UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December
31, 2015
Commission File Number 0-20734
e.Digital Corporation
(Exact name of registrant as specified in
its charter)
Delaware |
|
33-0591385 |
(State or other jurisdiction of |
|
(I.R.S. Empl. Ident. No.) |
incorporation or organization) |
|
|
|
|
|
16870 West Bernardo Drive, Suite 120, San Diego, California |
|
92127 |
(Address of principal executive offices) |
|
(Zip Code) |
(858) 304-3016
(Registrant’s telephone number, including
area code)
Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements
for the past 90 days. YES [X] NO [_]
Indicate by check mark whether the registrant has submitted
electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant
to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the
registrant was required to submit and post such files). [X] Yes [_] No
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated
filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
|
Large Accelerated Filer [_] |
|
Accelerated filer [_] |
|
Non-accelerated filer [_] (Do not check if a smaller reporting company) |
|
Smaller reporting company [X] |
Indicate by check mark whether the registrant is a shell company
(as defined in Rule 12b-2 of the Act). Yes [_] No [X]
As of February 5, 2016 a total of 293,678,330 shares of the
Registrant’s Common Stock, par value $0.001, were issued and outstanding.
e.DIGITAL CORPORATION
INDEX
|
|
Page |
PART I. FINANCIAL INFORMATION |
|
|
|
|
|
Item 1. Financial Statements (unaudited): |
|
|
|
|
|
Condensed Consolidated Balance Sheets as of December 31, 2015 and March 31, 2015 |
|
3 |
|
|
|
Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2015 and 2014 |
|
4 |
|
|
|
Condensed Consolidated Statements of Cash Flows for the nine months ended December 31, 2015 and 2014 |
|
5 |
|
|
|
Notes to Interim Condensed Consolidated Financial Statements |
|
6 |
|
|
|
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
|
14 |
|
|
|
Item 4. Controls and Procedures |
|
21 |
PART II. OTHER INFORMATION
Item 1. |
Legal Proceedings |
|
22 |
Item 2. |
Unregistered Sales of Equity Securities and Use of Proceeds |
|
22 |
Item 3. |
Defaults Upon Senior Securities |
|
22 |
Item 4. |
Mine Safety Disclosures |
|
22 |
Item 5. |
Other Information |
|
22 |
Item 6. |
Exhibits |
|
22 |
|
|
|
|
SIGNATURES |
|
23 |
Part I. Financial Information
Item 1. Financial Statements:
e.Digital Corporation and subsidiary
CONDENSED CONSOLIDATED BALANCE SHEETS
| |
(Unaudited) | | |
(Audited) | |
| |
December 31, | | |
March 31, | |
| |
2015 | | |
2015 | |
| |
$ | | |
$ | |
ASSETS | |
| | | |
| | |
Current | |
| | | |
| | |
Cash and cash equivalents | |
| 1,083,156 | | |
| 1,952,981 | |
Accounts receivable | |
| 462 | | |
| 11,218 | |
Inventory - net | |
| – | | |
| – | |
Deposits and prepaid expenses | |
| 41,029 | | |
| 42,538 | |
Total current assets | |
| 1,124,647 | | |
| 2,006,737 | |
Property, equipment and intangibles, net of accumulated depreciation and amortization of
$162,835 and $166,529, respectively |
|
|
29,322 |
|
|
|
7,215 |
|
Total assets | |
| 1,153,969 | | |
| 2,013,952 | |
LIABILITIES AND STOCKHOLDERS' EQUITY | |
| | | |
| | |
Current | |
| | | |
| | |
Accounts payable, trade | |
| 101,904 | | |
| 140,293 | |
Accrued and other liabilities | |
| 99,130 | | |
| 156,759 | |
Total current liabilities | |
| 201,034 | | |
| 297,052 | |
| |
| | | |
| | |
Commitments and Contingencies | |
| | | |
| | |
| |
| | | |
| | |
Stockholders' equity | |
| | | |
| | |
Preferred stock, $0.001 par value; 5,000,000 shares authorized none issued and outstanding |
|
|
– |
|
|
|
– |
|
Common stock, $0.001 par value; authorized 350,000,000, 293,678,330 and 293,378,330 issued and
outstanding, respectively |
|
|
293,678 |
|
|
|
293,378 |
|
Additional paid-in capital | |
| 83,005,309 | | |
| 82,931,048 | |
Accumulated deficit | |
| (82,346,052 | ) | |
| (81,507,526 | ) |
Total stockholders' equity | |
| 952,935 | | |
| 1,716,900 | |
| |
| | | |
| | |
Total liabilities and stockholders' equity | |
| 1,153,969 | | |
| 2,013,952 | |
See notes to interim condensed consolidated financial statements
e.Digital Corporation and subsidiary
