5. CONVERTIBLE NOTES PAYABLE (Tables)

9 Months Ended

Dec. 31, 2014

Convertible notes payable

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

	Principal		Unamortized Discount			Net Amount		Accrued Interest
Convertible Notes Payable – Non-Current Portion:
November 2014 10% Convertible Notes		527,780		(465,687	)		62,093		2,680
April 2011 12% Convertible Notes		202,159		–			202,159		8,064
Total – Convertible Notes Payable – Non-Current Portion		729,939		(465,687	)		264,252		10,744
Total Convertible Notes Payable	$	729,939	$	(465,687	)	$	264,252	$	10,744

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

April 2011 12% Convertible Notes

Activity in Convertible Notes

Activity in the April 2011 12% Convertible Notes
Initial principal balance	$	400,400
Increase in principal balance due to extension fee		48,048
Conversions during the nine months ended December 31, 2014		(246,289	)
Balance as of December 31, 2014	$	202,159

October and November 2009 10% Convertible Notes [Member]

Activity in Convertible Notes

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 into equity unit structure during the nine months ended December 31, 2014		(50,000	)
Balance as of December 31, 2014	$	–

September 2010 12% Convertible Notes [Member]

Activity in Convertible Notes

Activity in the September 2010 12% 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 nine months ended December 31, 2014		(317,072	)
Balance as of December 31, 2014	$	–

September 2011 12% Convertible Notes [Member]

Activity in Convertible Notes

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 nine months ended December 31, 2014		(10,931	)
Balance as of December 31, 2014	$	–