Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Sep. 30, 2014
Mar. 31, 2014
ASSETS    
Cash $ 28,571 $ 205,571
VAT receivable 6,066 2,005
Prepaid expenses 687 687
Total Current Assets 35,324 208,263
Intangible assets (Note 3) 13,372,378 14,103,905
Total Assets 13,407,702 14,312,168
Current Liabilities    
Accounts payable and accrued liabilities (Note 7) 586,926 449,850
Loan payable (Note 4) 705,527 $ 725,319
Convertible debentures (Note 5) 300,000  
Current portion of note payable, net of unamortized discount of $110,006 and $33,438, respectively (Note 6) 2,889,994 $ 1,966,562
Due to related parties (Note 7) 5,357,858 5,300,950
Total Current Liabilities 9,840,305 8,442,681
Note payable, net of unamortized discount of $606,587 and $898,431, respectively (Note 6) 1,393,413 2,101,569
Total Liabilities $ 11,233,718 $ 10,544,250
Nature of Operations and Continuance of Business (Note 1)    
Commitments (Note 10)    
Stockholders' Equity    
Preferred stock, 10,000,000 shares authorized, $0.001 par value Nil shares issued and outstanding    
Common stock, 500,000,000 shares authorized, $0.001 par value 16,321,681 and 16,321,681 shares issued and outstanding, respectively $ 16,322 $ 16,322
Common stock issuable (Note 3) 8,868,523 8,868,523
Additional paid-in capital 45,073,380 44,623,380
Accumulated other comprehensive loss (66,654) (109,140)
Deficit (51,717,587) (49,631,167)
Total Stockholders' Equity 2,173,984 3,767,918
Total Liabilities and Stockholders' Equity $ 13,407,702 $ 14,312,168