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
Revenues: | |
$ | | |
$ | | |
$ | | |
$ | |
Products and services | |
| – | | |
| 42,995 | | |
| 16,031 | | |
| 147,711 | |
Patent licensing | |
| – | | |
| 1,078,500 | | |
| 693,500 | | |
| 2,051,034 | |
| |
| – | | |
| 1,121,495 | | |
| 709,531 | | |
| 2,198,745 | |
| |
| | | |
| | | |
| | | |
| | |
Operating costs and expenses: | |
| | | |
| | | |
| | | |
| | |
Cost of revenues: | |
| | | |
| | | |
| | | |
| | |
Products and services | |
| – | | |
| 79,322 | | |
| 8,256 | | |
| 238,729 | |
Patent licensing and litigation costs | |
| 112,500 | | |
| 117,185 | | |
| 337,500 | | |
| 342,774 | |
Contingent legal fees and expenses | |
| 5,261 | | |
| 338,630 | | |
| 292,156 | | |
| 642,006 | |
Selling and administrative | |
| 176,366 | | |
| 185,481 | | |
| 657,549 | | |
| 548,968 | |
Research and related expenditures | |
| 70,542 | | |
| 93,786 | | |
| 253,396 | | |
| 261,594 | |
Total operating costs and expenses | |
| 364,669 | | |
| 814,404 | | |
| 1,548,857 | | |
| 2,034,071 | |
| |
| | | |
| | | |
| | | |
| | |
Operating income (loss) before other income and provision for income taxes | |
| (364,669 | ) | |
| 307,091 | | |
| (839,326 | ) | |
| 164,674 | |
| |
| | | |
| | | |
| | | |
| | |
Other income: | |
| | | |
| | | |
| | | |
| | |
Other income | |
| 800 | | |
| – | | |
| 800 | | |
| – | |
Other income | |
| 800 | | |
| – | | |
| 800 | | |
| – | |
| |
| | | |
| | | |
| | | |
| | |
Income (loss) before provision for income taxes | |
| (363,869 | ) | |
| 307,091 | | |
| (838,526 | ) | |
| 164,674 | |
Income tax expense | |
| – | | |
| (31,350 | ) | |
| – | | |
| (31,350 | ) |
Income (loss) for the period | |
| (363,869 | ) | |
| 275,741 | | |
| (838,526 | ) | |
| 133,324 | |
Income (loss) per common share - basic | |
| (0.00 | ) | |
| 0.00 | | |
| (0.00 | ) | |
| 0.00 | |
Income (loss) per common share - diluted | |
| (0.00 | ) | |
| 0.00 | | |
| (0.00 | ) | |
| 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average common shares outstanding | |
| | | |
| | | |
| | | |
| | |
Basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Diluted | |
| 293,678,330 | | |
| 294,164,274 | | |
| 293,564,512 | | |
| 294,135,318 | |
See notes to interim condensed consolidated financial statements
e.Digital Corporation and subsidiary
CONDENSED CONSOLIDATED (UNAUDITED) STATEMENTS OF CASH FLOWS
| |
For the nine months ended | |
| |
December 31, | |
| |
2015 | | |
2014 | |
OPERATING ACTIVITIES | |
$ | | |
$ | |
Income (loss) for period | |
| (838,526 | ) | |
| 133,324 | |
Adjustments to reconcile income (loss) to net cash provided by (used in) operating activities: | |
| | | |
| | |
Depreciation and amortization | |
| 3,050 | | |
| 3,876 | |
Inventory market and reserve adjustment | |
| – | | |
| 50,278 | |
Stock-based compensation | |
| 67,961 | | |
| 37,587 | |
Changes in assets and liabilities: | |
| | | |
| | |
Accounts receivable | |
| 10,756 | | |
| 163,072 | |
Inventory | |
| – | | |
| 3,641 | |
Deposits and prepaid expenses | |
| 1,509 | | |
| 20,623 | |
Accounts payable, trade | |
| (38,389 | ) | |
| 139,845 | |
Accrued and other liabilities | |
| (57,629 | ) | |
| (95,964 | ) |
Cash provided by (used in) operating activities | |
| (851,268 | ) | |
| 456,282 | |
| |
| | | |
| | |
INVESTING ACTIVITIES | |
| | | |
| | |
Purchase of equipment and intangibles | |
| (25,157 | ) | |
| – | |
Cash used in investing activities | |
| (25,157 | ) | |
| – | |
| |
| | | |
| | |
FINANCING ACTIVITIES | |
| | | |
| | |
Proceeds from exercise of stock options | |
| 6,600 | | |
| – | |
Cash provided by financing activities | |
| 6,600 | | |
| – | |
Net increase (decrease) in cash and cash equivalents | |
| (869,825 | ) | |
| 456,282 | |
Cash and cash equivalents, beginning of period | |
| 1,952,981 | | |
| 1,787,863 | |
Cash and cash equivalents, end of period | |
| 1,083,156 | | |
| 2,244,145 | |
See notes to interim condensed consolidated financial statements
1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION
e.Digital Corporation is a holding company incorporated under
the laws of Delaware that operates through a wholly-owned California subsidiary of the same name. The Company is developing and
