9. Shareholders' Deficit

12 Months Ended

Mar. 31, 2012

Equity [Abstract]

9. Shareholders' Deficit

The fair value for the warrants was estimated at the date of valuation using the Black-Scholes option-pricing model with the following assumptions:

Risk-free interest rate		1.27- 2.19	%
Dividend yield		0.00	%
Volatility factor		172	%
Expected life	3-5 years

The relative fair value of the warrants issued for the year ended March 31, 2012, calculated in accordance with ASC 470-20, Debt with Conversion and Other Options; totaled $12,402. The relative fair value of the warrants issued for the year ended March 31, 2011, totaled $219,480. The relative fair value of the warrants issued with the debenture has been charged to additional paid-in capital with a corresponding discount on the note payable. The discount is amortized over the life of the debt. As the discount is amortized, the reported outstanding principal balance of the notes will approach the remaining unpaid value.

A summary of the grant activity for the year ended March 31, 2012 and 2011 is presented below:

	Stock Awards			Average		Remaining
	Outstanding			Exercise		Contractual
	& Exercisable			Price		Term
Balance, April 1, 2010		8,053,717		$	0.14	1 years
Granted		5,655,650			0.47	5 years
Exercised		(333,333	)		0.4	5 years
Expired/Cancelled		(972,144	)		0.01		N/A
Balance, March 31, 2011		12,403,890		$	0.23	3 years
Granted		2,316,000			0.34	5 years
Exercised		(325,000	)		0.1	5 years
Expired/Cancelled		0			0		N/A
Balance, March 31, 2012		14,394,890		$	0.25	3 years

As of March 31, 2012 and 2011, the number of warrants that were currently vested and expected to become vested was 14,394,980 and 12,403,980, respectively.