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Income Taxes (Tables)
9 Months Ended
Dec. 31, 2016
Income Taxes [Abstract]  
Schedule of Income Tax Benefit

 

 

 

 

 

 

 

 

 

    

Nine months ended 

 

Year ended

 

 

December 31,

 

March 31,

 

 

2016

 

2016

Computed "expected" tax benefit

    

$

(4,425,953)

    

$

(2,359,039)

Increase (decrease) in taxes resulting from:

 

 

 

 

 

 

Increase (decrease) in valuation allowance for net deferred tax assets

 

 

6,120,293

 

 

2,495,540

Other, net

 

 

(1,694,340)

 

 

(136,501)

Income tax expense

 

$

 —

 

$

 —

 

Schedule of Deferred Tax Assets and Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

March 31,

 

    

2016

    

2016

Deferred tax assets:

    

 

 

    

 

 

Research and development credit carry-forwards

 

$

4,073

 

$

4,073

Net operating loss carry-forwards

 

 

32,864,500

 

 

29,451,289

Deferred compensation

 

 

111,006

 

 

50,021

Property and equipment

 

 

122,814

 

 

133,085

Stock Compensation

 

 

985,219

 

 

981,829

Other

 

 

3,157,324

 

 

505,883

Total deferred tax assets

 

 

37,244,936

 

 

31,126,180

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

Intangible assets

 

 

53,128

 

 

54,666

Total deferred tax liabilities

 

 

53,128

 

 

54,666

 

 

 

 

 

 

 

Net deferred tax assets

 

 

37,191,808

 

 

31,071,514

 

 

 

 

 

 

 

Less valuation allowance

 

 

(37,191,808)

 

 

(31,071,514)

 

 

 

 

 

 

 

Deferred tax assets, net of valuation allowance

 

$

 —

 

$

 —