marketing an intellectual property portfolio consisting of context and interpersonal awareness systems (“Nunchi®”
technology), advanced data security technologies (“microSignet™” technology), secure communication technologies
(“Synap™” technology) and other technologies.
Unaudited Interim Financial Statements
These unaudited condensed consolidated financial statements
have been prepared by management in accordance with accounting principles generally accepted in the United States and with the
instructions to Form 10-Q and Article 10 of Regulation S-X. These interim condensed consolidated financial statements do not include
all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial
statements. In the opinion of management, the unaudited consolidated financial statements reflect all adjustments considered necessary
for a fair statement of the Company's financial position at December 31, 2015, and the results of its operations and cash flows
for the periods presented, consisting only of normal and recurring adjustments. All significant intercompany transactions have
been eliminated in consolidation. Operating results for the three and nine months ended December 31, 2015 are not necessarily indicative
of the results that may be expected for the fiscal year ending March 31, 2016. For further information, refer to the Company's
consolidated financial statements and footnotes thereto for the year ended March 31, 2015 filed on Form 10-K.
Liquidity / Going Concern
The Company has incurred significant historical losses and negative
cash flow from operations and has an accumulated deficit of $82,346,052 at December 31, 2015. Other than cash on hand, the Company
has no other sources of financing currently available as of December 31, 2015. The Company may incur additional losses in the future
until licensing or other revenues are sufficient to sustain continued profitability. Until the Company can demonstrate sustained
profitability, its ability to continue as a going concern is in doubt and may be dependent upon obtaining additional financing
in the future. There is no assurance that the Company will be successful in generating or raising funds, if necessary, to sustain
its operations for twelve months or beyond. Should the Company be unable to generate funds or obtain required financing, it may
have to curtail operations, which may have a material adverse effect on its financial position and results of operations. Uncertainty
as to the outcome of these factors raises substantial doubt about the Company’s ability to continue as a going concern. These
consolidated financial statements do not give effect to any adjustments that would be necessary should the Company be unable to
continue as a going concern and therefore be required to realize its assets and discharge its liabilities in other than the normal
course of business and at amounts different from those reflected in the accompanying consolidated financial statements.
Estimates
The preparation of financial statements in conformity with accounting
principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements,
and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
2. RECENT ACCOUNTING PRONOUNCEMENTS
In April 2014, the FASB issued ASU No. 2014-08, Reporting
Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes the criteria for determining
which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new
guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or
is classified as held for sale and “represents a strategic shift that has (or will have) a major effect on an entity’s
operations and financial results.” The new standard applies prospectively to new disposals and new classifications
of disposal groups as held for sale after the effective date. The amendment is effective for annual reporting periods beginning
after December 15, 2014 and interim periods within those annual periods. The Company adopted this guidance effective April
1, 2015 and expects, as a result, that the discontinuation of eVU entertainment services is not a major strategic shift and does
not have a significant impact on the Company's consolidated financial statements.
