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5. CONVERTIBLE NOTES PAYABLE (Tables)
 6 Months Ended
Sep. 30, 2014
Convertible notes payable

Convertible Notes Payable consisted of the following at September 30, 2014:

 

    Principal     Unamortized
Discount		     Net
Amount		     Accrued
Interest		  
Convertible Notes Payable – Current Portion:                                
October & November 2009 10% Convertible Notes   $ 50,000     $ –     $ 50,000     $ 28,598  
April 2010 10% Convertible Note     75,000       –       75,000       35,188  
July and August 2011 10% Convertible Notes, past due     283,421       –       283,421       96,728  
Law Firm Note     75,000       –       75,000       9,479  
Total – Convertible Notes Payable – Current Portion     483,422       –       483,422       169,993  
                                 
Convertible Notes Payable – Non-Current Portion:                                
Amended and Restated Series A 12% Convertible Notes     225,000       –       225,000       9,000  
September 2010 12% Convertible Notes     317,072       –       317,072       9,513  
April 2011 12% Convertible Notes     448,448       –       448,448       13,454  
Total – Convertible Notes Payable – Non-Current Portion     990,520       –       990,520       31,967  
Total Convertible Notes Payable   $ 1,473,941     $ –     $ 1,473,941     $ 201,960  

 

Convertible Notes Payable consisted of the following at March 31, 2014:

 

    Principal     Unamortized
Discount		     Net
Amount		     Accrued
Interest		  
Convertible Notes Payable – Current Portion:                                
Amended and Restated Series A 12% Convertible Notes, past due   $ 885,000     $ –     $ 885,000     $ 575,250  
2008 10% Convertible Notes, past due     25,000       –       25,000       19,167  
October & November 2009 10% Convertible Notes     50,000       –       50,000       26,097  
April 2010 10% Convertible Note     75,000       –       75,000       31,438  
July and August 2011 10% Convertible Notes, past due     257,655       –       257,655       90,256  
Law Firm Note     75,000       –       75,000       7,604  
Total – Convertible Notes Payable – Current Portion     1,367,655       –       1,367,655       749,812  
                                 
Convertible Notes Payable – Non-Current Portion:                                
September 2010 12% Convertible Notes     317,072       –       317,072       35,034  
April 2011 12% Convertible Notes     448,448       –       448,448       12,117  
September 2011 12% Convertible Notes     10,931       –       10,931       –  
Total – Convertible Notes Payable – Non-Current Portion     776,451       –       776,451       47,151  
Total Convertible Notes Payable   $ 2,144,106     $ –     $ 2,144,106     $ 796,963  

 
October and November 2009 10% Convertible Notes [Member]
  
Activity in Convertible Notes

The following table shows the conversions into principal of the October and November 2009 10% Convertible Notes by fiscal year:

 

Activity in October & November 2009 10% Convertible Notes
Initial principal balance   $ 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 )
Conversions during the fiscal year ended March 31, 2014     –  
Conversions during the six months ended September 30, 2014     –  
Balance as of September 30, 2014   $ 50,000  

 
September 2010 12% Convertible Notes [Member]
  
Activity in Convertible Notes

The following table shows the activity in the September 2010 10% Convertible Notes by fiscal year:

 

Activity in the 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 fiscal year ended March 31, 2014     (25,000 )
Increase in principal balance due to 12% extension fee     33,972  
Conversions during the six months ended September 30, 2014     –  
Balance as of September 30, 2014   $ 317,072  
September 2011 12% Convertible Notes [Member]
  
Activity in Convertible Notes

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

 

Activity in the 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 fiscal year ended March 31, 2014     (169,000 )
Increase in principal balance due to extension fee     1,171  
Conversions during the six months ended September 30, 2014     (10,931 )
Balance as of September 30, 2014   $ –