XML 12 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727
Consolidated Balance Sheets - USD ($)
Sep. 30, 2014
Mar. 31, 2014
Assets    
Cash $ 65,081 $ 35,818
Accounts receivables, net of allowance for doubtful accounts of $50,000 2,775,516 2,426,976
Prepaid expenses and other assets 225,765 360,052
Total current assets 3,066,362 2,822,846
Property and equipment, net of accumulated depreciation 1,323,312 1,962,039
Total assets 4,389,674 4,784,885
Liabilities and Stockholders' Deficit    
Bank overdraft 132,465 266,042
Accounts payable 1,384,437 1,417,189
Accrued expenses and other liabilities 2,683,937 2,173,662
Other Liabilities 721,130 721,130
Line of credit 651,960 708,108
Notes payable - related parties 5,193,982 5,187,084
Current portion of notes payable 5,329,981 5,555,376
Total current liabilities 16,097,892 16,028,591
Derivative liability 11,632 8,874
Notes payable, net of current portion and debt discount 915,033 1,651,832
Total long-term liabilities 926,665 1,660,706
Total liabilities 17,024,557 17,689,297
Stockholders' deficit:    
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 43,865,606 and 31,574,883 shares issued and outstanding at March 31, 2012 and March 31, 2011, respectively 260,524 260,524
Additional paid-in capital 9,925,421 9,925,421
Accumulated deficit (22,820,828) (23,090,357)
Total Integrated Freight Corporation stockholders' deficit (12,634,883) (12,904,412)
Total liabilities and stockholders' deficit $ 4,389,674 $ 4,784,885