is a limited trading market
for our common stock.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although prices for
our shares of common stock are quoted as of the date of this filing on the OTC QB tier of the OTC Markets (under the symbol MNDL),
there is no established public trading market for our common stock, and no assurance can be given that a public trading market
will develop or, if developed, that it will be sustained. We were removed from the OTC Bulletin Board in April 2012 due to having
three untimely filings with the SEC in a two-year period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is no assurance
that we will regain OTC bulletin board quotation or a listing on any national securities exchange, whose requirements would require
a reverse split of our stock, compliance with other quantitative and qualitative requirements and a subjective evaluation by the
staffs of any such national securities exchange. Even if we attain a listing on a national securities exchange there is no guarantee
we will maintain it.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The liquidity of our common stock
will be affected by its limited trading market.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Bid and ask prices
for shares of our common stock are quoted on the OTC QB tier of the OTC Markets under the symbol MNDL. There is currently no broadly
followed, established trading market for our common stock. While we are hopeful that we will command the interest of a greater
number of investors, an established trading market for our shares of common stock may never develop or be maintained. Active trading
markets generally result in lower price volatility and more efficient execution of buy and sell orders. The absence of an active
trading market reduces the liquidity of our common stock. As a result of the lack of trading activity, the quoted price for our
common stock on the OTC QB tier of the OTC Markets is not necessarily a reliable indicator of its fair market value. Further, if
we cease to be quoted, holders of our common stock would find it more difficult to dispose of, or to obtain accurate quotations
as to the market value of, our common stock, and the market value of our common stock to a lower tier would likely decline. In
addition, the tier of the OTC Markets on which we are traded could change. Any change could make it harder for holders of our common
stock or potential investors to access our information and find quotes for our stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If and when a trading market for
our common stock develops, the market price of our common stock is likely to be highly volatile and subject to wide fluctuations,
and you may be unable to resell your shares at or above the current price.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The market price of
our common stock is likely to be highly volatile and could be subject to wide fluctuations in response to a number of factors that
are beyond our control, including announcements of new products or services by our competitors. In addition, the market price of
our common stock could be subject to wide fluctuations in response to a variety of factors, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">quarterly variations in our revenues and operating expenses;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">developments in the financial markets, and the worldwide or regional
economies;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">announcements of innovations or new products or services by us or
our competitors;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">fluctuations in merchant credit card interest rates;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">significant sales of our common stock or other securities in the open
market; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">changes in accounting principles.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the past, stockholders
have often instituted securities class action litigation after periods of volatility in the market price of a company&rsquo;s securities.
If a stockholder were to file any such class action suit against us, we would incur substantial legal fees and our management&rsquo;s
attention and resources would be diverted from operating our business to respond to the litigation, which could harm our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The sale of securities by us in any
equity or debt financing, or the issuance of new shares related to an acquisition, could result in dilution to our existing stockholders
and have a material adverse effect on our earnings.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any sale or issuance
of common stock by us in a future offering or acquisition could result in dilution to the existing stockholders as a direct result
of our issuance of additional shares of our capital stock. In addition, our business strategy may include expansion through internal
growth by acquiring complementary businesses, acquiring or licensing additional brands, or establishing strategic relationships
with targeted customers and suppliers. In order to do so, or to finance the cost of our other activities, we may issue additional
equity securities that could dilute our stockholders&rsquo; stock ownership. We may also assume additional debt and incur impairment
losses related to goodwill and other tangible assets if we acquire another company, and this could negatively impact our earnings
and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We may need to raise additional capital
to grow our business, and we may not be able to raise capital on terms acceptable to us or at all. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The operation of our
business and our efforts to grow our business will further require significant cash outlays and commitments. If our cash, cash
equivalents and short-term investments balances and any cash generated from operations are not sufficient to meet our cash requirements,
we will need to seek additional capital, potentially through debt or equity financings, to fund our growth. We may not be able
to raise needed cash on terms acceptable to us or at all. Financings, if available, may be on terms that are dilutive or potentially
dilutive to our stockholders, and the prices at which new investors would be willing to purchase our securities may be lower than
the fair market value of our common stock. The holders of new securities may also receive rights, preferences or privileges that
are senior to those of existing holders of our common stock. If new sources of financing are required but are insufficient or unavailable,
we would be required to modify our growth and operating plans to the extent of available funding, which would harm our ability
to grow our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If securities or industry analysts
do not publish research or reports about our business, or if they downgrade their recommendations regarding our common stock, our
stock price and trading volume could decline.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The trading market
for our common stock will be influenced by the research and reports that industry or securities analysts publish about our business
or us. If any of the analysts who cover us downgrade our common stock, our common stock price would likely decline. If analysts
cease coverage of our Company or fail to regularly publish reports on us, we could lose visibility in the financial markets, which
in turn could cause our common stock price or trading volume to decline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>We do not anticipate paying dividends.
&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have never paid
cash or other dividends on our common stock. Payment of dividends on our common stock is within the discretion of our Board of
Directors and will depend upon our earnings, our capital requirements and financial condition, and other factors deemed relevant
by our Board of Directors. However, the earliest our Board of Directors would likely consider a dividend is if we begin to generate
excess cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Our officers, directors and principal
stockholders can exert significant influence over us and may make decisions that are not in the best interests of all stockholders.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our officers, directors
and principal stockholders (greater than 5% stockholders) collectively beneficially own approximately 56% of our outstanding common
stock. As a result, this group will be able to affect the outcome of, or exert significant influence over, all matters requiring
stockholder approval, including the election and removal of directors and any change in control. In particular, this concentration
of ownership of our common stock could have the effect of delaying or preventing a change of control of us or otherwise discouraging
or preventing a potential acquirer from attempting to obtain control of us. This, in turn, could have a negative effect on the
market price of our common stock. It could also prevent our stockholders from realizing a premium over the market prices for their
shares of common stock. Moreover, the interests of this concentration of ownership may not always coincide with our interests or
the interests of other stockholders, and, accordingly, this group could cause us to enter into transactions or agreements that
we would not otherwise consider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>If we fail to maintain an effective
system of internal controls, we might not be able to report our financial results accurately or prevent fraud; in that case, our
stockholders could lose confidence in our financial reporting, which could negatively impact the price of our stock. &nbsp;</I></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Effective internal
controls are necessary for us to provide reliable financial reports and prevent fraud. In addition, Section&nbsp;404 of the Sarbanes-Oxley
Act of 2002, or the Sarbanes-Oxley Act, requires us to evaluate and report on our internal control over financial reporting. We
are in the process of strengthening and testing our system of internal controls. The process of implementing our internal controls
and complying with Section&nbsp;404 is expensive and time consuming and requires significant attention of management. We cannot
be certain that these measures will ensure that we implement and maintain adequate controls over our financial processes and reporting
in the future. Even if we conclude that our internal control over financial reporting provides reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles, because of its inherent limitations, internal control over financial reporting may not prevent
or detect fraud or misstatements. Failure to implement required new or improved controls, or difficulties encountered in their
implementation, could harm our operating results or cause us to fail to meet our reporting obligations. If we discover a material
weakness or a significant deficiency in our internal control, the disclosure of that fact, even if quickly remedied, could reduce
the market&rsquo;s confidence in our financial statements and harm our stock price. In addition, if we fail to comply with the
applicable portions of Section&nbsp;404, we could be subject to a variety of administrative sanctions, including ineligibility
for short form resale registration, action by the SEC, and the inability of registered broker-dealers to make a market in our common
stock, which could further reduce our stock price and harm our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Maintaining and improving our financial
controls and the requirements of being a public company may strain our resources, divert management&rsquo;s attention and affect
our ability to attract and retain qualified members for our Board of Directors. &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a public company,
we are subject to the reporting requirements of the Exchange Act and the Sarbanes-Oxley Act. The requirements of these rules and
regulations has resulted in an increase in our legal, accounting and financial compliance costs, may make some activities more
difficult, time-consuming and costly and may place undue strain on our personnel, systems and resources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Sarbanes-Oxley
Act requires, among other things, that we maintain effective disclosure controls and procedures and internal control over financial
reporting. This can be difficult to do. For example, we depend on the reports of wireless carriers for information regarding the
amount of sales of our products and services and to determine the amount of royalties we owe branded content licensors and the
amount of our revenues. These reports may not be timely, and in the past they have contained, and in the future they may contain,
errors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to maintain
and improve the effectiveness of our disclosure controls and procedures and internal control over financial reporting, we expend
significant resources and provide significant management oversight. We have a substantial effort ahead of us to implement appropriate
processes, document our system of internal control over relevant processes, assess their design, remediate any deficiencies identified
and test their operation. As a result, management&rsquo;s attention may be diverted from other business concerns, which could harm
our business, operating results and financial condition. These efforts will also involve substantial accounting-related costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;The Sarbanes-Oxley
Act makes it more difficult and more expensive for us to maintain directors&rsquo; and officers&rsquo; liability insurance, and
we may be required in the future&nbsp;to accept reduced coverage or incur substantially higher costs to maintain coverage. If we
are unable to maintain adequate directors&rsquo; and officers&rsquo; insurance, our ability to recruit and retain qualified directors,
and officers will be significantly curtailed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The ownership interest of our current
stockholders will be substantially diluted if our outstanding securities convertible and/or exercisable&nbsp;into shares of our
common stock are converted and/or exercised.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 15, 2012,
we had an aggregate of approximately $3,680,000 of Convertible Notes convertible into 18,352,381 shares of our common stock, and
warrants to purchase 18,312,987 shares of our common stock. To the extent our outstanding securities convertible and/or exercisable
into shares of our common stock are converted and/or exercised, additional shares of our common stock will be issued, which will
result in dilution to our stockholders and increase the number of shares of common stock eligible for resale into the public market.
Sales of such shares of common stock could adversely affect the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Shares eligible for future sale</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 15, 2012, 51,196,077 of our total outstanding shares are restricted from immediate resale but may be sold into the
market in the near future. This could cause the market price of our common stock to drop significantly. Shares of restricted common
stock are generally available for resale following a six month holding period. As restrictions on resale end, the market price
could drop significantly if the holders of these restricted shares sell them or are perceived by the market as intending to sell
them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>ITEM 2.</B></TD><TD STYLE="text-align: justify"><B>PROPERTIES</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The principal offices
of Mandalay and those of DT are located at 4751 Wilshire Boulevard, Third Floor, Los Angeles, California 90010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The principal offices
of our subsidiary Twistbox are headquartered at 14242 Ventura Boulevard, 3rd Floor, Sherman Oaks, California 91423. On July 1,
2005, The WAAT Corp. (Twistbox&rsquo;s predecessor-in-interest) entered into a lease for these premises with Berkshire Holdings,
LLC at a base rent of $21,000 per month. In July 2010, the lease expired and the Company entered a month-to-month lease for a reduced
amount of space for $9,000 per month. Twistbox also leases property&nbsp;in Germany and Poland, where it has branch operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="text-align: left; width: 1in"><B>ITEM 3.</B></TD><TD STYLE="text-align: justify"><B>LEGAL
                                                                                        PROCEEDINGS</B></TD>
</TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s wholly
owned subsidiary, WAAT Media Corp. (&ldquo;WAAT&rdquo;) and General Media Communications, Inc. (&ldquo;GMCI&rdquo;) were parties
to a content license agreement dated May 30, 2006, whereby GMCI granted to WAAT certain exclusive rights to exploit GMCI branded
content via mobile devices. GMCI terminated the agreement on January 26, 2009 based on its claim that WAAT failed to cure a material
breach pertaining to the non-payment of a minimum royalty guarantee installment in the amount of $485,000. On or about March 16,
2009, GMCI filed a complaint seeking the balance of the minimum guarantee payments due under the agreement in the approximate amount
of $4,085,000. WAAT counter-sued claiming GMCI was not entitled to the claimed amount and that it had breached the agreement, by
fraudulently inducing WAAT to enter into the agreement based on GMCI&rsquo;s repeated assurances of its intention to reinvigorate
its flagship brand. GMCI filed a demurrer to the counter-claim. WAAT subsequently filed an amended counter-claim. On August 16,
2011, the LA Superior Court ruled in favor of WAAT&rsquo;s Summary Judgment Motion. As a result, GMCI&rsquo;s potential damages
were limited to the amount of minimum royalty installments that accrued prior to the termination of the content license agreement
in the amount of approximately $800,000. Trial had been scheduled for April 16, 2012. However, on December 22, 2011, the parties
agreed to a settlement, pursuant to which WAAT will be required to pay GMCI $300,000 over a 30 month period, beginning December
28, 2011. The action will be dismissed with prejudice upon written notice to the court to be provided by GMCI within five business
days of GMCI&rsquo;s receipt of the final installment payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 6, 2012,
the Company received a notice of levy in the amount of $72,596 pertaining to a dispute with a service provider. The Company
has recorded the full amount in Accounts Payable on the balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 4, 2012,
the Company received notice of a judgment in the amount of $36,201 pertaining to a dispute with a previous employee. The
Company has recorded the full amount in Other Current Liabilities on the balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="text-align: left; width: 1in"><B>ITEM 4.</B></TD><TD STYLE="text-align: justify"><B>MINE
SAFETY DISCLOSURE</B></TD>
</TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.6in; font-size: 10pt; font-weight: bold; padding-left: 0in">ITEM 5.</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold">MARKET FOR REGISTRANT&rsquo;S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Market Information</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 15, 2012,
the closing price of our common stock was $0.79.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 16, 2012,
we received FINRA's decision to remove the Company's common stock from the OTC Bulletin Board. As a result, our common
stock is quoted on the OTC tier of the OTC Markets under the symbol &ldquo;MNDL.&rdquo; We intend to either return
to being quoted on the OTC Bulletin Board one year from the date of our removal from the OTC Bulletin Board, or to achieve
a listing on a national securities exchange, in the future. Any investor who purchases our common stock is not likely to
find any liquid trading market for our common stock and there can be no assurance that any liquid trading market will
develop.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">&nbsp;&nbsp;The following
table reflects the high and low bids for our common stock for periods indicated. The quotations reflect high and low bid price
on a daily basis and reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not represent actual
transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">High</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Low</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Fiscal Year Ended March 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left">First quarter</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.64</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.30</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Second quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.85</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.44</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Third quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.70</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.42</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Fourth quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.99</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.57</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Fiscal Year Ended March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">First quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.40</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.15</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Second quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.64</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Third quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.21</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Fourth quarter</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.74</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.15</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Holders</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 15, 2012,
there were 503 holders of record of our common stock. There were also an undetermined number of holders who hold their stock in
nominee or &ldquo;street&rdquo; name.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Dividends</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not declared
cash dividends on our common stock since our inception and we do not anticipate paying any cash dividends in the foreseeable future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Adoption of Amended and Restated
2011 Equity Incentive Plan of Mandalay Digital Group, Inc. </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 26, 2011, our board of directors
adopted the 2011 Equity Incentive Plan of NeuMedia, Inc. and on April 27, 2012, our board of directors amended and restated the
plan and the related plan documents to change references to the name of our company from the &ldquo;NeuMedia, Inc.&rdquo; to &ldquo;Mandalay
Digital Group, Inc.&rdquo; and further directed that they be submitted to stockholders for their consideration and approval. On
May 23, 2012, our stockholders approved and adopted by written consent the Amended and Restated 2011 Equity Incentive Plan of Mandalay
Digital Group, Inc. (the &ldquo;Plan&rdquo;) and the Mandalay Digital Group, Inc. Amended and Restated 2011 Equity Incentive Plan
Notice of Grant and Restricted Stock Agreement and the Mandalay Digital Group, Inc. Amended and Restated 2011 Equity Incentive
Plan Notice of Grant and Stock Option Agreement (collectively, the &ldquo;Related Documents&rdquo;). A summary of the Plan is set
forth below. This summary is subject to and qualified in its entirety by the Plan and related documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Principal Reasons for Adoption of the Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors
believes the Plan is necessary to give us the ability to (i)&nbsp;attract and retain qualified key employees, non-employee directors
and consultants with appropriate equity-based awards, (ii)&nbsp;motivate high levels of performance, (iii)&nbsp;recognize employee
contributions to our success, and (iv)&nbsp;align the interests of plan participants with those of our stockholders. In addition,
our board of directors believes a meaningful equity compensation program is necessary to provide us with flexibility in negotiating
strategic acquisitions and other business relationships to further expand and grow our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Without the ability
to grant equity-based awards for these purposes, we may not remain competitive for qualified executives and employees, non-employee
directors and consultants, particularly against similar companies vying for a limited talent pool. The Plan contains a number of
provisions that the board believes are consistent with the interests of stockholders and sound corporate governance practices.
These include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&bull;</TD>
    <TD STYLE="width: 90%; text-align: justify"><B>Individual Grant Limits.</B> No participant may be granted in aggregate, in any calendar year, Awards covering more than 500,000 shares. </TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&bull;</TD>
    <TD STYLE="width: 90%; text-align: justify"><B>No annual &ldquo;Evergreen&rdquo; Provision.</B>&nbsp;The Plan provides for a fixed allocation of shares, thereby requiring stockholder approval of any additional allocation of shares.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: justify">&bull;</TD>
    <TD STYLE="width: 90%; text-align: justify"><B>No Discount Stock Options.</B>&nbsp;The Plan prohibits the grant of a stock option with an exercise price of less than the fair market value of the closing price of our common stock on the date the stock option is granted.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Implementation and Effect of the Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Summary Description of the Plan</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35pt">The Plan provides for
grants of stock options, stock appreciation rights (&ldquo;SARs&rdquo;), restricted stock and restricted stock units (sometimes
referred to individually or collectively as &ldquo;Awards&rdquo;) to our and our subsidiaries&rsquo; officers, employees, non-employee
directors and consultants. Stock options may be either &ldquo;incentive stock options&rdquo; (&ldquo;ISOs&rdquo;), as defined in
Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &ldquo;Code&rdquo;), or non-qualified stock options (&ldquo;NQSOs&rdquo;).
The Plan reserves 4,000,000 shares for issuance, of which 191,667 remain available for issuance as of May 23, 2012. The 4,000,000
shares reserved for issuance will serve as the underlying value for all equity awards under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Plan Administration; Amendment and Termination
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our board of directors
and/or one or more of its committees (&ldquo;Administrator&rdquo;) administer the Plan in accordance with applicable law. The Board
may amend, suspend or terminate any portion of the Plan for any reason, but must obtain stockholder consent for any material plan
amendment to the extent necessary to comply with applicable laws, rules or regulations, and the consent of affected plan participants
if any such action alters or impairs any obligations regarding Awards that have been granted to such participants. The Plan terminates
in 2021. However, such termination will not affect Awards granted under the Plan prior to termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Reversion of Shares to the Plan </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When Awards made under
the Plan expire or are forfeited, the underlying shares will become available for future Awards under the Plan. In addition, any
shares that are not issued upon the exercise of an Award shall also become available for future Awards under the Plan. Shares awarded
and delivered under the Plan may be authorized but unissued, or reacquired shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Eligibility for
Awards </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The employees, officers,
non-employee directors and consultants of the Company and its subsidiaries and &ldquo;affiliates&rdquo; (as defined in the Plan)
may be granted Awards under the Plan. The Administrator determines which individuals will receive Awards, as well as the number
and composition of each Award. Awards under the Plan may consist of a single type or any combination of the types of Awards permissible
under the Plan as determined by the Administrator (or by the full board in the case of Awards to non-employee directors). These
decisions may be based on various factors, including a participant&rsquo;s duties and responsibilities, the value of the participant&rsquo;s
past services, his/her potential contributions to our success, and other factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Exercise Price Limitations
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Administrator will
determine the exercise price for the shares underlying each Award on the date the Award is granted. The exercise price for shares
under an ISO may not be less than 100% of fair market value on the date the Award is granted. Similarly, under the terms of the
Plan, the exercise price for SARs and NQSOs may not be less than 100% of fair market value on the date of grant. There is no minimum
exercise price prescribed for restricted stock and restricted stock units awarded under the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Individual Grant Limits </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No participant may
be granted in aggregate, in any calendar year, Awards covering more than 500,000 shares. Such limitation is subject to proportional
adjustment in connection with any change in our capitalization as described in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Award Exercise; Payment of Exercise Price
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Administrator will
determine when Awards become exercisable. However, no Award may have a term longer than 10 years from the date of grant unless
otherwise approved by our stockholders, and no Award may be exercised after expiration of its term. Payment for any shares issued
upon exercise of an Award shall be specified in each participant&rsquo;s award agreement, and may be made by cash, check or other
means specified in the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Tax Withholding </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will have the right
to deduct or withhold or require a participant to remit to us an amount sufficient to satisfy federal, state, local and any applicable
foreign taxes (including FICA obligations, if applicable) required to be withheld with respect to the grant, exercise or vesting
of any Award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Effect of Termination, Death, or Disability
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a participant&rsquo;s
employment or consulting arrangement terminates for any reason, vesting will stop as of the effective termination date, and all
unvested awards as of such date shall immediately terminate. Participants generally have three months from their termination date
to exercise vested unexercised options and SARs before they expire. Longer post-termination exercise periods apply in the event
the termination of employment or cessation of service results from death or disability. If a participant is dismissed for cause,
the right to exercise shall generally terminate five business days following written notice from us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Non-Transferability of Awards </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise determined
by the Administrator, Awards granted under the Plan are not transferable other than by will or the laws of descent and distribution,
and may be exercised by the participant only during the participant&rsquo;s lifetime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Stock Appreciation Rights </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Plan, SARs
may be settled in shares or cash and must be granted with an exercise price of not less than 100% of fair market value on the date
of grant. Upon exercise of a SAR, a participant is entitled to receive cash or a number of shares equivalent in value to the difference
between the fair market value on the exercise date and the exercise price of the SAR. For example, assume a participant is granted
100 SARs with an exercise price of $10 and assume the SARs are later exercised when the fair market value of the underlying shares
is $20 per share. At exercise, the Participant is entitled to receive 50 shares [(($20-$10) x 100) / $20], or $1,000 in cash (50
x $20).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Restricted Stock </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan also permits
us to grant restricted stock. The Administrator has discretion to establish periods of restriction during which shares awarded
remain subject to forfeiture or our right to repurchase if the participant&rsquo;s employment terminates for any reason (including
death or disability). Restrictions may be based on the passage of time, the achievement of specific performance objectives, or
other measures as determined by the Administrator in its discretion. During periods of restriction, a participant has the right
to vote his/her restricted stock and to receive distributions and dividends, if any, but may not sell or transfer any such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Restricted Stock Units </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan also permits
us to grant restricted stock units that are payable in our shares or in cash. Each restricted stock unit is equivalent in value
to one share of our common stock. Depending on the number of restricted stock units that become vested at the end of the performance
period, the equivalent number of shares are payable to the participant, or the equivalent value in cash. The restricted stock units
may be vested upon the attainment of performance goals of based on continued service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Changes in Capitalization; Change of
Control </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Plan provides for
exercise price and quantity adjustments if we declare a stock dividend or stock split. Also, vesting or restriction periods may
be accelerated if we merge with another entity that does not either assume the outstanding Awards or substitute equivalent Awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>U.S. Federal Income Tax Consequences
</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Option Grants </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Options granted under
the Plan may be either ISOs, which are intended to satisfy the requirements of section&nbsp;422 of the Internal Revenue Code (IRC),
or NQSOs, which are not intended to meet those requirements. The Federal income tax treatment for NQSOs and ISOs are summarized
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Non-Qualified Stock Options </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No taxable income is
recognized by a participant upon the grant of an NQSO. Generally, the participant will recognize ordinary income in the year in
which the option is exercised. The amount of ordinary income will equal the difference between the fair market value of the purchased
shares on the exercise date compared to the exercise price paid to acquire such shares. We and the participant are required to
satisfy the tax withholding requirements applicable to that income, unless the participant is a non-employee Director or consultant,
in which case tax withholding is not required. We will be entitled to an income tax deduction equal to the amount of ordinary income
recognized by the participant with respect to exercised NQSOs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Incentive Stock Options </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No taxable income is
recognized by a participant upon the grant of an ISO. Generally, the participant will not recognize ordinary income in the year
in which the option is exercised, although the participant&rsquo;s gain from exercise may be subject to alternative minimum tax.
If the participant sells the underlying shares acquired from the option within two years after the option grant date or within
one year of the option exercise date, gain on that premature, &ldquo;disqualifying&rdquo; disposition will be treated as compensatory
ordinary income to the extent of the lesser of: (1)&nbsp;the fair market value of the shares on the date of exercise minus the
exercise price paid to acquire such shares, or (2)&nbsp;the amount realized on the disposition minus the exercise price. We will
be entitled to an income tax deduction that equals the amount of the participant&rsquo;s compensatory ordinary income. If the participant
does not make a disqualifying disposition, then we will not be entitled to a tax deduction. If the participant sells the underlying
shares in a &ldquo;qualifying&rdquo; disposition (i.e., two years after the option is granted and one year after the exercise date),
the disposition will be treated as either long-term capital gain or loss based on the difference between the sales proceeds and
the exercise price paid to acquire the shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Stock Appreciation Rights </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No taxable income is
recognized by a participant upon the grant of a SAR. The participant will recognize ordinary income in the year in which the SAR
is exercised. The amount of ordinary income will be the fair market value of the shares received or the cash payment. We and the
participant are required to satisfy the applicable tax withholding requirements, unless the participant is a non-employee Director,
where in such case tax withholding is not required. We will be entitled to an income tax deduction equal to the amount of ordinary
income recognized by the participant with respect to exercised SARs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Restricted Stock </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The tax principles
applicable to the issuance of restricted shares under the Plan will be substantially the same as those summarized above for the
exercise of non-qualified stock options in that they are both governed by Section&nbsp;83 of the IRC Code. Generally, when the
restriction lapses, the participant will have ordinary income equal to the difference between the fair market value of the shares
on the vesting date and any amount paid for the shares, if any. Alternatively, at the time of the grant, the participant may elect
under Section&nbsp;83(b) of the Code to include as ordinary income in the year of the grant, an amount equal to the difference
between the fair market value of the granted shares on the grant date and any amount paid for the shares. If the IRC Section&nbsp;83(b)
election is made, the participant will not recognize any additional compensation income when the restriction lapses, but may have
capital gain income or loss upon sale of the shares. We will be entitled to an income tax deduction equal to the ordinary income
recognized by the participant in the year in which the participant recognizes such income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Restricted Stock Units </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Generally, a plan participant
who is granted restricted stock units will recognize ordinary income in the year payment occurs. The income recognized will generally
be equal to the fair market value of the shares received or to the cash payment. We will generally be entitled to an income tax
deduction equal to the income recognized by the participant on the payment date for the taxable year in which the ordinary income
is recognized by the participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Deductibility of Executive Compensation
</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">We intend that any compensation deemed paid
by us in connection with the exercise of ISOs, NQSOs and SARs granted with exercise prices equal to the fair market value of the
shares on grant date will qualify as performance-based compensation not subject to Code Section&nbsp;162(m) $1,000,000 limitation
per covered individual on the deductibility of compensation paid to certain of our executive officers. A number of requirements
must be met in order for particular compensation to so qualify, so there can be no assurance that such compensation under the Plan
will be fully deductible in all circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Equity Compensation Plan Information &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth information concerning our 2007 Employee, Director and Consultant Stock Plan, our Amended and Restated 2011 Equity Incentive
Plan, and individual compensation arrangements with employees or consultants of the Company as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Number&nbsp;of&nbsp;securities&nbsp;to</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">Weighted-average</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">Number&nbsp;of&nbsp;securities</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">be&nbsp;issued&nbsp;upon&nbsp;exercise</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">exercise&nbsp;price&nbsp;of</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">remaining&nbsp;available&nbsp;for</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">of&nbsp;outstanding&nbsp;options,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">outstanding&nbsp;options,</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">future&nbsp;issuance&nbsp;under</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; font-weight: bold">Plan&nbsp;Category</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">warrants&nbsp;and&nbsp;rights</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">warrants&nbsp;and&nbsp;rights</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">equity&nbsp;compensation&nbsp;plans</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">(a)</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; font-weight: bold; text-align: center">(b)</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">(excluding&nbsp;securities</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">reflected&nbsp;in&nbsp;column&nbsp;(a))</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="font-size: 10pt; font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">(c)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 25%; font-size: 10pt; font-weight: bold; text-align: left; padding-left: 5.4pt">Equity compensation plan approved by security holders</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 22%; font-size: 10pt; text-align: right">4,798,352</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 22%; font-size: 10pt; text-align: right">1.80</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center; padding-left: 5.4pt">-</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left; padding-left: 5.4pt">Equity compensation plans not approved by security holders</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">525,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">$</TD><TD STYLE="font-size: 10pt; text-align: right">0.42</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">100,000</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; font-weight: bold; padding-left: 5.4pt">Total</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,323,352</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; padding-left: 5.4pt">-</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">1,498,352 options of the approved plan
in column (a) include awards transferred from Twistbox&rsquo;s equity compensation plan at the time of the merger with the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Unregistered Sales of Equity Securities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">The following is
a summary of transactions by us during the three months ended March 31, 2012, involving sales of our securities that were not registered
under the Securities Act. Each sale was exempt from registration under either Section 4(2) of the Securities Act or Section 3(a)(9)
of the Securities Act because (i) the securities were offered and sold only to accredited investors; (ii) there was no general
solicitation or general advertising related to the offerings; (iii) each investor was given the opportunity to ask questions and
receive answers concerning the terms of and conditions of the offering and to obtain additional information; (iv) the investors
represented that they were acquiring the securities for their own account and for investment; and (v) the securities were issued
with restrictive legends where required.</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">In March 2012, the
                                                                                                                             Company issued warrants to purchase 2,000,000 shares of common stock of the Company at an exercise price of $0.70 cents per
                                                                                                                             share with a term of 5 years. The warrants were issued as consideration related to the modification of an existing note to
                                                                                                                             convertible debt and treated as debt modification expense of $1,459 as of March 31, 2012. In connection with the same
                                                                                                                             transaction, the Company issued 1,071,429 warrants to purchase shares of common stock of the Company at an exercise price of
                                                                                                                             $0.70 cents per share. Also in connection with the same transaction, the Company issued 2,600,000 shares of common stock of
                                                                                                                             the Company as payment of $1,820 of principle of a convertible note. </FONT>We relied on Section 3(a)(9) of the Securities
                                                                                                                             Act as providing an exemption from registering the issuance of these shares of common stock under the Securities Act inasmuch
                                                                                                                             as the conversion was made with our existing security holders exclusively and no commission or other remuneration was paid or
                                                                                                                             given directly or indirectly for soliciting the exchange.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">In March 2012, the Company
sold 3,857,143 shares of common stock of the Company to investors for $0.70 cents per share. In connection with this sale of common
stock, the Company issued warrants to purchase 964,286 shares of common stock of the Company at an exercise price of $0.70 cents
per share with a term of 5 years.&nbsp;</FONT>We relied on Section 4(2) of the Securities Act, as providing an exemption from registering
the sale of these shares of common stock under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">In March 2012, the Company
issued 150,000 shares of common stock of the Company to a vendor. The shares vest over one year and were valued at the closing
market price on that date of $0.90 cents per share. The overall value was determined to be $135, of which $2 was recorded through
the period ended March 31, 2012. </FONT>We relied on Section 4(2) of the Securities Act, as providing an exemption from registering
the sale of these shares of common stock under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">In March 2012, the Company
issued 50,000 shares of common stock of the Company to a vendor. The shares are vested, but restricted for a one year period. The
shares were valued at the closing market price on that date of $0.85 cents per share. The overall value was determined to be $42,
of which $42 was recorded in the period ended March 31, 2012.&nbsp;</FONT>We relied on Section 4(2) of the Securities Act as providing
an exemption from registering the issuance of these shares of common stock under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">In January 2012, the Company
issued 1,375,000 shares of common stock of the Company to three employees. The shares are partially vested, but are restricted
for a two year period. The shares were valued at the closing market price on that date of $0.65 cents per share. The overall value
was determined to be $894, and $569 of expense was recorded through the period ended March 31, 2012.&nbsp;</FONT>We relied on Section
4(2) of the Securities Act, as providing an exemption from registering the sale of these shares of common stock under the Securities
Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: black">In January 2012, the Company
entered into a consulting agreement, pursuant to which, the Company issued 150,000 shares of common stock of the Company. The shares
vest over one year and were valued at the closing market price on that date of $0.65 cents per share. The overall value was determined
to be $98, and $59 of expense was recorded through the period ended March 31, 2012.&nbsp;</FONT>We relied on Section 4(2) of the
Securities Act, as providing an exemption from registering the sale of these shares of common stock under the Securities Act.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Issuer Purchases of Equity Securities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center"> For the year ending</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(a)<BR> Total&nbsp;Number&nbsp;of<BR> Shares&nbsp;(or&nbsp;Units)<BR> Purchased</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(b)<BR> Average&nbsp;Price&nbsp;Paid<BR> per&nbsp;Share&nbsp;(or&nbsp;Unit) ($)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(c)<BR> Total&nbsp;Number&nbsp;of<BR> Shares&nbsp;(or&nbsp;Units)<BR> Purchased&nbsp;as&nbsp;Part&nbsp;of<BR> Publicly&nbsp;Announced<BR> Plans&nbsp;or&nbsp;Programs</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(d)<BR> Maximum&nbsp;Number<BR> (or&nbsp;Approximate<BR> Dollar&nbsp;Value)&nbsp;of<BR> Shares&nbsp;(or&nbsp;Units)<BR> that&nbsp;May&nbsp;Yet&nbsp;Be<BR> Purchased&nbsp;Under<BR> the&nbsp;Plans&nbsp;or<BR> Programs</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%; font-weight: bold; text-align: center">March 31, 2012</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">0.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 6.&nbsp;&nbsp;SELECTED FINANCIAL DATA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Not applicable as we are a smaller reporting
company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 7. &nbsp;MANAGEMENT&rsquo;S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following discussion
should be read in conjunction with, and is qualified in its entirety by, the Financial Statements and the Notes thereto included
in this report. This discussion contains certain forward-looking statements that involve substantial risks and uncertainties. When
used in this Annual Report on Form 10-K, the words &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect&rdquo;
and similar expressions, as they relate to our management or us, are intended to identify such forward-looking statements. Our
actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking
statements as a result of a variety of factors including those set forth under &ldquo;Risk Factors&rdquo; beginning on page 7 and
elsewhere in this filing. Historical operating results are not necessarily indicative of the trends in operating results for any
future period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless the context
otherwise indicates, the use of the terms &ldquo;we,&rdquo; &ldquo;our&rdquo; &ldquo;us&rdquo; or the &ldquo;Company&rdquo; refer
to the business and operations of Mandalay Digital Group, Inc. (&ldquo;Mandalay Digital&rdquo;) and its operating and wholly-owned
subsidiary, Twistbox Entertainment, Inc. (&ldquo;Twistbox&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Historical Operations of Mandalay Digital Group, Inc.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mandalay Digital was
originally incorporated in the State of Delaware on November 6, 1998 under the name eB2B Commerce, Inc. On April 27, 2000, the
company merged into DynamicWeb Enterprises, Inc., a New Jersey corporation. DynamicWeb Enterprises, Inc was the resulting entity,
but it changed its name to eB2B Commerce, Inc. On April 13, 2005, the Company changed its name to Mediavest, Inc. On November 7,
2007, through a merger,&nbsp;the&nbsp;Company&nbsp;reincorporated in the State of Delaware under the name Mandalay Media, Inc.&nbsp;&nbsp;On
May 12, 2010, the Company changed its name to NeuMedia, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 6, 2012,
the Company merged with a wholly-owned, newly-formed subsidiary, changing its name to Mandalay Digital Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 27, 2004,
and as amended on December 17, 2004, the Company filed a plan for reorganization under Chapter 11 of the United States Bankruptcy
Code in the United States Bankruptcy Court for the Southern District of New York (the &ldquo;Plan of Reorganization&rdquo;). Under
the Plan of Reorganization, as completed on January 26, 2005: (1) the Company&rsquo;s net operating assets and liabilities were
transferred to the holders of the secured notes in satisfaction of the principal and accrued interest thereon; (2) $400,000 was
transferred to a liquidation trust and used to pay administrative costs and certain preferred creditors; (3) $100,000 was retained
by the Company to fund the expenses of remaining public; (4) 3.5% of the new common stock of the Company (140,000 shares) was issued
to the holders of record of Mandalay Digital&rsquo;s preferred stock in settlement of their liquidation preferences; (5) 3.5% of
the new common stock of the Company (140,000 shares) was issued to common stockholders of record as of January 26, 2005 in exchange
for all of the outstanding shares of the common stock of the company; and (6) 93% of the new common stock of the Company (3,720,000
shares) was issued to the sponsor of the Plan of Reorganization in exchange for $500,000 in cash. Through January 26, 2005, the
Company and its subsidiaries were engaged in providing business-to-business transaction management services designed to simplify
trading between buyers and suppliers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to February 12,
2008, the Company was a public shell company with no operations, and controlled by its significant stockholder, Trinad Capital
Master Fund, L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SUMMARY OF THE TWISTBOX MERGER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company entered
into an Agreement and Plan of Merger on December 31, 2007, as subsequently amended by the Amendment to Agreement and Plan of Merger
dated February 12, 2008 (the &ldquo;Merger Agreement&rdquo;), with Twistbox Acquisition, Inc., a Delaware corporation and a wholly-owned
subsidiary of the Company (&ldquo;Merger Sub&rdquo;), Twistbox Entertainment, Inc. (&ldquo;Twistbox&rdquo;), and Adi McAbian and
Spark Capital, L.P., as representatives of the stockholders of Twistbox, pursuant to which Merger Sub would merge with and into
Twistbox, with Twistbox as the surviving corporation (the &ldquo;Merger&rdquo;). The Merger was completed on February 12, 2008.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Merger
Agreement, upon the completion of the Merger, each outstanding share of Twistbox common stock, $0.001 par value per share, on a
fully-converted basis, with the conversion on a one-for-one basis of all issued and outstanding shares of the Series A Convertible
Preferred Stock of Twistbox and the Series B Convertible Preferred Stock of Twistbox, $0.01 par value per share (the &ldquo;Twistbox
Preferred Stock&rdquo;), converted automatically into and became exchangeable for Company common stock in accordance with certain
exchange ratios set forth in the Merger Agreement. In addition, by virtue of the Merger, each outstanding Twistbox option to purchase
Twistbox common stock issued pursuant to the Twistbox 2006 Stock Incentive Plan (the &ldquo;Plan&rdquo;) was assumed by the Company,
subject to the same terms and conditions as were applicable under such Plan immediately prior to the Merger, except that (a) the
number of shares of Company common stock issuable upon exercise of each Twistbox option was determined by multiplying the number
of shares of Twistbox common stock that were subject to such Twistbox option immediately prior to the Merger by 0.72967 (the &ldquo;Option
Conversion Ratio&rdquo;), rounded down to the nearest whole number; and (b) the per share exercise price for the shares of Mandalay
Digital common stock issuable upon exercise of each Twistbox option was determined by dividing the per share exercise price of
Twistbox common stock subject to such Twistbox option, as in effect prior to the Merger, by the Option Conversion Ratio, subject
to any adjustments required by the Internal Revenue Code. As part of the Merger, the Company also assumed all unvested Twistbox
options. The Merger consideration consisted of an aggregate of up to 12,325,000 shares of Company common stock, which included
the conversion of all shares of Twistbox capital stock and the reservation of 2,144,700 shares of Company common stock required
for assumption of the vested Twistbox options. The Company reserved an additional 318,772 shares of Company common stock required
for the assumption of the unvested Twistbox options. All warrants to purchase shares of Twistbox common stock outstanding at the
time of the Merger were terminated on or before the effective time of the Merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the completion
of the Merger, all shares of the Twistbox capital stock were no longer outstanding and were automatically canceled and ceased to
exist, and each holder of a certificate representing any such shares ceased to have any rights with respect thereto, except the
right to receive the applicable merger consideration. Additionally, each share of the Twistbox capital stock held by Twistbox or
owned by Merger Sub, the Company or any subsidiary of Twistbox or the Company immediately prior to the Merger, was canceled and
extinguished as of the completion of the Merger without any conversion or payment in respect thereof. Each share of common stock,
$0.001 par value per share, of Merger Sub issued and outstanding immediately prior to the Merger was converted upon completion
of the Merger into one validly issued, fully paid and non-assessable share of common stock, $0.001 par value per share, of the
surviving corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the Merger,
the Company agreed to guarantee up to $8,250,000 of Twistbox&rsquo;s outstanding debt to ValueAct SmallCap Master Fund L.P. (&ldquo;ValueAct&rdquo;
or &ldquo;VAC&rdquo;), with certain amendments. On July 30, 2007, Twistbox had entered into a Securities Purchase Agreement by
and among Twistbox, the Subsidiary Guarantors (as defined therein) and ValueAct, pursuant to which ValueAct purchased a note in
the amount of $16,500,000 (the &ldquo;ValueAct Note&rdquo; or the &ldquo;VAC Note&rdquo;) and a warrant which entitled ValueAct
to purchase from Twistbox up to a total of 2,401,747 shares of Twistbox&rsquo;s common stock (the &ldquo;Warrant&rdquo;). Twistbox
and ValueAct also entered into a Guarantee and Security Agreement by and among Twistbox, each of the subsidiaries of Twistbox,
the Investors, as defined therein, and ValueAct, as collateral agent, pursuant to which the parties agreed that the ValueAct Note
would be secured by substantially all of the assets of Twistbox and its subsidiaries (the &ldquo;VAC Note Security Agreement&rdquo;).
In connection with the Merger, the Warrant was terminated and we issued two warrants in place thereof to ValueAct to purchase shares
of our common stock. One of such warrants entitled ValueAct to purchase up to a total of 1,092,622 shares of our common stock at
an exercise price of $7.55 per share. The other warrant entitled ValueAct to purchase up to a total of 1,092,621 shares of our
common stock at an initial exercise price of $5.00 per share, which, if not exercised in full by February 12, 2009, would have
been permanently increased to an exercise price of $7.55 per share. Both warrants were scheduled to expire on July 30, 2011. The
warrants were subsequently modified on October 23, 2008 and cancelled on June 21, 2010, as set forth below. We also entered into
a Guaranty (the &ldquo;ValueAct Note Guaranty&rdquo;) with ValueAct whereby the Company agreed to guarantee Twistbox&rsquo;s payment
to ValueAct of up to $8,250,000 of principal under the ValueAct Note in accordance with the terms, conditions and limitations contained
in the ValueAct Note, which was subsequently amended as set forth below. The financial covenants of the ValueAct Note were also
amended, pursuant to which Twistbox was required to maintain a cash balance of not less than $2,500,000 at all times and the Company
is required to maintain a cash balance of not less than $4,000,000 at all times. The ValueAct Note was subsequently amended and
restated as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>SUMMARY OF THE AMV ACQUISITION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 23, 2008,
the Company consummated the acquisition of 100% of the issued and outstanding share capital of AMV Holding Limited, a United Kingdom
private limited company (&ldquo;AMV&rdquo;) and 80% of the issued and outstanding share capital of Fierce Media Limited, United
Kingdom private limited company (collectively the &ldquo;Shares&rdquo;). The acquisition of AMV is referred to herein as the &ldquo;AMV
Acquisition&rdquo;. The aggregate purchase price (subject to adjustments as provided in the stock purchase agreement) for the Shares
consisted of (i) $5,375,000 in cash; (ii) 4,500,000 shares of Company common stock, par value $0.0001 per share; (iii) a secured
promissory note in the aggregate principal amount of $5,375,000 (the &ldquo;AMV Note&rdquo;); and (iv) additional earn-out amounts,
if any, based on certain targeted earnings as set forth in the stock purchase agreement. The AMV Note was scheduled to mature on
July 31, 2010, and bore interest at an initial rate of 5% per annum, subject to adjustment as provided therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, also on
October 23, 2008, in connection with the AMV Acquisition, the Company, Twistbox and ValueAct entered into a Second Amendment to
the ValueAct Note, which among other things, provided for a payment-in-kind election at the option of Twistbox, modified the financial
covenants set forth in the ValueAct Note to require that the Company and Twistbox maintain certain minimum combined cash balances
and provided for certain covenants with respect to the indebtedness of the Company and its subsidiaries. Also on October 23, 2008,
AMV granted to ValueAct a security interest in its assets to secure the obligations under the ValueAct Note. In addition, the Company
and ValueAct entered into an allonge to each of those certain warrants issued to ValueAct in connection with the Merger, which,
among other things, amended the exercise price of each of the warrants to $4.00 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, also on
October 23, 2008, the Company entered into a Securities Purchase Agreement with certain investors identified therein (the &ldquo;Investors&rdquo;),
pursuant to which the Company agreed to sell to the Investors in a private offering an aggregate of 1,685,394 shares of common
stock and warrants to purchase 842,697 shares of common stock for gross proceeds to the Company of $4,500,000. The warrants have
a five year term and an exercise price of $2.67 per share. The funds were held in an escrow account pursuant to an Escrow Agreement,
dated October 23, 2008 and were released to the Company on or about November 8, 2008.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 14, 2009,
the Company and ValueAct entered into a Second Allonge to Warrant to Purchase 1,092,621 shares of the Company&rsquo;s common stock
(the &ldquo;Second Allonge&rdquo;), which amended that certain warrant to purchase 1,092,621 shares of the Company&rsquo;s common
stock, issued to ValueAct on February 12, 2008, as amended (the &ldquo;ValueAct Warrant&rdquo;). Pursuant to the Second Allonge,
the exercise price of the ValueAct Warrant decreased from $4.00 per share to the lesser of $1.25 per share, or the exercise price
per share for any warrant to purchase shares of the Company&rsquo;s common stock issued by the Company to certain other parties.
In addition, also on August 14, 2009, the Company, Twistbox and ValueAct entered into a Third Amendment to the ValueAct Note. Pursuant
to the Third Amendment, the maturity date was changed to July 31, 2010 and the interest rate of the ValueAct Note increased from
10% to 12.5%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 25, 2010,
Mandalay Digital, Twistbox and ValueAct entered into a Waiver to Senior Secured Note (the &ldquo;Waiver&rdquo;), pursuant to which
ValueAct agreed to waive certain provisions of the ValueAct Note. Pursuant to the Waiver, subject to Twistbox&rsquo;s compliance
with certain conditions set forth in the Waiver, certain rights to prepay the ValueAct Note were extended from January 31, 2010
to March 1, 2010. In addition, subject to Twistbox&rsquo;s compliance with certain conditions set forth in the Waiver, the timing
obligation of the Company and Twistbox to comply with the cash covenant set forth in the ValueAct Note was extended to March 1,
2010 and the minimum cash balance by which Twistbox and Mandalay Digital must maintain was increased to $1,600,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 25, 2010,
Twistbox received a letter (the &ldquo;Letter&rdquo;) from ValueAct alleging certain events of default with respect to the ValueAct
Note. The Letter claimed that an event of default had occurred and was continuing under the ValueAct Note as result of certain
alleged defaults, including the failure to provide weekly evidence of compliance with certain of Twistbox&rsquo;s and the Company&rsquo;s
covenants under the ValueAct Note, the failure to comply with limitations on certain payments by the Company and each of its subsidiaries,
and the failure of Twistbox and the Company to maintain minimum cash balances in deposit accounts of each of Twistbox and the Company.
The Letter also claimed that the Waiver had ceased to be effective as a result of the alleged failure of Mandalay Digital to comply
with the conditions set forth in the Waiver. On May 10, 2010, Twistbox received from ValueAct a Notice of Event of Default and
Acceleration (&ldquo;Notice&rdquo;) in which ValueAct stated that an event of default had occurred under the ValueAct Note as a
result of Twistbox&rsquo;s and Mandalay Digital&rsquo;s failure to comply with the cash balance covenant under the ValueAct Note
and, therefore, ValueAct accelerated all outstanding amounts payable by Twistbox under the ValueAct Note. In connection with the
Notice, ValueAct instituted an administration proceeding in the United Kingdom against AMV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 21, 2010, the
Company sold all of the operating subsidiaries of AMV to an entity controlled by ValueAct and certain of AMV&rsquo;s founders in
exchange for the release of $23,231,000 of secured indebtedness, comprising of a release of all amounts due and payable under the
AMV Note and all amounts due and payable under the VAC Note except for $3,500,000 in principal (the &ldquo;Restructure&rdquo;).
In connection with the Restructure, the ValueAct Note (as amended and restated, the &ldquo;Amended ValueAct Note&rdquo;), the Value
Act Security Agreement and the Value Act Guaranty were amended and restated in their entirety. In addition, all warrants and common
stock of the Company held by ValueAct were cancelled and all warrants and common stock of the Company held by AMV founders Nate
MacLeitch and Jonathan Cresswell were repurchased by the Company for a price of $0.02 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Amended ValueAct
Note matures on June 21, 2013 and bears interest at 10% payable in cash semi-annually in arrears on each January 1 and July 1 that
the Amended ValueAct Note is outstanding. Twistbox may prepay the Amended ValueAct Note in whole or in part at any time without
penalty. Notwithstanding the foregoing, at any time on or prior to January 1, 2012, Twistbox may, at its option, in lieu of making
any cash payment of interest, elect that the amount of any interest due and payable on any interest payment date on or prior to
January 1, 2012 be added to the principal due under the Amended ValueAct Note. In the event of a Fundamental Change (as defined
therein) of Twistbox, the holder of the Amended ValueAct Note will have the right for a period of thirty days to require Twistbox
to repurchase the Amended ValueAct Note at a price equal to 100% of the outstanding principal and all accrued and unpaid interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Also on June 21, 2010,
for purposes of capitalizing the Company, the Company sold and issued $2,500,000 of Senior Secured Convertible Notes due June 21,
2013 (the &ldquo;New Senior Secured Notes&rdquo; or the &ldquo;Senior Debt&rdquo;) to certain significant stockholders. The New
Senior Secured Notes have a three year term and bear interest at a rate of 10% per annum payable in arrears semi-annually. Notwithstanding
the foregoing, at any time on or prior to the 18th month following the original issue date of the New Senior Secured Notes, the
Company may, at its option, in lieu of making any cash payment of interest, elect that the amount of any interest due and payable
on any interest payment date on or prior to the 18th month following the original issue date of the New Senior Secured Notes be
added to the principal due under the New Senior Secured Notes. The accrued and unpaid principal and interest due on the New Senior
Secured Notes are convertible at any time at the election of the holder into shares of Company common stock at a conversion price
of US $0.15 per share, subject to adjustment. The New Senior Secured Notes are secured by a first lien on substantially all of
the assets of the Company and its subsidiaries. The Amended ValueAct Note is subordinated to the New Senior Secured Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each purchaser of a
New Senior Secured Note also received a warrant (&ldquo;Warrant&rdquo;) to purchase shares of common stock of the Company at an
exercise price of $0.25 per share, subject to adjustment. For each $1.00 of New Senior Secured Notes purchased, the purchaser received
a Warrant to purchase 3.33 shares of common stock of the Company. Each Warrant has a five year term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Merger and the
AMV Acquisition both included the issuance of common stock as all or part of the consideration. Based on the trading price of the
common stock as of the acquisition dates, the total consideration was approximately $67.5 million for the Merger and approximately
$22.2 million for the AMV Acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 16, 2011
the Amended ValueAct Note was purchased by Taja, LLC (&ldquo;Taja&rdquo;) and immediately amended to remove certain negative covenants
(as amended, the &ldquo;Taja Note&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Company Overview</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From February 12, 2008
to October 23, 2008, our sole operations were those of our wholly-owned subsidiary, Twistbox. In October 2008, we acquired AMV
Holding Limited and its subsidiaries, a mobile media and marketing company. On June 21, 2010, we sold AMV Holding Limited and its
subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox is a global,
mobile data services company primarily focused on enabling and optimizing the development, distribution and billing of content
and applications across mobile networks. Operating since 2003, Twistbox publishes content in over 28 countries with distribution
representing more than five hundred million subscribers. Twistbox has developed an intellectual property portfolio that includes
worldwide or territory exclusive mobile rights to content, a proprietary publishing platform that includes tools to automate device
management and billing of content and applications; a mobile games development and distribution platform that automates the porting
of mobile games and applications to over 1,500 handset models; a content ratings system adopted by certain major wireless carriers
to assist with the responsible deployment of age-verified programming and services; a suite of value added billing technologies
that allow for in-application billing, and Digital Rights Management (DRM) solutions. Twistbox has leveraged its intellectual property
and carrier-class technology to secure direct distribution and/or enabling agreements with leading mobile operators throughout
Europe, North America and Latin America, including, among others, Vodafone, Telefonica, Orange, and SFR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox maintains
a global distribution agreement with Vodafone. Through this relationship, in certain markets Twistbox serves as one of Vodafone&rsquo;s
exclusive category portal managers. Twistbox has similar exclusive agreements with other operators in selected territories.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to its
carrier publishing and enabling business, Twistbox operates a mobile ad network and suite of direct to consumer services that are
promoted through advertising, as well as from other mobile publishers. Payments for the Company&rsquo;s direct to consumer services
are processed through integration with the Company&rsquo;s own mobile billing solutions, third party mobile billing aggregators,
and credit card processing companies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s target
customers are the lucrative, tech-savvy 18 to 40 year old demographic. This group is a leading consumer group of new mobile handsets
and represents more than 50% of mobile content consumption revenue globally. In addition, this group is very focused on consumer
lifestyle brands and is much sought after by advertisers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2011, the
Company purchased the assets of Digital Turbine. With the acquisition and integration of the assets of Digital Turbine, the Company
will be able to provide an end-to-end, modular platform to the Company&rsquo;s existing carrier customers. The combined DT offering
allows new and existing customers to choose from a fully outsourced, smart mobile ecosystem to more efficient, modular components
that can be integrated with different operating systems to provide to the end user a more unified experience of mobile content
across search, discovery, billing, and delivery. Innovative aspects of the Digital Turbine platform include the ability for carriers
and OEMs to analyze and control the data presented to their end-users while giving them a more efficient way of finding and purchasing
content.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RESULTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Year&nbsp;ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Year&nbsp;ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">%&nbsp;of</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Change</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">(in thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%">Revenues</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,230</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,186</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-21</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,873</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,210</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-10</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gross profit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,357</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,976</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-27</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>SG&amp;A</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,040</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,368</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">41</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Amortization of intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Impairment of intangibles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,482</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-56</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Impairment of goodwill</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,969</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,546</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 1pt">75</TD><TD STYLE="text-align: left; padding-bottom: 1pt">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Operating loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,971</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,474</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">42</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Interest expense, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,497</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,761</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">610</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Foreign exchange transaction gain / (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(94</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(83</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Change in fair value of accrued derivative liabilities gain / (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,447</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loss on extinguishment of debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,004</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gain / (loss) on settlement of debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,393</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(864</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-261</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other income / (expenses)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">15</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-782</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Loss&nbsp;before income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30,597</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,184</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">111</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income tax provision</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(110</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(224</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-51</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Loss&nbsp;from continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30,707</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,408</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">109</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Profit from discontinued operations, net of taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">809</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Gain on disposal of discontinued operations, net of taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,215</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net (loss) income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(30,707</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(9,384</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">221</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Basic and Diluted net income / (loss) per common share:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.12in">Continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.62</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.38</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.12in">Discontinued operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.13</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.12in">Net loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.62</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.25</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">144</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Basic and Diluted weighted average shares outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49,418</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">37,664</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">31</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Comparison of the Year Ended March 31, 2012 and the Year
Ended March 31, 2011 &nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 45; Value: 3 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Revenues</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve Months Ended March 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">% of</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Change</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">(In thousands)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Revenues by type:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; padding-left: 9pt">Services</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,214</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,270</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-4</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Content - Games</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">434</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,107</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-61</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Content - Other</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,824</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,546</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-31</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; padding-left: 9pt">Advertising</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,758</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,263</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">39</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">7,230</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">9,186</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 2.5pt">-21</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Games revenue &ndash;
the decline in revenue largely reflects a strategic decision to curtail investment in development of new games for carrier sales,
along with the loss of on-deck placement with US carriers. In addition, we have wound down our development work on behalf of third
parties. This was partly offset by higher platform and services fees, particularly in Germany.&nbsp;&nbsp;&nbsp;Games revenue includes
both licensed and internally developed games for use on mobile phones.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The revenue decline
for Other Content is the result of multiple factors. Revenues were impacted by a very challenging European sales environment for
our carrier partners and consequently for us. This resulted in lower sales in major territories including the UK, Germany and Spain.
Revenues were also affected by the increase in the use of smart phones over feature phones, which hinder the carriers&rsquo; ability
to monetize content revenues effectively. Other content includes a broad range of licensed and internally developed products delivered
in the form of WAP, Video, Wallpaper and Mobile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Cost of Revenues</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve&nbsp;Months&nbsp;Ended&nbsp;March&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">%&nbsp;of</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Change</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: blue; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">(In thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Cost of revenues:</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left; padding-left: 9pt">License fees</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,643</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,915</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-9</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Other direct cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">230</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">295</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-22</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 2.5pt">Total cost of revenues</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">2,873</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">3,210</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 2.5pt">-10</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 0.25in; padding-bottom: 2.5pt">Revenues</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">7,230</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">9,186</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 2.5pt">-21</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 2.5pt">Gross margin</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">60.3</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">65.1</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">%</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">License fees represent
costs payable to content providers for use of their intellectual property in products sold. Our licensing agreements are predominantly
on a revenue-share basis, and have therefore decreased relative to the decrease in revenue. We experienced slightly higher fees
in the area of traffic and advertising costs that affected our sales mix, as well as our gross margin.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt"><B><I>Operating Expenses</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve&nbsp;Months&nbsp;Ended&nbsp;March&nbsp;31,</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">%&nbsp;of</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Change</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font-weight: bold; text-align: center">(In thousands)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left">Product development expenses</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,154</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,528</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">-39</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Sales and marketing expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">873</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,142</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-59</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">General and administrative expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,698</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Amortization of intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Impairment of intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,482</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-56</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Impairment of goodwill</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,969</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,546</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Product development
expenses include the costs to build, edit and optimize content formats for consumption on a mobile phone. Expenses in this area
are primarily driven by personnel costs. Due to strategic changes in the focus of the development business as well as the consolidation
of the device operating systems within the marketplace, our headcount has been reduced from period to period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sales and marketing
expenses represent the costs of sales and marketing personnel, and advertising and marketing campaigns. Selling costs, including
our headcount have been reduced from period to period in an effort to streamline the business. The decrease year-over-year is
the result of cost savings made by headcount reductions, as well as reduced travel and entertainment expenses, offset by relocation
costs relative to our UK operations from late fiscal year 2010 through most of fiscal year 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">General and administrative
expenses represent management and support personnel costs in each of the subsidiary companies and related expenses, as well as
professional and consulting costs, and other costs such as stock based compensation, rent, depreciation and bad debt expenses.
The increase during fiscal year 2012 is mostly due to an increase in stock compensation to management. Significant savings were
made during fiscal year 2011 mostly due to a decrease in stock compensation to management, but also through headcount reductions
and related overheads, as well as lower bad debt expense and legal fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Amortization of intangibles
represents amortization of the intangibles identified as part of the purchase price accounting related to both acquisitions and
attributed to operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Impairment
of goodwill and intangible assets represents the write down in value of goodwill and intangible assets associated with the acquisition
of Twistbox. The consideration in the Twistbox acquisition was entirely stock-based, and generated significant goodwill since
Twistbox was not a capital intensive company. Subsequent to the acquisition, the Company experienced a significant and continued
decline in the market value of its common stock, which resulted in the Company&rsquo;s market capitalization falling below its
net book value. The Company recorded an impairment charge in the value of goodwill and intangible assets in the third quarter
of fiscal year 2011 and the last quarter of fiscal year 2012. At December 31, 2010 the Company recorded an impairment charge of
$1,546,000 to write down goodwill and $4,482,000 to write down intangible assets. At March 31, 2012, due to a decline in revenues,
the Company performed an impairment review for goodwill and intangible assets. As a result of the assessment, the Company determined
that its net book value exceeded the implied fair value; therefore, the Company recorded an additional impairment charge of $2,969,000
to write down goodwill and $2,319,000 to write down intangibles assets. The intangible assets impaired were the valuation associated
with the Twistbox trademark/trade name.</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Other Income and&nbsp;Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve Months Ended March 31,</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">% of</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt">Change</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">(In thousands)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; text-align: left">Interest and other (expense)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(13,626</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(2,710</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">403</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Profit from discontinued operations, net of taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">809</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-100</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Gain on disposal of discontinued operations, net of taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4,215</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-100</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Interest and other
income/(expense) includes interest income on invested funds, interest expense related to the Senior Secured Note, the ValueAct
Note, the Taja Note, the Adage Note, financing costs including loan modification costs, changes in the fair market value of derivatives,
foreign exchange transaction gains, and other income/expense. The increase in net expense compared to the prior period is comprised
mostly of financing costs, loss on extinguishment of debt, and change in fair value of derivative liabilities offset by settlement
of debt with a provider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Financial Condition</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Assets</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our current
assets totaled $10.1 million and $3.8 million at March 31, 2012 and March 31, 2011, respectively. Total assets were $15.4
million and $14.2 million at March 31, 2012 and March 31, 2011, respectively. The increase in current assets is primarily due
to an increase in cash due to the sale of shares of the Company&rsquo;s common stock, and the sale of convertible debt offset
by lower accounts receivable balances due to a decrease in revenues. The increase in total assets is primarily due to the
increase in cash offset by the impairment charge recorded against goodwill and intangibles assets, as well as the lower
accounts receivable and depreciation of fixed assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Liabilities and
Working Capital</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At&nbsp;March 31, 2012,
our current and total liabilities were $9.1 million, compared to $11.6 million at March 31, 2011. The change in liabilities was
related to a significant reduction in accounts payable and accrued license fees due to settlements with certain suppliers, offset
by an increase in accrued compensation due to deferred payroll compensation and an increase in the fair market value of warrant
derivative liabilities. Additionally, debt was reduced due to the restructuring of the Value Act Note, and the equity conversion
of $1.8 million of that note. The Company had positive working capital of $4.1 million at March 31, 2012 as opposed to negative
working capital of $3.3 million at March 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Liquidity and Capital Resources</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Twelve Months Ended March 31,</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">(In thousands)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Consolidated Statement of Cash Flows Data:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left; padding-left: 9pt">Capital expenditures</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(17</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(88</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Cash flows used in operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,829</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,909</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Cash flows used in investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,547</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Proceeds from new convertible debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,000</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">Issuance of shares for cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,700 </TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Effect of exchange rate changes on cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2</TD><TD STYLE="text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has incurred
losses and negative annual cash flows since inception, although the operating loss increased from $11.5 million in fiscal year
2011 to $16.9 million as of March 31, 2012. A significant portion of the loss is represented by one-time non-cash charges to stock
compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The consolidated
financial statements included in this Annual Form 10-K include the accounts of the Company. The primary sources of liquidity
have historically been issuance of common and preferred stock and borrowings under credit facilities. In fiscal year 2012,
the Company raised $9.7 million through issuance of convertible debt and equity financings and through restructuring existing
debt to convertible debt. Until we become cash flow positive, we anticipate that our primary sources of liquidity will be our
existing cash balances together with cash generated by our operating activities, cash on hand, as well as further borrowings or
further capital raises. Assuming there are no further changes in expected sales and expense trends subsequent to March 31,
2012, the Company believes that its cash position will be sufficient to continue operations for the next twelve
months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Operating Activities</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the year ended
March 31, 2012, we used $1.8 million of net cash. Net cash used represents an increase in accounts payable and accrued compensation
of $0.8 million, decreases in accounts receivable and prepaid expense of $1.7 million, offset by decreases in accrued license
fees and other liabilities of $0.6 million. These changes flow from the loss for the period, but exclude impairment charge of
$5.2 million, depreciation and amortization of $0.4 million, as well as interest, finance charges, debt extinguishment and debt
discount costs of $10.7 million incurred to restructure liabilities, derivative liability costs of $4.4 million, and $7.5 million
for stock and warrants issued for services, offset by supplier settlements of $1.4 million. In the year ended March 31, 2011,
we used $1.0 million of net cash, including an increase in accounts payable and other liabilities of $1.3 million , flowing from
the loss excluding impairment charge of $6.0 million , offset by non-cash stock based compensation and depreciation and amortization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of March 31, 2012,
the Company had approximately $8.8 million of cash attributed to continuing operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
cash requirements in the future will be dependent on actions taken to improve cash flow, including operational restructuring.
We may require additional cash resources due to changed business conditions or other future developments, including any investments
or acquisitions we may decide to pursue. If cash resources are insufficient to satisfy our cash requirements, we may seek to sell
additional debt securities or additional equity securities or to obtain a credit facility. The sale of convertible debt securities
or additional equity securities could result in additional dilution to our stockholders. The incurrence of increased indebtedness
would result in additional debt service obligations and could result in additional operating and financial covenants that would
restrict our operations. In addition, there can be no assurance that any additional debt or equity financing will be available
on acceptable terms, if at all.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;Debt obligations
include interest payments under the Senior Debt facility, and also under the Amended Taja Note. Under the Senior Debt facility
the Company may elect to add interest to the principal, until 18 months following June 21, 2010, with the full amount of the principle
and interest payable at the end of the term. Under the Amended Taja Note the Company may elect to add interest to the principal.
The full amount is payable two years from March 1, 2012, if it has not already been converted into shares of common stock of the
Company. The Company&rsquo;s operating lease obligations include non-cancelable operating leases for the Company&rsquo;s office
facilities in several locations, expiring at various dates through 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Off-Balance Sheet
Arrangements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not have any
relationships with unconsolidated entities or financial partners, such as entities often referred to as structured finance or special
purpose entities, which would have been established for the purpose of facilitating off-balance sheet arrangements or other contractually
narrow or limited purposes. In addition, we do not have any undisclosed borrowings or debt, and we have not entered into any synthetic
leases. We believe, therefore, that we are not materially exposed to any financing, liquidity, market or credit risk that could
arise if we had engaged in such relationships.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Stock Sales and
Liquidity</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In April 2011, the
Company issued an aggregate of 497,244 shares of the Company&rsquo;s common stock in private placements (1) to two former employees
of a subsidiary of the Company as a severance payment, and (2) to a consultant for services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In April 2011, the
Company issued warrants to purchase 75,000 shares of the Company&rsquo;s common stock at an exercise price of $0.25 per share to
a service provider of the Company as payment for past services to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In May 2011, the Company
issued 150,000 shares of the Company&rsquo;s common stock to a service provider to the Company as payment for past services to
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2011, the Company
issued warrants to purchase an aggregate of 300,000 shares of the Company&rsquo;s common stock at an exercise price of $0.47 per
share to two advisory board members for consulting services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2011, the
Company issued 50,000 shares of the Company&rsquo;s common stock as part of the consideration for the assets of Digital Turbine
Group, LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2011, in
connection with the acquisition of assets from Digital Turbine Group, LLC, the Company issued 12,450,000 shares of the Company&rsquo;s
common stock to consultants as payment for services. The shares vest based on certain conditions. As of March 2012, 9,037,500 of
such shares have vested and 3,412,500 of such shares were unvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In December 2011, the
Company issued an aggregate of 10,000,000 shares of the Company&rsquo;s common stock with vesting conditions to directors of the
Company. As of March 2012, 3,000,000 of such shares have vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In January 2012, the
Company issued 300,000 shares of common stock of the Company to two advisory board members for consulting services. As of March
2012, 150,000 shares have vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In January 2012, the
Company issued 1,375,000 shares of common stock of the Company with vesting provisions to three employees. As of March 2012, 875,000
of such shares have vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company issued warrants to purchase 500,000 shares of the Company&rsquo;s common stock at an exercise price of $0.70 per share
to a service provider of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company issued 10,053,333 shares of common stock of the Company in full payment of principle and interest of the New Convertible
Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company issued 200,000 shares of common stock of the Company to two vendors for services. As of March 2012, 50,000 of such shares
have vested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company sold 3,857,143 shares of common stock of the Company to certain investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company issued to certain investors warrants to purchase 964,286 shares of common stock of the Company at an exercise price of
$0.70 cents per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company issued warrants to purchase 3,071,429 shares of common stock of the Company at an exercise price of $0.70 cents per share
related to modification of an existing note to convertible debt.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2012, the
Company issued 2,600,000 shares of common stock of the Company as payment of $1,820,000 of principle of a convertible note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In May 2012, the Company
issued 150,000 shares of common stock of the Company to an advisory board member for consulting services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In May&nbsp;2012, the
Company issued 433,333 shares of common stock of the Company to a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2012, the Company
issued 1,428,571 shares of common stock of the Company to certain investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In June 2012, the Company
issued warrants to purchase 357,143 shares of common stock of the Company at an exercise price of $0.70 cents per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Revenues</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The discussion herein
regarding our future operations pertain to the results and operations of Twistbox. Assets from the Digital Turbine acquisition
have yet to generate revenues due to the development cycle of the Digital Turbine products. The Company expects to begin earning
revenue from the Digital Turbine assets by the end of fiscal year ending March 31, 2013. Twistbox has historically generated and
expects to continue to generate the vast majority of its revenues from mobile phone carriers that market, distribute and/or bill
for its content. These carriers generally charge a one-time purchase fee or a monthly subscription fee on their subscribers&rsquo;
phone bills when the subscribers download Twistbox&rsquo;s content to their mobile phones. The carriers perform the billing and
collection functions and generally remit to Twistbox a contractual percentage of their collected fee for each transaction. Twistbox
recognizes as revenues the percentage of the fees due to it from the carrier. End users may also initiate the purchase of Twistbox&rsquo;s
content through other delivery mechanisms, with carriers or third parties being responsible for billing, collecting and remitting
to Twistbox a portion of their fees. To date, Twistbox&rsquo;s international revenues have been much more significant than its
domestic revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the
improving quality and greater availability of smartphones is in turn encouraging consumer awareness and demand for high quality
content on their mobile devices. At the same time, carriers and branded content owners are focusing on a small group of enablers
that have the ability to provide high-quality mobile content services consistently and cost-effectively with the ability to enable
mobile billing across a wide variety of handsets and countries. Additionally, publishers and content owners are seeking enablers
that have the ability to distribute content globally through relationships with most or all of the major carriers. We believe Twistbox
has created the requisite development, distribution and billing technology and has achieved the scale to operate at a level that
provides it with competitive advantages. We also believe that leveraging existing carrier and publisher relationships will allow
us to grow our revenues without corresponding percentage growth in our infrastructure and operating costs. Our revenue growth rate
will depend significantly on continued growth in the mobile content market, our ability to leverage our distribution and content
relationships, as well as our ability to continue to expand billing for content in new regional markets. Our ability to attain
profitability will be affected by the extent to which we must incur additional expenses to expand our sales, marketing, development,
and general and administrative capabilities to grow our business. The largest component of our expenses is personnel costs. Personnel
costs consist of salaries, benefits and incentive compensation, including bonuses and stock-based compensation, for our employees.
Our operating expenses should continue to grow in absolute dollars, assuming our revenues continue to grow. As a percentage of
revenues, we expect these expenses to decrease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because many new mobile
handset models are released in the fourth calendar quarter to coincide with the holiday shopping season, and because many end users
download our content soon after they purchase new handsets, we may experience seasonal sales increases based on this key holiday
selling period. However, due to the time between handset purchases and content purchases, much of this holiday impact may occur
in the March quarter end. For a variety of reasons, we may experience seasonal sales decreases during the summer, particularly
in Europe, which is predominantly reflected in our second fiscal quarter. In addition to these possible seasonal patterns, our
revenues may be impacted by declines in users visiting carrier portals, new or changed carrier deals, and by changes in the manner
that our major carrier partners marketing our content on their deck. Initial spikes in revenues as a result of successful launches
or campaigns may create further aberrations in our revenue patterns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Cost of Revenues</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox&rsquo;s cost
of revenues historically, and our cost of revenues going forward, consists primarily of royalties that we pay to content owners
from which we license brands and other intellectual property. In addition, certain other direct costs such as platform and third
party delivery charges are included in cost of revenues. Our cost of revenues also includes noncash expenses&mdash;amortization
of certain acquired intangible assets, and any impairment of guarantees. We generally do not pay advance royalties to licensors.
Where we acquire rights in perpetuity or for a specific time period without revenue share or additional fees, we record the payments
made to content owners as prepaid royalties on our balance sheet when payment is made to the licensor. We recognize royalties in
cost of revenues based upon the revenues derived from the relevant product sold multiplied by the applicable royalty rate. If applicable,
we will record an impairment of prepaid royalties or accrue for future guaranteed royalties that are in excess of anticipated recoupment.
At each balance sheet date, we perform a detailed review of prepaid royalties and guarantees that considers multiple factors, including
forecasted demand, anticipated share for specific content providers, development and launch plans, and current and anticipated
sales levels. We expense the costs for development of our content prior to technological feasibility as we incur them throughout
the development process, and we include these costs in product development expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;<B><I>Gross Margin</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our gross margin going
forward will be determined principally by the mix of content that we deliver, and the costs of distribution. Our games based on
licensed intellectual property require us to pay royalties to the licensor and the royalty rates in our licenses vary significantly.
Our own in-house developed games, which are based on our own intellectual property, require no royalty payments to licensors. For
late night business, branded content requires royalty payment to the licensors, generally on a revenue share basis, while for acquired
content we amortize the cost against revenues, and this will generally result in a lower cost associated with it. There are multiple
internal and external factors that affect the mix of revenues between games and late night content, and among licensed, developed
and acquired content within those categories, including the overall number of licensed games and developed games available for
sale during a particular period, the extent of our and our carriers&rsquo; marketing efforts for each type of content, and the
deck placement of content on our carriers&rsquo; mobile handsets. We believe the success of any individual game during a particular
period is affected by the recognizability of the title, its quality, its marketing and media exposure, its overall acceptance by
end users and the availability of competitive games. For other content, we believe that success is driven by the carrier&rsquo;s
deck placement, the rating of the content, by quality and by brand recognition. If our product mix shifts more to licensed games
or content with higher royalty rates, our gross margin would decline. For other content, as we increase scale, we believe that
we will have the opportunity to move the mix towards higher margin acquired product. Our gross margin is also affected by direct
costs such as platform and 3<SUP>rd</SUP> party delivery charges, and by periodic charges for impairment of intangible assets and
of prepaid royalties and guarantees. These charges can cause gross margin variations, particularly from quarter to quarter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Operating Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operating expenses
going forward will primarily include product development expenses, sales and marketing expenses and general and administrative
expenses. Our product development expenses consist primarily of salaries and benefits for employees working on creating, developing,
editing, programming, porting, quality assurance, carrier certification and deployment of our content, on technologies related
to interoperating with our various mobile phone carriers and on our internal platforms, payments to third parties for developing
our content, and allocated facilities costs. We devote substantial resources to the development, supporting technologies, porting
and quality assurance of our content. For acquired content, typically we will receive content from our licensors which must be
edited for use on mobile phones, combined with other appropriate content, and packaged for end-users. The process is made more
complex by the need to deliver content on multiple carriers&rsquo; platforms and across a large number of different handsets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Sales and Marketing</I></B>.&nbsp;&nbsp;&nbsp;Sales
and marketing expenses, historically, and our sales and marketing expenses going forward, will consist primarily of salaries, benefits
and incentive compensation for sales, business development, project management and marketing personnel, expenses for advertising,
trade shows, public relations and other promotional and marketing activities, expenses for general business development activities,
travel and entertainment expenses and allocated facilities costs. We expect sales and marketing expenses to increase in absolute
terms with the growth of our business and as we further promote our content and expand our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>General and Administrative</I>.</B>&nbsp;&nbsp;Our
general and administrative expenses, historically, and going forward, will consist primarily of salaries and benefits for general
and administrative personnel, consulting fees, legal, accounting and other professional fees, information technology costs and
allocated facilities costs. We expect that general and administrative expenses will increase in absolute terms as we hire additional
personnel and incur costs related to the anticipated growth of our business, capital raises and our operation as a public company.
We also expect that these expenses will increase because of the additional costs to comply with the Sarbanes-Oxley Act and related
regulation, our efforts to expand our operations and, in the near term, additional accounting costs related to our operation as
a public company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Amortization
of Intangible Assets</I>. </B>We will record amortization of acquired intangible assets that are directly related to revenue-generating
activities as part of our cost of revenues and amortization of the remaining acquired intangible assets, such as customer lists
and platform, as part of our operating expenses. We will record intangible assets on our balance sheet based upon their fair value
at the time they are acquired. We will determine the fair value of the intangible assets using a contribution approach. We will
amortize the amortizable intangible assets using the straight-line method over their estimated useful lives of three to five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Estimates and Assumptions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of
our financial statements in conformity with accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets
and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting
period. Actual results could differ from those estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Income Taxes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We provide for deferred
income taxes using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable
to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases
and the tax effect of net operating loss carry-forwards. A valuation allowance has been provided as it is more likely than not
that the deferred assets will not be realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Recent Accounting Pronouncements</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Adopted Accounting Pronouncements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In December 2010,
the FASB issued updated guidance on when and how to perform certain steps of the periodic goodwill impairment test for public entities
that may have reporting units with zero or negative carrying amounts. This guidance is effective for fiscal years, and interim
periods within those years, beginning after December 15, 2010, with early adoption prohibited. It is applicable to the Company&rsquo;s
fiscal year beginning April 1, 2011. The Company evaluated this guidance, and determined it doesn&rsquo;t have a material effect
on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In December 2010,
the FASB also issued guidance to clarify the reporting of pro forma financial information related to business combinations of public
entities and to expand certain supplemental pro forma disclosures. This guidance is effective prospectively for business combinations
that occur on or after the beginning of the fiscal year beginning on or after December 15, 2010, with early adoption permitted.
It is applicable to the Company&rsquo;s fiscal year beginning April 1, 2011. The Company evaluated this guidance, and determined
it doesn&rsquo;t have a material effect on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In May 2011, the FASB
issued guidance to amend certain measurement and disclosure requirements related to fair value measurements to improve consistency
with international reporting standards. This guidance is effective prospectively for public entities for interim and annual reporting
periods beginning after December 15, 2011, with early adoption by public entities prohibited, and is applicable to the Company&rsquo;s
fiscal quarter beginning January 1, 2012. The Company evaluated this guidance, and determined it doesn&rsquo;t have a material
effect on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"><FONT STYLE="color: black">In September 2011, the Financial
Accounting Standards Board (FASB) issued amended accounting guidance related to goodwill impairment testing. The new guidance provides
the option to perform a qualitative assessment by applying a more likely than not scenario to determine whether the fair value
of a reporting unit is less than its carrying amount, which may then allow a company to skip the annual two-step quantitative goodwill
impairment test depending on the determination. The amended guidance is effective for annual and interim goodwill impairment tests
performed for fiscal years beginning after December 15, 2011. Earlier adoption is permitted. Management does not expect the adoption
of the amended guidance to have a material impact on the Company&rsquo;s consolidated financial statements. The Company evaluated
this guidance, and determined it doesn&rsquo;t have a material effect on its consolidated financial statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Recently Issued Accounting Pronouncements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In June 2011, the
FASB issued new guidance on the presentation of comprehensive income that will require a company to present components of net income
and other comprehensive income in one continuous statement or in two separate, but consecutive statements. There are no changes
to the components that are recognized in net income or other comprehensive income under current GAAP. This guidance is effective
for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2011, with early adoption permitted.
It is applicable to the Company&rsquo;s fiscal year beginning April 1, 2012. The Company is currently evaluating this guidance,
but does not expect its adoption will have a material effect on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Other recent authoritative
guidance issued by the FASB (including technical corrections to the FASB Accounting Standards Codification), the American Institute
of Certified Public Accountants, and the Securities and Exchange Commission (&ldquo;SEC&rdquo;) did not, or are not expected to
have a material effect on the Company&rsquo;s consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B><I>Critical Accounting
Policies</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Basis of Presentation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The financial statements have been prepared
in accordance with accounting principles generally accepted in the United States of America (&ldquo;GAAP&rdquo;) and pursuant to
the rules and regulations of the Securities and Exchange Commission (&ldquo;SEC&rdquo;) for annual financial statements.&nbsp;&nbsp;The
financial statements, in the opinion of management, include all adjustments necessary for a fair statement of the results of operations,
financial position and cash flows for each period presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Principles of Consolidation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The consolidated financial statements include
the accounts of the Company and our wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated
in consolidation. Discontinued operations have been treated in accordance with Financial Accounting Standards Board (&ldquo;FASB&rdquo;)
Accounting Standards Codification (&ldquo;ASC&rdquo;)&nbsp;&nbsp;205-20, <I>Discontinued Operations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Revenue Recognition</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company&rsquo;s revenues are derived
primarily by licensing material and software in the form of products (Image Galleries, Wallpapers, video, WAP Site access, Mobile
TV), developing and maintaining carrier platforms, mobile advertising, mobile billing and mobile games. License arrangements with
the end user can be on a perpetual or subscription basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">A perpetual license gives an end user the
right to use the product, image or game on the registered handset on a perpetual basis. A subscription license gives an end user
the right to use the product, image or game on the registered handset for a limited period of time, ranging from a few days to
as long as one month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company either markets and distributes
its products directly to consumers, or distributes products through mobile telecommunications service providers (&ldquo;carriers&rdquo;),
in which case the carrier markets the product, images or games to end users. License fees for perpetual and subscription licenses
are usually billed upon download of the product, image or game by the end user. In the case of subscription licenses, many subscriber
agreements provide for automatic renewal until the subscriber opts-out, while others provide opt-in renewal. In either case, subsequent
billings for subscription licenses are generally billed monthly. The Company applies the provisions of FASB ASC 985-605, <I>Software
Revenue Recognition</I>, to all transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Revenues are recognized from the Company&rsquo;s
products, images and games when persuasive evidence of an arrangement exists, the product, image or game has been delivered, the
fee is fixed or determinable, and the collection of the resulting receivable is probable. For both perpetual and subscription licenses,
management considers a license agreement to be evidence of an arrangement with a carrier or aggregator and a &ldquo;clickwrap&rdquo;
agreement to be evidence of an arrangement with an end user. For these licenses, the Company defines delivery as the download of
the product, image or game by the end user.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company estimates revenues from carriers
in the current period when reasonable estimates of these amounts can be made. Most carriers only provide detailed sales transaction
data on a one to two month lag. Estimated revenue is treated as unbilled receivables until the detailed reporting is received and
the revenues can be billed. Some carriers provide reliable interim preliminary reporting and others report sales data within a
reasonable time frame following the end of each month, both of which allow the Company to make reasonable estimates of revenues
and therefore to recognize revenues during the reporting period when the end user licenses the product, image or game. Determination
of the appropriate amount of revenue recognized involves judgments and estimates that the Company believes are reasonable, but
it is possible that actual results may differ from the Company&rsquo;s estimates. The Company&rsquo;s estimates for revenues include
consideration of factors such as preliminary sales data, carrier-specific historical sales trends, volume of activity on company
monitored sites, seasonality, time elapsed from launch of services or product lines, the age of games and the expected impact of
newly launched games, successful introduction of newer and more advanced handsets, promotions during the period and economic trends.
When the Company receives the final carrier reports, to the extent not received within a reasonable time frame following the end
of each month, the Company records any differences between estimated revenues and actual revenues in the reporting period when
the Company determines the actual amounts. Revenues earned from certain carriers may not be reasonably estimated. If the Company
is unable to reasonably estimate the amount of revenues to be recognized in the current period, the Company recognizes revenues
upon the receipt of a carrier revenue report and when the Company&rsquo;s portion of licensed revenues are fixed or determinable
and collection is probable. To monitor the reliability of the Company&rsquo;s estimates, management, where possible, reviews the
revenues by country, by carrier and by product line on a regular basis to identify unusual trends such as differential adoption
rates by carriers or the introduction of new handsets. If the Company deems a carrier not to be creditworthy, the Company defers
all revenues from the arrangement until the Company receives payment and all other revenue recognition criteria have been met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In accordance with FASB ASC 605-45, <I>Reporting
Revenue Gross as a Principal Versus Net as an Agent</I>, the Company recognizes as revenues the amount the carrier reports as payable
upon the sale of the Company&rsquo;s products, images or games. The Company has evaluated its carrier agreements and has determined
that it is not the principal when selling its products, images or games through carriers. Key indicators that it evaluated to reach
this determination include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-family: Wingdings 2; text-align: justify">&mdash;</TD>
    <TD STYLE="width: 87%; text-align: justify">wireless subscribers directly contract with the carriers, which have most of the service interaction and are generally viewed as the primary obligor by the subscribers;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Wingdings 2; text-align: justify">&mdash;</TD>
    <TD STYLE="text-align: justify">carriers generally have significant control over the types of content that they offer to their subscribers;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Wingdings 2; text-align: justify">&mdash;</TD>
    <TD STYLE="text-align: justify">carriers are directly responsible for billing and collecting fees from their subscribers, including the resolution of billing disputes;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Wingdings 2; text-align: justify">&mdash;</TD>
    <TD STYLE="text-align: justify">carriers generally pay the Company a fixed percentage of their revenues or a fixed fee for each game;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Wingdings 2; text-align: justify">&mdash;</TD>
    <TD STYLE="text-align: justify">carriers generally must approve the price of the Company&rsquo;s content in advance of their sale to subscribers, and the Company&rsquo;s more significant carriers generally have the ability to set the ultimate price charged to their subscribers; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="font-family: Wingdings 2; text-align: justify">&mdash;</TD>
    <TD STYLE="text-align: justify">the Company has limited risks, including no inventory risk and limited credit risk.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">For direct to consumer business, revenue
is earned by delivering a product or service directly to the end user of that product or service. In those cases, the Company records
as revenue the amount billed to that end user and recognizes the revenue when persuasive evidence of an arrangement exists, the
product, image or game has been delivered, the fee is fixed or determinable, and the collection of the resulting receivable is
probable. Substantially all of our discontinued operations represents direct to consumer business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Net (Loss) per Common Share</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Basic loss per common share is computed
by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period.
Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number
of common shares outstanding for the period plus dilutive common stock equivalents, using the treasury stock method. Potentially
dilutive shares<B> </B>from stock options and warrants and the conversion of the Series A preferred stock were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Year Ended</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">Year Ended</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">March 31,</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center">March 31,</TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-weight: bold; text-align: center">2012</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold; text-align: justify">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="border-bottom: black 1pt solid; font-weight: bold; text-align: center">2011</TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 64%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="text-align: justify">Potentially dilutive shares</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">21,943</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: right">11,992</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Comprehensive Loss</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Comprehensive loss consists of two components,
net loss and other comprehensive income. Other comprehensive income refers to gains and losses that under generally accepted accounting
principles are recorded as an element of stockholders&rsquo; equity, but are excluded from net income. The Company&rsquo;s other
comprehensive income currently includes only foreign currency translation adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cash and Cash Equivalents</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company considers all highly liquid
short-term investments purchased with a maturity of three months or less to be cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Accounts Receivable</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company maintains reserves for potential
credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts,
customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate
the adequacy of these reserves.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Content Provider Licenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Content Provider License Fees</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company&rsquo;s royalty expenses consist
of fees that it pays to branded content owners for the use of their intellectual property in the development of the Company&rsquo;s
games and other content, and other expenses directly incurred in earning revenue. Royalty-based obligations are either, accrued
as incurred and subsequently paid, or in the case of content acquisitions, paid in advance and capitalized on our balance sheet
as prepaid license fees. These royalty-based obligations are expensed to cost of revenues either at the applicable contractual
rate related to that revenue or over the estimated life of the content acquired. Minimum guarantee license payments that are not
recoupable against future royalties are capitalized and amortized over the lesser of the estimated life of the branded title or
the term of the license agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Content Acquired</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Amounts paid to third party content providers
as part of an agreement to make content available to the Company for a term or in perpetuity, without a revenue share, have been
capitalized and are included in the balance sheet as prepaid expenses. These balances will be expensed over the estimated life
of the content acquired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Software Development Costs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company applies the principles of FASB
ASC 985-20, <I>Accounting for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed </I>(&ldquo;ASC 985-20&rdquo;).
