INCOME TAXES (Tables)

9 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of income tax benefit

The benefit for income taxes from continuing operations consists of the following for the nine months ended December 31, 2014 and fiscal year ended March 31, 2014:

	December 31,2014			March 31, 2014
Current	$	—		$	—
Deferred		(2,367,000	)		(859,000	)
Total		(2,367,000	)		(859,000	)
Change in Valuation Allowance		2,367,000			859,000
Tax Benefit, net	$	—		$	—

Schedule of significant components of deferred tax assets

At December 31, 2014 and March 31, 2014 the significant components of the deferred tax assets from continuing operations are summarized below:

	December31, 2014			March 31, 2014
Net Operating Loss Carry forwards	$	46,604,000		$	44,198,000
Other Temporary Differences		1,268,000			698,000
Gross Deferred Tax Assets		47,872,000			44,896,000
Less Valuation Allowance		(47,872,000	)		(44,896,000	)
Net Deferred Tax Assets	$	—		$	—

Schedule of income tax reconciliation

The following table reconciles our losses from continuing operations before income taxes for the nine months ended December 31, 2014 and fiscal year ended March 31, 2014.

	December31, 2014					March31, 2014
Federal Statutory Rate	$	(3,167,000	)	34.00	%	$	(2,773,000	)	34.00	%
State Income Tax, net of Federal Tax		(323,000	)	3.63	%		(264,000	)	3.63	%
Permanent Differences		411,000		(4.42	%)		880,000		(10.78	%)
Change in Valuation Allowance		3,079,000		(33.21	%)		2,157,000		(26.85	%)
Expected Tax Benefit	$	—		—		$	—		—