Quarterly report pursuant to Section 13 or 15(d)

NOTE 8. OTHER CURRENT LIABILITIES

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).