In May 2014, the Financial Accounting Standards Board (“FASB”)
issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, which requires entities
to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the
consideration to which the entity expects to be entitled to in exchange for those goods or services. The new guidance also requires
additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts,
including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract.
The amendment is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those annual
periods. In response to stakeholders’ requests to defer the effective date, the Board issued ASU 2015-14, Revenue from
Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments in this Update defer the effective date
of Update 2014-09 for all entities by one year. Public entities should apply guidance in Update 2014-09 to annual reporting periods
beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted
only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting
period. The Company is currently evaluating the new standard.
In June 2014, the FASB issued ASU No. 2014-12, Compensation
– Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide that a Performance Target Could
be Achieved after the Requisite Service Period. The guidance requires that a performance target that affects vesting, and that
could be achieved after the requisite service period, be treated as a performance condition. The guidance will be effective for
annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted.
The Company is currently evaluating the impact of this guidance, if any, on its consolidated financial statements.
In August 2014, the FASB issued ASU 2014-15, Presentation
of Financial Statements Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's Ability to Continue as
a Going Concern. This ASU requires management to assess an entity's ability to continue as a going concern by incorporating
and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the ASU (1) provides a definition
of the term substantial doubt, (2) requires an evaluation every reporting period including interim periods, (3) provides principles
for considering the mitigating effect of management's plans, (4) requires certain disclosures when substantial doubt is alleviated
as a result of consideration of management's plans, (5) requires an express statement and other disclosures when substantial doubt
is not alleviated, and (6) requires an assessment for a period of one year after the date that the financial statements are issued
(or available to be issued). This standard is effective for the fiscal years ending after December 15, 2016, and for annual periods
and interim periods thereafter. Early application is permitted. Since this guidance primarily addresses
certain disclosures to the financial statements, we anticipate no impact on our financial position, results of operations or cash
flows from adopting this standard. The Company is currently evaluating the new guidance to determine the impact it will
have on its consolidated financial statement disclosures.
In January 2015, the FASB issued ASU 2015-01, “Extraordinary
and Unusual Items,” eliminating the concept of extraordinary items for presentation on the face of the income statement.
Under the new standard, a material event or transaction that is unusual in nature, infrequent or both shall be reported as a separate
component of income from continuing operations. Alternatively, it may be disclosed in the notes to financial statements. The new
accounting guidance is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted
if applied from the beginning of a fiscal year. As applicable, this standard may change the presentation of amounts in the income
statements. The Company plans to adopt ASU 2015-01 effective April 1, 2016.
In July 2015, the FASB issued ASU 2015-11, “Simplifying
the Measurement of Inventory.” Under this ASU, inventory will be measured at the “lower of cost and net realizable
value” and options that currently exist for “market value” will be eliminated. The ASU defines net realizable
value as the “estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion,
disposal, and transportation.” No other changes were made to the current guidance on inventory measurement. ASU 2015-11 is
effective for interim and annual periods beginning after December 15, 2016. Early application is permitted and should be applied
prospectively. The Company is currently evaluating this guidance, including the period to adopt and the impact, if any, on its
consolidated financial statements.
Other Accounting Standards Updates not effective until after
December 31, 2015 are not expected to have a material effect on the Company’s financial position or results of operations.
3. INCOME (LOSS) PER SHARE
Basic income (loss) per common share is computed by dividing
net income (loss) for the period by the weighted-average number of shares of common stock outstanding during the period. Diluted
income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of shares of common stock
outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding
if the potentially dilutive securities had been issued. Potentially dilutive securities included outstanding stock options. The
dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury
stock method. Under the treasury stock method, an increase in the fair market value of the Company’s
common stock can result in a greater dilutive effect from potentially dilutive securities.
