RESTATEMENT

6 Months Ended

Sep. 30, 2013

NOTE 12 – RESTATEMENT

The Company has recorded the intrinsic value of the convertible note payable in the 10K ending March 31, 2013. The Company is allocating the cost to the correct quarterly periods in the fiscal year ended March 31, 2013. The corrected balances and the previously stated balances for the six months ended September 30, 2012 are shown below.

The following are the previously stated and corrected balances for the six months ended September 30, 2012:


September 30, 2012 Financial Statement	Line Item	Corrected $	Previously Stated $
Income Statement	Amortization of debt discount	(400,518)	(257,881)
Income Statement	Total Other Income (Expenses)	(646,823)	(504,186)
Income Statement	Net Loss	(1,231,200)	(1,088,563)
Cash Flows	Net Loss	(1,231,200)	(1,088,563)
Cash Flows	Amortization of debt discount	400,518	257,881

- Definition

The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period.

+ References+ Details

POTASH AMERICA, INC. 10-Q