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5. CONVERTIBLE NOTES PAYABLE (Tables)
 9 Months Ended 12 Months Ended
Dec. 31, 2014
Mar. 31, 2014
Convertible notes payable

Convertible Notes Payable consisted of the following at December 31, 2014:

 

   Principal   Unamortized
Discount		   Net
Amount		   Accrued
Interest		 
Convertible Notes Payable – Non-Current Portion:                
November 2014 10% Convertible Notes   527,780    (465,687)   62,093    2,680 
April 2011 12% Convertible Notes   202,159    –    202,159    8,064 
Total – Convertible Notes Payable – Non-Current Portion   729,939    (465,687)   264,252    10,744 
Total Convertible Notes Payable  $729,939   $(465,687)  $264,252   $10,744 

 

Convertible Notes Payable consisted of the following at March 31, 2014:

 

    Principal     Unamortized
Discount		     Net
Amount		     Accrued
Interest		  
Convertible Notes Payable – Current Portion:                                
Amended and Restated Series A 12% Convertible Notes, past due   $ 885,000     $ –     $ 885,000     $ 575,250  
2008 10% Convertible Notes, past due     25,000       –       25,000       19,167  
October & November 2009 10% Convertible Notes     50,000       –       50,000       26,097  
April 2010 10% Convertible Note     75,000       –       75,000       31,438  
July and August 2011 10% Convertible Notes, past due     257,655       –       257,655       90,256  
Law Firm Note     75,000       –       75,000       7,604  
Total – Convertible Notes Payable – Current Portion     1,367,655       –       1,367,655       749,812  
                                 
Convertible Notes Payable – Non-Current Portion:                                
September 2010 12% Convertible Notes     317,072       –       317,072       35,034  
April 2011 12% Convertible Notes     448,448       –       448,448       12,117  
September 2011 12% Convertible Notes     10,931       –       10,931       –  
Total – Convertible Notes Payable – Non-Current Portion     776,451       –       776,451       47,151  
Total Convertible Notes Payable   $ 2,144,106     $ –     $ 2,144,106     $ 796,963  

 

Convertible Notes Payable consisted of the following at March 31, 2014:

 

    Principal     Unamortized 
Discount		     Net 
Amount		     Accrued 
Interest		  
Convertible Notes Payable – Current Portion:                                
Amended and Restated Series A 12% Convertible Notes, past due   $ 885,000     $          –     $ 885,000     $ 575,250  
2008 10% Convertible Notes, past due     25,000       –       25,000       19,167  
October & November 2009 10% Convertible Notes     50,000       –       50,000       26,097  
April 2010 10% Convertible Note     75,000       –       75,000       31,438  
July and August 2011 10% Convertible Notes, past due     257,655       –       257,655       90,256  
Law Firm Note     75,000       –       75,000       7,604  
  Total – Convertible Notes Payable – Current Portion     1,367,655       –       1,367,655       749,812  
                                 
Convertible Notes Payable – Non-Current Portion:                                
September 2010 12% Convertible Notes     317,072       –       317,072       35,034  
April 2011 12% Convertible Notes     448,448       –       448,448       12,117  
September 2011 12% Convertible Notes     10,931       –       10,931       -  
  Total – Convertible Notes Payable – Non-Current Portion     776,451       –       776,451       47,151  
    Total Convertible Notes Payable   $ 2,144,106     $ –     $ 2,144,106     $ 796,96  

 

Convertible Notes Payable consisted of the following at March 31, 2013:

 

    Principal     Unamortized 
Discount		     Net 
Amount		     Accrued 
Interest		  
Amended and Restated Series A 12% Convertible Notes, past due   $ 885,000     $ –     $ 885,000     $ 398,250  
2008 10% Convertible Notes, past due     25,000       –       25,000       15,417  
December 2006 10% Convertible Notes, past due     17,000       –       17,000       15,888  
October & November 2009 10% Convertible Notes     50,000       (389 )     49,611       20,000  
April 2010 10% Convertible Note     75,000       (3,895 )     71,105       23,938  
September 2010 10% Convertible Notes, past due     308,100       –       308,100       52,393  
April 2011 10% Convertible Notes, past due     400,400       –       400,400       100,100  
July and August 2011 10% Convertible Notes, $257,656 past due     357,655       –       357,655       68,704  
September 2011 Convertible Notes, past due     178,760       –       178,760       –  
Law Firm Note     75,000       –       75,000       3,854  
Total – Convertible Notes Payable   $ 2,371,915     $ (4,284 )   $ 2,367,631     $ 698,544  