ASC 985-20 requires that software development costs incurred in conjunction with product development be charged to research and
development expense until technological feasibility is established. Thereafter, until the product is released for sale, software
development costs must be capitalized and reported at the lower of unamortized cost or net realizable value of the related product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company has adopted the &ldquo;tested
working model&rdquo; approach to establishing technological feasibility for its products and games. Under this approach, the Company
does not consider a product or game in development to have passed the technological feasibility milestone until the Company has
completed a model of the product or game that contains essentially all the functionality and features of the final game and has
tested the model to ensure that it works as expected. To date, the Company has not incurred significant costs between the establishment
of technological feasibility and the release of a product or game for sale; thus, the Company has expensed all software development
costs as incurred. The Company considers the following factors in determining whether costs can be capitalized: the emerging nature
of the mobile market; the gradual evolution of the wireless carrier platforms and mobile phones for which it develops products
and games; the lack of pre-orders or sales history for its products and games; the uncertainty regarding a product&rsquo;s or game&rsquo;s
revenue-generating potential; its lack of control over the carrier distribution channel resulting in uncertainty as to when, if
ever, a product or game will be available for sale; and its historical practice of canceling products and games at any stage of
the development process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Product Development Costs</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company charges costs related to research,
design and development of products to product development expense as incurred. The types of costs included in product development
expenses include salaries, contractor fees and allocated facilities costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Advertising Expenses</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company expenses the costs of advertising,
including direct response advertising, the first time the advertising takes place. Advertising expense for continuing operations
was $7 and $116 in the years ended March 31, 2012 and 2011, respectively. Advertising expense for discontinued operations was $0
and $956 in the years ended March 31, 2012 and 2011, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Restructuring</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company accounts for costs associated
with employee terminations and other exit activities in accordance with FASB ASC 420-10<I>, Accounting for Costs Associated with
Exit or Disposal Activities</I>. The Company records employee termination benefits as an operating expense when it communicates
the benefit arrangement to the employee and it requires no significant future services, other than a minimum retention period,
from the employee to earn the termination benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Presentation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In order to facilitate the comparison of
financial information, certain amounts reported in the prior year have been reclassified to conform to the current year presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Fair Value of Financial Instruments</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">As of March 31, 2012 and 2011, the carrying
value of cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued license
fees, accrued compensation, derivative liabilities and other current liabilities approximates fair value due to the short-term
nature of such instruments. The carrying value of long-term debt approximates fair value as the related interest rates approximate
rates currently available to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Derivative Liabilities</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company applies ASC Topic 815, &ldquo;Derivatives
and Hedging,&rdquo; which provides a two-step model to determine whether a financial instrument or an embedded feature is indexed
to an issuer&rsquo;s own stock and thus able to qualify for the scope exception in ASC 815-10-15-74. Using the criteria in ASC
815, the Company determines which instruments or embedded features that require liability accounting and records the fair values
as a derivative liability. The changes in the values of the derivative liabilities are shown in the accompanying consolidated statements
of operations as &ldquo;change in fair value of accrued derivative liabilities gain / (loss).&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Foreign Currency Translation</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company uses the United States dollar
for financial reporting purposes.&nbsp;&nbsp;Assets and liabilities of foreign operations are translated using current rates of
exchange prevailing at the balance sheet date. Equity accounts have been translated at their historical exchange rates when the
capital transaction occurred.&nbsp;&nbsp;Statement of Operations amounts are translated at average rates in effect for the reporting
period. The foreign currency translation adjustment gains of $97 in the year ended March 31, 2012 and $128 in the year ended March
31, 2011 has been reported as a component of comprehensive loss in the consolidated statements of stockholders&rsquo; equity and
comprehensive income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Concentrations of Credit Risk</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Financial instruments which potentially
subject us to concentration of credit risk consist principally of cash and cash equivalents, and accounts receivable. We have placed
cash and cash equivalents with a single high credit-quality institution. Most of our sales are made directly to large national
Mobile Phone Operators in the countries that we operate. We have a significant level of business and resulting significant accounts
receivable balance with one operator and therefore have a high concentration of credit risk with that operator. We perform ongoing
credit evaluations of our customers and maintain an allowance for potential credit losses. As of March 31, 2012, one major customer
represented approximately 39% of our gross accounts receivable outstanding, and 43% of gross accounts receivable outstanding as
of March 31, 2011. This customer accounted for 41% of our gross revenues in the year ended March 31, 2012; and 49% in the year
ended March 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Property and Equipment</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Property and equipment is stated at cost.&nbsp;&nbsp;Depreciation
and amortization is calculated using the straight-line method over the estimated useful lives of the related assets. Estimated
useful lives are the lesser of 8 to 10 years or the term of the lease for leasehold improvements and 5 years for other assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Goodwill and Indefinite Life Intangible
Assets</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Goodwill represents the excess of cost
over fair value of net assets of businesses acquired. In accordance with FASB ASC 350-20 <I>Goodwill and Other Intangible Assets</I>,
the value assigned to goodwill and indefinite lived intangible assets, including trademarks and tradenames, is not amortized to
expense, but rather they are evaluated at least on an annual basis to determine if there are potential impairments. If the fair
value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the implied fair
value of the reporting unit goodwill is less than the carrying value. If the fair value of an indefinite lived intangible (such
as trademarks and trade names) is less than its carrying amount, an impairment loss is recorded. Fair value is determined based
on discounted cash flows, market multiples or appraised values, as appropriate. Discounted cash flow analysis requires assumptions
about the timing and amount of future cash inflows and outflows, risk, the cost of capital, and terminal values. Each of these
factors can significantly affect the value of the intangible asset. The estimates of future cash flows, based on reasonable and
supportable assumptions and projections, require management&rsquo;s judgment. Any changes in key assumptions about the Company&rsquo;s
businesses and their prospects, or changes in market conditions, could result in an impairment charge. Some of the more significant
estimates and assumptions inherent in the intangible asset valuation process include: the timing and amount of projected future
cash flows; the discount rate selected to measure the risks inherent in the future cash flows; and the assessment of the asset&rsquo;s
life cycle and the competitive trends impacting the asset, including consideration of any technical, legal or regulatory trends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In the year ended March 31, 2012, the Company
determined that there was an impairment of goodwill, amounting to $2,969.&nbsp;&nbsp;In the year ended March 31, 2011, the Company
determined that there was an impairment of goodwill, amounting to $1,546. In performing the related valuation analysis, the Company
used various valuation methodologies including probability weighted discounted cash flows, comparable transaction analysis, and
market capitalization and comparable company multiple comparison. The impairment is detailed in Note 9 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Impairment of Long-Lived Assets and
Finite Life Intangibles</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Long-lived assets, including, intangible
assets subject to amortization primarily consist of customer lists, license agreements and software that have been acquired are
amortized using the straight-line method over their useful&nbsp;life ranging from five to eight years and are reviewed for impairment
in accordance with FASB ASC 360-10, <I>Accounting for the Impairment or Disposal of Long-Lived Assets</I>, whenever events or changes
in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and
used is measured by a comparison of the carrying amount of an asset to future undiscounted net cash flows expected to be generated
by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which
the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the
carrying amount or fair value less costs to sell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">In the year ended March 31, 2012, the Company
determined that there was an impairment of intangible assets amounting to $2,319. In the year ended March 31, 2011, the Company
determined that there was an impairment of intangible assets, amounting to $4,482. In performing the related valuation analysis
the Company used various valuation methodologies including probability weighted discounted cash flows, comparable transaction analysis,
and market capitalization and comparable company multiple comparison. The impairment is detailed in Note 9 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Income Taxes</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company accounts for income taxes in
accordance with FASB ASC 740-10, <I>Accounting for Income Taxes </I>(&ldquo;ASC 740-10&rdquo;), which requires recognition of deferred
tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements
or tax returns. Under ASC 740-10, the Company determines deferred tax assets and liabilities for temporary differences between
the financial reporting basis and the tax basis of assets and liabilities along with net operating losses, if it is more likely
than not the tax benefits will be realized using the enacted tax rates in effect for the year in which it expects the differences
to reverse.&nbsp;&nbsp;To the extent a deferred tax asset cannot be recognized, a valuation allowance is established if necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">ASC 740-10 prescribes that a company should
use a more-likely-than-not recognition threshold based on the technical merits of the tax position taken. Tax positions that meet
the &ldquo;more-likely-than-not&rdquo; recognition threshold should be measured as the largest amount of the tax benefits, determined
on a cumulative probability basis, which is more likely than not to be realized upon ultimate settlement in the financial statements.
We recognize interest and penalties related to income tax matters as a component of the provision for income taxes. We do not currently
anticipate that the total amount of unrecognized tax benefits will significantly change within the next 12&nbsp;months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Stock-based compensation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">We have applied FASB ASC 718 <I>Share-Based
Payment</I> (&ldquo;ASC 718&rdquo;) and accordingly, we record stock-based compensation expense for all of our stock-based awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">Under ASC 718, we estimate the fair value
of stock options granted using the Black-Scholes option pricing model. The fair value for awards that are expected to vest is then
amortized on a straight-line basis over the requisite service period of the award, which is generally the option vesting term.
The amount of expense recognized represents the expense associated with the stock options we expect to ultimately vest based upon
an estimated rate of forfeitures; this rate of forfeitures is updated as necessary and any adjustments needed to recognize the
fair value of options that actually vest or are forfeited are recorded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Black-Scholes option pricing model,
used to estimate the fair value of an award, requires the input of subjective assumptions, including the expected volatility of
our common stock, interest rates, dividend rates and an option&rsquo;s expected life. As a result, the financial statements include
amounts that are based upon our best estimates and judgments relating to the expenses recognized for stock-based compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company grants restricted stock subject
to market or performance conditions that vest based on the satisfaction of the conditions of the award. Unvested restricted stock
entitles the grantees to dividends, if any, with voting rights determined in each agreement. The fair market values of market condition-based
awards are determined using the Monte Carlo simulation method. The Monte Carlo simulation method is subject to variability as several
factors utilized must be estimated, including the derived service period, which is estimated based on the Company&rsquo;s judgment
of likely future performance and the Company&rsquo;s stock price volatility. The fair value of performance-based awards is determined
using the market closing price on the grant date. Derived service periods and the periods charged with compensation expense for
performance-based awards are estimated based on the Company&rsquo;s judgment of likely future performance and may be adjusted in
future periods depending on actual performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Preferred Stock</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The Company applies the guidance enumerated
in FASB ASC&nbsp;480-10, <I>Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity </I>(&ldquo;ASC
480-10&rdquo;) when determining the classification and measurement of preferred stock. Preferred shares subject to mandatory redemption
(if any) are classified as liability instruments and are measured at fair value in accordance with ASC 480-10. All other issuances
of preferred stock are subject to the classification and measurement principles of ASC 480-10. Accordingly, the Company classifies
conditionally redeemable preferred shares (if any), which includes preferred shares that feature redemption rights that are either
within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company&rsquo;s
control, as temporary equity. At all other times, the Company classifies its preferred shares in stockholders&rsquo; equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Use of Estimates</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The preparation of financial statements
in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosures of contingent asset and liabilities at the date of the financial statements
and reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. The most significant
estimates relate to revenues for periods not yet reported by Carriers, liabilities recorded for future minimum guarantee payments
under content licenses, accounts receivable allowances, and stock-based compensation expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 7A. QUANTITATIVE AND QUALITATIVE
DISCLOSURES ABOUT MARKET RISK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Not applicable as we
are a smaller reporting company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The financial statements
required by Item 8 are submitted in a separate section of this report, beginning on Page F-1, and are incorporated herein and made
apart hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
ACCOUNTING AND FINANCIAL DISCLOSURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 9A. CONTROLS AND PROCEDURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Evaluation of Disclosure Controls and Procedures</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We maintain disclosure
controls and procedures that are designed to ensure that information that we are required to file or submit under the Exchange
Act is recorded, processed, summarized and reported, within the time periods specified in the SEC&rsquo;s rules and forms. Disclosure
controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be
disclosed is accumulated and communicated to our management, including our principal executive and principal financial officers,
as appropriate to allow timely decisions regarding required disclosure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our principal executive
officer and principal financial officer, after evaluating the effectiveness of our disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this Annual Report on Form 10-K, have concluded
that, based on such evaluation, our disclosure controls and procedures were ineffective as of March 31, 2012 because of the material
weaknesses described below.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Management&rsquo;s Report on Internal Control Over Financial
Reporting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management is responsible
for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f)
under the Exchange Act. Our internal controls over financial reporting are designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally
accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Because of inherent
limitations, internal control over financial reporting may not prevent or detect misstatements. In addition, projections of any
evaluation of effectiveness to future periods are subject to risk that controls may become inadequate because of changes in conditions,
or that the degree of compliance with the policies or procedures may deteriorate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management assessed
the effectiveness of our internal controls over financial reporting as of March 31, 2012 based on the framework in <I>Internal
Control-Integrated Framework</I> , published by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).&nbsp;
Based on our assessment, we have concluded that our internal controls over financial reporting were not effective as of March 31,
2012 because of the material weaknesses identified below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A material weakness
is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a more than
remote likelihood that a material misstatement of the company&rsquo;s annual or interim financial statements will not be prevented
or detected on a timely basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During management&rsquo;s
annual review of our internal control over financial reporting, we determined the following processes contain material weaknesses
as of March 31, 2012:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Maintenance of Corporate Records and Contracts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Management did not
maintain sufficient records of signed and approved records, contracts and board minutes. Board minutes were not always prepared
and approved on a timely basis and signed and executed versions were not readily available.&nbsp; Additionally, management does
not have a policy in place to track board minutes to ensure completeness that all board minutes have been prepared.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Management also did
not maintain a systematic process for managing and controlling contracts such as corporate governance, financing and employee agreements,
signed and executed stock option agreements and amendments, to ensure they are authorized timely and that the financial statement
effect is properly recognized in the general ledger.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #1F497D"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Financial Close and Reporting Process</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company significantly
reduced the number of post-closing journal entries from the previous year. However, the lack of secondary review of key accounting
and financial reporting functions results in a risk in that material accounting errors may not be detected timely. The accounting
close and financial reporting process is the responsibility of one individual without sufficient backup for review of accounting
functions such as preparation of journal entries and account reconciliations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Management does not
believe that any of our annual or interim financial statements issued to-date contain a material misstatement as a result of the
aforementioned weaknesses in our internal controls.&nbsp;&nbsp;However, these material weaknesses related to the entity as a whole
affect all of our significant accounts and could result in a material misstatement to our annual or interim consolidated financial
statements that would not be prevented or detected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management is in
the process of identifying the steps necessary to address the material weaknesses existing as of March 31, 2012 described above,
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Recruiting a Chief Financial Officer that will oversee that accounting and financial reporting processes</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Engaged a financial consultant that serves as a liaison between the Board, Senior Management and the Accounting Organization</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Hiring additional accounting personnel with adequate experience, skills and knowledge to assist in the closing of our financial
statements and further segregate duties of financial personnel;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD>Documenting, to standards established by senior accounting personnel and the principal accounting officer, the review and analysis
and related conclusions with respect to complex, non-routine transactions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">5.</TD><TD>Creating policy and guidelines to streamline the corporate reporting process as well as managing non-routine transactions</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">These remediation efforts are expected be
implemented during the fiscal year ending March 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This annual report
does not include an attestation report of our registered public accounting firm regarding internal control over financial reporting.
Management&rsquo;s report was not subject to attestation by the Company&rsquo;s registered public accounting firm pursuant to rules
of the SEC that permit the Company to provide only management&rsquo;s report in this annual report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Changes in Internal Controls over Financial Reporting</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There were no changes
in our internal controls over financial reporting or in other factors identified in connection with the evaluation required by
Exchange Act Rules 13a-15(d) or 15d-15(d) that occurred during the fiscal period ended March 31, 2012 that have materially affected,
or are reasonably likely to materially affect, our internal controls over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<FONT STYLE="font-size: 10pt"><B>ITEM 9B. OTHER INFORMATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">None. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth the names,
ages and positions of our directors and executive officers as of&nbsp;June 15, 2012. Each director serves until removed or resigns,
or a successor is elected. Officers serve at the discretion of the Board and subject to any employment agreements as set forth
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 21%">Name</TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 4%; text-align: center">Age</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 71%">Position(s)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Peter Adderton</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">45</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer and Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Lisa Higgins-Lucero</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">46</TD>
    <TD>&nbsp;</TD>
    <TD>Principal Financial Officer and CFO of Twistbox Entertainment Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Peter Guber</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">70</TD>
    <TD>&nbsp;</TD>
    <TD>Chairman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Robert S. Ellin</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">47</TD>
    <TD>&nbsp;</TD>
    <TD>Executive Chairman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Paul Schaeffer</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">65</TD>
    <TD>&nbsp;</TD>
    <TD>Co-Chairman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold">Chris Rogers</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">54</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Biographical information for our directors
and executive officers are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Peter Adderton.
&nbsp;</B> Peter Adderton has served as our Chief Executive Officer and as a Director on the Board since December 2011. Mr. Adderton
founded Boost Mobile in 2000 and remains a Director and the largest shareholder of Boost Mobile Australia. Boost Mobile USA is
one of the fastest growing mobile brands in its category with annual revenues over $1 billion and over five million subscribers.
Boost Mobile USA was purchased by Nextel in 2004, and remains a wholly-owned subsidiary of Sprint Nextel. In 2005 Mr. Adderton
also founded Amp'd Mobile, creating the first integrated mobile entertainment company targeted for youth, young professionals and
early adopters. Amp&rsquo;d Mobile filed for Chapter 11 bankruptcy in 2007.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Lisa Higgins-Lucero.<FONT STYLE="font-weight: normal">
Lisa Higgins-Lucero is the Chief Financial Officer of Twistbox Entertainment, Inc. Mrs. Higgins-Lucero joined Twistbox Entertainment
Inc. in August 2007. She is responsible for all financial reporting and for the strategic planning and reporting of the Company's
operations. She works closely with all areas of the business to insure profitability and success for each of the Company's vertical
revenue strategies. Her prior experience is with publicly traded manufacturing and engineering companies, including 12 years with
Odetics, Inc., (now Iteris, Inc. NYSE Amex: ITI). </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Peter
Guber</B>.&nbsp;&nbsp;Mr. Guber has served as Co-Chairman of our Board of Directors from August 2007 and currently serves as
a Chairman of the Board.&nbsp; Mr. Guber is Chairman and CEO of the multimedia Mandalay Entertainment Group. Prior to
Mandalay, Mr. Guber was Chairman and CEO of Sony Pictures Entertainment, Chairman and CEO of Polygram Entertainment,
Co-Founder of Casablanca Record &amp; Filmworks and President of Columbia Pictures. Mr. Guber produced or executive produced
(personally or through his companies) films that garnered five Best Picture Academy Award nominations (winning for Rain Man)
and box office hits that include The Color Purple, Midnight Express, Batman, Flashdance and The Kids Are All Right. Mr.Guber
is the Owner and Co-executive Chairman of the NBA franchise, the Golden State Warriors. He is as a weekly entertainment and
media analyst for Fox Business News and a full professor at UCLA. Mr. Guber serves on the board of directors of Demand Media,
an online media publishing company (NYSE: DMD), and is Co-Founder of Geek Chic Daily, a daily email newsletter with inside
information on technology &amp; apps, video games, comics, TV &amp; film. Mr. Guber is a noted author with works including
&ldquo;Inside The Deep&rdquo; and &ldquo;Shootout: Surviving Fame and (Mis)Fortune in Hollywood.&rdquo; Mr. Guber wrote the
cover article for the Harvard Business Review titled, &ldquo;The Four Truths of the Storyteller&rdquo; and has also authored
op-ed pieces for the New York Times and the San Francisco Chronicle. Mr. Guber recently released his third book, &ldquo;Tell
To Win - Connect, Persuade, and Triumph with the Hidden Power of Story&rdquo;, which became a #1 New York Times
bestseller.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Robert S.
Ellin.</B> &nbsp;&nbsp;&nbsp;In December 2011, Mr. Ellin was appointed Executive Chairman of the Board of Directors. Prior to
that, Mr. Ellin served as Co-Chairman of our Board of Directors since 2005. Mr. Ellin has more than twenty years of
investment and turnaround experience. Since 2004, he has served as Managing Director and Portfolio Manager of Trinad Capital,
an activist hedge fund investing primarily in micro-cap and small-cap publicly traded companies. Prior to founding Trinad,
Mr. Ellin was Founder and President of Atlantis Equities Inc., a private investment company. Founded in 1990, Atlantis
actively managed an investment portfolio of small capitalization public companies, as well as select private company
investments. Mr. Ellin played an active role in its investee companies including board representation, management selection,
corporate finance and other advisory services. He spearheaded world-class investments in ThQ, Inc. (THQI), Grand Toys (GRIN),
Forward Industries, Inc. (FORD), Majesco Entertainment (COOL), and iWon.com. Mr. Ellin also acquired S&amp;S Industries, Inc.
the largest manufacturer in the world of underwires which had strong partnerships with leading companies including
Bally&rsquo;s, Maidenform, and Sara Lee. Prior to Atlantis, he worked in Institutional Sales at LF Rothschild and was Manager
of Retail Operations at Lombard Securities. Mr. Ellin is the Chief Executive Officer, Chief Financial Officer, Chairman of the Board of Directors
and holds certain other positions of Loton Corporation (LTNR.QB), a company specializing in 3D rendering, animation and architectural
visualization services. Mr. Ellin is also a director of Infosearch Media, Inc. (ISHM.PK), a provider of search-targeted text and
video content for the Internet. Mr. Ellin currently also sits on the Board of Directors of Atrinsic, Inc. (ATRN),
as well as the Board of Governors at Cedars-Sinai Hospital in Los Angeles, California. Mr. Ellin holds a Bachelor of
Arts degree from Pace University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Paul
Schaeffer.&nbsp;&nbsp;</B> Mr.&nbsp;Schaeffer is a member of our Board of Directors and served as Vice-Chairman or
Co-Chairman on our Board of Directors since August 2007.&nbsp; He&nbsp;is the Vice Chairman, Chief Operating
Officer and Co-Founder of Mandalay Entertainment Group. Along with Peter Guber, Mr. Schaeffer is responsible for all aspects
of the motion picture and television business, focusing primarily on the corporate and business operations of those entities.
Prior to forming Mandalay Entertainment, Mr. Schaeffer was the Executive-Vice President of Sony Pictures
Entertainment (&ldquo;SPE&rdquo;), overseeing the worldwide corporate operations for SPE including Worldwide Administration,
Financial Affairs, Human Resources, Corporate Affairs, Legal Affairs and Corporate Communications. Mr. Schaeffer is a member
of the Academy of Motion Pictures, Arts, &amp; Sciences. A veteran of 20 years of private law practice, Mr. Schaeffer joined
SPE from Armstrong, Hirsch and Levine, where he was a senior partner working with corporate entertainment clients. He spent
time as an accountant with Arthur Young &amp; Company in Philadelphia. He graduated from the University of Pennsylvania
Law School and received his accounting degree from Pennsylvania State University. The Company considered Mr. Schaeffer to be
a valuable resource when it selected him as a director based on having served for more than 5 years as the Chairman of
the Finance Committee, and a member of the Board of Trustees of Childrens Hospital Los Angeles, where he also served as
a chairman of its Audit Committee, and member of its Compensation Committee and Executive Committee for more than
five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Chris Rogers. </B>Mr.
Rogers has been a member of our Board of Directors since May 2012. Mr. Rogers served as a Senior Vice President, Corporate Development
and Spectrum, of Sprint Nextel Corporation, where he evaluated and executed strategic initiatives, including mergers, acquisitions,
divestitures, equity investments and joint ventures within the mobile communication and e-commerce sectors. He also was responsible
for management and oversight of wireless spectrum licenses and Sprint Nextel&rsquo;s investment portfolio of emerging technology
start-ups. Prior to its merger with Sprint in 2005, Mr. Rogers was Co-Founder and Senior Vice President of Nextel Communications,
Inc. as well as Co-Founder of FleetCall Communications, the predecessor to Nextel Communications, and Founder and Chairman of Dispatch
Communications, Inc., which was sold to Fleet Call/Nextel in 1993. Rogers holds a JD in Communications Law and has served as a
Director on multiple public and private company Boards and as a Director for several Washington, DC-based philanthropic organizations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Except as noted below,
none of our directors has, during the past ten years, been involved in any legal proceedings described in subparagraph (f) of Item
401 of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Audit Committee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our audit committee
was established during the fiscal year ended March 31, 2010 and consists of Paul Schaeffer and Robert Ellin. Mr. Schaeffer has
been designated as the Chairman of the committee and the financial expert within the rules and regulations of the SEC. The committee
met regularly during the course of the year, including regular meetings with our auditors, and monitors our compliance with our
obligations under the assessment of internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nominating Committee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The entire Board of
Directors currently operates as our Nominating Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Code of Ethics</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We intend to establish a code of ethics
during the fiscal year ended March 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Section 16 Beneficial Ownership Reporting Compliance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 16(a) of the
Exchange Act requires our officers, directors, and persons owning more than ten percent of a registered class of our equity securities
(&ldquo;ten percent stockholders&rdquo;) to file reports of ownership and changes of ownership with the SEC. To the best of our
knowledge, based solely on review of the copies of such reports and amendments thereto furnished to us, we believe that during
the fiscal year ended March 31, 2012, all Section 16(a) filing requirements applicable to our officers, directors, and ten percent
stockholders were met except for the following: (i) one Form 4 report was not timely filed by Peter Adderton with respect to two
transactions; (ii) one Form 3 report was not timely filed by Peter Adderton with respect to one transaction; (iii) one Form 4 report
was not timely filed by Lisa Higgins-Lucero with respect to one transaction; (iv) one Form 3 report was not timely filed by Lisa
Higgins-Lucero with respect to two transactions, (v) one Form 3 report and one Form 4 report was not timely filed by Chris Rogers
with respect to one transaction, and (v) one Form 4 report was not filed by Robert Ellin with respect to three transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 11. EXECUTIVE COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUMMARY COMPENSATION TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets
forth information concerning the total compensation paid during our fiscal year ended March 31, 2011, and our fiscal year
ended March 31, 2012, for (i) our Chief Executive Officer, (ii) our other three most highly compensated executive officers
who were serving as executive officers as of March 31, 2012, and (iii) two additional individuals who are former executive
officers but were not serving as an executive officer at the end of the fiscal year ended March 31, 2012 (collectively,
our &ldquo;named executive officers&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Position</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fiscal <BR>Year <BR>Ended</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Salary <BR>($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Bonus <BR>($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Stock&nbsp;(1) <BR>($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Option&nbsp;(1)<BR>($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">All&nbsp;Other<BR>($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total <BR>($)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; width: 25%">Peter Adderton (2)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: center">March 31, 201<FONT STYLE="color: black">2</FONT></TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">112,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">125,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">2,025,504</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">26,741</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">2,289,745</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">Chief Executive Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, <FONT STYLE="color: black">2011</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,751</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,751</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Robert Ellin (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, 201<FONT STYLE="color: black">2</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">112,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,110,515</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,243,015</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">Executive Chairman</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, <FONT STYLE="color: black">2011</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">360,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">360,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Lisa Higgins-Lucero (4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, 201<FONT STYLE="color: black">2</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">34,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">162,475</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,999</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">327,474</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">Principal Financial Officer and CFO of Twistbox Entertainment Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, <FONT STYLE="color: black">2011</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">120,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">David Mandell (5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, 201<FONT STYLE="color: black">2</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">253,828</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">24,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">243,713</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,991</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">541,532</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">Former Executive Vice President and General Counsel</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, <FONT STYLE="color: black">2011</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">332,600</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49,916</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16,251</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">398,767</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">James Lefkowitz (6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, 201<FONT STYLE="color: black">2</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">17,773</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">67,773</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">Former Chief Operating Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, <FONT STYLE="color: black">2011</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">226,403</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,137</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28,856</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">281,396</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Ray Schaaf (7)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, 201<FONT STYLE="color: black">2</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,950</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,950</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-style: italic; text-align: left">Former President and Chief Executive Officer</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">March 31, <FONT STYLE="color: black">2011</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">285,960</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">125,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">30,268</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">516,228</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">The amounts in the &ldquo;Stock&rdquo; column reflect the aggregate grant date fair value of
                                                                 each restricted stock award computed in accordance with FASB ASC Topic 718. Under ASC 718, for Messer&rsquo;s. Adderton and
                                                                 Ellin we estimated the fair value of the restricted stock granted using the Monte Carlo pricing method model that values the
                                                                 restricted stock awards using various random hypothecations of stock price; securities issuances for services; securities
                                                                 issuances for capital raises and acquisitions. The primary assumptions used in this analysis are: Stock price ($0.61 as of
                                                                 December 28, 2011) is projected to fluctuate based on a future annual volatility of 100%; Average monthly stock issuances for
                                                                 services is projected at 100,000 shares with a standard deviation of 50,000 shares; Average monthly stock issuances for
                                                                 capital is projected at 200,000 shares with a standard deviation of 100,000 shares; Average monthly stock issuances for
                                                                 acquisitions is projected at 200,000 with a standard deviation of 100,000 shares; Acquisition share issuances were not
                                                                 assumed for the first 3 months; Market cap hurdles of $100 million and $200 million are based on maintaining those levels for
                                                                 30 trading days; Dilutive share analysis included warrants, options, restricted stock grants and convertible debt with only
                                                                 fixed price conversion and exercise prices; and restricted stock discount of 36.1%, risk-free rate of 0.1% and dividend yield
                                                                 of 0%. Forfeiture rate was assumed to be 0% due to the lack of any service requirement related to these awards.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">For the amounts for other recipients
in the &ldquo;Stock&rdquo; and &ldquo;Options&rdquo; columns were also computed under ASC 718. We estimated the fair value of restricted
stock and stock options granted using the Black-Scholes pricing model. The fair value for awards that are expected to vest is then
amortized on a straight-line basis over the requisite service period of the award, which is generally the vesting term. The amount
of expense recognized represents the expense associated with the restricted stock or stock options we expect to ultimately vest
based upon an estimated rate of forfeitures; this rate of forfeitures is updated as necessary and any adjustments needed to recognize
the fair value of restricted stock or options that actually vest or are forfeited are recorded. Vesting schedules for unvested
stock grants or option grants for each officer are described below under &ldquo;Narrative Disclosure to Summary Compensation Table&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">Mr. Adderton was appointed as our Chief Executive Officer on December 28, 2011 following a period
of service as our interim Chief Executive Officer that began on July 15, 2011. Mr. Adderton was previously serving as an advisor
to us and received a warrant to purchase 150,000 shares of our common stock at a per share price of $0.39 on September 27, 2010.
In the fiscal year ended March 31, 2012, Mr. Adderton was reimbursed $20,000 for his personal assistant, through payment to Skycrest
Ventures, LLC, and such amounts are disclosed under &ldquo;All Other&rdquo;.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">Mr. Ellin was appointed Executive Chairman of the Board of Directors on December 28, 2011. Mr.
Ellin also received $20,000 in &lsquo;Other Compensation&rsquo; that consists of salary for a personal assistant that is reimbursed
to Trinad Management, LLC. Prior to his appointment as Executive Chairman, we were a party to a Management Agreement, dated September
14, 2006 with Trinad Management, LLC, the manager of Trinad Capital Master Fund, which is one of our principal stockholders. Mr.
Ellin is the managing director of and portfolio manager for Trinad Management, LLC. Pursuant to the terms of the Management Agreement,
Trinad Management, LLC provides certain management services, including, without limitation, relating to the sourcing, structuring
and negotiation of a potential business combination involving the Company, for a fee of $90,000 per quarter.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Ms. Higgins-Lucero was appointed as our Principal Financial Officer on July 26, 2011.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">On April 12, 2012, Mr. Mandell resigned from his positions with us. <FONT STYLE="color: black">In
February 2011, while an officer of the Company, Mr. Mandell agreed to cancel 400,000 shares underlying an option to purchase 450,000
shares of common stock of the Company, and the Company granted an option to purchase 400,000 shares of the Company&rsquo;s common
stock at an exercise price of $0.25 per share. The Company determined the incremental fair value of the options issued to be $49,916,
using the Black-Scholes option pricing model and the following assumptions: expected life of 6.98 years, a risk free interest rate
of 2.99%, a dividend yield of 0% and volatility of 75%.&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">On January 31, 2012, James Lefkowitz resigned as our Chief Operating Officer. <FONT STYLE="color: black">In
February 2011, while an officer of the Company, Lefkowitz agreed to cancel an option to purchase 500,000 shares of common stock
of the Company, and the Company granted Lefkowitz an option to purchase 500,000 shares of the Company&rsquo;s common stock at an
exercise price of $0.25 per share. The Company determined the incremental fair value of the options issued to be $26,137, using
the Black-Scholes option pricing model and the following assumptions: expected life of 3.00 years, a risk free interest rate of
1.02%, a dividend yield of 0% and volatility of 75%.&nbsp;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21pt; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify">On May 9, 2011, Ray Schaaf resigned as our President and Chief Executive Officer. Amounts disclosed
as salary represent salary paid to Mr. Schaaf in his capacity as President and CEO, while amounts disclosed as &ldquo;All Other&rdquo;
include fees prior to his appointment as President and other benefits paid.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NARRATIVE DISCLOSURE TO SUMMARY COMPENSATION
TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Employment Agreement
with Peter Adderton. </I>On December 28, 2011, we entered into an employment agreement with Mr. Adderton as the Company&rsquo;s
Chief Executive Officer. Mr. Adderton&rsquo;s employment agreement provides for a one-year term and an annual salary of $450,000,
half of which was deferred until certain debt and/or equity financings were consummated. Such financings were consummated and Mr.
Adderton has received his full salary since April 1, 2012 and received a lump sum payment for the portion of his salary that was
deferred from December 28, 2011 to March 31, 2012 on April 9, 2012. Mr. Adderton is eligible to receive a special incentive bonus
if certain debt and/or equity financings are consummated, and is also eligible to receive an annual cash bonus in the amount of
100% of his base salary, upon on the satisfaction of performance-related milestones to be agreed upon between Mr. Adderton and
our board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Adderton also received
a grant of 9,037,500 shares of our restricted common stock that vest in three equal tranches upon the occurrence of the following
events: (i) one or more debt or equity financings during the two years following the date of the agreement (the &ldquo;Measurement
Period&rdquo;) with gross proceeds of at least $5 million; (ii) our achievement on any date during the Measurement Period of a
total enterprise value (computed by multiplying the number of outstanding shares of common stock on a fully diluted (taking into
account only those stock options that are in-the-money on such date), as-converted basis by the average daily trading price for
common stock for the 30-trading day period immediately preceding the date of determination) of $100 million or more; and (iii)
our achievement on any date during the Measurement Period of a total enterprise value (calculated as set forth in clause (ii) above)
of $200 million or more; provided, however, that all unvested shares of restricted common stock will vest immediately upon the
sale of all or substantially all of our assets, upon the merger or reorganization of our Company following which the equity holders
immediately prior to the consummation of such merger or reorganization collectively own less than 50% of the voting power of the
resulting entity, or upon the sale of our equity securities representing 50% or more of our voting power or 50% or more of the
economic interest in us in a single transaction or in a series of related transactions. The first tranche of the grant of restricted
common stock described above vested as of December 29, 2011 upon the funding of the $7 million financing from Adage Capital Partners,
L.P. Mr. Adderton will also be reimbursed for the annual fee of a personal assistant of up to $80,000 during the term of his employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Adderton is also
entitled to receive additional performance bonuses, in cash or shares of common stock at Mr. Adderton&rsquo;s election, upon our
achievement of certain higher total enterprise values. All of Mr. Adderton&rsquo;s shares of restricted common stock are subject
to a one-year prohibition on transfer from the applicable vesting date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the fiscal year
ended March 31, 2012, we did not grant Mr. Adderton any stock options. Mr. Adderton also received a warrant to purchase 150,000
shares of our common stock at a per share price of $0.39.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Executive Chairman
        Agreement with Robert Ellin</I>. On December 28, 2011, we entered into an executive chairman agreement with Mr. Ellin. Mr. Ellin&rsquo;s
        executive chairman agreement provides for a one-year term and an annual fee of $450,000, half of which was deferred until certain
        debt and/or equity financings were consummated. Such financings were consummated, and Mr. Ellin has received his full fee since
        April 1, 2012 and received a lump sum payment for the portion of his fee that was deferred from December 28, 2011 to March 31,
        2012 on April 6, 2012. Mr. Ellin shall be entitled to be paid an annual incentive bonus in cash in an amount of up to one hundred
        percent (100%) of the annual fee based upon satisfaction of performance-related milestones to be agreed upon between Mr. Ellin
        and the other members of our board of directors. Mr. Ellin shall also be reimbursed for the annual fee of a personal assistant
        of up to $80,000 during the term of this executive chairman agreement.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Ellin also received
        three grants totaling 8,000,000 shares of our restricted common stock and vests as follows:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&bull; &nbsp;&nbsp;&nbsp;&nbsp;The first grant of 3,400,000 was
        granted under the executive chairman agreement and vests as follows: (i) one third vested upon the completion our most recent equity
        financing; (ii) one third shall vest if on any date during the term or within 12 months following the term, our total enterprise
        value equals or exceeds $100,000,000; and (iii) one third shall vest immediately if on any date during the term or within 12 months
        following the term our total enterprise value equals or exceeds $200,000,000; provided, however, that all unvested shares of restricted
        common stock shall vest immediately change of control. These shares may not be transferred for a period of one year from the vesting
        date.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&bull;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The second grant of
        3,600,000 shares         was granted on December 28, 2011 and vested fully on the date of the grant. These shares may not be
        transferred for a period of         two years from the date of grant.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&bull; &nbsp;&nbsp;&nbsp;&nbsp;The third grant of 1,000,000 shares
        was granted on December 28, 2011 and vest one year from the date of grant. These shares may not be transferred for a period of
        one year from the vesting date.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Ellin is also entitled
        to receive additional performance bonuses, in cash or shares of common stock at Mr. Ellin&rsquo;s election, upon our achievement
        of certain higher total enterprise values.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the fiscal year
        ended March 31, 2012, we did not grant Mr. Ellin any additional stock options or warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Employment Agreement
with Lisa Higgins-Lucero.</I> Ms. Higgins-Lucero joined us on August 27, 2007. Ms. Higgins-Lucero has a written employment contract
with our wholly owned subsidiary Twistbox which provides for a bonus of up to 10% of her then base salary, at the discretion of
management. She receives a base salary of $120,000 per year, payable in accordance with our payroll guidelines. She is eligible
for a bonus at the discretion of our board of directors. During the fiscal year ended March 31, 2012, we did not grant Ms. Higgins-Lucero
any stock options. Effective January 3, 2012, we granted Ms. Higgins-Lucero 500,000 shares of restricted common stock, of which
250,000 vested immediately and 250,000 will vest upon the achievement of performance criteria at the Chief Executive Officer&rsquo;s
discretion and with the approval of the board of directors, however, all unvested shares will vest immediately upon the sale of
all or substantially all of our assets, upon the merger or reorganization of our Company following which the equity holders immediately
prior to the consummation of such merger or reorganization collectively own less than 50% of the voting power of the resulting
entity, or upon the sale of our equity securities representing 50% or more of our voting power or 50% or more of the economic interest
in us in a single transaction or in a series of related transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Employment Agreement
with David Mandell.&nbsp;</I> On February 1, 2012, we entered into an employment agreement with Mr. Mandell, our former Executive
Vice President and General Counsel.&nbsp; The agreement provides Mr. Mandell a base salary of $250,000 per year. Mr. Mandell was
entitled to be paid an annual discretionary incentive bonus in an amount not to exceed 50% of his salary, based upon satisfaction
of performance-related milestones. On January 3, 2012 we granted Mr. Mandell 750,000 shares of restricted common stock, which vested
as follows: 375,000 shares vested immediately, and 375,000 shares are scheduled to vest upon the completion of an acquisition by
us of all or substantially all of the assets of or equity interests in another entity or similar transaction which is approved
by our board of directors. During the fiscal year ended March 31, 2012, we did not grant Mr. Mandell any stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 12, 2012,
we entered into a Separation and General Release Agreement with Mr. Mandell, under which Mr. Mandell retains ownership of the 375,000
shares of vested common stock awarded under his employment agreement and waives all rights to the non-vested common stock awards
and any other shares awarded under such agreement. We will pay Mr. Mandell a total of $125,000 over a nine-month period beginning
March 9, 2012 as compensation for performing certain transition consulting services for us. Mr. Mandell&rsquo;s first payment was
made on April 20, 2012 for the period March 9, 2012 to April 14, 2012. We will also pay Mr. Mandell&rsquo;s monthly COBRA premiums
for a nine-month period or provide certain reimbursement payments in the event Mr. Mandell&rsquo;s current health plan ceases to
be available before the end of such nine-month period. The agreement provides mutual releases from claims, reasonable cooperation
covenants (and reimbursements obligations for extended consultation), and continuation of non-disclosure obligations and various
attorney-client privilege, confidentiality, cooperation and non-solicitation clause of Mr. Mandell&rsquo;s employment agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Employment Agreement
with James Lefkowitz.&nbsp;</I> On February 21, 2011, we entered into an employment agreement with Mr. Lefkowitz.&nbsp; The agreement
provided Mr. Lefkowitz a base salary of $5,000 per month. We also granted Mr. Lefkowitz options to purchase 500,000 shares of common
stock at an exercise price of $0.25 per share upon the cancellation of options to purchase 500,000 shares of common stock previously
granted to him.&nbsp;During the fiscal year ended March 31, 2012, we did not grant Mr. Lefkowitz any stock options. On January
31, 2012, James Lefkowitz resigned as our Chief Operating Officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Employment Agreement
with Ray Schaaf</I>. Mr. Schaaf was appointed as President of the Company on October 27, 2009 following a period of acting as a
consultant to us. On February 22, 2011 Mandalay entered into a Confidential Separation, Transition and Release Agreement and a
Restricted Stock Agreement with Mr. Schaaf (together, the &ldquo;Schaaf Agreements&rdquo;). Pursuant to the Schaaf Agreements,
Mr. Schaaf entered into a transition period in his role with the Company that ended on May 9, 2011.&nbsp;&nbsp;At the end of the
transition period, Mr. Schaaf ceased to be our President and resigned as a member of its Board of Directors.&nbsp;&nbsp;We paid
Mr. Schaaf $45,000 in 3 installments, and we issued 300,000 shares of the Company&rsquo;s common stock to Mr. Schaaf as compensation
for his services during the transition period.&nbsp; The Schaaf Agreements included a mutual, general release, and if Mr. Schaaf
had not reaffirmed the general release within 21 days of the transition period, then we would have had the right to repurchase
the 300,000 shares of the Company&rsquo;s common stock issued to him.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Other than as described
above, we have no plans or arrangements with respect to remuneration received or that may be received by our named executive officers
to compensate such officers in the event of termination of employment (as a result of resignation, retirement, change of control)
or a change of responsibilities following a change of control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OUTSTANDING EQUITY AWARDS AT MARCH 31,
2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table presents information
regarding outstanding options and unvested stock awards held by our named executive officers as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Option
    Awards</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="14" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Stock
    Awards</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Name</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number
    <BR>of <BR>Securities <BR>Underlying <BR>Unexercised<BR>Options <BR>(#) <BR>Exercisable</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number
    <BR>of <BR>Securities <BR>Underlying <BR>Unexercised <BR>Options <BR>(#) <BR>Unexercisable</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number
    <BR>of <BR>Securities <BR>Underlying <BR>Unexercised<BR>Unearned <BR>Options <BR>(#)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Option
    <BR>Exercise<BR>Price&nbsp;$</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Option
    <BR>expiration<BR>date</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Number
    <BR>of&nbsp;shares <BR>or&nbsp;units <BR>of&nbsp;stock <BR>that&nbsp;have <BR>not <BR>vested&nbsp;(#)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Market
    <BR>value&nbsp;of <BR>shares&nbsp;or <BR>units&nbsp;of <BR>stock <BR>that &nbsp;have<BR>
&nbsp;not <BR>vested&nbsp;($)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Equity
    <BR>incentive <BR>plan <BR>awards: <BR>Number <BR>of <BR>unearned<BR>shares, <BR>units&nbsp;or <BR>other <BR>rights <BR>that&nbsp;have<BR>not
    <BR>vested&nbsp;(#)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 7pt">Equity
    <BR>incentive <BR>plan&nbsp;awards:<BR>Market&nbsp;or <BR>payout&nbsp;value<BR>of&nbsp;unearned <BR>shares,&nbsp;units <BR>or&nbsp;other
    <BR>rights&nbsp;that <BR>have&nbsp;not <BR>vested&nbsp;($)</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 10%; text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">Peter</FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">Adderton</FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt"><I>Chief</I></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt"><I>Executive</I></FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt"><I>Officer</I>(1)</FONT></P></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">6,175,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">1,519,563</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">Robert Ellin <BR>Executive Chaairman (2)</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">500,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2.75</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">6/18/18</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">1,000,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">155,880</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2,266,667</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">555,333</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">Lisa
                                                      Higgins- Lucero</FONT></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt"><I>Principal
                                                                                                                                                  Financial
                                                                                                                                                  Officer
                                                                                                                                                  and
                                                                                                                                                  CFO
                                                                                                                                                  of
                                                                                                                                                  Twistbox
                                                                                                                                                  <FONT STYLE="color: black">Entertainment
                                                                                                                                                  Inc.</FONT></I><FONT STYLE="color: black">(3)</FONT></FONT></P></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">9,759</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">0.81</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">10/9/17</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">250,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">232,500</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">David Mandell <I>Former Executive Vice President and General Counsel
    </I>(4)</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">400,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">0.25</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2/12/2018</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">375,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">348,750</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">50,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">4.75</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2/12/2018</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">James Lefkowitz <BR>Former Chief Operating Officer (5)</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">500,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">0.25</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">2/21/2014</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">Ray Schaaf <BR>Former President and Chief Executive
    Officer</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 7pt">-</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) Effective December
28, 2011, we granted Mr. Adderton 9,037,500 shares of restricted common stock, one third of which vested as of December 29, 2011.
The remaining 6,025,000 shares vest as described above under &ndash;&ldquo;Narrative Disclosure to Summary Compensation Table&mdash;Employment
Agreement with Peter Adderton.&rdquo; Mr. Adderton also received a warrant to purchase 150,000 shares of our common stock at a
per share price of $0.39 on September 27, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(2) Effective June 18, 2008, we granted
Mr. Ellin 500,000 stock options. The stock options are exercisable at the exercise price of $2.75 per share until June 18, 2018.
Effective December 28, 2011, we granted Mr. Ellin 8,000,000 shares of restricted stock, of which 4,733,333 shares have vested.
The remaining 3,266,667 shares vest as described above under &ndash;&ldquo;Narrative Disclosure to Summary Compensation Table&mdash;Executive
Chairman Agreement with Robert Ellin.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(3) Effective January
31, 2008, we granted Ms. Higgins-Lucero 9,759 stock options. The stock options are exercisable at the exercise price of $0.81 per
share until October 9, 2017. Effective January 3, 2012, we also granted Ms. Higgins-Lucero 500,000 shares of restricted common
stock, half of which were vested as of January 3, 2012. The remaining 250,000 shares vest as described above under &ndash;&ldquo;Narrative
Disclosure to Summary Compensation Table&mdash;Employment Agreement with Lisa Higgins-Lucero.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(4) Mr. Mandell resigned
from his positions with us on April 12, 2012. Effective February 12, 2008, we granted Mr. Mandell 400,000 stock options. These
stock options are exercisable at the exercise price of $0.25 per share until February 12, 2018. Effective February 12, 2008, we
also granted Mr. Mandell 50,000 stock options, which are exercisable at the exercise price of $4.75 per share until February 12,
2018. Effective January 3, 2012, we granted Mr. Mandell 750,000 shares of restricted common stock, half of which shares vested
immediately. The remaining 375,000 shares vest as described above under &ndash;&ldquo;Narrative Disclosure to Summary Compensation
Table&mdash;Employment Agreement with David Mandell.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(5) Effective February 21, 2011, we granted
Ms. Lefkowitz 500,000 stock options. The stock options are exercisable at the exercise price of $0.25 per share until February
21, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DIRECTOR COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table presents information
regarding compensation paid to our directors during the fiscal year ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fees&nbsp;Earned&nbsp;or <BR>Paid&nbsp;in&nbsp;Cash <BR>($)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Stock Awards <BR>($)(1)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Option&nbsp;Awards <BR>($)(1)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">All Other <BR>Compensation ($)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total <BR>($)</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 25%; text-align: left">Peter Guber (2)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">620,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">620,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Robert S. Ellin (3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Paul Schaeffer (4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">19,950</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">620,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">639,950</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Peter Adderton (5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Ray Schaaf (6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Adi McAbian (7)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) The
amounts in this column reflect the aggregate grant date fair value of each restricted stock award computed in accordance with
FASB ASC Topic 718. The fair value for awards that are expected to vest is then amortized on a straight-line basis over
the requisite service period of the award, which is generally the stock vesting term. The amount of expense recognized
represents the expense associated with the stock we expect to ultimately vest based upon an estimated rate of forfeitures;
this rate of forfeitures is updated as necessary and any adjustments needed to recognize the fair value of stock that
actually vest or are forfeited are recorded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) As of March 31,
2012, Mr. Guber held 500,000 options with an exercise price of $ 2.75 per share, and 1,000,000 shares of unvested restricted common
stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(3) Mr. Ellin was appointed
Executive Chairman of the Board of Directors on December 28, 2011. His compensation for fiscal year 2011 is fully reflected in
the &ldquo;Summary Compensation Table&rdquo; above. Mr. Ellin received no additional compensation for his service as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(4) As of March 31,
2012, Mr. Schaeffer held 300,000 options with an exercise price of $2.75 per share, and 1,000,000 shares of unvested restricted
common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(5)<B> </B>Mr. Adderton
was appointed as our interim Chief Executive Officer on July 15, 2011 and was appointed as our Chief Executive Officer on December
28, 2011. His compensation for fiscal year 2011 is fully reflected in the &ldquo;Summary Compensation Table&rdquo; above. Mr. Adderton
received no additional compensation for his service as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(6) Mr. Schaaf resigned
as a member of our board of directors on May 9, 2011. As of March 31, 2012, Mr. Schaaf held no options and no shares of unvested
restricted common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(7) Mr. McAbian resigned
as a member of our board of directors on April 27, 2011. As of March 31, 2012, Mr. McAbian held 54,725 options and no shares of
unvested restricted common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NARRATIVE TO DIRECTOR COMPENSATION TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Non-employee director
compensation for a new director is determined on an ad hoc basis by the existing members of the board of directors at the time
a director is elected.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NARRATIVE DISCLOSURE OF COMPENSATION
POLICIES AND PRACTICES AS THEY RELATE TO THE COMPANY&rsquo;S RISK MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that our
compensation policies and practices for all employees, including executive officers, do not create risks that are reasonably likely
to have a material adverse effect on us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Reference is made to
the information contained in the Equity Compensation Plan Information table contained in Item 5 of this Annual&nbsp;Report on Form
10-K, which is incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">The following table
presents information regarding the beneficial ownership of all shares of our common stock and preferred stock as of June 15, 2012
by:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">&nbsp;</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each person who beneficially owns more
than five percent of the outstanding shares of our common stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each person who beneficially owns outstanding
shares of our preferred stock;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each director;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Each named executive officer; and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">All directors and officers as a group.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><B>Name of<BR> Beneficial Owner <SUP>(1)</SUP></B></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Number&nbsp;of&nbsp;Shares</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Beneficially&nbsp;Owned <SUP>(2)</SUP></B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Percentage<BR> Owned (%)</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 59%; text-align: left">Robert S. Ellin (3)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 20%; text-align: right">30,201,385</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; text-align: right">26.4</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Peter Guber (4)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18,786,293</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.4</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Adage Capital Partners LP (5)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">12,553,333</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Peter Adderton (6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,187,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Paul Schaeffer (7)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,300,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Lisa Higgins-Lucero (8)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">509,759</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.4</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">All directors and named executive officers as a group (5 individuals)</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">60,984,937</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">53.3</TD><TD STYLE="font-weight: bold; text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(1) Except as otherwise
indicated, the address of each of the following persons is c/o Mandalay Digital Group, Inc., 4751 Wilshire Boulevard, Third Floor,
Los Angeles, CA 90010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(2) Except as specifically
indicated in the footnotes to this table, the persons named in this table have sole voting and investment power with respect to
all shares of common stock shown as beneficially owned by them, subject to community property laws where applicable. Beneficial
ownership is determined in accordance with the rules of the Securities and Exchange Commission. In computing the number of shares
beneficially owned by a person and the percentage ownership of that person, shares of common stock subject to options, warrants
or rights held by that person that are currently exercisable or convertible or exercisable, convertible or issuable within 60 days
of May 20, 2012, are deemed outstanding. Such shares, however, are not deemed outstanding for the purpose of computing the percentage
ownership of any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify">(3) Trinad Capital Master Fund, Ltd.
is the beneficial owner of 21,701,385 shares of common stock, which includes (a) 4,262,233 issued and outstanding shares of
common stock, (b) 280,899 shares of common stock issuable upon exercise of warrants held by Trinad Capital Master Fund, Ltd.,
at an exercise price of $2.67 per share, (c) 12,058,253 (10,000,000 principal, 2,058,253 accrued interest) shares of common
stock issuable upon conversion of a convertible note issued by us with an aggregate principal amount of $1,500,000 held by
Trinad Capital Master Fund, Ltd. (at the time of conversion accrued interest will also be converted and increase total number
of shares issued) and which is convertible at a price per share of $0.15, and (d) 5,000,000 shares of common stock issuable
upon exercise of warrants held by Trinad Capital Master Fund, Ltd. at an exercise price of $0.25 per share. Trinad
Management, LLC (as the manager of the Trinad Capital Master Fund, Ltd. and Trinad Capital LP) is deemed the beneficial owner
of 21,250,007 shares of common stock which includes 21,150,007 shares of common stock held by Trinad Capital Master Fund,
Ltd. and 100,000 shares of common stock issuable upon conversion of 100,000 shares of series A convertible preferred stock
held by Trinad Management LLC, assuming conversion price $1.00 per share.&nbsp;&nbsp;Trinad Management, LLC disclaims
beneficial ownership of the shares of common stock directly and beneficially owned by Trinad Capital Master Fund, Ltd. Robert
S. Ellin, the managing director of and portfolio manager for Trinad Management, LLC and the managing director of Trinad
Advisors II LLC is deemed the beneficial owner of 30,201,385 shares of common stock, which includes (i) 21,701,385 shares of
common stock held by Trinad Capital Master Fund, Ltd., (ii) 100,000 shares of common stock issuable upon conversion of
100,000 shares of series A convertible preferred stock held by Trinad Management LLC, (iii) 8,000,000 issued and
outstanding shares of common stock owned by Mr. Ellin, and (iv) options to purchase 500,000 shares of common stock owned by
Mr. Ellin. Mr. Ellin disclaims beneficial ownership of the shares of common stock directly and beneficially owned by Trinad
Capital Master Fund, Ltd. except to the extent of his pecuniary interests therein. Trinad Capital LP (as the owner of 70.20%
of the shares of Trinad Capital Master Fund, Ltd. as of March 31, 2012) and Trinad Advisors II, LLC (as the general partner
of Trinad Capital LP), are each deemed the beneficial owner of (a) 3,866,452 shares of common stock (representing 84.53% of
the shares of the 4,293,160 shares of common stock held directly, and not through a derivative security, by Trinad Capital
Master Fund, Ltd.), (b) 280,899 shares of common stock issuable upon exercise of warrants held by Trinad Capital Master Fund,
Ltd., at an exercise price of $2.67 per share, (c) 10,000,000 shares of common stock issuable upon conversion of a
convertible note issued by us with an aggregate principal amount of $1,500,000 held by Trinad Capital Master Fund, Ltd., and
(d) 5,000,000 shares of common stock issuable upon exercise of warrants held by Trinad Capital Master Fund, Ltd. at an
exercise price of $0.25 per share. Trinad Advisors II, LLC disclaims beneficial ownership of the shares of common stock
beneficially owned by Trinad Capital LP, except to the extent of its pecuniary interest therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the beneficial
owners share the power to vote or to direct the vote and to dispose or to direct the disposition of common stock it or he may be
deemed to beneficially own, except that Mr. Ellin has the sole power to vote or to direct the vote of 8,000,000 shares of vested
and unvested stock owned by him and to dispose or to direct the disposition of 4,733,333 shares of fully vested common stock owned
by him, and will have the power to vote or to direct the vote and to dispose or to direct the disposition of 500,000 shares of
common stock underlying the options granted to Mr. Ellin on June 18, 2008 at an exercise price of $2.75 per share, upon their exercise.
The address of each of the beneficial owners is 4751 Wilshire Boulevard, Third Floor, Los Angeles, CA 90010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(4) The Guber
Family Trust (the &ldquo;Trust&rdquo;), of which Peter Guber serves as a trustee, is the beneficial owner of 17,286,293
shares of common stock, which consists of: (a) 5,633,225 issued and outstanding shares of common stock, (b) 280,899 shares of
common stock issuable upon exercise of warrants at an exercise price of $2.67 per share, (c) 8,038,836 (6,666,667 principal,
1,372,169 accrued interest) shares of common stock issuable upon conversion of a convertible note issued by us with an
aggregate principal amount of $1,000,000 (at the time of conversion accrued interest will also be converted and increase
total number of shares issued) and which is convertible at a price per share of $0.15, and (d) 3,333,333 shares of common
stock issuable upon exercise of warrants at an exercise price of $0.25 per share. Peter Guber disclaims beneficial ownership
of the shares of common stock directly and beneficially owned by the Trust, except to the extent of his pecuniary interest
therein. Mr. Guber directly owns 1,500,000 shares of common stock, which consists of 1,000,000 unvested shares of common
stock, and options to purchase 500,000 shares of our common stock, which options are fully vested. Mr. Guber, as trustee of
the Trust, has the sole power to vote or to direct the vote and dispose or to direct the disposition of 16,991,822 shares of
common stock. Mr. Guber shall have the sole power to vote or to direct the vote and to dispose or to direct the disposition
of 500,000 shares of common stock underlying the options granted to Mr. Guber on June 18, 2008 at an exercise price of $2.75
per share, upon their exercise. The information set forth herein is based solely on a Schedule 13D filed by the beneficial
owners with the Securities and Exchange Commission on January 9, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(5) Adage Capital Partners
LP is the beneficial owner of 12,553,333 shares of common stock, which consists of 10,053,333 issued and outstanding shares of
common stock, and 2,500,000 shares of common stock issuable upon exercise of warrants at an exercise price of $0.70 per share.
Adage Capital Partners LP has the sole power to vote or to direct the vote and dispose or to direct the disposition of 12,553,333
shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(6) Peter A. Adderton
is the beneficial owner of 9,187,500 shares of common stock, which consists of (a) 9,037,500 issued and outstanding shares of common
stock and (b) 150,000 shares of common stock issuable upon exercise of warrants at an exercise price of $0.39 per share. Mr. Adderton
has the sole power to vote or to direct the vote of 9,037,500 shares of common stock and to dispose or to direct the disposition
of 3,012,500 shares of common stock (subject to a one-year prohibition on transfer from the applicable vesting date).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(7) Paul &amp; Judy
Schaeffer Living Trust is the beneficial owner of 1,000,000 shares of common stock. The securities indicated are held indirectly
by Mr.&nbsp;Schaeffer through the Paul and Judy Schaeffer Living Trust for which he serves as a trustee. Mr.&nbsp;Schaeffer disclaims
beneficial ownership of these securities except to the extent of his pecuniary interest. Mr. Schaeffer directly owns options to
purchase 300,000 shares of our common stock, which options are fully vested, and 1,000,000 unvested shares of common stock Mr.
Schaeffer will have the sole power to vote or to direct the vote and to dispose or to direct the disposition of 300,000 shares
of common stock underlying the options granted to Mr. Schaeffer on June 18, 2008 at an exercise price of $2.75 per share, upon
their exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(8)
Lisa Higgins-Lucero is the beneficial owner of 509,759 shares of common stock, which consists of 500,000 issued and
outstanding shares, and options to purchase 9,759 shares of common stock. Mrs. Higgins-Lucero has the sole power to vote or
to direct the vote and dispose or to direct the disposition of 250,000 shares of fully vested common stock, and will have the
sole power to vote or to direct the vote and to dispose or to direct the disposition of 9,759 shares of common stock
underlying the options granted to Mrs. Higgins-Lucero on January 31, 2008 at an exercise price of $0.81 per share, upon their
exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS,
AND DIRECTOR INDEPENDENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Mandalay Digital Group, Inc. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Management Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On September 14, 2006,
the Company entered into a five year management agreement (&ldquo;Agreement&rdquo;) with Trinad Management, LLC the manager of
Trinad Capital Master Fund, which is one of our principal stockholders. In addition, Robert Ellin, our Executive Chairman, is the
managing director of and portfolio manager for Trinad Management. Pursuant to the terms of the Agreement, Trinad Management provided
certain management services, including, without limitation, relating to the sourcing, structuring and negotiation of a potential
business combination transaction involving the Company in exchange for a fee of $90,000 per quarter, plus reimbursements of all
related expenses reasonably incurred. The Agreement expired on September 14, 2011, but was extended to December 31, 2011. For the
years ended March 31, 2012 and 2011, the Company incurred management fees under the agreement of $270,000 and $360,000 respectively.
At March 31, 2012 and March 31, 2011, the accrued payable to Trinad Management was $135,000 and $180,000 respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In March 2008, we entered
into a month-to-month lease for office space with Trinad Management for rent of $9,000 per month, which was subsequently reduced
to $5,000 per month. Rent expense in connection with this lease was $0 and $40,000 respectively for the years ended March 31, 2012
and 2011. This lease was terminated in December 2010 when the Company moved to a new location.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Senior Secured Convertible Notes</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 45pt">On June 21, 2010, we
sold and issued $2,500,000 of Senior Secured Convertible Notes due June 21, 2013 (the &ldquo;New Senior Secured Notes&rdquo;) to
certain significant stockholders, comprised of a $1,500,000 New Senior Secured Note sold and issued to Trinad Capital Master Fund
and a $1,000,000 New Senior Secured Note sold and issued to the Guber Family Trust (the &ldquo;Offering&rdquo;).&nbsp;Trinad Capital
Master Fund is one of our principal stockholders and an affiliate of our Executive Chairman, Robert Ellin. &nbsp;Peter Guber, our
Chairman, serves as trustee of the Guber Family Trust. The New Senior Secured Notes have a three-year term and bear interest at
a rate of 10% per annum payable in arrears semi-annually. Notwithstanding the foregoing, at any time on or prior to the 18th month
following the original issue date of the New Senior Secured Notes, we&nbsp;may, at our option, in lieu of making any cash payment
of interest, elect that the amount of any interest due and payable on any interest payment date on or prior to the 18th month following
the original issue date of the New Senior Secured Notes be added to the principal due under the New Senior Secured Notes. The accrued
and unpaid principal and interest due on the New Senior Secured Notes are convertible at any time at the election of the holder
into shares of our common stock at a conversion price of $0.15 per share, subject to adjustment. The New Senior Secured Notes are
secured by a first priority lien on substantially all of our and our subsidiaries&rsquo; assets. The Amended ValueAct Note (described
below) is subordinated to the New Senior Secured Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each purchaser of a
New Senior Secured Note also received a warrant (&ldquo;Warrant&rdquo;) to purchase shares of our common stock at an exercise price
of $0.25 per share, subject to adjustment.&nbsp;&nbsp;For each $50,000 of New Senior Secured Notes purchased, the purchaser received
a Warrant to purchase 166,667 shares of common stock.&nbsp;&nbsp;Each Warrant has a five-year term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Twistbox</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Twistbox engages in
various business relationships with its stockholders and officers and their related entities. The significant relationships are
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Loans</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the Merger,
we agreed to guarantee up to $8,250,000 of Twistbox&rsquo;s&nbsp;outstanding&nbsp;debt&nbsp;to ValueAct, with certain amendments.
On July 30, 2007, Twistbox&nbsp;had&nbsp;entered into a Securities Purchase Agreement by and among Twistbox, the Subsidiary Guarantors,
as defined therein, and ValueAct,&nbsp;pursuant to which ValueAct purchased&nbsp;the ValueAct&nbsp;Note&nbsp;in the amount of $16,500,000
and a Warrant which entitled ValueAct to purchase from Twistbox up to a total of 2,401,747 shares of Twistbox&rsquo;s common stock.&nbsp;&nbsp;In
connection therewith,&nbsp;Twistbox and ValueAct&nbsp;had&nbsp;also entered into a Guarantee and Security Agreement by and among
Twistbox, each of the subsidiaries of Twistbox, the Investors, as defined therein, and ValueAct, as collateral agent, pursuant
to which the parties agreed that the ValueAct Note would be secured by substantially all of the assets of Twistbox and its subsidiaries.
