5. CONVERTIBLE NOTES PAYABLE (Tables)

9 Months Ended

Dec. 31, 2013

Convertible Notes Payable [Abstract]

Convertible notes payable

Convertible notes payable consist of the following at December 31, 2013:

	Principal		Unamortized Discount		Net Amount		Accrued Interest
Amended and Restated Series A 12% Convertible Notes, past due	$	885,000	$	–	$	885,000	$	531,000
December 2006 10% Convertible Notes, past due		17,000		–		17,000		17,800
2008 10% Convertible Notes, past due		25,000		–		25,000		18,229
October & November 2009 10% Convertible Notes		50,000		–		50,000		24,847
April 2010 10% Convertible Note		75,000		–		75,000		29,563
September 2010 10% Convertible Notes, past due		283,100		–		283,100		14,195
April 2011 10% Convertible Notes, past due		400,400		–		400,400		46,102
July and August 2011 10% Convertible Notes, $257,656 past due		377,683		–		377,683		86,079
September 2011 Convertible Notes, past due		9,760		–		9,760		–
Law Firm Note Number 1		75,000		–		75,000		6,667
Law Firm Note Number 2		47,000		–		47,000		1,345
Total – Convertible Notes	$	2,244,943	$	–	$	2,244,943	$	775,827

Convertible notes payable consisted of the following at March 31, 2013:

	Principal		Unamortized Discount			Net Amount		Accrued Interest
Amended and Restated Series A 12% Convertible Notes, past due	$	885,000	$	–		$	885,000	$	398,250
2008 10% Convertible Notes, past due		25,000		–			25,000		15,417
December 2006 10% Convertible Notes, past due		17,000		–			17,000		15,888
October & November 2009 10% Convertible Notes		50,000		(389	)		49,611		20,000
April 2010 10% Convertible Note		75,000		(3,895	)		71,105		23,938
September 2010 10% Convertible Notes, past due		308,100		–			308,100		52,393
April 2011 10% Convertible Notes, past due		400,400		–			400,400		100,100
July and August 2011 10% Convertible Notes, $257,656 past due		357,655		–			357,655		68,704
September 2011 Convertible Notes, past due		178,760		–			178,760		–
Law Firm Note		75,000		–			75,000		3,854
Total – Convertible Notes	$	2,371,915	$	(4,284	)	$	2,367,631	$	698,544

Activity in Convertible Notes

The following table shows the conversions into principal of the October and November 2009 Convertible Notes Note by fiscal year:

Activity in October and November 2009 Convertible Notes
Initial principal balance, including $250,000 of deferred financing costs	$	450,250
Conversions during the fiscal year ended March 31, 2010		(70,000	)
Conversions during the fiscal year ended March 31, 2011		(175,000	)
Conversions during the fiscal year ended March 31, 2012		(130,250	)
Conversions during the fiscal year ended March 31, 2013		(25,000	)
Balance as of December 31, 2013	$	50,000

The following table shows the conversions into principal of the September 2010 10% Convertible Notes by fiscal year:

Activity in September 2010 10% Convertible Notes
Initial principal balance	$	743,600
Conversions during the fiscal year ended March 31, 2012		(405,500	)
Conversions during the fiscal year ended March 31, 2013		(30,000	)
Conversions during the nine months ended December 31, 2013		(25,000	)
Balance as of December 31, 2013	$	283,100

The following table shows the conversions into principal of the September 2011 Convertible Notes by fiscal year:

Activity in September 2011 Convertible Notes
Initial principal balance	$	253,760
Conversions during the fiscal year ended March 31, 2012		(15,000	)
Conversions during the fiscal year ended March 31, 2013		(60,000	)
Conversions during the nine months ended December 31, 2013		(169,000	)
Balance as of December 31, 2013	$	9,760