|
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
|
Jun. 30, 2012
|
Mar. 31, 2012
|
| Current Assets: |
|
|
| Cash |
$ 14,996 |
|
| Restricted cash |
|
|
| Accounts receivable, net of allowance of $8,400 |
29,135 |
|
| Note receivable |
|
|
| Inventories |
6,132 |
|
| Prepaid expenses |
23,281 |
|
| Employee advances |
2,837 |
|
| Total Current Assets |
76,381 |
|
| Property and Equipment, net of accumulated depreciation of $218,916 and $230,784, respectively |
16,468 |
|
| Total Assets |
92,849 |
|
| Current Liabilities: |
|
|
| Notes payable, net of discount of $102,224 and $0, respectively |
152,767 |
|
| Notes payable, related party |
2,087,894 |
|
| Accounts payable |
787,799 |
|
| Deferred revenue |
71,542 |
|
| Payroll tax liabilities |
340,628 |
|
| Accrued expenses |
219,028 |
|
| Total Current Liabilities |
3,659,658 |
|
| Stockholders' Deficit |
|
|
| Convertible preferred stock, par value $1.00; authorized 10,000,000 shares, 276,000 shares of Series H authorized, 1,000 shares issued and outstanding |
1,000 |
|
| Common stock, par value $.01; authorized 50,000,000 shares, 15,920,088 shares issued and outstanding |
159,201 |
|
| Additional paid-in capital |
14,283,077 |
|
| Accumulated deficit |
(18,010,087) |
|
| Total Stockholders’ Deficit |
(3,566,809) |
(4,023,445) |
| Total Liabilities and Stockholders’ Deficit |
92,849 |
|
|
Unaudited
|
|
|
| Current Assets: |
|
|
| Cash |
|
57,224 |
| Restricted cash |
|
500,000 |
| Accounts receivable, net of allowance of $8,400 |
|
21,645 |
| Note receivable |
|
10,168 |
| Inventories |
|
5,163 |
| Prepaid expenses |
|
4,350 |
| Employee advances |
|
1,337 |
| Total Current Assets |
|
599,887 |
| Property and Equipment, net of accumulated depreciation of $218,916 and $230,784, respectively |
|
4,600 |
| Total Assets |
|
604,487 |
| Current Liabilities: |
|
|
| Notes payable, net of discount of $102,224 and $0, respectively |
|
521,064 |
| Notes payable, related party |
|
2,229,873 |
| Accounts payable |
|
811,684 |
| Deferred revenue |
|
456,205 |
| Payroll tax liabilities |
|
474,781 |
| Accrued expenses |
|
134,325 |
| Total Current Liabilities |
|
4,627,932 |
| Stockholders' Deficit |
|
|
| Convertible preferred stock, par value $1.00; authorized 10,000,000 shares, 276,000 shares of Series H authorized, 1,000 shares issued and outstanding |
|
1,000 |
| Common stock, par value $.01; authorized 50,000,000 shares, 15,920,088 shares issued and outstanding |
|
159,201 |
| Additional paid-in capital |
|
14,413,010 |
| Accumulated deficit |
|
(18,596,656) |
| Total Liabilities and Stockholders’ Deficit |
|
$ 604,487 |