In connection with the Merger,&nbsp;the&nbsp;Warrant was terminated and we issued two warrants&nbsp;in place thereof&nbsp;to ValueAct
to purchase shares of our common stock. One of such warrants entitled ValueAct to purchase up to a total of 1,092,622 shares of&nbsp;our&nbsp;common
stock at an exercise price of $7.55 per share. The other warrant entitled ValueAct to purchase up to a total of 1,092,621 shares
of&nbsp;our&nbsp;common stock at an initial exercise price of $5.00 per share.&nbsp; We also entered into a Guaranty with ValueAct
whereby we agreed to guarantee Twistbox&rsquo;s payment to ValueAct of up to $8,250,000 of principal under the ValueAct Note in
accordance with the terms, conditions and limitations contained in the ValueAct Note. The financial covenants of the ValueAct Note
were also amended,&nbsp;to provide that Twistbox&nbsp;was required&nbsp;maintain a cash balance of not less than $2,500,000&nbsp;at
all times&nbsp;and we were required&nbsp;to maintain a cash balance of not less than $4,000,000 at all times.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On October 23, 2008,
in connection with the AMV Acquisition, the Company, Twistbox and ValueAct entered into a Second Amendment to the ValueAct Note
in the amount of $16,500,000, which among other things, provided for a payment in kind election at the option of Twistbox,&nbsp;modified
the financial covenants set forth in the ValueAct Note&nbsp;to require that the Company and Twistbox maintain certain minimum combined
cash balances and provided for certain covenants with respect to the indebtedness of the Company. and its subsidiaries.&nbsp; Also
on October 23, 2008, AMV granted to ValueAct a security interest in its assets&nbsp;to secure the obligations under the ValueAct
Note.&nbsp;In addition, Mandalay Digital Group, Inc. and ValueAct entered into an allonge to each of those certain warrants issued
to ValueAct in connection with the Merger, which, among other things, amended the exercise price of each of the warrants to $4.00
per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 14, 2009,
for $3,500,000 in principal (the &ldquo;Amended ValueAct Note&rdquo;). In connection with the Restructure, the ValueAct Note, the
Value Act Security Agreement and the Value Act Guaranty were amended and restated in their entirety. In addition, all warrants
and common stock of the Company held by ValueAct were cancelled and all warrants and common stock of the Company held by AMV founders
Nate MacLeitch and Jonathan Cresswell, former directors of the Company, were repurchased by the Company for a price of $0.02 per
share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 14, 2009,
the Company, Twistbox and ValueAct&nbsp;entered into a Third Amendment to&nbsp;the ValueAct Note. Pursuant to this Third Amendment,
the maturity date of the ValueAct Note was changed to July 31, 2010 and the interest rate of the ValueAct Note increased from 10%
to 12.5%.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On January 25, 2010,
the Company, Twistbox and ValueAct entered into a Waiver to Senior Secured Note (the &ldquo;Waiver&rdquo;), pursuant to which ValueAct
agreed to waive certain provisions of the ValueAct Note. Pursuant to the Waiver, subject to Twistbox&rsquo;s compliance with certain
conditions set forth in the Waiver, certain rights to prepay the ValueAct Note were extended from January 31, 2010 to March 1,
2010. In addition, subject to Twistbox&rsquo;s compliance with certain conditions set forth in the Waiver, the timing obligation
of the Company and Twistbox to comply with the cash covenant set forth in the ValueAct Note was extended to March 1, 2010 and the
minimum cash balance that Twistbox and the Company must maintain was increased to $1,600,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 25, 2010,
Twistbox received a letter (the &ldquo;Letter&rdquo;) from ValueAct alleging certain events of default with respect to the ValueAct
Note. The Letter claimed that an event of default had occurred and was continuing under the ValueAct Note as&nbsp;a&nbsp;result
of certain alleged defaults, including the failure to provide weekly evidence of compliance with certain of Twistbox&rsquo;s and
the Company covenants under the ValueAct Note, the failure to comply with limitations on certain payments by the Company and each
of its subsidiaries, and the failure of Twistbox and the Company to maintain minimum cash balances in deposit accounts of each
of Twistbox and the Company. The Letter also claimed that the Waiver had ceased to be effective as a result of the alleged failure
of Mandalay Digital Group, Inc. to comply with the conditions set forth in the Waiver.&nbsp;&nbsp;On May 10, 2010, Twistbox received
from ValueAct a Notice of Event of Default and Acceleration (&ldquo;Notice&rdquo;) in which ValueAct stated that an event of default
had occurred under the ValueAct Note as a result of Twistbox&rsquo;s and the Company&rsquo;s failure to comply with the cash balance
covenant under the ValueAct Note and, therefore, ValueAct accelerated all outstanding amounts payable by Twistbox under the ValueAct
Note.&nbsp;In connection with the Notice, ValueAct instituted an administration proceeding in the United Kingdom against AMV.&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;On June 21, 2010,
we sold all of the operating subsidiaries of AMV to an entity controlled by ValueAct and certain of AMV&rsquo;s founders in exchange
for the release of $23,000,000 of secured indebtedness, comprising of a release of all amounts due and payable under the AMV Note
and all amounts due and payable under the VAC Note except&rdquo;) election to the note through the revised term, and (3) stripped
out $3,000,000 of principal to create the Taja Convertible Note, leaving a principal balance of $500,000 plus accrued interest
of $562,000 for a total of $1,062,000. As consideration for amending the note, Taja also received a warrant (&ldquo;Incentive Warrant&rdquo;)
to purchase 2,000,000 shares of common stock of the Company at an exercise price of $0.25 per share, subject to adjustment. Taja
also received 25% warrant coverage (&ldquo;Coverage Warrant&rdquo;) determined by dividing the principal amount of the Taja Convertible
Note by the conversion price multiplied by 25%. The Incentive Warrant and the Coverage Warrant have a five year term and vest one
year from issue date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 16, 2011,
the Amended ValueAct Note was purchased in its entirety by Taja LLC (&ldquo;Taja) and was amended to remove certain negative covenants
from the Note (the &ldquo;Amended Taja Note&rdquo;). On December 29, 2011, the Company and Taja entered into a binding term sheet
for convertible note financing (&ldquo;Taja Convertible Note&rdquo;) and, effectively, a third amendment to the Second Amended
Note (&ldquo;Third Amended Note&rdquo;). The Third Amended Note (1) changed the maturity date of the Note from June 21, 2013 to
June 21, 2015, (2) extended the payment in kind (&ldquo;PIK the Company and ValueAct entered into a Second Allonge to Warrant to
Purchase 1,092,621 shares of common stock (the &ldquo;Second Allonge&rdquo;), which amended that certain warrant to purchase 1,092,621
shares of the Company&rsquo;s common stock, issued to ValueAct on February 12, 2008, as amended (the &ldquo;ValueAct Warrant&rdquo;).&nbsp;
Pursuant to the Second Allonge, the exercise price of the ValueAct Warrant decreased from $4.00 per share to the lesser of $1.25
per share, or the exercise price per share for any warrant to purchase shares of the Company&rsquo;s common stock issued by the
Company to certain other parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 1, 2012, the
Company and Taja entered into a second binding term sheet (&ldquo;Amended Taja Convertible Note&rdquo;) to amend certain provisions
of the December 29, 2011 binding term sheet. Pursuant to the Amended Taja Convertible Note, (1) the maturity date was revised to
March 1, 2014, (2) the conversion price was amended to $0.70 share, (3) conversion of the note must not cause the holder to exceed
4.9% ownership, except that on the maturity date the entire remaining amount of principle and interest shall automatically convert
into shares of common stock of the Company, (4) the Amended Taja Convertible Note becomes accelerated and immediately due and payable
upon the consummation by the Company of one or more equity sales from and after March 1, 2012 resulting in aggregate net proceeds
of at least $10,000,000, (5) the conversion date is to occur the earlier of (x) the date that the long-form documents are executed
and delivered to all parties, and (y) March 19, 2012, (6) the 2,000,000 Incentive Warrants issued as consideration for the Third
Amended Note were amended to vest and be exercisable one year from March 1, 2012, and (7) the exercise date of the Coverage Warrants
was amended to one year following the conversion date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 19, 2012,
the Company issued 2,600,000 shares of its common stock to Taja for the conversion of $1,820,000 of the Amended Taja Convertible
Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The above description
of the Restructure does not purport to be complete and is qualified in its entirety by reference to the Current Reports on Form
8-K filed by us on June 23, 2010, January 4, 2012, and March 7, 2012, and relevant exhibits thereo, which are incorporated by reference
herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Director Independence</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 15, 2012,
the independent directors of the Board were Paul Schaeffer and Chris Rogers, based on the standards of the Nasdaq Stock Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>Fees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;Aggregate fees
for professional services rendered to us by Singer Lewak, LLP, our independent registered public accounting firm engaged to provide
audit for the fiscal years ended March 31, 2012 and March 31, 2011 were:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 55%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Year&nbsp;Ended <BR>March&nbsp;31,&nbsp;2012</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Year&nbsp;Ended <BR>March&nbsp;31,&nbsp;2011</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 44%; font-weight: bold; text-align: left">Audit fees</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 25%; text-align: right">277,004</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 25%; text-align: right">137,065</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Audit related fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Tax fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">All other fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Total</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">277,004</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">137,065</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Policy on Pre-Approval of Audit and Permissible Non-audit
Services of Independent Auditors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Consistent with the
SEC policies regarding auditor independence, our Board of Directors has responsibility for appointing, setting compensation and
overseeing the work of the independent auditor. In recognition of this responsibility, our Board of Directors has established a
policy to pre-approve all audit and permissible non-audit services provided by the independent auditor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to engagement
of the independent auditor for the next year&rsquo;s audit, management will submit an aggregate of services expected to be rendered
during that year for each of the following four categories of services to the Board of Directors for approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp; <B><I>Audit</I></B>
services include audit work performed in the preparation of financial statements, as well as work that generally only the independent
auditor can reasonably be expected to provide, including comfort letters, statutory audits, and attest services and consultation
regarding financial accounting and/or reporting standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp; <B><I>Audit-Related</I></B>
services are for assurance and related services that are traditionally performed by the independent auditor, including due diligence
related to mergers and acquisitions, employee benefit plan audits, and special procedures required to meet certain regulatory requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp; <B><I>Tax</I></B>
services include all services performed by the independent auditor&rsquo;s tax personnel except those services specifically related
to the audit of the financial statements, and includes fees in the areas of tax compliance, tax planning, and tax advice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp; <B><I>Other
Fees</I></B>&nbsp;are those associated with services not captured in the other categories.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Prior to engagement,
the Board of Directors pre-approves these services by category of service. The fees are budgeted and the Board of Directors requires
the independent auditor and management to report actual fees versus the budget periodically throughout the year by category of
service. During the year, circumstances may arise when it may become necessary to engage the independent auditor for additional
services not contemplated in the original pre-approval. In those instances, the Board of Directors requires specific pre-approval
before engaging the independent auditor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board of Directors
may delegate pre-approval authority to one or more of its members. The member to whom such authority is delegated must report,
for informational purposes only, any pre-approval decisions to the Board of Directors at its next scheduled meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
pre-approved the retention of&nbsp;the independent auditors&nbsp;for all audit and audit-related services during fiscal 2012 and
2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ITEM 15. EXHIBITS AND FINANCIAL STATEMENT
SCHEDULES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(a) The following documents are filed as
part of this Annual Report on Form&nbsp;10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) Financial Statements: The list of financial
statements required by this item is set forth in Item 8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) Financial Statement Schedules: All
financial statement schedules called for under Regulation&nbsp;S-X are not required under the related instructions, are not material
or are not applicable and, therefore, have been omitted or are included in the consolidated financial statements or notes thereto
included elsewhere in this Annual Report on Form&nbsp;10-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3) Exhibits: See Item&nbsp;15(b) below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(b)&nbsp;&nbsp;The following documents
are filed as exhibits to this Annual Report on Form 10-K or have been previously filed with the SEC as indicated and are incorporated
herein by reference:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 6%; text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No.</B></P></TD>
    <TD STYLE="width: 1%; text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 93%; font-weight: bold; text-align: left; vertical-align: bottom">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended Disclosure Statement filed with the United States Bankruptcy Court for the Southern District of New York. <SUP>1</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended Plan of Reorganization filed with the United States Bankruptcy Court for the Southern District of New York <SUP>1</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.3</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Order Confirming Amended Plan of Reorganization issued by the United States Bankruptcy Court for the Southern District of New York. <SUP>1</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">2.4</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Plan and Agreement of Merger, dated September 27, 2007, of NeuMedia Media, Inc., a Delaware corporation, and Mediavest, Inc., a New Jersey corporation. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.5</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Merger merging Mediavest, Inc., a New Jersey corporation, with and into NeuMedia Media, Inc., a Delaware corporation, as filed with the Secretary of State of the State of Delaware. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.6</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Merger merging Mediavest, Inc., a New Jersey corporation, with and into NeuMedia Media, Inc., a Delaware corporation, as filed with the Secretary of State of the State of New Jersey. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.7</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Agreement and Plan of Merger, dated as of December 31, 2007, by and among NeuMedia Media, Inc., Twistbox Acquisition, Inc., Twistbox Entertainment, Inc. and Adi McAbian and Spark Capital, L.P. <SUP>3</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.8</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amendment to Agreement and Plan of Merger, dated as of February 12, 2008, by and among NeuMedia Media, Inc., Twistbox Acquisition, Inc., Twistbox Entertainment, Inc. and Adi McAbian and Spark Capital, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">2.9</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Ownership merging Mandalay Digital Group, Inc. into Neumedia, Inc., dated February 2, 2012*</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">3.1</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Certificate of Incorporation. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">3.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Bylaws. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">3.3&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certificate of Amendment of the Bylaws of NeuMedia, Inc., dated February 2, 2012.<SUP> 28</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Warrant to Purchase Common Stock dated September 14, 2006. <SUP>5</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Warrant to Purchase Common Stock dated October 12, 2006. <SUP>6</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.3</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Warrant to Purchase Common Stock dated December 26, 2006. <SUP>7</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.4</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Warrant Issued to David Chazen to Purchase Common Stock dated August 3, 2006. <SUP>8</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.5</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Warrant issued to Investors, dated October 23, 2008. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.6</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Warrant dated September 23, 2009 issued to Vivid Entertainment, LLC and related Registration
    Right Agreement. <SUP>23</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.7</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Warrant issued to Investors, dated June 21, 2010. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.8</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Senior Secured Convertible Note due June 21, 213. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.9</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended and Restated Senior Subordinated Secured Note due June 21, 2013, by Twistbox Entertainment, Inc. in favor of ValueAct SmallCap Master Fund, L.P. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.10</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Form of Warrant Relating to Equity Financing Binding Term Sheet, dated as of March 1, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.11</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Form of Warrant Relating to Equity Financing Binding Term Sheets, dated as of March 5, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.12</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Amended and Restated Warrant Issue Agreement, dated January 1, 2011*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">4.13</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Allonge to Warrant, dated January 1, 2011*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 6%">10.1</TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 93%">2007 Employee, Director and Consultant Stock Plan. <SUP>2&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.1.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Non-Qualified Stock Option Agreement. <SUP>2&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amendment to 2007 Employee, Director and Consultant Stock Plan. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.3</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Second Amendment to 2007 Employee, Director and Consultant Stock Plan. <SUP>10&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.4</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Restricted Stock Agreement. <SUP>11&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.5</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Twistbox 2006 Stock Incentive Plan. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.6</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Stock Option Agreement for Twistbox 2006 Stock Incentive Plan. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.7</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Loan Agreement with Trinad Capital Master Fund, Ltd., dated March 20, 2006. <SUP>12</SUP> &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.8</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto dated September 14, 2006.&nbsp; <SUP>5</SUP> &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.9</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto dated October 12, 2006. <SUP>6</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.10</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Series A Convertible Preferred Stock Purchase Agreement dated October 12, 2006 between the Company and Trinad Management, LLC. <SUP>6</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.11</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto dated December 26, 2006.&nbsp; <SUP>7</SUP> &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.12</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto. <SUP>13</SUP> &nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.13</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Letter, by and between the Company and James Lefkowitz, dated as of June 28, 2007. <SUP>14&dagger;</SUP></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.14</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Salary Reduction Letter by and between Mandalay Media, Inc. and James Lefkowitz, dated March 16, 2009. <SUP>11&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.15</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Securities Purchase Agreement, dated July 30, 2007, by and among Twistbox Entertainment, Inc., the Subsidiary Guarantors and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.16</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Guarantee and Security Agreement, dated July 30, 2007 by and among Twistbox Entertainment, Inc., each of the Subsidiaries party thereto, the Investor party thereto and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.17</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Control Agreement, dated July 30, 2007, by and among Twistbox Entertainment. Inc. and ValueAct SmallCap Master Fund, L.P. to East West Bank. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.18</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Trademark Security Agreement, dated July 30, 2007, by Twistbox, in favor of ValueAct SmallCap Master Fund, L.P.&nbsp; <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.19</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Copyright Security Agreement, dated July 30, 2007, by Twistbox in favor of ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.20</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Guaranty given as of February 12, 2008, by Mandalay Media, Inc. to ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.21</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Termination Agreement, dated as of February 12, 2008, by and between Twistbox Entertainment, Inc. and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.22</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Waiver to Guarantee and Security Agreement, dated February 12, 2008, by and between Twistbox Entertainment, Inc. and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.23</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Standard Industrial/Commercial Multi-Tenant Lease, dated July 1, 2005, by and between Berkshire Holdings, LLC and The WAAT Corp. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.24</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter Agreement, dated May 16, 2006, between The WAAT Corp. and Adi McAbian. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.25</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amendment to Employment Agreement by and between Twistbox Entertainment, Inc. and Adi McAbian dated as of December 31, 2007. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.26</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Second Amendment to Employment Agreement, dated February 12, 2008, by and between Twistbox Entertainment, Inc. and Adi McAbian. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.27</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter Agreement, dated May 16, 2006 between The WAAT Corp. and Ian Aaron. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.28</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Salary Reduction Letter by and between Mandalay Media, Inc. and Ian Aaron, dated March 16, 2009. <SUP>11&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.29</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amendment to Employment Agreement, by and between Twistbox Entertainment, Inc. and Ian Aaron, dated as of December 31, 2007. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.30</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Second Amendment to Employment Agreement by and between Twistbox Entertainment, Inc. and Ian Aaron, dated February 12, 2008. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.31</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement, dated May 9, 2006, between Charismatix and Eugen Barteska. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.32</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement, dated June 5, 2006, between The WAAT Corp. and David Mandell. <SUP>4&dagger;</SUP></TD></TR>
</TABLE>
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    <TD STYLE="width: 6%; text-align: justify">10.33</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">First Amendment to Employment Agreement, by and between Twistbox Entertainment, Inc. and David Mandell, dated February 12, 2008. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.34</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement, dated December 11, 2006 between Twistbox and Russell Burke. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.35</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">First Amendment to Employment Agreement by and between Twistbox Entertainment, Inc. and Russell Burke, dated February 12, 2008. <SUP>4&dagger;</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.36</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Directory Agreement, dated as of May 1, 2003, between Vodafone Global Content Services Limited and The WAAT Corporation. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.37</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Reseller Agreement by Vodafone Hungary Ltd. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.38</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Master Global Content Agency Agreement, effective as of December 17, 2004, between Vodafone Group Services Limited and The WAAT Media Corporation. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.39</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter of Amendment, dated February 27, 2007, by and between WAAT Media Corporation and Vodafone UK Content Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.40</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Content Schedule, dated December 17, 2004, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.41</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone D2 GmbH. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.42</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone Sverige AB. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.43</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Master Global Content Reseller Agreement, effective January 17, 2005, between Vodafone Group Services Limited and The WAAT Corporation. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.44</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone New Zealand Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.45</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone Espa&ntilde;a, S.A. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.46</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Reseller Agreement by Vodafone UK Content Services LTD. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.47</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Reseller Agreement by VODAFONE-PANAFON Hellenic Telecommunications Company S.A. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.48</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Content Schedule, dated January 17, 2005, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.49</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Belgacom Mobile NV. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.50</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Content Schedule, dated January 17, 2005, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.51</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Swisscom Mobile. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.52</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Linking Agreement, dated November 1, 2006 between Vodafone Libertel NV and Twistbox Entertainment, Inc. <SUP>4</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.53</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Agreement, dated as of March 23, 2007, between Twistbox Entertainment, Inc. and Vodafone Portugal - COMUNICA&Ccedil;&Otilde;ES PESSOAIS, S.A <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.54</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Contract for Content Hosting and Services &ldquo;Applications and Games Services,&rdquo; effective August 27, 2007 between Vodafone D2 GmbH and Twistbox Games Ltd &amp; Co. KG. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.55</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Partner Agreement, dated August 27, 2007, by and between Vodafone D2 GmbH and Twistbox. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.56</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter of Amendment, dated February 25, 2006 by and between WAAT Media Corporation and Vodafone UK Content Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.57</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter of Amendment, dated August 2007, by and between WAAT Media Corporation and Vodafone UK Content Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.58</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Content Schedule, dated December 17, 2004, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.59</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Consolidated financial statements of Twistbox Entertainment, Inc. for the fiscal years ended March 31, 2006 and March 31, 2007. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.60</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Consolidated financial statements of Twistbox Entertainment, Inc. for the six months ended September 20, 2006 and September 30, 2007. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.61</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Stock Purchase Agreement, by and among Mandalay Media, Inc., Jonathan Cresswell, Nathaniel MacLeitch and the shareholders of AMV Holding Limited signatories thereto, dated as of October 8, 2008. <SUP>15</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.62</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Amendment to the Stock Purchase Agreement, between Mandalay Media, Inc. and Nathaniel MacLeitch as the Sellers&rsquo; Representative, dated as of October 23, 2008. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.63</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement, by and between AMV Holding Limited and Nathaniel MacLeitch, dated as of October 23, 2008. <SUP>9&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.64</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Employment Agreement, by and between AMV Holding Limited and Jonathan Cresswell (a/k/a Jack Cresswell), dated as of October 23, 2008. <SUP>9&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.65</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Securities Purchase Agreement, by and among Mandalay Media, Inc. and the investors set forth therein, dated as of October 23, 2008. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.66</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Note, dated October 23, 2008, issued by Mandalay Media, Inc. to Nathaniel MacLeitch, as the Sellers&rsquo; Representative. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.67</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Management Agreement dated September 14, 2006 between the Company and Trinad Management, LLC. <SUP>5</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.68</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Commercial Lease Agreement, dated as of March 1, 2007, between Trinad Management LLC and Mediavest, Inc. <SUP>16</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.69</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">First Amendment to Promissory Note, dated August 14, 2009, issued by Mandalay Media, Inc. to Nathaniel MacLeitch, as the Sellers&rsquo; Representative.<SUP>21</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.70</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Severance and Release Agreement, by and among Mandalay Media, Inc., Twistbox Entertainment, Inc. and Ian Aaron, dated as of October 7, 2009.<SUP>22&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.71</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Waiver to Senior Secured Note by and among Mandalay Media, Inc., Twistbox Entertainment, Inc. and ValueAct&nbsp;SmallCap Master Fund, L.P., dated as of January 25, 2010.<SUP>24</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.72</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Agreement, dated as of June 21, 2010, between ValueAct SmallCap Master Fund, L.P., NeuMedia, Inc., Jonathan Cresswell, Nathaniel MacLeitch, Robert Ellin, Trinad Management, LLC, Trinad Capital Master Fund, Ltd. and the Guber Family Trust. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.73</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Mutual Release, dated as of June 21, 2010, among ValueAct SmallCap Master Fund, L.P., Antiphony (Management Holdings) Limited, Nathaniel MacLeitch, Jonathan Cresswell, NeuMedia, Inc., Twistbox Entertainment, Inc., Peter Guber, Robert Ellin, Paul Schaeffer, Adi McAbian, Richard Spitz, Ray Schaaf, Keith McCurdy, Russell Burke, James Lefkowitz and Trinad Management. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.74</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Subordination Agreement, dated as of June 21, 2010, by and between Trinad Capital Master Fund, Ltd., and ValueAct SmallCap Master Fund, L.P., and each of NeuMedia, Inc. and Twistbox Entertainment, Inc.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.75</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Deed Poll Release, dated as of June 21, 2010, between NeuMedia, Inc., Twistbox Entertainment, Inc., James Lefkowitz and Russell Burke.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.76</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Non-Competition Agreement, dated as of June 21, 2010, among NeuMedia, Inc., Antiphony (Management Holdings) Limited,&nbsp;&nbsp;Jack Cresswell and Nate MacLeitch.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.77</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Earn-Out Termination Letter Agreement, dated as of June 21, 2010, among ValueAct SmallCap Master Fund, L.P., NeuMedia, Inc., Jonathan Cresswell, Nathaniel MacLeitch and certain other parties.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.78</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended and Restated Guaranty, dated as of June 21, 2010, by NeuMedia, Inc. to ValueAct SmallCap Master Fund, L.P.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.79</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter Agreement, dated as of June 21, 2010, between ValueAct SmallCap Master Fund, L.P., NeuMedia, Inc., Rob Ellin and Trinad Management, LLC.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.80</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amended and Restated Guarantee and Security Agreement, dated as of June 21, 2010, among Twistbox Entertainment, Inc., NeuMedia, Inc. and each of its subsidiaries identified on Schedule I as being a subsidiary guarantor, the investors party thereto and ValueAct SmallCap Master Fund, L.P.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.81</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Guarantee and Security Agreement, dated as of June 21, 2010, among Twistbox Entertainment, Inc., NeuMedia, Inc., each of the subsidiaries thereof party thereto, the investors party thereto and Trinad Capital Management, LLC.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.82</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Confidential Separation, Transition and Release Agreement, dated as of February 22, 2011, by and between Ray Schaaf and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.83</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Restricted Stock Agreement, dated as of February 22, 2011, by and between Ray Schaaf and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.84</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Confidential Separation, Transition and Release Agreement, dated as of February 21, 2011, by and between Russell Burke and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.85</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Non-Qualified Stock Option Agreement, dated as of February 21, 2011, by and between Russell Burke and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.86</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Amendment to Employment Letter Agreement, dated as of February 21, 2011, by and between James Lefkowitz and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-align: justify">10.87</TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 93%; text-align: justify">Non-Qualified Stock Option Agreement, dated as of February 21, 2011, by and between James Lefkowitz and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.88</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Subordinated Convertible Promissory Note, dated December 23, 2011, made by NeuMedia, Inc. in favor of Adage Capital Management L.P.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.89</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Warrant, dated December 23, 2011, made by NeuMedia, Inc. in favor of Adage Capital Management L.P.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.90</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter Agreement, dated December 23, 2011, made by and between NeuMedia, Inc. and Adage Capital Management L.P.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.91</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Letter Agreement, dated December 28, 2011, made by and between NeuMedia, Inc. and Trinad Management, LLC.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.92</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Second Amended and Restated Senior Subordinated Secured Note due June 21, 2013, made by Twistbox Entertainment, Inc. in favor of Taja, LLC.<SUP> 29&dagger;</SUP></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 6%">10.93</TD>
    <TD STYLE="width: 1%; color: blue">&nbsp;</TD>
    <TD STYLE="width: 93%">Restricted Stock Agreement, dated January 1, 2011.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.94</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Employment Agreement, dated as of December 28, 2011, by and between NeuMedia, Inc. and Peter Adderton.<SUP> </SUP>(27)&dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.95</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Asset Purchase Agreement, dated as of December 28, 2011, by and among Digital Turbine, Inc., Digital Turbine Group, LLC, Peter Adderton and Fred Golding.<SUP> </SUP>(27)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.96</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Executive Chairman Agreement, dated as of December 28, 2011, by and between NeuMedia, Inc. and Robert Ellin.<SUP> </SUP>(27) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.97</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Convertible Note Financing Binding Term Sheet, effective March 1, 2012 with TAJA, LLC.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.98</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Convertible Note Financing Binding Term Sheet, effective March 1, 2012 with Adage Capital Partners, L.P.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.99</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Form of Equity Financing Binding Term Sheet, effective as of March 1, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.100</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Form of Equity Financing Binding Term Sheet, dated as of March 5, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.101</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Form of Indemnification with Directors and Executive Officers. (30) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.102</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011, between Mandalay Digital Group, Inc. and Peter Adderton, for 9,037,500 shares of common stock. (31) <FONT STYLE="color: blue">&dagger;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.103</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011, between Mandalay Digital Group, Inc. and Robert Ellin, for 3,600,000 shares of common stock. (31) <FONT STYLE="color: blue">&dagger;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.104</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011 between Mandalay Digital Group, Inc. and Robert Ellin, for 3,400,000 shares of common stock. (31) <FONT STYLE="color: blue">&dagger;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.105</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011, between Mandalay Digital Group, Inc. and Robert Ellin, for 1,000,000 shares of common stock. (31) <FONT STYLE="color: blue">&dagger;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.106</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Amendment to Restricted Stock Agreement, dated May 18, 2012, between Mandalay Digital Group, Inc. and Peter Adderton. (31) <FONT STYLE="color: blue">&dagger;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.107</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Amendment to Restricted Stock Agreements, dated May 18, 2012, between Mandalay Digital Group, Inc. and Robert Ellin. (31) <FONT STYLE="color: blue">&dagger;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.108</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Amended and Restated 2011 Equity Incentive Plan of Mandalay Digital Group, Inc. (31)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.109</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Amended and Restated 2011 Equity Incentive Plan Notice of Grant and Restricted Stock Agreement of Mandalay Digital Group, Inc. (31)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.110</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Amended and Restated 2011 Equity Incentive Plan Notice of Grant and Stock Option Agreement of Mandalay Digital Group, Inc. (31)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">10.111</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD>Form of Equity Financing Binding Term Sheet, dated as of June 7, 2012.*</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 6%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 1%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 93%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">21</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">List of Subsidiaries <SUP>*</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">31.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certification of Peter Adderton, Principal Executive Officer. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">31.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certification of&nbsp;Lisa Higgins-Lucero, Principal Financial Officer. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">32.1</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certification of Peter Adderton, Principal Executive Officer pursuant to U.S.C. Section 1350. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">32.2</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Certification of Lisa Higgins-Lucero, Principal Financial Officer pursuant to U.S.C. Section 1350. *</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">* Filed herewith</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><SUP>&dagger; </SUP>Management
contract or compensatory plan or arrangement</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Annual Report on Form 10-KSB (File No. 000-10039), filed with the Commission
on December 2, 2005.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on November 14, 2007.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on January 2, 2008.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on February 12, 2008.&nbsp;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on September 20, 2006.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(6)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on October 18, 2006.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(7)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on January 3, 2007.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(8)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on August 9, 2006.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(9)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on October 27, 2008.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(10)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on March 28, 2008.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(11)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on March 20, 2009.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(12)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on March 23, 2006.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(13)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on July 30, 2007</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(14)</TD><TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission
on July 3, 2007.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(15)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on October 15,
2008.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(16)</TD><TD>Incorporated by reference to our Registrant&rsquo;s&nbsp;Transition Report on Form 10-KT&nbsp;(File No. 000-10039), filed with
the Commission on July 15, 2008.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(17)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on May 16, 2007.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(18)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on June 2, 2008.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(19)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on February 23,
2009.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(20)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on June 4, 2009.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(21)</TD><TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039), filed with the Commission on August 14,
2009.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(22)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on October 14,
2009.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(23)</TD><TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039), filed with the Commission on November
16, 2009.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(24)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on January 28,
2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(25)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on June 23, 2010.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(26)</TD><TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039), filed with the Commission on February
22, 2011.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(27)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039 ), filed with the Commission on January 4,
2012.</TD></TR>               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(28)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on February 7,
2012.</TD></TR>               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(29)</TD><TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039 ), filed with the Commission on February
24, 2012.</TD></TR>                   <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(30)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039 ), filed with the Commission on May 10, 2012.</TD></TR>                                                                                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(31)</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on May 30, 2012.</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c) Financial Statement Schedules.&nbsp;Reference
is made to Item&nbsp;15(a)(2) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of Section
13 or 15(d) of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Mandalay Digital Group, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dated: June 29, 2012</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 48%; border-bottom: windowtext 1pt solid">/s/ Peter Adderton&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Peter Adderton</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">KNOW ALL THESE PERSONS BY THESE PRESENTS,
that each person whose signature appears below constitutes and appoints Peter Adderton, his attorney-in-fact, with full power of
substitution, for him in any and all capacities, to sign any and all amendments to this Report on Form&nbsp;10-K, and to file the
same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying
and confirming all that said attorney-in-fact or his substitute or substitutes, may do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 24.5pt">Pursuant to the requirements of the Exchange
Act, this Report has been signed below by the following persons on behalf of the Registrant in the capacities and on the dates
indicated. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: left; vertical-align: bottom">Signatures</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 52%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Title</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 18%; border-bottom: windowtext 1pt solid; font-weight: bold; text-align: center">Date</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; vertical-align: bottom">/s/ Robert Ellin</TD>
    <TD>&nbsp;</TD>
    <TD>Executive Chairman of the Board</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 29, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">Robert S. Ellin</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; vertical-align: bottom">/s/ Peter Guber</TD>
    <TD>&nbsp;</TD>
    <TD>Chairman of the Board</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 29, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">Peter Guber</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; vertical-align: bottom">/s/ Paul Schaeffer</TD>
    <TD>&nbsp;</TD>
    <TD>Co-Chairman of the Board</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 29, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">Paul Schaeffer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; vertical-align: bottom">/s/ Peter Adderton</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Executive Officer and Director </P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 29, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: left; vertical-align: bottom">Peter Adderton</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Executive
Officer)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; vertical-align: bottom">/s/ Chris Rogers</TD>
    <TD>&nbsp;</TD>
    <TD>Director</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 29, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">Chris Rogers</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: left; vertical-align: bottom">/s/ Lisa Higgins-Lucero</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Financial Officer, Twistbox Entertainment, Inc. </P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 29, 2012</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-align: left; vertical-align: bottom">Lisa Higgins-Lucero</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Financial Officer and Principal Accounting Officer)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 6%; font-weight: bold">Exhibit<BR>
 No.</TD>
    <TD STYLE="width: 1%; font-weight: bold">&nbsp;</TD>
    <TD STYLE="width: 93%; font-weight: bold; text-align: justify; vertical-align: bottom">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amended Disclosure Statement filed with the United States Bankruptcy Court for the Southern District of New York. <SUP>1</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amended Plan of Reorganization filed with the United States Bankruptcy Court for the Southern District of New York <SUP>1</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Order Confirming Amended Plan of Reorganization issued by the United States Bankruptcy Court for the Southern District of New York. <SUP>1</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Plan and Agreement of Merger, dated September 27, 2007, of NeuMedia Media, Inc., a Delaware corporation, and Mediavest, Inc., a New Jersey corporation. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certificate of Merger merging Mediavest, Inc., a New Jersey corporation, with and into NeuMedia Media, Inc., a Delaware corporation, as filed with the Secretary of State of the State of Delaware. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certificate of Merger merging Mediavest, Inc., a New Jersey corporation, with and into NeuMedia Media, Inc., a Delaware corporation, as filed with the Secretary of State of the State of New Jersey. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.7</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Agreement and Plan of Merger, dated as of December 31, 2007, by and among NeuMedia Media, Inc., Twistbox Acquisition, Inc., Twistbox Entertainment, Inc. and Adi McAbian and Spark Capital, L.P. <SUP>3</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.8</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amendment to Agreement and Plan of Merger, dated as of February 12, 2008, by and among NeuMedia Media, Inc., Twistbox Acquisition, Inc., Twistbox Entertainment, Inc. and Adi McAbian and Spark Capital, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>2.9</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certificate of Ownership merging Mandalay Digital Group, Inc. into Neumedia, Inc., dated February 2, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certificate of Incorporation. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Bylaws. <SUP>2</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>3.3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certificate of Amendment of the Bylaws of NeuMedia, Inc., dated February 2, 2012.<SUP> 28</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant to Purchase Common Stock dated September 14, 2006. <SUP>5</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant to Purchase Common Stock dated October 12, 2006. <SUP>6</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant to Purchase Common Stock dated December 26, 2006. <SUP>7</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant Issued to David Chazen to Purchase Common Stock dated August 3, 2006. <SUP>8</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant issued to Investors, dated October 23, 2008. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Warrant dated September 23, 2009 issued to Vivid Entertainment, LLC
    and related Registration Right Agreement. <SUP>23</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.7</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant issued to Investors, dated June 21, 2010. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.8</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Senior Secured Convertible Note due June 21, 213. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.9</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amended and Restated Senior Subordinated Secured Note due June 21, 2013, by Twistbox Entertainment, Inc. in favor of ValueAct SmallCap Master Fund, L.P. <SUP>25</SUP></TD></TR>

<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.10</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant Relating to Equity Financing Binding Term Sheet, dated as of March 1, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.11</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Warrant Relating to Equity Financing Binding Term Sheets, dated as of March 5, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.12</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amended and Restated Warrant Issue Agreement, dated January 1, 2011*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>4.13</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Allonge to Warrant, dated January 1, 2011*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD>
    <TD STYLE="color: blue">&nbsp;</TD></TR>
</TABLE>


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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">10.1</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; vertical-align: bottom; text-align: justify">2007 Employee, Director and Consultant Stock Plan. <SUP>2&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Non-Qualified Stock Option Agreement. <SUP>2&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amendment to 2007 Employee, Director and Consultant Stock Plan. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.3</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Second Amendment to 2007 Employee, Director and Consultant Stock Plan. <SUP>10&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.4</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Restricted Stock Agreement. <SUP>11&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.5</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Twistbox 2006 Stock Incentive Plan. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.6</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Stock Option Agreement for Twistbox 2006 Stock Incentive Plan. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.7</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Loan Agreement with Trinad Capital Master Fund, Ltd., dated March 20, 2006. <SUP>12</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.8</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto dated September 14, 2006.&nbsp; <SUP>5</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.9</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto dated October 12, 2006. <SUP>6</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.10</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Series A Convertible Preferred Stock Purchase Agreement dated October 12, 2006 between the Company and Trinad Management, LLC. <SUP>6</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.11</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto dated December 26, 2006.&nbsp; <SUP>7</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.12</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Form of Subscription Agreement between the Company and certain investors listed thereto. <SUP>13</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.13</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Employment Letter, by and between the Company and James Lefkowitz, dated as of June 28, 2007. <SUP>14&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.14</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Salary Reduction Letter by and between Mandalay Media, Inc. and James Lefkowitz, dated March 16, 2009. <SUP>11&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.15</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Securities Purchase Agreement, dated July 30, 2007, by and among Twistbox Entertainment, Inc., the Subsidiary Guarantors and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.16</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Guarantee and Security Agreement, dated July 30, 2007 by and among Twistbox Entertainment, Inc., each of the Subsidiaries party thereto, the Investor party thereto and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.17</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Control Agreement, dated July 30, 2007, by and among Twistbox Entertainment. Inc. and ValueAct SmallCap Master Fund, L.P. to East West Bank. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.18</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Trademark Security Agreement, dated July 30, 2007, by Twistbox, in favor of ValueAct SmallCap Master Fund, L.P.&nbsp; <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.19</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Copyright Security Agreement, dated July 30, 2007, by Twistbox in favor of ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.20</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Guaranty given as of February 12, 2008, by Mandalay Media, Inc. to ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.21</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Termination Agreement, dated as of February 12, 2008, by and between Twistbox Entertainment, Inc. and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">10.22</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; vertical-align: bottom; text-align: justify">Waiver to Guarantee and Security Agreement, dated February 12, 2008, by and between Twistbox Entertainment, Inc. and ValueAct SmallCap Master Fund, L.P. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.23</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Standard Industrial/Commercial Multi-Tenant Lease, dated July 1, 2005, by and between Berkshire Holdings, LLC and The WAAT Corp. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.24</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter Agreement, dated May 16, 2006, between The WAAT Corp. and Adi McAbian. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.25</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amendment to Employment Agreement by and between Twistbox Entertainment, Inc. and Adi McAbian dated as of December 31, 2007. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.26</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Second Amendment to Employment Agreement, dated February 12, 2008, by and between Twistbox Entertainment, Inc. and Adi McAbian. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.27</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter Agreement, dated May 16, 2006 between The WAAT Corp. and Ian Aaron. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.28</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Salary Reduction Letter by and between Mandalay Media, Inc. and Ian Aaron, dated March 16, 2009. <SUP>11&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.29</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amendment to Employment Agreement, by and between Twistbox Entertainment, Inc. and Ian Aaron, dated as of December 31, 2007. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.30</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Second Amendment to Employment Agreement by and between Twistbox Entertainment, Inc. and Ian Aaron, dated February 12, 2008. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.31</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Employment Agreement, dated May 9, 2006, between Charismatix and Eugen Barteska. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.32</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Employment Agreement, dated June 5, 2006, between The WAAT Corp. and David Mandell. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.33</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">First Amendment to Employment Agreement, by and between Twistbox Entertainment, Inc. and David Mandell, dated February 12, 2008. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.34</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Employment Agreement, dated December 11, 2006 between Twistbox and Russell Burke. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.35</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">First Amendment to Employment Agreement by and between Twistbox Entertainment, Inc. and Russell Burke, dated February 12, 2008. <SUP>4&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.36</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Directory Agreement, dated as of May 1, 2003, between Vodafone Global Content Services Limited and The WAAT Corporation. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.37</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Reseller Agreement by Vodafone Hungary Ltd. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.38</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Master Global Content Agency Agreement, effective as of December 17, 2004, between Vodafone Group Services Limited and The WAAT Media Corporation. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.39</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter of Amendment, dated February 27, 2007, by and between WAAT Media Corporation and Vodafone UK Content Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.40</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Content Schedule, dated December 17, 2004, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.41</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone D2 GmbH. <SUP>4</SUP></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">10.42</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone Sverige AB. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.43</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Master Global Content Reseller Agreement, effective January 17, 2005, between Vodafone Group Services Limited and The WAAT Corporation. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.44</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone New Zealand Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.45</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Vodafone Espa&ntilde;a, S.A. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.46</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Reseller Agreement by Vodafone UK Content Services LTD. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.47</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Reseller Agreement by VODAFONE-PANAFON Hellenic Telecommunications Company S.A. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.48</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Content Schedule, dated January 17, 2005, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.49</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Belgacom Mobile NV. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.50</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Content Schedule, dated January 17, 2005, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.51</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract Acceptance Notice - Master Global Content Agency Agreement by Swisscom Mobile. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.52</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Linking Agreement, dated November 1, 2006 between Vodafone Libertel NV and Twistbox Entertainment, Inc. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.53</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Agreement, dated as of March 23, 2007, between Twistbox Entertainment, Inc. and Vodafone Portugal - COMUNICA&Ccedil;&Otilde;ES PESSOAIS, S.A <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.54</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Contract for Content Hosting and Services &ldquo;Applications and Games Services,&rdquo; effective August 27, 2007 between Vodafone D2 GmbH and Twistbox Games Ltd &amp; Co. KG. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.55</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Partner Agreement, dated August 27, 2007, by and between Vodafone D2 GmbH and Twistbox. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.56</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter of Amendment, dated February 25, 2006 by and between WAAT Media Corporation and Vodafone UK Content Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.57</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter of Amendment, dated August 2007, by and between WAAT Media Corporation and Vodafone UK Content Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.58</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Content Schedule, dated December 17, 2004, by and between WAAT Media Corporation and Vodafone Group Services Limited. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.59</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Consolidated financial statements of Twistbox Entertainment, Inc. for the fiscal years ended March 31, 2006 and March 31, 2007. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.60</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Consolidated financial statements of Twistbox Entertainment, Inc. for the six months ended September 20, 2006 and September 30, 2007. <SUP>4</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.61</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Stock Purchase Agreement, by and among Mandalay Media, Inc., Jonathan Cresswell, Nathaniel MacLeitch and the shareholders of AMV Holding Limited signatories thereto, dated as of October 8, 2008. <SUP>15</SUP></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">10.62</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; vertical-align: bottom; text-align: justify">Amendment to the Stock Purchase Agreement, between Mandalay Media, Inc. and Nathaniel MacLeitch as the Sellers&rsquo; Representative, dated as of October 23, 2008. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.63</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Employment Agreement, by and between AMV Holding Limited and Nathaniel MacLeitch, dated as of October 23, 2008. <SUP>9&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.64</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Employment Agreement, by and between AMV Holding Limited and Jonathan Cresswell (a/k/a Jack Cresswell), dated as of October 23, 2008. <SUP>9&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.65</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Securities Purchase Agreement, by and among Mandalay Media, Inc. and the investors set forth therein, dated as of October 23, 2008. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.66</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Note, dated October 23, 2008, issued by Mandalay Media, Inc. to Nathaniel MacLeitch, as the Sellers&rsquo; Representative. <SUP>9</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.67</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Management Agreement dated September 14, 2006 between the Company and Trinad Management, LLC. <SUP>5</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.68</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Commercial Lease Agreement, dated as of March 1, 2007, between Trinad Management LLC and Mediavest, Inc. <SUP>16</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.69</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">First Amendment to Promissory Note, dated August 14, 2009, issued by Mandalay Media, Inc. to Nathaniel MacLeitch, as the Sellers&rsquo; Representative.<SUP>21</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.70</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Severance and Release Agreement, by and among Mandalay Media, Inc., Twistbox Entertainment, Inc. and Ian Aaron, dated as of October 7, 2009.<SUP>22&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.71</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Waiver to Senior Secured Note by and among Mandalay Media, Inc., Twistbox Entertainment, Inc. and ValueAct&nbsp;SmallCap Master Fund, L.P., dated as of January 25, 2010.<SUP>24</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.72</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Agreement, dated as of June 21, 2010, between ValueAct SmallCap Master Fund, L.P., NeuMedia, Inc., Jonathan Cresswell, Nathaniel MacLeitch, Robert Ellin, Trinad Management, LLC, Trinad Capital Master Fund, Ltd. and the Guber Family Trust. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.73</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Mutual Release, dated as of June 21, 2010, among ValueAct SmallCap Master Fund, L.P., Antiphony (Management Holdings) Limited, Nathaniel MacLeitch, Jonathan Cresswell, NeuMedia, Inc., Twistbox Entertainment, Inc., Peter Guber, Robert Ellin, Paul Schaeffer, Adi McAbian, Richard Spitz, Ray Schaaf, Keith McCurdy, Russell Burke, James Lefkowitz and Trinad Management. <SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.74</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Subordination Agreement, dated as of June 21, 2010, by and between Trinad Capital Master Fund, Ltd., and ValueAct SmallCap Master Fund, L.P., and each of NeuMedia, Inc. and Twistbox Entertainment, Inc.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.75</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Deed Poll Release, dated as of June 21, 2010, between NeuMedia, Inc., Twistbox Entertainment, Inc., James Lefkowitz and Russell Burke.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.76</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Non-Competition Agreement, dated as of June 21, 2010, among NeuMedia, Inc., Antiphony (Management Holdings) Limited,&nbsp;&nbsp;Jack Cresswell and Nate MacLeitch.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.77</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Earn-Out Termination Letter Agreement, dated as of June 21, 2010, among ValueAct SmallCap Master Fund, L.P., NeuMedia, Inc., Jonathan Cresswell, Nathaniel MacLeitch and certain other parties.<SUP>25</SUP></TD></TR>
</TABLE>
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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">10.78</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; vertical-align: bottom; text-align: justify">Amended and Restated Guaranty, dated as of June 21, 2010, by NeuMedia, Inc. to ValueAct SmallCap Master Fund, L.P.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.79</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter Agreement, dated as of June 21, 2010, between ValueAct SmallCap Master Fund, L.P., NeuMedia, Inc., Rob Ellin and Trinad Management, LLC.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.80</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amended and Restated Guarantee and Security Agreement, dated as of June 21, 2010, among Twistbox Entertainment, Inc., NeuMedia, Inc. and each of its subsidiaries identified on Schedule I as being a subsidiary guarantor, the investors party thereto and ValueAct SmallCap Master Fund, L.P.<SUP>25</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.81</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Guarantee and Security Agreement, dated as of June 21, 2010, among Twistbox Entertainment, Inc., NeuMedia, Inc., each of the subsidiaries thereof party thereto, the investors party thereto and Trinad Capital Management, LLC.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.82</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Confidential Separation, Transition and Release Agreement, dated as of February 22, 2011, by and between Ray Schaaf and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.83</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Restricted Stock Agreement, dated as of February 22, 2011, by and between Ray Schaaf and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.84</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Confidential Separation, Transition and Release Agreement, dated as of February 21, 2011, by and between Russell Burke and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.85</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Non-Qualified Stock Option Agreement, dated as of February 21, 2011, by and between Russell Burke and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.86</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Amendment to Employment Letter Agreement, dated as of February 21, 2011, by and between James Lefkowitz and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.87</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Non-Qualified Stock Option Agreement, dated as of February 21, 2011, by and between James Lefkowitz and NeuMedia, Inc.<SUP>26&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.88</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Subordinated Convertible Promissory Note, dated December 23, 2011, made by NeuMedia, Inc. in favor of Adage Capital Management L.P.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.89</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Warrant, dated December 23, 2011, made by NeuMedia, Inc. in favor of Adage Capital Management L.P.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.90</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter Agreement, dated December 23, 2011, made by and between NeuMedia, Inc. and Adage Capital Management L.P.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.91</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Letter Agreement, dated December 28, 2011, made by and between NeuMedia, Inc. and Trinad Management, LLC.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.92</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Second Amended and Restated Senior Subordinated Secured Note due June 21, 2013, made by Twistbox Entertainment, Inc. in favor of Taja, LLC.<SUP> 29&dagger;</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">10.93</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%">Restricted Stock Agreement, dated January 1, 2011.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.94</TD>
    <TD>&nbsp;</TD>
    <TD>Employment Agreement, dated as of December 28, 2011, by and between NeuMedia, Inc. and Peter Adderton.<SUP> </SUP>(27)&dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.95</TD>
    <TD>&nbsp;</TD>
    <TD>Asset Purchase Agreement, dated as of December 28, 2011, by and among Digital Turbine, Inc., Digital Turbine Group, LLC, Peter Adderton and Fred Golding.<SUP> </SUP>(27)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.96</TD>
    <TD>&nbsp;</TD>
    <TD>Executive Chairman Agreement, dated as of December 28, 2011, by and between NeuMedia, Inc. and Robert Ellin.<SUP> </SUP>(27) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.97</TD>
    <TD>&nbsp;</TD>
    <TD>Convertible Note Financing Binding Term Sheet, effective March 1, 2012 with TAJA, LLC.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.98</TD>
    <TD>&nbsp;</TD>
    <TD>Convertible Note Financing Binding Term Sheet, effective March 1, 2012 with Adage Capital Partners, L.P.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.99</TD>
    <TD>&nbsp;</TD>
    <TD>Form of Equity Financing Binding Term Sheet, effective as of March 1, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.100</TD>
    <TD>&nbsp;</TD>
    <TD>Form of Equity Financing Binding Term Sheet, dated as of March 5, 2012*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.101</TD>
    <TD>&nbsp;</TD>
    <TD>Form of Indemnification with Directors and Executive Officers. (30) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.102</TD>
    <TD>&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011, between Mandalay Digital Group, Inc. and Peter Adderton, for 9,037,500 shares of common stock. (31) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.103</TD>
    <TD>&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011, between Mandalay Digital Group, Inc. and Robert Ellin, for 3,600,000 shares of common stock. (31) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.104</TD>
    <TD>&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011 between Mandalay Digital Group, Inc. and Robert Ellin, for 3,400,000 shares of common stock. (31) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.105</TD>
    <TD>&nbsp;</TD>
    <TD>Restricted Stock Agreement, dated December 28, 2011, between Mandalay Digital Group, Inc. and Robert Ellin, for 1,000,000 shares of common stock. (31) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.106</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restricted Stock Agreement, dated May 18, 2012, between Mandalay Digital Group, Inc. and Peter Adderton. (31) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.107</TD>
    <TD>&nbsp;</TD>
    <TD>Amendment to Restricted Stock Agreements, dated May 18, 2012, between Mandalay Digital Group, Inc. and Robert Ellin. (31) &dagger;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.108</TD>
    <TD>&nbsp;</TD>
    <TD>Amended and Restated 2011 Equity Incentive Plan of Mandalay Digital Group, Inc. (31)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.109</TD>
    <TD>&nbsp;</TD>
    <TD>Amended and Restated 2011 Equity Incentive Plan Notice of Grant and Restricted Stock Agreement of Mandalay Digital Group, Inc. (31)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.110</TD>
    <TD>&nbsp;</TD>
    <TD>Amended and Restated 2011 Equity Incentive Plan Notice of Grant and Stock Option Agreement of Mandalay Digital Group, Inc. (31)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.111</TD>
    <TD>&nbsp;</TD>
    <TD>Form of Equity Financing Binding Term Sheet, dated as of June 7, 2012.*</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify; width: 93%">&nbsp;</TD></TR>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">21</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 93%; vertical-align: bottom; text-align: justify">List of Subsidiaries <SUP>*</SUP></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>31.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certification of Peter Adderton, Principal Executive Officer. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>31.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certification of&nbsp;Lisa Higgins-Lucero, Principal Financial Officer. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>32.1</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certification of Peter Adderton, Principal Executive Officer pursuant to U.S.C. Section 1350. *</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>32.2</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: justify">Certification of Lisa Higgins-Lucero, Principal Financial Officer pursuant to U.S.C. Section 1350. *</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>* Filed herewith&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD><SUP>&dagger;
</SUP>Management contract or compensatory plan or arrangement&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right">(1)&nbsp; </TD>
    <TD STYLE="width: 93%">Incorporated by reference to the Registrant&rsquo;s Annual Report on Form 10-KSB (File No. 000-10039), filed with the Commission on December 2, 2005.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(2)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on November 14, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(3)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on January 2, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(4)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on February 12, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(5)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on September 20, 2006.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(6)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on October 18, 2006.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(7)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on January 3, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(8)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on August 9, 2006.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(9)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on October 27, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(10)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on March 28, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(11)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on March 20, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(12)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on March 23, 2006.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(13)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on July 30, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(14)&nbsp;</TD>
    <TD>Incorporated by reference to the Registrant&rsquo;s Current Report on Form 8-K (File No. 000-10039), filed with the Commission on July 3, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(15)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on October 15, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(16)&nbsp;</TD>
    <TD>Incorporated by reference to our Registrant&rsquo;s Transition Report on Form 10-KT (File No. 000-10039), filed with the Commission on July 15, 2008.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 3%; text-align: right">(17)&nbsp;</TD>
    <TD STYLE="width: 93%">Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on May 16, 2007.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(18)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on June 2, 2008.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(19)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on February 23, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(20)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on June 4, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(21)&nbsp;</TD>
    <TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039), filed with the Commission on August 14, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(22)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on October 14, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(23)&nbsp;</TD>
    <TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039), filed with the Commission on November 16, 2009.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(24)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on January 28, 2010.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(25)&nbsp;</TD>
    <TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on June 23, 2010.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">(26)&nbsp;</TD>
    <TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039), filed with the Commission on February 22, 2011.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: right">(27)&nbsp;</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039 ), filed with the Commission on January 4,
2012.</TD></TR>               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: right">(28)&nbsp;</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on February 7,
2012.</TD></TR>               <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: right">(29)&nbsp;</TD><TD>Incorporated by reference to our Quarterly Report on Form 10-Q (File No. 000-10039 ), filed with the Commission on February
24, 2012.</TD></TR>                   <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: right">(30)&nbsp;</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039 ), filed with the Commission on May 10, 2012.</TD></TR>                                                                                                                                                                                                      <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>

<TR STYLE="vertical-align: top">
<TD></TD><TD STYLE="text-align: right">(31)&nbsp;</TD><TD>Incorporated by reference to our Current Report on Form 8-K (File No. 000-10039), filed with the Commission on May 30, 2012.</TD></TR>                                                                                                                                                                                                                       <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD>(c) Financial Statement Schedules. Reference is made to Item 15(a)(2) above.&nbsp;</TD></TR>
</TABLE>



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<P STYLE="margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-indent: -1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Mandalay Digital Group, Inc. and Subsidiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(formerly known as NeuMedia, Inc.)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>March 31, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 90%; vertical-align: top; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 10%; vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; font-weight: bold; text-align: right"><B>Page(s)</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">Consolidated Balance Sheets as of March 31, 2012&nbsp;&nbsp;and March 31, 2011</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">F-3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">Consolidated Statements of Operations for the years ended March 31, 2012 and March 31, 2011</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">F-4</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">Consolidated Statements of Stockholders&rsquo; Equity and Comprehensive Loss for the years ended March 31, 2012 and March 31, 2011</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">F-5</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">Consolidated Statements of Cash Flows for the years ended March 31, 2012 and March 31, 2011</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">F-6</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top; text-autospace: ideograph-numeric ideograph-other">Notes to Consolidated Financial Statements</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; text-autospace: ideograph-numeric ideograph-other; text-align: right">F-7 to
    F-49</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Report of Independent Registered Public
Accounting Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Board of Directors and Stockholders</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have audited the accompanying consolidated balance sheets
of Mandalay Digital Group, Inc. and Subsidiaries (collectively, the &ldquo;Company&rdquo;) as of March 31, 2012 and 2011, and the
related consolidated statements of operation, stockholders&rsquo; equity and comprehensive loss, and cash flows for the years then
ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion
on these financial statements based on our audits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We conducted our audits in accordance with the standards of
the Public Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were
we engaged to perform an audit of its internal control over financial reporting. Our audits included consideration of internal
control over financial reporting as a basis for designing audit procedures that are appropriate in the control over financial reporting.
Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In our opinion, the consolidated financial statements referred
to above present fairly, in all material respects, the financial position of the Company as of March 31, 2012 and 2011, and the
results of its operations and its cash flows for the years then ended in conformity with U.S. generally accepted accounting principles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ SingerLewak LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Los Angeles, California</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">June 29, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Balance Sheets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In thousands, except per share amounts)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">ASSETS</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 9pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">8,799</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">845</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Accounts receivable, net of allowances of $108 and $96, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,190</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,699</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Prepaid expenses and other current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">120</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">296</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,109</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,840</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">230</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">388</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Intangible assets, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">817</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,366</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Goodwill</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,640</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,609</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0.25in; padding-bottom: 2.5pt">TOTAL ASSETS</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">14,796</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">14,203</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Current liabilities</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,051</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,807</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Accrued license fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,155</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,189</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Accrued compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">582</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">371</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Current portion of long term debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">75</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">273</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Warrant derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">223</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Other current liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">705</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,261</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,020</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,124</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Long term debt and convertible debt, net of discounts of $2,147 and $1,856, respectively</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,077</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,461</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">9,097</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">11,585</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Stockholders' equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt">Preferred stock Series A convertible preferred stock at $0.0001 par value; 100,000 shares authorized, issued and outstanding (liquidation preference of $1,000,000)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt">Common stock, $0.0001 par value: 100,000,000 shares authorized; 82,656,945 issued and 76,581,945 outstanding at March 31, 2012; 45,047,224 issued and 41,274,225 outstanding at March 31, 2011;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">133,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">99,612</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Treasury Stock (3,772,999 shares at March 31, 2012 and 2011)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(71</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(71</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Accumulated other comprehensive loss</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(194</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(291</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(127,443</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(96,736</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total stockholders' equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">5,699</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,618</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-left: 0.25in; padding-bottom: 2.5pt">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">14,796</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">14,203</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In thousands, except per share amounts)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">12 Months Ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">12 Months Ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left; padding-bottom: 1pt">Net revenues</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">7,230</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">9,186</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Cost of revenues</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">License fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,643</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,915</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Other direct cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">230</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">295</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,873</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,210</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Gross profit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,357</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">5,976</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Operating expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Product development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,154</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,528</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Sales and marketing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">873</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,142</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">General and administrative</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,013</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,698</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Amortization of intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">54</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Impairment of intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,319</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,482</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt; padding-bottom: 1pt">Impairment of goodwill</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,969</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,546</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Total operating expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">21,328</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">17,450</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Loss from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(16,971</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(11,474</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Interest and other income / (expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Interest income/ (expense)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,497</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,761</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Foreign exchange transaction gain / (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(94</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(83</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Change in fair value of accrued derivative liabilities gain / (loss)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,447</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Loss on extinguishment of debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,004</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Gain / (loss) on settlement of debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,393</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(864</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt; padding-bottom: 1pt">Other income / (expense)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">15</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(2</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in; padding-bottom: 1pt">Interest and other expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(13,626</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(2,710</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loss from operations before income taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30,597</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,184</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Income tax provision</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(110</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(224</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net loss from continuing operations, net of taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(30,707</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,408</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Discontinued operations, net of taxes:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Income from discontinued operations, net of taxes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">809</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt; padding-bottom: 1pt">Gain on disposal of discontinued operations, net of taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,215</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt; padding-bottom: 1pt">Net income from discontinued operations, net of taxes</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">5,024</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Net (loss)/profit income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(30,707</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(9,384</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Other comprehensive (loss) / income:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Foreign currency translation adjustment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">97</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">128</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Comprehensive (loss) / income</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(30,610</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(9,256</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Basic and diluted net income / (loss) per common share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.62</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.25</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 0.25in">Continuing operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.62</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.38</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 0.25in">Discontinued operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.13</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Weighted average common shares outstanding, basic and diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">49,418</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">37,664</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Weighted average common shares outstanding, diluted</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">49,418</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">37,664</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Stockholders&rsquo; Equity and
Comprehensive Loss</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In thousands, except share amounts)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Accumulated</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Additional</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Other</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Common
    Stock</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Preferred
    Stock</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Treasury</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Paid-In</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Comprehensive</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Accumulated</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Amount</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Amount</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Stock</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Capital</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Income/(Loss)</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Deficit</FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 19%; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Balance at March 31,
    2010</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">39,776,597</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">4</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">100</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">-</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">95,741</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">(419</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">(87,352</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 6%; text-align: right"><FONT STYLE="font-size: 8pt">8,074</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Net loss</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(9,384</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(9,384</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Foreign currency translation
    gain</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">128</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">128</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Deferred stock-based
    compensation</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">251</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">251</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of common stock
    as part of compensation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">300,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">75</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">75</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Stock voided as part
    of disposal of subsidiary</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(561,798</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(197</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(197</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Stock acquired by company
    as part of disposal of subsidiary</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(3,540,574</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt"></FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(71</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(1,168</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(1,239</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of convertible
    debt and associated warrants</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Repricing of options</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">113</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">113</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of warrants
    to vendor for services rendered</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">76</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">76</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Repricing of warrants</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">172</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">172</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Stock issued for services</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">5,300,000</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2,049</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2,049</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD><FONT STYLE="font-size: 8pt">Balance at March 31, 2011</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">41,274,225</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(71</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">99,612</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(291</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(96,736</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,618</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Net loss</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(30,707</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(30,707</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Foreign currency translation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">97</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">97</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of common stock
    as part of compensation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">347,244</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">69</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">69</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of restricted
    stock for services</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">23,100,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt"></FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,666</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,668</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of warrants
    to vendor for services rendered</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">133</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">133</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of warrants
    related to convertible debt</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,374</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">4,374</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of restricted
    stock for acquisition of assets</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">31</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">31</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Reclassification of derivative liabilities</font></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,034</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">9,034</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of common stock for cash</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,857,143</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,700</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,700</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">Issuance of restricted
    stock as part of compensation</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,375,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">568</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">568</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -0.1in; padding-left: 16.55pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 16.55pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Convertible debt converted
    to stock</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">12,653,333</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">10,113</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">10,114</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">Balance at March 31, 2012</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">82,656,945</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">7</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">100,000</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">100</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">(71</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">133,300</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">(194</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">(127,443</FONT></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double"><FONT STYLE="font-size: 8pt">5,699</font></TD><TD STYLE="text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Consolidated Statements of Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(In thousands)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Cash flows from operating activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; padding-left: 9pt">Net (loss)/income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(30,707</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(9,384</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Adjustments to reconcile net income/(loss) to net cash used in operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -0.1in; padding-left: 0.35in">Gain on disposal of discontinued operations, net of taxes, net of impact of foreign currency translation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(4,215</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">429</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">638</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Amortization of debt discount</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,709</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">644</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Loss on extinguishment of debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,004</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Settled debt with supplier</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,393</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Finance costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,194</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">PIK interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">575</TD><TD STYLE="text-align: left"></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Allowance for doubtful accounts</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(307</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Stock-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">326</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Impairment of goodwill and intangibles</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,288</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,028</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Fair Value of warrants and conversion options issued for financing costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,255</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Warrants issued for services</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">133</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">76</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">Stock issued for services</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,302</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,049</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">Repricing of options and compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">113</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">Repricing of warrants</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">172</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Change in fair value of derivative liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,447</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt">(Increase) / decrease in assets, net of effect of disposal of subsidiary:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt">Accounts receivable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,521</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,303</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt">Prepaid expenses and other current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">176</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">160</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt">Increase / (decrease) in liabilities, net of effect of disposal of subsidiary:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">637</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(497</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt">Accrued license fees</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(34</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(625</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt">Accrued compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">211</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(166</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt; padding-bottom: 1pt">Other liabilities and other items</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(556</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(224</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Net cash used in operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,829</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,909</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Cash flows from investing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt">Purchase of property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(17</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(88</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt">Transaction costs</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(906</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 27pt; padding-bottom: 1pt">Cash remaining with disposed subsidiary</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(641</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 9pt">Net cash used in investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(17</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,635</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Cash flows from financing activities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 27pt">Proceeds from new convertible debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 27pt; padding-bottom: 1pt">Issuance of shares for cash</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,700</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,700</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,500</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Effect of exchange rate changes on cash and cash equivalents</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Net change in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,954</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,046</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Cash and cash equivalents, beginning of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">845</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,891</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents, end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,799</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">845</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental disclosure of cash flow information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Taxes paid</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">119</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">226</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Interest paid</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,763</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental disclosure of non-cash investing and financing activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Conversion of convertible note and interest to shares of common stock</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,852</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Issuance of warrants with convertible debenture</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,636</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Beneficial conversion feature associated with convertible debenture</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">8,915</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,496</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 9pt">Reclassify derivative liability to additional paid in capital</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">13,786</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notes to Audited Consolidated Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(all numbers in thousands except per share amounts)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>1.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Organization</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. (&ldquo;we&rdquo;, &ldquo;us&rdquo;,
&ldquo;our&rdquo;, the &ldquo;Company&rdquo; or &ldquo;Mandalay Digital&rdquo;), formerly NeuMedia, Inc. (&ldquo;NeuMedia&rdquo;),
formerly Mandalay Media, Inc. (&ldquo;Mandalay Media&rdquo;) and formerly Mediavest, Inc. (&ldquo;Mediavest&rdquo;), was originally
incorporated in the state of Delaware on November 6, 1998 under the name eB2B Commerce, Inc. On April 27, 2000, it merged into
DynamicWeb Enterprises Inc., a New Jersey corporation, the surviving company, and changed its name to eB2B Commerce, Inc. On April
13, 2005, the Company changed its name to Mediavest, Inc.&nbsp;&nbsp;Through January 26, 2005, the Company and its former subsidiaries
were engaged in providing business-to-business transaction management services designed to simplify trading between buyers and
suppliers. The Company was inactive from January 26, 2005 until its merger with Twistbox Entertainment, Inc., February 12, 2008.&nbsp;&nbsp;On
September 14, 2007, Mediavest was re-incorporated in the state of Delaware as Mandalay Media, Inc. On May 11, 2010 the Company
merged with a wholly-owned, newly formed subsidiary, changing its name to NeuMedia, Inc. On February 6, 2012, the Company merged
with a wholly-owned, newly formed subsidiary, changing its name to Mandalay Digital Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Twistbox is a global publisher and distributor of branded entertainment
content and services primarily focused on enabling the development, distribution and billing of content across mobile networks.&nbsp;&nbsp;Twistbox
publishes and distributes its content in a number of countries.&nbsp;&nbsp;Since operations began in 2003, Twistbox has developed
an intellectual property portfolio that includes mobile rights to global brands and content from film, television and lifestyle
media companies. Twistbox has built a proprietary mobile publishing platform that includes: tools that automate device management
for the distribution and billing of images and video; a mobile games development and distribution platform that automates the porting
of mobile games and applications to multiple handsets; and a content standards and ratings system globally adopted by major wireless
carriers to assist with the responsible deployment of age-verified content.&nbsp;&nbsp;Twistbox has distribution and service agreements
with many of the largest mobile operators in the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Twistbox is headquartered in the Los Angeles area and has offices
in Europe that provide local sales and marketing support for both mobile operators and third party distribution in their respective
regions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On October 23, 2008 the Company completed an acquisition of
100% of the issued and outstanding share capital of AMV Holding Limited, a United Kingdom private limited company (&ldquo;AMV&rdquo;),
and 80% of the issued and outstanding share capital of Fierce Media Ltd (&ldquo;Fierce&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AMV is a leading mobile media and marketing company delivering
games and lifestyle content directly to consumers in the United Kingdom, Australia, South Africa and various other European countries.
AMV markets its well established branded services through a unique Customer Relationship Management platform that drives revenue
through mobile internet, print and TV advertising. AMV is headquartered in Marlow, outside of London in the United Kingdom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 10, 2010, an administrator was appointed over AMV Holding
Limited in the UK, at the request of the Company&rsquo;s senior debt holder. As from that date, AMV and its subsidiaries&nbsp;are
considered to be a discontinued operation. AMV and its subsidiaries were subsequently disposed, as set out in Note 8 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 11, 2010, Mandalay Media merged into its wholly-owned,
newly formed subsidiary, NeuMedia Inc. (&ldquo;NeuMedia&rdquo;), with NeuMedia as the surviving corporation. NeuMedia issued: (1)
one new share of common stock&nbsp;in exchange for each share of Mandalay Media&rsquo;s outstanding common stock and (2) one new
share of preferred stock&nbsp;in exchange for each share of Mandalay Media&rsquo;s outstanding preferred stock as of May 11, 2010.
NeuMedia&rsquo;s preferred and common stock&nbsp;had the same status and par value as the respective stock of Mandalay Media and
NeuMedia acceded to all the rights, acquired all the assets and assumed all of the liabilities of Mandalay Media.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June 21, 2010, the Company signed and closed an agreement
whereby ValueAct and the AMV Founders, acting through a newly formed company, acquired the operating subsidiaries of AMV (the &ldquo;Assets&rdquo;)
in exchange for the release of $23,231 of secured indebtedness, comprising of a release of all amounts due and payable under the
AMV Note and all of the amounts due and payable under the ValueAct Note (as defined below) except for $3,500 in principal. The
Company retained all assets and liabilities of Twistbox and the Company other than the Assets. See Note 8 for further discussion
on the discontinued operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 28, 2011, the Company issued 50,000 shares of the
Company&rsquo;s common stock as part of the consideration for in exchange for the assets of Digital Turbine Group, LLC, the developer
of Digital Turbine (&ldquo;DT&rdquo;), a technology platform that allows media companies, mobile carriers, and their OEM handset
partners to take advantage of multiple mobile operating systems across multiple networks, and offers solutions that allow them
to maintain their own branding and personalized, one-to-one relationships with each end-user. DT&rsquo;s cross-platform user interface
and multimedia management system for carriers and OEMs can be integrated with different operating systems to provide a more organized
and unified experience for end-users of mobile content across search, discovery, billing, and delivery. Other aspects of the platform,
such as a smart content discovery toolbar, allows carriers and OEMs to control the data presented to their users while giving the end-user a more efficient way of finding and purchasing the desired content.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1%"></TD><TD STYLE="width: 5%; text-align: left"><B>2.</B></TD><TD STYLE="text-align: justify; width: 94%"><B>Liquidity</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accompanying consolidated financial statements have been
prepared in conformity with accounting principles generally accepted in the United States of America. As reflected in the accompanying
consolidated financial statements, the Company has losses from operations and negative cash flows from operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The primary
sources of liquidity have historically been issuance of common and preferred stock and borrowings under credit facilities. In
fiscal year 2012, the Company raised $9.7 million through issuance of convertible debt and equity financings and through restructuring
existing debt to convertible debt. Until we become cash flow positive, we anticipate that our primary sources of liquidity will
be cash generated by our operating activities, as well as further borrowings or further capital raises. Assuming there are no
further changes in expected sales and expense trends subsequent to March 31, 2012, the Company believes that its cash position
will be sufficient to continue operations for the foreseeable next twelve months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>3.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Summary of Significant Accounting Policies</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Basis of Presentation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of America (&ldquo;GAAP&rdquo;) and pursuant to the rules and regulations
of the Securities and Exchange Commission (&ldquo;SEC&rdquo;) for annual financial statements.&nbsp;&nbsp;The financial statements,
in the opinion of management, include all adjustments necessary for a fair statement of the results of operations, financial position
and cash flows for each period presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Principles of Consolidation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The consolidated financial statements include the accounts of
the Company and our wholly-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.
Discontinued operations have been treated in accordance with Financial Accounting Standards Board (&ldquo;FASB&rdquo;) Accounting
Standards Codification (&ldquo;ASC&rdquo;)&nbsp;&nbsp;205-20, <I>Discontinued Operations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Revenue Recognition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s revenues are derived primarily by licensing
material and software in the form of products (Image Galleries, Wallpapers, video, WAP Site access, Mobile TV), developing and
maintaining carrier platforms, mobile advertising, mobile billing and mobile games. License arrangements with the end user can
be on a perpetual or subscription basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A perpetual license gives an end user the right to use the product,
image or game on the registered handset on a perpetual basis. A subscription license gives an end user the right to use the product,
image or game on the registered handset for a limited period of time, ranging from a few days to as long as one month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company either markets and distributes its products directly
to consumers, or distributes products through mobile telecommunications service providers (&ldquo;carriers&rdquo;), in which case
the carrier markets the product, images or games to end users. License fees for perpetual and subscription licenses are usually
billed upon download of the product, image or game by the end user. In the case of subscription licenses, many subscriber agreements
provide for automatic renewal until the subscriber opts-out, while others provide opt-in renewal. In either case, subsequent billings
for subscription licenses are generally billed monthly. The Company applies the provisions of FASB ASC 985-605, <I>Software Revenue
Recognition</I>, to all transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Revenues are recognized from the Company&rsquo;s products, images
and games when persuasive evidence of an arrangement exists, the product, image or game has been delivered, the fee is fixed or
determinable, and the collection of the resulting receivable is probable. For both perpetual and subscription licenses, management
considers a license agreement to be evidence of an arrangement with a carrier or aggregator and a &ldquo;clickwrap&rdquo; agreement
to be evidence of an arrangement with an end user. For these licenses, the Company defines delivery as the download of the product,
image or game by the end user.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company estimates revenues from carriers in the current
period when reasonable estimates of these amounts can be made. Most carriers only provide detailed sales transaction data on a
one to two month lag. Estimated revenue is treated as unbilled receivables until the detailed reporting is received and the revenues
can be billed. Some carriers provide reliable interim preliminary reporting and others report sales data within a reasonable time
frame following the end of each month, both of which allow the Company to make reasonable estimates of revenues and therefore to
recognize revenues during the reporting period when the end user licenses the product, image or game. Determination of the appropriate
amount of revenue recognized involves judgments and estimates that the Company believes are reasonable, but it is possible that
actual results may differ from the Company&rsquo;s estimates. The Company&rsquo;s estimates for revenues include consideration
of factors such as preliminary sales data, carrier-specific historical sales trends, volume of activity on company monitored sites,
seasonality, time elapsed from launch of services or product lines, the age of games and the expected impact of newly launched
games, successful introduction of newer and more advanced handsets, promotions during the period and economic trends. When the
Company receives the final carrier reports, to the extent not received within a reasonable time frame following the end of each
month, the Company records any differences between estimated revenues and actual revenues in the reporting period when the Company
determines the actual amounts. Revenues earned from certain carriers may not be reasonably estimated. If the Company is unable
to reasonably estimate the amount of revenues to be recognized in the current period, the Company recognizes revenues upon the
receipt of a carrier revenue report and when the Company&rsquo;s portion of licensed revenues are fixed or determinable and collection
is probable. To monitor the reliability of the Company&rsquo;s estimates, management, where possible, reviews the revenues by country,
by carrier and by product line on a regular basis to identify unusual trends such as differential adoption rates by carriers or
the introduction of new handsets. If the Company deems a carrier not to be creditworthy, the Company defers all revenues from the
arrangement until the Company receives payment and all other revenue recognition criteria have been met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with FASB ASC 605-45, <I>Reporting Revenue Gross
as a Principal Versus Net as an Agent</I>, the Company recognizes as revenues the amount the carrier reports as payable upon the
sale of the Company&rsquo;s products, images or games. The Company has evaluated its carrier agreements and has determined that
it is not the principal when selling its products, images or games through carriers. Key indicators that it evaluated to reach
this determination include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 3%; text-autospace: ideograph-numeric ideograph-other"><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT></TD>
    <TD STYLE="width: 87%; text-autospace: ideograph-numeric ideograph-other">wireless subscribers directly contract with the carriers, which have most of the service interaction and are generally viewed as the primary obligor by the subscribers;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other"><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">carriers generally have significant control over the types of content that they offer to their subscribers;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other"><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">carriers are directly responsible for billing and collecting fees from their subscribers, including the resolution of billing disputes;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other"><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">carriers generally pay the Company a fixed percentage of their revenues or a fixed fee for each game;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other"><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">carriers generally must approve the price of the Company&rsquo;s content in advance of their sale to subscribers, and the Company&rsquo;s more significant carriers generally have the ability to set the ultimate price charged to their subscribers; and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other"><FONT STYLE="font-family: Wingdings 2">&mdash;</FONT></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">the Company has limited risks, including no inventory risk and limited credit risk.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For direct to consumer business, revenue is earned by delivering
a product or service directly to the end user of that product or service. In those cases, the Company records as revenue the amount
billed to that end user and recognizes the revenue when persuasive evidence of an arrangement exists, the product, image or game
has been delivered, the fee is fixed or determinable, and the collection of the resulting receivable is probable. Substantially
all of our discontinued operations represents direct to consumer business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Net (Loss) per Common Share</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">Basic loss per common share is
computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding for
the period. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average
number of common shares outstanding for the period plus dilutive common stock equivalents, using the treasury stock method. Potentially
dilutive shares</FONT><B> </B><FONT STYLE="font-size: 10pt">from stock options and warrants and the conversion of the Series A
preferred stock were as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 50%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Year Ended</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">March 31,</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Potentially dilutive shares</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,943</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,992</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Comprehensive Loss</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Comprehensive loss consists of two components, net loss
and other comprehensive income. Other comprehensive income refers to gains and losses that under generally accepted accounting
principles are recorded as an element of stockholders&rsquo; equity, but are excluded from net income. The Company&rsquo;s other
comprehensive income currently includes only foreign currency translation adjustments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Cash and Cash Equivalents</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company considers all highly liquid short-term investments
purchased with a maturity of three months or less to be cash equivalents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Accounts Receivable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company maintains reserves for potential credit losses on
accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations,
customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these
reserves.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Content Provider Licenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Content Provider License Fees</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s royalty expenses consist of fees that it
pays to branded content owners for the use of their intellectual property in the development of the Company&rsquo;s games and other
content, and other expenses directly incurred in earning revenue. Royalty-based obligations are either, accrued as incurred and
subsequently paid, or in the case of content acquisitions, paid in advance and capitalized on our balance sheet as prepaid license
fees. These royalty-based obligations are expensed to cost of revenues either at the applicable contractual rate related to that
revenue or over the estimated life of the content acquired. Minimum guarantee license payments that are not recoupable against
future royalties are capitalized and amortized over the lesser of the estimated life of the branded title or the term of the license
agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Content Acquired</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Amounts paid to third party content providers as part of an
agreement to make content available to the Company for a term or in perpetuity, without a revenue share, have been capitalized
and are included in the balance sheet as prepaid expenses. These balances will be expensed over the estimated life of the content
acquired.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Software Development Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company applies the principles of FASB ASC 985-20, <I>Accounting
for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed </I>(&ldquo;ASC 985-20&rdquo;). ASC 985-20 requires
that software development costs incurred in conjunction with product development be charged to research and development expense
until technological feasibility is established. Thereafter, until the product is released for sale, software development costs
must be capitalized and reported at the lower of unamortized cost or net realizable value of the related product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has adopted the &ldquo;tested working model&rdquo;
approach to establishing technological feasibility for its products and games. Under this approach, the Company does not consider
a product or game in development to have passed the technological feasibility milestone until the Company has completed a model
of the product or game that contains essentially all the functionality and features of the final game and has tested the model
to ensure that it works as expected. To date, the Company has not incurred significant costs between the establishment of technological
feasibility and the release of a product or game for sale; thus, the Company has expensed all software development costs as incurred.
The Company considers the following factors in determining whether costs can be capitalized: the emerging nature of the mobile
market; the gradual evolution of the wireless carrier platforms and mobile phones for which it develops products and games; the
lack of pre-orders or sales history for its products and games; the uncertainty regarding a product&rsquo;s or game&rsquo;s revenue-generating
potential; its lack of control over the carrier distribution channel resulting in uncertainty as to when, if ever, a product or
game will be available for sale; and its historical practice of canceling products and games at any stage of the development process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Product Development Costs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company charges costs related to research, design and development
of products to product development expense as incurred. The types of costs included in product development expenses include salaries,
contractor fees and allocated facilities costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Advertising Expenses</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company expenses the costs of advertising, including direct
response advertising, the first time the advertising takes place. Advertising expense for continuing operations was $7 and $116
in the years ended March 31, 2012 and 2011, respectively. Advertising expense for discontinued operations was $0 and $956 in the
years ended March 31, 2012 and 2011, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Restructuring</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company accounts for costs associated with employee terminations
and other exit activities in accordance with FASB ASC 420-10<I>, Accounting for Costs Associated with Exit or Disposal Activities</I>.
The Company records employee termination benefits as an operating expense when it communicates the benefit arrangement to the employee
and it requires no significant future services, other than a minimum retention period, from the employee to earn the termination
benefits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Presentation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to facilitate the comparison of financial information,
certain amounts reported in the prior year have been reclassified to conform to the current year presentation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Fair Value of Financial Instruments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012 and 2011, the carrying value of cash and
cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, accrued license fees, accrued
compensation, derivative liabilities and other current liabilities approximates fair value due to the short-term nature of such
instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Derivative Liabilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company applies ASC Topic 815, &ldquo;Derivatives
and Hedging,&rdquo; which provides a two-step model to determine whether a financial instrument or an embedded feature is indexed
to an issuer&rsquo;s own stock and thus able to qualify for the scope exception in ASC 815-10-15-74. Using the criteria in ASC
815, the Company determines which instruments or embedded features that require liability accounting and records the fair values
as a derivative liability. The changes in the values of the derivative liabilities are shown in the accompanying consolidated statements
of operations as &ldquo;change in fair value of accrued derivative liabilities gain / (loss).&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Foreign Currency Translation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company uses the United States dollar for financial reporting
purposes.&nbsp;&nbsp;Assets and liabilities of foreign operations are translated using current rates of exchange prevailing at
the balance sheet date. Equity accounts have been translated at their historical exchange rates when the capital transaction occurred.&nbsp;&nbsp;Statement
of Operations amounts are translated at average rates in effect for the reporting period. The foreign currency translation adjustment
gains of $97 in the year ended March 31, 2012 and $128 in the year ended March 31, 2011 has been reported as a component of comprehensive
loss in the consolidated statements of stockholders&rsquo; equity and comprehensive income. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Concentrations of Credit Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Financial instruments which potentially subject us
to concentration of credit risk consist principally of cash and cash equivalents, and accounts receivable. We have placed
cash and cash equivalents with a single high credit-quality institution. Most of our sales are made directly to large
national Mobile Phone Operators in the countries that we operate. We have a significant level of business and resulting
significant accounts receivable balance with one operator and therefore have a high concentration of credit risk with that
operator. We perform ongoing credit evaluations of our customers and maintain an allowance for potential credit losses. As of
March 31, 2012, one major customer represented approximately 39% of our gross accounts receivable outstanding, and 43% of
gross accounts receivable outstanding as of March 31, 2011. This customer accounted for 41% of our gross revenues in the year
ended March 31, 2012; and 49% in the year ended March 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Property and Equipment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Property and equipment is stated at cost.&nbsp;&nbsp;Depreciation
and amortization is calculated using the straight-line method over the estimated useful lives of the related assets. Estimated
useful lives are the lesser of 8 to 10 years or the term of the lease for leasehold improvements and 5 years for other assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Goodwill and Indefinite Life Intangible Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Goodwill represents the excess of cost over fair value of net
assets of businesses acquired. In accordance with FASB ASC 350-20 <I>Goodwill and Other Intangible Assets</I>, the value assigned
to goodwill and indefinite lived intangible assets, including trademarks and tradenames, is not amortized to expense, but rather
they are evaluated at least on an annual basis to determine if there are potential impairments. If the fair value of the reporting
unit is less than its carrying value, an impairment loss is recorded to the extent that the implied fair value of the reporting
unit goodwill is less than the carrying value. If the fair value of an indefinite lived intangible (such as trademarks and trade
names) is less than its carrying amount, an impairment loss is recorded. Fair value is determined based on discounted cash flows,
market multiples or appraised values, as appropriate. Discounted cash flow analysis requires assumptions about the timing and amount
of future cash inflows and outflows, risk, the cost of capital, and terminal values. Each of these factors can significantly affect
the value of the intangible asset. The estimates of future cash flows, based on reasonable and supportable assumptions and projections,
require management&rsquo;s judgment. Any changes in key assumptions about the Company&rsquo;s businesses and their prospects, or
changes in market conditions, could result in an impairment charge. Some of the more significant estimates and assumptions inherent
in the intangible asset valuation process include: the timing and amount of projected future cash flows; the discount rate selected
to measure the risks inherent in the future cash flows; and the assessment of the asset&rsquo;s life cycle and the competitive
trends impacting the asset, including consideration of any technical, legal or regulatory trends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the year ended March 31, 2012, the Company determined that
there was an impairment of goodwill, amounting to $2,969.&nbsp;&nbsp;In the year ended March 31, 2011, the Company determined that
there was an impairment of goodwill, amounting to $1,546. In performing the related valuation analysis, the Company used various
valuation methodologies including probability weighted discounted cash flows, comparable transaction analysis, and market capitalization
and comparable company multiple comparison. The impairment is detailed in Note 9 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Impairment of Long-Lived Assets and Finite Life Intangibles</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Long-lived assets, including, intangible assets subject to amortization
primarily consist of customer lists, license agreements and software that have been acquired are amortized using the straight-line
method over their useful&nbsp;life ranging from five to eight years and are reviewed for impairment in accordance with FASB ASC
360-10, <I>Accounting for the Impairment or Disposal of Long-Lived Assets</I>, whenever events or changes in circumstances indicate
that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison
of the carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets
are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets
exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less
costs to sell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the year ended March 31, 2012, the Company determined that
there was an impairment of intangible assets amounting to $2,319. In the year ended March 31, 2011, the Company determined that
there was an impairment of intangible assets, amounting to $4,482. In performing the related valuation analysis the Company used
various valuation methodologies including probability weighted discounted cash flows, comparable transaction analysis, and market
capitalization and comparable company multiple comparison. The impairment is detailed in Note 9 below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Income Taxes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company accounts for income taxes in accordance with FASB
ASC 740-10, <I>Accounting for Income Taxes </I>(&ldquo;ASC 740-10&rdquo;), which requires recognition of deferred tax assets and
liabilities for the expected future tax consequences of events that have been included in its financial statements or tax returns.
Under ASC 740-10, the Company determines deferred tax assets and liabilities for temporary differences between the financial reporting
basis and the tax basis of assets and liabilities along with net operating losses, if it is more likely than not the tax benefits
will be realized using the enacted tax rates in effect for the year in which it expects the differences to reverse.&nbsp;&nbsp;To
the extent a deferred tax asset cannot be recognized, a valuation allowance is established if necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">ASC 740-10 prescribes that a company should use a more-likely-than-not
recognition threshold based on the technical merits of the tax position taken. Tax positions that meet the &ldquo;more-likely-than-not&rdquo;
recognition threshold should be measured as the largest amount of the tax benefits, determined on a cumulative probability basis,
which is more likely than not to be realized upon ultimate settlement in the financial statements. We recognize interest and penalties
related to income tax matters as a component of the provision for income taxes. We do not currently anticipate that the total amount
of unrecognized tax benefits will significantly change within the next 12&nbsp;months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Stock-based compensation</B><I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have applied FASB ASC 718 <I>Share-Based Payment</I> (&ldquo;ASC
718&rdquo;) and accordingly, we record stock-based compensation expense for all of our stock-based awards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Under ASC 718, we estimate the fair value of stock options granted
using the Black-Scholes option pricing model. The fair value for awards that are expected to vest is then amortized on a straight-line
basis over the requisite service period of the award, which is generally the option vesting term. The amount of expense recognized
represents the expense associated with the stock options we expect to ultimately vest based upon an estimated rate of forfeitures;
this rate of forfeitures is updated as necessary and any adjustments needed to recognize the fair value of options that actually
vest or are forfeited are recorded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Black-Scholes option pricing model, used to estimate the
fair value of an award, requires the input of subjective assumptions, including the expected volatility of our common stock, interest
rates, dividend rates and an option&rsquo;s expected life. As a result, the financial statements include amounts that are based
upon our best estimates and judgments relating to the expenses recognized for stock-based compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company grants restricted stock subject to market or performance
conditions that vest based on the satisfaction of the conditions of the award. Unvested restricted stock entitles the grantees
to dividends, if any, with voting rights determined in each agreement. The fair market values of market condition-based awards
are determined using the Monte Carlo simulation method. The Monte Carlo simulation method is subject to variability as several
factors utilized must be estimated, including the derived service period, which is estimated based on the Company&rsquo;s judgment
of likely future performance and the Company&rsquo;s stock price volatility. The fair value of performance-based awards is determined
using the market closing price on the grant date. Derived service periods and the periods charged with compensation expense for
performance-based awards are estimated based on the Company&rsquo;s judgment of likely future performance and may be adjusted in
future periods depending on actual performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company applies the guidance enumerated in FASB ASC&nbsp;480-10,
<I>Accounting for Certain Financial Instruments with Characteristics of both Liabilities and Equity </I>(&ldquo;ASC 480-10&rdquo;)
when determining the classification and measurement of preferred stock. Preferred shares subject to mandatory redemption (if any)
are classified as liability instruments and are measured at fair value in accordance with ASC 480-10. All other issuances of preferred
stock are subject to the classification and measurement principles of ASC 480-10. Accordingly, the Company classifies conditionally
redeemable preferred shares (if any), which includes preferred shares that feature redemption rights that are either within the
control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company&rsquo;s control,
as temporary equity. At all other times, the Company classifies its preferred shares in stockholders&rsquo; equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Use of Estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosures of contingent asset and liabilities at the date of the financial statements and reported amounts
of revenue and expenses during the period. Actual results could differ from those estimates. The most significant estimates relate
to revenues for periods not yet reported by Carriers, liabilities recorded for future minimum guarantee payments under content
licenses, accounts receivable allowances, and stock-based compensation expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recently Adopted Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2010, the FASB issued updated guidance on when and
how to perform certain steps of the periodic goodwill impairment test for public entities that may have reporting units with zero
or negative carrying amounts. This guidance is effective for fiscal years, and interim periods within those years, beginning after
December 15, 2010, with early adoption prohibited. It is applicable to the Company&rsquo;s fiscal year beginning April 1, 2011.
The Company evaluated this guidance, and determined it doesn&rsquo;t have a material effect on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2010, the FASB also issued guidance to clarify the
reporting of pro forma financial information related to business combinations of public entities and to expand certain supplemental
pro forma disclosures. This guidance is effective prospectively for business combinations that occur on or after the beginning
of the fiscal year beginning on or after December 15, 2010, with early adoption permitted. It is applicable to the Company&rsquo;s
fiscal year beginning April 1, 2011. The Company evaluated this guidance, and determined it doesn&rsquo;t have a material effect
on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In May 2011, the FASB issued guidance to amend certain measurement
and disclosure requirements related to fair value measurements to improve consistency with international reporting standards. This
guidance is effective prospectively for public entities for interim and annual reporting periods beginning after December 15, 2011,
with early adoption by public entities prohibited, and is applicable to the Company&rsquo;s fiscal quarter beginning January 1,
2012. The Company evaluated this guidance, and determined it doesn&rsquo;t have a material effect on its consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In September 2011, the Financial Accounting Standards Board
(FASB) issued amended accounting guidance related to goodwill impairment testing. The new guidance provides the option to perform
a qualitative assessment by applying a more likely than not scenario to determine whether the fair value of a reporting unit is
less than its carrying amount, which may then allow a company to skip the annual two-step quantitative goodwill impairment test
depending on the determination. The amended guidance is effective for annual and interim goodwill impairment tests performed for
fiscal years beginning after December 15, 2011. Earlier adoption is permitted. Management does not expect the adoption of the amended
guidance to have a material impact on the Company&rsquo;s consolidated financial statements. The Company evaluated this guidance,
and determined it doesn&rsquo;t have a material effect on its consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Recently Issued Accounting Pronouncements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June 2011, the FASB issued new guidance on the presentation
of comprehensive income that will require a company to present components of net income and other comprehensive income in one continuous
statement or in two separate, but consecutive statements. There are no changes to the components that are recognized in net income
or other comprehensive income under current GAAP. This guidance is effective for fiscal years, and interim periods within those
fiscal years, beginning after December 15, 2011, with early adoption permitted. It is applicable to the Company&rsquo;s fiscal
year beginning April 1, 2012. The Company expects this guidance to have an impact on the disclosures related to comprehensive income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Other recent authoritative guidance issued
by the FASB (including technical corrections to the FASB Accounting Standards Codification), the American Institute of Certified
Public Accountants, and the SEC did not, or are not expected to have a material effect on the Company&rsquo;s consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>4.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Fair Value Measurements</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;The Company applies the provisions of ASC 820-10, <I>&ldquo;Fair
Value Measurements and Disclosures.&rdquo;</I> ASC 820-10 defines fair value, and establishes a three-level valuation hierarchy
for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported
in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable
estimate of their fair values because of the short period of time between the origination of such instruments and their expected
realization and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-autospace: ideograph-numeric ideograph-other; font-family: Symbol">&nbsp;</TD>
    <TD STYLE="width: 4%; text-autospace: ideograph-numeric ideograph-other; font-family: Symbol">&middot; &nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="width: 88%; text-autospace: ideograph-numeric ideograph-other">Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-family: Symbol">&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-family: Symbol">&middot; &nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%; text-autospace: ideograph-numeric ideograph-other; font-family: Symbol">&nbsp;</TD>
    <TD STYLE="width: 4%; text-autospace: ideograph-numeric ideograph-other; font-family: Symbol">&middot;</TD>
    <TD STYLE="width: 88%; text-autospace: ideograph-numeric ideograph-other">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company analyzes all financial instruments with features
of both liabilities and equity under ASC 480, <I>&ldquo;Distinguishing Liabilities From Equity&rdquo; </I>and ASC 815, <I>&ldquo;Derivatives
and Hedging.&rdquo;</I> Derivative liabilities are adjusted to reflect fair value at each period end, with any increase or decrease
in the fair value being recorded in results of operations as adjustments to fair value of derivatives. The effects of interactions
between embedded derivatives are calculated and accounted for in arriving at the overall fair value of the financial instruments.
In addition, the fair values of freestanding derivative instruments such as warrant and option derivatives are valued using the
Black-Scholes model.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company uses Level 2 inputs for its valuation methodology
for the warrant derivatives as their fair values were determined by using the Black-Scholes option pricing model based on various
assumptions. The Company&rsquo;s derivative liabilities are adjusted to reflect fair value at each period end, with any increase
or decrease in the fair value being recorded in results of operations as adjustments to fair value of derivatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At March 31, 2012, the Company determined the fair value of
the derivative warrant liability to be $452 using the Black-Scholes option pricing model with the following assumptions: 1) expected
life 4 years, 2) a risk free interest rate of .51%, 3) a dividend yield of 0% and 4) a volatility of 175%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"></P>
<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company identified the following liabilities that are required
to be presented on the balance sheet at fair value:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Measured at Fair Value on a Recurring Basis</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>Warrant&nbsp;derivative&nbsp;liabilities</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>(in&nbsp;thousands)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Total</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Level&nbsp;1</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Level&nbsp;2</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Level&nbsp;3</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 48%">March 31, 2012</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">452</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">452</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">223</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">223</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 81%; font-size: 10pt; padding-left: 0; padding-bottom: 0">Balance at March 31, 2010</TD><TD STYLE="width: 2%; font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">$</TD><TD STYLE="width: 15%; font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">-</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.24in; padding-bottom: 0">Total gains or losses (realized/unrealized) included in earnings</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">-</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.24in; padding-bottom: 0">Purchases, issuances and settlements</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">223</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="padding-bottom: 0; font-size: 10pt; text-align: left; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-left: 0; padding-bottom: 0">Balance at March 31, 2011</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">$</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">223</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.24in; padding-bottom: 0">Total gains or losses (realized/unrealized) included in earnings</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">4,447</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0.24in; padding-bottom: 0">Purchases, issuances and settlements</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">(4,218</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="padding-bottom: 0; font-size: 10pt; text-align: left; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">Balance at March 31, 2012</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">452</TD><TD STYLE="padding-bottom: 0; font-size: 10pt; text-align: left; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-left: 0; padding-bottom: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-left: 0; padding-bottom: 0">Total amount of gains and losses for the period included in earnings attributable to the change in unrealized gains or losses related to liabilities still held at March 31, 2012</TD><TD STYLE="font-size: 10pt; padding-bottom: 0; padding-left: 0">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right; padding-bottom: 0; padding-left: 0">4,447</TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 0; padding-left: 0">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The warrant derivative liability is included in the accompanying
consolidated balance sheet, and is discussed further at Note 12.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company did not identify any other recurring assets
and liabilities that are required to be presented in the consolidated balance sheets at fair value in accordance with ASC 825.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Measured at Fair Value on A Nonrecurring Basis</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain assets&nbsp;and
liabilities are measured at fair value on a nonrecurring basis; that is, the instruments are not measured at fair value on an
ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of
impairment). The following table presents the assets and liabilities carried on the balance sheet by caption and by level
within the fair value hierarchy (as described above) as of March 31, 2012 and 2011, for which a nonrecurring change in fair value
has been recorded during the years ended March 31, 2012 and 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center">Carrying&nbsp;value&nbsp;at&nbsp;March&nbsp;31,&nbsp;2012</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Cumulative&nbsp;losses</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">(in&nbsp;thousands)</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Level&nbsp;1</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Level&nbsp;2</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Level&nbsp;3</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">as&nbsp;of&nbsp;March&nbsp;31,&nbsp;2012</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Goodwill and other intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,457</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,457</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">74,058</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center">Carrying&nbsp;value&nbsp;at&nbsp;March&nbsp;31,&nbsp;2011</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Cumulative&nbsp;losses</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">(in&nbsp;thousands)</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Total</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Level&nbsp;1</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Level&nbsp;2</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Level&nbsp;3</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">as&nbsp;of&nbsp;March&nbsp;31,&nbsp;2011</TD><TD STYLE="font-weight: bold; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 35%">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">&nbsp;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Goodwill and other intangible assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,975</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,975</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">68,770</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Goodwill and other intangible assets measured
at fair value on a nonrecurring basis relate to goodwill and intangible assets that were acquired in connection with an acquisition.
Losses of $74,058 and $68,770 represent the cumulative impairment charge related to these intangible assets recorded in fiscal&nbsp;years
2012 and 2011, respectively. The fair value of these intangible assets was calculated based on the methods and criteria described
in Note 9 &ndash; Goodwill and Intangible Assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company performs a review of the fair value of goodwill
and intangible assets. Fair value is defined under ASC 820, Fair Value Measurements and Disclosures as, &ldquo;The price that would
be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date&rdquo;.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>5.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Accounts Receivable</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%">Billed</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">709</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,523</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Unbilled</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">589</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,272</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Less: allowance for doubtful accounts</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(108</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(96</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Accounts receivable</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">1,190</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">2,699</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: blue; font-weight: bold; font-style: italic">&nbsp;</TD><TD STYLE="color: blue; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="color: blue; font-weight: bold; font-style: italic">&nbsp;</TD>
    <TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: right">&nbsp;</TD><TD STYLE="color: blue; font-weight: bold; font-style: italic; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Accounts receivable of discontinued operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;The Company had no significant write-offs or recoveries
during the years ended March 31, 2012 and March 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>6.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Property and Equipment</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%">Equipment</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,310</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,298</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Furniture &amp; fixtures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">484</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">479</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Leasehold improvements</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">184</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">184</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,978</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,961</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Accumulated depreciation</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(1,748</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">(1,573</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Property and Equipment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">230</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">388</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net Property and Equipment of discontinued operations</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">-</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;Depreciation expense for the years ended March 31, 2012
and 2011 was $199 and $291, respectively for continuing operations and $0 and $27 for discontinued operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>7.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Description of Stock Plans</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 26, 2011, our board of directors adopted the 2011 Equity
Incentive Plan of NeuMedia, Inc. and on April 27, 2012, our board of directors amended and restated the plan and the related plan
documents to change references to the name of our company from the &ldquo;NeuMedia, Inc.&rdquo; to &ldquo;Mandalay Digital Group,
Inc.&rdquo; and further directed that they be submitted to stockholders for their consideration and approval. On May 23, 2012,
our stockholders approved and adopted by written consent the Amended and Restated 2011 Equity Incentive Plan of Mandalay Digital
Group, Inc. (the &ldquo;Plan&rdquo;) and the Mandalay Digital Group, Inc. Amended and Restated 2011 Equity Incentive Plan Notice
of Grant and Restricted Stock Agreement and the Mandalay Digital Group, Inc. Amended and Restated 2011 Equity Incentive Plan Notice
of Grant and Stock Option Agreement (collectively, the &ldquo;Related Documents&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 27, 2007, the stockholders of the Company adopted
the 2007 Employee, Director and Consultant Stock Plan (&ldquo;Plan&rdquo;). Under the Plan, the Company may grant up to 3,000 shares
or equivalents of common stock of the Company as incentive stock options (ISO), non-qualified options (NQO), stock grants or stock-based
awards to employees, directors or consultants, except that ISO&rsquo;s shall only be issued to employees. Generally, ISO&rsquo;s
and NQO&rsquo;s shall be issued at prices not less than fair market value at the date of issuance, as defined, and for terms ranging
up to ten years, as defined. All other terms of grants shall be determined by the board of directors of the Company, subject to
the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On February 12, 2008, the Company amended the Plan to increase
the number of shares of our common stock that may be issued under the Plan to 7,000 shares and on March 7, 2008, amended the Plan
to increase the maximum number of&nbsp;shares of the Company's common stock with respect to which stock rights may be granted in
any fiscal year to 1,100 shares. All other terms of the plan remain in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Option Plans</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes options granted under the Company&rsquo;s
2007 Employee, Director and Consultant Stock Plan equity compensation plan for the years ended March 31, 2012 and 2011:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>(in&nbsp;thousands)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Number&nbsp;of</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Weighted&nbsp;Average</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Exercise&nbsp;Price</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%">Outstanding at March 31, 2010</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">6,187</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2.49</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Canceled</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Exercised</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Outstanding at March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,187</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.79</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Canceled</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(572</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Forfeited</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(817</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Exercised</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Outstanding at March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,531</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.80</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Exercisable at March 31, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,798</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.80</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In April 2011, two former employees each agreed to cancel options
to purchase 173,622 shares of common stock in connection with their respective termination agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company recorded the cancellation of 9,122
shares of common stock relating to three former employees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company recorded the cancellation of 215,841 shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company recorded the forfeiture of 816,667
shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The exercise price for options outstanding and options exercisable
at March 31, 2012 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Weighted</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Average</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Weighted</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Remaining</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Number</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Average</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Aggregate</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center">Range&nbsp;of</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Contractual&nbsp;Life</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Outstanding</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Exercise</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Intrinsic</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Exercise&nbsp;Price</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">(Years)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">March&nbsp;31,&nbsp;2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Price</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">$0 - $1.00</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; text-align: right">4.27</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 17%; text-align: right">2,698</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">0.47</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 17%; text-align: right">1,303,500</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">$2.00 - $3.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6.22</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.75</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">$4.00 - $5.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">5.87</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">800</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">4.75</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">5.06</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,798</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">$</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">1.80</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,303,500</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Stock Plans</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A summary of the status of the Company&rsquo;s 2007 Employee,
Director and Consultant Stock Plan equity compensation plan, nonvested options as of March 31, 2012 and 2011 pursuant to the Plan,
and changes during the years ended March 31, 2012 and 2011 is presented below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>(in&nbsp;thousands)</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Weighted&nbsp;Average</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Number&nbsp;of</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Grant&nbsp;Date</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Nonvested at March 31, 2010</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%">Granted</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,200</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">0.25</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Vested</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,200</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.25</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Exercised</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Nonvested at March 31, 2011</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Vested</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Exercised</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Nonvested at March 31, 2012</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Cumulative forfeited, March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(218</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.61</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Cumulative forfeited, March 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,035</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Cumulative canceled, March 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(572</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, under the Company&rsquo;s 2007 Employee,
Director and Consultant Stock Plan equity compensation plan, there was $0 of total unrecognized compensation cost related to nonvested
share-based compensation arrangements granted under the Plan. The total fair value of shares vested during the year ended March
31, 2012 was $0, and $0 was forfeited to cover individual tax withholdings. The total fair value of shares vested during the year
ended March 31, 2011 was $2,100, and $0 was forfeited to cover individual tax withholdings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Option Plans and Stock Plans</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Total stock compensation expense for the Company&rsquo;s 2007
Employee, Director and Consultant Stock Plan equity compensation plan and Amended and Restated 2011 Equity Incentive Plan is included
in the following statements of operations components:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: blue; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Twelve&nbsp;Months&nbsp;Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Twelve&nbsp;Months&nbsp;Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: blue; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Product development</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">69</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Sales and marketing</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left"></TD><TD STYLE="text-align: right">19</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">General and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,233</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">413</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">7,302</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">439</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>8.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Discontinued Operations</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;The Company had been negotiating a restructuring of debt
with its senior debt holder for some time.&nbsp;&nbsp;These negotiations were finalized on June 21, 2010.&nbsp;&nbsp;On that date,
the Company signed and closed a number of transactions, which included the sale of AMV. Pursuant to the Agreement, ValueAct Small
Cap Master Fund, L.P.&nbsp;(&ldquo;ValueAct&rdquo;) and Nate MacLeitch and Jonathan Cresswell (the &ldquo;AMV Founders&rdquo;),
acting through a newly formed company, acquired the operating subsidiaries of AMV in exchange for the release of $23,231 of secured
indebtedness, which included a release of all amounts due and payable under the&nbsp;secured promissory note in the aggregate principal
amount of $5,375 (the &ldquo;AMV Note&rdquo;)&nbsp;and all of the amounts due and payable under the Senior Secured Note, issued
by Twistbox, due July 31, 2010, as amended on February 12, 2008 (the &ldquo;ValueAct Note&rdquo;) except for $3,500 in principal,
which is due in one lump sum principal payment on June 21, 2013. In addition, all intercompany balances at that date were cancelled,
and all shares of common stock and warrants of the Company held by ValueAct were cancelled. In addition, approximately 3,541 shares
of common stock of the Company held by two of the founders of AMV were acquired by the Company.&nbsp;&nbsp;As of June 30, 2010
the Company accrued $300 to a related party pertaining to the sale of AMV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with FASB ASC 205-20, <I>Discontinued Operations</I>,
the operating results and net assets and liabilities related to AMV were reclassified as of June 21, 2010 and reported as discontinued
operations in the accompanying consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with FASB ASC 360, Property, Plant and Equipment,
the Company recorded a gain of $4,200 on the sale of AMV.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following is a summary of assets and liabilities of
the discontinued operations as of March 31, 2010 and as of the disposal date of June 21, 2010 and the resulting gain on sale:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">June 21,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March 31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2010</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%">Cash</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">641</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,251</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Working Capital, net of cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,536</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,501</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and Equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">591</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">668</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Goodwill and intangibles</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">15,948</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">15,955</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Net Assets Sold</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">18,716</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">19,375</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Direct costs associated with the sale</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,173</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Currency translation adjustment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">234</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Other</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">5</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">20,128</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: right; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Consideration</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">24,343</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">Gain on sale, net of taxes</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">4,215</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>9.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Goodwill and Intangible Assets</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<B>Goodwill</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A reconciliation of the changes to the Company's carrying amount
of goodwill for the years ended March 31, 2012 and 2011 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 87%">Balance at March 31, 2010</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">8,155</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Goodwill impairment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,546</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Balance at March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,609</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Goodwill impairment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,969</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Balance at March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,640</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fair value is defined under ASC 820, Fair Value Measurements
and Disclosures as, &ldquo;The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date&rdquo;. The Company considered the income and market approaches to derive an
opinion of value. Under the income approach, the Company utilized the discounted cash flow method, and under the market approach,
consideration was given to the guideline public company method, the merger and acquisition method, and the market capitalization
method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As a result of the assessment, the Company determined that its
net book value exceeded the implied fair value; and recorded an impairment charge of $2,969 for the year ended March 31, 2012 and $1,546 for the year ended March 31, 2011 to write down goodwill. The impairment
charge is included &ldquo;Impairment of goodwill and intangible assets&rdquo; within operating expenses in the statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Intangible Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A reconciliation of the changes to the Company's carrying amount
of intangible assets for the years ended March 31, 2012 and 2011 was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Amortizable</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Unamortizable</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Total</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Intangible&nbsp;Assets</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Intangible&nbsp;Assets</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Intangible&nbsp;Assets</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%">Balance at March 31, 2010</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,704</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">6,491</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">8,195</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(347</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(347</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Impairment of intangibles</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(464</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(4,018</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(4,482</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Balance at March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">893</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,473</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,366</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(230</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(230</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Impairment of intangibles</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(2,319</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(2,319</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Balance at March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">663</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">154</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"> 817</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company performed its annual review of the fair value of
intangible assets in the fourth quarter of fiscal 2012. The Company considered the income and market approaches to derive an opinion
of value. As a result of the assessment, the Company determined that its net book value exceeded the implied fair value; and recorded
an impairment charge of $2,319 for the year ended March 31, 2012 and $4,018 for the year ended March 31, 2011 to write down intangible assets. The impairment charge is included &ldquo;Impairment of goodwill
and intangible assets&rdquo; within operating expenses in the statements of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The components of intangible assets as at March 31, 2011 and
2012 were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;March&nbsp;31,&nbsp;2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Accumulated</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Cost</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%">Software</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(948</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">663</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Trade name / Trademark</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">154</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">154</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Customer list</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,220</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">License agreements</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">443</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(443</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,428</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,611</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">817</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;March&nbsp;31,&nbsp;2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Accumulated</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Cost</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Amortization</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Net</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%">Software</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,611</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(718</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">893</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Trade name / Trademark</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,473</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,473</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Customer list</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,220</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,220</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">License agreements</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">443</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(443</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,747</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(2,381</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,366</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has included amortization of acquired intangible
assets directly attributable to revenue-generating activities in cost of revenues. The Company has included amortization of acquired
intangible assets not directly attributable to revenue-generating activities in operating expenses. During the years ended March
31, 2012 and 2011, the Company recorded amortization expense for continuing operations&nbsp;in the amount of $230 and $295, respectively,
in cost of revenues; and amortization expense in the amount of $0 and $54 respectively, in operating expenses. During the years
ended March 31, 2012 and 2011 the Company recorded amortization expense for discontinued operations in the amount of $0 and $26,
respectively, in cost of revenues; and amortization expense in the amount of $0 and $40, respectively, in operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Based on the amortizable intangible assets as of March 31, 2012,
we estimate amortization expense for the next five years to be as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">Amortization</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">Year Ending March 31,</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left; border-bottom: Black 1pt solid">Expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: left">(in thousands)</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 80%; text-align: right">2013</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">232</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2014</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">232</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">2015</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">199</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">663</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;Below is a summary impairment of Goodwill and Intangible
assets:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Intangible<BR>
Assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Goodwill</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; padding-bottom: 1pt">Balance as of March 31, 2010</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">9,676</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 10%; border-bottom: Black 1pt solid; text-align: right">53,066</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Impairment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">4,482</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,546</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Balance as of March 31, 2011</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,158</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">54,612</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Impairment</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,319</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">2,969</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 1pt">Balance as of March 31, 2012</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,477</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">57,581</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 1%; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>10.</B></TD>
    <TD STYLE="width: 94%; text-autospace: ideograph-numeric ideograph-other; font-weight: bold">Debt</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; font-style: italic">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Short Term Debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left">Note Payable</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">-</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">100</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Equipment Leases and accrued interest on debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">15</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Senior secured note, short term accrued interest</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">73</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Secured Note, short term accrued interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">-</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">92</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">75</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">273</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">March&nbsp;31,</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2011</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; font-style: italic; text-align: left">Long Term Debt</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left; padding-left: 9pt; text-indent: -9pt">Senior secured note, including PIK interest, net of discount, of $1,020 and $1,856, respectively</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,881</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">776</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt">Convertible note, including accrued interest, net of discount, of $1,132 and $0, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">-</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 9pt; text-indent: -9pt">Secured note, including PIK interest</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">1,136</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">&nbsp;</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">3,685</TD><TD STYLE="text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">3,077</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="text-align: right; border-bottom: Black 2.5pt double">4,461</TD><TD STYLE="text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Convertible Debt</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 29, 2011, the Company sold and issued $7,000 of
subordinated short term convertible notes (the &ldquo;New Convertible Note&rdquo;). The New Convertible Note is subordinated to
the New Senior Secured Notes. The New Convertible Note bears interest at a rate of 3% per annum payable at the time of conversion.
