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Subsequent Events
6 Months Ended
Sep. 30, 2011
Notes to Financial Statements 
Subsequent Events

 

In October 2011, the Company entered into a Securities Purchase Agreement in connection with the issuance of an 8% Convertible Note for $32,500.  The Note is due July 12, 2012 and has various prepayment, share conversion, share reservation, and penalty interest provisions.  The proceeds were used for general corporate purposes.

 

 

Management has evaluated events and transactions that occurred subsequent to September 30, 2011, through November 21, 2011, the date at which the consolidated financial statements were available to be issued.  Other than the disclosures shown, management did not identify any events or transactions that should be recognized or disclosed in the consolidated financial statements.

 

See Note 10 – Litigation – for Summary of recent legal activity.

 

In October 2011, The Company entered into a Securities Purchase Agreement in connection with the issuance of an 8% Note for $161,640. The Note is due May 1, 2012, and has various prepayment and penalty interest provisions. The proceeds were used for general corporate purposes. In connection with their agreement, The Company issued 453,030 common shares to the purchaser of the notes.