DERIVATIVE LIABILITY AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 31, 2014

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of fair value reconciliation

The table below provides a reconciliation of beginning and ending balances for the liabilities measured at fair value using significant unobservable inputs (Level 3):

	Down-round Protection Derivative			Convertible Feature Liability			Warrants			Warrant Down-round Protection Derivative			Total
Balance, April 1, 2013	$	(50,545	)	$	(162,456	)	$	—		$	—		$	(213,001	)
Settlement Through Modification of Gemini Note II		10,000			100,819			—			—			110,819
Fair Value at Issuance of New Debt		(641,113	)		(2,923,370	)		(1,781,592	)		(616,688	)		(5,962,763	)
Net Change in Fair Value		681,658			2,985,007			762,053			238,186			4,666,904
Balance, March 31, 2014		—			—			(1,019,539	)		(378,502	)		(1,398,041	)
Release of Warrants Liability upon Exercise		—			—			262,846			57,019			319,865
Net Change in Fair Value		—			—			(1,053,256	)		64,953			(988,303	)
Balance, December 31, 2014	$	—		$	—		$	(1,809,949	)	$	(256,530	)	$	(2,066,479	)

Schedule of valuation techniques

The following table describes the valuation techniques used to calculate fair values for assets in Level 3. There were no changes in the valuation techniques during the transition period ended December 31, 2014 and fiscal year ended March 31, 2014.

	Fair Value at December31, 2014		Fair Value at March31, 2014		Valuation Technique	Unobservable Input	Range
Warrants and Warrant    Down-round Protection    Derivative (combined)	$	2,066,479	$	1,398,041	Binomial Option    Pricing Model	Probability of    common stock    issuance at prices    less than exercise    prices stated    in agreements		30	%
						Probability of reset    provision being    waived		5	%