Quarterly report pursuant to Section 13 or 15(d)

NOTE 8. OTHER CURRENT LIABILITIES

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NOTE 8. OTHER CURRENT LIABILITIES
6 Months Ended
Sep. 30, 2011
Other Liabilities Disclosure [Text Block]
NOTE 8. OTHER CURRENT LIABILITIES

At September 30, 2011 and March 31, 2011, our other current liabilities were comprised of the following items:

   
September 30,
2011
   
March 31,
2011
 
Accrued interest
 
$
642,501
   
$
525,336
 
Accrued legal fees
   
240,242
     
236,902
 
Deferred rent
   
5,415
     
5,784
 
Other
   
36,363
     
36,364
 
Total other current liabilities
 
$
924,521
   
$
804,386
 

As of the date of this report, various promissory and convertible notes payable in the aggregate principal amount of $1,842,600 (as identified in Notes 4 and 5 above) have reached maturity and are past due. We are continually reviewing other financing arrangements to retire all past due notes. At September 30, 2011, we had accrued interest in the amount of $573,874 associated with these defaulted notes in accrued liabilities payable (see Notes 4 and 5).