The term of the New Convertible Note is the earlier of (i) the date of the Company&rsquo;s next equity financing round or (ii)
the date that is one year following the date of the New Convertible Note. The New Convertible Note will automatically convert into
shares of the Company&rsquo;s common stock one year from the date of the New Convertible Note at a conversion price equal to (x)
if in connection with a next equity financing round, a 25% discount to the actual or implied stock price in such financing or (y)
if the Company does not complete the next equity financing round within one year of the date of the New Convertible Note, at 75%
of the average trading price of the Company&rsquo;s common stock for the 30-day period immediately prior to conversion. In no event
shall the conversion price be less than $0.50.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The purchaser of the New Convertible Note also received a warrant
(&ldquo;Convertible Note Warrant&rdquo;) to purchase shares of common stock of the Company. The number of shares which may be purchased
under the Convertible Note Warrant is equal to an amount calculated by multiplying 25% by the quotient obtained by dividing the
amount of the principal under the New Convertible Note outstanding immediately prior to conversion by the conversion price. The
conversion price is to be determined based on a qualified event or one year with an exercise price of no less than $0.50 per share.
The Convertible Note Warrant has a five year term and the issuer can require conversion of the Convertible Note Warrant if (i)
the common stock of issuer is traded on NASDAQ (or other national stock exchange); (ii) for at least (60) consecutive days at a
price equal to or greater than 150% of the Conversion Price, and (iii) the common stock has traded with an average daily volume
of at least 200,000 shares. The Convertible Note Warrant was initially recorded as a derivative liability upon issuance. As discussed in Note 12, the
Company received a waiver from the Senior Secured Convertible note holders on March 26, 2012 which allowed the Company to
reclassify the Convertible Note Warrant from a derivative liability to additional paid-in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company determined that the New Convertible Note has an
embedded conversion feature that is required to be bifurcated and measured at fair value at each reporting. At the date of issuance,
the fair value of the embedded conversion feature and the Convertible Note Warrant of the New Convertible Note was $6,078 using
the Black-Scholes option pricing model with the following assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Expected life of 1 year</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Risk free interest rate of .12%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Dividend yield of 0%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Volatility of 175%</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">The Company determined the fair value of the Convertible
Note Warrants to be $2,177, using the Black-Scholes option pricing model with the following assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Expected life of 5 years</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Risk free interest rate of .88%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Dividend yield of 0%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Volatility of 175%</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">The combined total discount pertaining to the
conversion feature of the New Convertible Note and the Convertible Note Warrant was originally limited to the face value of
the New Convertible Note of $7,000 and is being amortized over the term of the New Convertible Note, with the $1,255 fair
value that exceeded the face value being charged to operations as interest expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 1, 2012, the Company amended the
New Convertible Note including the following amendments:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The conversion price was amended to $0.70 for the entire principal and all accrued and unpaid interest.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The warrants to become exercisable as of March 1, 2012. Previously the warrants
                                                                                                               could only be exercised by the holder on or after the date on which the common stock had traded on NASDAQ (or any other
                                                                                                               nationally recognized securities exchange) at a price equal to or greater than the conversion price for a period of 60
                                                                                                               consecutive trading days with an average daily volume of at least 200,000 shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The warrant exercise price was amended to $0.70.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 1, 2012, the entire amount of the New
Convertible Note of $7,000 including accrued interest of $37 was converted into 10,053 shares based on an agreed upon
conversion rate of $0.70. The Company assessed the debt modification for the New Convertible Note and determined that it met
the requirements for extinguishment accounting per FASB ASC 470 and accordingly, recorded a gain on extinguishment of debt of
$2,117 for the year ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company had recorded a debt discount based on the fair value
of the Convertible Note Warrant and the embedded conversion feature. Due to the conversion of the New Convertible Note, the Company
expensed the $7,000 debt discount to interest expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ValueAct Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As described in Note 8, in connection with the disposal of AMV
on June 21, 2010, all amounts due and payable under the AMV Note were released, and the ValueAct Note was amended and restated
in its entirety and reduced to $3,500 of principal (the &ldquo;Amended ValueAct Note&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 16, 2011, the ValueAct Note was purchased in its
entirety by Taja LLC (&ldquo;Taja) and was amended to remove certain negative covenants from the Note (the &ldquo;Amended Taja
Note&rdquo;). The Purchase of the ValueAct Note was independent of the Company, and the Company did not receive or pay out any
cash related to this transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 29, 2011, the Company and Taja entered into a
binding term sheet for convertible note financing (&ldquo;Taja Convertible Note&rdquo;) and effectively a third amendment to
the Second Amended Note (&ldquo;Third Amended Note&rdquo;). The Taja Convertible Note became effective on February 27, 2012.
The Third Amended Note (1) changed the maturity date from June 21, 2013 to June 21, 2015, (2) extended the payment in kind
(&ldquo;PIK&rdquo;) election to the note through the revised term, and (3) stripped out $3,000 of principal to create the
Taja Convertible Note, leaving a principal balance of $500 plus accrued interest of $562 for a total of $1,062. As
consideration for amending the note, Taja also received a warrant (&ldquo;Incentive Warrant&rdquo;) to purchase 2,000 shares
of common stock of the Company at an exercise price of $0.25 per share, subject to adjustment. Taja also received 25% warrant
coverage (&ldquo;Coverage Warrant&rdquo;) determined by dividing the principal amount of the Taja Convertible Note by the
conversion price multiplied by 25%. The Incentive Warrant and the Coverage Warrant have a five year term and vest one year
from issue date. The Coverage Warrant was initially recorded as a derivative liability upon issuance. As discussed in Note
12, the Company received a waiver from the Senior Secured Convertible note holders on March 26, 2012 which allowed the Company
to reclassify the Convertible Note Warrant from a derivative liability to additional paid-in capital. The Company assessed the
debt modification for the Third Amended Note and determined that it met the requirements for extinguishment accounting per FASB
ASC 470 and accordingly, recorded a loss on extinguishment of debt of $1,459 for the year ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 1, 2012, the Company and Taja entered into a second
binding term sheet (&ldquo;Amended Taja Convertible Note&rdquo;) to amend certain provisions of the December 29, 2011 binding term
sheet (1) the maturity date was revised to March 1, 2014, (2) the conversion price was amended to $0.70 share, (3) conversion of
the note must not cause the holder to exceed 4.9% ownership, except that on the maturity date the entire remaining amount of principle
and interest shall automatically convert into shares of common stock of the Company (4) the Amended Taja Convertible Note becomes
accelerated and immediately due and payable upon the consummation by the Company of one or more equity sales from and after March
1, 2012 resulting in aggregate net proceeds of at least $10,000, (5) the conversion date is to occur the earlier of (x) the date
that the long-form documents are executed and delivered to all parties, and (y) March 19, 2012, (6) the 2,000 Incentive Warrants
issued as consideration for the Third Amended Note were amended to vest and be exercisable one year from March 1, 2012, (7) the
exercise date of the Coverage Warrants was amended to one year following the conversion date, and (8) the term sheet was binding
on the parties and their respective successors and assigns regardless of whether the parties execute long form agreements, as opposed
to the previous term sheet that contemplated going to long form agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company determined that the Amended Taja Convertible Note
has an embedded conversion feature that is required to be bifurcated and measured at fair value at each reporting. At the date
of issuance, the fair value of the embedded conversion feature was $2,250 using the Black-Scholes option pricing model with the
following assumptions:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Expected life of 1 years</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Risk free interest rate of .17%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Dividend yield of 0%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Volatility of 175%.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company determined the fair value of the Coverage Warrant
and the Incentive Warrant to be $750 and $1,459, respectively, using the Black-Scholes option pricing model with the following
assumptions:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Expected life of 5 years</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Risk free interest rate of .84%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Dividend yield of 0%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Volatility of 175%.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The combined total discount pertaining to the conversion factor
of the Taja Convertible Note and the Coverage warrant was originally limited to the face value of the Taja Convertible Note of
$3,000 and is being amortized over the term, with the $837 fair value of the embedded conversion feature that exceeded the face
value being charged to operations as interest expense. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 19, 2012, the Company issued 2,600 shares of its common
stock to Taja for the conversion of $1,820 of the Amended Taja Convertible Note. The Company expensed to interest expense the
debt discount on a pro rata basis of the amount converted to the original debt amount to reflect the conversion of the $1,820.
During the year ended March 31, 2012, the Company recorded interest expense of $1,873 related to the amortization of the debt
discount. The remaining discount of $1,127 will be amortized over the period ending March 1, 2014. The Company assessed the conversion
of $1,820 and determined that it met the requirements for extinguishment accounting per FASB ASC 470 and accordingly, recorded
a gain on extinguishment of debt of $1,346 for the year ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, the $1,180 outstanding principal balance
is convertible into approximately 1,686,000 shares of common stock at a conversion price of $0.70. At March 31, 2012, the if-converted
value exceeds the principal by approximately $405.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Senior Secured Convertible Notes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June 21, 2010, for purposes of capitalizing the Company,
the Company sold and issued $2,500 of Senior Secured Convertible Notes due June 21, 2013 of the Company (the &ldquo;New Senior
Secured Notes&rdquo;) to certain of the Company&rsquo;s significant stockholders.&nbsp;&nbsp;The New Senior Secured Notes have
a three year term and bear interest at a rate of 10% per annum payable in arrears semi-annually. The entire principal balance is
due in one lump sum payment on June 21, 2013. Notwithstanding the foregoing, at any time on or prior to the 18th month following
the original issue date of the New Senior Secured Notes, the Company may, at its option, in lieu of making any cash payment of
interest, elect that the amount of any interest due and payable on any interest payment date on or prior to the 18th month following
the original issue date of the New Senior Secured Notes be added to the principal due under the New Senior Secured Notes. The accrued
and unpaid principal and interest due on the New Senior Secured Notes are convertible at any time at the election of the holder
into shares of common stock of the Company at a conversion price of $0.15 per share, subject to adjustment. The New Senior Secured
Notes are secured by a first lien on substantially all of the assets of the Company and its subsidiaries pursuant to the terms
of that certain Guarantee and Security Agreement, dated as of June 21, 2010, among Twistbox, the Company, each of the subsidiaries
thereof party thereto, the investors party thereto and Trinad Management. The Amended ValueAct Note is subordinated to the New
Senior Secured Notes pursuant to the terms of that certain Subordination Agreement, dated as of June 21, 2010, by and between Trinad
Capital Master Fund, and ValueAct, and each of the Company and Twistbox.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each purchaser of a New Senior Secured Note also received a
warrant (&ldquo;Warrant&rdquo;) to purchase shares of common stock of the Company at an exercise price of $0.25 per share, subject
to adjustment.&nbsp;&nbsp;For each $1 of New Senior Secured Notes purchased, the purchaser received a Warrant to purchase 3.33
shares of common stock of the Company.&nbsp;&nbsp;Each Warrant has a five year term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Warrants granted to the New Senior Secured Note holders
on June 21, 2010 and conversion feature in the New Senior Secured Notes are not considered derivative instruments since the Warrants
and the New Senior Secured Notes have a set conversion price and all of the requirements for equity classification were met. The
Company determined the fair value of the detachable warrants issued in connection with the New Senior Secured Notes to be $1,678,
using the Black-Scholes option pricing model and the following assumptions:&nbsp;&nbsp;expected life of&nbsp;5 years, a risk free
interest rate of&nbsp;2.05%, a dividend yield of 0% and volatility of&nbsp;54.62%. In addition, the Company determined the value
of the beneficial conversion feature to be $5,833. The combined total discount for the New Senior Secured Notes&nbsp;is&nbsp;limited
to the face value of the New Senior Secured Notes&nbsp;of $2,500 and is being amortized over the term of the New Senior Secured
Notes. For the year ended March 31, 2012, the Company amortized $835 of the aforesaid discounts as interest and financing costs
in the accompanying consolidated statements of operations. The remaining discount of $1,020 will be amortized over the period ending
June 21, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, the $2,974 outstanding principal and accrued
interest is convertible into approximately 19,827 shares of common stock at a conversion price of $0.15. At March 31, 2012, the
if-converted value exceeds the principal and accrued interest by approximately $474.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-size: 10pt; font-weight: bold"><B>11.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-size: 10pt; font-weight: bold"><B>Related Party Transactions</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company engages in various business relationships with shareholders
and officers and their related entities. The significant relationships are disclosed below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On September 14, 2006, the Company entered into a five year
management agreement (&ldquo;Agreement&rdquo;) with Trinad Management, the manager of Trinad Capital Master Fund, which is one
of our principal stockholders. In addition, Robert Ellin, our director, is the managing director of and portfolio manager for Trinad
Management. Pursuant to the terms of the Agreement, Trinad Management provides certain management services, including, without
limitation, relating to the sourcing, structuring and negotiation of a potential business combination transaction involving the
Company in exchange for a fee of $90 per quarter, plus reimbursements of all related expenses reasonably incurred. The Agreement
expired on September 14, 2011, but was extended to December 31, 2011. During the years ended March 31, 2012 and 2011, the Company
incurred management fees under the agreement of $270 and $360, respectively. At March 31, 2012 and March 31, 2011, the accrued
payable to Trinad Management was $135 and $180, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>12.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Capital Stock Transactions</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Preferred Stock</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">There are 100 shares of Series A Convertible Preferred Stock
(&ldquo;Series A&rdquo;) authorized, issued and outstanding. The Series A has a par value of $0.0001 per share. The Series A holders
are entitled to: (1) vote on an equal per share basis as common stock, (2) dividends paid to the common stock holders on an as
if-converted basis and (3) a liquidation preference equal to the greater of $10 per share of Series A (subject to adjustment) or
such amount that would have been paid to the common stock holders on an as if-converted basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>Common Stock and Warrants</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In addition, in connection with the New Senior Secured Notes
described in Note 10, on June 21, 2010, each purchaser of a New Senior Secured Note also received a warrant (&ldquo;Warrant&rdquo;)
to purchase shares of common stock of the Company at an exercise price of $0.25 per share, subject to adjustment. For each $1 of
New Senior Secured Notes purchased, the purchaser received a Warrant to purchase 3.33 shares of common stock of the Company. Each
Warrant has a five year term. The warrants were valued at $1,678 using the Black Scholes pricing model (see Note 10) and were originally
recorded as equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In February 2011, a former officer of the Company, agreed to
cancel 300,000 shares underlying an option to purchase 350,000 shares of common stock of the Company, and the Company granted
an option to purchase 300,000 shares of the Company&rsquo;s common stock at an exercise price of $0.25 per share. The Company
determined the incremental fair value of the options issued to be $37, using the Black-Scholes option pricing model and the following
assumptions: expected life of 6.98 years, a risk free interest rate of 2.99%, a dividend yield of 0% and volatility of 75%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In February 2011, an officer of the Company, agreed to cancel 400,000
shares underlying an option to purchase 450,000 shares of common stock of the Company, and the Company granted an option to purchase
400,000 shares of the Company&rsquo;s common stock at an exercise price of $0.25 per share. The Company determined the incremental
fair value of the options issued to be $50, using the Black-Scholes option pricing model and the following assumptions: expected
life of 6.98 years, a risk free interest rate of 2.99%, a dividend yield of 0% and volatility of 75%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: black">In September 2010, the Company entered
into a consulting agreement, pursuant to which, the Company issued warrants to purchase 150,000 shares of the Company&rsquo;s
common stock at an exercise price of $0.39 per share. The Company determined the fair value of the warrants issued to be $26,
using the Black-Scholes option pricing model and the following assumptions: expected life of 3.00 years, a risk free interest
rate of 0.70%, a dividend yield of 0% and volatility of 75%. In February 2011, an officer of the Company, agreed to cancel an
option to purchase 500,000 shares of common stock of the Company, and the Company granted an option to purchase 500,000 shares
of the Company&rsquo;s common stock at an exercise price of $0.25 per share. The Company determined the incremental fair value
of the options issued to be $26, using the Black-Scholes option pricing model and the following assumptions: expected life of
3.00 years, a risk free interest rate of 1.02%, a dividend yield of 0% and volatility of 75%.</FONT>&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 1, 2011, 347,244 shares of common stock of the Company
were issued to two former employees of the Company, as compensation, at the closing market price on that date of $0.58 cents per
share, resulting in a total value of $201. In addition, the employees each agreed to cancel options to purchase 173,622 shares
of common stock in connection with their respective termination agreements which were valued at $132. The Company determined the
fair value of the cancelled options using the Black-Scholes option pricing model and the following assumptions: expected life of
5.11 years, a risk free interest rate of 1.76%, a dividend yield of 0% and volatility of 75%. The net value of the termination
was $69.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 6, 2011, the Company entered into a consulting agreement.
On January 3, 2012 the Company issued 150,000 shares of common stock of the Company to the consultant. The shares vest over a one
year period. The shares were valued at the closing market price on that date of $0.58 cents per share. The overall value was determined
to be $87, of which $87 was recorded through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 6, 2011, the Company issued warrants to purchase 75,000
shares of the Company&rsquo;s common stock to a vendor, as compensation for services rendered, at $0.25 cents per share. The Company
determined the fair value of the warrants issued to be a $34, using the Black-Scholes option pricing model and the following assumptions:&nbsp;&nbsp;expected
life of&nbsp;3.00 years, a risk free interest rate of&nbsp;.81%, a dividend yield of 0% and volatility of&nbsp;75%. The warrants
vest over a six month period and $34 of expense has been recorded through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In May 2011, 150,000 shares of common stock of the Company were
issued to a vendor as a settlement, at the closing market price on that date of $0.40 cents per share, resulting in a total value
of $60.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June 2011, the Company entered into a consulting agreement,
pursuant to which, the Company issued warrants to purchase 150,000 shares of the Company&rsquo;s common stock at an exercise price
of $0.47 cents per share. At June 30, 2011, the Company determined the fair value of the warrants issued to be $53, using the Black-Scholes
option pricing model and the following assumptions:&nbsp;&nbsp;expected life of&nbsp;3.00 years, a risk free interest rate of&nbsp;0.81%,
a dividend yield of 0% and volatility of&nbsp;75%. The warrants vest over a one year period and $53 of expense has been recorded
through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In June 2011, the Company entered into a consulting agreement,
pursuant to which, the Company issued warrants to purchase 150,000 shares of the Company&rsquo;s common stock at an exercise price
of $0.47 cents per share. At June 30, 2011, the Company determined the fair value of the warrants issued to be $92, using the Black-Scholes
option pricing model and the following assumptions:&nbsp;&nbsp;expected life of&nbsp;3.00 years, a risk free interest rate of&nbsp;0.83%,
a dividend yield of 0% and volatility of&nbsp;75%. The warrants vest over a one year period and $48 of expense has been recorded
in the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 29, 2011, the Company issued a convertible promissory
note for $7,000, pursuant to which the Company issued warrants to purchase 3,500,000 shares based on 25% coverage and a conversion
rate of $0.50. The exercise price was $0.50 at the date of issuance with a five year life. At December 29, 2011, the Company determined
the fair value of the warrants to be $2,177 using the Black-Scholes option pricing model and the following assumptions:&nbsp;&nbsp;expected
life of&nbsp;5 years, a risk free interest rate of&nbsp;0.88%, a dividend yield of 0% and volatility of&nbsp;175%. The fair value
of the warrants was recorded as a debt discount. On March 1, 2012 the note was amended, changing the conversion price to $0.70
cents per share, and the Company issued 10,053,333 shares of common stock of the Company in full payment of principle and interest
of the New Convertible Note at the new conversion price, and recognized the full expense of the warrants and debt discount in interest
expense as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 50,000 shares of
common stock of the Company to Digital Turbine Group LLC for the purchase of its assets. The shares were valued at the
closing market price on that date of $0.65 cents per share. The overall value was determined to be $31, and was recorded as
production expense as of December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 50,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined overall
value to be $39, and $11 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 100,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $77, and $22 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 100,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $77, and $22 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 1,787,500 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $1,379, and $400 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 50,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $39, and $11 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 100,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $77, and $22 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 9,037,500 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $6,974, and $2,025 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 200,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $154, and $44 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 500,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $386, and $112 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 25,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $19, and $6 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 500,000 shares of common
stock of the Company to a consultant. The shares are partially vested, but are restricted for a one year period. The vesting of
the shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the
overall value to be $386, and $112 was recorded as an expense through March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 1,000,000 shares of common
stock of the Company to a director. The shares vest over a period of one year. The shares were valued at the closing market price
on that date of $0.62 cents per share. The overall value was determined to be $620, and $207 of expense was recorded through the
period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 1,000,000 shares of common
stock of the Company to a director. The shares vest over a period of one year. The shares were valued at the closing market price
on that date of $0.62 cents per share. The overall value was determined to be $620, and $207 of expense was recorded through the
period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 1,000,000 shares of common
stock of the Company to a director. The shares vest over a period of one year. The shares were valued at the closing market price
on that date of $0.61 cents per share. The overall value was determined to be $610, and $158 of expense was recorded through the
period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 3,400,000 shares of common
stock of the Company to a director. The shares are partially vested, but are restricted for a one year period. The vesting of the
shares is both performance and market based, and as such, the Company performed a valuation under ASC 718 and determined the overall
value to be $2,624, and $1,454 of expense was recorded through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In December 2011, the Company issued 3,600,000 shares of common
stock of the Company to a director. The shares are vested, but are restricted for a one year period. The shares were valued at
the closing market price on that date of $0.61 cents per share. The overall value was determined to be $2,196, and $2,196 of expense
was recorded in the period ended December 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In January 2012, the Company entered into a consulting agreement,
pursuant to which, the Company issued 150,000 shares of common stock of the Company. The shares are vested and were valued at the
closing market price on that date of $0.65 cents per share. The overall value was determined to be $98, and $98 of expense was
recorded in the period ended January 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In January 2012, the Company entered into a consulting agreement,
pursuant to which, the Company issued 150,000 shares of common stock of the Company. The shares vest over one year and were valued
at the closing market price on that date of $0.65 cents per share. The overall value was determined to be $98, and $59 of expense
was recorded through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In January 2012, the Company issued 1,375,000 shares of common
stock of the Company to three employees. 875,000 of the shares are vested, but are restricted for a two year period. The shares
were valued at the closing market price on that date of $0.65 cents per share. The overall value was determined to be $894, and
$569 of expense was recorded through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company issued 50,000 shares of common stock
of the Company to a vendor. The shares are vested, but restricted for a one year period. The shares were valued at the closing
market price on that date of $0.85 cents per share. The overall value was determined to be $42, of which $42 was recorded in the
period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company issued 150,000 shares of common stock
of the Company to a vendor. The shares vest over one year and were valued at the closing market price on that date of $0.90 cents
per share. The overall value was determined to be $135, of which $2 was recorded through the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company sold 3,857,143 shares of common stock
of the Company to investors for $0.70 cents per share. In connection with this sale of common stock, the Company issued warrants
to purchase 964,286 shares of common stock of the Company at an exercise price of $0.70 cents per share with a term of 5 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company issued warrants to purchase 2,000,000
shares of common stock of the Company at an exercise price of $0.70 cents per share with a term of 5 years. The warrants were issued
as consideration related to the modification of an existing note to convertible debt and treated as debt modification expense of
$1,459 as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In March 2012, the Company issued 1,071,429 warrants to purchase
shares of common stock of the Company at an exercise price of $0.70 cents per share. The Company recorded expense of $610 through
the period ended March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Derivative liabilities</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, the Company determined that certain warrants
were considered derivatives because they did not meet the scope exception in ASC 815-10-15-74. The fair value of these warrants
was $452 and $223 at March 31, 2012 and 2011, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 29, 2011, the Company issued a $7,000 New Convertible
Note with conversion rate at 75% of the average trading price of the Company&rsquo;s common stock for the 30-day period immediately
prior to conversion with a floor of $0.50. Pursuant to the agreement, the Company issued a Coverage Warrant equal to multiplying
25% by the quotient obtained by dividing the amount of the principal under the convertible note outstanding immediately prior to
conversion by the conversion price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Previously issued warrants and embedded conversion features
had met the scope exception in ASC 815-10-15-74; however, due to the increased number of potential common shares that would need
to be issued upon conversion of the note, the Company did not have sufficient authorized and unissued shares as required by</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ASC 815-40-25-10 (b) causing all outstanding derivatives and
embedded conversion features to not meet the scope exception in ASC 815-10-15-74. As a result, the Company was required to separately
account for the outstanding warrants and embedded conversion options as derivative liabilities, carried at fair value and marked-to-market
each reporting period, with changes in the fair value each period being charged or credited to operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">On December 29, 2011, the Company valued all previously
outstanding warrants and embedded conversion features using the Black-Scholes model and reclassified $17,549 from additional paid-in
capital to derivative liabilities. The Company also recorded a derivative liability of $8,255 representing the fair value of the
embedded conversion option and the Coverage Warrant issued with the New Convertible Note. The Company determined the fair value
using the Black-Scholes option pricing model with the following assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Previously&nbsp;Outstanding&nbsp;Instruments</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">New&nbsp;Convertible&nbsp;Note</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Embedded</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Embedded</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Conversion</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Conversion</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Coverage</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Warrants</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Options</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Option</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Warrant</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 36%; text-align: left">Estimated Life (years)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">1.82 &ndash; 4.5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">1.48</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">1</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">5</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Risk Free Interest Rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">.28 - .88</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.12</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.88</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Dividend Yield</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Volatility</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 26, 2012, the Senior Secured Convertible Note holders
issued a waiver to the Company stating that they would not convert their notes until the Company has notified them in writing that
the Company has increased its authorized capital sufficiently so that the conversion, exchange or exercise of all convertible securities
can be effectuated without the Company exceeding its authorized capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">With the issuance of the waiver, the Company determined that
the outstanding warrants and embedded conversion options met the scope exception of ASC 815-10-15-74 as it had sufficient authorized
and unissued shares as required by ASC 815-40-25-10 (b). Therefore, the Company valued all outstanding warrants and embedded conversion
options on March 26, 2011 and reclassified $28,733 from derivative liability to additional paid-in capital. The Company determined
the fair value using the Black-Scholes option pricing model with the following assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Embedded</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP>&nbsp;</TD><TD NOWRAP>&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center">Conversion</TD><TD NOWRAP>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Warrants</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid">Options</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%; text-align: left">Estimated Life (years)</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">1.60 - 4.93</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 18%; text-align: right">1.24</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Risk Free Interest Rate</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.36% - 1.04</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.12</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Dividend Yield</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Volatility</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">175</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Restricted Stock Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During the year ended March 31, 2012, the Company entered into
restrictive stock agreements (&ldquo;RSAs&rdquo;) with certain employees and consultants. The RSAs have performance conditions,
market conditions, time conditions or a combination. Once the stock vests, the individual is restricted from selling the shares
of stock for a certain defined period from three months to two years depending on the RSA. Certain RSA are granted voting rights
while other RSAs are not granted voting rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I><U>Performance and Market Condition RSAs</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 28, 2011, the Company issued 15,850 restricted shares
with vesting criteria based on both performance and market conditions. The vesting is as follows: (i) one third (1/3) shall vest
immediately upon the completion of one or more debt or equity financings during the period ending two (2) years from the date hereof
(the &ldquo;Measurement Period&rdquo;) in favor of the Company of gross proceeds of at least $5 million; (ii) one third (1/3) shall
vest immediately if on any date during the Measurement Period the Company&rsquo;s total enterprise value (computed by multiplying
the number of outstanding shares of Common Stock on a fully diluted (taking into account only those stock options that are in-the-money
on such date), as-converted basis by the average daily trading price for Common Stock for the thirty (30) trading day period immediately
preceding the date of determination) equals or exceeds $100 million; and (iii) one third (1/3) shall vest immediately if on any
date during the Measurement Period the Company&rsquo;s total enterprise value (calculated as set forth in clause (ii) above) equals
or exceeds $200 million; provided, however, that all unvested shares of restricted common stock shall vest immediately upon the
sale of all or substantially all of the assets of the Company, upon the merger or reorganization of the Company following which
the equity holders of the Company immediately prior to the consummation of such merger or reorganization collectively own less
than 50% of the voting power of the resulting entity, or upon the sale of equity securities of the Company representing 50% or
more of the voting power of the Company or 50% or more of the economic interest in the Company in a single transaction or in a
series of related transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each share is restricted from the individual selling the stock
for a period of one year from the date of vesting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Of the 15,850 restricted shares, the 5,283 vested shares and
8,292 unvested shares were granted voting rights and have been included in the outstanding shares as of March 31, 2012. The remaining
unvested shares do not have voting rights and have been excluded from the outstanding shares as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 28, 2011, one third of the restricted shares vested
due to the $7,000 financing agreement entered into by the Company. The Company valued the 5,283 vested RSAs at $3,223 using the
Company&rsquo;s ending share price at December 28, 2011 of $0.61.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">For accounting purposes, the one third unvested shares related
to the $100,000 enterprise value and the one third unvested shares related to the $200,000 enterprise value are considered to have
a market condition. The effect of the market condition is reflected in the grant date fair value of the award and, thus compensation
expense is recognized on this type of award provided that the requisite service is rendered (regardless of whether the market condition
is achieved). The Company estimated the grant date fair value to be $0.279 per share and $0.206 per share for the $100,000 enterprise
value and $200,000 enterprise value, respectively, using a Monte Carlo simulation that uses the following assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Volatility &ndash; 100%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Restricted stock discount &ndash; 36.1%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Risk free interest rate of 0.1%</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Dividend yield of 0%</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company expensed $3,552 related to the 15,850 RSAs issued
on December 28, 2011 and will expense the remaining $2,233 over the period ended December 28, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I><U>Time and Performance Condition RSAs</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 3, 2012, the Company issued 2,375 restricted shares
with vesting criteria based on both time and performance conditions. At January 3, 2012, 1,025 restricted shares vested immediately
and the remaining 1,375 unvested shares must meet certain performance criteria which has either not been defined by the Board of
Directors or the Company has determined that the probability of meeting the performance criteria is 0%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each share is restricted from the individual selling the stock
for a period from one year up to two years from the date of vesting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Of the 2,375 restricted shares, the 1,025 vested shares are
determined to have voting rights and have been included in the outstanding shares as of March 31, 2012. The remaining 1,350 unvested
shares do not have voting rights and have been excluded from the outstanding shares as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: black">For accounting purposes, the Company
determined the grant date fair value to be $0.65 per share which is the closing price of the Company&rsquo;s stock price on January
3, 2012. </FONT>The Company expensed $662, related to the 2,375 RSAs issued on January 3, 2012. No further expense will be taken
until the Board of Directors details the performance criteria.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I><U>Time Condition RSAs</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On various dates during the year ended March 31, 2012, the Company
issued 7,100 restricted shares with vesting criteria based on time conditions. As of March 31, 2012, 3,650 restricted shares were
vested with each share being restricted from the individual selling the stock for a period from three months up to two years from
the date of vesting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Of the 7,100 restricted shares, the 3,650 vested shares are
determined to have voting rights and have been included in the outstanding shares as of March 31, 2012. The remaining 3,450 unvested
shares do not have voting rights and have been excluded from the outstanding shares as of March 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="color: black">For accounting purposes, the Company
determined the weighted average grant date fair value to be $0.62 per share based on the closing price of the Company&rsquo;s stock
price on the various issue dates. </FONT>The Company expensed $2,957 related to the 7,100 RSAs and will expense the remaining $2,142
grant date fair value over the year ended March 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The following table summarizes the RSA activity:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Weighted</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">(in thousands, except grant date fair value)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Average</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Number of</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Grant Date</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Shares</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt">Unvested at March 31, 2010</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 70%; font-size: 10pt">Granted</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">300</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">0.250</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt">Canceled</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">Vested</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">300</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">Unvested at March 31, 2011</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.25</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt">Granted</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">25,325</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0.463</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt">Canceled</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">-</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt">Vested</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(9,958</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">0.618</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">Unvested at March 31, 2012</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">15,667</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">0.36</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>13.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Employee Benefit Plans</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company has an employee 401(k) savings plan covering full-time
eligible employees.&nbsp;&nbsp;These employees may contribute eligible compensation up to the annual IRS limit. The Company does
not make matching contributions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>14.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Income Taxes</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The difference between taxes at actual rates and the federal
statutory rate was as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Year Ended</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">Year Ended</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">March 31</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">March 31</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">2012</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center">2011</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 62%; font-size: 10pt; text-align: left">Statutory Federal Income Taxes</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font-size: 10pt; text-align: right">(10,086</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; font-size: 10pt; text-align: right">(2,528</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">State income taxes, net of federal benefit</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(1,447</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(440</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left">Write down of goodwill and other perm diff</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,790</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">535</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Foreign Expense</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">88</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">(809</TD><TD STYLE="font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Increase in Valuation Allowance</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">9,765</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">2,680</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Income tax provision (benefit)</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">110</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">(562</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Less discontinued Operations</TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">809</TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt">Income tax provision (benefit) for Continuing Ops</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">110</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right">247</TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deferred tax assets and liabilities consist of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 65%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Year Ended</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">Year Ended</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">March 31,</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">March 31,</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">2012</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">2011</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 62%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Net Operating Loss Carryforward</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">24,188</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">22,891</FONT></TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Amortization of Intangible Asset</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,404</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">(1,404</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Stock-based compensation</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">11,735</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">3,358</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Credit Carryforwards</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">(248</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Other</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">54</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">(15</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">Deferred Tax</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">34,326</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">24,830</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">Valuation Allowance</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">(34,326</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">(24,830</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">Net Deferred Tax Asset</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 2.5pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">-</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In accordance with ASC 740 and based on all available evidence
on a jurisdictional basis, the Company believes that, it is more likely than not that its deferred tax assets will not be utilized,
and has recorded a full valuation allowance against its net deferred tax assets in each jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, the Company had net operating loss (NOL)
carry-forwards to reduce future Federal income taxes of approximately $60,355, expiring in various years ranging through 2031.
Utilization of the NOLs may be subject to a substantial annual limitation due to ownership change limitations that may have occurred
or that could occur in the future, as required by Section 382 of the Internal Revenue Code of 1986, as amended (the &quot;Code&quot;),
as well as similar state limitations.&nbsp;&nbsp;These ownership changes may limit the amount of NOLs that can be utilized annually
to offset future taxable income and tax, respectively.&nbsp;&nbsp;In general, an &quot;ownership change&quot; as defined by Section
382 of the Code, results from a transaction of series of transactions over a three-year period resulting in an ownership change
of more than 50 percentage points of the outstanding stock by a company by certain stockholders or public groups.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, realization of the Company's net deferred
tax asset of approximately $34,326 was not considered more likely than not and, accordingly, a valuation allowance of $34,326 has
been provided. During the year ended March 31, 2012, the valuation allowance increased by $9,496.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ASC 740 requires the consideration of a valuation allowance
to reflect the likelihood of realization of deferred tax assets.&nbsp;&nbsp;Significant management judgment is required in determining
any valuation allowance recorded against deferred tax assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company adopted the provisions of ASC 740 on January 1,
2008 and there was no difference between the amounts of unrecognized tax benefits recognized in the balance sheet prior to the
adoption of ASC 740 and those after the adoption of ASC 740. There were no unrecognized tax benefits not subject to valuation allowance
as at March 31, 2012 and March 31, 2011. The Company recognized no interest and penalties on income taxes in its statement of operations
for the year ended March 31, 2012; or the year ended March 31, 2011.&nbsp;&nbsp;Management has evaluated and concluded that there
are no significant uncertain tax positions requiring recognition in the Company&rsquo;s financial statements as of March 31, 2012.
The Company&rsquo;s Federal and State income tax returns remain subject to examination for all tax years ended 2008 and 2007, respectively.
The Company is currently under audit examination by the IRS of the tax year December 31, 2010.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>15.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Segment and Geographic information</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company operates in one reportable segment in which it is
a developer and publisher of branded entertainment content for mobile phones. Revenues are attributed to geographic areas based
on the country in which the carrier&rsquo;s principal operations are located. The Company attributes its long-lived assets, which
primarily consist of property and equipment, to a country primarily based on the physical location of the assets. Goodwill and
intangibles are not included in this allocation. The following information sets forth geographic information on our sales and net
property and equipment for the period ended March 31, 2012:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">North</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Other</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">America</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Europe</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Regions</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Consolidated</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Twelve Months ended March 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 44%; text-align: left; padding-left: 9pt">Net sales to unaffiliated customers</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">215</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,977</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">2,038</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,230</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">at March 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">177</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">52</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">230</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">North</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">Other</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">America</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Europe</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Regions</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid">Consolidated</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Twelve Months ended March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 44%; text-align: left; padding-left: 9pt">Net sales to unaffiliated customers</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">688</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">6,819</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">1,679</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9,186</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 9pt">at March 31, 2011</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">322</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">65</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">388</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Our largest customer accounted for 41% of gross revenues in
the year ended March 31, 2012; and 49%&nbsp;in the year ended March 31, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>16.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Commitments and Contingencies</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Operating Lease Obligations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company leases office facilities and equipment under noncancelable
operating leases expiring in various years through 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Following is a summary of future minimum payments under initial
terms of leases as of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Year Ending March 31,</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 84%; text-align: left; padding-left: 0.5in">2013</TD><TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">32</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.5in">2014</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total minimum lease payments</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">37</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These amounts do not reflect future escalations for real estate
taxes and building operating expenses.&nbsp;&nbsp;Rental expense for continuing operations amounted to $170 and $291, respectively,
for the years ended March 31, 2012 and&nbsp;2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Other Obligations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March 31, 2012, the Company was obligated for payments
under various distribution agreements, equipment lease agreements, employment contracts and consulting agreements with initial
terms greater than one year at March 31, 2012.&nbsp;&nbsp;Annual payments relating to these commitments at March 31, 2012 are as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 88%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Year Ending March 31,</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 84%; text-align: left; padding-bottom: 1pt; padding-left: 0.5in">2013</TD><TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 12%; border-bottom: Black 1pt solid; text-align: right">1,108</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total minimum payments</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,108</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 28, 2011, the Company entered into an employment
agreement with Peter Adderton to serve as the Company&rsquo;s Chief Executive Officer and as a member of the Company&rsquo;s Board
of Directors.&nbsp; The term of the agreement is one year.&nbsp; Pursuant to the agreement, the Company agreed to the following:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Annual Fees: For all services rendered by the Chief Executive Officer under this agreement, the Company shall pay the Executive
an aggregate fee of four hundred fifty thousand dollars ($450,000) per annum.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Special Incentive Bonus:&nbsp; Mr. Adderton&nbsp; is to receive a bonus of $250,000 payable (A) 50% upon completion of a $5
million financing(s) during the two years following the date of the employment agreement (&ldquo;Measurement Period&rdquo;)&nbsp;
and (B) the remaining $125,000 upon the successful completion of additional debt or equity financing(s) during the Measurement
Period, which, when aggregated with any prior financings during the Measurement Period, result in the Company realizing at least
$10 million of gross proceeds.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Annual Bonus:&nbsp; Mr. Adderton shall be entitled to be paid an annual incentive bonus in cash in an amount of up to 100%
of his salary based upon satisfaction of performance-related milestones. The performance-related milestones shall be mutually determined
by the Board of Directors and Mr. Adderton within sixty (60) days of the effective Date of the employment agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Restricted Stock Grant: The Company granted Mr. Adderton 9,037,500 shares of the Company&rsquo;s restricted common stock, subject
to the certain terms and conditions specified in the restricted stock agreement, which shall vest as follows: (i) one third (1/3)
shall vest immediately upon the completion of one or more debt or equity financings during the Measurement Period in favor of the
Company&nbsp; of gross proceeds of at least $5 million; (ii) one third (1/3) shall vest immediately if on any date during the Measurement
Period the Company&rsquo;s total enterprise value (computed by multiplying the number of outstanding shares of the Employer&rsquo;s
common stock on a fully diluted (taking into account only those stock options that are in-the-money on such date), as-converted
basis by the average daily trading price for the Company&rsquo;s common stock for the thirty (30) trading day period immediately
preceding the date of determination) equals or exceeds $100 million; and (iii) one third (1/3) shall vest immediately if on any
date during the Measurement Period the Company&rsquo;s total enterprise value (calculated as set forth in clause (ii) above) equals
or exceeds $200 million; provided , however , that all unvested shares of restricted common stock shall vest immediately upon the
sale of all or substantially all of the assets of the Company, upon the merger or reorganization of the Company following which
the equity holders of the Company immediately prior to the consummation of such merger or reorganization collectively own less
than 50% of the voting power of the resulting entity, or upon the sale of equity securities of the Company representing 50% or
more of the voting power of the Company or 50% or more of the economic interest in the Company in a single transaction or in a
series of related transactions (i.e., a &ldquo;Change of Control&rdquo;). All shares shall be subject to a one (1) year lock-up
following the vesting of such shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Additional Performance Bonuses:&nbsp; Mr. Adderton shall be entitled to payment of (i) a performance bonus equal to $2.5 million
in cash or registered and freely tradable stock of the Company, at Mr. Adderton&rsquo;s choice, if, on any date during the Measurement
Period the Company&rsquo;s total enterprise value (calculated as set forth in Section 4(e)(ii) above) equals or exceeds $150 million;
and (ii) payment of a performance bonus equal to $10 million in cash or registered and freely tradable stock of the Company, at
Mr.&nbsp; Adderton&rsquo;s choice, if, on any date during the Measurement Period, the Company&rsquo;s total enterprise value (calculated
as set forth in Section 4(e)(ii) above) equals or exceeds $1 billion. Any bonus payable under this subsection (f) shall vest upon
the achievement of the specified criteria and shall be paid on or within thirty (30) days of such vesting date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company entered into an agreement with Robert Ellin to serve
as the Company&rsquo;s&nbsp;Executive Chairman.&nbsp; The term of the agreement is one year.&nbsp; Pursuant to the agreement, the
Company agreed to the following:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Annual Fees: For all services rendered by the Chairman under this agreement, the Company shall pay the Chairman an aggregate
fee of four hundred fifty thousand dollars ($450,000) per annum.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Annual Bonus:&nbsp; Mr. Ellin shall be entitled to be paid an annual incentive bonus in cash in an amount of up to 100% of
his salary based upon satisfaction of performance-related milestones. The performance-related milestones shall be mutually determined
by the Board of Directors and Mr. Ellin within sixty (60) days of the effective Date of the employment agreement.</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Restricted Stock Grant: The Company granted Mr. Ellin 3,400,000 shares of the Company&rsquo;s restricted common stock, subject
to the certain terms and conditions specified in the restricted stock agreement, which shall vest as follows: (i) one third (1/3)
shall vest immediately upon the completion of one or more debt or equity financings during the Measurement Period in favor of the
Company&nbsp; of gross proceeds of at least $5 million; (ii) one third (1/3) shall vest immediately if on any date during the Measurement
Period the Company&rsquo;s total enterprise value (computed by multiplying the number of outstanding shares of the Employer&rsquo;s
common stock on a fully diluted (taking into account only those stock options that are in-the-money on such date), as-converted
basis by the average daily trading price for the Company&rsquo;s common stock for the thirty (30) trading day period immediately
preceding the date of determination) equals or exceeds $100 million; and (iii) one third (1/3) shall vest immediately if on any
date during the Measurement Period the Company&rsquo;s total enterprise value (calculated as set forth in clause (ii) above) equals
or exceeds $200 million; provided , however , that all unvested shares of restricted common stock shall vest immediately upon the
sale of all or substantially all of the assets of the Company, upon the merger or reorganization of the Company following which
the equity holders of the Company immediately prior to the consummation of such merger or reorganization collectively own less
than 50% of the voting power of the resulting entity, or upon the sale of equity securities of the Company representing 50% or
more of the voting power of the Company or 50% or more of the economic interest in the Company in a single transaction or in a
series of related transactions (i.e., a &ldquo;Change of Control&rdquo;). All shares shall be subject to a one (1) year lock-up
following the vesting of such shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>Additional Performance Bonuses:&nbsp; Mr. Ellin shall be entitled to payment of (i) a performance bonus equal to $1.5 million
in cash or registered and freely tradable stock of the Company, at Mr. Ellin&rsquo;s choice, if, on any date during the Measurement
Period the Company&rsquo;s total enterprise value (calculated as set forth in Section 4(e)(ii) above) equals or exceeds $150 million;
and (ii) payment of a performance bonus equal to $3.3 million in cash or registered and freely tradable stock of the Company, at
Mr.&nbsp; Ellin&rsquo;s choice, if, on any date during the Measurement Period, the Company&rsquo;s total enterprise value (calculated
as set forth in Section 4(e)(ii) above) equals or exceeds $1 billion. Any bonus payable under this subsection (f) shall vest upon
the achievement of the specified criteria and shall be paid on or within thirty (30) days of such vesting date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Litigation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Twistbox&rsquo;s wholly owned subsidiary, WAAT Media Corp. (&ldquo;WAAT&rdquo;)
and General Media Communications, Inc. (&ldquo;GMCI&rdquo;) were parties to a content license agreement dated May 30, 2006, whereby
GMCI granted to WAAT certain exclusive rights to exploit GMCI branded content via mobile devices. GMCI terminated the agreement
on January 26, 2009 based on its claim that WAAT failed to cure a material breach pertaining to the non-payment of a minimum royalty
guarantee installment in the amount of $485. On or about March 16, 2009, GMCI filed a complaint seeking the balance of the minimum
guarantee payments due under the agreement in the approximate amount of $4,085. WAAT counter-sued claiming GMCI was not entitled
to the claimed amount and that it had breached the agreement by, among other things, failing to promote, market and advertise the
mobile services as required under the agreement and by fraudulently inducing WAAT to enter into the agreement based on GMCI&rsquo;s
repeated assurances of its intention to reinvigorate its flagship brand. GMCI filed a demurrer to the counter-claim. WAAT subsequently
filed an amended counter-claim. On August 16, 2011, the LA Superior Court ruled in favor of WAAT&rsquo;s Summary Judgment Motion.
As a result, GMCI&rsquo;s potential damages were limited to the amount of minimum royalty installments that accrued prior to termination
of the content license agreement in the amount of approximately $800. Trial had been scheduled for April 16, 2012, however on December
22, 2011 the parties agreed to a settlement of $300 in favor of GMCI, pursuant to which WAAT will be required to pay GMCI $300
over a 30 month period, beginning December 28, 2011. As of March 31, 2012 the Company has accrued $260, which is included in Accounts
Payable on the balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On March 6, 2012 the Company received a notice of levy in the
amount of $73 pertaining to a dispute with a service provider. The Company has recorded the full amount in Accounts Payable on
the consolidated balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 4, 2012 the Company received notice of a judgment in
the amount of &pound;23 pertaining to a dispute with a previous employee. The Company has recorded the full amount in Accrued Compensation
on the consolidated balance sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company is subject to various claims and legal proceedings
arising in the normal course of business. Based on the opinion of the Company&rsquo;s legal counsel, management believes that the
ultimate liability, if any in the aggregate of other claims will not be material to the financial position or results of operations
of the Company for any future period; and no liability has been accrued.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE ALIGN="CENTER" CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12px; text-autospace: ideograph-numeric ideograph-other">&nbsp;</TD>
    <TD STYLE="width: 36px; text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>17.</B></TD>
    <TD STYLE="text-autospace: ideograph-numeric ideograph-other; font-weight: bold"><B>Subsequent Events</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As previously reported on a Current Report on Form 8-K filed
March 23, 2012, on February 22, 2012, the Company received notice from the OTC Bulletin Board (OTC BB) that its common stock would
be removed from OTC BB under NASD Rule 6530(e), under which any OTC BB issuer that is delinquent in its reporting obligations
three times in a 24-month period is ineligible for quotation on the OTC BB for a period of one year. The Company requested and
received a hearing to review the OTC BB's determination, which occurred on April 2, 2012 before the Financial Industry Regulatory
Authority (FINRA). On May 16, 2012, the Company received notice of decision from FINRA that the Company&rsquo;s securities are
not eligible for continued quotation on the OTC BB and would be promptly removed from the OTC BB. The Company believes that while
it is seeking a long term solution to enhanced stockholder liquidity, its common stock will continue to be traded in other over
the counter markets under its same ticker symbol (MNDL or MNDLE), such as the OTC Market's OTC QB (accessed through <U>www.otcmarkets.com</U>,
but not incorporated by reference herein). Although there are no guarantees of success, the Company is actively pursuing appropriate
steps to ensure the long term liquidity of the Company's common stock, including seeking listing on a national securities exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On April 12, 2012, the Company entered into a Separation and
General Release Agreement with Mr. David Mandell, Executive Vice President and General Counsel of Mandalay Digital Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 6, 2012, the Board of Directors of the Company elected
Mr. Christopher Rogers as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As previously reported on a Current Report on Form 8-K filed
May, 30, 2012, on May 18, 2012 the Company entered into amendments to the restricted stock agreements governing grants of shares
of restricted common stock made to Mr. Peter Adderton, chief executive officer, and Mr. Robert Ellin, executive chairman, the original
details of which were previously disclosed on the Company&rsquo;s Current Report on Form 8-K filed on January 4, 2012. These amendments
clarified that the holders of such shares have all rights of a stockholder with respect to those shares (vested or unvested), including
voting and dividend rights, subject to the restrictions and forfeiture provisions of the restricted stock agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 23, 2012, the Company received the written consent from
stockholders holding a majority of its outstanding common stock to permit (but not require) the Board of Directors of the Company
to amend its Amended and Restated Certificate of Incorporation to (i) effect a reverse stock split of the Company&rsquo;s common
stock at any time prior to April 26, 2013, by a ratio of not less than one-for-two and not more than one-for-ten, with the exact
ratio to be set at a whole number within this range as determined by the Board of Directors in its sole discretion (the &ldquo;Reverse
Stock Split&rdquo;) and (ii) to increase the number of authorized shares of the Company&rsquo;s capital stock to 202,000,000 shares
of stock, of which 200,000,000 shares would be classified as Company common stock and 2,000,000 shares would be classified as Company
preferred stock (the &ldquo;Authorized Stock Increase&rdquo;). In addition, such stockholders, pursuant to the written consent,
also approved the Company&rsquo;s Amended and Restated 2011 Equity Incentive Plan of the Company, and related forms of Equity Incentive
Plan Notice of Grant Restricted Stock Agreement, and Notice of Grant and Stock Option Agreement (the &ldquo;Plan Approval&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June 7, 2012, the Company entered into an Equity Financing
Binding Term Sheet, with an accredited investor, pursuant to which the Company agreed to issue an aggregate of 1,428,571 shares
of its common stock and warrants to purchase 357,142 shares of its common stock (subject to adjustment), for an aggregate purchase
price of $1,000,000. The warrants have an exercise price of $0.70 per share (subject to adjustment) and a five year term. In addition,
the Equity Agreement provides that (a) the Company will use its best efforts to file a registration statement covering the shares
of common stock issued and the shares of common stock issuable upon exercise of the warrants within 120 calendar days after the
date of the Equity Agreements and use its best efforts to cause the registration statement to become effective as soon as possible
thereafter; and (b) the applicable investor will have a right to participate in future financings by the Company (subject to standard
exceptions) for a period of two years on a pro rata basis in accordance with his ownership interests in the Company (on a fully
diluted basis assuming exercise of the applicable warrant).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mandalay Digital Group, Inc. and Subsidiaries</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(formerly known as NeuMedia, Inc.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June, 7, 2012, Adage Capital Partners, LP agreed that it
would not to abstain from exercising its warrant to purchase 2,500,000 shares of common stock, issued December 29, 2011, as amended
March 1, 2012, until informed in writing by the Company that the Company has increased its authorized capital sufficiently so that
exercise can be effectuated without the Company being in an over-issuance position with respect to the shares underlying such warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On June, 7, 2012, TAJA, LLC agreed that it would abstain
from exercising the following warrants and convertible note, until informed in writing by the Company that the Company has increased
its authorized capital sufficiently so that exercise can be effectuated without the Company being in an over-issuance position
with respect to the shares underlying such warrants and note: (1) Warrant to Purchase 1,071,429 shares of Common Stock, issued
December 29, 2011, as amended on March 1, 2012; (2) Warrant to Purchase 2,000,000 shares of Common Stock issued December 29 ,2011
as amended on March 1, 2012; (3) Unsecured Subordinated Convertible Note, due June 21, 2015, in the original principal amount of
$3,000,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TYPE>EX-2.8
<SEQUENCE>2
<FILENAME>v316695_ex2-8.htm
<DESCRIPTION>EXHIBIT 2.8
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>STATE OF DELAWARE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>CERTIFICATE OF OWNERSHIP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 322.55pt; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>SUBSIDIARY INTO PARENT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Section 253</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 261.6pt; text-indent: -58.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>CERTIFICATE OF OWNERSHIP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>MERGING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MANDALAY DIGITAL GROUP, INC., A DELAWARE
CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INTO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NEUMEDIA, INC., A DELAWARE CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Pursuant to Section 253 of the General
Corporation Law of Delaware)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">NeuMedia, Inc., a corporation incorporated
on the 14th day of September 2007 pursuant to the provisions of the General Corporation Law of the State of Delaware (the &ldquo;<U>Corporation</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>DOES HEREBY CERTIFY, </B>that the Corporation
owns 100% of the capital stock of Mandalay Digital Group, Inc., a corporation incorporated on the 3rd day of February 2012, pursuant
to the provisions of the General Corporation Law of the State of Delaware (the &ldquo;<U>Subsidiary</U>&rdquo;), and that the Corporation,
by unanimous written consent of the Board of Directors duly adopted on the 1st day of February 2012, determined to and did merge
into itself said Subsidiary, which resolution is in the following words to wit:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>WHEREAS, </B>the Corporation lawfully
owns 100% of the outstanding stock of the Subsidiary; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>WHEREAS, </B>the Corporation desires
to merge into itself said Subsidiary and to be possessed of all the estate, property, rights, privileges and franchises of said
Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>NOW, THEREFORE, BE IT RESOLVED, </B>that
the Corporation merge into itself said Subsidiary and assumes all of its liabilities and obligations;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>FURTHER RESOLVED, </B>that an authorized
officer of the Corporation be and is hereby directed to make and execute a certificate of ownership setting forth a copy of the
resolution to merge said Subsidiary and assume its liabilities and obligations, and the date of adoption thereof, and to file the
same in the office of the Secretary of State of Delaware, and a certified copy thereof in the office of the Recorder of Deeds of
Kent County;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>RESOLVED FURTHER, </B>that the Corporation
relinquishes its corporate name and assumes in place thereof the name Mandalay Digital Group, Inc.; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>RESOLVED FURTHER, </B>that the officers of the Corporation
be and they hereby are authorized and directed to do all acts and things whatsoever, whether within or without the State of Delaware,
which may be in any way necessary or proper to effect said merger.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[signature page follows]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>IN WITNESS
WHEREOF, </B><FONT STYLE="font-weight: normal; font-style: normal">said parent Corporation hag caused this certificate to be signed
by an authorized officer this 2<SUP>nd</SUP> day of February 2012.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; text-autospace: none; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-autospace: none"><B>NEUMEDIA, INC.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-autospace: none; font-weight: bold; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-autospace: none"><B>A</B> <B>Delaware corporation</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-autospace: none; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-autospace: none">&nbsp;</TD></TR>
<TR>
    <TD STYLE="width: 50%; vertical-align: bottom; text-autospace: none; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 5%; vertical-align: top; text-autospace: none">By:</TD>
    <TD STYLE="width: 45%; vertical-align: top; text-autospace: none; border-bottom: Black 1pt solid">/s/ David Mandell</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-autospace: none; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-autospace: none">Name: David Mandell</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-autospace: none; text-align: right">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; text-autospace: none">Title: Secretary</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 201.35pt"><B>&nbsp;</B></P>

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<DOCUMENT>
<TYPE>EX-4.10
<SEQUENCE>3
<FILENAME>v316695_ex4-10.htm
<DESCRIPTION>EXHIBIT 4.10
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE SECURITIES ISSUABLE UPON EXERCISE OF
THIS WARRANT HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN
RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 132.15pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>MANDALAY DIGITAL GROUP,
INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 148.95pt; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>COMMON STOCK WARRANT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Effective Date: March 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Documentation Date: May 16, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mandalay Digital Group,
Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;) hereby certifies that, for value received, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (together with his/its registered assigns, &ldquo;<B>Holder</B>&rdquo;), is entitled
to purchase from the Company up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of Common Stock (each such share, a &ldquo;<B>Warrant Share</B>&rdquo; and all
such shares, the &ldquo;<B>Warrant Shares</B>&rdquo;), at any time and from time to time from and after March 19, 2013 (the &ldquo;<B>First
Exercise Date</B>&rdquo;), through and including March 19, 2017 (the &ldquo;<B>Expiration Date</B>&rdquo;), subject to the following
terms and conditions set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties agree and
acknowledge that this Warrant (i) is being documented and signed on the Documentation Date listed above but is effective and issued
as of the Effective Date listed above and (ii) fully satisfies all agreements between the parties that called for the issuance
of a warrant in connection with equity and/or debt investments made by the Holder in the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
As used in this Warrant, the following terms shall have the respective definitions set forth in this Section 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Business
Day</B>&rdquo; means any day except Saturday, Sunday and any day that is a federal legal holiday in the United States or a day
on which banking institutions in the State of California are authorized or required by law or other government action to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>California
Courts</B>&rdquo; means the state and federal courts sitting in Los Angeles County, California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Common Stock</B>&rdquo;
means the common stock of the Company, par value $0.0001 per share, and any securities into which such common stock may hereafter
be reclassified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;&#9;<B>Exercise
Price</B>&rdquo;<B> </B>means $0.70, subject to adjustment in accordance with Section 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Fundamental
Transaction</B>&rdquo; means any of the following: (1) the Company effects any merger or consolidation of the Company with or into
another Person, (2) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions,
(3) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange their shares for other securities, cash or property, or (4) the Company effects any reclassification
of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Person</B>&rdquo;
means any entity, corporation, company, association, joint venture, joint stock company, partnership (whether general, limited
or limited liability), trust, limited liability company, real estate investment trust, organization, individual (including any
personal representative, executor or heir of a deceased individual), nation, state, government (including any agency, department,
bureau, board, division or instrumentality thereof), trustee, receiver or liquidator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Trading Day</B>&rdquo;<B>
</B>means (i) a day on which the Common Stock is traded on a Trading Market (other than the OTC Bulletin Board), or (ii) if the
Common Stock is not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in
the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading Market,
a day on which the Common Stock is quoted in the over-the-counter market as reported by the highest tier of the OTC Markets on
which the Common Stock is then quoted (or any similar organization or agency succeeding to its functions of reporting prices);
provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading
Day shall mean a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Trading Market</B>&rdquo;
means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question:
the NYSE AMEX, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange
or the OTC Bulletin Board (or any successors to any of the foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration of Warrant</U>. The Company shall register this Warrant upon
records to be maintained by the Company for that purpose (the &ldquo;<B>Warrant Register</B>&rdquo;), in the name of the record
Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof
for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to
the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration of Transfers</U>. The Company shall register the transfer of
any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, with the Form of Assignment attached hereto
duly completed and signed, to the Company at its address specified herein. Upon any such registration or transfer, a new Warrant
to purchase Common Stock, in substantially the form of this Warrant (any such new Warrant, a &ldquo;<B>New Warrant</B>&rdquo;),
evidencing the portion of this Warrant so transferred shall be issued to the transferee and a New Warrant evidencing the remaining
portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder. The acceptance of the New Warrant
by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations of a holder of
a Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise and Duration of Warrants</U>. This Warrant shall be exercisable by
the registered Holder at any time and from time to time from and after the First Exercise Date through and including the Expiration
Date. At 5:00 p.m., Los Angeles time on the Expiration Date, the portion of this Warrant not exercised prior thereto shall be
and become void and of no value. The Company may not call or redeem any portion of this Warrant without the prior written consent
of the affected Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -35.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -35.95pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
of Warrant Shares</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To effect exercises hereunder, the Holder shall not be required to physically
surrender this Warrant unless the aggregate Warrant Shares represented by this Warrant is being exercised. Upon delivery of the
Exercise Notice (in the form attached hereto) to the Company (with the attached Warrant Shares Exercise Log) at its address for
notice set forth herein and upon payment of the Exercise Price multiplied by the number of Warrant Shares that the Holder intends
to purchase hereunder, the Company shall promptly issue and deliver to the Holder, a certificate for the Warrant Shares issuable
upon such exercise, which shall bear a restricted stock legend under the Securities Act, similar to the one on the face of this
Warrant, unless (i) such exercise is pursuant to Section 10(b) and (ii) as of the Date of Exercise the Holder is not, and has not
been for the previous 90 days, an &ldquo;affiliate&rdquo; of the Company (as defined in Rule 144 under the Securities Act). A &ldquo;<B>Date
of Exercise</B>&rdquo; means the date on which the Holder shall have delivered to the Company: (i) the Exercise Notice (with the
Warrant Exercise Log attached to it), appropriately completed and duly signed and (ii) if such Holder is not utilizing the cashless
exercise provisions set forth in the Warrant, payment of the Exercise Price for the number of Warrant Shares so indicated by the
Holder to be purchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&rsquo;s obligations to issue and deliver Warrant Shares in accordance
with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same,
any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce
the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or
any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person,
and irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection
with the issuance of Warrant Shares. Nothing herein shall limit a Holder&rsquo;s right to pursue any other remedies available to
it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with
respect to the Company&rsquo;s failure to timely deliver certificates representing Warrant Shares upon exercise of the Warrant
as required pursuant to the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Charges, Taxes and Expenses</U>. Issuance and
delivery of Warrant Shares upon exercise of this Warrant shall be made without charge to the Holder for any issue or transfer
tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of the issuance of such certificates, all
of which taxes and expenses shall be paid by the Company; provided, however, that the Company shall not be required to pay any
tax which may be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or Warrants
in a name other than that of the Holder. The Holder shall be responsible for all other tax liability that may arise as a result
of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Replacement of Warrant</U>. If this Warrant
is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon
cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity (which shall not include
a surety bond), if requested. Applicants for a New Warrant under such circumstances shall also comply with such other reasonable
regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe. If a New Warrant is requested
as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant to the Company as a condition
precedent to the Company&rsquo;s obligation to issue the New Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation of Warrant Shares</U>. The Company covenants that it
will at all times reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common
Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number
of Warrant Shares which are then issuable and deliverable upon the exercise of this entire Warrant (taking into account the adjustments
and restrictions of Section 9). The Company covenants that all Warrant Shares so issuable and deliverable shall, upon issuance
and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly authorized, issued and
fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain Adjustments</U>. The Exercise Price
and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth in
this Section 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock Dividends and Splits</U>. If the Company (i) pays a stock dividend on
its Common Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii)
subdivides outstanding shares of Common Stock into a larger number of shares, or (iii) combines outstanding shares of Common Stock
into a smaller number of shares, then in each such case the Exercise Price shall be multiplied by a fraction of which the numerator
shall be the number of shares of Common Stock outstanding immediately before such event and of which the denominator shall be
the number of shares of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this
paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such
dividend or distribution, and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately
after the effective date of such subdivision or combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;Fundamental Transactions</U>. If, at any time while this Warrant is outstanding
there is a Fundamental Transaction, then the Holder shall have the right thereafter to receive, upon exercise of this Warrant,
the same amount and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such
Fundamental Transaction if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant
Shares then issuable upon exercise in full of this Warrant (the &ldquo;<B>Alternate Consideration</B>&rdquo;). For purposes of
any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration
based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction,
and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative
value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities,
cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate
Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The terms of any agreement
pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to
comply with the provisions of this paragraph (b) and insuring that the Warrant (or any such replacement security) will be similarly
adjusted upon any subsequent transaction analogous to a Fundamental Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number of Warrant Shares</U>. Simultaneously with any adjustment to the Exercise
Price pursuant to this Section 9, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased
or decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the adjusted number
of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Calculations</U>. All calculations under this Section 9 shall be made to the
nearest cent or the nearest 1/100<SUP>th</SUP> of a share, as applicable. The number of shares of Common Stock outstanding at
any given time shall not include shares owned or held by or for the account of the Company, and the disposition of any such shares
shall be considered an issue or sale of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice of Adjustments</U>. Upon the occurrence of each adjustment pursuant
to this Section 9, the Company at its expense will promptly compute such adjustment in accordance with the terms of this Warrant
and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price and adjusted number
or type of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing the transactions
giving rise to such adjustments and showing in detail the facts upon which such adjustment is based. Upon written request, the
Company will promptly deliver a copy of each such certificate to the Holder and to the Company&rsquo;s Transfer Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice of Corporate Events</U>. If the Company (i) declares a dividend or
any other distribution of cash, securities or other property in respect of its Common Stock, including without limitation any
granting of rights or warrants to subscribe for or purchase any capital stock of the Company or any subsidiary of the Company,
(ii) authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction
or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company, then the Company shall
deliver to the Holder a notice describing the material terms and conditions of such transaction (but only to the extent such disclosure
would not result in the dissemination of material, non-public information to the Holder) at least 10 calendar days prior to the
applicable record or effective date on which a Person would need to hold Common Stock in order to participate in or vote with
respect to such transaction, and the Company will take all steps reasonably necessary in order to insure that the Holder is given
the practical opportunity to exercise this Warrant prior to such time so as to participate in or vote with respect to such transaction;
provided, however, that the failure to deliver such notice or any defect therein shall not affect the validity of the corporate
action required to be described in such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment of Exercise Price</U>. The Holder may pay the Exercise
Price in one of the following manners:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cash Exercise</U>. The Holder may deliver immediately available funds;
or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cashless Exercise</U>. If an Exercise Notice is delivered at a time when a
registration statement permitting the Holder to resell the Warrant Shares is not then effective or the prospectus forming a part
thereof is not then available to the Holder for the resale of the Warrant Shares, then the Holder may notify the Company in an
Exercise Notice of its election to utilize cashless exercise, in which event the Company shall issue to the Holder the number
of Warrant Shares determined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">X = Y [(A-B)/A]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108.05pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108.05pt; text-align: justify">where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">X = the number of Warrant
Shares to be issued to the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">Y = the number of Warrant
Shares with respect to which this Warrant is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">A = the average of the closing
prices for the 30 Trading Days immediately prior to (but not including) the Date of Exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt; text-align: justify">B = the Exercise Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of Rule 144 promulgated under
the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless exercise transaction
shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced,
on the date this Warrant was originally issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Fractional Shares</U>. No fractional shares of Warrant
Shares will be issued in connection with any exercise of this Warrant. In lieu of any fractional shares which would, otherwise
be issuable, the Company shall pay cash equal to the product of such fraction multiplied by the closing price of one Warrant Share
as reported by the applicable Trading Market on the Date of Exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>. Any and all notices or other communications
or deliveries hereunder (including, without limitation, any Exercise Notice) shall be in writing and shall be deemed given and
effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile
number specified in this Section prior to 5:00 p.m. (Los Angeles time) on a Trading Day, (ii) the next Trading Day after the date
of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in this Section
on a day that is not a Trading Day or later than 5:00 p.m. (Los Angeles time) on any Trading Day, (iii) the Trading Day following
the date of mailing, if sent by nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom
such notice is required to be given. The addresses for such communications shall be: (i) if to the Company, to Mandalay Digital
Group, Inc., 4751 Wilshire Blvd., 3rd Floor, Los Angeles, California 90010, Attn: Chief Executive Officer, or to Facsimile No.:
<FONT STYLE="font-size: 10pt">(</FONT>323) 549-9824 (or such other address as the Company shall indicate in writing in accordance
with this Section), or (ii) if to the Holder, to the address or facsimile number appearing on the Warrant Register or such other
address or facsimile number as the Holder may provide to the Company in accordance with this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Warrant Agent</U>. The Company shall serve as warrant agent
under this Warrant. Upon 10 days&rsquo; notice to the Holder, the Company may appoint a new warrant agent. Any corporation into
which the Company or any new warrant agent may be merged or any corporation resulting from any consolidation to which the Company
or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent transfers substantially
all of its corporate trust or shareholders services business shall be a successor warrant agent under this Warrant without any
further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant agent to be mailed (by
first class mail, postage prepaid) to the Holder at the Holder&rsquo;s last address as shown on the Warrant Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">14.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investor Representations.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holder hereby confirms that this Warrant and any shares of Common Stock or other
securities of the Company issued upon exercise hereof (collectively, &ldquo;<B>Securities</B>&rdquo;) are or will be acquired for
investment for the Holder&rsquo;s own account, not as a nominee or agent, and not with a view to the resale or distribution of
any part thereof, and that the Holder has no present intention of selling, granting any participation in, or otherwise distributing
the same. The Holder further represents that it does not presently have any contract, undertaking, agreement or arrangement with
any person to sell, transfer or grant participations to such person or to any third person, with respect to any of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holder is, and upon any issuance of Securities will be, an &ldquo;accredited investor&rdquo;
as defined in Rule 501(a) of Regulation D promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holder has the requisite knowledge and experience in financial and business matters
to assess the relative merits and risks of investment in the Securities and has had a full opportunity to discuss with the Company
all material aspects of investment in the Securities, including the opportunity to ask, and to receive answers to its full satisfaction,
regarding such questions as it has deemed necessary to evaluate such investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except to the extent specifically set forth herein, the Company is making no representations
and warranties with respect to the Company or the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">15. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Warrant shall be binding on and inure to the benefit of the parties hereto
and their respective successors and assigns. Subject to the preceding sentence, nothing in this Warrant shall be construed to give
to any Person other than the Company and the Holder any legal or equitable right, remedy or cause of action under this Warrant.
This Warrant may be amended only in writing signed by the Company and the Holder and their successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All questions concerning the construction, validity, enforcement and interpretation
of this Warrant shall be governed by and construed and enforced in accordance with the internal laws of the State of California,
without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of this Warrant and the transactions herein contemplated (&ldquo;<B>Proceedings</B>&rdquo;) (whether brought
against a party hereto or its respective affiliates, employees or agents) shall be commenced exclusively in the California Courts.
Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the California Courts for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction of any California
Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives
personal service of process and consents to process being served in any such Proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Warrant and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Warrant or the transactions contemplated hereby. If either party shall commence a Proceeding
to enforce any provisions of this Warrant, then the prevailing party in such Proceeding shall be reimbursed by the other party
for its attorney&rsquo;s fees and other costs and expenses incurred with the investigation, preparation and prosecution of such
Proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The headings herein are for convenience only, do not constitute a part of this
Warrant and shall not be deemed to limit or affect any of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In case any one or more of the provisions of this Warrant shall be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant shall not in
any way be affected or impaired thereby and the parties will attempt in good faith to agree upon a valid and enforceable provision
which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision
in this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to exercise of this Warrant, the Holder hereof shall not, by reason of being
a Holder, be entitled to any rights of a stockholder with respect to the Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK,
SIGNATURE PAGE FOLLOWS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Company has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">MANDALAY DIGITAL GROUP<B>,</B> INC<B>. </B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 7%">By:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid">/s/ Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 40%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: justify">AGREED AND ACKNOWLEDGED:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Signature Page to Warrant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXERCISE NOTICE&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MANDALAY DIGITAL GROUP, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WARRANT EFFECTIVE MARCH 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned Holder hereby irrevocably
elects to purchase _____________ shares of Common Stock pursuant to the above referenced Warrant. Capitalized terms used herein
and not otherwise defined have the respective meanings set forth in the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Holder hereby exercises its right to purchase _________________ Warrant Shares pursuant to the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Holder intends that payment of the Exercise Price shall be made as (check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings 2">&#163;</FONT> &ldquo;Cash Exercise&rdquo; under
Section 10</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings 2">&#163;</FONT> &ldquo;Cashless Exercise&rdquo; under
Section 10</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If the holder has elected a Cash Exercise, the holder shall pay the sum of
$____________ to the Company in accordance with the terms of the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to this Exercise Notice, the Company shall deliver to the holder _______________ Warrant Shares in accordance with the terms of
the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Dated:___________________</TD>
    <TD STYLE="text-align: justify">,_________</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">Name of Holder:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">(Print)</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">(Signature must conform in all respects to name of holder as specified on the
    face of the Warrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Warrant Shares Exercise Log</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">Date</TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Warrant</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shares Available to be</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exercised</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of Warrant Shares</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exercised</P></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt; text-align: left; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid; text-align: left; vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Warrant Shares</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Remaining to</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">be Exercised</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">MANDALAY DIGITAL
GROUP, INC.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">WARRANT ORIGINALLY
ISSUED MARCH 19, 2012 <BR>
WARRANT&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">FORM OF ASSIGNMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">[To be completed and signed only
upon transfer of Warrant]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto ________________________________ the right represented by the above-captioned
Warrant to purchase ____________ shares of Common Stock to which such Warrant relates and appoints ________________ attorney to
transfer said right on the books of the Company with full power of substitution in the premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dated: _______________, ____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">(Signature must conform in all respects to name of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">holder as specified on the face of the Warrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Address of Transferee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">In the presence of:</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; width: 25%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 25%">&nbsp;</TD>
    <TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-4.11
<SEQUENCE>4
<FILENAME>v316695_ex4-11.htm
<DESCRIPTION>EXHIBIT 4.11
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE SECURITIES ISSUABLE UPON EXERCISE OF
THIS WARRANT HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN
RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>MANDALAY DIGITAL GROUP, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>COMMON STOCK WARRANT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Effective Date: March 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Documentation Date: May 16, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mandalay Digital Group,
Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;) hereby certifies that, for value received, &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (together
with his/its registered assigns, &ldquo;<B>Holder</B>&rdquo;), is entitled to purchase from the Company up to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of
Common Stock (each such share, a &ldquo;<B>Warrant Share</B>&rdquo; and all such shares, the &ldquo;<B>Warrant Shares</B>&rdquo;),
at any time and from time to time from and after March 19, 2013 (the &ldquo;<B>First Exercise Date</B>&rdquo;), through and including
March 19, 2017 (the &ldquo;<B>Expiration Date</B>&rdquo;), subject to the following terms and conditions set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The parties agree and
acknowledge that this Warrant (i) is being documented and signed on the Documentation Date listed above but is effective and issued
as of the Effective Date listed above and (ii) fully satisfies all agreements between the parties that called for the issuance
of a warrant in connection with equity and/or debt investments made by the Holder in the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
As used in this Warrant, the following terms shall have the respective definitions set forth in this Section 1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Business
Day</B>&rdquo; means any day except Saturday, Sunday and any day that is a federal legal holiday in the United States or a day
on which banking institutions in the State of California are authorized or required by law or other government action to close.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>California
Courts</B>&rdquo; means the state and federal courts sitting in Los Angeles County, California.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Common Stock</B>&rdquo;
means the common stock of the Company, par value $0.0001 per share, and any securities into which such common stock may hereafter
be reclassified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Exercise
Price</B>&rdquo;<B> </B>means $0.70, subject to adjustment in accordance with Section 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Fundamental
Transaction</B>&rdquo; means any of the following: (1) the Company effects any merger or consolidation of the Company with or into
another Person, (2) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions,
(3) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange their shares for other securities, cash or property, or (4) the Company effects any reclassification
of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Person</B>&rdquo;
means any entity, corporation, company, association, joint venture, joint stock company, partnership (whether general, limited
or limited liability), trust, limited liability company, real estate investment trust, organization, individual (including any
personal representative, executor or heir of a deceased individual), nation, state, government (including any agency, department,
bureau, board, division or instrumentality thereof), trustee, receiver or liquidator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Trading Day</B>&rdquo;<B>
</B>means (i) a day on which the Common Stock is traded on a Trading Market (other than the OTC Bulletin Board), or (ii) if the
Common Stock is not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in
the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading Market,
a day on which the Common Stock is quoted in the over-the-counter market as reported by the highest tier of the OTC Markets on
which the Common Stock is then quoted (or any similar organization or agency succeeding to its functions of reporting prices);
provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading
Day shall mean a Business Day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Trading Market</B>&rdquo;
means any of the following markets or exchanges on which the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common Stock is listed or quoted for trading
on the date in question: the NYSE AMEX, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the
New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
of Warrant</U>. The Company shall register this Warrant upon records to be maintained by the Company for that purpose (the &ldquo;<B>Warrant
Register</B>&rdquo;), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and
for all other purposes, absent actual notice to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
of Transfers</U>. The Company shall register the transfer of any portion of this Warrant in the Warrant Register, upon surrender
of this Warrant, with the Form of Assignment attached hereto duly completed and signed, to the Company at its address specified
herein. Upon any such registration or transfer, a new Warrant to purchase Common Stock, in substantially the form of this Warrant
(any such new Warrant, a &ldquo;<B>New Warrant</B>&rdquo;), evidencing the portion of this Warrant so transferred shall be issued
to the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued
to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such
transferee of all of the rights and obligations of a holder of a Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
and Duration of Warrants</U>. This Warrant shall be exercisable by the registered Holder at any time and from time to time from
and after the First Exercise Date through and including the Expiration Date. At 5:00 p.m., Los Angeles time on the Expiration Date,
the portion of this Warrant not exercised prior thereto shall be and become void and of no value. The Company may not call or redeem
any portion of this Warrant without the prior written consent of the affected Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -35.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: -35.95pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery
of Warrant Shares</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
effect exercises hereunder, the Holder shall not be required to physically surrender this Warrant unless the aggregate Warrant
Shares represented by this Warrant is being exercised. Upon delivery of the Exercise Notice (in the form attached hereto) to the
Company (with the attached Warrant Shares Exercise Log) at its address for notice set forth herein and upon payment of the Exercise
Price multiplied by the number of Warrant Shares that the Holder intends to purchase hereunder, the Company shall promptly issue
and deliver to the Holder, a certificate for the Warrant Shares issuable upon such exercise, which shall bear a restricted stock
legend under the Securities Act, similar to the one on the face of this Warrant, unless (i) such exercise is pursuant to Section
10(b) and (ii) as of the Date of Exercise the Holder is not, and has not been for the previous 90 days, an &ldquo;affiliate&rdquo;
of the Company (as defined in Rule 144 under the Securities Act). A &ldquo;<B>Date of Exercise</B>&rdquo; means the date on which
the Holder shall have delivered to the Company: (i) the Exercise Notice (with the Warrant Exercise Log attached to it), appropriately
completed and duly signed and (ii) if such Holder is not utilizing the cashless exercise provisions set forth in the Warrant, payment
of the Exercise Price for the number of Warrant Shares so indicated by the Holder to be purchased.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&rsquo;s obligations to issue and deliver Warrant Shares in accordance with the terms hereof are absolute and unconditional,
irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof,
the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation
or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation
or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise
limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Nothing herein shall limit
a Holder&rsquo;s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief with respect to the Company&rsquo;s failure to timely deliver certificates
representing Warrant Shares upon exercise of the Warrant as required pursuant to the terms hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Charges,
Taxes and Expenses</U>. Issuance and delivery of Warrant Shares upon exercise of this Warrant shall be made without charge to the
Holder for any issue or transfer tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of the
issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates
for Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall be responsible for all other tax liability
that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Replacement
of Warrant</U>. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon
receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity
(which shall not include a surety bond), if requested. Applicants for a New Warrant under such circumstances shall also comply
with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe.
If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant
to the Company as a condition precedent to the Company&rsquo;s obligation to issue the New Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation
of Warrant Shares</U>. The Company covenants that it will at all times reserve and keep available out of the aggregate of its authorized
but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise
of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the exercise of this
entire Warrant (taking into account the adjustments and restrictions of Section 9). The Company covenants that all Warrant Shares
so issuable and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms
hereof, be duly and validly authorized, issued and fully paid and nonassessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Adjustments</U>. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment
from time to time as set forth in this Section 9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock
Dividends and Splits</U>. If the Company (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any
class of capital stock that is payable in shares of Common Stock, (ii) subdivides outstanding shares of Common Stock into a larger
number of shares, or (iii) combines outstanding shares of Common Stock into a smaller number of shares, then in each such case
the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record
date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause
(ii) or (iii) of this paragraph shall become effective immediately after the effective date of such subdivision or combination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fundamental
Transactions</U>. If, at any time while this Warrant is outstanding there is a Fundamental Transaction, then the Holder shall have
the right thereafter to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it
would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such
Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant (the &ldquo;<B>Alternate
Consideration</B>&rdquo;). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in
a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental
Transaction. The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any
such successor or surviving entity to comply with the provisions of this paragraph (b) and insuring that the Warrant (or any such
replacement security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Number
of Warrant Shares</U>. Simultaneously with any adjustment to the Exercise Price pursuant to this Section 9, the number of Warrant
Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately, so that after such
adjustment the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Shares shall be the same as the aggregate
Exercise Price in effect immediately prior to such adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Calculations</U>.
All calculations under this Section 9 shall be made to the nearest cent or the nearest 1/100<SUP>th</SUP> of a share, as applicable.
The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account
of the Company, and the disposition of any such shares shall be considered an issue or sale of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of Adjustments</U>. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will promptly
compute such adjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including
a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon exercise
of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon
which such adjustment is based. Upon written request, the Company will promptly deliver a copy of each such certificate to the
Holder and to the Company&rsquo;s Transfer Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
of Corporate Events</U>. If the Company (i) declares a dividend or any other distribution of cash, securities or other property
in respect of its Common Stock, including without limitation any granting of rights or warrants to subscribe for or purchase any
capital stock of the Company or any subsidiary of the Company, (ii) authorizes or approves, enters into any agreement contemplating
or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or
winding up of the affairs of the Company, then the Company shall deliver to the Holder a notice describing the material terms and
conditions of such transaction (but only to the extent such disclosure would not result in the dissemination of material, non-public
information to the Holder) at least 10 calendar days prior to the applicable record or effective date on which a Person would need
to hold Common Stock in order to participate in or vote with respect to such transaction, and the Company will take all steps reasonably
necessary in order to insure that the Holder is given the practical opportunity to exercise this Warrant prior to such time so
as to participate in or vote with respect to such transaction; provided, however, that the failure to deliver such notice or any
defect therein shall not affect the validity of the corporate action required to be described in such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment
of Exercise Price</U>. The Holder may pay the Exercise Price in one of the following manners:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cash
Exercise</U>. The Holder may deliver immediately available funds; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Cashless
Exercise</U>. If an Exercise Notice is delivered at a time when a registration statement permitting the Holder to resell the Warrant
Shares is not then effective or the prospectus forming a part thereof is not then available to the Holder for the resale of the
Warrant Shares, then the Holder may notify the Company in an Exercise Notice of its election to utilize cashless exercise, in which
event the Company shall issue to the Holder the number of Warrant Shares determined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">X = Y [(A-B)/A]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 108.05pt">where:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">X = the number of Warrant Shares to be issued to
the Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">Y = the number of Warrant Shares with respect to
which this Warrant is being exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">A = the average of the closing prices for the 30
Trading Days immediately prior to (but not including) the Date of Exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.05pt">B = the Exercise Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of Rule 144 promulgated under
the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless exercise transaction
shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced,
on the date this Warrant was originally issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Fractional Shares</U>. No fractional shares of Warrant Shares will be issued in connection with any exercise of this Warrant. In
lieu of any fractional shares which would, otherwise be issuable, the Company shall pay cash equal to the product of such fraction
multiplied by the closing price of one Warrant Share as reported by the applicable Trading Market on the Date of Exercise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice) shall
be in writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number specified in this Section prior to 5:00 p.m. (Los Angeles time) on a Trading
Day, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the
facsimile number specified in this Section on a day that is not a Trading Day or later than 5:00 p.m. (Los Angeles time) on any
Trading Day, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier service, or
(iv) upon actual receipt by the party to whom such notice is required to be given. The addresses for such communications shall
be: (i) if to the Company, to Mandalay Digital Group, Inc., 4751 Wilshire Blvd., 3rd Floor, Los Angeles, California 90010, Attn:
Chief Executive Officer, or to Facsimile No.: <FONT STYLE="font-size: 10pt">(</FONT>323) 549-9824 (or such other address as the
Company shall indicate in writing in accordance with this Section), or (ii) if to the Holder, to the address or facsimile number
appearing on the Warrant Register or such other address or facsimile number as the Holder may provide to the Company in accordance
with this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Warrant
Agent</U>. The Company shall serve as warrant agent under this Warrant. Upon 10 days&rsquo; notice to the Holder, the Company may
appoint a new warrant agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting
from any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or
any new warrant agent transfers substantially all of its corporate trust or shareholders services business shall be a successor
warrant agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession
as warrant agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder&rsquo;s last address as shown
on the Warrant Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investor
Representations</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holder
hereby confirms that this Warrant and any shares of Common Stock or other securities of the Company issued upon exercise hereof
(collectively, &ldquo;<B>Securities</B>&rdquo;) are or will be acquired for investment for the Holder&rsquo;s own account, not
as a nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Holder has no present
intention of selling, granting any participation in, or otherwise distributing the same. The Holder further represents that it
does not presently have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations
to such person or to any third person, with respect to any of the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holder
is, and upon any issuance of Securities will be, an &ldquo;accredited investor&rdquo; as defined in Rule 501(a) of Regulation D
promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Holder
has the requisite knowledge and experience in financial and business matters to assess the relative merits and risks of investment
in the Securities and has had a full opportunity to discuss with the Company all material aspects of investment in the Securities,
including the opportunity to ask, and to receive answers to its full satisfaction, regarding such questions as it has deemed necessary
to evaluate such investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
to the extent specifically set forth herein, the Company is making no representations and warranties with respect to the Company
or the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Warrant shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. Subject
to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder
any legal or equitable right, remedy or cause of action under this Warrant. This Warrant may be amended only in writing signed
by the Company and the Holder and their successors and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of California, without regard to the principles of conflicts of
law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of this Warrant
and the transactions herein contemplated (&ldquo;<B>Proceedings</B>&rdquo;) (whether brought against a party hereto or its respective
affiliates, employees or agents) shall be commenced exclusively in the California Courts. Each party hereto hereby irrevocably
submits to the exclusive jurisdiction of the California Courts for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any
Proceeding, any claim that it is not personally subject to the jurisdiction of any California Court, or that such Proceeding has
been commenced in an improper or inconvenient forum. Each party hereto hereby irrevocably waives personal service of process and
consents to process being served in any such Proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed
to limit in any way any right to serve process in any manner permitted by law. Each party hereto hereby irrevocably waives, to
the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating
to this Warrant or the transactions contemplated hereby. If either party shall commence a Proceeding to enforce any provisions
of this Warrant, then the prevailing party in such Proceeding shall be reimbursed by the other party for its attorney&rsquo;s fees
and other costs and expenses incurred with the investigation, preparation and prosecution of such Proceeding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any
of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability
of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby and the parties will
attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute therefor,
and upon so agreeing, shall incorporate such substitute provision in this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior
to exercise of this Warrant, the Holder hereof shall not, by reason of being a Holder, be entitled to any rights of a stockholder
with respect to the Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 80.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE PAGE FOLLOWS]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF,
the Company has caused this Warrant to be duly executed by its authorized officer as of the date first indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">MANDALAY DIGITAL GROUP<B>,</B> INC<B>.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Peter Adderton</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">AGREED AND ACKNOWLEDGED:</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Signature Page to Warrant</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXERCISE NOTICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MANDALAY DIGITAL GROUP, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WARRANT EFFECTIVE MARCH 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned Holder hereby irrevocably
elects to purchase _____________ shares of Common Stock pursuant to the above referenced Warrant. Capitalized terms used herein
and not otherwise defined have the respective meanings set forth in the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned Holder hereby exercises its right to purchase _________________ Warrant Shares pursuant to the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Holder intends that payment of the Exercise Price shall be made as (check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&ldquo;Cash
Exercise&rdquo; under Section 10</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&ldquo;Cashless
Exercise&rdquo; under Section 10</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the holder has elected a Cash Exercise, the holder shall pay the sum of $____________ to the Company in accordance with the terms
of the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(4)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to this Exercise Notice, the Company shall deliver to the holder _______________ Warrant Shares in accordance with the terms of
the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Dated: ___________, ____</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name of Holder:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(Print)</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">(Signature must conform in all respects to name of holder as specified on the face of the Warrant)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Warrant Shares Exercise Log</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 28%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 28%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 19%; text-align: justify">Number&nbsp;of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Number&nbsp;of&nbsp;Warrant</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Warrant&nbsp;Shares</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Shares&nbsp;Available&nbsp;to&nbsp;be</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Number&nbsp;of&nbsp;Warrant&nbsp;Shares</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Remaining&nbsp;to</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">Date</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">Exercised</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">Exercised</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify">be&nbsp;Exercised</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MANDALAY DIGITAL GROUP, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WARRANT ORIGINALLY ISSUED MARCH 19, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WARRANT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM OF ASSIGNMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">[To be completed and signed only
upon transfer of Warrant]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">FOR VALUE RECEIVED,
the undersigned hereby sells, assigns and transfers unto ________________________________ the right represented by the above-captioned
Warrant to purchase ____________ shares of Common Stock to which such Warrant relates and appoints ________________ attorney to
transfer said right on the books of the Company with full power of substitution in the premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: _______________, ____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(Signature must conform in all respects to name of</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>holder as specified on the face of the Warrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Address of Transferee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>In the presence of:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.12
<SEQUENCE>5
<FILENAME>v316695_ex4-12.htm
<DESCRIPTION>EXHIBIT 4.12
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>AMENDED AND RESTATED WARRANT ISSUE
AGREEMENT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.9pt"><B>THIS AGREEMENT
</B>(the &ldquo;Agreement&rdquo;) is made and effective as of January 1,<B> </B>2011 (&ldquo;Effective Date&rdquo;) by and between
<B>NEUMEDIA, INC. </B>(f/k/a Mandalay Media, Inc.), a Delaware corporation, with its principal office located at 2121 Avenue of
the Stars, Suite 250, Los Angeles California (&ldquo;NeuMedia&rdquo;) and <B>VIVID ENTERTAINMENT, LLC, </B>a California<B> </B>limited
liability company, with its principal office located at 3599 Cahuenga Boulevard, 4<SUP>th</SUP> Floor, Los Angeles, California
(&ldquo;Vivid&rdquo;). Neumedia and Vivid may be collectively referred to herein as the &ldquo;Parties&rdquo; or individually
as a &ldquo;Party.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RECITALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt"><B>Whereas, </B>Vivid
and The WAAT Corp. are parties to that certain Addendum No. 1 to Exclusive License Agreement dated January 1, 2003, as amended
by two letters dated as of November 3, 2004 (collectively, the <B>&ldquo;2003 Agreement&rdquo;);</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt"><B>Whereas, </B>in
or about October 2006, The WAAT Corp. (d/b/a WAAT Media Corporation), a California corporation, merged into and became Twistbox
Entertainment, Inc., a Delaware corporation <B>(&ldquo;Twistbox&rdquo;) </B>and, contemporaneous therewith, Twistbox formed WAAT,
a wholly-owned subsidiary, to which all right, title and interest under the Prior Agreement was assigned or otherwise transferred;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"><B>Whereas, </B>on
July 1, 2009, WAAT, Twistbox, AMV Holding Limited (&ldquo;AMV&rdquo;) and Vivid entered into an Amended and restated Content License and
Output Agreement concerning the licensing and distribution of adult content accessible on the mobile web from a wireless device
(the <B>&ldquo;2009 Agreement&rdquo;); </B>and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"><B>Whereas, </B>WAAT,
Twistbox and AMV are indebted to Vivid under the 2009 Agreement (the &ldquo;Debt&rdquo;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.35pt; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.35pt; text-align: left; text-indent: 0in"><B>Whereas,
</B>Twistbox is a direct wholly owned subsidiary of NeuMedia; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Whereas, </B>Vivid
had agreed to forbear collection of certain claims under the 2003 Agreement in exchange for a warrant to acquire One Million Two
Hundred Thousand (1,200,000) shares of the common stock of NeuMedia at an exercise price of One Dollar Twenty-Five Cents ($1.25)
per share (the <B>&ldquo;2009 Warrant&rdquo;); </B>and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left; text-indent: 0in"><B>Whereas, </B>NeuMedia
issued the 2009 Warrant to Vivid; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt"><B>Whereas, </B>Vivid
has agreed to forbear collection of Five Hundred Fifty Thousand ($550,000) Dollars of the Debt provided NeuMedia amends the 2009
Warrant by granting Vivid the right to acquire One Million Five Hundred Thousand (1,500,000) shares of the common stock of NeuMedia
at an exercise price of Twenty-Five Cents ($0.25) per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,
</B>in consideration of the mutual promises made herein, and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Parties agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.2pt"><B>1.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Warrant.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
or before March 15, 2011, NeuMedia shall issue to Vivid (or its designees) an amended warrant (the <B>&ldquo;Amended Warrant&rdquo;</B>)
increasing the number of shares to 1,500,000 shares of Common Stock, par value $0.0001 per share, of NeuMedia and reducing the
purchase price per share to amount equal to $0.25 per share based on the terms and conditions set forth in the Amended Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.2pt"><B>2.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Counterparts.
