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Related Party Transactions
9 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions
Note 3. Related Party Transactions
 
Related Party Notes Payable
 
As of December 31, 2013 and March 31, 2013, the Company had aggregate principal balances of $579,500 and $651,500, respectively, in outstanding unsecured indebtedness owed to four related parties, including former members of the Company’s board of directors, representing working capital advances made to the Company from February 2001 through March 2005. These notes bear interest at the rate of 6% per annum and provide for aggregate monthly principal payments which began April 1, 2006 of $2,500, and which increased by an aggregate of $2,500 every nine months to a maximum of $10,000 per month. As of December 31, 2013, the aggregate principal payments totaled $8,000 per month. Any remaining unpaid principal and accrued interest is due at maturity on various dates through March 1, 2015.
 
Related-party interest expense under these notes was $8,934 and $27,882 and $10,364 and $32,202 for the three and nine months ended December 31, 2013 and 2012, respectively. Accrued interest, which is included in related party notes payable in the accompanying condensed consolidated balance sheets, amounted to $794,046 and $766,164 as of December 31, 2013 and March 31, 2013, respectively.
 
ConvertibleBridgeNotes
 
During the nine months ended December 31, 2013, the Company issued to certain accredited investors various unsecured promissory notes with the terms as described under Note 4. These unsecured promissory notes included $70,000 of the 5% Bridge Notes (as defined below) issued to Jerrell Shelton, the Company’s Chief Executive Officer, $100,000 of the Bridge Notes issued to Richard Rathmann, a member of the Board of Directors of the Company, and $200,000 of the Bridge Notes issued to GBR Investments, LLC , of which Richard Rathmann, is the manager.