Derivative Instruments (Tables)

3 Months Ended

Jun. 30, 2012

Derivative Instrument Detail [Abstract]

Schedule of Derivative Instruments [Table Text Block]

Activity for derivative instruments liability during the three months ended June 30, 2012 was as follows:

					Decrease in
	March 31,		Activity During		Fair Value of		June 30,
	2012		Fiscal Year		Derivative Liability		2012
Derivative instruments	$	—	$	8,488	$	—	$	8,488
	$	—	$	8,488	$	—	$	8,488

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

The fair value of the derivative instruments is estimated using the Lattice model with the following assumptions as of June 28, 2012:

	June 30, 2012
Common stock issuable upon exercise of warrants and conversion of notes		406,974
Market value of common stock on measurement date	$	0.13-0.15
Projected	$	0.12-0.43
Offering price range (1)	$	0.12-0.35
Risk free interest rate (2)		0.31	%
Warrant and convertibles lives in years		1.00 – 5.00
Expected volatility (3)		41% - 49	%
Expected dividend yields (4)		None

(1)

Represents the estimated offering price range in future offerings as determined by management

(2)

The risk-free interest rate was determined by management using 1, 3 or 5 year Treasury Bill as of the respective measurement date.

(3)

The volatility factor was estimated by management using the historical volatilities of comparable companies in the industry.

(4)

Management determined the dividend yield to be 0% based upon its expectation that it will not pay dividends for the foreseeable future.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

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