</B>This Agreement and any amendment hereto or any other agreement (or document) delivered pursuant hereto may be executed in
one or more counterparts and by different parties in separate counterparts. All of such counterparts will constitute one and the
same agreement (or other document) and will become effective (unless otherwise provided therein) when one or more counterparts
have been signed by each party and delivered to the other party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.2pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 34.2pt"><B>3.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Governing
Law.</B> This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any action,
suit, or other legal proceeding that is commenced to resolve any matter arising under or relating to any provision of this Agreement
shall be commenced only in a court of the State of California (or, if appropriate, a federal court located within California,
and Vivid and NeuMedia each consents to the jurisdiction of such a court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.85pt"><B>IN WITNESS WHEREOF,
</B>each of the parties hereto has executed this Agreement or caused this Agreement to be executed by its duly authorized officers
as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none"><B>NEUMEDIA, INC.</B></TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: center"><B>&nbsp;</B></TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: left"><B>&nbsp;</B></TD>
    <TD STYLE="text-autospace: none; padding-left: 0"><B>VIVID ENTERTAINMENT, LLC</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 43%; text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 2%; padding-left: 0; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-left: 0; text-autospace: none; text-align: left">&nbsp;</TD>
    <TD STYLE="width: 43%; text-autospace: none; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; padding-left: 0">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">[ILLEGIBLE]</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: left">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">[ILLEGIBLE]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: left">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; padding-left: 0">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">[ILLEGIBLE]</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: left">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">[ILLEGIBLE]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-style: normal; padding-left: 0">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: left">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-style: normal; padding-left: 0">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">CFO</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-align: left">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">CEO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-4.13
<SEQUENCE>6
<FILENAME>v316695_ex4-13.htm
<DESCRIPTION>EXHIBIT 4.13
<TEXT>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>ALLONGE TO WARRANT TO PURCHASE 1,200,000
SHARES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Allonge (this
&ldquo;Allonge&rdquo;) to that certain warrant issued by Mandalay Media, Inc., now known as NeuMedia, Inc., (the &ldquo;Company&rdquo;)
to Vivid Entertainment, LLC (&ldquo;Holder&rdquo;) to purchase up to a total of 1,200,000 shares of common stock, $0.0001 par value
per share (&ldquo;Common Stock&rdquo;) of the Company, at an exercise price equal to $1.25 per share (the &ldquo;Warrant&rdquo;), is
made and entered into as of January 1, 2011, by and between the Company and the Holder, and is firmly affixed to and made a part
of the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.35pt">FOR GOOD AND VALUABLE
CONSIDERATION, the receipt and sufficiency of which are hereby acknowledged, the Company and Holder hereby agree that the Warrant
is hereby amended as set forth below. Capitalized terms used but not defined herein shall have the meaning set forth in the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All references
to &ldquo;1,200,000 shares of Common Stock&rdquo; are hereby deleted and &ldquo;1,500,000 shares of Common Stock&rdquo; is hereby substituted
in its place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Exercise
Price of &ldquo;$1.25 per share&rdquo; is hereby deleted and &ldquo;$0.25 per share&rdquo; is hereby substituted in its place.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All references
to the &ldquo;Warrant&rdquo; and any other instrument or document delivered in connection therewith shall be deemed to mean the Warrant
as amended by this Allonge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">4.&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As hereby amended, the Warrant
is hereby ratified and confirmed in all respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Remainder of page intentionally left
blank]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-weight: normal">IN WITNESS
WHEROF, THE EXECUTION hereof as an instrument under seal as of the date first set forth above and shall be governed by the laws
of the State of Delaware.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none"><B>NEUMEDIA, INC.</B></TD>
    <TD STYLE="padding-left: 58.7pt; text-autospace: none"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none; text-indent: 0"><B>VIVID ENTERTAINMENT, LLC</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 58.7pt; text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 58.7pt; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">By:</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid">[ILLEGIBLE]</TD>
    <TD STYLE="padding-left: 58.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-indent: 0">By:&nbsp;</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid">[ILLEGIBLE]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Name:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid">[ILLEGIBLE]</TD>
    <TD STYLE="padding-left: 58.7pt; text-autospace: none">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-indent: 0">Name:&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid">[ILLEGIBLE]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; width: 5%">Its:</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid; width: 40%">CFO</TD>
    <TD STYLE="padding-left: 59.05pt; text-autospace: none; width: 10%">&nbsp;</TD>
    <TD STYLE="padding-left: 0; text-autospace: none; text-indent: 0; width: 5%">Its:</TD>
    <TD STYLE="text-autospace: none; border-bottom: Black 1pt solid; width: 40%">CEO&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.93
<SEQUENCE>7
<FILENAME>v316695_ex10-93.htm
<DESCRIPTION>EXHIBIT 10.93
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RESTRICTED STOCK AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.65pt">This Restricted Stock Agreement (the &ldquo;<U>Agreement</U>&rdquo;)
is entered into by and between NeuMedia, Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and Vivid Entertainment,
LLC, a California limited liability company (&rdquo;<U>Vivid</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.3pt"><B>WHEREAS, </B>the
Company and Vivid have entered into that certain [Settlement Agreement] (the &ldquo;<U>Settlement Agreement</U>&rdquo;) as of the
date hereof pursuant to which the Company has agreed to issue Two Million Five Hundred Thousand (2,500,000) shares of Common Stock
(the &ldquo;<U>Shares</U>&rdquo;) of the Company to Vivid in connection with the terms of the Settlement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.3pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.3pt"><B>NOW, THEREFORE, </B>in consideration
of the mutual covenants and other agreements contained in this Agreement and the Settlement Agreement, the Company and Vivid hereby
agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.15pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 38.15pt; text-indent: 0in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Issue
of Common Stock</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to the terms and conditions of this Agreement and the Settlement Agreement, the Company hereby issues, and Vivid hereby accepts
as payment in full in accordance with the terms of the Settlement Agreement, the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors of the Company has authorized the issue of the Shares pursuant to the terms of the Settlement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.7pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.7pt; text-indent: 0in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the date hereof, the Company shall deliver or cause to be delivered the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 109.8pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 108.7pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
duly executed copy of the Settlement Agreement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 108.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 108.7pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Shares registered in the name of Vivid to a brokerage account designated in writing to the Company by Vivid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
the date hereof, Vivid shall deliver or cause to be delivered a duly executed copy of the Settlement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.35pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company
Representations and Warranties</U>. The Company hereby represents and warrants to Vivid that as of the date hereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization
and Business</U>. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State
of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and as proposed to be
conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction
in which its ownership or use of property or the nature of the business conducted by it makes such qualification necessary except
where the failure to be so qualified or in good standing would not have a Material Adverse Effect. As used in this Agreement, the
term &ldquo;Material Adverse Effect&rdquo; means any material adverse effect on the business, operations, assets (including intangible
assets), liabilities (actual or contingent), financial condition, or prospects of the Company and its subsidiaries, taken as a
whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 73.45pt">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 73.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 73.45pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Valid
Issuance</U>. When issued and delivered in accordance with the terms of this Agreement and the Settlement Agreement, the Shares
will be duly and validly issued, fully paid, and non-assessable, and will be free of Liens other than restrictions on transfer.
The Shares are not subject to preemptive rights or any other similar rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Enforceability</U>. All corporate action on the part of the Company and its officers necessary for the authorization, execution
and delivery of this Agreement and the authorization, issuance, sale and delivery of the Shares has been taken, and this Agreement
constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms,
except to the extent limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application
affecting enforcement of creditors&rsquo; rights and general principles of equity that restrict the availability of equitable or legal
remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Conflict</U>. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions
contemplated hereby and thereby will not: (i) conflict with or result in a violation of any provision of the charter or by-laws
of the Company or (ii) violate or conflict with, or result in a breach of any provision of, or constitute a default (or an event
which with notice or lapse of time or both could become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement or instrument to which the Company is a party, or (iii) result in a violation of
any law, rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and regulations
of any self-regulatory organizations to which the Company or its securities are subject) applicable to the Company or by which
any property or asset of the Company is bound or affected. Except for filings pursuant to Regulation D of the Securities Act,
and applicable state securities laws, which have been made or will be made by the Company in connection with the issuance of the
Shares, the Company is not required to obtain any consent, authorization or order of, or make any filing or registration with,
any court, governmental agency, regulatory agency, self regulatory organization or stock market or any third party in order for
it to execute, deliver or perform any of its obligations under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
General Solicitation</U>. Neither the Company nor any person participating on the Company&rsquo;s behalf in the transactions contemplated
hereby has conducted any &ldquo;general solicitation,&rdquo; as such term is defined in Regulation D promulgated under the Securities
Act, with respect to the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.45pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Offering</U>.
Subject to the accuracy of the representations and warranties of Vivid in <U>Section 4</U> of this Agreement, the issuance of the
Shares pursuant to this Agreement constitutes transactions exempt from the registration requirements of Section 5 of the Securities
Act and from the registration or qualification requirements of applicable state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Vivid
Representations and Warranties</U>. Vivid represents and warrants to the Company that as of the date hereof:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Enforcement</U>. This Agreement has been duly and validly authorized by Vivid, (ii) has been duly executed and delivered by Vivid,
and (iii) will constitute, upon execution and delivery by Vivid and the Company, the valid and binding agreements of Vivid enforceable
in accordance with their terms, except to the extent limited by applicable bankruptcy, insolvency, reorganization, moratorium or
other laws of general application affecting enforcement of creditors&rsquo; rights and general principles of equity that restrict the
availability of equitable or legal remedies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Purpose</U>. Vivid is acquiring the Shares for investment for its own account only and not with a view to, or for resale in connection
with, any &ldquo;distribution&rdquo; thereof within the meaning of the Securities Act. Vivid further represents that it does not
presently have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to
such person or to any third person, with respect to any of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Professional
Advice; Investment Experience</U>. Vivid has reviewed, or caused its representatives to review, the publicly available filings
made by the Company with the SEC, and Vivid has carefully considered such filings in connection with its entry into this Agreement.
Vivid has such knowledge, skill, and experience in technical, business, financial, and investment matters so that it is capable
of evaluating the merits and risks of an investment in the Shares. Vivid has retained, and relied upon, appropriate professional
advice regarding the technical, investment, tax, and legal merits and consequences of this Agreement and owning the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reliance
on Exemptions</U>. Vivid understands that the Shares are being issued to it in reliance upon specific exemptions from the registration
requirements of United States federal and state securities laws (the &ldquo;Securities Laws&rdquo;) and that the Company is relying
upon the truth and accuracy of, and Vivid&rsquo;s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of Vivid set forth herein in order to determine the availability of such exemptions. Vivid is an &ldquo;accredited investor&rdquo;
within the meaning of Regulation D under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Securities</U>. Vivid understands that the Shares are &ldquo;restricted securities&rdquo; under applicable Securities Laws and that,
pursuant to these laws, Vivid must hold the Shares indefinitely unless they are registered with the SEC and qualified by state
authorities, or an exemption from such registration and qualification requirements is available. Vivid acknowledges that the Company
has no obligation to register or qualify the Shares for resale, except as provided in this Agreement. Vivid further acknowledges
that if an exemption from registration or qualification is available, it may be conditioned on various requirements including,
but not limited to, the time and manner of sale, the holding period for the Shares, and requirements relating to the Company which
are outside of Vivid&rsquo;s control, and which the Company is under no obligation and may not be able to satisfy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Risk
of Loss</U>. The Purchaser is capable of sustaining a complete loss of the investment in the Shares, and Vivid has no need for
liquidity in the investment in the Shares. Vivid understands and acknowledges that an investment in the Shares is highly risky
and that it could suffer a complete loss of its investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Other Representations</U>. Other than the representations and warranties contained herein [or in the Settlement Agreement], Vivid
has not received and is not relying on any representation, warranties or assurances as to the Company, its business or its prospects
from the Company or any other person or entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.35pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36.35pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Market
Stand-Off</U>. Except as otherwise expressly provided in this Agreement, during the two (2) year period (the &ldquo;Restricted
Period&rdquo;) beginning on the date hereof, Vivid shall not, without the prior written consent of the Company (i) lend, offer,
pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Shares, or (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the
Shares, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of stock or such other
securities, in cash or otherwise. In the event of the declaration of a stock dividend, a spin-off, a stock split, a recapitalization
or a similar transaction affecting the Company&rsquo;s outstanding securities without receipt of consideration, any new, substituted
or additional securities that are by reason of such transaction distributed with respect to the Shares, any such new, substituted
or additional securities shall immediately be subject to the restrictions set forth in this <U>Section 5</U>. To enforce the restrictions
set forth in this <U>Section 5</U>, the Company may impose stop-transfer instructions with respect to the Shares until the end
of the Restricted Period. In the event that any holders of the Company&rsquo;s equity securities that are affiliated with any
of Trinad Capital, Coast Asset Management or Peter Guber (together, the &ldquo;Specified Stockholders&rdquo;) agree to subject
to any restrictions on transfer that extend beyond the end of the Restricted Period with respect to their respective equity securities
of the Company, Vivid agrees that the Restricted Period with respect to its Shares shall be extended for the same period of time
as is applicable to the shortest period applicable to any of the Specified Stockholders, provided, that, in no event shall the
Restricted Period applicable to the Shares be extended more than one (1) year after the end of the Restricted Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.7pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36.7pt; text-indent: 0in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restrictive
Legends and Stop-Transfer Orders</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legends</U>.
The certificate or certificates representing the Shares shall bear the following legends (as well as any legends required by applicable
state corporate law and the Securities Laws):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.35pt; text-indent: -35.3pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 109.05pt"></TD><TD STYLE="width: 35.3pt">(i)</TD><TD>THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND HAVE
BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION
MAY BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (OR OTHER EVIDENCE) IN A FORM
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.35pt; text-indent: -35.65pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 108.7pt"></TD><TD STYLE="width: 35.65pt">(ii)</TD><TD>THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF A RESTRICTED STOCK AGREEMENT
BETWEEN THE COMPANY AND THE SHAREHOLDER DATED JANUARY 1,2011, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 146.15pt; text-indent: -0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 146.15pt; text-indent: -0.5in">&nbsp;</P>

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<TD STYLE="width: 108.7pt"></TD><TD STYLE="width: 35.65pt">(iii)</TD><TD>Any legend required to be placed thereon by any appropriate securities commissioner.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.35pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stop-Transfer Notices</U>. Vivid
agrees that, to ensure compliance with the restrictions referred to herein, the Company may issue appropriate &ldquo;stop transfer&rdquo;
instructions to its transfer agent, if any, and that, if the Company transfers its own securities, it may make appropriate notations
to the same effect in its own records.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.8pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.8pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Piggyback Registration</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Piggyback
Registration Rights</U>. The Company agrees that if, after the date hereof, the Board shall authorize the filing of a registration
statement under the Securities Act (other than a registration statement on Form S-8, Form S-4 or any other form that does not
include substantially the same information as would be required in a form for the general registration of securities) in connection
with the proposed offer of shares of Common Stock of the Company, the Company shall: (A) promptly notify Vivid that such registration
statement will be filed and that the Shares issued pursuant to this Agreement and then held by Vivid (hereinafter the &ldquo;Registrable
Securities&rdquo;) may be included in such registration statement at the request of Vivid; (B) use its commercially reasonable
efforts to cause the registration of such Registrable Securities that Vivid requests to be registered; and (C) use its commercially
reasonable efforts to cause such registration statement to become effective as promptly as reasonably practicable. If Vivid desires
to include in such registration statement all or any part of the Registrable Securities held by /it, it shall, within ten (10)
days after the above-described notice from the Company, so notify the Company in writing. If Vivid decides not to include all
of its Registrable Securities in any registration statement thereafter filed by the Company, Vivid shall nevertheless continue
to have the right to include any Registrable Securities in any subsequent registration statement or registration statements as
may be filed by the Company with respect to offerings of its securities, all upon the terms and conditions set forth herein. Notwithstanding
the foregoing, if any of the Specified Stockholders at any time desire to register any shares of stock of the Company held by
them: (i) the Company shall, at Vivid&rsquo;s option, use its commercially reasonable efforts to cause registration of the Restricted
Stock, simultaneously with registration of the stock of the Specified Stockholders, to the extent necessary to permit their unrestricted
sale and (ii) the restrictions set forth in Section 5 shall immediately terminate should any Specified Stockholders sell stock
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Underwriting
Requirements</U>. In connection with any registration statement subject to <U>Section 7(a)</U> involving an underwritten offering
of shares of the Company&rsquo;s capital stock, the Company shall not be required to include any of the Registrable Securities in such
underwriting unless Vivid accepts the terms of the underwriting as agreed upon between the Company and its underwriters, and then
only in such quantity as such underwriter in its sole discretion determines will not jeopardize the success of the offering by
the Company. If the underwriter determines that less than all of the Registrable Securities that Vivid has requested to be registered
(the &ldquo;Requested Securities&rdquo;) can be included in such offering, then the securities to be registered and sold by any person
other than the Company shall be allocated among such persons in proportion (as nearly as practicable to) the number of shares of
Common Stock requested to be registered by each such person. Notwithstanding the foregoing, in no event shall the number of Requested
Securities included in the offering be reduced if any shares of Common Stock of the Company owned by any of the Specified Stockholders
are included in such offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Abandonment
or Delay of Registration</U>. Notwithstanding any other provision of this <U>Section 7</U>, the Company may at any time abandon
or delay any registration commenced by the Company. In the event of such abandonment by the Company, the Company shall not be required
to continue registration of the Registrable Securities requested by the Vivid for inclusion and the Purchaser shall retain the
right to request inclusion of the Registrable Securities as set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>.
Vivid shall be responsible for all underwriting discounts and selling commissions with respect to the Registrable Securities being
sold by Vivid to the extent paid, or to be paid, by all other holders of equity securities of the Company and all fees and expenses
of any counsel retained by Vivid. The Company will pay all other expenses incurred by the Company associated with each registration,
including, without limitation, all filing and printing fees, the Company&rsquo;s counsel and accounting fees and expenses, costs associated
with clearing the Vivid&rsquo;s Registrable Securities for sale under applicable Securities Laws, and listing fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 73.45pt; text-indent: 0in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effectiveness</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 109.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 109.1pt">(i)&#9;The Company may delay the disclosure
of material non-public information concerning the Company by suspending the use of any prospectus included in any registration
statement contemplated hereunder required to contain such information, the disclosure of which at the time is not, in the good
faith opinion of the Company, in the best interests of the Company (an &ldquo;<U>Allowed Delay</U>&rdquo;); provided, that the Company
shall promptly (a) notify Vivid of the existence of an Allowed Delay, (b) advise Vivid in writing to cease all sales under the
registration statement until the end of the Allowed Delay and (c) use commercially reasonable efforts to terminate an Allowed Delay
as promptly as practicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Registration Rights Agreements</U>. Nothing in this Agreement shall limit the Company&rsquo;s right to grant registration rights to other
persons. In the event of any change or changes in the Company&rsquo;s outstanding Common Stock by reason of any stock dividend, recapitalization,
reorganization, merger, consolidation, split-up, combination or any similar transaction, the Company shall adjust the number of
shares of the Company&rsquo;s Common Stock granted to Vivid to prevent substantial dilution of the rights granted to Vivid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.1pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Agreement and all acts and transactions pursuant hereto and the rights and obligations of the parties hereto shall
be governed, construed and interpreted in accordance with the laws of the State of California, without giving effect to principles
of conflicts of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement; Enforcement of Rights</U>. This Agreement sets forth the entire agreement and understanding of the parties relating
to the subject matter herein and merges all prior discussions between them. No modification of or amendment to this Agreement,
nor any waiver of any rights under this Agreement, shall be effective unless in writing signed by the parties to this Agreement.
The failure by either party to enforce any rights under this Agreement shall not be construed as a waiver of any rights of such
party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate
such provision in good faith. If the parties cannot reach a mutually agreeable and enforceable replacement for such provision,
then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such
provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Construction</U>.
This Agreement is the result of negotiations between and has been reviewed by each of the parties hereto and their respective counsel,
if any; accordingly, this Agreement shall be deemed to be the product of all of the parties hereto, and no ambiguity shall be construed
in favor of or against any one of the parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
Any notice required or permitted by this Agreement shall be in writing and shall be deemed sufficient when delivered personally
or sent by fax or 48 hours after being deposited in the U.S. mail, as certified or registered mail, with postage prepaid, and addressed
to the party to be notified at such party&rsquo;s address or fax number as set forth below or as subsequently modified by written notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns</U>. The rights and benefits of this Agreement shall inure to the benefit of, and be enforceable by the Company&rsquo;s successors
and assigns. The rights and obligations of Vivid under this Agreement may only be assigned with the prior written consent of the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third
Party Beneficiary</U>. This Agreement is intended for the benefit of the undersigned parties and their respective permitted successors
and assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 72.7pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances</U>. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 73.1pt">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>. Each party shall pay
all costs and expenses that it incurs with respect to the negotiation, execution, delivery and performance of the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Remainder of Page Intentionally Left
Blank]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-weight: normal">IN WITNESS
WHEREOF, the Company and Vivid have executed this Agreement effective as of January 1, 2011.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none"><B>VIVID ENTERTAINMENT, LLC:</B></TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none"><B>NEUMEDIA, INC.:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; text-autospace: none; font-weight: normal">By:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-autospace: none">[ILLEGIBLE]</TD>
    <TD STYLE="width: 4%; text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: none; font-weight: normal">By:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-autospace: none">[ILLEGIBLE]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: normal">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none">[ILLEGIBLE]</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none">[ILLEGIBLE]</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; font-weight: normal">Its:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; font-weight: normal">CEO</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; font-weight: normal">Its:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; font-weight: normal">CFO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.97
<SEQUENCE>8
<FILENAME>v316695_ex10-97.htm
<DESCRIPTION>EXHIBIT 10.97
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Convertible Note Financing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Binding Term Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 1, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.65pt">This binding term
sheet (this &ldquo;<U>Term Sheet</U>&rdquo;), dated as of the date first written above, is made with respect to the transactions
contemplated by that binding term sheet, dated as of December 29, 2011 (the &ldquo;<U>Original Term Sheet</U>&rdquo;) between
Mandalay Digital Group, Inc. (formerly known as NeuMedia, Inc.), a Delaware corporation (&ldquo;<U>Issuer</U>&rdquo;), and TAJA,
LLC (&rdquo;<U>Investor</U>&rdquo;). Capitalized terms used and not defined in this Term Sheet have the meanings ascribed to such
terms in the Original Term Sheet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: justify; text-autospace: none"><B><U>Existing Note Warrant</U>:</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 75%; text-align: justify; text-autospace: none">The warrants described under the heading &ldquo;Existing Note Warrant&rdquo; in the Original Term Sheet shall vest and be exercisable one (1) year from the date of this Term Sheet.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Existing Note Prepayment</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">All outstanding principal and accrued and unpaid interest under the
    Existing Note shall become accelerated and immediately due and payable by Issuer upon the consummation by Issuer of one or
    more equity sales from and after the date of this Term Sheet resulting in aggregate net proceeds to Issuer of at least
    $10,000,000.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Conversion of Principal</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">On the Conversion Date (as defined below), a portion of the principal
    amount of the New Note shall be converted into shares of common stock, par value $0.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;),
    of Issuer at a conversion price of $0.70 per share (as adjusted for customary dilution and anti-dilution events, the &ldquo;<U>Conversion
    Price</U>&rdquo;), such that Investor&rsquo;s ownership of the issued and outstanding shares of Common Stock (including all
    shares of Common Stock held by Investor) shall be as nearly as possible, without exceeding, 4.9%.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Term</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">The section of the Original Term Sheet entitled &ldquo;Term&rdquo; is
    hereby amended and restated in its entirety as follows: The earlier of (x) the date on which all outstanding principal and
    accrued and unpaid interest under the New Note shall have converted or is then convertible into shares of Common Stock pursuant
    to the provisions of this Term Sheet and (y) the date that is two (2) years following the date of this Term Sheet (the &ldquo;<U>Maturity
    Date</U>&rdquo;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Convertibility</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">The section of the Original Term Sheet entitled &ldquo;Convertibility&rdquo;
    is hereby amended and restated in its entirety as follows: On the last business day of each calendar month, the Convertible
    Portion of the Note (as defined below) shall automatically convert into shares of Common Stock at the Conversion Price. &ldquo;<U>Convertible
    Portion of the Note</U>&rdquo; means an amount of outstanding principal and accrued and unpaid interest such that, giving
    effect to such conversion, and the simultaneous conversion of any other convertible debt of the Company subject to ownership
    limitations, the total number of shares of Common Stock then beneficially owned by Investor and any other persons whose beneficial
    ownership of Common Stock would be aggregated with Investor&rsquo;s shares of Common Stock for purposes of Section 13(d) of
    the Securities Exchange Act of 1934, as amended, would not exceed 4.9% of the total number of issued and outstanding shares
    of Common Stock, including the shares of Common Stock issuable on such conversion. If, on the date specified in clause (y)
    of the definition of Maturity Date, there remains any outstanding principal or accrued and unpaid interest under the New Note,
    all of such outstanding principal and accrued and unpaid interest shall automatically convert into shares of Common Stock
    at the conversion price specified above, notwithstanding the ownership limitations set forth above.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: justify; text-autospace: none"><B><U>Warrant Coverage</U>:</B></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 75%; text-align: justify; text-autospace: none">The following sentence is hereby added to the end of the section of the Original Term Sheet entitled &ldquo;Warrant Coverage&rdquo;: The Warrant may be exercised only following the first anniversary of the Conversion Date.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Limits on Exercise</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">Notwithstanding anything to the contrary contained herein, the number of warrant shares that may be acquired by Investor upon any exercise of the Warrant (or otherwise in respect thereof) shall be limited to the extent necessary to insure that, following such exercise (or other issuance), the total number of shares of Common Stock then beneficially owned by Investor and its affiliates and any other persons whose beneficial ownership of Common Stock would be aggregated with Investor&rsquo;s for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, does not exceed 4.9% of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). This provision shall not restrict the number of shares of Common Stock which Investor may receive or beneficially own in order to determine the amount of securities or other consideration that Investor may receive in the event of customary fundamental transactions.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Registration Rights</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; text-autospace: none">This section of the Original Term Sheet is hereby deleted.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Rights of Participation</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">Subject to standard carveouts, Investor shall have a right of participation for future financings undertaken by Issuer for a period of two (2) years following the Maturity Date on a pro rata basis in accordance with Investor&rsquo;s ownership interests in Issuer, on a fully diluted basis assuming exercise of the Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Voting Agreement</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">For a period beginning on the date hereof and ending on the first
    anniversary of the Conversion Date, notwithstanding any consent rights Investor may have under the Existing Note, Investor
    hereby irrevocably agrees to vote all shares of voting stock (including Common Stock) held by Investor in favor of any
    amendment to Issuer&rsquo;s Certificate of Incorporation providing for one or more of the following: (x) up to a 10-for-l
    reverse stock split affecting all shares of Common Stock, and/or (y) an increase in the number of authorized shares of any
    class or series of capital stock of Issuer.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Conversion Date</U>:</B></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">The term &ldquo;<U>Conversion Date</U>&rdquo; means the earlier to occur
    of (x) the date that the long-form documents are executed and delivered by all parties hereto with respect to the transactions
    contemplated by this Term Sheet, and (y) March 19, 2012.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.7pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 144.7pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Term Sheet shall be binding on the
parties hereto and their respective successors and assigns. Although the parties anticipate entering into long-form documents with
respect to the terms of this Term Sheet and containing such other provisions as are customary for transactions of the type contemplated,
until they are able to do so, and in any case in the event they are unable to do so, the terms of this Term Sheet shall be binding
and shall govern the parties&rsquo; respective rights and obligations. This Term Sheet will be governed by and construed in accordance
with the laws of the State of California. Any disputes arising out of or relating to this Term Sheet shall be heard exclusively
in state or federal courts located in California, each party waiving any and all objections to such venue. This Term Sheet, together
with the provisions of the Original Term Sheet not amended or superseded hereby, sets forth the entire understanding of the parties
with respect to the subject matter hereof. This Term Sheet shall not be amended, or any provision hereof waived, except in a writing
signed by each party hereto. This Term Sheet may be executed in any number of original, facsimile or other electronic counterparts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of Page Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 35.3pt">IN WITNESS WHEREOF,
the parties hereto have executed this Term Sheet as of the date first <FONT STYLE="font-size: 10pt">above written.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">Issuer:</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Investor:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">MANDALAY DIGITAL GROUP, INC.</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">TAJA, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 42%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 1%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 9%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 42%; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none">/s/ David Mandell</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Signature:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none">/s/ Gina Robins</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="text-autospace: none">David Mandell</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="text-autospace: none">Gina Robins</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="text-autospace: none">Corporate Secretary</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none">[ILLEGIBLE]</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>Binding Term Sheet</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>Convertible Note
Financing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.98
<SEQUENCE>9
<FILENAME>v316695_ex10-98.htm
<DESCRIPTION>EXHIBIT 10.98
<TEXT>
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     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Convertible Note Financing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Binding Term Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 1, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.1pt">This binding term
sheet (this &ldquo;<U>Term Sheet</U>&rdquo;), dated as of the date first written above, is made with respect to the transactions
contemplated by the (i) Subordinated Convertible Promissory Note (the &ldquo;<U>Note</U>&rdquo;) in the original principal amount
of $7,000,000, issued by Mandalay Digital Group, Inc. (formerly known as NeuMedia, Inc.), a Delaware corporation (&ldquo;<U>Issuer</U>&rdquo;),
to Adage Capital Partners, L.P. (&ldquo;<U>Investor</U>&rdquo;) on December 29, 2011, (ii) the Warrant, dated December 29, 2011
(the &ldquo;<U>Warrant</U>&rdquo;), issued by Issuer to Investor, and (iii) the side letter, dated December 29, 2011 (the &ldquo;<U>Side
Letter</U>&rdquo;), between Issuer and Investor. The parties hereby agree that the Note, the Warrant and the Side Letter are hereby
amended, and otherwise agree, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: justify; text-autospace: none; font-weight: bold"><B><U>Conversion of Principal</U>:</B></TD>
    <TD STYLE="width: 77%; text-align: justify; text-autospace: none">On the date hereof, the entire outstanding principal amount
    of the Note, and all accrued and unpaid interest thereon, shall be converted into shares of common stock, par value $0.0001
    per share (&ldquo;<U>Common Stock</U>&rdquo;), of Issuer at a conversion price of $0.70 per share (as adjusted for customary
    dilution and anti-dilution events, the &ldquo;<U>Conversion Price</U>&rdquo;), whereupon the Note shall terminate.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none; font-weight: bold"><B><U>Warrant Amendments</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Notwithstanding anything contained in the Warrant to the contrary, the Warrant is hereby amended to include or modify, as applicable, the following provisions: The Warrant shall become effective as of the date of this Term Sheet. All references to the &ldquo;Conversion Price&rdquo; of the Warrant are hereby amended to refer to the Conversion Price, as defined in this Term Sheet. All references to the &ldquo;Note&rdquo; in the Warrant are hereby amended to refer to the Note as converted hereby. The definition of &ldquo;Qualified Equity Financing&rdquo; and all references to such term are hereby deleted. Section 4 of the Warrant is hereby deleted in its entirety.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none; font-weight: bold"><B><U>Registration Rights</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Issuer shall be required to file a registration statement on the terms specified in the Side Letter within one hundred twenty (120) calendar days after the date of this Term Sheet.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none; font-weight: bold"><B><U>Rights of Participation</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Subject to the carveouts set forth in the Side Letter, Investor shall have a right of participation for future financings undertaken by Issuer for a period of two (2) years following the date hereof on a pro rata basis in accordance with Investor&rsquo;s ownership interests in Issuer, on a fully diluted basis assuming exercise of the Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none; font-weight: bold"><B><U>Voting Agreement</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">For a period beginning on the date hereof and ending on the first anniversary of the date hereof, Investor hereby irrevocably agrees to vote all shares of voting stock (including Common Stock) held by Investor in favor of any amendment to Issuer&rsquo;s Certificate of Incorporation providing for one or more of the following: (x) up to a 10-for-l reverse stock split affecting all shares of Common Stock, and/or (y) an increase in the number of authorized shares of any class or series of capital stock of Issuer.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Except as amended hereby, the terms of
the Warrant and the Side Letter remain in full force and effect. This Term Sheet shall be binding on the parties hereto and their
respective successors and assigns. Although the parties anticipate entering into long-form
documents with respect to the terms of this Term Sheet and containing such other provisions as are customary for transactions of
the type contemplated, until they are able to do so, and in any case in the event they are unable to do so, the terms of this Term
Sheet shall be binding and shall govern the parties&rsquo; respective rights and obligations. This Term Sheet will be governed by and
construed in accordance with the laws of the State of California. Any disputes arising out of or relating to this Term Sheet shall
be heard exclusively in state or federal courts located in California, each party waiving any and all objections to such venue.
This Term Sheet, together with the provisions of the Warrant and Side Letter not amended or superseded hereby, sets forth the entire
understanding of the parties with respect to the subject matter hereof. This Term Sheet shall not be amended, or any provision
hereof waived, except in a writing signed by each party hereto. This Term Sheet may be executed in any number of original, facsimile
or other electronic counterparts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of Page Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 32.65pt">IN WITNESS WHEREOF,
the parties hereto have executed this Term Sheet as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">Issuer:</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Investor:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">MANDALAY DIGITAL GROUP, INC.</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">ADAGE CAPITAL PARTNERS, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 43%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 2%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 6%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 43%; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none">/s/ David Mandell</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Signature:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none"><FONT STYLE="text-transform: uppercase">[Illegible]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="text-autospace: none">David Mandell</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none"><FONT STYLE="text-transform: uppercase">[Illegible]&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="text-autospace: none">Corporate Secretary</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none"><FONT STYLE="text-transform: uppercase">[Illegible]&nbsp;</FONT>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>Binding Term Sheet</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>Convertible Note
Financing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.99
<SEQUENCE>10
<FILENAME>v316695_ex10-99.htm
<DESCRIPTION>EXHIBIT 10.99
<TEXT>
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</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Equity Financing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Binding Term Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>March 1, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 32.75pt">This binding term
sheet (this &ldquo;<U>Term Sheet</U>&rdquo;), dated as of the date first written above, is between Mandalay Digital Group, Inc.,
a Delaware corporation (&ldquo;&rsquo;<U>Issuer</U>&rdquo;), and&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(&ldquo;<U>Investor</U>&rdquo;). The parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: left; text-autospace: none"><B><U>Security</U>:</B></TD>
    <TD STYLE="width: 77%; text-align: left; text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock, par value $0.0001 per share (&ldquo;<U>Common Stock</U>&rdquo;), of Issuer (the &ldquo;<U>Shares</U>&rdquo;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Purchase Price</U>:</B></TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ($0.70 per share).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Warrant Coverage</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Investor shall receive 25% warrant coverage (i.e., a warrant exercisable
    for &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of Common Stock) (the &ldquo;<U>Warrant</U>&rdquo;). The Warrant shall be at the option of Investor
    cash or cashless, have a five (5) year term from the date of issuance and an exercise price equal to $0.70 per share (which
    shall be adjusted from time to time for customary dilution and anti-dilution events). The Warrant may be exercised only following
    the first anniversary of the date of issuance.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Closing</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">As soon as possible after the date of this Term Sheet but in no event later than March 19, 2012; provided that the transactions contemplated herein have been duly authorized by Issuer and Issuer has received all requisite third party consents with respect to the issuance of the Shares.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none; font-weight: bold"><B><U>Reg</U>i<U>stration Rights</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Issuer shall use best efforts to file a Registration Statement on Form S-3 or, if Issuer is not eligible for Form S-3, on Form S-l (the &ldquo;<U>Registration Statement&rdquo;</U>) covering the Shares and the shares of Common Stock underlying the Warrant within one hundred twenty (120) calendar days after the date of this Term Sheet and shall use its best efforts to cause the Registration Statement to become effective as soon as possible thereafter.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Rights of Participation</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Subject to standard carveouts, Investor shall have a right of participation for future financings undertaken by Issuer for a period of two (2) years following the date of issuance of the Shares on a pro rata basis in accordance with Investor&rsquo;s ownership interests in Issuer, on a fully diluted basis assuming exercise of the Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Voting Agreement</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">For a period beginning on the date hereof and ending on the first anniversary of the date of issuance of the Shares, Investor hereby irrevocably agrees to vote all shares of voting stock (including the Shares and the shares issued to Investor upon exercise of the Warrant, if any) held by Investor in favor of any amendment to Issuer&rsquo;s Certificate of Incorporation providing for one or more of the following: (x) up to a 10-for-1 reverse stock split affecting all shares of Common Stock, and/or (y) an increase in the number of authorized shares of any class or series of capital stock of Issuer.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: justify; text-autospace: none; font-weight: bold"><B><U>Transferability</U>:</B></TD>
    <TD STYLE="width: 77%; text-align: justify; text-autospace: none">Until the Shares and the shares issuable to Investor upon exercise of the Warrant have been registered pursuant to the Registration Statement, Investor may assign its right and interests to the Shares and shares issued to Investor upon exercise of the Warrant, if any, subject to the consent of Issuer, which consent shall not be unreasonably withheld.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Term Sheet shall be binding on the
parties hereto and their respective successors and assigns. Although the parties anticipate entering into long-form documents with
respect to the terms of this Term Sheet and containing such other provisions as are customary for transactions of the type contemplated,
until they are able to do so, and in any case in the event they arc unable to do so, the terms of this Term Sheet shall be binding
and shall govern the parties&rsquo; respective rights and obligations. This Term Sheet will be governed by and construed in accordance
with the laws of the State of California, Any disputes arising out of or relating to this Term Sheet shall be heard exclusively
in state or federal courts located in California, each parry waiving any and all objections to such venue. This Term Sheet sets
forth the entire understanding of the parties with respect to the subject matter hereof. This Term Sheet shall not be amended,
or any provision hereof waived, except in a writing signed by each party hereto. This Term Sheet may be executed in any number
of original, facsimile or other electronic counterparts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of Page Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 32.75pt">IN WITNESS WHEREOF, the parties hereto
have executed this Term Sheet as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">Issuer:</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">Investor:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">MANDALAY DIGITAL GROUP, INC.</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%; text-autospace: none">By:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-autospace: none"></TD>
    <TD STYLE="width: 2%; text-autospace: none">&nbsp;</TD>
    <TD STYLE="width: 6%; text-autospace: none">Signature:</TD>
    <TD STYLE="width: 43%; border-bottom: windowtext 1pt solid; text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="text-autospace: none">David Mandell</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Name:</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="text-autospace: none">Corporate Secretary</TD>
    <TD STYLE="text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none">Title:</TD>
    <TD STYLE="text-autospace: none">&nbsp;&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Binding Terms Sheet</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>Equity Financing</I></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.100
<SEQUENCE>11
<FILENAME>v316695_ex10-100.htm
<DESCRIPTION>EXHIBIT 10.100
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Equity Financing<BR>
Binding Term Sheet<BR>
March
5, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36.25pt">This binding term
sheet (this &quot;<U>Term Sheet</U>&quot;), dated as of the date first written above, is between Mandalay Digital Group, Inc.,
a Delaware corporation (&quot;<U>Issuer</U>&quot;), and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&quot;<U>Investor</U>&quot;). The parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: justify; text-autospace: none"><B><U>Security</U>:</B></TD>
    <TD STYLE="text-align: left; text-autospace: none; text-indent: 0.5in; width: 77%"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock, par value $0.0001 per share (&quot;<U>Common Stock</U>&quot;), of Issuer (the &quot;<U>Shares</U>&quot;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Purchase Price</U>:</B></TD>
    <TD STYLE="text-align: left; text-autospace: none; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp; ($0.70 per share).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Warrant Coverage</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none; text-indent: 0.5in">Investor shall receive 25% warrant coverage (i.e., a warrant exercisable for &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of Common Stock) (the &quot;<U>Warrant</U>&quot;). The Warrant shall be at the option of Investor cash or cashless, have a five (5) year term from the date of issuance and an exercise price equal to $0.70 per share (which shall be adjusted from time to time for customary dilution and anti-dilution events). The Warrant may be exercised only following the first anniversary of the date of issuance.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Closing</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none; text-indent: 1in">As soon as possible after the date of this Term Sheet but in no event later than March 19, 2012; provided that the transactions contemplated herein have been duly authorized by Issuer and Issuer has received all requisite third party consents with respect to the issuance of the Shares.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Registration Rights</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none; text-indent: 0.5in">Issuer shall use best efforts to file a Registration Statement on Form S-3 or, if Issuer is not eligible for Form S-3, on Form S-1 (the &quot;<U>Registration Statement</U>&quot;) covering the Shares and the shares of Common Stock underlying the Warrant within one hundred twenty (120) calendar days after the date of this Term Sheet and shall use its best efforts to cause the Registration Statement to become effective as soon as possible thereafter.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Rights of Participation</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Subject to standard carveouts, Investor shall have a right of participation for future financings undertaken by Issuer for a period of two (2) years following the date of issuance of the Shares on a pro rata basis in accordance with Investor's ownership interests in Issuer, on a fully diluted basis assuming exercise of the Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Voting Agreement</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none; text-indent: 0.5in">For a period beginning on the date hereof and ending on the first anniversary of the date of issuance of the Shares, Investor hereby irrevocably agrees to vote all shares of voting stock (including the Shares and the shares issued to Investor upon exercise of the Warrant, if any) held by Investor in favor of any amendment to Issuer's Certificate of Incorporation providing for one or more of the following: (x) up to a 10-for-1 reverse stock split affecting all shares of Common Stock, and/or (y) an increase in the number of authorized shares of any class or series of capital stock of Issuer.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; text-align: justify; text-autospace: none"><B><U>Transferability</U>:</B></TD>
    <TD STYLE="width: 77%; text-align: justify; text-autospace: none; text-indent: 0.5in">Until the Shares and the shares issuable to Investor upon exercise of the Warrant have been registered pursuant to the Registration Statement, Investor may assign its right and interests to the Shares and shares issued to Investor upon exercise of the Warrant, if any, subject to the consent of Issuer, which consent shall not be unreasonably withheld.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Term Sheet shall be binding on the
parties hereto and their respective successors and assigns. Although the parties anticipate entering into long-form documents with
respect to the terms of this Term Sheet and containing such other provisions as are customary for transactions of the type contemplated,
until they are able to do so, and in any case in the event they are unable to do so, the terms of this Term Sheet shall be binding
and shall govern the parties' respective rights and obligations. This Term Sheet will be governed by and construed in accordance
with the laws of the State of California. Any disputes arising out of or relating to this Term Sheet shall be heard exclusively
in state or federal courts located in California, each party waiving any and all objections to such venue. This Term Sheet sets
forth the entire understanding of the parties with respect to the subject matter hereof. This Term Sheet shall not be amended,
or any provision hereof waived, except in a writing signed by each party hereto. This Term Sheet may be executed in any number
of original, facsimile or other electronic counterparts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of Page Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 34.8pt">IN WITNESS WHEREOF, the parties hereto
have executed this Term Sheet as of the date first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none; padding-left: 0">Issuer:</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; padding-left: 0">Investor:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none; padding-left: 0">MANDALAY DIGITAL GROUP, INC.</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-autospace: none; padding-left: 0">&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 5%; text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 8%; text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="width: 40%; text-autospace: none; padding-left: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; padding-left: 0">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">/s/ Peter Adderton&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">Signature:&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; padding-left: 0">&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; padding-left: 0">Name:</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">Peter Adderton</TD>
    <TD STYLE="padding-left: 0; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">Name:</TD>
    <TD STYLE="padding-left: 0; text-autospace: none">&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-autospace: none; padding-left: 0">Title:</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">CEO</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD>
    <TD STYLE="text-autospace: none; padding-left: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>Binding Terms
Sheet</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><I>Equity Financing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-10.111
<SEQUENCE>12
<FILENAME>v316695_ex10-111.htm
<DESCRIPTION>EXHIBIT 10.111
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Equity Financing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Binding Term
Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>June </B>7, <B>2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.3pt">This binding term
sheet (this &ldquo;<U>Term Sheet</U>&rdquo;), dated as of the date first written above, is between Mandalay Digital Group, Inc.,
a Delaware corporation (&ldquo;<U>Issuer</U>&rdquo;), and &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (&ldquo;<U>Investor</U>&rdquo;). The parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; text-align: justify; text-autospace: none"><B><U>Security</U>:</B></TD>
    <TD STYLE="width: 75%; text-align: justify; text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;shares of common stock, par value $0.0001 per
    share (&ldquo;<U>Common Stock</U>&rdquo;), of Issuer (the &ldquo;<U>Shares</U>&rdquo;).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none"><B><U>Purchase Price</U>:</B></TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;($0.70 per share).</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: left; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Warrant Coverage</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Investor shall receive 25% warrant coverage (i.e., a warrant exercisable for &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; shares of Common Stock) (the &ldquo;<U>Warrant</U>&rdquo;). The Warrant shall be at the option of Investor cash or cashless, have a five (5) year term from the date of issuance and an exercise price equal to $0.70 per share (which shall be adjusted from time to time for customary dilution and anti-dilution events). The Warrant may be exercised only following the first anniversary of the date of issuance.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Closing</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">As soon as possible after the date of this Term Sheet but in no event later than June 23, 2012; provided that the transactions contemplated herein have been duly authorized by Issuer and Issuer has received all requisite third party consents with respect to the issuance of the Shares.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Registration Rights</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Issuer shall use best efforts to file a Registration Statement on Form S-3 or, if Issuer is not eligible for Form S-3, on Form S-l (the &ldquo;<U>Registration Statement</U>&rdquo;) covering the Shares and the shares of Common Stock underlying the Warrant within one hundred twenty (120) calendar days after the date of this Term Sheet and shall use its best efforts to cause the Registration Statement to become effective as soon as possible thereafter.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Rights of Participation</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Subject to standard carveouts, Investor shall have a right of participation for future financings undertaken by Issuer for a period of two (2) years following the date of issuance of the Shares on a pro rata basis in accordance with Investor&rsquo;s ownership interests in Issuer, on a fully diluted basis assuming exercise of the Warrant.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Voting Agreement</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">For a period beginning on the date hereof and ending on the first anniversary of the date of issuance of the Shares, Investor hereby irrevocably agrees to vote all shares of voting stock (including the Shares and the shares issued to Investor upon exercise of the Warrant, if any) held by Investor in favor of any amendment to Issuer&rsquo;s Certificate of Incorporation providing for one or more of the following: (x) up to a 10-for-l reverse stock split affecting all shares of Common Stock, and/or (y) an increase in the number of authorized shares of any class or series of capital stock of Issuer.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; text-autospace: none"><B><U>Transferability</U>:</B></TD>
    <TD STYLE="text-align: justify; text-autospace: none">Until the Shares and the shares issuable to Investor upon exercise of the Warrant have been registered pursuant to the Registration Statement, Investor may assign its right and interests to the Shares and shares issued to Investor upon exercise of the Warrant, if any, subject to the consent of Issuer, which consent shall not be unreasonably withheld.</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 133.8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 133.8pt; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 133.8pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Term Sheet shall be binding on the
parties hereto and their respective successors and assigns. Although the parties anticipate entering into long-form documents with
respect to the terms of this Term Sheet and containing such other provisions as are customary for transactions of the type contemplated,
until they are able to do so, and in any case in the event they are unable to do so, the terms of this Term Sheet shall be binding
and shall govern the parties&rsquo; respective rights and obligations. This Term Sheet will be governed by and construed in accordance
with the laws of the State of California. Any disputes arising out of or relating to this Term Sheet shall be heard exclusively
in state or federal courts located in California, each party waiving any and all objections to such venue. This Term Sheet sets
forth the entire understanding of the parties with respect to the subject matter hereof. This Term Sheet shall not be amended,
or any provision hereof waived, except in a writing signed by each party hereto. This Term Sheet may be executed in any number
of original, facsimile or other electronic counterparts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of Page Intentionally Blank]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: normal 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 33.6pt; text-align: justify"><FONT STYLE="font-weight: normal; font-style: normal">IN
WITNESS WHEREOF, the parties hereto have executed this Term Sheet as of the date first above&nbsp;written.&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">Issuer:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none">Investor:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none"><B>MANDALAY DIGITAL GROUP, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; text-autospace: none; width: 5%">By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-autospace: none; width: 40%">[ILLEGIBLE]</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0; text-autospace: none; width: 5%">Signature:&nbsp;&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-left: 0; text-autospace: none; width: 40%">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">Name:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none">Name: &nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-autospace: none">Title:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-left: 0; text-autospace: none">Title:&nbsp; Trustees</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font-style: italic"><I>Binding Term Sheet</I></P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0; font-style: italic"><I>Equity Financing</I></P>

<P STYLE="margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>13
<FILENAME>v316695_ex21.htm
<DESCRIPTION>EXHIBIT 21
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 21&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 22%; font-weight: bold; border-bottom: Black 1pt solid">Entity</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 28%; font-weight: bold; padding-bottom: 0; border-bottom: Black 1pt solid">Chief&nbsp;Executive&nbsp;Offices&nbsp;or<BR> Principal&nbsp;Place&nbsp;of&nbsp;Business</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 16%; font-weight: bold; border-bottom: Black 1pt solid">Jurisdiction&nbsp;of<BR> Organization</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 11%; font-weight: bold; border-bottom: Black 1pt solid">FEIN</TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 19%; font-weight: bold; border-bottom: Black 1pt solid">Company<BR> Organizational<BR> Numbers</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Twistbox Entertainment, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14242 Ventura Blvd., 3<SUP>rd</SUP> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sherman Oaks, CA&nbsp;&nbsp;91423</P></TD>
    <TD>&nbsp;</TD>
    <TD>Delaware</TD>
    <TD>&nbsp;</TD>
    <TD>80-0058995</TD>
    <TD>&nbsp;</TD>
    <TD>4207607</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>WAAT Media Corp.</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">14242 Ventura Blvd., 3<SUP>rd</SUP> Floor</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sherman Oaks, CA&nbsp;&nbsp;91423</P></TD>
    <TD>&nbsp;</TD>
    <TD>Delaware</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>4253647</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Twistbox Entertainment Ltd. (Russia)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Smolensky Passage, 3</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Smolenskaya sq. 7<SUP>th</SUP> floor,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Moscow 121099, Russia</P></TD>
    <TD>&nbsp;</TD>
    <TD>Russian Federation</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>43909</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Twistbox Entertainment Limited (UK)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Central Court</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 Southhampton</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Buildings Chancery Lane</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">London WC2A 1AL-UK</P></TD>
    <TD>&nbsp;</TD>
    <TD>United Kingdom</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>5418091</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Twistbox Entertainment LTDA (Brazil)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rua Frei Duarte Jorge de</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mendonca, 100, 12 andar,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sao Paulo, SP 05725-060, Brazil</P></TD>
    <TD>&nbsp;</TD>
    <TD>Brazil</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP>09.091.052/00001-95</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WAAT Media Chile SA</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Moneda<B>&nbsp;</B>N&ordm; 970, Piso 8,</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Santiago de Chile</P></TD>
    <TD>&nbsp;</TD>
    <TD>Chile</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>76-615-370-4</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Twistbox Games Ltd. &amp; Co KG (DE)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lohbachstr. 12</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">58239 Schwerte Germany</P></TD>
    <TD>&nbsp;</TD>
    <TD>Germany</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>DE814164894</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Twistbox Games Ltd (UK)</TD>
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Central Court</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">25 Southhampton Buildings</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chancery Lane London</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WC2A 1AL-UK</P></TD>
    <TD>&nbsp;</TD>
    <TD>United Kingdom</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>05145811</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>



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<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>14
<FILENAME>v316695_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL EXECUTIVE
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Peter Adderton, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. I have reviewed this Annual Report on Form 10-K of Mandalay
Digital Group, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Based on my knowledge, this annual report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. The registrant&rsquo;s other certifying officers and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(c) Evaluated the effectiveness of the registrant&rsquo;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(d) Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect,
the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. The registrant&rsquo;s other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors
and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Date: June 29, 2012</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 48%; border-bottom: Black 1pt solid">/s/ Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>15
<FILENAME>v316695_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL FINANCIAL
OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I, Lisa Higgins-Lucero, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. I have reviewed this Annual Report on Form 10-K of Mandalay
Digital Group, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. Based on my knowledge, this annual report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. The registrant&rsquo;s other certifying officer and I are
responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and
15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) Designed such disclosure controls and procedures,
or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating
to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during
the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(c) Evaluated the effectiveness of the registrant&rsquo;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of the end of the period covered by this report based on such evaluation; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(d) Disclosed in this report any change in the registrant&rsquo;s
internal control over financial reporting that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s
fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect,
the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. The registrant&rsquo;s other certifying officer and I have
disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s auditors
and the audit committee of the registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(a) All significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">(b) Any fraud, whether or not material, that involves
management or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">Date: June 29, 2012</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Lisa Higgins-Lucero</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Lisa Higgins-Lucero</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>CFO, Twistbox Entertainment, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Financial Officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>16
<FILENAME>v316695_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Certification of Principal Executive
Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to U.S.C. Section 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections
(a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Mandalay Digital Group, Inc.,
a Delaware corporation (the &ldquo;Company&rdquo;), does hereby certify, to such officer&rsquo;s knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Annual Report on Form 10-K for the period ending March 31,
2012 of the Company (the &ldquo;Form 10-K&rdquo;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 and the information contained in the Form 10-K fairly presents, in all material respects, the financial condition
and results of operations of the Company.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Date: June 29, 2012</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 48%; border-bottom: windowtext 1pt solid">/s/ Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Peter Adderton</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>



<P STYLE="margin: 0"></P>

</BODY>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>17
<FILENAME>v316695_ex32-2.htm
<DESCRIPTION>EXHIBIT 32.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXHIBIT 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Certification of Principal Financial
Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to U.S.C. Section 1350</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>As Adopted Pursuant to Section 906 of
the Sarbanes-Oxley Act of 2002</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to section 906 of the Sarbanes-Oxley Act of 2002 (subsections
(a) and (b) of section 1350, chapter 63 of title 18, United States Code), the undersigned officer of Mandalay Digital Group, Inc.,
a Delaware corporation (the &ldquo;Company&rdquo;), does hereby certify, to such officer&rsquo;s knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Annual Report on Form 10-K for the period ending March 31,
2012 of the Company (the &ldquo;Form 10-K&rdquo;) fully complies with the requirements of Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 and the information contained in the Form 10-K fairly presents, in all material respects, the financial condition
and results of operations of the Company.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%">Date: June 29, 2012</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 48%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid">/s/ Lisa Higgins-Lucero</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Lisa Higgins-Lucero</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>CFO, Twistbox Entertainment, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(Principal Financial Officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

</BODY>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>18
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<DESCRIPTION>XBRL INSTANCE DOCUMENT
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  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_0934B0C1-ED92-4C9D-B470-DFD0E9FC279E_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;12.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Capital Stock Transactions&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;Preferred Stock&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;There
are 100 shares of Series A Convertible Preferred Stock
(&amp;#x201C;Series A&amp;#x201D;) authorized, issued and outstanding. The
Series A has a par value of $0.0001 per share. The Series A holders
are entitled to: (1) vote on an equal per share basis as common
stock, (2) dividends paid to the common stock holders on an as
if-converted basis and (3) a liquidation preference equal to the
greater of $10 per share of Series A (subject to adjustment) or
such amount that would have been paid to the common stock holders
on an as if-converted basis.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;Common Stock and Warrants&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
addition, in connection with the New Senior Secured Notes described
in Note 10, on June 21, 2010, each purchaser of a New Senior
Secured Note also received a warrant (&amp;#x201C;Warrant&amp;#x201D;) to
purchase shares of common stock of the Company at an exercise price
of $0.25 per share, subject to adjustment. For each $1 of New
Senior Secured Notes purchased, the purchaser received a Warrant to
purchase 3.33 shares of common stock of the Company. Each Warrant
has a five year term. The warrants were valued at $1,678 using the
Black Scholes pricing model (see Note 10) and were originally
recorded as equity.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
February 2011, a former officer of the Company, agreed to cancel
300,000 shares underlying an option to purchase 350,000 shares of
common stock of the Company, and the Company granted an option to
purchase 300,000 shares of the Company&amp;#x2019;s common stock at an
exercise price of $0.25 per share. The Company determined the
incremental fair value of the options issued to be $37, using the
Black-Scholes option pricing model and the following assumptions:
expected life of 6.98 years, a risk free interest rate of 2.99%, a
dividend yield of 0% and volatility of 75%.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
February 2011, an officer of the Company, agreed to cancel 400,000
shares underlying an option to purchase 450,000 shares of common
stock of the Company, and the Company granted an option to purchase
400,000 shares of the Company&amp;#x2019;s common stock at an exercise
price of $0.25 per share. The Company determined the incremental
fair value of the options issued to be $50, using the Black-Scholes
option pricing model and the following assumptions: expected life
of 6.98 years, a risk free interest rate of 2.99%, a dividend yield
of 0% and volatility of 75%.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="COLOR: black"&gt;In September 2010, the Company entered
into a consulting agreement, pursuant to which, the Company issued
warrants to purchase 150,000 shares of the Company&amp;#x2019;s common
stock at an exercise price of $0.39 per share. The Company
determined the fair value of the warrants issued to be $26, using
the Black-Scholes option pricing model and the following
assumptions: expected life of 3.00 years, a risk free interest rate
of 0.70%, a dividend yield of 0% and volatility of 75%. In February
2011, an officer of the Company, agreed to cancel an option to
purchase 500,000 shares of common stock of the Company, and the
Company granted an option to purchase 500,000 shares of the
Company&amp;#x2019;s common stock at an exercise price of $0.25 per
share. The Company determined the incremental fair value of the
options issued to be $26, using the Black-Scholes option pricing
model and the following assumptions: expected life of 3.00 years, a
risk free interest rate of 1.02%, a dividend yield of 0% and
volatility of 75%.&lt;/font&gt;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
April 1, 2011, 347,244 shares of common stock of the Company were
issued to two former employees of the Company, as compensation, at
the closing market price on that date of $0.58 cents per share,
resulting in a total value of $201. In addition, the employees each
agreed to cancel options to purchase 173,622 shares of common stock
in connection with their respective termination agreements which
were valued at $132. The Company determined the fair value of the
cancelled options using the Black-Scholes option pricing model and
the following assumptions: expected life of 5.11 years, a risk free
interest rate of 1.76%, a dividend yield of 0% and volatility of
75%. The net value of the termination was $69.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
April 6, 2011, the Company entered into a consulting agreement. On
January 3, 2012 the Company issued 150,000 shares of common stock
of the Company to the consultant. The shares vest over a one year
period. The shares were valued at the closing market price on that
date of $0.58 cents per share. The overall value was determined to
be $87, of which $87 was recorded through the period ended March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
April 6, 2011, the Company issued warrants to purchase 75,000
shares of the Company&amp;#x2019;s common stock to a vendor, as
compensation for services rendered, at $0.25 cents per share. The
Company determined the fair value of the warrants issued to be a
$34, using the Black-Scholes option pricing model and the following
assumptions:&amp;#xA0;&amp;#xA0;expected life of&amp;#xA0;3.00 years, a risk
free interest rate of&amp;#xA0;.81%, a dividend yield of 0% and
volatility of&amp;#xA0;75%. The warrants vest over a six month period
and $34 of expense has been recorded through the period ended March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In May
2011, 150,000 shares of common stock of the Company were issued to
a vendor as a settlement, at the closing market price on that date
of $0.40 cents per share, resulting in a total value of $60.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In June
2011, the Company entered into a consulting agreement, pursuant to
which, the Company issued warrants to purchase 150,000 shares of
the Company&amp;#x2019;s common stock at an exercise price of $0.47
cents per share. At June 30, 2011, the Company determined the fair
value of the warrants issued to be $53, using the Black-Scholes
option pricing model and the following
assumptions:&amp;#xA0;&amp;#xA0;expected life of&amp;#xA0;3.00 years, a risk
free interest rate of&amp;#xA0;0.81%, a dividend yield of 0% and
volatility of&amp;#xA0;75%. The warrants vest over a one year period
and $53 of expense has been recorded through the period ended March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In June
2011, the Company entered into a consulting agreement, pursuant to
which, the Company issued warrants to purchase 150,000 shares of
the Company&amp;#x2019;s common stock at an exercise price of $0.47
cents per share. At June 30, 2011, the Company determined the fair
value of the warrants issued to be $92, using the Black-Scholes
option pricing model and the following
assumptions:&amp;#xA0;&amp;#xA0;expected life of&amp;#xA0;3.00 years, a risk
free interest rate of&amp;#xA0;0.83%, a dividend yield of 0% and
volatility of&amp;#xA0;75%. The warrants vest over a one year period
and $48 of expense has been recorded in the period ended March 31,
2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 29, 2011, the Company issued a convertible promissory note
for $7,000, pursuant to which the Company issued warrants to
purchase 3,500,000 shares based on 25% coverage and a conversion
rate of $0.50. The exercise price was $0.50 at the date of issuance
with a five year life. At December 29, 2011, the Company determined
the fair value of the warrants to be $2,177 using the Black-Scholes
option pricing model and the following
assumptions:&amp;#xA0;&amp;#xA0;expected life of&amp;#xA0;5 years, a risk free
interest rate of&amp;#xA0;0.88%, a dividend yield of 0% and volatility
of&amp;#xA0;175%. The fair value of the warrants was recorded as a debt
discount. On March 1, 2012 the note was amended, changing the
conversion price to $0.70 cents per share, and the Company issued
10,053,333 shares of common stock of the Company in full payment of
principle and interest of the New Convertible Note at the new
conversion price, and recognized the full expense of the warrants
and debt discount in interest expense as of March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 50,000 shares of common stock of
the Company to Digital Turbine Group LLC for the purchase of its
assets. The shares were valued at the closing market price on that
date of $0.65 cents per share. The overall value was determined to
be $31, and was recorded as production expense as of December 31,
2011.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 50,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined overall value to
be $39, and $11 was recorded as an expense through March 31,
2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 100,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $77, and $22 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 100,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $77, and $22 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 1,787,500 shares of common stock
of the Company to a consultant. The shares are partially vested,
but are restricted for a one year period. The vesting of the shares
is both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $1,379, and $400 was recorded as an expense through
March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 50,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $39, and $11 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 100,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $77, and $22 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 9,037,500 shares of common stock
of the Company to a consultant. The shares are partially vested,
but are restricted for a one year period. The vesting of the shares
is both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $6,974, and $2,025 was recorded as an expense through
March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 200,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $154, and $44 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 500,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $386, and $112 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 25,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $19, and $6 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 500,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $386, and $112 was recorded as an expense through March
31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 1,000,000 shares of common stock
of the Company to a director. The shares vest over a period of one
year. The shares were valued at the closing market price on that
date of $0.62 cents per share. The overall value was determined to
be $620, and $207 of expense was recorded through the period ended
March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 1,000,000 shares of common stock
of the Company to a director. The shares vest over a period of one
year. The shares were valued at the closing market price on that
date of $0.62 cents per share. The overall value was determined to
be $620, and $207 of expense was recorded through the period ended
March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 1,000,000 shares of common stock
of the Company to a director. The shares vest over a period of one
year. The shares were valued at the closing market price on that
date of $0.61 cents per share. The overall value was determined to
be $610, and $158 of expense was recorded through the period ended
March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 3,400,000 shares of common stock
of the Company to a director. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $2,624, and $1,454 of expense was recorded through the
period ended March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company issued 3,600,000 shares of common stock
of the Company to a director. The shares are vested, but are
restricted for a one year period. The shares were valued at the
closing market price on that date of $0.61 cents per share. The
overall value was determined to be $2,196, and $2,196 of expense
was recorded in the period ended December 31, 2011.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
January 2012, the Company entered into a consulting agreement,
pursuant to which, the Company issued 150,000 shares of common
stock of the Company. The shares are vested and were valued at the
closing market price on that date of $0.65 cents per share. The
overall value was determined to be $98, and $98 of expense was
recorded in the period ended January 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
January 2012, the Company entered into a consulting agreement,
pursuant to which, the Company issued 150,000 shares of common
stock of the Company. The shares vest over one year and were valued
at the closing market price on that date of $0.65 cents per share.
The overall value was determined to be $98, and $59 of expense was
recorded through the period ended March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
January 2012, the Company issued 1,375,000 shares of common stock
of the Company to three employees. 875,000 of the shares are
vested, but are restricted for a two year period. The shares were
valued at the closing market price on that date of $0.65 cents per
share. The overall value was determined to be $894, and $569 of
expense was recorded through the period ended March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company issued 50,000 shares of common stock of the
Company to a vendor. The shares are vested, but restricted for a
one year period. The shares were valued at the closing market price
on that date of $0.85 cents per share. The overall value was
determined to be $42, of which $42 was recorded in the period ended
March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company issued 150,000 shares of common stock of
the Company to a vendor. The shares vest over one year and were
valued at the closing market price on that date of $0.90 cents per
share. The overall value was determined to be $135, of which $2 was
recorded through the period ended March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company sold 3,857,143 shares of common stock of
the Company to investors for $0.70 cents per share. In connection
with this sale of common stock, the Company issued warrants to
purchase 964,286 shares of common stock of the Company at an
exercise price of $0.70 cents per share with a term of 5 years.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company issued warrants to purchase 2,000,000
shares of common stock of the Company at an exercise price of $0.70
cents per share with a term of 5 years. The warrants were issued as
consideration related to the modification of an existing note to
convertible debt and treated as debt modification expense of $1,459
as of March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company issued 1,071,429 warrants to purchase
shares of common stock of the Company at an exercise price of $0.70
cents per share. The Company recorded expense of $610 through the
period ended March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;u&gt;Derivative liabilities&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, the Company determined that certain warrants were
considered derivatives because they did not meet the scope
exception in ASC 815-10-15-74. The fair value of these warrants was
$452 and $223 at March 31, 2012 and 2011, respectively.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 29, 2011, the Company issued a $7,000 New Convertible Note
with conversion rate at 75% of the average trading price of the
Company&amp;#x2019;s common stock for the 30-day period immediately
prior to conversion with a floor of $0.50. Pursuant to the
agreement, the Company issued a Coverage Warrant equal to
multiplying 25% by the quotient obtained by dividing the amount of
the principal under the convertible note outstanding immediately
prior to conversion by the conversion price.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Previously issued warrants and embedded conversion features had met
the scope exception in ASC 815-10-15-74; however, due to the
increased number of potential common shares that would need to be
issued upon conversion of the note, the Company did not have
sufficient authorized and unissued shares as required by&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;ASC
815-40-25-10 (b) causing all outstanding derivatives and embedded
conversion features to not meet the scope exception in ASC
815-10-15-74. As a result, the Company was required to separately
account for the outstanding warrants and embedded conversion
options as derivative liabilities, carried at fair value and
marked-to-market each reporting period, with changes in the fair
value each period being charged or credited to operations.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
On December 29, 2011, the Company valued all previously outstanding
warrants and embedded conversion features using the Black-Scholes
model and reclassified $17,549 from additional paid-in capital to
derivative liabilities. The Company also recorded a derivative
liability of $8,255 representing the fair value of the embedded
conversion option and the Coverage Warrant issued with the New
Convertible Note. The Company determined the fair value using the
Black-Scholes option pricing model with the following
assumptions:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;
Previously&amp;#xA0;Outstanding&amp;#xA0;Instruments&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;New&amp;#xA0;Convertible&amp;#xA0;Note&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Embedded&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Embedded&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Conversion&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Conversion&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Coverage&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Warrants&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Options&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Option&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Warrant&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 36%"&gt;Estimated Life
(years)&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;1.82 &amp;#x2013; 4.5&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;1.48&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;5&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Risk Free Interest Rate&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;.28 - .88&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.12&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.12&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.88&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Dividend Yield&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Volatility&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;175&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;175&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;175&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;175&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
March 26, 2012, the Senior Secured Convertible Note holders issued
a waiver to the Company stating that they would not convert their
notes until the Company has notified them in writing that the
Company has increased its authorized capital sufficiently so that
the conversion, exchange or exercise of all convertible securities
can be effectuated without the Company exceeding its authorized
capital.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;With
the issuance of the waiver, the Company determined that the
outstanding warrants and embedded conversion options met the scope
exception of ASC 815-10-15-74 as it had sufficient authorized and
unissued shares as required by ASC 815-40-25-10 (b). Therefore, the
Company valued all outstanding warrants and embedded conversion
options on March 26, 2011 and reclassified $28,733 from derivative
liability to additional paid-in capital. The Company determined the
fair value using the Black-Scholes option pricing model with the
following assumptions:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Embedded&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;
Conversion&lt;/td&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Warrants&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Options&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 56%"&gt;Estimated Life
(years)&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 18%"&gt;1.60 - 4.93&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 18%"&gt;1.24&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Risk Free Interest Rate&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.36% - 1.04&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.12&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Dividend Yield&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Volatility&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;175&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;175&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Restricted Stock Agreements&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;During
the year ended March 31, 2012, the Company entered into restrictive
stock agreements (&amp;#x201C;RSAs&amp;#x201D;) with certain employees and
consultants. The RSAs have performance conditions, market
conditions, time conditions or a combination. Once the stock vests,
the individual is restricted from selling the shares of stock for a
certain defined period from three months to two years depending on
the RSA. Certain RSA are granted voting rights while other RSAs are
not granted voting rights.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&lt;u&gt;Performance and Market Condition RSAs&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 28, 2011, the Company issued 15,850 restricted shares with
vesting criteria based on both performance and market conditions.
The vesting is as follows: (i) one third (1/3) shall vest
immediately upon the completion of one or more debt or equity
financings during the period ending two (2) years from the date
hereof (the &amp;#x201C;Measurement Period&amp;#x201D;) in favor of the
Company of gross proceeds of at least $5 million; (ii) one third
(1/3) shall vest immediately if on any date during the Measurement
Period the Company&amp;#x2019;s total enterprise value (computed by
multiplying the number of outstanding shares of Common Stock on a
fully diluted (taking into account only those stock options that
are in-the-money on such date), as-converted basis by the average
daily trading price for Common Stock for the thirty (30) trading
day period immediately preceding the date of determination) equals
or exceeds $100 million; and (iii) one third (1/3) shall vest
immediately if on any date during the Measurement Period the
Company&amp;#x2019;s total enterprise value (calculated as set forth in
clause (ii) above) equals or exceeds $200 million; provided,
however, that all unvested shares of restricted common stock shall
vest immediately upon the sale of all or substantially all of the
assets of the Company, upon the merger or reorganization of the
Company following which the equity holders of the Company
immediately prior to the consummation of such merger or
reorganization collectively own less than 50% of the voting power
of the resulting entity, or upon the sale of equity securities of
the Company representing 50% or more of the voting power of the
Company or 50% or more of the economic interest in the Company in a
single transaction or in a series of related transactions.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Each
share is restricted from the individual selling the stock for a
period of one year from the date of vesting.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Of the
15,850 restricted shares, the 5,283 vested shares and 8,292
unvested shares were granted voting rights and have been included
in the outstanding shares as of March 31, 2012. The remaining
unvested shares do not have voting rights and have been excluded
from the outstanding shares as of March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 28, 2011, one third of the restricted shares vested due to
the $7,000 financing agreement entered into by the Company. The
Company valued the 5,283 vested RSAs at $3,223 using the
Company&amp;#x2019;s ending share price at December 28, 2011 of
$0.61.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;For
accounting purposes, the one third unvested shares related to the
$100,000 enterprise value and the one third unvested shares related
to the $200,000 enterprise value are considered to have a market
condition. The effect of the market condition is reflected in the
grant date fair value of the award and, thus compensation expense
is recognized on this type of award provided that the requisite
service is rendered (regardless of whether the market condition is
achieved). The Company estimated the grant date fair value to be
$0.279 per share and $0.206 per share for the $100,000 enterprise
value and $200,000 enterprise value, respectively, using a Monte
Carlo simulation that uses the following assumptions:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Volatility &amp;#x2013; 100%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Restricted stock discount &amp;#x2013; 36.1%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Risk free interest rate of 0.1%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Dividend yield of 0%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company expensed $3,552 related to the 15,850 RSAs issued on
December 28, 2011 and will expense the remaining $2,233 over the
period ended December 28, 2013.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&lt;u&gt;Time and Performance Condition RSAs&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
January 3, 2012, the Company issued 2,375 restricted shares with
vesting criteria based on both time and performance conditions. At
January 3, 2012, 1,025 restricted shares vested immediately and the
remaining 1,375 unvested shares must meet certain performance
criteria which has either not been defined by the Board of
Directors or the Company has determined that the probability of
meeting the performance criteria is 0%.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Each
share is restricted from the individual selling the stock for a
period from one year up to two years from the date of vesting.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Of the
2,375 restricted shares, the 1,025 vested shares are determined to
have voting rights and have been included in the outstanding shares
as of March 31, 2012. The remaining 1,350 unvested shares do not
have voting rights and have been excluded from the outstanding
shares as of March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="COLOR: black"&gt;For accounting purposes, the Company
determined the grant date fair value to be $0.65 per share which is
the closing price of the Company&amp;#x2019;s stock price on January 3,
2012.&lt;/font&gt; The Company expensed $662, related to the 2,375 RSAs
issued on January 3, 2012. No further expense will be taken until
the Board of Directors details the performance criteria.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&lt;u&gt;Time Condition RSAs&lt;/u&gt;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
various dates during the year ended March 31, 2012, the Company
issued 7,100 restricted shares with vesting criteria based on time
conditions. As of March 31, 2012, 3,650 restricted shares were
vested with each share being restricted from the individual selling
the stock for a period from three months up to two years from the
date of vesting.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Of the
7,100 restricted shares, the 3,650 vested shares are determined to
have voting rights and have been included in the outstanding shares
as of March 31, 2012. The remaining 3,450 unvested shares do not
have voting rights and have been excluded from the outstanding
shares as of March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="COLOR: black"&gt;For accounting purposes, the Company
determined the weighted average grant date fair value to be $0.62
per share based on the closing price of the Company&amp;#x2019;s stock
price on the various issue dates.&lt;/font&gt; The Company expensed
$2,957 related to the 7,100 RSAs and will expense the remaining
$2,142 grant date fair value over the year ended March 31,
2013.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
following table summarizes the RSA activity:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
Weighted&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;(in thousands, except grant date fair
value)&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
Average&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;Number
of&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;Grant
Date&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;Shares&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;Fair Value&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;Unvested at March 31, 2010&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 70%; FONT-SIZE: 10pt"&gt;Granted&lt;/td&gt;
&lt;td style="WIDTH: 1%; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-SIZE: 10pt"&gt;300&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-SIZE: 10pt"&gt;
0.250&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;Canceled&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;Vested&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
300&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;Unvested at
March 31, 2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
0.25&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;Granted&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;25,325&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;0.463&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;Canceled&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;Vested&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
(9,958&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
0.618&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;Unvested at
March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
15,667&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
0.36&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:AdjustmentsToAdditionalPaidInCapitalOther contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_91B8CB13-3C8F-4098-AC77-A11D254FE8A5_10009_1200023">9034000</us-gaap:AdjustmentsToAdditionalPaidInCapitalOther>
  <us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_784ED236-FCAD-4F37-BC9C-F8A66E66E042_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;3.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Summary of Significant Accounting Policies&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Basis of Presentation&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of
America (&amp;#x201C;GAAP&amp;#x201D;) and pursuant to the rules and
regulations of the Securities and Exchange Commission
(&amp;#x201C;SEC&amp;#x201D;) for annual financial statements.&amp;#xA0;&amp;#xA0;The
financial statements, in the opinion of management, include all
adjustments necessary for a fair statement of the results of
operations, financial position and cash flows for each period
presented.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Principles of Consolidation&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
consolidated financial statements include the accounts of the
Company and our wholly-owned subsidiaries. All material
intercompany balances and transactions have been eliminated in
consolidation. Discontinued operations have been treated in
accordance with Financial Accounting Standards Board
(&amp;#x201C;FASB&amp;#x201D;) Accounting Standards Codification
(&amp;#x201C;ASC&amp;#x201D;)&amp;#xA0;&amp;#xA0;205-20, &lt;i&gt;Discontinued
Operations.&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Revenue Recognition&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company&amp;#x2019;s revenues are derived primarily by licensing
material and software in the form of products (Image Galleries,
Wallpapers, video, WAP Site access, Mobile TV), developing and
maintaining carrier platforms, mobile advertising, mobile billing
and mobile games. License arrangements with the end user can be on
a perpetual or subscription basis.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;A
perpetual license gives an end user the right to use the product,
image or game on the registered handset on a perpetual basis. A
subscription license gives an end user the right to use the
product, image or game on the registered handset for a limited
period of time, ranging from a few days to as long as one
month.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company either markets and distributes its products directly to
consumers, or distributes products through mobile
telecommunications service providers (&amp;#x201C;carriers&amp;#x201D;), in
which case the carrier markets the product, images or games to end
users. License fees for perpetual and subscription licenses are
usually billed upon download of the product, image or game by the
end user. In the case of subscription licenses, many subscriber
agreements provide for automatic renewal until the subscriber
opts-out, while others provide opt-in renewal. In either case,
subsequent billings for subscription licenses are generally billed
monthly. The Company applies the provisions of FASB ASC 985-605,
&lt;i&gt;Software Revenue Recognition&lt;/i&gt;, to all transactions.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Revenues are recognized from the Company&amp;#x2019;s products, images
and games when persuasive evidence of an arrangement exists, the
product, image or game has been delivered, the fee is fixed or
determinable, and the collection of the resulting receivable is
probable. For both perpetual and subscription licenses, management
considers a license agreement to be evidence of an arrangement with
a carrier or aggregator and a &amp;#x201C;clickwrap&amp;#x201D; agreement to
be evidence of an arrangement with an end user. For these licenses,
the Company defines delivery as the download of the product, image
or game by the end user.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company estimates revenues from carriers in the current period when
reasonable estimates of these amounts can be made. Most carriers
only provide detailed sales transaction data on a one to two month
lag. Estimated revenue is treated as unbilled receivables until the
detailed reporting is received and the revenues can be billed. Some
carriers provide reliable interim preliminary reporting and others
report sales data within a reasonable time frame following the end
of each month, both of which allow the Company to make reasonable
estimates of revenues and therefore to recognize revenues during
the reporting period when the end user licenses the product, image
or game. Determination of the appropriate amount of revenue
recognized involves judgments and estimates that the Company
believes are reasonable, but it is possible that actual results may
differ from the Company&amp;#x2019;s estimates. The Company&amp;#x2019;s
estimates for revenues include consideration of factors such as
preliminary sales data, carrier-specific historical sales trends,
volume of activity on company monitored sites, seasonality, time
elapsed from launch of services or product lines, the age of games
and the expected impact of newly launched games, successful
introduction of newer and more advanced handsets, promotions during
the period and economic trends. When the Company receives the final
carrier reports, to the extent not received within a reasonable
time frame following the end of each month, the Company records any
differences between estimated revenues and actual revenues in the
reporting period when the Company determines the actual amounts.
Revenues earned from certain carriers may not be reasonably
estimated. If the Company is unable to reasonably estimate the
amount of revenues to be recognized in the current period, the
Company recognizes revenues upon the receipt of a carrier revenue
report and when the Company&amp;#x2019;s portion of licensed revenues
are fixed or determinable and collection is probable. To monitor
the reliability of the Company&amp;#x2019;s estimates, management, where
possible, reviews the revenues by country, by carrier and by
product line on a regular basis to identify unusual trends such as
differential adoption rates by carriers or the introduction of new
handsets. If the Company deems a carrier not to be creditworthy,
the Company defers all revenues from the arrangement until the
Company receives payment and all other revenue recognition criteria
have been met.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
accordance with FASB ASC 605-45, &lt;i&gt;Reporting Revenue Gross as a
Principal Versus Net as an Agent&lt;/i&gt;, the Company recognizes as
revenues the amount the carrier reports as payable upon the sale of
the Company&amp;#x2019;s products, images or games. The Company has
evaluated its carrier agreements and has determined that it is not
the principal when selling its products, images or games through
carriers. Key indicators that it evaluated to reach this
determination include:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 10%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 3%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&lt;font style="FONT-FAMILY: Wingdings 2"&gt;&amp;#x2014;&lt;/font&gt;&lt;/td&gt;
&lt;td style="WIDTH: 87%; TEXT-AUTOSPACE: ideograph-numeric"&gt;wireless
subscribers directly contract with the carriers, which have most of
the service interaction and are generally viewed as the primary
obligor by the subscribers;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&lt;font style="FONT-FAMILY: Wingdings 2"&gt;&amp;#x2014;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;carriers generally
have significant control over the types of content that they offer
to their subscribers;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&lt;font style="FONT-FAMILY: Wingdings 2"&gt;&amp;#x2014;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;carriers are directly
responsible for billing and collecting fees from their subscribers,
including the resolution of billing disputes;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&lt;font style="FONT-FAMILY: Wingdings 2"&gt;&amp;#x2014;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;carriers generally
pay the Company a fixed percentage of their revenues or a fixed fee
for each game;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&lt;font style="FONT-FAMILY: Wingdings 2"&gt;&amp;#x2014;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;carriers generally
must approve the price of the Company&amp;#x2019;s content in advance of
their sale to subscribers, and the Company&amp;#x2019;s more significant
carriers generally have the ability to set the ultimate price
charged to their subscribers; and&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&lt;font style="FONT-FAMILY: Wingdings 2"&gt;&amp;#x2014;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;the Company has
limited risks, including no inventory risk and limited credit
risk.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;For
direct to consumer business, revenue is earned by delivering a
product or service directly to the end user of that product or
service. In those cases, the Company records as revenue the amount
billed to that end user and recognizes the revenue when persuasive
evidence of an arrangement exists, the product, image or game has
been delivered, the fee is fixed or determinable, and the
collection of the resulting receivable is probable. Substantially
all of our discontinued operations represents direct to consumer
business.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Net
(Loss) per Common Share&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;Basic loss per common share is
computed by dividing net loss attributable to common stockholders
by the weighted average number of common shares outstanding for the
period. Diluted net loss per share is computed by dividing net loss
attributable to common stockholders by the weighted average number
of common shares outstanding for the period plus dilutive common
stock equivalents, using the treasury stock method. Potentially
dilutive shares&lt;/font&gt; &lt;font style="FONT-SIZE: 10pt"&gt;from stock
options and warrants and the conversion of the Series A preferred
stock were as follows:&lt;/font&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 50%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;Year Ended&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;Year Ended&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;March 31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;March 31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 70%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Potentially dilutive shares&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;21,943&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;11,992&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Comprehensive Loss&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Comprehensive loss consists of two components, net loss and other
comprehensive income. Other comprehensive income refers to gains
and losses that under generally accepted accounting principles are
recorded as an element of stockholders&amp;#x2019; equity, but are
excluded from net income. The Company&amp;#x2019;s other comprehensive
income currently includes only foreign currency translation
adjustments.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Cash
and Cash Equivalents&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company considers all highly liquid short-term investments
purchased with a maturity of three months or less to be cash
equivalents.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Accounts Receivable&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company maintains reserves for potential credit losses on accounts
receivable. Management reviews the composition of accounts
receivable and analyzes historical bad debts, customer
concentrations, customer credit worthiness, current economic trends
and changes in customer payment patterns to evaluate the adequacy
of these reserves.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Content Provider Licenses&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;Content Provider License Fees&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company&amp;#x2019;s royalty expenses consist of fees that it pays to
branded content owners for the use of their intellectual property
in the development of the Company&amp;#x2019;s games and other content,
and other expenses directly incurred in earning revenue.
