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Consolidated Balance Sheets - USD ($)	Jun. 30, 2014	Mar. 31, 2014
Assets
Cash	$ 41,305	$ 35,818
Accounts receivables, net of allowance for doubtful accounts of $50,000	2,848,547	2,426,976
Prepaid expenses and other assets	343,690	360,052
Total current assets	3,233,542	2,822,846
Property and equipment, net of accumulated depreciation	1,814,458	1,962,039
Total assets	5,048,000	4,784,885
Liabilities and Stockholders' Deficit
Bank overdraft	283,297	266,042
Accounts payable	1,472,559	1,417,189
Accrued expenses and other liabilities	2,510,758	2,173,662
Other Liabilities	721,130	721,130
Line of credit	649,950	708,108
Notes payable - related parties	5,170,466	5,187,084
Current portion of notes payable	5,538,245	5,555,376
Total current liabilities	16,346,405	16,028,591
Derivative liability	7,414	8,874
Notes payable, net of current portion and debt discount	1,330,393	1,651,832
Total long-term liabilities	1,337,807	1,660,706
Total liabilities	17,684,212	17,689,297
Stockholders' deficit:
Common stock, $0.001 par value, 2,000,000,000 shares authorized, 43,865,606 and 31,574,883 shares issued and outstanding at March 31, 2012 and March 31, 2011, respectively	260,524	260,524
Additional paid-in capital	9,925,421	9,925,421
Accumulated deficit	(22,822,157)	(23,090,357)
Total Integrated Freight Corporation stockholders' deficit	(12,636,212)	(12,904,412)
Total liabilities and stockholders' deficit	$ 5,048,000	$ 4,784,885

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

INTEGRATED FREIGHT Corp 10-Q/A