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12. COMMITMENTS AND CONTINGENCIES | 9 Months Ended
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Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS AND CONTINGENCIES | LEGAL MATTERS From time to time, claims are made against us in the ordinary course of business, which could result in litigation. Claims and associated litigation are subject to inherent uncertainties and unfavorable outcomes could occur, such as monetary damages, fines, penalties or injunctions prohibiting us from selling one or more products or engaging in other activities. The occurrence of an unfavorable outcome in any specific period could have a material adverse effect on our results of operations for that period or future periods. Other than as mentioned here, we are not presently a party to any pending or threatened legal proceedings. On July 5, 2012, Gemini Master Fund, Ltd., a Cayman Islands company ("Gemini"), filed a complaint against us in the Supreme Court of the State of New York, County of New York, entitled Gemini Master Fund Ltd. v. Aethlon Medical, Inc., Index No. 652358/2012 (the "Complaint"). In the Complaint, Gemini is seeking relief both in the form of money damages and delivery of shares of our common stock. The Complaint alleges, among other things, that we are in default of a certain promissory note originally issued to Gemini on February 12, 2010 by failing to pay the note in full and by failing to honor certain requests by Gemini to convert principal and interest under the note into shares of the Company's common stock. The Complaint also alleges that we failed to issue shares upon the presentation of an exercise notice under a warrant originally issued to Gemini on November 22, 2010. The lawsuit also alleges that we should have issued shares pursuant to the exercise of a warrant issued in 2009. We believe that we have defenses to the claims asserted and we continue to vigorously defend the lawsuit. The parties in the lawsuit have filed cross motions for summary judgment on some of the claims. No trial date has yet been set. There can be no assurances, however, that the litigation will be decided in our favor as to all, or any part, of Gemini's Complaint. An adverse decision in the litigation could have an adverse effect on our operations and could be dilutive to our shareholders. In relation to this matter, we accrued $1,000,000 at December 31, 2013 for possible settlement. Although the parties to the lawsuit are in on-going settlement discussions at the time this Form 10-Q is filed and no assurance exists that a settlement will be reached, the accrual was made based on the possibility that a settlement might be reached that would result in the issuance of equity instruments to satisfy the exercise of various warrants. The accrual is included in other expense and other current liabilities on the accompanying condensed consolidated financial statements. LEASES We currently rent approximately 2,300 square feet of executive office space at 8910 University Center Lane, Suite 660, San Diego, CA 92122 at the rate of $7,299 per month on a lease that expires in September 2014 based on a one year extension signed in August 2013. We also rent approximately 1,700 square feet of laboratory space at 11585 Sorrento Valley Road, Suite 109, San Diego, California 92121 at the rate of $2,917 per month on a two year lease that expires in October 2014. In October 2013, our Exosome Sciences, Inc. (ESI) subsidiary entered into a one year lease for approximately 2,055 square feet of laboratory space at 11 Deer Park Drive, Suite 103, Monmouth Junction, New Jersey 08852 at the rate of $3,425 per month.

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