Royalty-based obligations are either, accrued as incurred and
subsequently paid, or in the case of content acquisitions, paid in
advance and capitalized on our balance sheet as prepaid license
fees. These royalty-based obligations are expensed to cost of
revenues either at the applicable contractual rate related to that
revenue or over the estimated life of the content acquired. Minimum
guarantee license payments that are not recoupable against future
royalties are capitalized and amortized over the lesser of the
estimated life of the branded title or the term of the license
agreement.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;Content Acquired&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Amounts
paid to third party content providers as part of an agreement to
make content available to the Company for a term or in perpetuity,
without a revenue share, have been capitalized and are included in
the balance sheet as prepaid expenses. These balances will be
expensed over the estimated life of the content acquired.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Software Development Costs&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company applies the principles of FASB ASC 985-20, &lt;i&gt;Accounting
for the Costs of Computer Software to Be Sold, Leased, or Otherwise
Marketed&lt;/i&gt; (&amp;#x201C;ASC 985-20&amp;#x201D;). ASC 985-20 requires that
software development costs incurred in conjunction with product
development be charged to research and development expense until
technological feasibility is established. Thereafter, until the
product is released for sale, software development costs must be
capitalized and reported at the lower of unamortized cost or net
realizable value of the related product.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company has adopted the &amp;#x201C;tested working model&amp;#x201D; approach
to establishing technological feasibility for its products and
games. Under this approach, the Company does not consider a product
or game in development to have passed the technological feasibility
milestone until the Company has completed a model of the product or
game that contains essentially all the functionality and features
of the final game and has tested the model to ensure that it works
as expected. To date, the Company has not incurred significant
costs between the establishment of technological feasibility and
the release of a product or game for sale; thus, the Company has
expensed all software development costs as incurred. The Company
considers the following factors in determining whether costs can be
capitalized: the emerging nature of the mobile market; the gradual
evolution of the wireless carrier platforms and mobile phones for
which it develops products and games; the lack of pre-orders or
sales history for its products and games; the uncertainty regarding
a product&amp;#x2019;s or game&amp;#x2019;s revenue-generating potential; its
lack of control over the carrier distribution channel resulting in
uncertainty as to when, if ever, a product or game will be
available for sale; and its historical practice of canceling
products and games at any stage of the development process.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Product Development Costs&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company charges costs related to research, design and development
of products to product development expense as incurred. The types
of costs included in product development expenses include salaries,
contractor fees and allocated facilities costs.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Advertising Expenses&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company expenses the costs of advertising, including direct
response advertising, the first time the advertising takes place.
Advertising expense for continuing operations was $7 and $116 in
the years ended March 31, 2012 and 2011, respectively. Advertising
expense for discontinued operations was $0 and $956 in the years
ended March 31, 2012 and 2011, respectively.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Restructuring&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company accounts for costs associated with employee terminations
and other exit activities in accordance with FASB ASC 420-10&lt;i&gt;,
Accounting for Costs Associated with Exit or Disposal
Activities&lt;/i&gt;. The Company records employee termination benefits
as an operating expense when it communicates the benefit
arrangement to the employee and it requires no significant future
services, other than a minimum retention period, from the employee
to earn the termination benefits.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Presentation&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
order to facilitate the comparison of financial information,
certain amounts reported in the prior year have been reclassified
to conform to the current year presentation.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Fair
Value of Financial Instruments&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012 and 2011, the carrying value of cash and cash
equivalents, accounts receivable, prepaid expenses and other
current assets, accounts payable, accrued license fees, accrued
compensation, derivative liabilities and other current liabilities
approximates fair value due to the short-term nature of such
instruments.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Derivative Liabilities&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company applies ASC Topic 815, &amp;#x201C;Derivatives and
Hedging,&amp;#x201D; which provides a two-step model to determine
whether a financial instrument or an embedded feature is indexed to
an issuer&amp;#x2019;s own stock and thus able to qualify for the scope
exception in ASC 815-10-15-74. Using the criteria in ASC 815, the
Company determines which instruments or embedded features that
require liability accounting and records the fair values as a
derivative liability. The changes in the values of the derivative
liabilities are shown in the accompanying consolidated statements
of operations as &amp;#x201C;change in fair value of accrued derivative
liabilities gain / (loss).&amp;#x201D;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Foreign Currency Translation&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company uses the United States dollar for financial reporting
purposes.&amp;#xA0;&amp;#xA0;Assets and liabilities of foreign operations
are translated using current rates of exchange prevailing at the
balance sheet date. Equity accounts have been translated at their
historical exchange rates when the capital transaction
occurred.&amp;#xA0;&amp;#xA0;Statement of Operations amounts are translated
at average rates in effect for the reporting period. The foreign
currency translation adjustment gains of $97 in the year ended
March 31, 2012 and $128 in the year ended March 31, 2011 has been
reported as a component of comprehensive loss in the consolidated
statements of stockholders&amp;#x2019; equity and comprehensive
income.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Concentrations of Credit Risk&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Financial instruments which potentially subject us to concentration
of credit risk consist principally of cash and cash equivalents,
and accounts receivable. We have placed cash and cash equivalents
with a single high credit-quality institution. Most of our sales
are made directly to large national Mobile Phone Operators in the
countries that we operate. We have a significant level of business
and resulting significant accounts receivable balance with one
operator and therefore have a high concentration of credit risk
with that operator. We perform ongoing credit evaluations of our
customers and maintain an allowance for potential credit losses. As
of March 31, 2012, one major customer represented approximately 39%
of our gross accounts receivable outstanding, and 43% of gross
accounts receivable outstanding as of March 31, 2011. This customer
accounted for 41% of our gross revenues in the year ended March 31,
2012; and 49% in the year ended March 31, 2011.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Property and Equipment&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Property and equipment is stated at cost.&amp;#xA0;&amp;#xA0;Depreciation
and amortization is calculated using the straight-line method over
the estimated useful lives of the related assets. Estimated useful
lives are the lesser of 8 to 10 years or the term of the lease for
leasehold improvements and 5 years for other assets.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Goodwill and Indefinite Life Intangible Assets&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Goodwill represents the excess of cost over fair value of net
assets of businesses acquired. In accordance with FASB ASC 350-20
&lt;i&gt;Goodwill and Other Intangible Assets&lt;/i&gt;, the value assigned to
goodwill and indefinite lived intangible assets, including
trademarks and tradenames, is not amortized to expense, but rather
they are evaluated at least on an annual basis to determine if
there are potential impairments. If the fair value of the reporting
unit is less than its carrying value, an impairment loss is
recorded to the extent that the implied fair value of the reporting
unit goodwill is less than the carrying value. If the fair value of
an indefinite lived intangible (such as trademarks and trade names)
is less than its carrying amount, an impairment loss is recorded.
Fair value is determined based on discounted cash flows, market
multiples or appraised values, as appropriate. Discounted cash flow
analysis requires assumptions about the timing and amount of future
cash inflows and outflows, risk, the cost of capital, and terminal
values. Each of these factors can significantly affect the value of
the intangible asset. The estimates of future cash flows, based on
reasonable and supportable assumptions and projections, require
management&amp;#x2019;s judgment. Any changes in key assumptions about
the Company&amp;#x2019;s businesses and their prospects, or changes in
market conditions, could result in an impairment charge. Some of
the more significant estimates and assumptions inherent in the
intangible asset valuation process include: the timing and amount
of projected future cash flows; the discount rate selected to
measure the risks inherent in the future cash flows; and the
assessment of the asset&amp;#x2019;s life cycle and the competitive
trends impacting the asset, including consideration of any
technical, legal or regulatory trends.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In the
year ended March 31, 2012, the Company determined that there was an
impairment of goodwill, amounting to $2,969.&amp;#xA0;&amp;#xA0;In the year
ended March 31, 2011, the Company determined that there was an
impairment of goodwill, amounting to $1,546. In performing the
related valuation analysis, the Company used various valuation
methodologies including probability weighted discounted cash flows,
comparable transaction analysis, and market capitalization and
comparable company multiple comparison. The impairment is detailed
in Note 9 below.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Impairment of Long-Lived Assets and Finite Life
Intangibles&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Long-lived assets, including, intangible assets subject to
amortization primarily consist of customer lists, license
agreements and software that have been acquired are amortized using
the straight-line method over their useful&amp;#xA0;life ranging from
five to eight years and are reviewed for impairment in accordance
with FASB ASC 360-10, &lt;i&gt;Accounting for the Impairment or Disposal
of Long-Lived Assets&lt;/i&gt;, whenever events or changes in
circumstances indicate that the carrying amount of an asset may not
be recoverable. Recoverability of assets to be held and used is
measured by a comparison of the carrying amount of an asset to
future undiscounted net cash flows expected to be generated by the
asset. If such assets are considered to be impaired, the impairment
to be recognized is measured by the amount by which the carrying
amount of the assets exceeds the fair value of the assets. Assets
to be disposed of are reported at the lower of the carrying amount
or fair value less costs to sell.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In the
year ended March 31, 2012, the Company determined that there was an
impairment of intangible assets amounting to $2,319. In the year
ended March 31, 2011, the Company determined that there was an
impairment of intangible assets, amounting to $4,482. In performing
the related valuation analysis the Company used various valuation
methodologies including probability weighted discounted cash flows,
comparable transaction analysis, and market capitalization and
comparable company multiple comparison. The impairment is detailed
in Note 9 below.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Income Taxes&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company accounts for income taxes in accordance with FASB ASC
740-10, &lt;i&gt;Accounting for Income Taxes&lt;/i&gt; (&amp;#x201C;ASC
740-10&amp;#x201D;), which requires recognition of deferred tax assets
and liabilities for the expected future tax consequences of events
that have been included in its financial statements or tax returns.
Under ASC 740-10, the Company determines deferred tax assets and
liabilities for temporary differences between the financial
reporting basis and the tax basis of assets and liabilities along
with net operating losses, if it is more likely than not the tax
benefits will be realized using the enacted tax rates in effect for
the year in which it expects the differences to
reverse.&amp;#xA0;&amp;#xA0;To the extent a deferred tax asset cannot be
recognized, a valuation allowance is established if necessary.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
ASC 740-10 prescribes that a company should use a
more-likely-than-not recognition threshold based on the technical
merits of the tax position taken. Tax positions that meet the
&amp;#x201C;more-likely-than-not&amp;#x201D; recognition threshold should be
measured as the largest amount of the tax benefits, determined on a
cumulative probability basis, which is more likely than not to be
realized upon ultimate settlement in the financial statements. We
recognize interest and penalties related to income tax matters as a
component of the provision for income taxes. We do not currently
anticipate that the total amount of unrecognized tax benefits will
significantly change within the next 12&amp;#xA0;months.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Stock-based compensation&lt;/b&gt;&lt;i&gt;.&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;We have
applied FASB ASC 718 &lt;i&gt;Share-Based Payment&lt;/i&gt; (&amp;#x201C;ASC
718&amp;#x201D;) and accordingly, we record stock-based compensation
expense for all of our stock-based awards.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Under
ASC 718, we estimate the fair value of stock options granted using
the Black-Scholes option pricing model. The fair value for awards
that are expected to vest is then amortized on a straight-line
basis over the requisite service period of the award, which is
generally the option vesting term. The amount of expense recognized
represents the expense associated with the stock options we expect
to ultimately vest based upon an estimated rate of forfeitures;
this rate of forfeitures is updated as necessary and any
adjustments needed to recognize the fair value of options that
actually vest or are forfeited are recorded.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Black-Scholes option pricing model, used to estimate the fair value
of an award, requires the input of subjective assumptions,
including the expected volatility of our common stock, interest
rates, dividend rates and an option&amp;#x2019;s expected life. As a
result, the financial statements include amounts that are based
upon our best estimates and judgments relating to the expenses
recognized for stock-based compensation.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company grants restricted stock subject to market or performance
conditions that vest based on the satisfaction of the conditions of
the award. Unvested restricted stock entitles the grantees to
dividends, if any, with voting rights determined in each agreement.
The fair market values of market condition-based awards are
determined using the Monte Carlo simulation method. The Monte Carlo
simulation method is subject to variability as several factors
utilized must be estimated, including the derived service period,
which is estimated based on the Company&amp;#x2019;s judgment of likely
future performance and the Company&amp;#x2019;s stock price volatility.
The fair value of performance-based awards is determined using the
market closing price on the grant date. Derived service periods and
the periods charged with compensation expense for performance-based
awards are estimated based on the Company&amp;#x2019;s judgment of
likely future performance and may be adjusted in future periods
depending on actual performance.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Preferred Stock&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company applies the guidance enumerated in FASB ASC&amp;#xA0;480-10,
&lt;i&gt;Accounting for Certain Financial Instruments with
Characteristics of both Liabilities and Equity&lt;/i&gt; (&amp;#x201C;ASC
480-10&amp;#x201D;) when determining the classification and measurement
of preferred stock. Preferred shares subject to mandatory
redemption (if any) are classified as liability instruments and are
measured at fair value in accordance with ASC 480-10. All other
issuances of preferred stock are subject to the classification and
measurement principles of ASC 480-10. Accordingly, the Company
classifies conditionally redeemable preferred shares (if any),
which includes preferred shares that feature redemption rights that
are either within the control of the holder or subject to
redemption upon the occurrence of uncertain events not solely
within the Company&amp;#x2019;s control, as temporary equity. At all
other times, the Company classifies its preferred shares in
stockholders&amp;#x2019; equity.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;b&gt;Use
of Estimates&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
preparation of financial statements in conformity with generally
accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosures of contingent asset and
liabilities at the date of the financial statements and reported
amounts of revenue and expenses during the period. Actual results
could differ from those estimates. The most significant estimates
relate to revenues for periods not yet reported by Carriers,
liabilities recorded for future minimum guarantee payments under
content licenses, accounts receivable allowances, and stock-based
compensation expense.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Recently Adopted Accounting Pronouncements&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2010, the FASB issued updated guidance on when and how to
perform certain steps of the periodic goodwill impairment test for
public entities that may have reporting units with zero or negative
carrying amounts. This guidance is effective for fiscal years, and
interim periods within those years, beginning after December 15,
2010, with early adoption prohibited. It is applicable to the
Company&amp;#x2019;s fiscal year beginning April 1, 2011. The Company
evaluated this guidance, and determined it doesn&amp;#x2019;t have a
material effect on its consolidated financial statements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2010, the FASB also issued guidance to clarify the
reporting of pro forma financial information related to business
combinations of public entities and to expand certain supplemental
pro forma disclosures. This guidance is effective prospectively for
business combinations that occur on or after the beginning of the
fiscal year beginning on or after December 15, 2010, with early
adoption permitted. It is applicable to the Company&amp;#x2019;s fiscal
year beginning April 1, 2011. The Company evaluated this guidance,
and determined it doesn&amp;#x2019;t have a material effect on its
consolidated financial statements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In May
2011, the FASB issued guidance to amend certain measurement and
disclosure requirements related to fair value measurements to
improve consistency with international reporting standards. This
guidance is effective prospectively for public entities for interim
and annual reporting periods beginning after December 15, 2011,
with early adoption by public entities prohibited, and is
applicable to the Company&amp;#x2019;s fiscal quarter beginning January
1, 2012. The Company evaluated this guidance, and determined it
doesn&amp;#x2019;t have a material effect on its consolidated financial
statements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
September 2011, the Financial Accounting Standards Board (FASB)
issued amended accounting guidance related to goodwill impairment
testing. The new guidance provides the option to perform a
qualitative assessment by applying a more likely than not scenario
to determine whether the fair value of a reporting unit is less
than its carrying amount, which may then allow a company to skip
the annual two-step quantitative goodwill impairment test depending
on the determination. The amended guidance is effective for annual
and interim goodwill impairment tests performed for fiscal years
beginning after December 15, 2011. Earlier adoption is permitted.
Management does not expect the adoption of the amended guidance to
have a material impact on the Company&amp;#x2019;s consolidated
financial statements. The Company evaluated this guidance, and
determined it doesn&amp;#x2019;t have a material effect on its
consolidated financial statements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Recently Issued Accounting Pronouncements&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In June
2011, the FASB issued new guidance on the presentation of
comprehensive income that will require a company to present
components of net income and other comprehensive income in one
continuous statement or in two separate, but consecutive
statements. There are no changes to the components that are
recognized in net income or other comprehensive income under
current GAAP. This guidance is effective for fiscal years, and
interim periods within those fiscal years, beginning after December
15, 2011, with early adoption permitted. It is applicable to the
Company&amp;#x2019;s fiscal year beginning April 1, 2012. The Company
expects this guidance to have an impact on the disclosures related
to comprehensive income.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Other
recent authoritative guidance issued by the FASB (including
technical corrections to the FASB Accounting Standards
Codification), the American Institute of Certified Public
Accountants, and the SEC did not, or are not expected to have a
material effect on the Company&amp;#x2019;s consolidated financial
statements.&lt;/p&gt;
&lt;/div&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
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  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_84470BE6-C9B1-4ADD-BD25-0474AFCFDF12_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;16.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Commitments and Contingencies&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Operating Lease Obligations&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company leases office facilities and equipment under noncancelable
operating leases expiring in various years through 2014.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Following is a summary of future minimum payments under initial
terms of leases as of:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Year Ending March 31,&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 0.5in; WIDTH: 84%"&gt;
2013&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 12%"&gt;32&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.5in"&gt;
2014&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
5&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Total minimum
lease payments&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
37&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;These
amounts do not reflect future escalations for real estate taxes and
building operating expenses.&amp;#xA0;&amp;#xA0;Rental expense for
continuing operations amounted to $170 and $291, respectively, for
the years ended March 31, 2012 and&amp;#xA0;2011.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Other Obligations&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, the Company was obligated for payments under
various distribution agreements, equipment lease agreements,
employment contracts and consulting agreements with initial terms
greater than one year at March 31, 2012.&amp;#xA0;&amp;#xA0;Annual payments
relating to these commitments at March 31, 2012 are as follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Year Ending March 31,&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.5in; WIDTH: 84%"&gt;
2013&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%"&gt;
1,108&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Total minimum
payments&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1,108&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 28, 2011, the Company entered into an employment agreement
with Peter Adderton to serve as the Company&amp;#x2019;s Chief Executive
Officer and as a member of the Company&amp;#x2019;s Board of
Directors.&amp;#xA0; The term of the agreement is one year.&amp;#xA0;
Pursuant to the agreement, the Company agreed to the following:&lt;/p&gt;
&lt;p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Annual Fees: For all services rendered by the Chief Executive
Officer under this agreement, the Company shall pay the Executive
an aggregate fee of four hundred fifty thousand dollars ($450,000)
per annum.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Special Incentive Bonus:&amp;#xA0; Mr. Adderton&amp;#xA0; is to receive
a bonus of $250,000 payable (A) 50% upon completion of a $5 million
financing(s) during the two years following the date of the
employment agreement (&amp;#x201C;Measurement Period&amp;#x201D;)&amp;#xA0; and
(B) the remaining $125,000 upon the successful completion of
additional debt or equity financing(s) during the Measurement
Period, which, when aggregated with any prior financings during the
Measurement Period, result in the Company realizing at least $10
million of gross proceeds.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Annual Bonus:&amp;#xA0; Mr. Adderton shall be entitled to be paid
an annual incentive bonus in cash in an amount of up to 100% of his
salary based upon satisfaction of performance-related milestones.
The performance-related milestones shall be mutually determined by
the Board of Directors and Mr. Adderton within sixty (60) days of
the effective Date of the employment agreement.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Restricted Stock Grant: The Company granted Mr. Adderton
9,037,500 shares of the Company&amp;#x2019;s restricted common stock,
subject to the certain terms and conditions specified in the
restricted stock agreement, which shall vest as follows: (i) one
third (1/3) shall vest immediately upon the completion of one or
more debt or equity financings during the Measurement Period in
favor of the Company&amp;#xA0; of gross proceeds of at least $5
million; (ii) one third (1/3) shall vest immediately if on any date
during the Measurement Period the Company&amp;#x2019;s total enterprise
value (computed by multiplying the number of outstanding shares of
the Employer&amp;#x2019;s common stock on a fully diluted (taking into
account only those stock options that are in-the-money on such
date), as-converted basis by the average daily trading price for
the Company&amp;#x2019;s common stock for the thirty (30) trading day
period immediately preceding the date of determination) equals or
exceeds $100 million; and (iii) one third (1/3) shall vest
immediately if on any date during the Measurement Period the
Company&amp;#x2019;s total enterprise value (calculated as set forth in
clause (ii) above) equals or exceeds $200 million; provided ,
however , that all unvested shares of restricted common stock shall
vest immediately upon the sale of all or substantially all of the
assets of the Company, upon the merger or reorganization of the
Company following which the equity holders of the Company
immediately prior to the consummation of such merger or
reorganization collectively own less than 50% of the voting power
of the resulting entity, or upon the sale of equity securities of
the Company representing 50% or more of the voting power of the
Company or 50% or more of the economic interest in the Company in a
single transaction or in a series of related transactions (i.e., a
&amp;#x201C;Change of Control&amp;#x201D;). All shares shall be subject to a
one (1) year lock-up following the vesting of such shares.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Additional Performance Bonuses:&amp;#xA0; Mr. Adderton shall be
entitled to payment of (i) a performance bonus equal to $2.5
million in cash or registered and freely tradable stock of the
Company, at Mr. Adderton&amp;#x2019;s choice, if, on any date during the
Measurement Period the Company&amp;#x2019;s total enterprise value
(calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $150 million; and (ii) payment of a performance bonus equal
to $10 million in cash or registered and freely tradable stock of
the Company, at Mr.&amp;#xA0; Adderton&amp;#x2019;s choice, if, on any date
during the Measurement Period, the Company&amp;#x2019;s total enterprise
value (calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $1 billion. Any bonus payable under this subsection (f)
shall vest upon the achievement of the specified criteria and shall
be paid on or within thirty (30) days of such vesting date.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company entered into an agreement with Robert Ellin to serve as the
Company&amp;#x2019;s&amp;#xA0;Executive Chairman.&amp;#xA0; The term of the
agreement is one year.&amp;#xA0; Pursuant to the agreement, the Company
agreed to the following:&lt;/p&gt;
&lt;p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Annual Fees: For all services rendered by the Chairman under
this agreement, the Company shall pay the Chairman an aggregate fee
of four hundred fifty thousand dollars ($450,000) per annum.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Annual Bonus:&amp;#xA0; Mr. Ellin shall be entitled to be paid an
annual incentive bonus in cash in an amount of up to 100% of his
salary based upon satisfaction of performance-related milestones.
The performance-related milestones shall be mutually determined by
the Board of Directors and Mr. Ellin within sixty (60) days of the
effective Date of the employment agreement.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Restricted Stock Grant: The Company granted Mr. Ellin 3,400,000
shares of the Company&amp;#x2019;s restricted common stock, subject to
the certain terms and conditions specified in the restricted stock
agreement, which shall vest as follows: (i) one third (1/3) shall
vest immediately upon the completion of one or more debt or equity
financings during the Measurement Period in favor of the
Company&amp;#xA0; of gross proceeds of at least $5 million; (ii) one
third (1/3) shall vest immediately if on any date during the
Measurement Period the Company&amp;#x2019;s total enterprise value
(computed by multiplying the number of outstanding shares of the
Employer&amp;#x2019;s common stock on a fully diluted (taking into
account only those stock options that are in-the-money on such
date), as-converted basis by the average daily trading price for
the Company&amp;#x2019;s common stock for the thirty (30) trading day
period immediately preceding the date of determination) equals or
exceeds $100 million; and (iii) one third (1/3) shall vest
immediately if on any date during the Measurement Period the
Company&amp;#x2019;s total enterprise value (calculated as set forth in
clause (ii) above) equals or exceeds $200 million; provided ,
however , that all unvested shares of restricted common stock shall
vest immediately upon the sale of all or substantially all of the
assets of the Company, upon the merger or reorganization of the
Company following which the equity holders of the Company
immediately prior to the consummation of such merger or
reorganization collectively own less than 50% of the voting power
of the resulting entity, or upon the sale of equity securities of
the Company representing 50% or more of the voting power of the
Company or 50% or more of the economic interest in the Company in a
single transaction or in a series of related transactions (i.e., a
&amp;#x201C;Change of Control&amp;#x201D;). All shares shall be subject to a
one (1) year lock-up following the vesting of such shares.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Additional Performance Bonuses:&amp;#xA0; Mr. Ellin shall be
entitled to payment of (i) a performance bonus equal to $1.5
million in cash or registered and freely tradable stock of the
Company, at Mr. Ellin&amp;#x2019;s choice, if, on any date during the
Measurement Period the Company&amp;#x2019;s total enterprise value
(calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $150 million; and (ii) payment of a performance bonus equal
to $3.3 million in cash or registered and freely tradable stock of
the Company, at Mr.&amp;#xA0; Ellin&amp;#x2019;s choice, if, on any date
during the Measurement Period, the Company&amp;#x2019;s total enterprise
value (calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $1 billion. Any bonus payable under this subsection (f)
shall vest upon the achievement of the specified criteria and shall
be paid on or within thirty (30) days of such vesting date.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Litigation&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Twistbox&amp;#x2019;s wholly owned subsidiary, WAAT Media Corp.
(&amp;#x201C;WAAT&amp;#x201D;) and General Media Communications, Inc.
(&amp;#x201C;GMCI&amp;#x201D;) were parties to a content license agreement
dated May 30, 2006, whereby GMCI granted to WAAT certain exclusive
rights to exploit GMCI branded content via mobile devices. GMCI
terminated the agreement on January 26, 2009 based on its claim
that WAAT failed to cure a material breach pertaining to the
non-payment of a minimum royalty guarantee installment in the
amount of $485. On or about March 16, 2009, GMCI filed a complaint
seeking the balance of the minimum guarantee payments due under the
agreement in the approximate amount of $4,085. WAAT counter-sued
claiming GMCI was not entitled to the claimed amount and that it
had breached the agreement by, among other things, failing to
promote, market and advertise the mobile services as required under
the agreement and by fraudulently inducing WAAT to enter into the
agreement based on GMCI&amp;#x2019;s repeated assurances of its
intention to reinvigorate its flagship brand. GMCI filed a demurrer
to the counter-claim. WAAT subsequently filed an amended
counter-claim. On August 16, 2011, the LA Superior Court ruled in
favor of WAAT&amp;#x2019;s Summary Judgment Motion. As a result,
GMCI&amp;#x2019;s potential damages were limited to the amount of
minimum royalty installments that accrued prior to termination of
the content license agreement in the amount of approximately $800.
Trial had been scheduled for April 16, 2012, however on December
22, 2011 the parties agreed to a settlement of $300 in favor of
GMCI, pursuant to which WAAT will be required to pay GMCI $300 over
a 30 month period, beginning December 28, 2011. As of March 31,
2012 the Company has accrued $260, which is included in Accounts
Payable on the balance sheet.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
March 6, 2012 the Company received a notice of levy in the amount
of $73 pertaining to a dispute with a service provider. The Company
has recorded the full amount in Accounts Payable on the
consolidated balance sheet.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On May
4, 2012 the Company received notice of a judgment in the amount of
&amp;#xA3;23 pertaining to a dispute with a previous employee. The
Company has recorded the full amount in Accrued Compensation on the
consolidated balance sheet.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company is subject to various claims and legal proceedings arising
in the normal course of business. Based on the opinion of the
Company&amp;#x2019;s legal counsel, management believes that the
ultimate liability, if any in the aggregate of other claims will
not be material to the financial position or results of operations
of the Company for any future period; and no liability has been
accrued.&lt;/p&gt;
&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:SegmentReportingDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_D721B1C4-6659-41C6-8E22-803B7F2263F6_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;15.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Segment and Geographic information&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company operates in one reportable segment in which it is a
developer and publisher of branded entertainment content for mobile
phones. Revenues are attributed to geographic areas based on the
country in which the carrier&amp;#x2019;s principal operations are
located. The Company attributes its long-lived assets, which
primarily consist of property and equipment, to a country primarily
based on the physical location of the assets. Goodwill and
intangibles are not included in this allocation. The following
information sets forth geographic information on our sales and net
property and equipment for the period ended March 31, 2012:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;North&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Other&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;America&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Europe&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Regions&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Consolidated&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Twelve Months ended March 31, 2012&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 44%"&gt;Net
sales to unaffiliated customers&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;215&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;4,977&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;2,038&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;7,230&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Property and equipment, net&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt"&gt;at March 31, 2012&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;177&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;52&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;230&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;North&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Other&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;America&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Europe&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Regions&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Consolidated&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Twelve Months ended March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 44%"&gt;Net
sales to unaffiliated customers&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;688&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;6,819&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,679&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 2%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;9,186&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Property and equipment, net&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt"&gt;at March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;322&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;65&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;388&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Our
largest customer accounted for 41% of gross revenues in the year
ended March 31, 2012; and 49%&amp;#xA0;in the year ended March 31,
2011.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <us-gaap:IncomeLossFromContinuingOperations contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_25">-30707000</us-gaap:IncomeLossFromContinuingOperations>
  <us-gaap:PaymentsForProceedsFromProductiveAssets contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_29">17000</us-gaap:PaymentsForProceedsFromProductiveAssets>
  <us-gaap:DebtDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_17BB3EB3-C294-44BE-838B-2FE8C1C58B7D_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;10.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
Debt&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-STYLE: italic; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-WEIGHT: bold"&gt;Short
Term Debt&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 74%"&gt;Note Payable&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;100&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Equipment Leases and accrued interest
on debt&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;15&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Senior secured note, short term
accrued interest&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;73&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;66&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Secured Note,
short term accrued interest&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
92&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
75&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
273&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-WEIGHT: bold"&gt;Long Term
Debt&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt; WIDTH: 74%"&gt;
Senior secured note, including PIK interest, net of discount, of
$1,020 and $1,856, respectively&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,881&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;776&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt"&gt;
Convertible note, including accrued interest, net of discount, of
$1,132 and $0, respectively&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt"&gt;
Secured note, including PIK interest&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,136&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,685&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
3,077&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
4,461&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Convertible Debt&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 29, 2011, the Company sold and issued $7,000 of
subordinated short term convertible notes (the &amp;#x201C;New
Convertible Note&amp;#x201D;). The New Convertible Note is subordinated
to the New Senior Secured Notes. The New Convertible Note bears
interest at a rate of 3% per annum payable at the time of
conversion. The term of the New Convertible Note is the earlier of
(i) the date of the Company&amp;#x2019;s next equity financing round or
(ii) the date that is one year following the date of the New
Convertible Note. The New Convertible Note will automatically
convert into shares of the Company&amp;#x2019;s common stock one year
from the date of the New Convertible Note at a conversion price
equal to (x) if in connection with a next equity financing round, a
25% discount to the actual or implied stock price in such financing
or (y) if the Company does not complete the next equity financing
round within one year of the date of the New Convertible Note, at
75% of the average trading price of the Company&amp;#x2019;s common
stock for the 30-day period immediately prior to conversion. In no
event shall the conversion price be less than $0.50.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
purchaser of the New Convertible Note also received a warrant
(&amp;#x201C;Convertible Note Warrant&amp;#x201D;) to purchase shares of
common stock of the Company. The number of shares which may be
purchased under the Convertible Note Warrant is equal to an amount
calculated by multiplying 25% by the quotient obtained by dividing
the amount of the principal under the New Convertible Note
outstanding immediately prior to conversion by the conversion
price. The conversion price is to be determined based on a
qualified event or one year with an exercise price of no less than
$0.50 per share. The Convertible Note Warrant has a five year term
and the issuer can require conversion of the Convertible Note
Warrant if (i) the common stock of issuer is traded on NASDAQ (or
other national stock exchange); (ii) for at least (60) consecutive
days at a price equal to or greater than 150% of the Conversion
Price, and (iii) the common stock has traded with an average daily
volume of at least 200,000 shares. The Convertible Note Warrant was
initially recorded as a derivative liability upon issuance. As
discussed in Note 12, the Company received a waiver from the Senior
Secured Convertible note holders on March 26, 2012 which allowed
the Company to reclassify the Convertible Note Warrant from a
derivative liability to additional paid-in capital.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company determined that the New Convertible Note has an embedded
conversion feature that is required to be bifurcated and measured
at fair value at each reporting. At the date of issuance, the fair
value of the embedded conversion feature and the Convertible Note
Warrant of the New Convertible Note was $6,078 using the
Black-Scholes option pricing model with the following
assumptions:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Expected life of 1 year&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Risk free interest rate of .12%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Dividend yield of 0%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Volatility of 175%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company determined the fair value of the Convertible Note
Warrants to be $2,177, using the Black-Scholes option pricing model
with the following assumptions:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Expected life of 5 years&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Risk free interest rate of .88%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Dividend yield of 0%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Volatility of 175%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
The combined total discount pertaining to the conversion feature of
the New Convertible Note and the Convertible Note Warrant was
originally limited to the face value of the New Convertible Note of
$7,000 and is being amortized over the term of the New Convertible
Note, with the $1,255 fair value that exceeded the face value being
charged to operations as interest expense.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
On March 1, 2012, the Company amended the New Convertible Note
including the following amendments:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;The conversion price was amended to
$0.70 for the entire principal and all accrued and unpaid
interest.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol"&gt;
&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;The warrants to become exercisable
as of March 1, 2012. Previously the warrants could only be
exercised by the holder on or after the date on which the common
stock had traded on NASDAQ (or any other nationally recognized
securities exchange) at a price equal to or greater than the
conversion price for a period of 60 consecutive trading days with
an average daily volume of at least 200,000 shares.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;The warrant exercise price was
amended to $0.70.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
March 1, 2012, the entire amount of the New Convertible Note of
$7,000 including accrued interest of $37 was converted into 10,053
shares based on an agreed upon conversion rate of $0.70. The
Company assessed the debt modification for the New Convertible Note
and determined that it met the requirements for extinguishment
accounting per FASB ASC 470 and accordingly, recorded a gain on
extinguishment of debt of $2,117 for the year ended March 31,
2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company had recorded a debt discount based on the fair value of the
Convertible Note Warrant and the embedded conversion feature. Due
to the conversion of the New Convertible Note, the Company expensed
the $7,000 debt discount to interest expense.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;ValueAct Note&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As
described in Note 8, in connection with the disposal of AMV on June
21, 2010, all amounts due and payable under the AMV Note were
released, and the ValueAct Note was amended and restated in its
entirety and reduced to $3,500 of principal (the &amp;#x201C;Amended
ValueAct Note&amp;#x201D;).&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 16, 2011, the ValueAct Note was purchased in its entirety
by Taja LLC (&amp;#x201C;Taja) and was amended to remove certain
negative covenants from the Note (the &amp;#x201C;Amended Taja
Note&amp;#x201D;). The Purchase of the ValueAct Note was independent of
the Company, and the Company did not receive or pay out any cash
related to this transaction.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 29, 2011, the Company and Taja entered into a binding term
sheet for convertible note financing (&amp;#x201C;Taja Convertible
Note&amp;#x201D;) and effectively a third amendment to the Second
Amended Note (&amp;#x201C;Third Amended Note&amp;#x201D;). The Taja
Convertible Note became effective on February 27, 2012. The Third
Amended Note (1) changed the maturity date from June 21, 2013 to
June 21, 2015, (2) extended the payment in kind (&amp;#x201C;PIK&amp;#x201D;)
election to the note through the revised term, and (3) stripped out
$3,000 of principal to create the Taja Convertible Note, leaving a
principal balance of $500 plus accrued interest of $562 for a total
of $1,062. As consideration for amending the note, Taja also
received a warrant (&amp;#x201C;Incentive Warrant&amp;#x201D;) to purchase
2,000 shares of common stock of the Company at an exercise price of
$0.25 per share, subject to adjustment. Taja also received 25%
warrant coverage (&amp;#x201C;Coverage Warrant&amp;#x201D;) determined by
dividing the principal amount of the Taja Convertible Note by the
conversion price multiplied by 25%. The Incentive Warrant and the
Coverage Warrant have a five year term and vest one year from issue
date. The Coverage Warrant was initially recorded as a derivative
liability upon issuance. As discussed in Note 12, the Company
received a waiver from the Senior Secured Convertible note holders
on March 26, 2012 which allowed the Company to reclassify the
Convertible Note Warrant from a derivative liability to additional
paid-in capital. The Company assessed the debt modification for the
Third Amended Note and determined that it met the requirements for
extinguishment accounting per FASB ASC 470 and accordingly,
recorded a loss on extinguishment of debt of $1,459 for the year
ended March 31, 2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
March 1, 2012, the Company and Taja entered into a second binding
term sheet (&amp;#x201C;Amended Taja Convertible Note&amp;#x201D;) to amend
certain provisions of the December 29, 2011 binding term sheet (1)
the maturity date was revised to March 1, 2014, (2) the conversion
price was amended to $0.70 share, (3) conversion of the note must
not cause the holder to exceed 4.9% ownership, except that on the
maturity date the entire remaining amount of principle and interest
shall automatically convert into shares of common stock of the
Company (4) the Amended Taja Convertible Note becomes accelerated
and immediately due and payable upon the consummation by the
Company of one or more equity sales from and after March 1, 2012
resulting in aggregate net proceeds of at least $10,000, (5) the
conversion date is to occur the earlier of (x) the date that the
long-form documents are executed and delivered to all parties, and
(y) March 19, 2012, (6) the 2,000 Incentive Warrants issued as
consideration for the Third Amended Note were amended to vest and
be exercisable one year from March 1, 2012, (7) the exercise date
of the Coverage Warrants was amended to one year following the
conversion date, and (8) the term sheet was binding on the parties
and their respective successors and assigns regardless of whether
the parties execute long form agreements, as opposed to the
previous term sheet that contemplated going to long form
agreements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company determined that the Amended Taja Convertible Note has an
embedded conversion feature that is required to be bifurcated and
measured at fair value at each reporting. At the date of issuance,
the fair value of the embedded conversion feature was $2,250 using
the Black-Scholes option pricing model with the following
assumptions:&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Expected life of 1 years&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Risk free interest rate of .17%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Dividend yield of 0%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Volatility of 175%.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company determined the fair value of the Coverage Warrant and the
Incentive Warrant to be $750 and $1,459, respectively, using the
Black-Scholes option pricing model with the following
assumptions:&lt;/p&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Expected life of 5 years&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Risk free interest rate of .84%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Dividend yield of 0%&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;/td&gt;
&lt;td style="WIDTH: 0.25in"&gt;&lt;font style="FONT-FAMILY: Symbol"&gt;&amp;#xB7;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;Volatility of 175%.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
combined total discount pertaining to the conversion factor of the
Taja Convertible Note and the Coverage warrant was originally
limited to the face value of the Taja Convertible Note of $3,000
and is being amortized over the term, with the $837 fair value of
the embedded conversion feature that exceeded the face value being
charged to operations as interest expense.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
March 19, 2012, the Company issued 2,600 shares of its common stock
to Taja for the conversion of $1,820 of the Amended Taja
Convertible Note. The Company expensed to interest expense the debt
discount on a pro rata basis of the amount converted to the
original debt amount to reflect the conversion of the $1,820.
During the year ended March 31, 2012, the Company recorded interest
expense of $1,873 related to the amortization of the debt discount.
The remaining discount of $1,127 will be amortized over the period
ending March 1, 2014. The Company assessed the conversion of $1,820
and determined that it met the requirements for extinguishment
accounting per FASB ASC 470 and accordingly, recorded a gain on
extinguishment of debt of $1,346 for the year ended March 31,
2012.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, the $1,180 outstanding principal balance is
convertible into approximately 1,686,000 shares of common stock at
a conversion price of $0.70. At March 31, 2012, the if-converted
value exceeds the principal by approximately $405.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Senior Secured Convertible Notes&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On June
21, 2010, for purposes of capitalizing the Company, the Company
sold and issued $2,500 of Senior Secured Convertible Notes due June
21, 2013 of the Company (the &amp;#x201C;New Senior Secured
Notes&amp;#x201D;) to certain of the Company&amp;#x2019;s significant
stockholders.&amp;#xA0;&amp;#xA0;The New Senior Secured Notes have a three
year term and bear interest at a rate of 10% per annum payable in
arrears semi-annually. The entire principal balance is due in one
lump sum payment on June 21, 2013. Notwithstanding the foregoing,
at any time on or prior to the 18th month following the original
issue date of the New Senior Secured Notes, the Company may, at its
option, in lieu of making any cash payment of interest, elect that
the amount of any interest due and payable on any interest payment
date on or prior to the 18th month following the original issue
date of the New Senior Secured Notes be added to the principal due
under the New Senior Secured Notes. The accrued and unpaid
principal and interest due on the New Senior Secured Notes are
convertible at any time at the election of the holder into shares
of common stock of the Company at a conversion price of $0.15 per
share, subject to adjustment. The New Senior Secured Notes are
secured by a first lien on substantially all of the assets of the
Company and its subsidiaries pursuant to the terms of that certain
Guarantee and Security Agreement, dated as of June 21, 2010, among
Twistbox, the Company, each of the subsidiaries thereof party
thereto, the investors party thereto and Trinad Management. The
Amended ValueAct Note is subordinated to the New Senior Secured
Notes pursuant to the terms of that certain Subordination
Agreement, dated as of June 21, 2010, by and between Trinad Capital
Master Fund, and ValueAct, and each of the Company and
Twistbox.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Each
purchaser of a New Senior Secured Note also received a warrant
(&amp;#x201C;Warrant&amp;#x201D;) to purchase shares of common stock of the
Company at an exercise price of $0.25 per share, subject to
adjustment.&amp;#xA0;&amp;#xA0;For each $1 of New Senior Secured Notes
purchased, the purchaser received a Warrant to purchase 3.33 shares
of common stock of the Company.&amp;#xA0;&amp;#xA0;Each Warrant has a five
year term.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Warrants granted to the New Senior Secured Note holders on June 21,
2010 and conversion feature in the New Senior Secured Notes are not
considered derivative instruments since the Warrants and the New
Senior Secured Notes have a set conversion price and all of the
requirements for equity classification were met. The Company
determined the fair value of the detachable warrants issued in
connection with the New Senior Secured Notes to be $1,678, using
the Black-Scholes option pricing model and the following
assumptions:&amp;#xA0;&amp;#xA0;expected life of&amp;#xA0;5 years, a risk free
interest rate of&amp;#xA0;2.05%, a dividend yield of 0% and volatility
of&amp;#xA0;54.62%. In addition, the Company determined the value of
the beneficial conversion feature to be $5,833. The combined total
discount for the New Senior Secured Notes&amp;#xA0;is&amp;#xA0;limited to
the face value of the New Senior Secured Notes&amp;#xA0;of $2,500 and
is being amortized over the term of the New Senior Secured Notes.
For the year ended March 31, 2012, the Company amortized $835 of
the aforesaid discounts as interest and financing costs in the
accompanying consolidated statements of operations. The remaining
discount of $1,020 will be amortized over the period ending June
21, 2013.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, the $2,974 outstanding principal and accrued
interest is convertible into approximately 19,827 shares of common
stock at a conversion price of $0.15. At March 31, 2012, the
if-converted value exceeds the principal and accrued interest by
approximately $474.&lt;/p&gt;
&lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_27">-1829000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:ComprehensiveIncomeNetOfTax contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_33">-30610000</us-gaap:ComprehensiveIncomeNetOfTax>
  <us-gaap:LicenseCosts contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_2">2643000</us-gaap:LicenseCosts>
  <us-gaap:AmortizationOfDebtDiscountPremium contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_5">9709000</us-gaap:AmortizationOfDebtDiscountPremium>
  <us-gaap:LiquidityDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_5A0E3385-24BD-4036-B7F6-CD8B1C15F51E_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 5%"&gt;&lt;b&gt;2.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: justify; WIDTH: 94%"&gt;&lt;b&gt;Liquidity&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
accompanying consolidated financial statements have been prepared
in conformity with accounting principles generally accepted in the
United States of America. As reflected in the accompanying
consolidated financial statements, the Company has losses from
operations and negative cash flows from operations.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
primary sources of liquidity have historically been issuance of
common and preferred stock and borrowings under credit facilities.
In fiscal year 2012, the Company raised $9.7 million through
issuance of convertible debt and equity financings and through
restructuring existing debt to convertible debt. Until we become
cash flow positive, we anticipate that our primary sources of
liquidity will be cash generated by our operating activities, as
well as further borrowings or further capital raises. Assuming
there are no further changes in expected sales and expense trends
subsequent to March 31, 2012, the Company believes that its cash
position will be sufficient to continue operations for the
foreseeable next twelve months.&lt;/p&gt;
&lt;/div&gt;</us-gaap:LiquidityDisclosureTextBlock>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_23">-30597000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:SubsequentEventsTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_E675522A-1C0C-4843-9A20-9DC52CCBC220_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;17.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Subsequent Events&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As
previously reported on a Current Report on Form 8-K filed March 23,
2012, on February 22, 2012, the Company received notice from the
OTC Bulletin Board (OTC BB) that its common stock would be removed
from OTC BB under NASD Rule 6530(e), under which any OTC BB issuer
that is delinquent in its reporting obligations three times in a
24-month period is ineligible for quotation on the OTC BB for a
period of one year. The Company requested and received a hearing to
review the OTC BB&apos;s determination, which occurred on April 2, 2012
before the Financial Industry Regulatory Authority (FINRA). On May
16, 2012, the Company received notice of decision from FINRA that
the Company&amp;#x2019;s securities are not eligible for continued
quotation on the OTC BB and would be promptly removed from the OTC
BB. The Company believes that while it is seeking a long term
solution to enhanced stockholder liquidity, its common stock will
continue to be traded in other over the counter markets under its
same ticker symbol (MNDL or MNDLE), such as the OTC Market&apos;s OTC QB
(accessed through &lt;u&gt;www.otcmarkets.com&lt;/u&gt;, but not incorporated
by reference herein). Although there are no guarantees of success,
the Company is actively pursuing appropriate steps to ensure the
long term liquidity of the Company&apos;s common stock, including
seeking listing on a national securities exchange.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
April 12, 2012, the Company entered into a Separation and General
Release Agreement with Mr. David Mandell, Executive Vice President
and General Counsel of Mandalay Digital Group, Inc.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On May
6, 2012, the Board of Directors of the Company elected Mr.
Christopher Rogers as a director.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As
previously reported on a Current Report on Form 8-K filed May, 30,
2012, on May 18, 2012 the Company entered into amendments to the
restricted stock agreements governing grants of shares of
restricted common stock made to Mr. Peter Adderton, chief executive
officer, and Mr. Robert Ellin, executive chairman, the original
details of which were previously disclosed on the Company&amp;#x2019;s
Current Report on Form 8-K filed on January 4, 2012. These
amendments clarified that the holders of such shares have all
rights of a stockholder with respect to those shares (vested or
unvested), including voting and dividend rights, subject to the
restrictions and forfeiture provisions of the restricted stock
agreements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On May
23, 2012, the Company received the written consent from
stockholders holding a majority of its outstanding common stock to
permit (but not require) the Board of Directors of the Company to
amend its Amended and Restated Certificate of Incorporation to (i)
effect a reverse stock split of the Company&amp;#x2019;s common stock at
any time prior to April 26, 2013, by a ratio of not less than
one-for-two and not more than one-for-ten, with the exact ratio to
be set at a whole number within this range as determined by the
Board of Directors in its sole discretion (the &amp;#x201C;Reverse Stock
Split&amp;#x201D;) and (ii) to increase the number of authorized shares
of the Company&amp;#x2019;s capital stock to 202,000,000 shares of
stock, of which 200,000,000 shares would be classified as Company
common stock and 2,000,000 shares would be classified as Company
preferred stock (the &amp;#x201C;Authorized Stock Increase&amp;#x201D;). In
addition, such stockholders, pursuant to the written consent, also
approved the Company&amp;#x2019;s Amended and Restated 2011 Equity
Incentive Plan of the Company, and related forms of Equity
Incentive Plan Notice of Grant Restricted Stock Agreement, and
Notice of Grant and Stock Option Agreement (the &amp;#x201C;Plan
Approval&amp;#x201D;).&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On June
7, 2012, the Company entered into an Equity Financing Binding Term
Sheet, with an accredited investor, pursuant to which the Company
agreed to issue an aggregate of 1,428,571 shares of its common
stock and warrants to purchase 357,142 shares of its common stock
(subject to adjustment), for an aggregate purchase price of
$1,000,000. The warrants have an exercise price of $0.70 per share
(subject to adjustment) and a five year term. In addition, the
Equity Agreement provides that (a) the Company will use its best
efforts to file a registration statement covering the shares of
common stock issued and the shares of common stock issuable upon
exercise of the warrants within 120 calendar days after the date of
the Equity Agreements and use its best efforts to cause the
registration statement to become effective as soon as possible
thereafter; and (b) the applicable investor will have a right to
participate in future financings by the Company (subject to
standard exceptions) for a period of two years on a pro rata basis
in accordance with his ownership interests in the Company (on a
fully diluted basis assuming exercise of the applicable
warrant).&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
June, 7, 2012, Adage Capital Partners, LP agreed that it would not
to abstain from exercising its warrant to purchase 2,500,000 shares
of common stock, issued December 29, 2011, as amended March 1,
2012, until informed in writing by the Company that the Company has
increased its authorized capital sufficiently so that exercise can
be effectuated without the Company being in an over-issuance
position with respect to the shares underlying such warrants.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
June, 7, 2012, TAJA, LLC agreed that it would abstain from
exercising the following warrants and convertible note, until
informed in writing by the Company that the Company has increased
its authorized capital sufficiently so that exercise can be
effectuated without the Company being in an over-issuance position
with respect to the shares underlying such warrants and note: (1)
Warrant to Purchase 1,071,429 shares of Common Stock, issued
December 29, 2011, as amended on March 1, 2012; (2) Warrant to
Purchase 2,000,000 shares of Common Stock issued December 29 ,2011
as amended on March 1, 2012; (3) Unsecured Subordinated Convertible
Note, due June 21, 2015, in the original principal amount of
$3,000,000.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
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  <us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_9B852189-23CB-4526-8468-328759E63C13_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;13.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Employee Benefit Plans&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company has an employee 401(k) savings plan covering full-time
eligible employees.&amp;#xA0;&amp;#xA0;These employees may contribute
eligible compensation up to the annual IRS limit. The Company does
not make matching contributions.&lt;/p&gt;
&lt;/div&gt;</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
  <us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD_per_shares" decimals="2" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_35">-0.62</us-gaap:IncomeLossFromContinuingOperationsPerBasicAndDilutedShare>
  <us-gaap:NetIncomeLoss contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_30">-30707000</us-gaap:NetIncomeLoss>
  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_B7F0C2F6-92BA-40BE-BA7A-3A4AED783FC3_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;5.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Accounts Receivable&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 74%"&gt;Billed&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;709&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,523&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Unbilled&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;589&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,272&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Less: allowance
for doubtful accounts&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(108&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(96&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Net Accounts
receivable&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1,190&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
2,699&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Net Accounts
receivable of discontinued operations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;The Company had no significant write-offs or recoveries
during the years ended March 31, 2012 and March 31, 2011.&lt;/p&gt;
&lt;/div&gt;</us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock>
  <us-gaap:NonoperatingIncomeExpense contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_22">-13626000</us-gaap:NonoperatingIncomeExpense>
  <us-gaap:ResearchAndDevelopmentExpense contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_7">2154000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_18">-4447000</us-gaap:IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments>
  <us-gaap:CostOfRevenue contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_4">2873000</us-gaap:CostOfRevenue>
  <us-gaap:InterestIncomeExpenseNonoperatingNet contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_16">-12497000</us-gaap:InterestIncomeExpenseNonoperatingNet>
  <us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_11">2319000</us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill>
  <us-gaap:NatureOfOperations contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_1155C3CE-43F4-4B64-8046-EA1C619FBC37_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;1.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Organization&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Mandalay Digital Group, Inc. (&amp;#x201C;we&amp;#x201D;, &amp;#x201C;us&amp;#x201D;,
&amp;#x201C;our&amp;#x201D;, the &amp;#x201C;Company&amp;#x201D; or &amp;#x201C;Mandalay
Digital&amp;#x201D;), formerly NeuMedia, Inc. (&amp;#x201C;NeuMedia&amp;#x201D;),
formerly Mandalay Media, Inc. (&amp;#x201C;Mandalay Media&amp;#x201D;) and
formerly Mediavest, Inc. (&amp;#x201C;Mediavest&amp;#x201D;), was originally
incorporated in the state of Delaware on November 6, 1998 under the
name eB2B Commerce, Inc. On April 27, 2000, it merged into
DynamicWeb Enterprises Inc., a New Jersey corporation, the
surviving company, and changed its name to eB2B Commerce, Inc. On
April 13, 2005, the Company changed its name to Mediavest,
Inc.&amp;#xA0;&amp;#xA0;Through January 26, 2005, the Company and its
former subsidiaries were engaged in providing business-to-business
transaction management services designed to simplify trading
between buyers and suppliers. The Company was inactive from January
26, 2005 until its merger with Twistbox Entertainment, Inc.,
February 12, 2008.&amp;#xA0;&amp;#xA0;On September 14, 2007, Mediavest was
re-incorporated in the state of Delaware as Mandalay Media, Inc. On
May 11, 2010 the Company merged with a wholly-owned, newly formed
subsidiary, changing its name to NeuMedia, Inc. On February 6,
2012, the Company merged with a wholly-owned, newly formed
subsidiary, changing its name to Mandalay Digital Group, Inc.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Twistbox is a global publisher and distributor of branded
entertainment content and services primarily focused on enabling
the development, distribution and billing of content across mobile
networks.&amp;#xA0;&amp;#xA0;Twistbox publishes and distributes its content
in a number of countries.&amp;#xA0;&amp;#xA0;Since operations began in
2003, Twistbox has developed an intellectual property portfolio
that includes mobile rights to global brands and content from film,
television and lifestyle media companies. Twistbox has built a
proprietary mobile publishing platform that includes: tools that
automate device management for the distribution and billing of
images and video; a mobile games development and distribution
platform that automates the porting of mobile games and
applications to multiple handsets; and a content standards and
ratings system globally adopted by major wireless carriers to
assist with the responsible deployment of age-verified
content.&amp;#xA0;&amp;#xA0;Twistbox has distribution and service
agreements with many of the largest mobile operators in the
world.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Twistbox is headquartered in the Los Angeles area and has offices
in Europe that provide local sales and marketing support for both
mobile operators and third party distribution in their respective
regions.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
October 23, 2008 the Company completed an acquisition of 100% of
the issued and outstanding share capital of AMV Holding Limited, a
United Kingdom private limited company (&amp;#x201C;AMV&amp;#x201D;), and 80%
of the issued and outstanding share capital of Fierce Media Ltd
(&amp;#x201C;Fierce&amp;#x201D;).&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;AMV is
a leading mobile media and marketing company delivering games and
lifestyle content directly to consumers in the United Kingdom,
Australia, South Africa and various other European countries. AMV
markets its well established branded services through a unique
Customer Relationship Management platform that drives revenue
through mobile internet, print and TV advertising. AMV is
headquartered in Marlow, outside of London in the United
Kingdom.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On May
10, 2010, an administrator was appointed over AMV Holding Limited
in the UK, at the request of the Company&amp;#x2019;s senior debt
holder. As from that date, AMV and its subsidiaries&amp;#xA0;are
considered to be a discontinued operation. AMV and its subsidiaries
were subsequently disposed, as set out in Note 8 below.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On May
11, 2010, Mandalay Media merged into its wholly-owned, newly formed
subsidiary, NeuMedia Inc. (&amp;#x201C;NeuMedia&amp;#x201D;), with NeuMedia
as the surviving corporation. NeuMedia issued: (1) one new share of
common stock&amp;#xA0;in exchange for each share of Mandalay
Media&amp;#x2019;s outstanding common stock and (2) one new share of
preferred stock&amp;#xA0;in exchange for each share of Mandalay
Media&amp;#x2019;s outstanding preferred stock as of May 11, 2010.
NeuMedia&amp;#x2019;s preferred and common stock&amp;#xA0;had the same
status and par value as the respective stock of Mandalay Media and
NeuMedia acceded to all the rights, acquired all the assets and
assumed all of the liabilities of Mandalay Media.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On June
21, 2010, the Company signed and closed an agreement whereby
ValueAct and the AMV Founders, acting through a newly formed
company, acquired the operating subsidiaries of AMV (the
&amp;#x201C;Assets&amp;#x201D;) in exchange for the release of $23,231 of
secured indebtedness, comprising of a release of all amounts due
and payable under the AMV Note and all of the amounts due and
payable under the ValueAct Note (as defined below) except for
$3,500 in principal. The Company retained all assets and
liabilities of Twistbox and the Company other than the Assets. See
Note 8 for further discussion on the discontinued operations.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
December 28, 2011, the Company issued 50,000 shares of the
Company&amp;#x2019;s common stock as part of the consideration for in
exchange for the assets of Digital Turbine Group, LLC, the
developer of Digital Turbine (&amp;#x201C;DT&amp;#x201D;), a technology
platform that allows media companies, mobile carriers, and their
OEM handset partners to take advantage of multiple mobile operating
systems across multiple networks, and offers solutions that allow
them to maintain their own branding and personalized, one-to-one
relationships with each end-user. DT&amp;#x2019;s cross-platform user
interface and multimedia management system for carriers and OEMs
can be integrated with different operating systems to provide a
more organized and unified experience for end-users of mobile
content across search, discovery, billing, and delivery. Other
aspects of the platform, such as a smart content discovery toolbar,
allows carriers and OEMs to control the data presented to their
users while giving the end-user a more efficient way of finding and
purchasing the desired content.&lt;/p&gt;
&lt;/div&gt;</us-gaap:NatureOfOperations>
  <us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_19">2004000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_4">429000</us-gaap:DepreciationAndAmortization>
  <us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_6A79EC4E-75C1-47AE-A40A-255A4C076CEA_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;9.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Goodwill and Intangible Assets&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;b&gt;Goodwill&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;A
reconciliation of the changes to the Company&apos;s carrying amount of
goodwill for the years ended March 31, 2012 and 2011 was as
follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 87%"&gt;Balance at March 31, 2010&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;8,155&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Goodwill
impairment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(1,546&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Balance at March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,609&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Goodwill
impairment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,969&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Balance at March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,640&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Fair
value is defined under ASC 820, Fair Value Measurements and
Disclosures as, &amp;#x201C;The price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date&amp;#x201D;. The
Company considered the income and market approaches to derive an
opinion of value. Under the income approach, the Company utilized
the discounted cash flow method, and under the market approach,
consideration was given to the guideline public company method, the
merger and acquisition method, and the market capitalization
method.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As a
result of the assessment, the Company determined that its net book
value exceeded the implied fair value; and recorded an impairment
charge of $2,969 for the year ended March 31, 2012 and $1,546 for
the year ended March 31, 2011 to write down goodwill. The
impairment charge is included &amp;#x201C;Impairment of goodwill and
intangible assets&amp;#x201D; within operating expenses in the
statements of operations.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Intangible Assets&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;A
reconciliation of the changes to the Company&apos;s carrying amount of
intangible assets for the years ended March 31, 2012 and 2011 was
as follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 75%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Amortizable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Unamortizable&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Total&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;
Intangible&amp;#xA0;Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;
Intangible&amp;#xA0;Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;
Intangible&amp;#xA0;Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 61%"&gt;Balance at March 31, 2010&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,704&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;6,491&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;8,195&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Amortization&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(347&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(347&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Impairment of intangibles&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(464&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(4,018&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(4,482&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Balance at March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;893&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,473&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,366&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Amortization&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(230&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(230&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Impairment of intangibles&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,319&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,319&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Balance at March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
663&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
154&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
817&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company performed its annual review of the fair value of intangible
assets in the fourth quarter of fiscal 2012. The Company considered
the income and market approaches to derive an opinion of value. As
a result of the assessment, the Company determined that its net
book value exceeded the implied fair value; and recorded an
impairment charge of $2,319 for the year ended March 31, 2012 and
$4,018 for the year ended March 31, 2011 to write down intangible
assets. The impairment charge is included &amp;#x201C;Impairment of
goodwill and intangible assets&amp;#x201D; within operating expenses in
the statements of operations.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
components of intangible assets as at March 31, 2011 and 2012 were
as follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"&gt;As&amp;#xA0;of&amp;#xA0;March&amp;#xA0;31,&amp;#xA0;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Accumulated&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Cost&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Amortization&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Net&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 61%"&gt;Software&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,611&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;(948&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;663&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Trade name / Trademark&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;154&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;154&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Customer list&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,220&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(1,220&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;License
agreements&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
443&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(443&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,428&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,611&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
817&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10"&gt;As&amp;#xA0;of&amp;#xA0;March&amp;#xA0;31,&amp;#xA0;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Accumulated&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Cost&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Amortization&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Net&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 61%"&gt;Software&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,611&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;(718&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;)&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;893&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Trade name / Trademark&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,473&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2,473&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Customer list&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,220&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(1,220&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;License
agreements&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
443&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(443&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(0&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
5,747&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
(2,381&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
3,366&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company has included amortization of acquired intangible assets
directly attributable to revenue-generating activities in cost of
revenues. The Company has included amortization of acquired
intangible assets not directly attributable to revenue-generating
activities in operating expenses. During the years ended March 31,
2012 and 2011, the Company recorded amortization expense for
continuing operations&amp;#xA0;in the amount of $230 and $295,
respectively, in cost of revenues; and amortization expense in the
amount of $0 and $54 respectively, in operating expenses. During
the years ended March 31, 2012 and 2011 the Company recorded
amortization expense for discontinued operations in the amount of
$0 and $26, respectively, in cost of revenues; and amortization
expense in the amount of $0 and $40, respectively, in operating
expenses.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Based
on the amortizable intangible assets as of March 31, 2012, we
estimate amortization expense for the next five years to be as
follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left" colspan="2"&gt;Amortization&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid" colspan="2"&gt;Year Ending
March 31,&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left" colspan="2"&gt;Expense&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left" colspan="2"&gt;(in thousands)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 80%"&gt;2013&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%"&gt;232&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2014&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;232&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;2015&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
199&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
663&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;Below is a summary impairment of Goodwill and Intangible
assets:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Intangible&lt;br /&gt;
Assets&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Goodwill&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 74%"&gt;Balance as of March 31,
2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"&gt;
9,676&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%"&gt;
53,066&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Impairment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
4,482&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1,546&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Balance as of March 31, 2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
14,158&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
54,612&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Impairment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,319&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
2,969&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Balance as of March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
16,477&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
57,581&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_14">-16971000</us-gaap:OperatingIncomeLoss>
  <us-gaap:ForeignCurrencyTransactionGainLossBeforeTax contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_17">-94000</us-gaap:ForeignCurrencyTransactionGainLossBeforeTax>
  <us-gaap:IncreaseDecreaseInAccountsPayable contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_23">637000</us-gaap:IncreaseDecreaseInAccountsPayable>
  <us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_4330621C-8994-4EA3-BDDA-E994116DB5BF_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;8.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Discontinued Operations&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;The Company had been negotiating a restructuring of debt with
its senior debt holder for some time.&amp;#xA0;&amp;#xA0;These negotiations
were finalized on June 21, 2010.&amp;#xA0;&amp;#xA0;On that date, the
Company signed and closed a number of transactions, which included
the sale of AMV. Pursuant to the Agreement, ValueAct Small Cap
Master Fund, L.P.&amp;#xA0;(&amp;#x201C;ValueAct&amp;#x201D;) and Nate MacLeitch
and Jonathan Cresswell (the &amp;#x201C;AMV Founders&amp;#x201D;), acting
through a newly formed company, acquired the operating subsidiaries
of AMV in exchange for the release of $23,231 of secured
indebtedness, which included a release of all amounts due and
payable under the&amp;#xA0;secured promissory note in the aggregate
principal amount of $5,375 (the &amp;#x201C;AMV Note&amp;#x201D;)&amp;#xA0;and
all of the amounts due and payable under the Senior Secured Note,
issued by Twistbox, due July 31, 2010, as amended on February 12,
2008 (the &amp;#x201C;ValueAct Note&amp;#x201D;) except for $3,500 in
principal, which is due in one lump sum principal payment on June
21, 2013. In addition, all intercompany balances at that date were
cancelled, and all shares of common stock and warrants of the
Company held by ValueAct were cancelled. In addition, approximately
3,541 shares of common stock of the Company held by two of the
founders of AMV were acquired by the Company.&amp;#xA0;&amp;#xA0;As of June
30, 2010 the Company accrued $300 to a related party pertaining to
the sale of AMV.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
accordance with FASB ASC 205-20, &lt;i&gt;Discontinued Operations&lt;/i&gt;,
the operating results and net assets and liabilities related to AMV
were reclassified as of June 21, 2010 and reported as discontinued
operations in the accompanying consolidated financial
statements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
accordance with FASB ASC 360, Property, Plant and Equipment, the
Company recorded a gain of $4,200 on the sale of AMV.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
following is a summary of assets and liabilities of the
discontinued operations as of March 31, 2010 and as of the disposal
date of June 21, 2010 and the resulting gain on sale:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;June
21,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;March
31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;Assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 74%"&gt;Cash&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;641&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,251&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Working Capital, net of cash&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,536&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,501&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Property and Equipment, net&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;591&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;668&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Goodwill and
intangibles&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
15,948&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
15,955&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;Net
Assets Sold&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"&gt;
18,716&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"&gt;
19,375&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Direct costs associated with the
sale&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,173&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Currency translation adjustment&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;234&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Other&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
5&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
20,128&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Consideration&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
24,343&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;Gain on
sale, net of taxes&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold"&gt;
4,215&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
  <us-gaap:ProceedsFromIssuanceOfCommonStock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_35">2700000</us-gaap:ProceedsFromIssuanceOfCommonStock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_BD9FD179-FCDA-4F7B-99D0-3DF196E2FDBE_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;6.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Property and Equipment&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 74%"&gt;Equipment&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,310&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,298&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Furniture &amp;amp; fixtures&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;484&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;479&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;Leasehold
improvements&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
184&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
184&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,978&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,961&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Accumulated
depreciation&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
(1,748&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
(1,573&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Net Property
and Equipment&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
230&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
388&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;Net Property
and Equipment of discontinued operations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;Depreciation expense for the years ended March 31, 2012 and
2011 was $199 and $291, respectively for continuing operations and
$0 and $27 for discontinued operations.&lt;/p&gt;
&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:ProceedsFromConvertibleDebt contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_34">7000000</us-gaap:ProceedsFromConvertibleDebt>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_24">110000</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_38">7954000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_21">-176000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_37">100000</us-gaap:EffectOfExchangeRateOnCashAndCashEquivalents>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_C260D02E-EB7A-47E5-8D24-2F867AAA4D70_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;4.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Fair Value Measurements&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;The Company applies the provisions of ASC 820-10,
&lt;i&gt;&amp;#x201C;Fair Value Measurements and Disclosures.&amp;#x201D;&lt;/i&gt; ASC
820-10 defines fair value, and establishes a three-level valuation
hierarchy for disclosures of fair value measurement that enhances
disclosure requirements for fair value measures. The carrying
amounts reported in the consolidated balance sheets for receivables
and current liabilities each qualify as financial instruments and
are a reasonable estimate of their fair values because of the short
period of time between the origination of such instruments and
their expected realization and their current market rate of
interest. The three levels of valuation hierarchy are defined as
follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 8%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 4%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xB7; &amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 88%; TEXT-AUTOSPACE: ideograph-numeric"&gt;Level 1
inputs to the valuation methodology are quoted prices for identical
assets or liabilities in active markets.&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xB7; &amp;#xA0;&amp;#xA0;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric"&gt;Level 2 inputs to the
valuation methodology include quoted prices for similar assets and
liabilities in active markets, and inputs that are observable for
the asset or liability, either directly or indirectly, for
substantially the full term of the financial instrument.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 8%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 4%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xB7;&lt;/td&gt;
&lt;td style="WIDTH: 88%; TEXT-AUTOSPACE: ideograph-numeric"&gt;Level 3
inputs to the valuation methodology are unobservable and
significant to the fair value measurement.&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company analyzes all financial instruments with features of both
liabilities and equity under ASC 480, &lt;i&gt;&amp;#x201C;Distinguishing
Liabilities From Equity&amp;#x201D;&lt;/i&gt; and ASC 815,
&lt;i&gt;&amp;#x201C;Derivatives and Hedging.&amp;#x201D;&lt;/i&gt; Derivative
liabilities are adjusted to reflect fair value at each period end,
with any increase or decrease in the fair value being recorded in
results of operations as adjustments to fair value of derivatives.
