NOTE 20 - RECONCILIATION OF EPS	3 Months Ended
Jun. 30, 2012
Earnings Per Share [Text Block]	NOTE 20 – RECONCILIATION OF EPS For the three months ended June 30, 2012 and 2011, the basic shares include: founders shares, shares sold in the market, shares sold in a private placement, shares sold in the IPO, shares sold in the registered direct, shares arising from the exercise of warrants issued in the placement of debt, shares issued in connection with debt, shares issued to employees, directors and vendors, and shares issued in connection to the acquisition of Ironman: (i) to HK Ironman shareholders (the “Exchange Shares”) and (ii) to Ironman and IGC employees (the “Compensation Shares”). The fully diluted shares include the basic shares plus warrants issued as part of the units sold in the private placement and IPO, warrants sold as part of the units sold in the registered direct, and employee options. The historical weighted average per share for our shares through June 30, 2012, was applied using the treasury method of calculating the fully diluted shares. The weighted average number of shares outstanding as of June 30, 2012 used for the computation of basic EPS is 39,059,336. Due to the loss incurred during the year ended June 30, 2012, all of the potential equity shares are anti-dilutive and accordingly, the diluted EPS is equal to the basic EPS.

NOTE 20 - RECONCILIATION OF EPS

3 Months Ended

Jun. 30, 2012

NOTE 20 – RECONCILIATION OF EPS

For the three months ended June 30, 2012 and 2011, the basic shares include: founders shares, shares sold in the market, shares sold in a private placement, shares sold in the IPO, shares sold in the registered direct, shares arising from the exercise of warrants issued in the placement of debt, shares issued in connection with debt, shares issued to employees, directors and vendors, and shares issued in connection to the acquisition of Ironman: (i) to HK Ironman shareholders (the “Exchange Shares”) and (ii) to Ironman and IGC employees (the “Compensation Shares”). The fully diluted shares include the basic shares plus warrants issued as part of the units sold in the private placement and IPO, warrants sold as part of the units sold in the registered direct, and employee options. The historical weighted average per share for our shares through June 30, 2012, was applied using the treasury method of calculating the fully diluted shares. The weighted average number of shares outstanding as of June 30, 2012 used for the computation of basic EPS is 39,059,336. Due to the loss incurred during the year ended June 30, 2012, all of the potential equity shares are anti-dilutive and accordingly, the diluted EPS is equal to the basic EPS.

- Definition

The entire disclosure for earnings per share.

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