 
Activity in Convertible Notes  

The following table shows the conversions into principal of the October and November 2009 Convertible Notes by fiscal year:

 

Activity in October & November 2009 10% Convertible Notes
Initial principal balance   $ 450,250  
Conversions during the fiscal year ended March 31, 2010     (70,000 )
Conversions during the fiscal year ended March 31, 2011     (175,000 )
Conversions during the fiscal year ended March 31, 2012     (130,250 )
Conversions during the fiscal year ended March 31, 2013     (25,000 )
Conversions during the fiscal year ended March 31, 2014     --  
Balance as of March 31, 2014   $ 50,000

  

The following table shows the activity in the September 2010 10% Convertible Notes by fiscal year:

 

Activity in the September 2010 10% Convertible Notes
Initial principal balance   $ 743,600  
Conversions during the fiscal year ended March 31, 2012     (405,500 )
Conversions during the fiscal year ended March 31, 2013     (30,000 )
Conversions during the fiscal year ended March 31, 2014     (25,000 )
Increase in principal balance due to 12% extension fee     33,972  
Balance as of March 31, 2014   $ 317,072  

The following table shows the conversions into principal of the September 2011 Convertible Notes by fiscal year:

 

Activity in the September 2011 Convertible Notes
Initial principal balance   $ 253,760  
Conversions during the fiscal year ended March 31, 2012     (15,000 )
Conversions during the fiscal year ended March 31, 2013     (60,000 )
Conversions during the fiscal year ended March 31, 2014     (169,000 )
Increase in principal balance due to extension fee     1,171  
Balance as of March 31, 2014   $ 10,931  

 
April 2011 12% Convertible Notes    
Activity in Convertible Notes
Activity in the April 2011 12% Convertible Notes
Initial principal balance   $ 400,400  
Increase in principal balance due to extension fee     48,048  
Conversions during the nine months ended December 31, 2014     (246,289 ) 
Balance as of December 31, 2014   $ 202,159  
  
October and November 2009 10% Convertible Notes [Member]    
Activity in Convertible Notes
Activity in October & November 2009 10% Convertible Notes
Initial principal balance   $ 450,250  
Conversions during the fiscal year ended March 31, 2010     (70,000 )
Conversions during the fiscal year ended March 31, 2011     (175,000 )
Conversions during the fiscal year ended March 31, 2012     (130,250 )
Conversions during the fiscal year ended March 31, 2013     (25,000 )
Conversions during the fiscal year ended March 31, 2014     -  
Conversions into equity unit structure during the nine months ended December 31, 2014     (50,000 ) 
Balance as of December 31, 2014   $ –  
  
September 2010 12% Convertible Notes [Member]    
Activity in Convertible Notes
Activity in the September 2010 12% Convertible Notes
Initial principal balance   $ 743,600  
Conversions during the fiscal year ended March 31, 2012     (405,500 )
Conversions during the fiscal year ended March 31, 2013     (30,000 )
Conversions during the fiscal year ended March 31, 2014     (25,000 )
Increase in principal balance due to 12% extension fee     33,972  
Conversions during the nine months ended December 31, 2014     (317,072 ) 
Balance as of December 31, 2014   $ –  
  
September 2011 12% Convertible Notes [Member]    
Activity in Convertible Notes
Activity in the September 2011 Convertible Notes
Initial principal balance   $ 253,760  
Conversions during the fiscal year ended March 31, 2012     (15,000 )
Conversions during the fiscal year ended March 31, 2013     (60,000 )
Conversions during the fiscal year ended March 31, 2014     (169,000 )
Increase in principal balance due to extension fee     1,171  
Conversions during the nine months ended December 31, 2014     (10,931 ) 
Balance as of December 31, 2014   $ –