Quarterly report pursuant to Section 13 or 15(d)

NOTE 8. OTHER CURRENT LIABILITIES

v2.4.0.6
NOTE 8. OTHER CURRENT LIABILITIES
9 Months Ended
Dec. 31, 2011
Other Liabilities Disclosure [Text Block]

NOTE 8. OTHER CURRENT LIABILITIES


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


    December 31,     March 31,  
    2011     2011  
Accrued interest   $ 734,282     $ 525,336  
Accrued legal fees     240,242       236,902  
Deferred rent     5,324       5,784  
Other     42,588       36,364  
Total other current liabilities   $ 1,022,436     $ 804,386  

As of the date of this report, various promissory and convertible notes payable in the aggregate principal amount of $1,792,210 (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 December 31, 2011, we had accrued interest in the amount of $639,958 associated with these defaulted notes in accrued liabilities payable, which are included in the accrued interest numbers noted above (see Notes 4 and 5).