The effects of interactions between embedded derivatives are
calculated and accounted for in arriving at the overall fair value
of the financial instruments. In addition, the fair values of
freestanding derivative instruments such as warrant and option
derivatives are valued using the Black-Scholes model.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company uses Level 2 inputs for its valuation methodology for the
warrant derivatives as their fair values were determined by using
the Black-Scholes option pricing model based on various
assumptions. The Company&amp;#x2019;s derivative liabilities are
adjusted to reflect fair value at each period end, with any
increase or decrease in the fair value being recorded in results of
operations as adjustments to fair value of derivatives.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;At
March 31, 2012, the Company determined the fair value of the
derivative warrant liability to be $452 using the Black-Scholes
option pricing model with the following assumptions: 1) expected
life 4 years, 2) a risk free interest rate of .51%, 3) a dividend
yield of 0% and 4) a volatility of 175%.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company identified the following liabilities that are required to
be presented on the balance sheet at fair value:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;u&gt;Measured at Fair Value on a Recurring Basis&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Warrant&amp;#xA0;derivative&amp;#xA0;liabilities&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;(in&amp;#xA0;thousands)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Total&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Level&amp;#xA0;1&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Level&amp;#xA0;2&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Level&amp;#xA0;3&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 48%"&gt;March 31, 2012&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;452&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;452&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;223&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;223&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 81%; FONT-SIZE: 10pt"&gt;
Balance at March 31, 2010&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 2%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 15%; FONT-SIZE: 10pt"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt"&gt;
Total gains or losses (realized/unrealized) included in
earnings&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt"&gt;
Purchases, issuances and settlements&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
223&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;Balance
at March 31, 2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
223&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt"&gt;
Total gains or losses (realized/unrealized) included in
earnings&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
4,447&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt"&gt;
Purchases, issuances and settlements&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
(4,218&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;Balance
at March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
452&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
Total amount of gains and losses for the period included in
earnings attributable to the change in unrealized gains or losses
related to liabilities still held at March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
4,447&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
warrant derivative liability is included in the accompanying
consolidated balance sheet, and is discussed further at Note
12.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company did not identify any other recurring assets and liabilities
that are required to be presented in the consolidated balance
sheets at fair value in accordance with ASC 825.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;u&gt;Measured at Fair Value on A Nonrecurring Basis&lt;/u&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Certain assets&amp;#xA0;and liabilities are measured at fair value on a
nonrecurring basis; that is, the instruments are not measured at
fair value on an ongoing basis but are subject to fair value
adjustments in certain circumstances (for example, when there is
evidence of impairment). The following table presents the assets
and liabilities carried on the balance sheet by caption and by
level within the fair value hierarchy (as described above) as of
March 31, 2012 and 2011, for which a nonrecurring change in fair
value has been recorded during the years ended March 31, 2012 and
2011.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="10"&gt;
Carrying&amp;#xA0;value&amp;#xA0;at&amp;#xA0;March&amp;#xA0;31,&amp;#xA0;2012&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Cumulative&amp;#xA0;losses&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-WEIGHT: bold"&gt;
(in&amp;#xA0;thousands)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Level&amp;#xA0;1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Level&amp;#xA0;2&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Level&amp;#xA0;3&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
as&amp;#xA0;of&amp;#xA0;March&amp;#xA0;31,&amp;#xA0;2012&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 35%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Goodwill and other intangible
assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;4,457&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;4,457&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;74,058&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="10"&gt;
Carrying&amp;#xA0;value&amp;#xA0;at&amp;#xA0;March&amp;#xA0;31,&amp;#xA0;2011&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Cumulative&amp;#xA0;losses&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-WEIGHT: bold"&gt;
(in&amp;#xA0;thousands)&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Total&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Level&amp;#xA0;1&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Level&amp;#xA0;2&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Level&amp;#xA0;3&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
as&amp;#xA0;of&amp;#xA0;March&amp;#xA0;31,&amp;#xA0;2011&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 35%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Goodwill and other intangible
assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,975&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;9,975&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;68,770&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Goodwill and other intangible assets measured at fair value on a
nonrecurring basis relate to goodwill and intangible assets that
were acquired in connection with an acquisition. Losses of $74,058
and $68,770 represent the cumulative impairment charge related to
these intangible assets recorded in fiscal&amp;#xA0;years 2012 and
2011, respectively. The fair value of these intangible assets was
calculated based on the methods and criteria described in Note 9
&amp;#x2013; Goodwill and Intangible Assets.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company performs a review of the fair value of goodwill and
intangible assets. Fair value is defined under ASC 820, Fair Value
Measurements and Disclosures as, &amp;#x201C;The price that would be
received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement
date&amp;#x201D;.&lt;/p&gt;
&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:IncreaseDecreaseInOtherAccruedLiabilities contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_6096BBC1-A0B4-461A-9D7C-BB7141E12D11_1_24">-34000</us-gaap:IncreaseDecreaseInOtherAccruedLiabilities>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_B751313D-4B5E-4E4C-9163-600E8C028B1D_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;14.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Income Taxes&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
difference between taxes at actual rates and the federal statutory
rate was as follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;table style="WIDTH: 65%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;Year
Ended&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;Year
Ended&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;March
31&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;March
31&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
2012&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
2011&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 62%; FONT-SIZE: 10pt"&gt;Statutory
Federal Income Taxes&lt;/td&gt;
&lt;td style="WIDTH: 1%; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-SIZE: 10pt"&gt;
(10,086&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;)&lt;/td&gt;
&lt;td style="WIDTH: 1%; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-SIZE: 10pt"&gt;
(2,528&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;State income taxes,
net of federal benefit&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;(1,447&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;)&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;(440&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;Write down of
goodwill and other perm diff&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;1,790&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;535&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;Foreign Expense&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;88&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;(809&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
Increase in Valuation Allowance&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
9,765&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
2,680&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;Income
tax provision (benefit)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
110&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
(562&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
Less discontinued Operations&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
809&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;Income
tax provision (benefit) for Continuing Ops&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
110&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
247&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Deferred tax assets and liabilities consist of the following:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;table style="WIDTH: 65%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in" cellspacing="0" cellpadding="0"&gt;
&lt;tr&gt;
&lt;td style="TEXT-ALIGN: center"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;Year Ended&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;Year Ended&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="TEXT-ALIGN: center"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;March 31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;March 31,&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr&gt;
&lt;td style="TEXT-ALIGN: center"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;2012&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;2011&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 62%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;Net Operating Loss
Carryforward&lt;/font&gt;&lt;/td&gt;
&lt;td style="WIDTH: 1%; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;24,188&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="WIDTH: 1%; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;22,891&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;Amortization of Intangible Asset&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;(1,404&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;(1,404&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;Stock-based compensation&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;11,735&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;3,358&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;Credit Carryforwards&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;(248&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;Other&lt;/font&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;54&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;(15&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;Deferred Tax&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;34,326&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;24,830&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;Valuation Allowance&lt;/font&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;(34,326&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;(24,830&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;)&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;Net Deferred Tax Asset&lt;/font&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;-&lt;/font&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;&amp;#xA0;&lt;/font&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
accordance with ASC 740 and based on all available evidence on a
jurisdictional basis, the Company believes that, it is more likely
than not that its deferred tax assets will not be utilized, and has
recorded a full valuation allowance against its net deferred tax
assets in each jurisdiction.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, the Company had net operating loss (NOL)
carry-forwards to reduce future Federal income taxes of
approximately $60,355, expiring in various years ranging through
2031. Utilization of the NOLs may be subject to a substantial
annual limitation due to ownership change limitations that may have
occurred or that could occur in the future, as required by Section
382 of the Internal Revenue Code of 1986, as amended (the "Code"),
as well as similar state limitations.&amp;#xA0;&amp;#xA0;These ownership
changes may limit the amount of NOLs that can be utilized annually
to offset future taxable income and tax,
respectively.&amp;#xA0;&amp;#xA0;In general, an "ownership change" as
defined by Section 382 of the Code, results from a transaction of
series of transactions over a three-year period resulting in an
ownership change of more than 50 percentage points of the
outstanding stock by a company by certain stockholders or public
groups.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, realization of the Company&apos;s net deferred tax asset
of approximately $34,326 was not considered more likely than not
and, accordingly, a valuation allowance of $34,326 has been
provided. During the year ended March 31, 2012, the valuation
allowance increased by $9,496.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;ASC 740
requires the consideration of a valuation allowance to reflect the
likelihood of realization of deferred tax
assets.&amp;#xA0;&amp;#xA0;Significant management judgment is required in
determining any valuation allowance recorded against deferred tax
assets.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company adopted the provisions of ASC 740 on January 1, 2008 and
there was no difference between the amounts of unrecognized tax
benefits recognized in the balance sheet prior to the adoption of
ASC 740 and those after the adoption of ASC 740. There were no
unrecognized tax benefits not subject to valuation allowance as at
March 31, 2012 and March 31, 2011. The Company recognized no
interest and penalties on income taxes in its statement of
operations for the year ended March 31, 2012; or the year ended
March 31, 2011.&amp;#xA0;&amp;#xA0;Management has evaluated and concluded
that there are no significant uncertain tax positions requiring
recognition in the Company&amp;#x2019;s financial statements as of March
31, 2012. The Company&amp;#x2019;s Federal and State income tax returns
remain subject to examination for all tax years ended 2008 and
2007, respectively. The Company is currently under audit
examination by the IRS of the tax year December 31, 2010.&lt;/p&gt;
&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:OtherCostOfOperatingRevenue contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_3">230000</us-gaap:OtherCostOfOperatingRevenue>
  <us-gaap:OperatingExpenses contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_16085D1C-EAC1-47A1-99F7-346BC4D141B0_1_13">21328000</us-gaap:OperatingExpenses>
  <us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" unitRef="iso4217_USD" decimals="-3" id="id_25091_91B8CB13-3C8F-4098-AC77-A11D254FE8A5_10009_1200018">69000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="eol_PE6786----1210-K0003_STD_366_20120331_0" id="id_25091_FD932148-45D3-4443-B9C6-B08AE0D909BB_1_0">&lt;div style="FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;7.&lt;/b&gt;&lt;/td&gt;
&lt;td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Description of Stock Plans&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On May
26, 2011, our board of directors adopted the 2011 Equity Incentive
Plan of NeuMedia, Inc. and on April 27, 2012, our board of
directors amended and restated the plan and the related plan
documents to change references to the name of our company from the
&amp;#x201C;NeuMedia, Inc.&amp;#x201D; to &amp;#x201C;Mandalay Digital Group,
Inc.&amp;#x201D; and further directed that they be submitted to
stockholders for their consideration and approval. On May 23, 2012,
our stockholders approved and adopted by written consent the
Amended and Restated 2011 Equity Incentive Plan of Mandalay Digital
Group, Inc. (the &amp;#x201C;Plan&amp;#x201D;) and the Mandalay Digital
Group, Inc. Amended and Restated 2011 Equity Incentive Plan Notice
of Grant and Restricted Stock Agreement and the Mandalay Digital
Group, Inc. Amended and Restated 2011 Equity Incentive Plan Notice
of Grant and Stock Option Agreement (collectively, the
&amp;#x201C;Related Documents&amp;#x201D;).&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
September 27, 2007, the stockholders of the Company adopted the
2007 Employee, Director and Consultant Stock Plan
(&amp;#x201C;Plan&amp;#x201D;). Under the Plan, the Company may grant up to
3,000 shares or equivalents of common stock of the Company as
incentive stock options (ISO), non-qualified options (NQO), stock
grants or stock-based awards to employees, directors or
consultants, except that ISO&amp;#x2019;s shall only be issued to
employees. Generally, ISO&amp;#x2019;s and NQO&amp;#x2019;s shall be issued
at prices not less than fair market value at the date of issuance,
as defined, and for terms ranging up to ten years, as defined. All
other terms of grants shall be determined by the board of directors
of the Company, subject to the Plan.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
February 12, 2008, the Company amended the Plan to increase the
number of shares of our common stock that may be issued under the
Plan to 7,000 shares and on March 7, 2008, amended the Plan to
increase the maximum number of&amp;#xA0;shares of the Company&apos;s common
stock with respect to which stock rights may be granted in any
fiscal year to 1,100 shares. All other terms of the plan remain in
full force and effect.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;Option Plans&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
following table summarizes options granted under the
Company&amp;#x2019;s 2007 Employee, Director and Consultant Stock Plan
equity compensation plan for the years ended March 31, 2012 and
2011:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;(in&amp;#xA0;thousands)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Number&amp;#xA0;of&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;
Weighted&amp;#xA0;Average&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Shares&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Exercise&amp;#xA0;Price&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 74%"&gt;Outstanding at March 31, 2010&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;6,187&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;2.49&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Canceled&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Exercised&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Outstanding at March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,187&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1.79&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Canceled&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(572&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Forfeited&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(817&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2.55&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Exercised&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Outstanding at March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
4,531&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
1.80&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Exercisable at March 31,
2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
4,798&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1.80&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
April 2011, two former employees each agreed to cancel options to
purchase 173,622 shares of common stock in connection with their
respective termination agreements.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
December 2011, the Company recorded the cancellation of 9,122
shares of common stock relating to three former employees.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company recorded the cancellation of 215,841 shares
of common stock.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;In
March 2012, the Company recorded the forfeiture of 816,667 shares
of common stock.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
exercise price for options outstanding and options exercisable at
March 31, 2012 was as follows:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Weighted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Average&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Weighted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Remaining&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Number&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Average&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Aggregate&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Range&amp;#xA0;of&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;
Contractual&amp;#xA0;Life&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Outstanding&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Exercise&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Intrinsic&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Exercise&amp;#xA0;Price&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;(Years)&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;March&amp;#xA0;31,&amp;#xA0;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Price&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Value&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 18%"&gt;$0 - $1.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 17%"&gt;4.27&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 17%"&gt;2,698&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 17%"&gt;0.47&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 17%"&gt;1,303,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;$2.00 - $3.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6.22&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,300&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2.75&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;$4.00 -
$5.00&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;5.87&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
800&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt"&gt;4.75&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;5.06&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
4,798&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt"&gt;1.80&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
1,303,500&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;Stock Plans&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;A
summary of the status of the Company&amp;#x2019;s 2007 Employee,
Director and Consultant Stock Plan equity compensation plan,
nonvested options as of March 31, 2012 and 2011 pursuant to the
Plan, and changes during the years ended March 31, 2012 and 2011 is
presented below:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;(in&amp;#xA0;thousands)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;
Weighted&amp;#xA0;Average&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Number&amp;#xA0;of&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center" colspan="2"&gt;Grant&amp;#xA0;Date&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Shares&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2"&gt;Fair Value&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Nonvested at March 31, 2010&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="WIDTH: 74%"&gt;Granted&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;1,200&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;0.25&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Vested&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;1,200&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.25&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Exercised&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Nonvested at March 31, 2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Granted&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Vested&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;Exercised&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Nonvested at March 31, 2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Cumulative forfeited, March 31, 2011&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(218&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.61&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Cumulative forfeited, March 31, 2012&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(1,035&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;2.55&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;Cumulative canceled, March 31, 2012&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;(572&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;0.60&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;As of
March 31, 2012, under the Company&amp;#x2019;s 2007 Employee, Director
and Consultant Stock Plan equity compensation plan, there was $0 of
total unrecognized compensation cost related to nonvested
share-based compensation arrangements granted under the Plan. The
total fair value of shares vested during the year ended March 31,
2012 was $0, and $0 was forfeited to cover individual tax
withholdings. The total fair value of shares vested during the year
ended March 31, 2011 was $2,100, and $0 was forfeited to cover
individual tax withholdings.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;Option Plans and Stock Plans&lt;/i&gt;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;Total
stock compensation expense for the Company&amp;#x2019;s 2007 Employee,
Director and Consultant Stock Plan equity compensation plan and
Amended and Restated 2011 Equity Incentive Plan is included in the
following statements of operations components:&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: right; COLOR: blue"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Twelve&amp;#xA0;Months&amp;#xA0;Ended&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
Twelve&amp;#xA0;Months&amp;#xA0;Ended&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: right; COLOR: blue"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
March&amp;#xA0;31,&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 74%"&gt;Product development&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;69&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;7&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Sales and marketing&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;19&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;General and
administrative&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
7,233&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
413&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
7,302&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
439&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
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&lt;table style="WIDTH: 100%; FONT-FAMILY: Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center"&gt;
&lt;tr style="VERTICAL-ALIGN: top"&gt;
&lt;td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;
&lt;b&gt;11.&lt;/b&gt;&lt;/td&gt;
&lt;td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt; FONT-WEIGHT: bold"&gt;
&lt;b&gt;Related Party Transactions&lt;/b&gt;&lt;/td&gt;
&lt;/tr&gt;
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&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;The
Company engages in various business relationships with shareholders
and officers and their related entities. The significant
relationships are disclosed below.&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;On
September 14, 2006, the Company entered into a five year management
agreement (&amp;#x201C;Agreement&amp;#x201D;) with Trinad Management, the
manager of Trinad Capital Master Fund, which is one of our
principal stockholders. In addition, Robert Ellin, our director, is
the managing director of and portfolio manager for Trinad
Management. Pursuant to the terms of the Agreement, Trinad
Management provides certain management services, including, without
limitation, relating to the sourcing, structuring and negotiation
of a potential business combination transaction involving the
Company in exchange for a fee of $90 per quarter, plus
reimbursements of all related expenses reasonably incurred. The
Agreement expired on September 14, 2011, but was extended to
December 31, 2011. During the years ended March 31, 2012 and 2011,
the Company incurred management fees under the agreement of $270
and $360, respectively. At March 31, 2012 and March 31, 2011, the
accrued payable to Trinad Management was $135 and $180,
respectively.&lt;/p&gt;
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  <element name="ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital" id="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="ServicesMember" id="mndl_ServicesMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockBasedCompensationMember" id="mndl_StockBasedCompensationMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockIssuedDuringPeriodSharesIssuedForCash" id="mndl_StockIssuedDuringPeriodSharesIssuedForCash" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockIssuedDuringPeriodValueIssuedForCash" id="mndl_StockIssuedDuringPeriodValueIssuedForCash" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockRetiredDuringPeriodShares" id="mndl_StockRetiredDuringPeriodShares" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="StockRetiredDuringPeriodValue" id="mndl_StockRetiredDuringPeriodValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="SupplementalIssuanceOfWarrantLiability" id="mndl_SupplementalIssuanceOfWarrantLiability" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="VendorMember" id="mndl_VendorMember" type="nonnum:domainItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
  <element name="WeightedAverageNumberBasicDilutedSharesOutstanding" id="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item"/>
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>20
<FILENAME>mndl-20120331_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Calculation Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.15.5 -->
<!-- Round: 4a1e3c1d-f683-4c1e-ac0b-7156517476a9 -->
<!-- Creation date: 2012-06-29T19:37:04Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_StatementOfFinancialPositionClassified" roleURI="http://www.mandalaydigital.com/taxonomy/role/StatementOfFinancialPositionClassified"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_StatementOfFinancialPositionClassifiedParen" roleURI="http://www.mandalaydigital.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_StatementOfIncome" roleURI="http://www.mandalaydigital.com/taxonomy/role/StatementOfIncome"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_ci-StatementOfShareholdersEquityAndOtherComprehensiveIncome" roleURI="http://www.mandalaydigital.com/taxonomy/role/StatementOfShareholdersEquityAndOtherComprehensiveIncome"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_StatementOfCashFlowsIndirect" roleURI="http://www.mandalaydigital.com/taxonomy/role/StatementOfCashFlowsIndirect"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsNatureOfOperations" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsNatureOfOperations"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsLiquidityDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsLiquidityDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsBasisOfPresentationAndSignificantAccountingPoliciesTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsFairValueDisclosuresTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsFairValueDisclosuresTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsLoansNotesTradeAndOtherReceivablesDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsLoansNotesTradeAndOtherReceivablesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsPropertyPlantAndEquipmentDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsDisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsDisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsDisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsGoodwillAndIntangibleAssetsDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsGoodwillAndIntangibleAssetsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsDebtDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsRelatedPartyTransactionsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsStockholdersEquityNoteDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsPensionAndOtherPostretirementBenefitsDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsPensionAndOtherPostretirementBenefitsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsIncomeTaxDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsIncomeTaxDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsSegmentReportingDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsSegmentReportingDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsCommitmentsAndContingenciesDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsSubsequentEventsTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsSubsequentEventsTextBlock"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.mandalaydigital.com/taxonomy/role/DocumentDocumentandEntityInformation">
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  <calculationLink xlink:type="extended" xlink:role="http://www.mandalaydigital.com/taxonomy/role/StatementOfFinancialPositionClassified">
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" xlink:label="us-gaap_AccountsReceivableNetCurrent"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_DerivativeLiabilitiesCurrent" xlink:label="us-gaap_DerivativeLiabilitiesCurrent"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"/>
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  <calculationLink xlink:type="extended" xlink:role="http://www.mandalaydigital.com/taxonomy/role/StatementOfFinancialPositionClassifiedParenthetical">
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>21
<FILENAME>mndl-20120331_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Definition Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.15.5 -->
<!-- Round: 4a1e3c1d-f683-4c1e-ac0b-7156517476a9 -->
<!-- Creation date: 2012-06-29T19:37:04Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>22
<FILENAME>mndl-20120331_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Labels Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.15.5 -->
<!-- Round: 4a1e3c1d-f683-4c1e-ac0b-7156517476a9 -->
<!-- Creation date: 2012-06-29T19:37:04Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" id="id_25091_445011_1_1">Accounts Receivable Net Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US" id="id_25091_445011_2_1">Accounts receivable, net of allowances of $108 and $96, respectively</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US" id="id_25091_442171_1_1">Accumulated Other Comprehensive Income Loss Net Of Tax</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="id_25091_443982_1_1">Accumulated Other Comprehensive Income [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeMember_lbl" xml:lang="en-US" id="id_25091_443982_2_1">Accumulated Other Comprehensive Income/(Loss)</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_25091_450188_1_1">Additional Paid In Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_25091_450188_2_1">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" id="id_25091_453698_1_1">Additional Paid In Capital [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US" id="id_25091_453698_2_1">Additional Paid-In Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_AdjustmentOtherCharges" xlink:label="mndl_AdjustmentOtherCharges"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_AdjustmentOtherCharges_lbl" xml:lang="en-US" id="id_25091_459403_3_1">Adjustment - Other Charges not otherwise defined</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_AdjustmentOtherCharges_lbl" xml:lang="en-US" id="id_25091_459403_1_1">Adjustment Other Charges</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_AdjustmentOtherCharges_lbl" xml:lang="en-US" id="id_25091_459403_2_1">Finance costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_AdjustmentOtherCharges" xlink:to="mndl_AdjustmentOtherCharges_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet" xlink:label="mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet_lbl" xml:lang="en-US" id="id_25091_458665_3_1">Change in additional paid in capital due to call options and warrants.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet_lbl" xml:lang="en-US" id="id_25091_458665_1_1">Adjustments To Additional Paid In Capital Call Options And Warrant Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet_lbl" xml:lang="en-US" id="id_25091_458665_2_1">Repricing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet" xlink:to="mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl" xml:lang="en-US" id="id_25091_443710_1_1">Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl" xml:lang="en-US" id="id_25091_443710_2_1">Issuance of convertible debt and associated warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalOther" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther_lbl" xml:lang="en-US" id="id_25091_441754_1_1">Adjustments To Additional Paid In Capital Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther_lbl" xml:lang="en-US" id="id_25091_441754_2_1">Reclassification of derivative liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalOther_lbl"/>
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    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_AssetAcquisitionMember_lbl" xml:lang="en-US" id="id_25091_470819_3_1">Asset Acquisition [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US" id="id_25091_450333_2_1">ASSETS</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" id="id_25091_447705_1_1">Assets Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US" id="id_25091_447705_6_1">Total current assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US" id="id_25091_448471_1_1">Assets Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US" id="id_25091_448471_2_1">Current assets</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US" id="id_25091_444581_1_1">Common Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US" id="id_25091_444581_2_1">Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="id_25091_449974_1_1">Common Stock Par Or Stated Value Per Share</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtDisclosureTextBlock" xlink:to="us-gaap_DebtDisclosureTextBlock_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesValue_lbl" xml:lang="en-US" id="id_25091_463059_3_1">Issuance Of Common Stock In Exchange For Convertible Notes, Value</label>
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    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_25091_446874_1_1">Net Cash Provided By Used In Investing Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US" id="id_25091_446874_2_1">Cash flows from investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_25091_444138_1_1">Net Cash Provided By Used In Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US" id="id_25091_444138_2_1">Net cash used in operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_25091_455701_1_1">Net Cash Provided By Used In Operating Activities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US" id="id_25091_455701_2_1">Cash flows from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_25091_448373_1_1">Net Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_25091_448373_2_1">Net (loss)/income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_25091_448373_6_1">Net (loss)/profit income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US" id="id_25091_448373_12_1">Net loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US" id="id_25091_448410_1_1">Nonoperating Income Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US" id="id_25091_448410_6_1">Interest and other expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US" id="id_25091_451121_1_1">Nonoperating Income Expense [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US" id="id_25091_451121_2_1">Interest and other income / (expense)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="id_25091_454286_1_1">Operating Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US" id="id_25091_454286_6_1">Total operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="us-gaap_OperatingExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" id="id_25091_446526_1_1">Operating Expenses [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US" id="id_25091_446526_2_1">Operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" id="id_25091_451396_1_1">Operating Income Loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US" id="id_25091_451396_6_1">Loss from operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OptionMember" xlink:label="us-gaap_OptionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OptionMember_lbl" xml:lang="en-US" id="id_25091_452492_1_1">Option [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OptionMember_lbl" xml:lang="en-US" id="id_25091_452492_2_1">Embedded conversion option</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OptionMember" xlink:to="us-gaap_OptionMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_OptionsAndCompensationMember" xlink:label="mndl_OptionsAndCompensationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_OptionsAndCompensationMember_lbl" xml:lang="en-US" id="id_25091_599354_3_1">Options and Compensation [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_OptionsAndCompensationMember_lbl" xml:lang="en-US" id="id_25091_599354_1_1">Options And Compensation [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_OptionsAndCompensationMember_lbl" xml:lang="en-US" id="id_25091_599354_2_1">Options and Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_OptionsAndCompensationMember" xlink:to="mndl_OptionsAndCompensationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrent" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_25091_441619_1_1">Other Accrued Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherAccruedLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_25091_441619_2_1">Accrued license fees</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract_lbl" xml:lang="en-US" id="id_25091_455051_1_1">Other Comprehensive Income Available For Sale Securities Adjustment Before Tax Period Increase Decrease [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract_lbl" xml:lang="en-US" id="id_25091_455051_2_1">Other comprehensive (loss) / income:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US" id="id_25091_443296_1_1">Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Period Increase Decrease</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US" id="id_25091_443296_2_1">Foreign currency translation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US" id="id_25091_443296_12_1">Foreign currency translation adjustment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:to="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherCostOfOperatingRevenue" xlink:label="us-gaap_OtherCostOfOperatingRevenue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherCostOfOperatingRevenue_lbl" xml:lang="en-US" id="id_25091_454251_1_1">Other Cost Of Operating Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherCostOfOperatingRevenue_lbl" xml:lang="en-US" id="id_25091_454251_2_1">Other direct cost of revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCostOfOperatingRevenue" xlink:to="us-gaap_OtherCostOfOperatingRevenue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherLiabilitiesCurrent" xlink:label="us-gaap_OtherLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_25091_447022_1_1">Other Liabilities Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US" id="id_25091_447022_2_1">Other current liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="us-gaap_OtherLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNoncashExpense" xlink:label="us-gaap_OtherNoncashExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNoncashExpense_lbl" xml:lang="en-US" id="id_25091_447670_1_1">Other Noncash Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNoncashExpense_lbl" xml:lang="en-US" id="id_25091_447670_2_1">Repricing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashExpense" xlink:to="us-gaap_OtherNoncashExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" id="id_25091_442697_1_1">Other Nonoperating Income Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US" id="id_25091_442697_2_1">Other income / (expense)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaidInKindInterest" xlink:label="us-gaap_PaidInKindInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaidInKindInterest_lbl" xml:lang="en-US" id="id_25091_456059_1_1">Paid In Kind Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaidInKindInterest_lbl" xml:lang="en-US" id="id_25091_456059_2_1">PIK interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaidInKindInterest" xlink:to="us-gaap_PaidInKindInterest_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US" id="id_25091_446610_1_1">Payments For Proceeds From Other Investing Activities</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl" xml:lang="en-US" id="id_25091_446610_8_1">Transaction costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:label="us-gaap_PaymentsForProceedsFromProductiveAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForProceedsFromProductiveAssets_lbl" xml:lang="en-US" id="id_25091_443683_1_1">Payments For Proceeds From Productive Assets</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsForProceedsFromProductiveAssets_lbl" xml:lang="en-US" id="id_25091_443683_8_1">Purchase of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromProductiveAssets" xlink:to="us-gaap_PaymentsForProceedsFromProductiveAssets_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US" id="id_25091_455448_1_1">Payments To Acquire Businesses Net Of Cash Acquired</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US" id="id_25091_455448_8_1">Cash remaining with disposed subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_447857_1_1">Pension And Other Postretirement Benefits Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_447857_2_1">Employee Benefit Plans</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock" xlink:to="us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_PreferredStockLiquidationPreferenceValue" xlink:label="mndl_PreferredStockLiquidationPreferenceValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" id="id_25091_458999_3_1">The aggregate liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" id="id_25091_458999_1_1">Preferred Stock Liquidation Preference Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_PreferredStockLiquidationPreferenceValue_lbl" xml:lang="en-US" id="id_25091_458999_2_1">Series A convertible preferred stock, liquidation preference</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_PreferredStockLiquidationPreferenceValue" xlink:to="mndl_PreferredStockLiquidationPreferenceValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US" id="id_25091_444874_1_1">Preferred Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US" id="id_25091_444874_2_1">Preferred Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="id_25091_454155_1_1">Preferred Stock Par Or Stated Value Per Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US" id="id_25091_454155_2_1">Series A convertible preferred stock, par value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:label="us-gaap_PreferredStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US" id="id_25091_447581_1_1">Preferred Stock Shares Authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesAuthorized_lbl" xml:lang="en-US" id="id_25091_447581_2_1">Series A convertible preferred stock, shares authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesAuthorized" xlink:to="us-gaap_PreferredStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" id="id_25091_452714_1_1">Preferred Stock Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesIssued_lbl" xml:lang="en-US" id="id_25091_452714_2_1">Series A convertible preferred stock, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="us-gaap_PreferredStockSharesIssued_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_448416_1_1">Preferred Stock Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_448416_2_1">Series A convertible preferred stock, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="us-gaap_PreferredStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" id="id_25091_452720_1_1">Preferred Stock Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US" id="id_25091_452720_2_1">Preferred stock Series A convertible preferred stock at $0.0001 par value; 100,000 shares authorized, issued and outstanding (liquidation preference of $1,000,000)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US" id="id_25091_444397_1_1">Prepaid Expense And Other Assets Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl" xml:lang="en-US" id="id_25091_444397_2_1">Prepaid expenses and other current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromConvertibleDebt" xlink:label="us-gaap_ProceedsFromConvertibleDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl" xml:lang="en-US" id="id_25091_452717_1_1">Proceeds From Convertible Debt</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromConvertibleDebt_lbl" xml:lang="en-US" id="id_25091_452717_2_1">Proceeds from new convertible debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromConvertibleDebt" xlink:to="us-gaap_ProceedsFromConvertibleDebt_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" id="id_25091_452519_1_1">Proceeds From Issuance Of Common Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US" id="id_25091_452519_2_1">Issuance of shares for cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_452562_1_1">Property Plant And Equipment Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_452562_2_1">Property and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" id="id_25091_454339_1_1">Property Plant And Equipment Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US" id="id_25091_454339_2_1">Property and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_ProvisionForReductionOfDoubtfulAccounts" xlink:label="mndl_ProvisionForReductionOfDoubtfulAccounts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_ProvisionForReductionOfDoubtfulAccounts_lbl" xml:lang="en-US" id="id_25091_478615_3_1">Provision for change in Allowance for Doubtful Accounts.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_ProvisionForReductionOfDoubtfulAccounts_lbl" xml:lang="en-US" id="id_25091_478615_1_1">Provision For Reduction Of Doubtful Accounts</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="mndl_ProvisionForReductionOfDoubtfulAccounts_lbl" xml:lang="en-US" id="id_25091_478615_8_1">Allowance for doubtful accounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_ProvisionForReductionOfDoubtfulAccounts" xlink:to="mndl_ProvisionForReductionOfDoubtfulAccounts_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital" xlink:label="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_25091_466177_3_1">Reclassification Of Derivative Liabilities To Additional Paid In Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_25091_466177_1_1">Reclassification Of Derivative Liabilities To Additional Paid In Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital_lbl" xml:lang="en-US" id="id_25091_466177_2_1">Reclassify derivative liability to additional paid in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital" xlink:to="mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_455167_1_1">Related Party Transactions Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_455167_2_1">Related Party Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US" id="id_25091_448610_1_1">Research And Development Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US" id="id_25091_448610_2_1">Product development</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpense" xlink:to="us-gaap_ResearchAndDevelopmentExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="id_25091_443900_1_1">Retained Earnings Accumulated Deficit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US" id="id_25091_443900_2_1">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="us-gaap_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="id_25091_440920_1_1">Retained Earnings [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US" id="id_25091_440920_2_1">Accumulated Deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" id="id_25091_443349_1_1">Revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US" id="id_25091_443349_2_1">Net revenues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="us-gaap_ScenarioUnspecifiedDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" id="id_25091_455613_1_1">Scenario Unspecified [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScenarioUnspecifiedDomain_lbl" xml:lang="en-US" id="id_25091_455613_2_1">Scenario, Unspecified [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScenarioUnspecifiedDomain" xlink:to="us-gaap_ScenarioUnspecifiedDomain_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SegmentReportingDisclosureTextBlock" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_443414_1_1">Segment Reporting Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_443414_2_1">Segment and Geographic information</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SellingAndMarketingExpense" xlink:label="us-gaap_SellingAndMarketingExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingAndMarketingExpense_lbl" xml:lang="en-US" id="id_25091_442562_1_1">Selling And Marketing Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SellingAndMarketingExpense_lbl" xml:lang="en-US" id="id_25091_442562_2_1">Sales and marketing</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingAndMarketingExpense" xlink:to="us-gaap_SellingAndMarketingExpense_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_ServicesMember" xlink:label="mndl_ServicesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_ServicesMember_lbl" xml:lang="en-US" id="id_25091_468425_3_1">Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_ServicesMember_lbl" xml:lang="en-US" id="id_25091_468425_1_1">Services [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_ServicesMember_lbl" xml:lang="en-US" id="id_25091_468425_2_1">Services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_ServicesMember" xlink:to="mndl_ServicesMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" id="id_25091_445525_1_1">Share Based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US" id="id_25091_445525_2_1">Stock-based compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensation" xlink:to="us-gaap_ShareBasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="us-gaap_SharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US" id="id_25091_451274_1_1">Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US" id="id_25091_451274_4_1">Ending Balance (in shares)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_SharesOutstanding_lbl" xml:lang="en-US" id="id_25091_451274_5_1">Beginning Balance (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesOutstanding" xlink:to="us-gaap_SharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US" id="id_25091_452905_1_1">Statement Equity Components [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US" id="id_25091_452905_2_1">Statement, Equity Components [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="id_25091_442947_1_1">Statement [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US" id="id_25091_442947_2_1">Statement [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="id_25091_444291_1_1">Statement Of Cash Flows [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US" id="id_25091_444291_2_1">Statement of Cash Flows [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_25091_445234_1_1">Statement Of Financial Position [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US" id="id_25091_445234_2_1">Statement of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="id_25091_454336_1_1">Statement Of Stockholders Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US" id="id_25091_454336_2_1">Statement of Stockholders' Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="us-gaap_StatementScenarioAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US" id="id_25091_455296_1_1">Statement Scenario [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementScenarioAxis_lbl" xml:lang="en-US" id="id_25091_455296_2_1">Statement, Scenario [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementScenarioAxis" xlink:to="us-gaap_StatementScenarioAxis_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US" id="id_25091_447352_1_1">Statement [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US" id="id_25091_447352_2_1">Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_StockBasedCompensationMember" xlink:label="mndl_StockBasedCompensationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_StockBasedCompensationMember_lbl" xml:lang="en-US" id="id_25091_555450_3_1">Stock Based Compensation [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_StockBasedCompensationMember_lbl" xml:lang="en-US" id="id_25091_555450_1_1">Stock Based Compensation [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_StockBasedCompensationMember_lbl" xml:lang="en-US" id="id_25091_555450_2_1">Stock Based Compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_StockBasedCompensationMember" xlink:to="mndl_StockBasedCompensationMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_25091_453525_1_1">Stockholders Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_25091_453525_4_1">Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_25091_453525_5_1">Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US" id="id_25091_453525_6_1">Total stockholders' equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" id="id_25091_452258_1_1">Stockholders Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US" id="id_25091_452258_2_1">Stockholders' equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_441733_1_1">Stockholders Equity Note Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US" id="id_25091_441733_2_1">Capital Stock Transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_StockIssuedDuringPeriodSharesIssuedForCash" xlink:label="mndl_StockIssuedDuringPeriodSharesIssuedForCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_StockIssuedDuringPeriodSharesIssuedForCash_lbl" xml:lang="en-US" id="id_25091_599357_3_1">Number of shares issued as consideration for cash.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_StockIssuedDuringPeriodSharesIssuedForCash_lbl" xml:lang="en-US" id="id_25091_599357_1_1">Stock Issued During Period Shares Issued For Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_StockIssuedDuringPeriodSharesIssuedForCash_lbl" xml:lang="en-US" id="id_25091_599357_2_1">Issuance of common stock for cash (in share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_StockIssuedDuringPeriodSharesIssuedForCash" xlink:to="mndl_StockIssuedDuringPeriodSharesIssuedForCash_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" id="id_25091_451622_1_1">Stock Issued During Period Shares New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US" id="id_25091_451622_2_1">Stock issued for services (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" id="id_25091_444763_1_1">Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" id="id_25091_444763_2_1">Issuance of restricted stock (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures" xlink:to="us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" xml:lang="en-US" id="id_25091_447790_1_1">Stock Issued During Period Shares Share Based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl" xml:lang="en-US" id="id_25091_447790_2_1">Issuance of common stock as part of compensation (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_StockIssuedDuringPeriodValueIssuedForCash" xlink:label="mndl_StockIssuedDuringPeriodValueIssuedForCash"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_StockIssuedDuringPeriodValueIssuedForCash_lbl" xml:lang="en-US" id="id_25091_599356_3_1">Value of stock issued as consideration for cash.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_StockIssuedDuringPeriodValueIssuedForCash_lbl" xml:lang="en-US" id="id_25091_599356_1_1">Stock Issued During Period Value Issued For Cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_StockIssuedDuringPeriodValueIssuedForCash_lbl" xml:lang="en-US" id="id_25091_599356_2_1">Issuance of common stock for cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_StockIssuedDuringPeriodValueIssuedForCash" xlink:to="mndl_StockIssuedDuringPeriodValueIssuedForCash_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US" id="id_25091_450789_1_1">Stock Issued During Period Value New Issues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US" id="id_25091_450789_2_1">Stock issued for services</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" id="id_25091_447053_1_1">Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl" xml:lang="en-US" id="id_25091_447053_2_1">Issuance of restricted stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" xlink:to="us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" xml:lang="en-US" id="id_25091_454375_1_1">Stock Issued During Period Value Share Based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl" xml:lang="en-US" id="id_25091_454375_2_1">Issuance of common stock as part of compensation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:to="us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US" id="id_25091_443898_1_1">Stock Repurchased And Retired During Period Shares</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl" xml:lang="en-US" id="id_25091_443898_8_1">Stock acquired by company as part of disposal of subsidiary (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US" id="id_25091_443884_1_1">Stock Repurchased And Retired During Period Value</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl" xml:lang="en-US" id="id_25091_443884_8_1">Stock acquired by company as part of disposal of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue" xlink:to="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_StockRetiredDuringPeriodShares" xlink:label="mndl_StockRetiredDuringPeriodShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_StockRetiredDuringPeriodShares_lbl" xml:lang="en-US" id="id_25091_466539_3_1">Number of shares that has been retired during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_StockRetiredDuringPeriodShares_lbl" xml:lang="en-US" id="id_25091_466539_1_1">Stock Retired During Period Shares</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="mndl_StockRetiredDuringPeriodShares_lbl" xml:lang="en-US" id="id_25091_466539_8_1">Stock voided as part of disposal of subsidiary (in shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_StockRetiredDuringPeriodShares" xlink:to="mndl_StockRetiredDuringPeriodShares_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_StockRetiredDuringPeriodValue" xlink:label="mndl_StockRetiredDuringPeriodValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_StockRetiredDuringPeriodValue_lbl" xml:lang="en-US" id="id_25091_458906_3_1">Value of stock that has been retired during the period.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_StockRetiredDuringPeriodValue_lbl" xml:lang="en-US" id="id_25091_458906_1_1">Stock Retired During Period Value</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="mndl_StockRetiredDuringPeriodValue_lbl" xml:lang="en-US" id="id_25091_458906_8_1">Stock voided as part of disposal of subsidiary</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_StockRetiredDuringPeriodValue" xlink:to="mndl_StockRetiredDuringPeriodValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="us-gaap_SubsequentEventsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US" id="id_25091_447520_1_1">Subsequent Events [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US" id="id_25091_447520_2_1">Subsequent Events</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_SupplementalCashFlowElementsAbstract" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xml:lang="en-US" id="id_25091_448531_1_1">Supplemental Cash Flow Elements [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalCashFlowElementsAbstract_lbl" xml:lang="en-US" id="id_25091_448531_2_1">Supplemental disclosure of cash flow information:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowElementsAbstract" xlink:to="us-gaap_SupplementalCashFlowElementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_SupplementalIssuanceOfWarrantLiability" xlink:label="mndl_SupplementalIssuanceOfWarrantLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_SupplementalIssuanceOfWarrantLiability_lbl" xml:lang="en-US" id="id_25091_545190_3_1">Supplemental Issuance of Warrant Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_SupplementalIssuanceOfWarrantLiability_lbl" xml:lang="en-US" id="id_25091_545190_1_1">Supplemental Issuance Of Warrant Liability</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_SupplementalIssuanceOfWarrantLiability_lbl" xml:lang="en-US" id="id_25091_545190_2_1">Issuance of warrants with convertible debenture</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_SupplementalIssuanceOfWarrantLiability" xlink:to="mndl_SupplementalIssuanceOfWarrantLiability_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TextBlockAbstract" xlink:label="us-gaap_TextBlockAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TextBlockAbstract_lbl" xml:lang="en-US" id="id_25091_451919_1_1">Text Block [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TextBlockAbstract_lbl" xml:lang="en-US" id="id_25091_451919_2_1">Text Block [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TextBlockAbstract" xlink:to="us-gaap_TextBlockAbstract_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.sec.gov/dei/2011/dei-2011-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" id="id_25091_440666_1_1">Trading Symbol</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US" id="id_25091_440666_2_1">Trading Symbol</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockMember" xlink:label="us-gaap_TreasuryStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US" id="id_25091_449678_1_1">Treasury Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockMember_lbl" xml:lang="en-US" id="id_25091_449678_2_1">Treasury Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockMember" xlink:to="us-gaap_TreasuryStockMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="us-gaap_TreasuryStockShares"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US" id="id_25091_455148_1_1">Treasury Stock Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_TreasuryStockShares_lbl" xml:lang="en-US" id="id_25091_455148_2_1">Treasury Stock, shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockShares" xlink:to="us-gaap_TreasuryStockShares_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_TreasuryStockValue" xlink:label="us-gaap_TreasuryStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US" id="id_25091_442195_1_1">Treasury Stock Value</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_TreasuryStockValue_lbl" xml:lang="en-US" id="id_25091_442195_8_1">Treasury Stock (3,772,999 shares at March 31, 2012 and 2011)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockValue" xlink:to="us-gaap_TreasuryStockValue_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_UnrealizedGainLossOnDerivatives" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xml:lang="en-US" id="id_25091_454580_1_1">Unrealized Gain Loss On Derivatives</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_UnrealizedGainLossOnDerivatives_lbl" xml:lang="en-US" id="id_25091_454580_8_1">Fair Value of warrants and conversion options issued for financing costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrealizedGainLossOnDerivatives" xlink:to="us-gaap_UnrealizedGainLossOnDerivatives_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_VendorMember" xlink:label="mndl_VendorMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_VendorMember_lbl" xml:lang="en-US" id="id_25091_484695_3_1">Vendor [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_VendorMember_lbl" xml:lang="en-US" id="id_25091_484695_1_1">Vendor [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_VendorMember_lbl" xml:lang="en-US" id="id_25091_484695_2_1">Vendor</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_VendorMember" xlink:to="mndl_VendorMember_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WarrantMember" xlink:label="us-gaap_WarrantMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US" id="id_25091_450439_1_1">Warrant [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WarrantMember_lbl" xml:lang="en-US" id="id_25091_450439_2_1">Warrant derivative</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WarrantMember" xlink:to="us-gaap_WarrantMember_lbl"/>
    <loc xlink:type="locator" xlink:href="mndl-20120331.xsd#mndl_WeightedAverageNumberBasicDilutedSharesOutstanding" xlink:label="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_466530_3_1">Weighted Average Number of Shares Outstanding where Basic and Diluted are the same and reported as a single line</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_466530_1_1">Weighted Average Number Basic Diluted Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_466530_2_1">Weighted average common shares outstanding, basic and diluted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding" xlink:to="mndl_WeightedAverageNumberBasicDilutedSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:href="http://xbrl.fasb.org/us-gaap/2011/elts/us-gaap-2011-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_455335_1_1">Weighted Average Number Of Diluted Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US" id="id_25091_455335_2_1">Weighted average common shares outstanding, diluted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>
  </labelLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>23
<FILENAME>mndl-20120331_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- EDGAR Online I-Metrix Xcelerate Taxonomy Presentation Linkbase, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version: 6.15.5 -->
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<!-- Creation date: 2012-06-29T19:37:04Z -->
<!-- Copyright (c) 2005-2011 EDGAR Online, Inc. All Rights Reserved. -->
<linkbase xmlns="http://www.xbrl.org/2003/linkbase"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"
  xmlns:xlink="http://www.w3.org/1999/xlink"
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  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsNatureOfOperations" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsNatureOfOperations"/>
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  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsDisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsDisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsGoodwillAndIntangibleAssetsDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsGoodwillAndIntangibleAssetsDisclosureTextBlock"/>
  <roleRef xlink:type="simple" xlink:href="mndl-20120331.xsd#Role_NotesToFinancialStatementsDebtDisclosureTextBlock" roleURI="http://www.mandalaydigital.com/taxonomy/role/NotesToFinancialStatementsDebtDisclosureTextBlock"/>
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          <div style="width: 200px;"><strong>Summary of Significant Accounting Policies<br></strong></div>
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        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Mar. 31, 2012</div>
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&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>3.</b></td>
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<b>Summary of Significant Accounting Policies</b></td>
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<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Basis of Presentation</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
financial statements have been prepared in accordance with
accounting principles generally accepted in the United States of
America (&#x201C;GAAP&#x201D;) and pursuant to the rules and
regulations of the Securities and Exchange Commission
(&#x201C;SEC&#x201D;) for annual financial statements.&#xA0;&#xA0;The
financial statements, in the opinion of management, include all
adjustments necessary for a fair statement of the results of
operations, financial position and cash flows for each period
presented.</p>
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&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Principles of Consolidation</b></p>
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&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
consolidated financial statements include the accounts of the
Company and our wholly-owned subsidiaries. All material
intercompany balances and transactions have been eliminated in
consolidation. Discontinued operations have been treated in
accordance with Financial Accounting Standards Board
(&#x201C;FASB&#x201D;) Accounting Standards Codification
(&#x201C;ASC&#x201D;)&#xA0;&#xA0;205-20, <i>Discontinued
Operations.</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>&#xA0;</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Revenue Recognition</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company&#x2019;s revenues are derived primarily by licensing
material and software in the form of products (Image Galleries,
Wallpapers, video, WAP Site access, Mobile TV), developing and
maintaining carrier platforms, mobile advertising, mobile billing
and mobile games. License arrangements with the end user can be on
a perpetual or subscription basis.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">A
perpetual license gives an end user the right to use the product,
image or game on the registered handset on a perpetual basis. A
subscription license gives an end user the right to use the
product, image or game on the registered handset for a limited
period of time, ranging from a few days to as long as one
month.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company either markets and distributes its products directly to
consumers, or distributes products through mobile
telecommunications service providers (&#x201C;carriers&#x201D;), in
which case the carrier markets the product, images or games to end
users. License fees for perpetual and subscription licenses are
usually billed upon download of the product, image or game by the
end user. In the case of subscription licenses, many subscriber
agreements provide for automatic renewal until the subscriber
opts-out, while others provide opt-in renewal. In either case,
subsequent billings for subscription licenses are generally billed
monthly. The Company applies the provisions of FASB ASC 985-605,
<i>Software Revenue Recognition</i>, to all transactions.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Revenues are recognized from the Company&#x2019;s products, images
and games when persuasive evidence of an arrangement exists, the
product, image or game has been delivered, the fee is fixed or
determinable, and the collection of the resulting receivable is
probable. For both perpetual and subscription licenses, management
considers a license agreement to be evidence of an arrangement with
a carrier or aggregator and a &#x201C;clickwrap&#x201D; agreement to
be evidence of an arrangement with an end user. For these licenses,
the Company defines delivery as the download of the product, image
or game by the end user.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company estimates revenues from carriers in the current period when
reasonable estimates of these amounts can be made. Most carriers
only provide detailed sales transaction data on a one to two month
lag. Estimated revenue is treated as unbilled receivables until the
detailed reporting is received and the revenues can be billed. Some
carriers provide reliable interim preliminary reporting and others
report sales data within a reasonable time frame following the end
of each month, both of which allow the Company to make reasonable
estimates of revenues and therefore to recognize revenues during
the reporting period when the end user licenses the product, image
or game. Determination of the appropriate amount of revenue
recognized involves judgments and estimates that the Company
believes are reasonable, but it is possible that actual results may
differ from the Company&#x2019;s estimates. The Company&#x2019;s
estimates for revenues include consideration of factors such as
preliminary sales data, carrier-specific historical sales trends,
volume of activity on company monitored sites, seasonality, time
elapsed from launch of services or product lines, the age of games
and the expected impact of newly launched games, successful
introduction of newer and more advanced handsets, promotions during
the period and economic trends. When the Company receives the final
carrier reports, to the extent not received within a reasonable
time frame following the end of each month, the Company records any
differences between estimated revenues and actual revenues in the
reporting period when the Company determines the actual amounts.
Revenues earned from certain carriers may not be reasonably
estimated. If the Company is unable to reasonably estimate the
amount of revenues to be recognized in the current period, the
Company recognizes revenues upon the receipt of a carrier revenue
report and when the Company&#x2019;s portion of licensed revenues
are fixed or determinable and collection is probable. To monitor
the reliability of the Company&#x2019;s estimates, management, where
possible, reviews the revenues by country, by carrier and by
product line on a regular basis to identify unusual trends such as
differential adoption rates by carriers or the introduction of new
handsets. If the Company deems a carrier not to be creditworthy,
the Company defers all revenues from the arrangement until the
Company receives payment and all other revenue recognition criteria
have been met.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
accordance with FASB ASC 605-45, <i>Reporting Revenue Gross as a
Principal Versus Net as an Agent</i>, the Company recognizes as
revenues the amount the carrier reports as payable upon the sale of
the Company&#x2019;s products, images or games. The Company has
evaluated its carrier agreements and has determined that it is not
the principal when selling its products, images or games through
carriers. Key indicators that it evaluated to reach this
determination include:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
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&#xA0;</td>
<td style="WIDTH: 3%; TEXT-AUTOSPACE: ideograph-numeric">
<font style="FONT-FAMILY: Wingdings 2">&#x2014;</font></td>
<td style="WIDTH: 87%; TEXT-AUTOSPACE: ideograph-numeric">wireless
subscribers directly contract with the carriers, which have most of
the service interaction and are generally viewed as the primary
obligor by the subscribers;</td>
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<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric"><font style="FONT-FAMILY: Wingdings 2">&#x2014;</font></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">carriers generally
have significant control over the types of content that they offer
to their subscribers;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric"><font style="FONT-FAMILY: Wingdings 2">&#x2014;</font></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">carriers are directly
responsible for billing and collecting fees from their subscribers,
including the resolution of billing disputes;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric"><font style="FONT-FAMILY: Wingdings 2">&#x2014;</font></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">carriers generally
pay the Company a fixed percentage of their revenues or a fixed fee
for each game;</td>
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<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
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<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric"><font style="FONT-FAMILY: Wingdings 2">&#x2014;</font></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">carriers generally
must approve the price of the Company&#x2019;s content in advance of
their sale to subscribers, and the Company&#x2019;s more significant
carriers generally have the ability to set the ultimate price
charged to their subscribers; and</td>
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<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric"><font style="FONT-FAMILY: Wingdings 2">&#x2014;</font></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">the Company has
limited risks, including no inventory risk and limited credit
risk.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">For
direct to consumer business, revenue is earned by delivering a
product or service directly to the end user of that product or
service. In those cases, the Company records as revenue the amount
billed to that end user and recognizes the revenue when persuasive
evidence of an arrangement exists, the product, image or game has
been delivered, the fee is fixed or determinable, and the
collection of the resulting receivable is probable. Substantially
all of our discontinued operations represents direct to consumer
business.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Net
(Loss) per Common Share</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="FONT-SIZE: 10pt">Basic loss per common share is
computed by dividing net loss attributable to common stockholders
by the weighted average number of common shares outstanding for the
period. Diluted net loss per share is computed by dividing net loss
attributable to common stockholders by the weighted average number
of common shares outstanding for the period plus dilutive common
stock equivalents, using the treasury stock method. Potentially
dilutive shares</font> <font style="FONT-SIZE: 10pt">from stock
options and warrants and the conversion of the Series A preferred
stock were as follows:</font></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 50%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Year Ended</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">Year Ended</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31,</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">March 31,</td>
<td style="FONT-WEIGHT: bold" nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2012</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap">
&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold" nowrap="nowrap">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2" nowrap="nowrap">2011</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="WIDTH: 70%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Potentially dilutive shares</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">21,943</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">11,992</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Comprehensive Loss</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Comprehensive loss consists of two components, net loss and other
comprehensive income. Other comprehensive income refers to gains
and losses that under generally accepted accounting principles are
recorded as an element of stockholders&#x2019; equity, but are
excluded from net income. The Company&#x2019;s other comprehensive
income currently includes only foreign currency translation
adjustments.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Cash
and Cash Equivalents</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company considers all highly liquid short-term investments
purchased with a maturity of three months or less to be cash
equivalents.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Accounts Receivable</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company maintains reserves for potential credit losses on accounts
receivable. Management reviews the composition of accounts
receivable and analyzes historical bad debts, customer
concentrations, customer credit worthiness, current economic trends
and changes in customer payment patterns to evaluate the adequacy
of these reserves.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Content Provider Licenses</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><i>Content Provider License Fees</i></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company&#x2019;s royalty expenses consist of fees that it pays to
branded content owners for the use of their intellectual property
in the development of the Company&#x2019;s games and other content,
and other expenses directly incurred in earning revenue.
Royalty-based obligations are either, accrued as incurred and
subsequently paid, or in the case of content acquisitions, paid in
advance and capitalized on our balance sheet as prepaid license
fees. These royalty-based obligations are expensed to cost of
revenues either at the applicable contractual rate related to that
revenue or over the estimated life of the content acquired. Minimum
guarantee license payments that are not recoupable against future
royalties are capitalized and amortized over the lesser of the
estimated life of the branded title or the term of the license
agreement.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><i>Content Acquired</i></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Amounts
paid to third party content providers as part of an agreement to
make content available to the Company for a term or in perpetuity,
without a revenue share, have been capitalized and are included in
the balance sheet as prepaid expenses. These balances will be
expensed over the estimated life of the content acquired.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Software Development Costs</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company applies the principles of FASB ASC 985-20, <i>Accounting
for the Costs of Computer Software to Be Sold, Leased, or Otherwise
Marketed</i> (&#x201C;ASC 985-20&#x201D;). ASC 985-20 requires that
software development costs incurred in conjunction with product
development be charged to research and development expense until
technological feasibility is established. Thereafter, until the
product is released for sale, software development costs must be
capitalized and reported at the lower of unamortized cost or net
realizable value of the related product.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company has adopted the &#x201C;tested working model&#x201D; approach
to establishing technological feasibility for its products and
games. Under this approach, the Company does not consider a product
or game in development to have passed the technological feasibility
milestone until the Company has completed a model of the product or
game that contains essentially all the functionality and features
of the final game and has tested the model to ensure that it works
as expected. To date, the Company has not incurred significant
costs between the establishment of technological feasibility and
the release of a product or game for sale; thus, the Company has
expensed all software development costs as incurred. The Company
considers the following factors in determining whether costs can be
capitalized: the emerging nature of the mobile market; the gradual
evolution of the wireless carrier platforms and mobile phones for
which it develops products and games; the lack of pre-orders or
sales history for its products and games; the uncertainty regarding
a product&#x2019;s or game&#x2019;s revenue-generating potential; its
lack of control over the carrier distribution channel resulting in
uncertainty as to when, if ever, a product or game will be
available for sale; and its historical practice of canceling
products and games at any stage of the development process.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Product Development Costs</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company charges costs related to research, design and development
of products to product development expense as incurred. The types
of costs included in product development expenses include salaries,
contractor fees and allocated facilities costs.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Advertising Expenses</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company expenses the costs of advertising, including direct
response advertising, the first time the advertising takes place.
Advertising expense for continuing operations was $7 and $116 in
the years ended March 31, 2012 and 2011, respectively. Advertising
expense for discontinued operations was $0 and $956 in the years
ended March 31, 2012 and 2011, respectively.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Restructuring</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company accounts for costs associated with employee terminations
and other exit activities in accordance with FASB ASC 420-10<i>,
Accounting for Costs Associated with Exit or Disposal
Activities</i>. The Company records employee termination benefits
as an operating expense when it communicates the benefit
arrangement to the employee and it requires no significant future
services, other than a minimum retention period, from the employee
to earn the termination benefits.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Presentation</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
order to facilitate the comparison of financial information,
certain amounts reported in the prior year have been reclassified
to conform to the current year presentation.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Fair
Value of Financial Instruments</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012 and 2011, the carrying value of cash and cash
equivalents, accounts receivable, prepaid expenses and other
current assets, accounts payable, accrued license fees, accrued
compensation, derivative liabilities and other current liabilities
approximates fair value due to the short-term nature of such
instruments.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Derivative Liabilities</b></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
The Company applies ASC Topic 815, &#x201C;Derivatives and
Hedging,&#x201D; which provides a two-step model to determine
whether a financial instrument or an embedded feature is indexed to
an issuer&#x2019;s own stock and thus able to qualify for the scope
exception in ASC 815-10-15-74. Using the criteria in ASC 815, the
Company determines which instruments or embedded features that
require liability accounting and records the fair values as a
derivative liability. The changes in the values of the derivative
liabilities are shown in the accompanying consolidated statements
of operations as &#x201C;change in fair value of accrued derivative
liabilities gain / (loss).&#x201D;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Foreign Currency Translation</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company uses the United States dollar for financial reporting
purposes.&#xA0;&#xA0;Assets and liabilities of foreign operations
are translated using current rates of exchange prevailing at the
balance sheet date. Equity accounts have been translated at their
historical exchange rates when the capital transaction
occurred.&#xA0;&#xA0;Statement of Operations amounts are translated
at average rates in effect for the reporting period. The foreign
currency translation adjustment gains of $97 in the year ended
March 31, 2012 and $128 in the year ended March 31, 2011 has been
reported as a component of comprehensive loss in the consolidated
statements of stockholders&#x2019; equity and comprehensive
income.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Concentrations of Credit Risk</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Financial instruments which potentially subject us to concentration
of credit risk consist principally of cash and cash equivalents,
and accounts receivable. We have placed cash and cash equivalents
with a single high credit-quality institution. Most of our sales
are made directly to large national Mobile Phone Operators in the
countries that we operate. We have a significant level of business
and resulting significant accounts receivable balance with one
operator and therefore have a high concentration of credit risk
with that operator. We perform ongoing credit evaluations of our
customers and maintain an allowance for potential credit losses. As
of March 31, 2012, one major customer represented approximately 39%
of our gross accounts receivable outstanding, and 43% of gross
accounts receivable outstanding as of March 31, 2011. This customer
accounted for 41% of our gross revenues in the year ended March 31,
2012; and 49% in the year ended March 31, 2011.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Property and Equipment</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Property and equipment is stated at cost.&#xA0;&#xA0;Depreciation
and amortization is calculated using the straight-line method over
the estimated useful lives of the related assets. Estimated useful
lives are the lesser of 8 to 10 years or the term of the lease for
leasehold improvements and 5 years for other assets.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Goodwill and Indefinite Life Intangible Assets</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Goodwill represents the excess of cost over fair value of net
assets of businesses acquired. In accordance with FASB ASC 350-20
<i>Goodwill and Other Intangible Assets</i>, the value assigned to
goodwill and indefinite lived intangible assets, including
trademarks and tradenames, is not amortized to expense, but rather
they are evaluated at least on an annual basis to determine if
there are potential impairments. If the fair value of the reporting
unit is less than its carrying value, an impairment loss is
recorded to the extent that the implied fair value of the reporting
unit goodwill is less than the carrying value. If the fair value of
an indefinite lived intangible (such as trademarks and trade names)
is less than its carrying amount, an impairment loss is recorded.
Fair value is determined based on discounted cash flows, market
multiples or appraised values, as appropriate. Discounted cash flow
analysis requires assumptions about the timing and amount of future
cash inflows and outflows, risk, the cost of capital, and terminal
values. Each of these factors can significantly affect the value of
the intangible asset. The estimates of future cash flows, based on
reasonable and supportable assumptions and projections, require
management&#x2019;s judgment. Any changes in key assumptions about
the Company&#x2019;s businesses and their prospects, or changes in
market conditions, could result in an impairment charge. Some of
the more significant estimates and assumptions inherent in the
intangible asset valuation process include: the timing and amount
of projected future cash flows; the discount rate selected to
measure the risks inherent in the future cash flows; and the
assessment of the asset&#x2019;s life cycle and the competitive
trends impacting the asset, including consideration of any
technical, legal or regulatory trends.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In the
year ended March 31, 2012, the Company determined that there was an
impairment of goodwill, amounting to $2,969.&#xA0;&#xA0;In the year
ended March 31, 2011, the Company determined that there was an
impairment of goodwill, amounting to $1,546. In performing the
related valuation analysis, the Company used various valuation
methodologies including probability weighted discounted cash flows,
comparable transaction analysis, and market capitalization and
comparable company multiple comparison. The impairment is detailed
in Note 9 below.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Impairment of Long-Lived Assets and Finite Life
Intangibles</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Long-lived assets, including, intangible assets subject to
amortization primarily consist of customer lists, license
agreements and software that have been acquired are amortized using
the straight-line method over their useful&#xA0;life ranging from
five to eight years and are reviewed for impairment in accordance
with FASB ASC 360-10, <i>Accounting for the Impairment or Disposal
of Long-Lived Assets</i>, whenever events or changes in
circumstances indicate that the carrying amount of an asset may not
be recoverable. Recoverability of assets to be held and used is
measured by a comparison of the carrying amount of an asset to
future undiscounted net cash flows expected to be generated by the
asset. If such assets are considered to be impaired, the impairment
to be recognized is measured by the amount by which the carrying
amount of the assets exceeds the fair value of the assets. Assets
to be disposed of are reported at the lower of the carrying amount
or fair value less costs to sell.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In the
year ended March 31, 2012, the Company determined that there was an
impairment of intangible assets amounting to $2,319. In the year
ended March 31, 2011, the Company determined that there was an
impairment of intangible assets, amounting to $4,482. In performing
the related valuation analysis the Company used various valuation
methodologies including probability weighted discounted cash flows,
comparable transaction analysis, and market capitalization and
comparable company multiple comparison. The impairment is detailed
in Note 9 below.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Income Taxes</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company accounts for income taxes in accordance with FASB ASC
740-10, <i>Accounting for Income Taxes</i> (&#x201C;ASC
740-10&#x201D;), which requires recognition of deferred tax assets
and liabilities for the expected future tax consequences of events
that have been included in its financial statements or tax returns.
Under ASC 740-10, the Company determines deferred tax assets and
liabilities for temporary differences between the financial
reporting basis and the tax basis of assets and liabilities along
with net operating losses, if it is more likely than not the tax
benefits will be realized using the enacted tax rates in effect for
the year in which it expects the differences to
reverse.&#xA0;&#xA0;To the extent a deferred tax asset cannot be
recognized, a valuation allowance is established if necessary.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
ASC 740-10 prescribes that a company should use a
more-likely-than-not recognition threshold based on the technical
merits of the tax position taken. Tax positions that meet the
&#x201C;more-likely-than-not&#x201D; recognition threshold should be
measured as the largest amount of the tax benefits, determined on a
cumulative probability basis, which is more likely than not to be
realized upon ultimate settlement in the financial statements. We
recognize interest and penalties related to income tax matters as a
component of the provision for income taxes. We do not currently
anticipate that the total amount of unrecognized tax benefits will
significantly change within the next 12&#xA0;months.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Stock-based compensation</b><i>.</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">We have
applied FASB ASC 718 <i>Share-Based Payment</i> (&#x201C;ASC
718&#x201D;) and accordingly, we record stock-based compensation
expense for all of our stock-based awards.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Under
ASC 718, we estimate the fair value of stock options granted using
the Black-Scholes option pricing model. The fair value for awards
that are expected to vest is then amortized on a straight-line
basis over the requisite service period of the award, which is
generally the option vesting term. The amount of expense recognized
represents the expense associated with the stock options we expect
to ultimately vest based upon an estimated rate of forfeitures;
this rate of forfeitures is updated as necessary and any
adjustments needed to recognize the fair value of options that
actually vest or are forfeited are recorded.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Black-Scholes option pricing model, used to estimate the fair value
of an award, requires the input of subjective assumptions,
including the expected volatility of our common stock, interest
rates, dividend rates and an option&#x2019;s expected life. As a
result, the financial statements include amounts that are based
upon our best estimates and judgments relating to the expenses
recognized for stock-based compensation.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company grants restricted stock subject to market or performance
conditions that vest based on the satisfaction of the conditions of
the award. Unvested restricted stock entitles the grantees to
dividends, if any, with voting rights determined in each agreement.
The fair market values of market condition-based awards are
determined using the Monte Carlo simulation method. The Monte Carlo
simulation method is subject to variability as several factors
utilized must be estimated, including the derived service period,
which is estimated based on the Company&#x2019;s judgment of likely
future performance and the Company&#x2019;s stock price volatility.
The fair value of performance-based awards is determined using the
market closing price on the grant date. Derived service periods and
the periods charged with compensation expense for performance-based
awards are estimated based on the Company&#x2019;s judgment of
likely future performance and may be adjusted in future periods
depending on actual performance.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Preferred Stock</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company applies the guidance enumerated in FASB ASC&#xA0;480-10,
<i>Accounting for Certain Financial Instruments with
Characteristics of both Liabilities and Equity</i> (&#x201C;ASC
480-10&#x201D;) when determining the classification and measurement
of preferred stock. Preferred shares subject to mandatory
redemption (if any) are classified as liability instruments and are
measured at fair value in accordance with ASC 480-10. All other
issuances of preferred stock are subject to the classification and
measurement principles of ASC 480-10. Accordingly, the Company
classifies conditionally redeemable preferred shares (if any),
which includes preferred shares that feature redemption rights that
are either within the control of the holder or subject to
redemption upon the occurrence of uncertain events not solely
within the Company&#x2019;s control, as temporary equity. At all
other times, the Company classifies its preferred shares in
stockholders&#x2019; equity.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"><b>Use
of Estimates</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
preparation of financial statements in conformity with generally
accepted accounting principles requires management to make
estimates and assumptions that affect the reported amounts of
assets and liabilities and disclosures of contingent asset and
liabilities at the date of the financial statements and reported
amounts of revenue and expenses during the period. Actual results
could differ from those estimates. The most significant estimates
relate to revenues for periods not yet reported by Carriers,
liabilities recorded for future minimum guarantee payments under
content licenses, accounts receivable allowances, and stock-based
compensation expense.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Recently Adopted Accounting Pronouncements</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2010, the FASB issued updated guidance on when and how to
perform certain steps of the periodic goodwill impairment test for
public entities that may have reporting units with zero or negative
carrying amounts. This guidance is effective for fiscal years, and
interim periods within those years, beginning after December 15,
2010, with early adoption prohibited. It is applicable to the
Company&#x2019;s fiscal year beginning April 1, 2011. The Company
evaluated this guidance, and determined it doesn&#x2019;t have a
material effect on its consolidated financial statements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2010, the FASB also issued guidance to clarify the
reporting of pro forma financial information related to business
combinations of public entities and to expand certain supplemental
pro forma disclosures. This guidance is effective prospectively for
business combinations that occur on or after the beginning of the
fiscal year beginning on or after December 15, 2010, with early
adoption permitted. It is applicable to the Company&#x2019;s fiscal
year beginning April 1, 2011. The Company evaluated this guidance,
and determined it doesn&#x2019;t have a material effect on its
consolidated financial statements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In May
2011, the FASB issued guidance to amend certain measurement and
disclosure requirements related to fair value measurements to
improve consistency with international reporting standards. This
guidance is effective prospectively for public entities for interim
and annual reporting periods beginning after December 15, 2011,
with early adoption by public entities prohibited, and is
applicable to the Company&#x2019;s fiscal quarter beginning January
1, 2012. The Company evaluated this guidance, and determined it
doesn&#x2019;t have a material effect on its consolidated financial
statements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
September 2011, the Financial Accounting Standards Board (FASB)
issued amended accounting guidance related to goodwill impairment
testing. The new guidance provides the option to perform a
qualitative assessment by applying a more likely than not scenario
to determine whether the fair value of a reporting unit is less
than its carrying amount, which may then allow a company to skip
the annual two-step quantitative goodwill impairment test depending
on the determination. The amended guidance is effective for annual
and interim goodwill impairment tests performed for fiscal years
beginning after December 15, 2011. Earlier adoption is permitted.
Management does not expect the adoption of the amended guidance to
have a material impact on the Company&#x2019;s consolidated
financial statements. The Company evaluated this guidance, and
determined it doesn&#x2019;t have a material effect on its
consolidated financial statements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Recently Issued Accounting Pronouncements</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In June
2011, the FASB issued new guidance on the presentation of
comprehensive income that will require a company to present
components of net income and other comprehensive income in one
continuous statement or in two separate, but consecutive
statements. There are no changes to the components that are
recognized in net income or other comprehensive income under
current GAAP. This guidance is effective for fiscal years, and
interim periods within those fiscal years, beginning after December
15, 2011, with early adoption permitted. It is applicable to the
Company&#x2019;s fiscal year beginning April 1, 2012. The Company
expects this guidance to have an impact on the disclosures related
to comprehensive income.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Other
recent authoritative guidance issued by the FASB (including
technical corrections to the FASB Accounting Standards
Codification), the American Institute of Certified Public
Accountants, and the SEC did not, or are not expected to have a
material effect on the Company&#x2019;s consolidated financial
statements.</p>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the basis of presentation, or accounting, and significant accounting policies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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<DOCUMENT>
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<SEQUENCE>27
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Liquidity<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiquidityDisclosureTextBlock', window );">Liquidity</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="TEXT-ALIGN: justify; VERTICAL-ALIGN: top">
<td style="WIDTH: 1%"></td>
<td style="TEXT-ALIGN: left; WIDTH: 5%"><b>2.</b></td>
<td style="TEXT-ALIGN: justify; WIDTH: 94%"><b>Liquidity</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
accompanying consolidated financial statements have been prepared
in conformity with accounting principles generally accepted in the
United States of America. As reflected in the accompanying
consolidated financial statements, the Company has losses from
operations and negative cash flows from operations.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
primary sources of liquidity have historically been issuance of
common and preferred stock and borrowings under credit facilities.
In fiscal year 2012, the Company raised $9.7 million through
issuance of convertible debt and equity financings and through
restructuring existing debt to convertible debt. Until we become
cash flow positive, we anticipate that our primary sources of
liquidity will be cash generated by our operating activities, as
well as further borrowings or further capital raises. Assuming
there are no further changes in expected sales and expense trends
subsequent to March 31, 2012, the Company believes that its cash
position will be sufficient to continue operations for the
foreseeable next twelve months.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiquidityDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiquidityDisclosureTextBlock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EQEAG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Consolidated Balance Sheets (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
        <td class="nump">$ 8,799<span></span></td>
        <td class="nump">$ 845<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net of allowances of $108 and $96, respectively</a></td>
        <td class="nump">1,190<span></span></td>
        <td class="nump">2,699<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">120<span></span></td>
        <td class="nump">296<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">10,109<span></span></td>
        <td class="nump">3,840<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
        <td class="nump">230<span></span></td>
        <td class="nump">388<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IntangibleAssetsNetExcludingGoodwill', window );">Intangible assets, net</a></td>
        <td class="nump">817<span></span></td>
        <td class="nump">3,366<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill</a></td>
        <td class="nump">3,640<span></span></td>
        <td class="nump">6,609<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
        <td class="nump">14,796<span></span></td>
        <td class="nump">14,203<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
        <td class="nump">3,051<span></span></td>
        <td class="nump">3,807<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Accrued license fees</a></td>
        <td class="nump">1,155<span></span></td>
        <td class="nump">1,189<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Accrued compensation</a></td>
        <td class="nump">582<span></span></td>
        <td class="nump">371<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtCurrent', window );">Current portion of long term debt</a></td>
        <td class="nump">75<span></span></td>
        <td class="nump">273<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Warrant derivative liabilities</a></td>
        <td class="nump">452<span></span></td>
        <td class="nump">223<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Other current liabilities</a></td>
        <td class="nump">705<span></span></td>
        <td class="nump">1,261<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">6,020<span></span></td>
        <td class="nump">7,124<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtNoncurrent', window );">Long term debt and convertible debt, net of discounts of $2,147 and $1,856, respectively</a></td>
        <td class="nump">3,077<span></span></td>
        <td class="nump">4,461<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
        <td class="nump">9,097<span></span></td>
        <td class="nump">11,585<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock Series A convertible preferred stock at $0.0001 par value; 100,000 shares authorized, issued and outstanding (liquidation preference of $1,000,000)</a></td>
        <td class="nump">100<span></span></td>
        <td class="nump">100<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.0001 par value: 100,000,000 shares authorized; 82,656,945 issued and 76,581,945 outstanding at March 31, 2012; 45,047,224 issued and 41,274,225 outstanding at March 31, 2011;</a></td>
        <td class="nump">7<span></span></td>
        <td class="nump">4<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump">133,300<span></span></td>
        <td class="nump">99,612<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury Stock (3,772,999 shares at March 31, 2012 and 2011)</a></td>
        <td class="num">(71)<span></span></td>
        <td class="num">(71)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss</a></td>
        <td class="num">(194)<span></span></td>
        <td class="num">(291)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
        <td class="num">(127,443)<span></span></td>
        <td class="num">(96,736)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
        <td class="nump">5,699<span></span></td>
        <td class="nump">2,618<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</a></td>
        <td class="nump">$ 14,796<span></span></td>
        <td class="nump">$ 14,203<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e653-108580<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 130<br><br><br><br> -Paragraph 14, 17, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Staff Position (FSP)<br><br><br><br> -Number FAS115-1/124-1<br><br><br><br> -Paragraph 15D<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e637-108580<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e681-108580<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br> -Section S99<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Publisher FASB<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Concepts (CON)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 25<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7<br><br><br><br> -Footnote 1<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 8, 9<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 95<br><br><br><br> -Paragraph 7, 26<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Staff Position (FSP)<br><br><br><br> -Number FIN39-1<br><br><br><br> -Paragraph 10A, 10B<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 133<br><br><br><br> -Paragraph 4, 17<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13433-108611<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13495-108611<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DerivativeLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeRelatedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeRelatedLiabilitiesCurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 45<br><br><br><br> -Subparagraph e<br><br><br><br> -Clause 1<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 43<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 141R<br><br><br><br> -Paragraph 68<br><br><br><br> -Subparagraph l<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 45<br><br><br><br> -Subparagraph e<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 141R<br><br><br><br> -Paragraph 34<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905597&amp;loc=d3e13816-109267<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388280&amp;loc=d3e13770-109266<br><br><br><br><br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 141R<br><br><br><br> -Paragraph 72<br><br><br><br> -Subparagraph d<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Goodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IntangibleAssetsNetExcludingGoodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 142<br><br><br><br> -Paragraph 42, 45<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph ((a)(1),(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16323-109275<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16212-109274<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IntangibleAssetsNetExcludingGoodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of the portions of the carrying amounts as of the balance sheet date of long-term debt, which may include notes payable, bonds payable, debentures, mortgage loans, and commercial paper, which are scheduled to be repaid within one year or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying values as of the balance sheet date of all long-term debt, which is debt initially having maturities due after one year from the balance sheet date or beyond the operating cycle, if longer, but excluding the portions thereof scheduled to be repaid within one year (current maturities) or the normal operating cycle, if longer, and after deducting unamortized discount or premiums, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermDebtNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 7<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6911-107765<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e7018-107765<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed in the balance sheet.  Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6911-107765<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6904-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Chapter 3<br><br><br><br> -Section A<br><br><br><br> -Paragraph 8<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 6<br><br><br><br> -Paragraph 15<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherLiabilitiesCurrent</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 129<br><br><br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 5<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockValue</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 43<br><br><br><br> -Section A<br><br><br><br> -Paragraph 4<br><br><br><br> -Chapter 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Section 45<br><br><br><br> -SubTopic 10<br><br><br><br> -Topic 210<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Paragraph 1<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseAndOtherAssetsCurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tangible assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. 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.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 7<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 5<br><br><br><br> -Subparagraph b, c<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Principles Board Opinion (APB)<br><br><br><br> -Number 12<br><br><br><br> -Paragraph 10<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAccumulatedDeficit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher AICPA<br><br><br><br> -Name Accounting Research Bulletin (ARB)<br><br><br><br> -Number 51<br><br><br><br> -Paragraph A3<br><br><br><br> -Appendix A<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name FASB Technical Bulletin (FTB)<br><br><br><br> -Number 85-6<br><br><br><br> -Paragraph 3<br><br><br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValue</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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<html>
  <head>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EPIAI">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Consolidated Statements of Cash Flows (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (loss)/income</a></td>
        <td class="num">$ (30,707)<span></span></td>
        <td class="num">$ (9,384)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income/(loss) to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationAmountOfOtherIncomeLossFromDispositionOfDiscontinuedOperationNetOfTax', window );">Gain on disposal of discontinued operations, net of taxes, net of impact of foreign currency translation</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(4,215)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump">429<span></span></td>
        <td class="nump">638<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDebtDiscountPremium', window );">Amortization of debt discount</a></td>
        <td class="nump">9,709<span></span></td>
        <td class="nump">644<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_GainLossOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
        <td class="num">(2,004)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_GainsLossesOnExchangeOfDebt', window );">Settled debt with supplier</a></td>
        <td class="num">(1,393)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_AdjustmentOtherCharges', window );">Finance costs</a></td>
        <td class="nump">1,194<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaidInKindInterest', window );">PIK interest expense</a></td>
        <td class="nump">575<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_ProvisionForReductionOfDoubtfulAccounts', window );">Allowance for doubtful accounts</a></td>
        <td class="num">(12)<span></span></td>
        <td class="num">(307)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">326<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetImpairment', window );">Impairment of goodwill and intangibles</a></td>
        <td class="nump">5,288<span></span></td>
        <td class="nump">6,028<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Fair Value of warrants and conversion options issued for financing costs</a></td>
        <td class="nump">1,255<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDerivativeLiabilities', window );">Change in fair value of derivative liabilities</a></td>
        <td class="nump">4,447<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingAssetsAbstract', window );"><strong>(Increase) / decrease in assets, net of effect of disposal of subsidiary:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
        <td class="nump">1,521<span></span></td>
        <td class="nump">3,303<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
        <td class="nump">176<span></span></td>
        <td class="nump">160<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract', window );"><strong>Increase / (decrease) in liabilities, net of effect of disposal of subsidiary:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayable', window );">Accounts payable</a></td>
        <td class="nump">637<span></span></td>
        <td class="num">(497)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities', window );">Accrued license fees</a></td>
        <td class="num">(34)<span></span></td>
        <td class="num">(625)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities', window );">Accrued compensation</a></td>
        <td class="nump">211<span></span></td>
        <td class="num">(166)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities', window );">Other liabilities and other items</a></td>
        <td class="num">(556)<span></span></td>
        <td class="num">(224)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities</a></td>
        <td class="num">(1,829)<span></span></td>
        <td class="num">(1,909)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromProductiveAssets', window );">Purchase of property and equipment</a></td>
        <td class="num">(17)<span></span></td>
        <td class="num">(88)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForProceedsFromOtherInvestingActivities', window );">Transaction costs</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(906)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired', window );">Cash remaining with disposed subsidiary</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(641)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
        <td class="num">(17)<span></span></td>
        <td class="num">(1,635)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromConvertibleDebt', window );">Proceeds from new convertible debt</a></td>
        <td class="nump">7,000<span></span></td>
        <td class="nump">2,500<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Issuance of shares for cash</a></td>
        <td class="nump">2,700<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
        <td class="nump">9,700<span></span></td>
        <td class="nump">2,500<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents', window );">Effect of exchange rate changes on cash and cash equivalents</a></td>
        <td class="nump">100<span></span></td>
        <td class="num">(2)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net change in cash and cash equivalents</a></td>
        <td class="nump">7,954<span></span></td>
        <td class="num">(1,046)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, beginning of period</a></td>
        <td class="nump">845<span></span></td>
        <td class="nump">1,891<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, end of period</a></td>
        <td class="nump">8,799<span></span></td>
        <td class="nump">845<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowElementsAbstract', window );"><strong>Supplemental disclosure of cash flow information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaid', window );">Taxes paid</a></td>
        <td class="nump">119<span></span></td>
        <td class="nump">226<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Interest paid</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1,763<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Supplemental disclosure of non-cash investing and financing activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_ConversionOfAccountsAndAccruedLiabilitiesToCommonStock', window );">Conversion of convertible note and interest to shares of common stock</a></td>
        <td class="nump">8,852<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_SupplementalIssuanceOfWarrantLiability', window );">Issuance of warrants with convertible debenture</a></td>
        <td class="nump">4,636<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_ExtinguishmentOfDebentureInExchangeForConvertibleDebenture', window );">Beneficial conversion feature associated with convertible debenture</a></td>
        <td class="nump">8,915<span></span></td>
        <td class="nump">1,496<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital', window );">Reclassify derivative liability to additional paid in capital</a></td>
        <td class="nump">13,786<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Vendor</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income/(loss) to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims', window );">Warrants and Stock issued for services</a></td>
        <td class="nump">133<span></span></td>
        <td class="nump">76<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Services</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income/(loss) to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims', window );">Warrants and Stock issued for services</a></td>
        <td class="nump">7,302<span></span></td>
        <td class="nump">2,049<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Options and Compensation</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income/(loss) to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashExpense', window );">Repricing</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">113<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrant derivative</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income/(loss) to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashExpense', window );">Repricing</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 172<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_AdjustmentOtherCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment - Other Charges not otherwise defined</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_AdjustmentOtherCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_ConversionOfAccountsAndAccruedLiabilitiesToCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Conversion Of Accounts And Accrued Liabilities To Common Stock</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_ConversionOfAccountsAndAccruedLiabilitiesToCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_ExtinguishmentOfDebentureInExchangeForConvertibleDebenture">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Extinguishment Of Debenture In Exchange For Convertible Debenture</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_ExtinguishmentOfDebentureInExchangeForConvertibleDebenture</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_GainLossOnExtinguishmentOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gain (Loss) On Extinguishment Of Debt</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_GainLossOnExtinguishmentOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_GainsLossesOnExchangeOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gains (Losses) on Exchange of Debt</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_GainsLossesOnExchangeOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_ProvisionForReductionOfDoubtfulAccounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Provision for change in Allowance for Doubtful Accounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_ProvisionForReductionOfDoubtfulAccounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reclassification Of Derivative Liabilities To Additional Paid In Capital</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_ReclassificationOfDerivativeLiabilitiesToAdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_SupplementalIssuanceOfWarrantLiability">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Supplemental Issuance of Warrant Liability</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_SupplementalIssuanceOfWarrantLiability</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDebtDiscountPremium">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate caption: Noncash Interest Expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.8)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 21<br><br> -Paragraph 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 8<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 1A<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfDebtDiscountPremium</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7<br><br> -Footnote 1<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3044-108585<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 8, 9<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361293&amp;loc=d3e6676-107765<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 7, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepreciationAndAmortization</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationAmountOfOtherIncomeLossFromDispositionOfDiscontinuedOperationNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other income (loss) amounts, net of tax expense or benefit, relating to a disposal group that is classified as a component of the entity, exclusive of the following elsewhere enumerated categories: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationAmountOfOtherIncomeLossFromDispositionOfDiscontinuedOperationNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The effect of exchange rate changes on cash balances held in foreign currencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 25<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetImpairment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total loss recognized during the period from the impairment of goodwill plus the loss recognized in the period resulting from the impairment of the carrying amount of intangible assets, other than goodwill.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GoodwillAndIntangibleAssetImpairment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (f)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 27<br><br> -Subparagraph f<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxesPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDerivativeLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the period in the carrying value of derivative instruments reported as liabilities that are due to be disposed of within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDerivativeLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the aggregate amount of obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingAssetsAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOperatingAssetsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other expenses incurred but not yet paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherAccruedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other liabilities used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current liabilities, other noncurrent liabilities, or a combination of other current and noncurrent liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherOperatingLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets,or  income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The fair value of restricted stock or stock options granted to nonemployees as payment for services rendered or acknowledged claims.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from financing activity for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivities</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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            </div>
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        </tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from investing activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
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            </div>
          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3536-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivities</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
      </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other expenses or losses included in net income that result in no cash outflows or inflows in the period and are not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNoncashExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaidInKindInterest">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Interest paid other than in cash for example by issuing additional debt securities. As a noncash item, it is added to net income when calculating cash provided by or used in operations using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaidInKindInterest</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForProceedsFromOtherInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3095-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3098-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForProceedsFromOtherInvestingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash outflow or inflow from purchases, sales and disposals of property, plant and equipment and other productive assets, including intangibles.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForProceedsFromProductiveAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 15, 17<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromConvertibleDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the issuance of a long-term debt instrument which can be exchanged for a specified amount of another security, typically the entity's common stock, at the option of the issuer or the holder.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromConvertibleDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the additional capital contribution to the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 18<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 19<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SupplementalCashFlowElementsAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
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                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivatives">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_UnrealizedGainLossOnDerivatives</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
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          <div>Mar. 31, 2012</div>
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<td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>16.</b></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Commitments and Contingencies</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Operating Lease Obligations</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company leases office facilities and equipment under noncancelable
operating leases expiring in various years through 2014.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Following is a summary of future minimum payments under initial
terms of leases as of:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Year Ending March 31,</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 0.5in; WIDTH: 84%">
2013</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">32</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.5in">
2014</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
5</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Total minimum
lease payments</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
37</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">These
amounts do not reflect future escalations for real estate taxes and
building operating expenses.&#xA0;&#xA0;Rental expense for
continuing operations amounted to $170 and $291, respectively, for
the years ended March 31, 2012 and&#xA0;2011.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Other Obligations</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, the Company was obligated for payments under
various distribution agreements, equipment lease agreements,
employment contracts and consulting agreements with initial terms
greater than one year at March 31, 2012.&#xA0;&#xA0;Annual payments
relating to these commitments at March 31, 2012 are as follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Year Ending March 31,</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0.5in; WIDTH: 84%">
2013</td>
<td style="PADDING-BOTTOM: 1pt; WIDTH: 2%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 12%">
1,108</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Total minimum
payments</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1,108</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 28, 2011, the Company entered into an employment agreement
with Peter Adderton to serve as the Company&#x2019;s Chief Executive
Officer and as a member of the Company&#x2019;s Board of
Directors.&#xA0; The term of the agreement is one year.&#xA0;
Pursuant to the agreement, the Company agreed to the following:</p>
<p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Annual Fees: For all services rendered by the Chief Executive
Officer under this agreement, the Company shall pay the Executive
an aggregate fee of four hundred fifty thousand dollars ($450,000)
per annum.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Special Incentive Bonus:&#xA0; Mr. Adderton&#xA0; is to receive
a bonus of $250,000 payable (A) 50% upon completion of a $5 million
financing(s) during the two years following the date of the
employment agreement (&#x201C;Measurement Period&#x201D;)&#xA0; and
(B) the remaining $125,000 upon the successful completion of
additional debt or equity financing(s) during the Measurement
Period, which, when aggregated with any prior financings during the
Measurement Period, result in the Company realizing at least $10
million of gross proceeds.</td>
</tr>
</table>
<p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Annual Bonus:&#xA0; Mr. Adderton shall be entitled to be paid
an annual incentive bonus in cash in an amount of up to 100% of his
salary based upon satisfaction of performance-related milestones.
The performance-related milestones shall be mutually determined by
the Board of Directors and Mr. Adderton within sixty (60) days of
the effective Date of the employment agreement.</td>
</tr>
</table>
<p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Restricted Stock Grant: The Company granted Mr. Adderton
9,037,500 shares of the Company&#x2019;s restricted common stock,
subject to the certain terms and conditions specified in the
restricted stock agreement, which shall vest as follows: (i) one
third (1/3) shall vest immediately upon the completion of one or
more debt or equity financings during the Measurement Period in
favor of the Company&#xA0; of gross proceeds of at least $5
million; (ii) one third (1/3) shall vest immediately if on any date
during the Measurement Period the Company&#x2019;s total enterprise
value (computed by multiplying the number of outstanding shares of
the Employer&#x2019;s common stock on a fully diluted (taking into
account only those stock options that are in-the-money on such
date), as-converted basis by the average daily trading price for
the Company&#x2019;s common stock for the thirty (30) trading day
period immediately preceding the date of determination) equals or
exceeds $100 million; and (iii) one third (1/3) shall vest
immediately if on any date during the Measurement Period the
Company&#x2019;s total enterprise value (calculated as set forth in
clause (ii) above) equals or exceeds $200 million; provided ,
however , that all unvested shares of restricted common stock shall
vest immediately upon the sale of all or substantially all of the
assets of the Company, upon the merger or reorganization of the
Company following which the equity holders of the Company
immediately prior to the consummation of such merger or
reorganization collectively own less than 50% of the voting power
of the resulting entity, or upon the sale of equity securities of
the Company representing 50% or more of the voting power of the
Company or 50% or more of the economic interest in the Company in a
single transaction or in a series of related transactions (i.e., a
&#x201C;Change of Control&#x201D;). All shares shall be subject to a
one (1) year lock-up following the vesting of such shares.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Additional Performance Bonuses:&#xA0; Mr. Adderton shall be
entitled to payment of (i) a performance bonus equal to $2.5
million in cash or registered and freely tradable stock of the
Company, at Mr. Adderton&#x2019;s choice, if, on any date during the
Measurement Period the Company&#x2019;s total enterprise value
(calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $150 million; and (ii) payment of a performance bonus equal
to $10 million in cash or registered and freely tradable stock of
the Company, at Mr.&#xA0; Adderton&#x2019;s choice, if, on any date
during the Measurement Period, the Company&#x2019;s total enterprise
value (calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $1 billion. Any bonus payable under this subsection (f)
shall vest upon the achievement of the specified criteria and shall
be paid on or within thirty (30) days of such vesting date.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company entered into an agreement with Robert Ellin to serve as the
Company&#x2019;s&#xA0;Executive Chairman.&#xA0; The term of the
agreement is one year.&#xA0; Pursuant to the agreement, the Company
agreed to the following:</p>
<p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Annual Fees: For all services rendered by the Chairman under
this agreement, the Company shall pay the Chairman an aggregate fee
of four hundred fifty thousand dollars ($450,000) per annum.</td>
</tr>
</table>
<p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Annual Bonus:&#xA0; Mr. Ellin shall be entitled to be paid an
annual incentive bonus in cash in an amount of up to 100% of his
salary based upon satisfaction of performance-related milestones.
The performance-related milestones shall be mutually determined by
the Board of Directors and Mr. Ellin within sixty (60) days of the
effective Date of the employment agreement.</td>
</tr>
</table>
<p style="TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Restricted Stock Grant: The Company granted Mr. Ellin 3,400,000
shares of the Company&#x2019;s restricted common stock, subject to
the certain terms and conditions specified in the restricted stock
agreement, which shall vest as follows: (i) one third (1/3) shall
vest immediately upon the completion of one or more debt or equity
financings during the Measurement Period in favor of the
Company&#xA0; of gross proceeds of at least $5 million; (ii) one
third (1/3) shall vest immediately if on any date during the
Measurement Period the Company&#x2019;s total enterprise value
(computed by multiplying the number of outstanding shares of the
Employer&#x2019;s common stock on a fully diluted (taking into
account only those stock options that are in-the-money on such
date), as-converted basis by the average daily trading price for
the Company&#x2019;s common stock for the thirty (30) trading day
period immediately preceding the date of determination) equals or
exceeds $100 million; and (iii) one third (1/3) shall vest
immediately if on any date during the Measurement Period the
Company&#x2019;s total enterprise value (calculated as set forth in
clause (ii) above) equals or exceeds $200 million; provided ,
however , that all unvested shares of restricted common stock shall
vest immediately upon the sale of all or substantially all of the
assets of the Company, upon the merger or reorganization of the
Company following which the equity holders of the Company
immediately prior to the consummation of such merger or
reorganization collectively own less than 50% of the voting power
of the resulting entity, or upon the sale of equity securities of
the Company representing 50% or more of the voting power of the
Company or 50% or more of the economic interest in the Company in a
single transaction or in a series of related transactions (i.e., a
&#x201C;Change of Control&#x201D;). All shares shall be subject to a
one (1) year lock-up following the vesting of such shares.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Additional Performance Bonuses:&#xA0; Mr. Ellin shall be
entitled to payment of (i) a performance bonus equal to $1.5
million in cash or registered and freely tradable stock of the
Company, at Mr. Ellin&#x2019;s choice, if, on any date during the
Measurement Period the Company&#x2019;s total enterprise value
(calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $150 million; and (ii) payment of a performance bonus equal
to $3.3 million in cash or registered and freely tradable stock of
the Company, at Mr.&#xA0; Ellin&#x2019;s choice, if, on any date
during the Measurement Period, the Company&#x2019;s total enterprise
value (calculated as set forth in Section 4(e)(ii) above) equals or
exceeds $1 billion. Any bonus payable under this subsection (f)
shall vest upon the achievement of the specified criteria and shall
be paid on or within thirty (30) days of such vesting date.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Litigation</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Twistbox&#x2019;s wholly owned subsidiary, WAAT Media Corp.
(&#x201C;WAAT&#x201D;) and General Media Communications, Inc.
(&#x201C;GMCI&#x201D;) were parties to a content license agreement
dated May 30, 2006, whereby GMCI granted to WAAT certain exclusive
rights to exploit GMCI branded content via mobile devices. GMCI
terminated the agreement on January 26, 2009 based on its claim
that WAAT failed to cure a material breach pertaining to the
non-payment of a minimum royalty guarantee installment in the
amount of $485. On or about March 16, 2009, GMCI filed a complaint
seeking the balance of the minimum guarantee payments due under the
agreement in the approximate amount of $4,085. WAAT counter-sued
claiming GMCI was not entitled to the claimed amount and that it
had breached the agreement by, among other things, failing to
promote, market and advertise the mobile services as required under
the agreement and by fraudulently inducing WAAT to enter into the
agreement based on GMCI&#x2019;s repeated assurances of its
intention to reinvigorate its flagship brand. GMCI filed a demurrer
to the counter-claim. WAAT subsequently filed an amended
counter-claim. On August 16, 2011, the LA Superior Court ruled in
favor of WAAT&#x2019;s Summary Judgment Motion. As a result,
GMCI&#x2019;s potential damages were limited to the amount of
minimum royalty installments that accrued prior to termination of
the content license agreement in the amount of approximately $800.
Trial had been scheduled for April 16, 2012, however on December
22, 2011 the parties agreed to a settlement of $300 in favor of
GMCI, pursuant to which WAAT will be required to pay GMCI $300 over
a 30 month period, beginning December 28, 2011. As of March 31,
2012 the Company has accrued $260, which is included in Accounts
Payable on the balance sheet.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
March 6, 2012 the Company received a notice of levy in the amount
of $73 pertaining to a dispute with a service provider. The Company
has recorded the full amount in Accounts Payable on the
consolidated balance sheet.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On May
4, 2012 the Company received notice of a judgment in the amount of
&#xA3;23 pertaining to a dispute with a previous employee. The
Company has recorded the full amount in Accrued Compensation on the
consolidated balance sheet.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company is subject to various claims and legal proceedings arising
in the normal course of business. Based on the opinion of the
Company&#x2019;s legal counsel, management believes that the
ultimate liability, if any in the aggregate of other claims will
not be material to the financial position or results of operations
of the Company for any future period; and no liability has been
accrued.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for commitments and contingencies.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14435-108349<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 460<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6398077&amp;loc=d3e12565-110249<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Interpretation (FIN)<br><br> -Number 14<br><br> -Paragraph 3<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 440<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 9, 10, 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.25)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsAndContingenciesDisclosureTextBlock</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>31
<FILENAME>0001144204-12-037402-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Organization<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Organization</a></td>
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<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>1.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Organization</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Mandalay Digital Group, Inc. (&#x201C;we&#x201D;, &#x201C;us&#x201D;,
&#x201C;our&#x201D;, the &#x201C;Company&#x201D; or &#x201C;Mandalay
Digital&#x201D;), formerly NeuMedia, Inc. (&#x201C;NeuMedia&#x201D;),
formerly Mandalay Media, Inc. (&#x201C;Mandalay Media&#x201D;) and
formerly Mediavest, Inc. (&#x201C;Mediavest&#x201D;), was originally
incorporated in the state of Delaware on November 6, 1998 under the
name eB2B Commerce, Inc. On April 27, 2000, it merged into
DynamicWeb Enterprises Inc., a New Jersey corporation, the
surviving company, and changed its name to eB2B Commerce, Inc. On
April 13, 2005, the Company changed its name to Mediavest,
Inc.&#xA0;&#xA0;Through January 26, 2005, the Company and its
former subsidiaries were engaged in providing business-to-business
transaction management services designed to simplify trading
between buyers and suppliers. The Company was inactive from January
26, 2005 until its merger with Twistbox Entertainment, Inc.,
February 12, 2008.&#xA0;&#xA0;On September 14, 2007, Mediavest was
re-incorporated in the state of Delaware as Mandalay Media, Inc. On
May 11, 2010 the Company merged with a wholly-owned, newly formed
subsidiary, changing its name to NeuMedia, Inc. On February 6,
2012, the Company merged with a wholly-owned, newly formed
subsidiary, changing its name to Mandalay Digital Group, Inc.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Twistbox is a global publisher and distributor of branded
entertainment content and services primarily focused on enabling
the development, distribution and billing of content across mobile
networks.&#xA0;&#xA0;Twistbox publishes and distributes its content
in a number of countries.&#xA0;&#xA0;Since operations began in
2003, Twistbox has developed an intellectual property portfolio
that includes mobile rights to global brands and content from film,
television and lifestyle media companies. Twistbox has built a
proprietary mobile publishing platform that includes: tools that
automate device management for the distribution and billing of
images and video; a mobile games development and distribution
platform that automates the porting of mobile games and
applications to multiple handsets; and a content standards and
ratings system globally adopted by major wireless carriers to
assist with the responsible deployment of age-verified
content.&#xA0;&#xA0;Twistbox has distribution and service
agreements with many of the largest mobile operators in the
world.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Twistbox is headquartered in the Los Angeles area and has offices
in Europe that provide local sales and marketing support for both
mobile operators and third party distribution in their respective
regions.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
October 23, 2008 the Company completed an acquisition of 100% of
the issued and outstanding share capital of AMV Holding Limited, a
United Kingdom private limited company (&#x201C;AMV&#x201D;), and 80%
of the issued and outstanding share capital of Fierce Media Ltd
(&#x201C;Fierce&#x201D;).</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">AMV is
a leading mobile media and marketing company delivering games and
lifestyle content directly to consumers in the United Kingdom,
Australia, South Africa and various other European countries. AMV
markets its well established branded services through a unique
Customer Relationship Management platform that drives revenue
through mobile internet, print and TV advertising. AMV is
headquartered in Marlow, outside of London in the United
Kingdom.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On May
10, 2010, an administrator was appointed over AMV Holding Limited
in the UK, at the request of the Company&#x2019;s senior debt
holder. As from that date, AMV and its subsidiaries&#xA0;are
considered to be a discontinued operation. AMV and its subsidiaries
were subsequently disposed, as set out in Note 8 below.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On May
11, 2010, Mandalay Media merged into its wholly-owned, newly formed
subsidiary, NeuMedia Inc. (&#x201C;NeuMedia&#x201D;), with NeuMedia
as the surviving corporation. NeuMedia issued: (1) one new share of
common stock&#xA0;in exchange for each share of Mandalay
Media&#x2019;s outstanding common stock and (2) one new share of
preferred stock&#xA0;in exchange for each share of Mandalay
Media&#x2019;s outstanding preferred stock as of May 11, 2010.
NeuMedia&#x2019;s preferred and common stock&#xA0;had the same
status and par value as the respective stock of Mandalay Media and
NeuMedia acceded to all the rights, acquired all the assets and
assumed all of the liabilities of Mandalay Media.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On June
21, 2010, the Company signed and closed an agreement whereby
ValueAct and the AMV Founders, acting through a newly formed
company, acquired the operating subsidiaries of AMV (the
&#x201C;Assets&#x201D;) in exchange for the release of $23,231 of
secured indebtedness, comprising of a release of all amounts due
and payable under the AMV Note and all of the amounts due and
payable under the ValueAct Note (as defined below) except for
$3,500 in principal. The Company retained all assets and
liabilities of Twistbox and the Company other than the Assets. See
Note 8 for further discussion on the discontinued operations.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 28, 2011, the Company issued 50,000 shares of the
Company&#x2019;s common stock as part of the consideration for in
exchange for the assets of Digital Turbine Group, LLC, the
developer of Digital Turbine (&#x201C;DT&#x201D;), a technology
platform that allows media companies, mobile carriers, and their
OEM handset partners to take advantage of multiple mobile operating
systems across multiple networks, and offers solutions that allow
them to maintain their own branding and personalized, one-to-one
relationships with each end-user. DT&#x2019;s cross-platform user
interface and multimedia management system for carriers and OEMs
can be integrated with different operating systems to provide a
more organized and unified experience for end-users of mobile
content across search, discovery, billing, and delivery. Other
aspects of the platform, such as a smart content discovery toolbar,
allows carriers and OEMs to control the data presented to their
users while giving the end-user a more efficient way of finding and
purchasing the desired content.</p>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Name Statement of Position (SOP)<br><br> -Publisher AICPA<br><br> -Number 94-6<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6003-108592<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NatureOfOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>nonnum:textBlockItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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<SEQUENCE>34
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EXEAE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Consolidated Balance Sheets (Parenthetical) (USD $)<br></strong></div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2011</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Accounts receivable, allowances</a></td>
        <td class="nump">$ 108,000<span></span></td>
        <td class="nump">$ 96,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_DebtInstrumentUnamortizedDiscountNoncurrent', window );">Long term debt and convertible debt, discounts</a></td>
        <td class="nump">2,147,000<span></span></td>
        <td class="nump">1,856,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Series A convertible preferred stock, par value</a></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="nump">$ 0.0001<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Series A convertible preferred stock, shares authorized</a></td>
        <td class="nump">100,000<span></span></td>
        <td class="nump">100,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Series A convertible preferred stock, shares issued</a></td>
        <td class="nump">100,000<span></span></td>
        <td class="nump">100,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Series A convertible preferred stock, shares outstanding</a></td>
        <td class="nump">100,000<span></span></td>
        <td class="nump">100,000<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_PreferredStockLiquidationPreferenceValue', window );">Series A convertible preferred stock, liquidation preference</a></td>
        <td class="nump">$ 1,000,000<span></span></td>
        <td class="nump">$ 1,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value</a></td>
        <td class="nump">$ 0.0001<span></span></td>
        <td class="nump">$ 0.0001<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
        <td class="nump">100,000,000<span></span></td>
        <td class="nump">100,000,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, issued</a></td>
        <td class="nump">82,656,945<span></span></td>
        <td class="nump">45,047,224<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common stock, outstanding</a></td>
        <td class="nump">76,581,945<span></span></td>
        <td class="nump">41,274,225<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockShares', window );">Treasury Stock, shares</a></td>
        <td class="nump">3,772,999<span></span></td>
        <td class="nump">3,772,999<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_DebtInstrumentUnamortizedDiscountNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Debt Instrument, Unamortized Discount, Noncurrent</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_DebtInstrumentUnamortizedDiscountNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_PreferredStockLiquidationPreferenceValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate liquidation preference (or restrictions) of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) that has a preference in involuntary liquidation considerably in excess of the par or stated value of the shares. The liquidation preference is the difference between the preference in liquidation and the par or stated values of the share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_PreferredStockLiquidationPreferenceValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 4<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6965416&amp;loc=d3e5074-111524<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value of common stock per share; generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockSharesOutstanding</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer); generally not indicative of the fair market value per share.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockParOrStatedValuePerShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 02<br><br> -Paragraph 29<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TreasuryStockShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Related Party Transactions<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Related Party Transactions</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; FONT-FAMILY: Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center">
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&#xA0;</td>
<td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<b>11.</b></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt; FONT-WEIGHT: bold">
<b>Related Party Transactions</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company engages in various business relationships with shareholders
and officers and their related entities. The significant
relationships are disclosed below.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
September 14, 2006, the Company entered into a five year management
agreement (&#x201C;Agreement&#x201D;) with Trinad Management, the
manager of Trinad Capital Master Fund, which is one of our
principal stockholders. In addition, Robert Ellin, our director, is
the managing director of and portfolio manager for Trinad
Management. Pursuant to the terms of the Agreement, Trinad
Management provides certain management services, including, without
limitation, relating to the sourcing, structuring and negotiation
of a potential business combination transaction involving the
Company in exchange for a fee of $90 per quarter, plus
reimbursements of all related expenses reasonably incurred. The
Agreement expired on September 14, 2011, but was extended to
December 31, 2011. During the years ended March 31, 2012 and 2011,
the Company incurred management fees under the agreement of $270
and $360, respectively. At March 31, 2012 and March 31, 2011, the
accrued payable to Trinad Management was $135 and $180,
respectively.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 3A<br><br> -Section 04<br><br> -Paragraph b<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 57<br><br> -Paragraph 1-4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph k<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 850<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EVUAE">
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          <div style="width: 200px;"><strong>Document and Entity Information (USD $)<br></strong></div>
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          <div>Mar. 31, 2012</div>
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          <div>Jun. 15, 2012</div>
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          <div>Sep. 30, 2011</div>
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                <p>If the value is true, then the document as an amendment to previously-filed/accepted document.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>End date of current fiscal year in the format --MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p>
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                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>The type of document being provided (such as 10-K, 10-Q, N-1A, etc). The document type is limited to the same value as the supporting SEC submission type, minus any "/A" suffix. The acceptable values are as follows: S-1, S-3, S-4, S-11, F-1, F-3, F-4, F-9, F-10, 6-K, 8-K, 10, 10-K, 10-Q, 20-F, 40-F, N-1A, 485BPOS, 497, NCSR, N-CSR, N-CSRS, N-Q, 10-KT, 10-QT, 20-FT, POS AM and Other.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_DocumentType</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:submissionTypeItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCentralIndexKey</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>dei:centralIndexKeyItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate number of shares outstanding of each of registrant's classes of common stock, as of latest practicable date. Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCommonStockSharesOutstanding</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityCurrentReportingStatus</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>dei_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>dei:yesNoItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityFilerCategory</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityPublicFloat</nobr></td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td>credit</td>
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                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityRegistrantName</nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:normalizedStringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityVoluntaryFilers</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td>dei:yesNoItemType</td>
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                    <td>na</td>
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                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>dei_EntityWellKnownSeasonedIssuer</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Trading symbol of an instrument as listed on an exchange.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Capital Stock Transactions<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Capital Stock Transactions</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>12.</b></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Capital Stock Transactions</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><i>&#xA0;</i></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><i>Preferred Stock</i></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">There
are 100 shares of Series A Convertible Preferred Stock
(&#x201C;Series A&#x201D;) authorized, issued and outstanding. The
Series A has a par value of $0.0001 per share. The Series A holders
are entitled to: (1) vote on an equal per share basis as common
stock, (2) dividends paid to the common stock holders on an as
if-converted basis and (3) a liquidation preference equal to the
greater of $10 per share of Series A (subject to adjustment) or
such amount that would have been paid to the common stock holders
on an as if-converted basis.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><i>&#xA0;</i></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><i>Common Stock and Warrants</i></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
addition, in connection with the New Senior Secured Notes described
in Note 10, on June 21, 2010, each purchaser of a New Senior
Secured Note also received a warrant (&#x201C;Warrant&#x201D;) to
purchase shares of common stock of the Company at an exercise price
of $0.25 per share, subject to adjustment. For each $1 of New
Senior Secured Notes purchased, the purchaser received a Warrant to
purchase 3.33 shares of common stock of the Company. Each Warrant
has a five year term. The warrants were valued at $1,678 using the
Black Scholes pricing model (see Note 10) and were originally
recorded as equity.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
February 2011, a former officer of the Company, agreed to cancel
300,000 shares underlying an option to purchase 350,000 shares of
common stock of the Company, and the Company granted an option to
purchase 300,000 shares of the Company&#x2019;s common stock at an
exercise price of $0.25 per share. The Company determined the
incremental fair value of the options issued to be $37, using the
Black-Scholes option pricing model and the following assumptions:
expected life of 6.98 years, a risk free interest rate of 2.99%, a
dividend yield of 0% and volatility of 75%.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
February 2011, an officer of the Company, agreed to cancel 400,000
shares underlying an option to purchase 450,000 shares of common
stock of the Company, and the Company granted an option to purchase
400,000 shares of the Company&#x2019;s common stock at an exercise
price of $0.25 per share. The Company determined the incremental
fair value of the options issued to be $50, using the Black-Scholes
option pricing model and the following assumptions: expected life
of 6.98 years, a risk free interest rate of 2.99%, a dividend yield
of 0% and volatility of 75%.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="COLOR: black">In September 2010, the Company entered
into a consulting agreement, pursuant to which, the Company issued
warrants to purchase 150,000 shares of the Company&#x2019;s common
stock at an exercise price of $0.39 per share. The Company
determined the fair value of the warrants issued to be $26, using
the Black-Scholes option pricing model and the following
assumptions: expected life of 3.00 years, a risk free interest rate
of 0.70%, a dividend yield of 0% and volatility of 75%. In February
2011, an officer of the Company, agreed to cancel an option to
purchase 500,000 shares of common stock of the Company, and the
Company granted an option to purchase 500,000 shares of the
Company&#x2019;s common stock at an exercise price of $0.25 per
share. The Company determined the incremental fair value of the
options issued to be $26, using the Black-Scholes option pricing
model and the following assumptions: expected life of 3.00 years, a
risk free interest rate of 1.02%, a dividend yield of 0% and
volatility of 75%.</font>&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
April 1, 2011, 347,244 shares of common stock of the Company were
issued to two former employees of the Company, as compensation, at
the closing market price on that date of $0.58 cents per share,
resulting in a total value of $201. In addition, the employees each
agreed to cancel options to purchase 173,622 shares of common stock
in connection with their respective termination agreements which
were valued at $132. The Company determined the fair value of the
cancelled options using the Black-Scholes option pricing model and
the following assumptions: expected life of 5.11 years, a risk free
interest rate of 1.76%, a dividend yield of 0% and volatility of
75%. The net value of the termination was $69.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
April 6, 2011, the Company entered into a consulting agreement. On
January 3, 2012 the Company issued 150,000 shares of common stock
of the Company to the consultant. The shares vest over a one year
period. The shares were valued at the closing market price on that
date of $0.58 cents per share. The overall value was determined to
be $87, of which $87 was recorded through the period ended March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
April 6, 2011, the Company issued warrants to purchase 75,000
shares of the Company&#x2019;s common stock to a vendor, as
compensation for services rendered, at $0.25 cents per share. The
Company determined the fair value of the warrants issued to be a
$34, using the Black-Scholes option pricing model and the following
assumptions:&#xA0;&#xA0;expected life of&#xA0;3.00 years, a risk
free interest rate of&#xA0;.81%, a dividend yield of 0% and
volatility of&#xA0;75%. The warrants vest over a six month period
and $34 of expense has been recorded through the period ended March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In May
2011, 150,000 shares of common stock of the Company were issued to
a vendor as a settlement, at the closing market price on that date
of $0.40 cents per share, resulting in a total value of $60.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In June
2011, the Company entered into a consulting agreement, pursuant to
which, the Company issued warrants to purchase 150,000 shares of
the Company&#x2019;s common stock at an exercise price of $0.47
cents per share. At June 30, 2011, the Company determined the fair
value of the warrants issued to be $53, using the Black-Scholes
option pricing model and the following
assumptions:&#xA0;&#xA0;expected life of&#xA0;3.00 years, a risk
free interest rate of&#xA0;0.81%, a dividend yield of 0% and
volatility of&#xA0;75%. The warrants vest over a one year period
and $53 of expense has been recorded through the period ended March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In June
2011, the Company entered into a consulting agreement, pursuant to
which, the Company issued warrants to purchase 150,000 shares of
the Company&#x2019;s common stock at an exercise price of $0.47
cents per share. At June 30, 2011, the Company determined the fair
value of the warrants issued to be $92, using the Black-Scholes
option pricing model and the following
assumptions:&#xA0;&#xA0;expected life of&#xA0;3.00 years, a risk
free interest rate of&#xA0;0.83%, a dividend yield of 0% and
volatility of&#xA0;75%. The warrants vest over a one year period
and $48 of expense has been recorded in the period ended March 31,
2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 29, 2011, the Company issued a convertible promissory note
for $7,000, pursuant to which the Company issued warrants to
purchase 3,500,000 shares based on 25% coverage and a conversion
rate of $0.50. The exercise price was $0.50 at the date of issuance
with a five year life. At December 29, 2011, the Company determined
the fair value of the warrants to be $2,177 using the Black-Scholes
option pricing model and the following
assumptions:&#xA0;&#xA0;expected life of&#xA0;5 years, a risk free
interest rate of&#xA0;0.88%, a dividend yield of 0% and volatility
of&#xA0;175%. The fair value of the warrants was recorded as a debt
discount. On March 1, 2012 the note was amended, changing the
conversion price to $0.70 cents per share, and the Company issued
10,053,333 shares of common stock of the Company in full payment of
principle and interest of the New Convertible Note at the new
conversion price, and recognized the full expense of the warrants
and debt discount in interest expense as of March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 50,000 shares of common stock of
the Company to Digital Turbine Group LLC for the purchase of its
assets. The shares were valued at the closing market price on that
date of $0.65 cents per share. The overall value was determined to
be $31, and was recorded as production expense as of December 31,
2011.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 50,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined overall value to
be $39, and $11 was recorded as an expense through March 31,
2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 100,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $77, and $22 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 100,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $77, and $22 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 1,787,500 shares of common stock
of the Company to a consultant. The shares are partially vested,
but are restricted for a one year period. The vesting of the shares
is both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $1,379, and $400 was recorded as an expense through
March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 50,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $39, and $11 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 100,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $77, and $22 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 9,037,500 shares of common stock
of the Company to a consultant. The shares are partially vested,
but are restricted for a one year period. The vesting of the shares
is both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $6,974, and $2,025 was recorded as an expense through
March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 200,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $154, and $44 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 500,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $386, and $112 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 25,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $19, and $6 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 500,000 shares of common stock of
the Company to a consultant. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $386, and $112 was recorded as an expense through March
31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 1,000,000 shares of common stock
of the Company to a director. The shares vest over a period of one
year. The shares were valued at the closing market price on that
date of $0.62 cents per share. The overall value was determined to
be $620, and $207 of expense was recorded through the period ended
March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 1,000,000 shares of common stock
of the Company to a director. The shares vest over a period of one
year. The shares were valued at the closing market price on that
date of $0.62 cents per share. The overall value was determined to
be $620, and $207 of expense was recorded through the period ended
March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 1,000,000 shares of common stock
of the Company to a director. The shares vest over a period of one
year. The shares were valued at the closing market price on that
date of $0.61 cents per share. The overall value was determined to
be $610, and $158 of expense was recorded through the period ended
March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 3,400,000 shares of common stock
of the Company to a director. The shares are partially vested, but
are restricted for a one year period. The vesting of the shares is
both performance and market based, and as such, the Company
performed a valuation under ASC 718 and determined the overall
value to be $2,624, and $1,454 of expense was recorded through the
period ended March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company issued 3,600,000 shares of common stock
of the Company to a director. The shares are vested, but are
restricted for a one year period. The shares were valued at the
closing market price on that date of $0.61 cents per share. The
overall value was determined to be $2,196, and $2,196 of expense
was recorded in the period ended December 31, 2011.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
January 2012, the Company entered into a consulting agreement,
pursuant to which, the Company issued 150,000 shares of common
stock of the Company. The shares are vested and were valued at the
closing market price on that date of $0.65 cents per share. The
overall value was determined to be $98, and $98 of expense was
recorded in the period ended January 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
January 2012, the Company entered into a consulting agreement,
pursuant to which, the Company issued 150,000 shares of common
stock of the Company. The shares vest over one year and were valued
at the closing market price on that date of $0.65 cents per share.
The overall value was determined to be $98, and $59 of expense was
recorded through the period ended March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
January 2012, the Company issued 1,375,000 shares of common stock
of the Company to three employees. 875,000 of the shares are
vested, but are restricted for a two year period. The shares were
valued at the closing market price on that date of $0.65 cents per
share. The overall value was determined to be $894, and $569 of
expense was recorded through the period ended March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company issued 50,000 shares of common stock of the
Company to a vendor. The shares are vested, but restricted for a
one year period. The shares were valued at the closing market price
on that date of $0.85 cents per share. The overall value was
determined to be $42, of which $42 was recorded in the period ended
March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company issued 150,000 shares of common stock of
the Company to a vendor. The shares vest over one year and were
valued at the closing market price on that date of $0.90 cents per
share. The overall value was determined to be $135, of which $2 was
recorded through the period ended March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company sold 3,857,143 shares of common stock of
the Company to investors for $0.70 cents per share. In connection
with this sale of common stock, the Company issued warrants to
purchase 964,286 shares of common stock of the Company at an
exercise price of $0.70 cents per share with a term of 5 years.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company issued warrants to purchase 2,000,000
shares of common stock of the Company at an exercise price of $0.70
cents per share with a term of 5 years. The warrants were issued as
consideration related to the modification of an existing note to
convertible debt and treated as debt modification expense of $1,459
as of March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company issued 1,071,429 warrants to purchase
shares of common stock of the Company at an exercise price of $0.70
cents per share. The Company recorded expense of $610 through the
period ended March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><u>Derivative liabilities</u></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, the Company determined that certain warrants were
considered derivatives because they did not meet the scope
exception in ASC 815-10-15-74. The fair value of these warrants was
$452 and $223 at March 31, 2012 and 2011, respectively.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 29, 2011, the Company issued a $7,000 New Convertible Note
with conversion rate at 75% of the average trading price of the
Company&#x2019;s common stock for the 30-day period immediately
prior to conversion with a floor of $0.50. Pursuant to the
agreement, the Company issued a Coverage Warrant equal to
multiplying 25% by the quotient obtained by dividing the amount of
the principal under the convertible note outstanding immediately
prior to conversion by the conversion price.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Previously issued warrants and embedded conversion features had met
the scope exception in ASC 815-10-15-74; however, due to the
increased number of potential common shares that would need to be
issued upon conversion of the note, the Company did not have
sufficient authorized and unissued shares as required by</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">ASC
815-40-25-10 (b) causing all outstanding derivatives and embedded
conversion features to not meet the scope exception in ASC
815-10-15-74. As a result, the Company was required to separately
account for the outstanding warrants and embedded conversion
options as derivative liabilities, carried at fair value and
marked-to-market each reporting period, with changes in the fair
value each period being charged or credited to operations.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
On December 29, 2011, the Company valued all previously outstanding
warrants and embedded conversion features using the Black-Scholes
model and reclassified $17,549 from additional paid-in capital to
derivative liabilities. The Company also recorded a derivative
liability of $8,255 representing the fair value of the embedded
conversion option and the Coverage Warrant issued with the New
Convertible Note. The Company determined the fair value using the
Black-Scholes option pricing model with the following
assumptions:</p>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">
Previously&#xA0;Outstanding&#xA0;Instruments</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">New&#xA0;Convertible&#xA0;Note</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Embedded</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Embedded</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td colspan="2" nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Conversion</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Conversion</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Coverage</td>
<td nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Warrants</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Options</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Option</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Warrant</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 36%">Estimated Life
(years)</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">1.82 &#x2013; 4.5</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">1.48</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">1</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%">5</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Risk Free Interest Rate</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">.28 - .88</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0.12</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0.12</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0.88</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Dividend Yield</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Volatility</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">175</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">175</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">175</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">175</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
March 26, 2012, the Senior Secured Convertible Note holders issued
a waiver to the Company stating that they would not convert their
notes until the Company has notified them in writing that the
Company has increased its authorized capital sufficiently so that
the conversion, exchange or exercise of all convertible securities
can be effectuated without the Company exceeding its authorized
capital.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">With
the issuance of the waiver, the Company determined that the
outstanding warrants and embedded conversion options met the scope
exception of ASC 815-10-15-74 as it had sufficient authorized and
unissued shares as required by ASC 815-40-25-10 (b). Therefore, the
Company valued all outstanding warrants and embedded conversion
options on March 26, 2011 and reclassified $28,733 from derivative
liability to additional paid-in capital. The Company determined the
fair value using the Black-Scholes option pricing model with the
following assumptions:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Embedded</td>
<td nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td nowrap="nowrap">&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2" nowrap="nowrap">
Conversion</td>
<td nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Warrants</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Options</td>
<td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 56%">Estimated Life
(years)</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 18%">1.60 - 4.93</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 18%">1.24</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Risk Free Interest Rate</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0.36% - 1.04</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0.12</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Dividend Yield</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">0</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Volatility</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">175</td>
<td style="TEXT-ALIGN: left">%</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">175</td>
<td style="TEXT-ALIGN: left">%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Restricted Stock Agreements</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">During
the year ended March 31, 2012, the Company entered into restrictive
stock agreements (&#x201C;RSAs&#x201D;) with certain employees and
consultants. The RSAs have performance conditions, market
conditions, time conditions or a combination. Once the stock vests,
the individual is restricted from selling the shares of stock for a
certain defined period from three months to two years depending on
the RSA. Certain RSA are granted voting rights while other RSAs are
not granted voting rights.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>&#xA0;</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i><u>Performance and Market Condition RSAs</u></i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 28, 2011, the Company issued 15,850 restricted shares with
vesting criteria based on both performance and market conditions.
The vesting is as follows: (i) one third (1/3) shall vest
immediately upon the completion of one or more debt or equity
financings during the period ending two (2) years from the date
hereof (the &#x201C;Measurement Period&#x201D;) in favor of the
Company of gross proceeds of at least $5 million; (ii) one third
(1/3) shall vest immediately if on any date during the Measurement
Period the Company&#x2019;s total enterprise value (computed by
multiplying the number of outstanding shares of Common Stock on a
fully diluted (taking into account only those stock options that
are in-the-money on such date), as-converted basis by the average
daily trading price for Common Stock for the thirty (30) trading
day period immediately preceding the date of determination) equals
or exceeds $100 million; and (iii) one third (1/3) shall vest
immediately if on any date during the Measurement Period the
Company&#x2019;s total enterprise value (calculated as set forth in
clause (ii) above) equals or exceeds $200 million; provided,
however, that all unvested shares of restricted common stock shall
vest immediately upon the sale of all or substantially all of the
assets of the Company, upon the merger or reorganization of the
Company following which the equity holders of the Company
immediately prior to the consummation of such merger or
reorganization collectively own less than 50% of the voting power
of the resulting entity, or upon the sale of equity securities of
the Company representing 50% or more of the voting power of the
Company or 50% or more of the economic interest in the Company in a
single transaction or in a series of related transactions.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Each
share is restricted from the individual selling the stock for a
period of one year from the date of vesting.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Of the
15,850 restricted shares, the 5,283 vested shares and 8,292
unvested shares were granted voting rights and have been included
in the outstanding shares as of March 31, 2012. The remaining
unvested shares do not have voting rights and have been excluded
from the outstanding shares as of March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 28, 2011, one third of the restricted shares vested due to
the $7,000 financing agreement entered into by the Company. The
Company valued the 5,283 vested RSAs at $3,223 using the
Company&#x2019;s ending share price at December 28, 2011 of
$0.61.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">For
accounting purposes, the one third unvested shares related to the
$100,000 enterprise value and the one third unvested shares related
to the $200,000 enterprise value are considered to have a market
condition. The effect of the market condition is reflected in the
grant date fair value of the award and, thus compensation expense
is recognized on this type of award provided that the requisite
service is rendered (regardless of whether the market condition is
achieved). The Company estimated the grant date fair value to be
$0.279 per share and $0.206 per share for the $100,000 enterprise
value and $200,000 enterprise value, respectively, using a Monte
Carlo simulation that uses the following assumptions:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Volatility &#x2013; 100%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Restricted stock discount &#x2013; 36.1%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Risk free interest rate of 0.1%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Dividend yield of 0%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company expensed $3,552 related to the 15,850 RSAs issued on
December 28, 2011 and will expense the remaining $2,233 over the
period ended December 28, 2013.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i><u>Time and Performance Condition RSAs</u></i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
January 3, 2012, the Company issued 2,375 restricted shares with
vesting criteria based on both time and performance conditions. At
January 3, 2012, 1,025 restricted shares vested immediately and the
remaining 1,375 unvested shares must meet certain performance
criteria which has either not been defined by the Board of
Directors or the Company has determined that the probability of
meeting the performance criteria is 0%.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Each
share is restricted from the individual selling the stock for a
period from one year up to two years from the date of vesting.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Of the
2,375 restricted shares, the 1,025 vested shares are determined to
have voting rights and have been included in the outstanding shares
as of March 31, 2012. The remaining 1,350 unvested shares do not
have voting rights and have been excluded from the outstanding
shares as of March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="COLOR: black">For accounting purposes, the Company
determined the grant date fair value to be $0.65 per share which is
the closing price of the Company&#x2019;s stock price on January 3,
2012.</font> The Company expensed $662, related to the 2,375 RSAs
issued on January 3, 2012. No further expense will be taken until
the Board of Directors details the performance criteria.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i><u>Time Condition RSAs</u></i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
various dates during the year ended March 31, 2012, the Company
issued 7,100 restricted shares with vesting criteria based on time
conditions. As of March 31, 2012, 3,650 restricted shares were
vested with each share being restricted from the individual selling
the stock for a period from three months up to two years from the
date of vesting.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Of the
7,100 restricted shares, the 3,650 vested shares are determined to
have voting rights and have been included in the outstanding shares
as of March 31, 2012. The remaining 3,450 unvested shares do not
have voting rights and have been excluded from the outstanding
shares as of March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<font style="COLOR: black">For accounting purposes, the Company
determined the weighted average grant date fair value to be $0.62
per share based on the closing price of the Company&#x2019;s stock
price on the various issue dates.</font> The Company expensed
$2,957 related to the 7,100 RSAs and will expense the remaining
$2,142 grant date fair value over the year ended March 31,
2013.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
following table summarizes the RSA activity:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt" colspan="2">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2">
Weighted</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">(in thousands, except grant date fair
value)</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt" colspan="2">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2">
Average</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2">Number
of</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2">Grant
Date</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2">Shares</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-SIZE: 10pt" colspan="2">Fair Value</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">Unvested at March 31, 2010</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">-</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">-</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="WIDTH: 70%; FONT-SIZE: 10pt">Granted</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-SIZE: 10pt">300</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 12%; FONT-SIZE: 10pt">
0.250</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">Canceled</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">-</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">-</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">Vested</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
300</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">Unvested at
March 31, 2011</td>
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt">
0.25</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">Granted</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">25,325</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">0.463</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt">Canceled</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">-</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">-</td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">Vested</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
(9,958</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
)</td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
0.618</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">Unvested at
March 31, 2012</td>
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt">
15,667</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt">
0.36</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
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</div><span></span></td>
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    <div style="display: none;">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable).  Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 4<br><br> -Subparagraph (SAB TOPIC 4.C)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187143-122770<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 3, 4, 5, 6, 7, 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Preferred Stock<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Article 4<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section C<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph d<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 43<br><br> -Chapter 1<br><br> -Section B<br><br> -Paragraph 7, 11A<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 20: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 21: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 22: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 23: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityNoteDisclosureTextBlock</nobr></td>
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                    <td>us-gaap_</td>
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                    <td>nonnum:textBlockItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EW1AG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Consolidated Statements of Operations (USD $)<br>In Thousands, except Per Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2011</div>
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      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Net revenues</a></td>
        <td class="nump">$ 7,230<span></span></td>
        <td class="nump">$ 9,186<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenueAbstract', window );"><strong>Cost of revenues</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LicenseCosts', window );">License fees</a></td>
        <td class="nump">2,643<span></span></td>
        <td class="nump">2,915<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCostOfOperatingRevenue', window );">Other direct cost of revenues</a></td>
        <td class="nump">230<span></span></td>
        <td class="nump">295<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRevenue', window );">Total cost of revenues</a></td>
        <td class="nump">2,873<span></span></td>
        <td class="nump">3,210<span></span></td>
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      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GrossProfit', window );">Gross profit</a></td>
        <td class="nump">4,357<span></span></td>
        <td class="nump">5,976<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Operating expenses</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Product development</a></td>
        <td class="nump">2,154<span></span></td>
        <td class="nump">3,528<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingAndMarketingExpense', window );">Sales and marketing</a></td>
        <td class="nump">873<span></span></td>
        <td class="nump">2,142<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
        <td class="nump">13,013<span></span></td>
        <td class="nump">5,698<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of intangible assets</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">54<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill', window );">Impairment of intangible assets</a></td>
        <td class="nump">2,319<span></span></td>
        <td class="nump">4,482<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_GoodwillImpairmentCharges', window );">Impairment of goodwill</a></td>
        <td class="nump">2,969<span></span></td>
        <td class="nump">1,546<span></span></td>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
        <td class="nump">21,328<span></span></td>
        <td class="nump">17,450<span></span></td>
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      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
        <td class="num">(16,971)<span></span></td>
        <td class="num">(11,474)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Interest and other income / (expense)</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeExpenseNonoperatingNet', window );">Interest income/ (expense)</a></td>
        <td class="num">(12,497)<span></span></td>
        <td class="num">(1,761)<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Foreign exchange transaction gain / (loss)</a></td>
        <td class="num">(94)<span></span></td>
        <td class="num">(83)<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments', window );">Change in fair value of accrued derivative liabilities gain / (loss)</a></td>
        <td class="num">(4,447)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on extinguishment of debt</a></td>
        <td class="nump">2,004<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossRelatedToLitigationSettlement', window );">Gain / (loss) on settlement of debt</a></td>
        <td class="nump">1,393<span></span></td>
        <td class="num">(864)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncomeExpense', window );">Other income / (expense)</a></td>
        <td class="nump">15<span></span></td>
        <td class="num">(2)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Interest and other expense</a></td>
        <td class="num">(13,626)<span></span></td>
        <td class="num">(2,710)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Loss from operations before income taxes</a></td>
        <td class="num">(30,597)<span></span></td>
        <td class="num">(14,184)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax provision</a></td>
        <td class="num">(110)<span></span></td>
        <td class="num">(224)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperations', window );">Net loss from continuing operations, net of taxes</a></td>
        <td class="num">(30,707)<span></span></td>
        <td class="num">(14,408)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract', window );"><strong>Discontinued operations, net of taxes:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax', window );">Income from discontinued operations, net of taxes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">809<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax', window );">Gain on disposal of discontinued operations, net of taxes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,215<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax', window );">Net income from discontinued operations, net of taxes</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,024<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (loss)/profit income</a></td>
        <td class="num">(30,707)<span></span></td>
        <td class="num">(9,384)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other comprehensive (loss) / income:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Foreign currency translation adjustment</a></td>
        <td class="nump">97<span></span></td>
        <td class="nump">128<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive (loss) / income</a></td>
        <td class="num">$ (30,610)<span></span></td>
        <td class="num">$ (9,256)<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted net income / (loss) per common share</a></td>
        <td class="num">$ (0.62)<span></span></td>
        <td class="num">$ (0.25)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare', window );">Continuing operations</a></td>
        <td class="num">$ (0.62)<span></span></td>
        <td class="num">$ (0.38)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare', window );">Discontinued operations</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 0.13<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_WeightedAverageNumberBasicDilutedSharesOutstanding', window );">Weighted average common shares outstanding, basic and diluted</a></td>
        <td class="nump">49,418<span></span></td>
        <td class="nump">37,664<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common shares outstanding, diluted</a></td>
        <td class="nump">49,418<span></span></td>
        <td class="nump">37,664<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_GoodwillImpairmentCharges">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Goodwill Impairment Charges</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_GoodwillImpairmentCharges</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_WeightedAverageNumberBasicDilutedSharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted Average Number of Shares Outstanding where Basic and Diluted are the same and reported as a single line</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_WeightedAverageNumberBasicDilutedSharesOutstanding</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16323-109275<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 142<br><br> -Paragraph 45<br><br> -Subparagraph a(2)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AmortizationOfIntangibleAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e540-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A5<br><br> -Appendix A<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 8, 9, 10, 11, 12, 13, 14<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508144<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e557-108580<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ComprehensiveIncomeNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate cost of goods produced and sold and services rendered during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 2<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRevenueAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostOfRevenueAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gain (loss) after tax expense or benefit, not previously recognized and resulting from the sale of a business component, which is recognized at the date of sale. A gain (loss) reflects the amount by which the consideration received exceeds (is exceeded by) the net carrying amount (reflecting previous provisions for loss on disposal, if any) of the disposal group.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>After tax income (loss) from operations of a business component (exclusive of any gain (loss) on disposal, or provision therefore) during the reporting period, until its disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate foreign currency transaction gain (loss) (both realized and unrealized) included in determining net income for the reporting period. Excludes foreign currency transactions designated as hedges of net investment in a foreign entity and intercompany foreign currency transactions that are of a long-term nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements. For certain enterprises, primarily banks, that are dealers in foreign exchange, foreign currency transaction gains (losses) may be disclosed as dealer gains (losses).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30690-110894<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450189&amp;loc=d3e30700-110894<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450222&amp;loc=d3e30840-110895<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossRelatedToLitigationSettlement">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net proceeds or assets obtained in excess of (less than) the net carrying amount of assets recorded, or assets distributed and liabilities assumed less than (in excess of) estimated litigation  liability extinguished, in settlement of a litigation matter. Represents (for other than an insurance entity in its normal claims settlement process), the amount of income (expense) recognized in the period to settle pending or threatened litigation and insurance claims.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 5<br><br> -Paragraph 9, 10, 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 450<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6952336&amp;loc=d3e14326-108349<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossRelatedToLitigationSettlement</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 50<br><br> -Section 40<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12355-112629<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 26<br><br> -Paragraph 20, 21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 50<br><br> -Section 40<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12317-112629<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainsLossesOnExtinguishmentOfDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GrossProfit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1,2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GrossProfit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of an intangible asset (excluding goodwill) to fair value.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 142<br><br> -Paragraph 46<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16373-109275<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ImpairmentOfIntangibleAssetsExcludingGoodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperations">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the income or loss from continuing operations attributable to the parent which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 810<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 18<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6921628&amp;loc=SL4613673-111683<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph b(1)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.13)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperations</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph h<br><br> -Subparagraph 1(i)<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the overall income (loss) from a disposal group that is classified as a component of the entity, net of income tax, reported as a separate component of income before extraordinary items before deduction or consideration of the amount which may be allocable to noncontrolling interests, if any. Includes the following (net of tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 47<br><br> -Subparagraph c<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 29<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 13<br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 15<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of income (loss) derived from discontinued operations during the period, net of related tax effect, per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 45<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the period, which was recognized in earnings, in the unrealized gains or losses on derivative instruments that are not or are no longer designated as hedging instruments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 18<br><br> -Subparagraph a, b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4C<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6935481&amp;loc=SL5624171-113959<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 20<br><br> -Section 35<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6439004&amp;loc=d3e65527-113976<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInFairValueOfUnhedgedDerivativeInstruments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net amount of nonoperating interest income (expense).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestIncomeExpenseNonoperatingNet</nobr></td>
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                  <tr>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Costs incurred and are directly related to generating license revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LicenseCosts</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
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                    <td><strong> Period Type:</strong></td>
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        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 7<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NonoperatingIncomeExpense</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NonoperatingIncomeExpenseAbstract</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpenses</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingExpensesAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
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          </td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentBeforeTaxPeriodIncreaseDecreaseAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          </td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 24<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14, 17, 19, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 13, 20, 31<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other costs incurred during the reporting period related to other revenue generating activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 2<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNonoperatingIncomeExpense</nobr></td>
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                    <td>us-gaap_</td>
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                <p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 985<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 730<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6420194&amp;loc=d3e21568-108373<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 141<br><br> -Paragraph 51<br><br> -Subparagraph g<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 2<br><br> -Paragraph 12, 13<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 86<br><br> -Paragraph 11, 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 1<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>The aggregate total amount of expenses directly related to the marketing or selling of products or services.</p>
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                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920599&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 07-4<br><br> -Paragraph 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 40<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 128<br><br> -Paragraph 8<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
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                    <td>na</td>
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<td style="WIDTH: 74%">Equipment</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,310</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,298</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Furniture &amp; fixtures</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">484</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">479</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Leasehold
improvements</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
184</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
184</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,978</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,961</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Accumulated
depreciation</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
(1,748</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">)</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
(1,573</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Net Property
and Equipment</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
230</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
388</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Net Property
and Equipment of discontinued operations</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;Depreciation expense for the years ended March 31, 2012 and
2011 was $199 and $291, respectively for continuing operations and
$0 and $27 for discontinued operations.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for 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. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.13-14)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Accounts Receivable<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
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      <tr>
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          <div>Mar. 31, 2012</div>
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<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
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&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>5.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Accounts Receivable</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2012</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 74%">Billed</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">709</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,523</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Unbilled</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">589</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,272</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Less: allowance
for doubtful accounts</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(108</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(96</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Net Accounts
receivable</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1,190</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
2,699</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
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<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; COLOR: blue; FONT-WEIGHT: bold">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">Net Accounts
receivable of discontinued operations</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
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<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;The Company had no significant write-offs or recoveries
during the years ended March 31, 2012 and March 31, 2011.</p>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock">
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        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6965416&amp;loc=d3e5066-111524<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 7<br><br> -Article 9<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 01-6<br><br> -Paragraph 13<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6965416&amp;loc=d3e5162-111524<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 3, 4<br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(k))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.3,4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 4<br><br> -Section 08<br><br> -Paragraph k<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6965416&amp;loc=d3e5074-111524<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Subsequent Events<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>17.</b></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Subsequent Events</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As
previously reported on a Current Report on Form 8-K filed March 23,
2012, on February 22, 2012, the Company received notice from the
OTC Bulletin Board (OTC BB) that its common stock would be removed
from OTC BB under NASD Rule 6530(e), under which any OTC BB issuer
that is delinquent in its reporting obligations three times in a
24-month period is ineligible for quotation on the OTC BB for a
period of one year. The Company requested and received a hearing to
review the OTC BB's determination, which occurred on April 2, 2012
before the Financial Industry Regulatory Authority (FINRA). On May
16, 2012, the Company received notice of decision from FINRA that
the Company&#x2019;s securities are not eligible for continued
quotation on the OTC BB and would be promptly removed from the OTC
BB. The Company believes that while it is seeking a long term
solution to enhanced stockholder liquidity, its common stock will
continue to be traded in other over the counter markets under its
same ticker symbol (MNDL or MNDLE), such as the OTC Market's OTC QB
(accessed through <u>www.otcmarkets.com</u>, but not incorporated
by reference herein). Although there are no guarantees of success,
the Company is actively pursuing appropriate steps to ensure the
long term liquidity of the Company's common stock, including
seeking listing on a national securities exchange.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
April 12, 2012, the Company entered into a Separation and General
Release Agreement with Mr. David Mandell, Executive Vice President
and General Counsel of Mandalay Digital Group, Inc.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On May
6, 2012, the Board of Directors of the Company elected Mr.
Christopher Rogers as a director.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As
previously reported on a Current Report on Form 8-K filed May, 30,
2012, on May 18, 2012 the Company entered into amendments to the
restricted stock agreements governing grants of shares of
restricted common stock made to Mr. Peter Adderton, chief executive
officer, and Mr. Robert Ellin, executive chairman, the original
details of which were previously disclosed on the Company&#x2019;s
Current Report on Form 8-K filed on January 4, 2012. These
amendments clarified that the holders of such shares have all
rights of a stockholder with respect to those shares (vested or
unvested), including voting and dividend rights, subject to the
restrictions and forfeiture provisions of the restricted stock
agreements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On May
23, 2012, the Company received the written consent from
stockholders holding a majority of its outstanding common stock to
permit (but not require) the Board of Directors of the Company to
amend its Amended and Restated Certificate of Incorporation to (i)
effect a reverse stock split of the Company&#x2019;s common stock at
any time prior to April 26, 2013, by a ratio of not less than
one-for-two and not more than one-for-ten, with the exact ratio to
be set at a whole number within this range as determined by the
Board of Directors in its sole discretion (the &#x201C;Reverse Stock
Split&#x201D;) and (ii) to increase the number of authorized shares
of the Company&#x2019;s capital stock to 202,000,000 shares of
stock, of which 200,000,000 shares would be classified as Company
common stock and 2,000,000 shares would be classified as Company
preferred stock (the &#x201C;Authorized Stock Increase&#x201D;). In
addition, such stockholders, pursuant to the written consent, also
approved the Company&#x2019;s Amended and Restated 2011 Equity
Incentive Plan of the Company, and related forms of Equity
Incentive Plan Notice of Grant Restricted Stock Agreement, and
Notice of Grant and Stock Option Agreement (the &#x201C;Plan
Approval&#x201D;).</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On June
7, 2012, the Company entered into an Equity Financing Binding Term
Sheet, with an accredited investor, pursuant to which the Company
agreed to issue an aggregate of 1,428,571 shares of its common
stock and warrants to purchase 357,142 shares of its common stock
(subject to adjustment), for an aggregate purchase price of
$1,000,000. The warrants have an exercise price of $0.70 per share
(subject to adjustment) and a five year term. In addition, the
Equity Agreement provides that (a) the Company will use its best
efforts to file a registration statement covering the shares of
common stock issued and the shares of common stock issuable upon
exercise of the warrants within 120 calendar days after the date of
the Equity Agreements and use its best efforts to cause the
registration statement to become effective as soon as possible
thereafter; and (b) the applicable investor will have a right to
participate in future financings by the Company (subject to
standard exceptions) for a period of two years on a pro rata basis
in accordance with his ownership interests in the Company (on a
fully diluted basis assuming exercise of the applicable
warrant).</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
June, 7, 2012, Adage Capital Partners, LP agreed that it would not
to abstain from exercising its warrant to purchase 2,500,000 shares
of common stock, issued December 29, 2011, as amended March 1,
2012, until informed in writing by the Company that the Company has
increased its authorized capital sufficiently so that exercise can
be effectuated without the Company being in an over-issuance
position with respect to the shares underlying such warrants.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
June, 7, 2012, TAJA, LLC agreed that it would abstain from
exercising the following warrants and convertible note, until
informed in writing by the Company that the Company has increased
its authorized capital sufficiently so that exercise can be
effectuated without the Company being in an over-issuance position
with respect to the shares underlying such warrants and note: (1)
Warrant to Purchase 1,071,429 shares of Common Stock, issued
December 29, 2011, as amended on March 1, 2012; (2) Warrant to
Purchase 2,000,000 shares of Common Stock issued December 29 ,2011
as amended on March 1, 2012; (3) Unsecured Subordinated Convertible
Note, due June 21, 2015, in the original principal amount of
$3,000,000.</p>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Employee Benefit Plans<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
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<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center">
<tr style="VERTICAL-ALIGN: top">
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&#xA0;</td>
<td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>13.</b></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Employee Benefit Plans</b></td>
</tr>
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<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company has an employee 401(k) savings plan covering full-time
eligible employees.&#xA0;&#xA0;These employees may contribute
eligible compensation up to the annual IRS limit. The Company does
not make matching contributions.</p>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for pension and other postretirement benefits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 715<br><br> -URI http://asc.fasb.org/topic&amp;trid=2235017<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 87<br><br> -Paragraph 264<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Goodwill and Intangible Assets<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock', window );">Goodwill and Intangible Assets</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>9.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Goodwill and Intangible Assets</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;<b>Goodwill</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">A
reconciliation of the changes to the Company's carrying amount of
goodwill for the years ended March 31, 2012 and 2011 was as
follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 87%">Balance at March 31, 2010</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">8,155</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Goodwill
impairment</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(1,546</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Balance at March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">6,609</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Goodwill
impairment</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,969</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Balance at March 31, 2012</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,640</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Fair
value is defined under ASC 820, Fair Value Measurements and
Disclosures as, &#x201C;The price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date&#x201D;. The
Company considered the income and market approaches to derive an
opinion of value. Under the income approach, the Company utilized
the discounted cash flow method, and under the market approach,
consideration was given to the guideline public company method, the
merger and acquisition method, and the market capitalization
method.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As a
result of the assessment, the Company determined that its net book
value exceeded the implied fair value; and recorded an impairment
charge of $2,969 for the year ended March 31, 2012 and $1,546 for
the year ended March 31, 2011 to write down goodwill. The
impairment charge is included &#x201C;Impairment of goodwill and
intangible assets&#x201D; within operating expenses in the
statements of operations.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Intangible Assets</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">A
reconciliation of the changes to the Company's carrying amount of
intangible assets for the years ended March 31, 2012 and 2011 was
as follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 75%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Amortizable</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Unamortizable</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Total</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">
Intangible&#xA0;Assets</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">
Intangible&#xA0;Assets</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">
Intangible&#xA0;Assets</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 61%">Balance at March 31, 2010</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,704</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">6,491</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">8,195</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Amortization</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(347</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(347</td>
<td style="TEXT-ALIGN: left">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Impairment of intangibles</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(464</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(4,018</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(4,482</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Balance at March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">893</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,473</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">3,366</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Amortization</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(230</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(230</td>
<td style="TEXT-ALIGN: left">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Impairment of intangibles</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,319</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,319</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Balance at March 31, 2012</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
663</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
154</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
817</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company performed its annual review of the fair value of intangible
assets in the fourth quarter of fiscal 2012. The Company considered
the income and market approaches to derive an opinion of value. As
a result of the assessment, the Company determined that its net
book value exceeded the implied fair value; and recorded an
impairment charge of $2,319 for the year ended March 31, 2012 and
$4,018 for the year ended March 31, 2011 to write down intangible
assets. The impairment charge is included &#x201C;Impairment of
goodwill and intangible assets&#x201D; within operating expenses in
the statements of operations.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
components of intangible assets as at March 31, 2011 and 2012 were
as follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10">As&#xA0;of&#xA0;March&#xA0;31,&#xA0;2012</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Accumulated</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Cost</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Amortization</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Net</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 61%">Software</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,611</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">(948</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">663</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Trade name / Trademark</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">154</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">154</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Customer list</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,220</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(1,220</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">(0</td>
<td style="TEXT-ALIGN: left">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">License
agreements</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
443</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(443</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(0</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,428</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,611</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
817</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="10">As&#xA0;of&#xA0;March&#xA0;31,&#xA0;2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Accumulated</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Cost</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Amortization</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Net</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 61%">Software</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,611</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">(718</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">)</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">893</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Trade name / Trademark</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2,473</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">2,473</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Customer list</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,220</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(1,220</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">(0</td>
<td style="TEXT-ALIGN: left">)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">License
agreements</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
443</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(443</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(0</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
5,747</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
(2,381</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,366</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company has included amortization of acquired intangible assets
directly attributable to revenue-generating activities in cost of
revenues. The Company has included amortization of acquired
intangible assets not directly attributable to revenue-generating
activities in operating expenses. During the years ended March 31,
2012 and 2011, the Company recorded amortization expense for
continuing operations&#xA0;in the amount of $230 and $295,
respectively, in cost of revenues; and amortization expense in the
amount of $0 and $54 respectively, in operating expenses. During
the years ended March 31, 2012 and 2011 the Company recorded
amortization expense for discontinued operations in the amount of
$0 and $26, respectively, in cost of revenues; and amortization
expense in the amount of $0 and $40, respectively, in operating
expenses.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Based
on the amortizable intangible assets as of March 31, 2012, we
estimate amortization expense for the next five years to be as
follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left" colspan="2">Amortization</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid" colspan="2">Year Ending
March 31,</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left" colspan="2">Expense</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left" colspan="2">(in thousands)</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 80%">2013</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 15%">232</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2014</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">232</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">2015</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
199</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
663</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;Below is a summary impairment of Goodwill and Intangible
assets:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Intangible<br />
Assets</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Goodwill</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt; WIDTH: 74%">Balance as of March 31,
2010</td>
<td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">
9,676</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%">
&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 10%">
53,066</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; WIDTH: 1%">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Impairment</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
4,482</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,546</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Balance as of March 31, 2011</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
14,158</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
54,612</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Impairment</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,319</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
2,969</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Balance as of March 31, 2012</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
16,477</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
57,581</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock">
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final.  May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905597&amp;loc=d3e13816-109267<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16265-109275<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 142<br><br> -Paragraph 42, 43, 44, 45, 46, 47<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16373-109275<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905858&amp;loc=d3e16323-109275<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 350<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6905597&amp;loc=d3e13854-109267<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Description of Stock Plans<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Description of Stock Plans</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>7.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Description of Stock Plans</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On May
26, 2011, our board of directors adopted the 2011 Equity Incentive
Plan of NeuMedia, Inc. and on April 27, 2012, our board of
directors amended and restated the plan and the related plan
documents to change references to the name of our company from the
&#x201C;NeuMedia, Inc.&#x201D; to &#x201C;Mandalay Digital Group,
Inc.&#x201D; and further directed that they be submitted to
stockholders for their consideration and approval. On May 23, 2012,
our stockholders approved and adopted by written consent the
Amended and Restated 2011 Equity Incentive Plan of Mandalay Digital
Group, Inc. (the &#x201C;Plan&#x201D;) and the Mandalay Digital
Group, Inc. Amended and Restated 2011 Equity Incentive Plan Notice
of Grant and Restricted Stock Agreement and the Mandalay Digital
Group, Inc. Amended and Restated 2011 Equity Incentive Plan Notice
of Grant and Stock Option Agreement (collectively, the
&#x201C;Related Documents&#x201D;).</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
September 27, 2007, the stockholders of the Company adopted the
2007 Employee, Director and Consultant Stock Plan
(&#x201C;Plan&#x201D;). Under the Plan, the Company may grant up to
3,000 shares or equivalents of common stock of the Company as
incentive stock options (ISO), non-qualified options (NQO), stock
grants or stock-based awards to employees, directors or
consultants, except that ISO&#x2019;s shall only be issued to
employees. Generally, ISO&#x2019;s and NQO&#x2019;s shall be issued
at prices not less than fair market value at the date of issuance,
as defined, and for terms ranging up to ten years, as defined. All
other terms of grants shall be determined by the board of directors
of the Company, subject to the Plan.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
February 12, 2008, the Company amended the Plan to increase the
number of shares of our common stock that may be issued under the
Plan to 7,000 shares and on March 7, 2008, amended the Plan to
increase the maximum number of&#xA0;shares of the Company's common
stock with respect to which stock rights may be granted in any
fiscal year to 1,100 shares. All other terms of the plan remain in
full force and effect.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>&#xA0;</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>Option Plans</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
following table summarizes options granted under the
Company&#x2019;s 2007 Employee, Director and Consultant Stock Plan
equity compensation plan for the years ended March 31, 2012 and
2011:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>(in&#xA0;thousands)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Number&#xA0;of</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">
Weighted&#xA0;Average</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Shares</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Exercise&#xA0;Price</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 74%">Outstanding at March 31, 2010</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">6,187</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">2.49</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Granted</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Canceled</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Exercised</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Outstanding at March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">6,187</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">1.79</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Granted</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Canceled</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(572</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">0.60</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Forfeited</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(817</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">2.55</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Exercised</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Outstanding at March 31, 2012</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
4,531</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1.80</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Exercisable at March 31,
2012</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
4,798</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1.80</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
April 2011, two former employees each agreed to cancel options to
purchase 173,622 shares of common stock in connection with their
respective termination agreements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
December 2011, the Company recorded the cancellation of 9,122
shares of common stock relating to three former employees.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company recorded the cancellation of 215,841 shares
of common stock.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
March 2012, the Company recorded the forfeiture of 816,667 shares
of common stock.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
exercise price for options outstanding and options exercisable at
March 31, 2012 was as follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 85%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Weighted</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Average</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Weighted</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Remaining</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Number</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Average</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Aggregate</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center" colspan="2">Range&#xA0;of</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">
Contractual&#xA0;Life</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Outstanding</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Exercise</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Intrinsic</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Exercise&#xA0;Price</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">(Years)</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">March&#xA0;31,&#xA0;2012</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Price</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Value</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 18%">$0 - $1.00</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 17%">4.27</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 17%">2,698</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 17%">0.47</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 17%">1,303,500</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">$2.00 - $3.00</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">6.22</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,300</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">2.75</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">$4.00 -
$5.00</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">5.87</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
800</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">4.75</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">5.06</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
4,798</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 2.5pt">1.80</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
1,303,500</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>Stock Plans</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">A
summary of the status of the Company&#x2019;s 2007 Employee,
Director and Consultant Stock Plan equity compensation plan,
nonvested options as of March 31, 2012 and 2011 pursuant to the
Plan, and changes during the years ended March 31, 2012 and 2011 is
presented below:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>(in&#xA0;thousands)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">
Weighted&#xA0;Average</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Number&#xA0;of</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Grant&#xA0;Date</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Shares</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Fair Value</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Nonvested at March 31, 2010</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="WIDTH: 74%">Granted</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,200</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">0.25</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Vested</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,200</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">0.25</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Exercised</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Nonvested at March 31, 2011</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>Granted</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Vested</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Exercised</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">Nonvested at March 31, 2012</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Cumulative forfeited, March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(218</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">0.61</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Cumulative forfeited, March 31, 2012</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(1,035</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">2.55</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Cumulative canceled, March 31, 2012</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">(572</td>
<td style="TEXT-ALIGN: left">)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">0.60</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, under the Company&#x2019;s 2007 Employee, Director
and Consultant Stock Plan equity compensation plan, there was $0 of
total unrecognized compensation cost related to nonvested
share-based compensation arrangements granted under the Plan. The
total fair value of shares vested during the year ended March 31,
2012 was $0, and $0 was forfeited to cover individual tax
withholdings. The total fair value of shares vested during the year
ended March 31, 2011 was $2,100, and $0 was forfeited to cover
individual tax withholdings.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>&#xA0;</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<i>Option Plans and Stock Plans</i></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Total
stock compensation expense for the Company&#x2019;s 2007 Employee,
Director and Consultant Stock Plan equity compensation plan and
Amended and Restated 2011 Equity Incentive Plan is included in the
following statements of operations components:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 70%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: right; COLOR: blue">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Twelve&#xA0;Months&#xA0;Ended</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Twelve&#xA0;Months&#xA0;Ended</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: right; COLOR: blue">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2012</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 74%">Product development</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">69</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">7</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Sales and marketing</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left"></td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left"></td>
<td style="TEXT-ALIGN: right">19</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">General and
administrative</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
7,233</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
413</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
7,302</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
439</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Statement of Position (SOP)<br><br> -Number 93-6<br><br> -Paragraph 53<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64, 65, A240<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 40<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 50<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6406099&amp;loc=d3e25284-112666<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R14.htm
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<TEXT>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Discontinued Operations<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock', window );">Discontinued Operations</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>8.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Discontinued Operations</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;The Company had been negotiating a restructuring of debt with
its senior debt holder for some time.&#xA0;&#xA0;These negotiations
were finalized on June 21, 2010.&#xA0;&#xA0;On that date, the
Company signed and closed a number of transactions, which included
the sale of AMV. Pursuant to the Agreement, ValueAct Small Cap
Master Fund, L.P.&#xA0;(&#x201C;ValueAct&#x201D;) and Nate MacLeitch
and Jonathan Cresswell (the &#x201C;AMV Founders&#x201D;), acting
through a newly formed company, acquired the operating subsidiaries
of AMV in exchange for the release of $23,231 of secured
indebtedness, which included a release of all amounts due and
payable under the&#xA0;secured promissory note in the aggregate
principal amount of $5,375 (the &#x201C;AMV Note&#x201D;)&#xA0;and
all of the amounts due and payable under the Senior Secured Note,
issued by Twistbox, due July 31, 2010, as amended on February 12,
2008 (the &#x201C;ValueAct Note&#x201D;) except for $3,500 in
principal, which is due in one lump sum principal payment on June
21, 2013. In addition, all intercompany balances at that date were
cancelled, and all shares of common stock and warrants of the
Company held by ValueAct were cancelled. In addition, approximately
3,541 shares of common stock of the Company held by two of the
founders of AMV were acquired by the Company.&#xA0;&#xA0;As of June
30, 2010 the Company accrued $300 to a related party pertaining to
the sale of AMV.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
accordance with FASB ASC 205-20, <i>Discontinued Operations</i>,
the operating results and net assets and liabilities related to AMV
were reclassified as of June 21, 2010 and reported as discontinued
operations in the accompanying consolidated financial
statements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
accordance with FASB ASC 360, Property, Plant and Equipment, the
Company recorded a gain of $4,200 on the sale of AMV.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
following is a summary of assets and liabilities of the
discontinued operations as of March 31, 2010 and as of the disposal
date of June 21, 2010 and the resulting gain on sale:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">June
21,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">March
31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2010</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">Assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="WIDTH: 74%">Cash</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">641</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,251</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Working Capital, net of cash</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,536</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,501</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Property and Equipment, net</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">591</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">668</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Goodwill and
intangibles</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
15,948</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
15,955</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">Net
Assets Sold</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold">
18,716</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold">
19,375</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Direct costs associated with the
sale</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1,173</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Currency translation adjustment</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">234</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Other</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
5</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
20,128</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">Consideration</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
24,343</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">Gain on
sale, net of taxes</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-WEIGHT: bold">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-WEIGHT: bold">
4,215</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">
&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
</table>
</div><span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e957-107759<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2941-110230<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1436-107760<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6390789&amp;loc=d3e2443-110228<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 144<br><br> -Paragraph 43-48<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1474-107760<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1020-107759<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1510-107760<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 20<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6892542&amp;loc=d3e1012-107759<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Debt<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Debt</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>10.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
Debt</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2012</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="FONT-STYLE: italic; FONT-WEIGHT: bold">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-WEIGHT: bold">Short
Term Debt</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; WIDTH: 74%">Note Payable</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">100</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Equipment Leases and accrued interest
on debt</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">2</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">15</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Senior secured note, short term
accrued interest</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">73</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">66</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">Secured Note,
short term accrued interest</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
92</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
75</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
273</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
March&#xA0;31,</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2012</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">2011</td>
<td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; FONT-STYLE: italic; FONT-WEIGHT: bold">Long Term
Debt</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt; WIDTH: 74%">
Senior secured note, including PIK interest, net of discount, of
$1,020 and $1,856, respectively</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,881</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">776</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt">
Convertible note, including accrued interest, net of discount, of
$1,132 and $0, respectively</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">60</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; TEXT-INDENT: -9pt; PADDING-LEFT: 9pt">
Secured note, including PIK interest</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
1,136</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right">
3,685</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
3,077</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 2.5pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left">
$</td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right">
4,461</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Convertible Debt</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 29, 2011, the Company sold and issued $7,000 of
subordinated short term convertible notes (the &#x201C;New
Convertible Note&#x201D;). The New Convertible Note is subordinated
to the New Senior Secured Notes. The New Convertible Note bears
interest at a rate of 3% per annum payable at the time of
conversion. The term of the New Convertible Note is the earlier of
(i) the date of the Company&#x2019;s next equity financing round or
(ii) the date that is one year following the date of the New
Convertible Note. The New Convertible Note will automatically
convert into shares of the Company&#x2019;s common stock one year
from the date of the New Convertible Note at a conversion price
equal to (x) if in connection with a next equity financing round, a
25% discount to the actual or implied stock price in such financing
or (y) if the Company does not complete the next equity financing
round within one year of the date of the New Convertible Note, at
75% of the average trading price of the Company&#x2019;s common
stock for the 30-day period immediately prior to conversion. In no
event shall the conversion price be less than $0.50.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
purchaser of the New Convertible Note also received a warrant
(&#x201C;Convertible Note Warrant&#x201D;) to purchase shares of
common stock of the Company. The number of shares which may be
purchased under the Convertible Note Warrant is equal to an amount
calculated by multiplying 25% by the quotient obtained by dividing
the amount of the principal under the New Convertible Note
outstanding immediately prior to conversion by the conversion
price. The conversion price is to be determined based on a
qualified event or one year with an exercise price of no less than
$0.50 per share. The Convertible Note Warrant has a five year term
and the issuer can require conversion of the Convertible Note
Warrant if (i) the common stock of issuer is traded on NASDAQ (or
other national stock exchange); (ii) for at least (60) consecutive
days at a price equal to or greater than 150% of the Conversion
Price, and (iii) the common stock has traded with an average daily
volume of at least 200,000 shares. The Convertible Note Warrant was
initially recorded as a derivative liability upon issuance. As
discussed in Note 12, the Company received a waiver from the Senior
Secured Convertible note holders on March 26, 2012 which allowed
the Company to reclassify the Convertible Note Warrant from a
derivative liability to additional paid-in capital.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company determined that the New Convertible Note has an embedded
conversion feature that is required to be bifurcated and measured
at fair value at each reporting. At the date of issuance, the fair
value of the embedded conversion feature and the Convertible Note
Warrant of the New Convertible Note was $6,078 using the
Black-Scholes option pricing model with the following
assumptions:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Expected life of 1 year</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Risk free interest rate of .12%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Dividend yield of 0%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Volatility of 175%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
The Company determined the fair value of the Convertible Note
Warrants to be $2,177, using the Black-Scholes option pricing model
with the following assumptions:</p>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Expected life of 5 years</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Risk free interest rate of .88%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Dividend yield of 0%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Volatility of 175%</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
The combined total discount pertaining to the conversion feature of
the New Convertible Note and the Convertible Note Warrant was
originally limited to the face value of the New Convertible Note of
$7,000 and is being amortized over the term of the New Convertible
Note, with the $1,255 fair value that exceeded the face value being
charged to operations as interest expense.</p>
<p style="MARGIN: 0pt 0px 0pt 1.5pt; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
On March 1, 2012, the Company amended the New Convertible Note
including the following amendments:</p>
<p style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
&#xA0;</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td style="TEXT-ALIGN: justify">The conversion price was amended to
$0.70 for the entire principal and all accrued and unpaid
interest.</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Symbol">
</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td style="TEXT-ALIGN: justify">The warrants to become exercisable
as of March 1, 2012. Previously the warrants could only be
exercised by the holder on or after the date on which the common
stock had traded on NASDAQ (or any other nationally recognized
securities exchange) at a price equal to or greater than the
conversion price for a period of 60 consecutive trading days with
an average daily volume of at least 200,000 shares.</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; TEXT-INDENT: -0.25in; MARGIN: 0pt 0px 0pt 0.5in; FONT: 10pt Times New Roman, Times, Serif">
</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td style="TEXT-ALIGN: justify">The warrant exercise price was
amended to $0.70.</td>
</tr>
</table>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
March 1, 2012, the entire amount of the New Convertible Note of
$7,000 including accrued interest of $37 was converted into 10,053
shares based on an agreed upon conversion rate of $0.70. The
Company assessed the debt modification for the New Convertible Note
and determined that it met the requirements for extinguishment
accounting per FASB ASC 470 and accordingly, recorded a gain on
extinguishment of debt of $2,117 for the year ended March 31,
2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company had recorded a debt discount based on the fair value of the
Convertible Note Warrant and the embedded conversion feature. Due
to the conversion of the New Convertible Note, the Company expensed
the $7,000 debt discount to interest expense.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>ValueAct Note</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As
described in Note 8, in connection with the disposal of AMV on June
21, 2010, all amounts due and payable under the AMV Note were
released, and the ValueAct Note was amended and restated in its
entirety and reduced to $3,500 of principal (the &#x201C;Amended
ValueAct Note&#x201D;).</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 16, 2011, the ValueAct Note was purchased in its entirety
by Taja LLC (&#x201C;Taja) and was amended to remove certain
negative covenants from the Note (the &#x201C;Amended Taja
Note&#x201D;). The Purchase of the ValueAct Note was independent of
the Company, and the Company did not receive or pay out any cash
related to this transaction.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
December 29, 2011, the Company and Taja entered into a binding term
sheet for convertible note financing (&#x201C;Taja Convertible
Note&#x201D;) and effectively a third amendment to the Second
Amended Note (&#x201C;Third Amended Note&#x201D;). The Taja
Convertible Note became effective on February 27, 2012. The Third
Amended Note (1) changed the maturity date from June 21, 2013 to
June 21, 2015, (2) extended the payment in kind (&#x201C;PIK&#x201D;)
election to the note through the revised term, and (3) stripped out
$3,000 of principal to create the Taja Convertible Note, leaving a
principal balance of $500 plus accrued interest of $562 for a total
of $1,062. As consideration for amending the note, Taja also
received a warrant (&#x201C;Incentive Warrant&#x201D;) to purchase
2,000 shares of common stock of the Company at an exercise price of
$0.25 per share, subject to adjustment. Taja also received 25%
warrant coverage (&#x201C;Coverage Warrant&#x201D;) determined by
dividing the principal amount of the Taja Convertible Note by the
conversion price multiplied by 25%. The Incentive Warrant and the
Coverage Warrant have a five year term and vest one year from issue
date. The Coverage Warrant was initially recorded as a derivative
liability upon issuance. As discussed in Note 12, the Company
received a waiver from the Senior Secured Convertible note holders
on March 26, 2012 which allowed the Company to reclassify the
Convertible Note Warrant from a derivative liability to additional
paid-in capital. The Company assessed the debt modification for the
Third Amended Note and determined that it met the requirements for
extinguishment accounting per FASB ASC 470 and accordingly,
recorded a loss on extinguishment of debt of $1,459 for the year
ended March 31, 2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
March 1, 2012, the Company and Taja entered into a second binding
term sheet (&#x201C;Amended Taja Convertible Note&#x201D;) to amend
certain provisions of the December 29, 2011 binding term sheet (1)
the maturity date was revised to March 1, 2014, (2) the conversion
price was amended to $0.70 share, (3) conversion of the note must
not cause the holder to exceed 4.9% ownership, except that on the
maturity date the entire remaining amount of principle and interest
shall automatically convert into shares of common stock of the
Company (4) the Amended Taja Convertible Note becomes accelerated
and immediately due and payable upon the consummation by the
Company of one or more equity sales from and after March 1, 2012
resulting in aggregate net proceeds of at least $10,000, (5) the
conversion date is to occur the earlier of (x) the date that the
long-form documents are executed and delivered to all parties, and
(y) March 19, 2012, (6) the 2,000 Incentive Warrants issued as
consideration for the Third Amended Note were amended to vest and
be exercisable one year from March 1, 2012, (7) the exercise date
of the Coverage Warrants was amended to one year following the
conversion date, and (8) the term sheet was binding on the parties
and their respective successors and assigns regardless of whether
the parties execute long form agreements, as opposed to the
previous term sheet that contemplated going to long form
agreements.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company determined that the Amended Taja Convertible Note has an
embedded conversion feature that is required to be bifurcated and
measured at fair value at each reporting. At the date of issuance,
the fair value of the embedded conversion feature was $2,250 using
the Black-Scholes option pricing model with the following
assumptions:</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Expected life of 1 years</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Risk free interest rate of .17%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Dividend yield of 0%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Volatility of 175%.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company determined the fair value of the Coverage Warrant and the
Incentive Warrant to be $750 and $1,459, respectively, using the
Black-Scholes option pricing model with the following
assumptions:</p>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Expected life of 5 years</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Risk free interest rate of .84%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Dividend yield of 0%</td>
</tr>
</table>
<table style="MARGIN-TOP: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-BOTTOM: 0pt" cellspacing="0" cellpadding="0" width="100%">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 0.25in"></td>
<td style="WIDTH: 0.25in"><font style="FONT-FAMILY: Symbol">&#xB7;</font></td>
<td>Volatility of 175%.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
combined total discount pertaining to the conversion factor of the
Taja Convertible Note and the Coverage warrant was originally
limited to the face value of the Taja Convertible Note of $3,000
and is being amortized over the term, with the $837 fair value of
the embedded conversion feature that exceeded the face value being
charged to operations as interest expense.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On
March 19, 2012, the Company issued 2,600 shares of its common stock
to Taja for the conversion of $1,820 of the Amended Taja
Convertible Note. The Company expensed to interest expense the debt
discount on a pro rata basis of the amount converted to the
original debt amount to reflect the conversion of the $1,820.
During the year ended March 31, 2012, the Company recorded interest
expense of $1,873 related to the amortization of the debt discount.
The remaining discount of $1,127 will be amortized over the period
ending March 1, 2014. The Company assessed the conversion of $1,820
and determined that it met the requirements for extinguishment
accounting per FASB ASC 470 and accordingly, recorded a gain on
extinguishment of debt of $1,346 for the year ended March 31,
2012.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, the $1,180 outstanding principal balance is
convertible into approximately 1,686,000 shares of common stock at
a conversion price of $0.70. At March 31, 2012, the if-converted
value exceeds the principal by approximately $405.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>Senior Secured Convertible Notes</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">On June
21, 2010, for purposes of capitalizing the Company, the Company
sold and issued $2,500 of Senior Secured Convertible Notes due June
21, 2013 of the Company (the &#x201C;New Senior Secured
Notes&#x201D;) to certain of the Company&#x2019;s significant
stockholders.&#xA0;&#xA0;The New Senior Secured Notes have a three
year term and bear interest at a rate of 10% per annum payable in
arrears semi-annually. The entire principal balance is due in one
lump sum payment on June 21, 2013. Notwithstanding the foregoing,
at any time on or prior to the 18th month following the original
issue date of the New Senior Secured Notes, the Company may, at its
option, in lieu of making any cash payment of interest, elect that
the amount of any interest due and payable on any interest payment
date on or prior to the 18th month following the original issue
date of the New Senior Secured Notes be added to the principal due
under the New Senior Secured Notes. The accrued and unpaid
principal and interest due on the New Senior Secured Notes are
convertible at any time at the election of the holder into shares
of common stock of the Company at a conversion price of $0.15 per
share, subject to adjustment. The New Senior Secured Notes are
secured by a first lien on substantially all of the assets of the
Company and its subsidiaries pursuant to the terms of that certain
Guarantee and Security Agreement, dated as of June 21, 2010, among
Twistbox, the Company, each of the subsidiaries thereof party
thereto, the investors party thereto and Trinad Management. The
Amended ValueAct Note is subordinated to the New Senior Secured
Notes pursuant to the terms of that certain Subordination
Agreement, dated as of June 21, 2010, by and between Trinad Capital
Master Fund, and ValueAct, and each of the Company and
Twistbox.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Each
purchaser of a New Senior Secured Note also received a warrant
(&#x201C;Warrant&#x201D;) to purchase shares of common stock of the
Company at an exercise price of $0.25 per share, subject to
adjustment.&#xA0;&#xA0;For each $1 of New Senior Secured Notes
purchased, the purchaser received a Warrant to purchase 3.33 shares
of common stock of the Company.&#xA0;&#xA0;Each Warrant has a five
year term.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Warrants granted to the New Senior Secured Note holders on June 21,
2010 and conversion feature in the New Senior Secured Notes are not
considered derivative instruments since the Warrants and the New
Senior Secured Notes have a set conversion price and all of the
requirements for equity classification were met. The Company
determined the fair value of the detachable warrants issued in
connection with the New Senior Secured Notes to be $1,678, using
the Black-Scholes option pricing model and the following
assumptions:&#xA0;&#xA0;expected life of&#xA0;5 years, a risk free
interest rate of&#xA0;2.05%, a dividend yield of 0% and volatility
of&#xA0;54.62%. In addition, the Company determined the value of
the beneficial conversion feature to be $5,833. The combined total
discount for the New Senior Secured Notes&#xA0;is&#xA0;limited to
the face value of the New Senior Secured Notes&#xA0;of $2,500 and
is being amortized over the term of the New Senior Secured Notes.
For the year ended March 31, 2012, the Company amortized $835 of
the aforesaid discounts as interest and financing costs in the
accompanying consolidated statements of operations. The remaining
discount of $1,020 will be amortized over the period ending June
21, 2013.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, the $2,974 outstanding principal and accrued
interest is convertible into approximately 19,827 shares of common
stock at a conversion price of $0.15. At March 31, 2012, the
if-converted value exceeds the principal and accrued interest by
approximately $474.</p>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 2, 4<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Segment and Geographic information<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
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        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0" align="center">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 12px; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 36px; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>15.</b></td>
<td style="TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Segment and Geographic information</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company operates in one reportable segment in which it is a
developer and publisher of branded entertainment content for mobile
phones. Revenues are attributed to geographic areas based on the
country in which the carrier&#x2019;s principal operations are
located. The Company attributes its long-lived assets, which
primarily consist of property and equipment, to a country primarily
based on the physical location of the assets. Goodwill and
intangibles are not included in this allocation. The following
information sets forth geographic information on our sales and net
property and equipment for the period ended March 31, 2012:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">North</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Other</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">America</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Europe</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Regions</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Consolidated</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Twelve Months ended March 31, 2012</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 44%">Net
sales to unaffiliated customers</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">215</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">4,977</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">2,038</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">7,230</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Property and equipment, net</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-LEFT: 9pt">at March 31, 2012</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">177</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">52</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">230</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<table style="WIDTH: 88%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">North</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Other</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">America</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Europe</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Regions</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center" colspan="2">Consolidated</td>
<td style="PADDING-BOTTOM: 1pt">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>Twelve Months ended March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-LEFT: 9pt; WIDTH: 44%">Net
sales to unaffiliated customers</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">688</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">6,819</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">1,679</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 2%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">9,186</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left">Property and equipment, net</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-LEFT: 9pt">at March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">322</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">65</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">1</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">388</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">Our
largest customer accounted for 41% of gross revenues in the year
ended March 31, 2012; and 49%&#xA0;in the year ended March 31,
2011.</p>
</div><span></span></td>
      </tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8595-108599<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8538-108599<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 33<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8971-108599<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 34<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8981-108599<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 29<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8864-108599<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8380-108599<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 35<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8984-108599<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 41<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9038-108599<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 32<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8933-108599<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 131<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8906-108599<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8844-108599<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 40<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9031-108599<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 42<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e9054-108599<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 280<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 31<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6534315&amp;loc=d3e8924-108599<br><br><br><br></p>
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      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Beginning Balance at Mar. 31, 2010</a></td>
        <td class="nump">$ 8,074<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 4<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 100<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 95,741<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">$ (419)<span></span></td>
        <td class="num">$ (87,352)<span></span></td>
      </tr>
      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Beginning Balance (in shares) at Mar. 31, 2010</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">39,776,597<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">(9,384)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(9,384)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Foreign currency translation</a></td>
        <td class="nump">128<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">128<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Deferred stock-based compensation</a></td>
        <td class="nump">251<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">251<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of common stock as part of compensation (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">300,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Issuance of common stock as part of compensation</a></td>
        <td class="nump">75<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">75<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_StockRetiredDuringPeriodShares', window );">Stock voided as part of disposal of subsidiary (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(561,798)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_StockRetiredDuringPeriodValue', window );">Stock voided as part of disposal of subsidiary</a></td>
        <td class="num">(197)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(197)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares', window );">Stock acquired by company as part of disposal of subsidiary (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(3,540,574)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue', window );">Stock acquired by company as part of disposal of subsidiary</a></td>
        <td class="num">(1,239)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="num">(71)<span></span></td>
        <td class="num">(1,168)<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt', window );">Issuance of convertible debt and associated warrants</a></td>
        <td class="nump">2,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Issuance of warrants</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">76<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">76<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet', window );">Repricing</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">113<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">172<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">113<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">172<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Stock issued for services (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">5,300,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Stock issued for services</a></td>
        <td class="nump">2,049<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2,049<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending Balance at Mar. 31, 2011</a></td>
        <td class="nump">2,618<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Ending Balance (in shares) at Mar. 31, 2011</a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">(30,707)<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease', window );">Foreign currency translation</a></td>
        <td class="nump">97<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of common stock as part of compensation (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Issuance of common stock as part of compensation</a></td>
        <td class="nump">69<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">69<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures', window );">Issuance of restricted stock (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">23,100,000<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures', window );">Issuance of restricted stock</a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">6,668<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">31<span></span></td>
        <td class="nump">568<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">2<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,666<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">31<span></span></td>
        <td class="nump">568<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued', window );">Issuance of warrants</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">133<span></span></td>
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        <td class="nump">4,374<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">133<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,374<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalOther', window );">Reclassification of derivative liabilities</a></td>
        <td class="nump">9,034<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">9,034<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_StockIssuedDuringPeriodSharesIssuedForCash', window );">Issuance of common stock for cash (in share)</a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">2,700<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesShares', window );">Convertible debt converted to stock (in shares)</a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesValue', window );">Convertible debt converted to stock</a></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">10,113<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Ending Balance at Mar. 31, 2012</a></td>
        <td class="nump">$ 5,699<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="rc">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesOutstanding', window );">Ending Balance (in shares) at Mar. 31, 2012</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">100,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Change in additional paid in capital due to call options and warrants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_AdjustmentsToAdditionalPaidInCapitalCallOptionsAndWarrantNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Issuance Of Common Stock In Exchange For Convertible Notes, Shares</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Issuance Of Common Stock In Exchange For Convertible Notes, Value</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_IssuanceOfCommonStockInExchangeForConvertibleNotesValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_StockIssuedDuringPeriodSharesIssuedForCash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued as consideration for cash.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_StockIssuedDuringPeriodSharesIssuedForCash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_StockIssuedDuringPeriodValueIssuedForCash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock issued as consideration for cash.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_StockIssuedDuringPeriodValueIssuedForCash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_StockRetiredDuringPeriodShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares that has been retired during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_StockRetiredDuringPeriodShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mndl_StockRetiredDuringPeriodValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock that has been retired during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>mndl_StockRetiredDuringPeriodValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>mndl_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment to additional paid in capital resulting from the recognition of convertible debt instruments as two separate components - a debt component and an equity component. This bifurcation may result in a basis difference associated with the liability component that represents a temporary difference for purposes of applying accounting for income taxes. The initial recognition of deferred taxes for the tax effect of that temporary difference is as an adjustment to additional paid in capital.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 20<br><br> -Section 65<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6948817&amp;loc=SL6052262-162007<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 20<br><br> -Section 25<br><br> -Paragraph 22<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928081&amp;loc=SL6014347-161799<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name FASB Staff Position (FSP)<br><br> -Number APB14-1<br><br> -Paragraph 12<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalOther">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents increases or decreases in additional paid in capital not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalOther</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6576910&amp;loc=d3e11149-113907<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A91<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 20<br><br> -Section 55<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6576910&amp;loc=d3e11178-113907<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 39<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Increase in additional paid in capital due to warrants issued during the period. Includes also the proceeds of debt securities issued with detachable stock purchase warrants that are allocable to the warrants. These warrants qualify for equity classification and provide the holder with a right to purchase stock from the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Warrant<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528364<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 31<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 20<br><br> -Section 25<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6923874&amp;loc=d3e4724-112606<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 14<br><br> -Paragraph 16<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToAdditionalPaidInCapitalWarrantIssued</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6943989&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6880815&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph a<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920043&amp;loc=d3e565-108580<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A7<br><br> -Appendix A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 10, 15<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Emerging Issues Task Force (EITF)<br><br> -Number 87-21<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Article 5<br><br> -Section 03<br><br> -Paragraph 19<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 95<br><br> -Paragraph 28, 29, 30<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into the reporting currency of the reporting entity, net of tax.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 20<br><br> -Subparagraph (b),(c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6915805&amp;loc=d3e32211-110900<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 55<br><br> -Paragraph 2<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6920433&amp;loc=d3e998-108581<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 24<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph 38<br><br> -Subparagraph c(3)<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 130<br><br> -Paragraph 14, 17, 19, 26<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 52<br><br> -Paragraph 13, 20, 31<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesOutstanding">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued and outstanding as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharesOutstanding</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Research Bulletin (ARB)<br><br> -Number 51<br><br> -Paragraph A3<br><br> -Appendix A<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6228006&amp;loc=d3e74512-122707<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of new stock issued during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesNewIssues</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 4, 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 129<br><br> -Paragraph 5<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueNewIssues</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock related to Restricted Stock Awards issued during the period, net of the stock value of such awards forfeited.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph A240<br><br> -Subparagraph b<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6959260&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 123R<br><br> -Paragraph 64<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodShares">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of shares that have been repurchased and retired during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockRepurchasedAndRetiredDuringPeriodShares</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedAndRetiredDuringPeriodValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Equity impact of the value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher AICPA<br><br> -Name Accounting Principles Board Opinion (APB)<br><br> -Number 12<br><br> -Paragraph 10<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockRepurchasedAndRetiredDuringPeriodValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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    </div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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  <body><span style="display: none;">v2.4.0.6</span><table class="report" border="0" cellspacing="2" id="ID0EAD">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Fair Value Measurements<br></strong></div>
        </th>
        <th class="th" colspan="1">12 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value Measurements</a></td>
        <td class="text"><div style="FONT: 10pt Times New Roman, Times, Serif">
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 1%; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 5%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>4.</b></td>
<td style="WIDTH: 94%; TEXT-AUTOSPACE: ideograph-numeric; FONT-WEIGHT: bold">
<b>Fair Value Measurements</b></td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;The Company applies the provisions of ASC 820-10,
<i>&#x201C;Fair Value Measurements and Disclosures.&#x201D;</i> ASC
820-10 defines fair value, and establishes a three-level valuation
hierarchy for disclosures of fair value measurement that enhances
disclosure requirements for fair value measures. The carrying
amounts reported in the consolidated balance sheets for receivables
and current liabilities each qualify as financial instruments and
are a reasonable estimate of their fair values because of the short
period of time between the origination of such instruments and
their expected realization and their current market rate of
interest. The three levels of valuation hierarchy are defined as
follows:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 8%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 4%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric">
&#xB7; &#xA0;&#xA0;&#xA0;</td>
<td style="WIDTH: 88%; TEXT-AUTOSPACE: ideograph-numeric">Level 1
inputs to the valuation methodology are quoted prices for identical
assets or liabilities in active markets.</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: top">
<td style="FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric">
&#xB7; &#xA0;&#xA0;&#xA0;</td>
<td style="TEXT-AUTOSPACE: ideograph-numeric">Level 2 inputs to the
valuation methodology include quoted prices for similar assets and
liabilities in active markets, and inputs that are observable for
the asset or liability, either directly or indirectly, for
substantially the full term of the financial instrument.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 100%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 8%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric">
&#xA0;</td>
<td style="WIDTH: 4%; FONT-FAMILY: Symbol; TEXT-AUTOSPACE: ideograph-numeric">
&#xB7;</td>
<td style="WIDTH: 88%; TEXT-AUTOSPACE: ideograph-numeric">Level 3
inputs to the valuation methodology are unobservable and
significant to the fair value measurement.</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company analyzes all financial instruments with features of both
liabilities and equity under ASC 480, <i>&#x201C;Distinguishing
Liabilities From Equity&#x201D;</i> and ASC 815,
<i>&#x201C;Derivatives and Hedging.&#x201D;</i> Derivative
liabilities are adjusted to reflect fair value at each period end,
with any increase or decrease in the fair value being recorded in
results of operations as adjustments to fair value of derivatives.
The effects of interactions between embedded derivatives are
calculated and accounted for in arriving at the overall fair value
of the financial instruments. In addition, the fair values of
freestanding derivative instruments such as warrant and option
derivatives are valued using the Black-Scholes model.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company uses Level 2 inputs for its valuation methodology for the
warrant derivatives as their fair values were determined by using
the Black-Scholes option pricing model based on various
assumptions. The Company&#x2019;s derivative liabilities are
adjusted to reflect fair value at each period end, with any
increase or decrease in the fair value being recorded in results of
operations as adjustments to fair value of derivatives.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">At
March 31, 2012, the Company determined the fair value of the
derivative warrant liability to be $452 using the Black-Scholes
option pricing model with the following assumptions: 1) expected
life 4 years, 2) a risk free interest rate of .51%, 3) a dividend
yield of 0% and 4) a volatility of 175%.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company identified the following liabilities that are required to
be presented on the balance sheet at fair value:</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><u>Measured at Fair Value on a Recurring Basis</u></b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 80%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td>Warrant&#xA0;derivative&#xA0;liabilities</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">&#xA0;</td>
<td>&#xA0;</td>
</tr>
<tr style="VERTICAL-ALIGN: bottom">
<td>(in&#xA0;thousands)</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Total</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Level&#xA0;1</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Level&#xA0;2</td>
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: center" colspan="2">Level&#xA0;3</td>
<td>&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="WIDTH: 48%">March 31, 2012</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">452</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">452</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">$</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">-</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td>&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td>March 31, 2011</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">223</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">223</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">$</td>
<td style="TEXT-ALIGN: right">-</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b>&#xA0;</b></p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 60%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 81%; FONT-SIZE: 10pt">
Balance at March 31, 2010</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 2%; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 1%; FONT-SIZE: 10pt">
$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 15%; FONT-SIZE: 10pt">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; WIDTH: 1%; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt">
Total gains or losses (realized/unrealized) included in
earnings</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
-</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt">
Purchases, issuances and settlements</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
223</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">Balance
at March 31, 2011</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
$</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
223</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt">
Total gains or losses (realized/unrealized) included in
earnings</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
4,447</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0.24in; FONT-SIZE: 10pt">
Purchases, issuances and settlements</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
(4,218</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
)</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">Balance
at March 31, 2012</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
$</td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
452</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
Total amount of gains and losses for the period included in
earnings attributable to the change in unrealized gains or losses
related to liabilities still held at March 31, 2012</td>
<td style="PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
<td style="TEXT-ALIGN: right; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
4,447</td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; FONT-SIZE: 10pt">
&#xA0;</td>
</tr>
</table>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
warrant derivative liability is included in the accompanying
consolidated balance sheet, and is discussed further at Note
12.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company did not identify any other recurring assets and liabilities
that are required to be presented in the consolidated balance
sheets at fair value in accordance with ASC 825.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
<b><u>Measured at Fair Value on A Nonrecurring Basis</u></b></p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Certain assets&#xA0;and liabilities are measured at fair value on a
nonrecurring basis; that is, the instruments are not measured at
fair value on an ongoing basis but are subject to fair value
adjustments in certain circumstances (for example, when there is
evidence of impairment). The following table presents the assets
and liabilities carried on the balance sheet by caption and by
level within the fair value hierarchy (as described above) as of
March 31, 2012 and 2011, for which a nonrecurring change in fair
value has been recorded during the years ended March 31, 2012 and
2011.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<table style="WIDTH: 90%; BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: bottom">
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="10">
Carrying&#xA0;value&#xA0;at&#xA0;March&#xA0;31,&#xA0;2012</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Level&#xA0;1</td>
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
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Level&#xA0;2</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
as&#xA0;of&#xA0;March&#xA0;31,&#xA0;2012</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
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<td style="WIDTH: 35%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
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<td style="TEXT-ALIGN: left">Goodwill and other intangible
assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">4,457</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right"></td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right"></td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">4,457</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">74,058</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
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&#xA0;</p>
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<td style="FONT-WEIGHT: bold">&#xA0;</td>
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<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
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Carrying&#xA0;value&#xA0;at&#xA0;March&#xA0;31,&#xA0;2011</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
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<td style="FONT-WEIGHT: bold">&#xA0;</td>
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2">
Level&#xA0;1</td>
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Level&#xA0;2</td>
<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
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Level&#xA0;3</td>
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<td style="TEXT-ALIGN: center; FONT-WEIGHT: bold">&#xA0;</td>
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as&#xA0;of&#xA0;March&#xA0;31,&#xA0;2011</td>
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<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
<td style="TEXT-ALIGN: right; WIDTH: 10%">&#xA0;</td>
<td style="TEXT-ALIGN: left; WIDTH: 1%">&#xA0;</td>
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<td style="TEXT-ALIGN: left">Goodwill and other intangible
assets</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">9,975</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right"></td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right"></td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">9,975</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td>&#xA0;</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
<td style="TEXT-ALIGN: right">68,770</td>
<td style="TEXT-ALIGN: left">&#xA0;</td>
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<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
Goodwill and other intangible assets measured at fair value on a
nonrecurring basis relate to goodwill and intangible assets that
were acquired in connection with an acquisition. Losses of $74,058
and $68,770 represent the cumulative impairment charge related to
these intangible assets recorded in fiscal&#xA0;years 2012 and
2011, respectively. The fair value of these intangible assets was
calculated based on the methods and criteria described in Note 9
&#x2013; Goodwill and Intangible Assets.</p>
<p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company performs a review of the fair value of goodwill and
intangible assets. Fair value is defined under ASC 820, Fair Value
Measurements and Disclosures as, &#x201C;The price that would be
received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement
date&#x201D;.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6925170&amp;loc=d3e19296-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 159<br><br> -Paragraph 17-22, 27, 28<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13433-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15C, 15D<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13504-108611<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 107<br><br> -Paragraph 15A<br><br> -Subparagraph a-d<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6947722&amp;loc=d3e13537-108611<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 133<br><br> -Paragraph 44A, 44B<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  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31</td>
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2012</td>
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2011</td>
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Federal Income Taxes</td>
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&#xA0;</td>
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(10,086</td>
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&#xA0;</td>
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(2,528</td>
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<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">(1,447</td>
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<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">(440</td>
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goodwill and other perm diff</td>
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<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt">&#xA0;</td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">535</td>
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<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt">88</td>
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Increase in Valuation Allowance</td>
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&#xA0;</td>
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9,765</td>
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&#xA0;</td>
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2,680</td>
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&#xA0;</td>
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110</td>
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&#xA0;</td>
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&#xA0;</td>
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(562</td>
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Less discontinued Operations</td>
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&#xA0;</td>
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-</td>
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&#xA0;</td>
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809</td>
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&#xA0;</td>
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110</td>
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&#xA0;</td>
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&#xA0;</td>
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247</td>
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&#xA0;&#xA0;</p>
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Deferred tax assets and liabilities consist of the following:</p>
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&#xA0;</p>
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<font style="FONT-SIZE: 10pt">Year Ended</font></td>
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<font style="FONT-SIZE: 10pt">Year Ended</font></td>
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<font style="FONT-SIZE: 10pt">March 31,</font></td>
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<font style="FONT-SIZE: 10pt">March 31,</font></td>
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<font style="FONT-SIZE: 10pt">2012</font></td>
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<font style="FONT-SIZE: 10pt">2011</font></td>
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<td><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
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<font style="FONT-SIZE: 10pt">Net Operating Loss
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<td style="WIDTH: 1%; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">24,188</font></td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="WIDTH: 1%; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; WIDTH: 15%; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">22,891</font></td>
<td style="TEXT-ALIGN: left; WIDTH: 1%; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Amortization of Intangible Asset</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">(1,404</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">)</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">(1,404</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">)</font></td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Stock-based compensation</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">11,735</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">3,358</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Credit Carryforwards</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">(248</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">)</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">-</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Other</font></td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">54</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">(15</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">)</font></td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Deferred Tax</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">34,326</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="TEXT-ALIGN: right; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">24,830</font></td>
<td style="TEXT-ALIGN: left; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
</tr>
<tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">Valuation Allowance</font></td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">(34,326</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">)</font></td>
<td style="PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">(24,830</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">)</font></td>
</tr>
<tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom">
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">Net Deferred Tax Asset</font></td>
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">-</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
<td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">-</font></td>
<td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt; FONT-SIZE: 10pt">
<font style="FONT-SIZE: 10pt">&#xA0;</font></td>
</tr>
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<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">In
accordance with ASC 740 and based on all available evidence on a
jurisdictional basis, the Company believes that, it is more likely
than not that its deferred tax assets will not be utilized, and has
recorded a full valuation allowance against its net deferred tax
assets in each jurisdiction.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, the Company had net operating loss (NOL)
carry-forwards to reduce future Federal income taxes of
approximately $60,355, expiring in various years ranging through
2031. Utilization of the NOLs may be subject to a substantial
annual limitation due to ownership change limitations that may have
occurred or that could occur in the future, as required by Section
382 of the Internal Revenue Code of 1986, as amended (the "Code"),
as well as similar state limitations.&#xA0;&#xA0;These ownership
changes may limit the amount of NOLs that can be utilized annually
to offset future taxable income and tax,
respectively.&#xA0;&#xA0;In general, an "ownership change" as
defined by Section 382 of the Code, results from a transaction of
series of transactions over a three-year period resulting in an
ownership change of more than 50 percentage points of the
outstanding stock by a company by certain stockholders or public
groups.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">As of
March 31, 2012, realization of the Company's net deferred tax asset
of approximately $34,326 was not considered more likely than not
and, accordingly, a valuation allowance of $34,326 has been
provided. During the year ended March 31, 2012, the valuation
allowance increased by $9,496.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">ASC 740
requires the consideration of a valuation allowance to reflect the
likelihood of realization of deferred tax
assets.&#xA0;&#xA0;Significant management judgment is required in
determining any valuation allowance recorded against deferred tax
assets.</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">
&#xA0;</p>
<p style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">The
Company adopted the provisions of ASC 740 on January 1, 2008 and
there was no difference between the amounts of unrecognized tax
benefits recognized in the balance sheet prior to the adoption of
ASC 740 and those after the adoption of ASC 740. There were no
unrecognized tax benefits not subject to valuation allowance as at
March 31, 2012 and March 31, 2011. The Company recognized no
interest and penalties on income taxes in its statement of
operations for the year ended March 31, 2012; or the year ended
March 31, 2011.&#xA0;&#xA0;Management has evaluated and concluded
that there are no significant uncertain tax positions requiring
recognition in the Company&#x2019;s financial statements as of March
31, 2012. The Company&#x2019;s Federal and State income tax returns
remain subject to examination for all tax years ended 2008 and
2007, respectively. The Company is currently under audit
examination by the IRS of the tax year December 31, 2010.</p>
</div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 136, 172<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Statement of Financial Accounting Standard (FAS)<br><br> -Number 109<br><br> -Paragraph 43, 44, 45, 46, 47, 48, 49<br><br> -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6881521&amp;loc=d3e23780-122690<br><br><br><br></p>
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