The following table sets forth the computation of basic and
diluted earnings per share:
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
| |
| | | |
| | | |
| | | |
| | |
Net income (loss) | |
$ | (363,869 | ) | |
$ | 275,741 | | |
$ | (838,526 | ) | |
$ | 133,324 | |
Weighted average common shares - basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Basic income (loss) per common share | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Diluted | |
| | | |
| | | |
| | | |
| | |
Net income (loss) | |
$ | (363,869 | ) | |
$ | 275,741 | | |
$ | (838,526 | ) | |
$ | 133,324 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average common shares - basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Effect of dilutive common shares | |
| – | | |
| 835,944 | | |
| – | | |
| 806,988 | |
Weighted average common shares - diluted | |
| 293,678,330 | | |
| 294,164,274 | | |
| 293,564,512 | | |
| 294,135,318 | |
Net income (loss) per common share - basic | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
Net income (loss) per common share - diluted | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Potentially dilutive securities outstanding at period end excluded from diluted computation as they were antidilutive | |
| 4,500,000 | | |
| – | | |
| 4,500,000 | | |
| – | |
4. LIQUIDITY
The Company has not identified any trends or any known demands,
commitments, events or uncertainties that will result in or that are reasonably likely to result in a material increase or decrease
in liquidity. During the third quarter of fiscal 2015, the Company ceased marketing eVU products and accessories, but continued
providing service to one customer through September 30, 2015. The termination of eVU operations and the loss of eVU revenues did
not have a material impact on liquidity, results of operations or financial condition of the Company.
5. INVENTORIES
Inventory is recorded at the lower of cost or net realizable
value. The cost of substantially all the Company’s inventory is determined by the weighted average cost method. The
Company reserves for inventory that is obsolete or determined to be slow-moving and classifies the slow moving portion of inventory
as a long-term asset. The Company has ceased offering new eVU systems and accordingly has fully reserved inventory at December
31, 2015.
Inventories consisted of the following:
| |
December 31, | | |
March 31, | |
| |
2015 | | |
2015 | |
| |
$ | | |
$ | |
Raw materials | |
| 18,794 | | |
| 37,559 | |
Work in process | |
| – | | |
| 12,842 | |
Finished goods | |
| 26,401 | | |
| 29,512 | |
| |
| 45,195 | | |
| 79,913 | |
Reserve for obsolescence | |
| (45,195 | ) | |
| (79,913 | ) |
| |
| – | | |
| – | |
The foregoing is net of an aggregate lower-of-cost-or-market
inventory adjustment of $64,409 at December 31, 2015 and $81,609 at March 31, 2015. The Company has ceased offering new eVU systems
and accordingly has fully reserved inventory at December 31, 2015.
6. STOCK-BASED COMPENSATION COSTS
The Company
accounts for stock-based compensation under the provisions of ASC 718, Share-Based Payment and ASC 505-50, Equity-Based
Payments to Non-Employees. ASC 718 requires measurement of all employee stock-based awards using a fair-value method
and recording of related compensation expense in the consolidated financial statements over the requisite service period. Further,
as required under ASC 718, the Company estimates forfeitures for stock-based awards that are not expected to vest. The
Company recorded stock-based compensation in its consolidated statements of operations for the relevant periods as follows:
| |
Three Months Ended | | |
Nine Months Ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
Research and development | |
| 2,782 | | |
| 2,547 | | |
| 13,270 | | |
| 7,641 | |
Selling and administrative | |
| 4,358 | | |
| 9,982 | | |
| 54,691 | | |
| 29,946 | |
Total stock-based compensation expense | |
| 7,140 | | |
| 12,529 | | |
| 67,961 | | |
| 37,587 | |
As of December 31, 2015 total estimated compensation cost of
stock options granted but not yet vested was $39,598 and is expected to be recognized over the weighted average period of approximately
nine months.
No stock options were granted during the three or nine-month
periods ended December 31, 2015 and 2014.
See Note 7 for further information on outstanding stock options.
7. STOCKHOLDERS’ EQUITY
The following table summarizes stockholders’ equity transactions
during the nine-month period ended December 31, 2015:
| |
Common stock | | |
Additional paid-in | | |
Accumulated | | |
total stockholders’ | |
| |
Shares | | |
Amount | | |
capital | | |
deficit | | |
equity | |
| |
| | |
$ | | |
$ | | |
$ | | |
$ | |
Balance, April 1, 2015 | |
| 293,378,330 | | |
| 293,378 | | |
| 82,931,048 | | |
| (81,507,526 | ) | |
| 1,716,900 | |
Stock-based compensation | |
| – | | |
| – | | |
| 67,961 | | |
| – | | |
| 67,961 | |
Shares issued on exercise of stock options | |
| 300,000 | | |
| 300 | | |
| 6,300 | | |
| – | | |
| 6,600 | |
Net income for the period | |
| – | | |
| – | | |
| – | | |
| (838,526 | ) | |
| (838,526 | ) |
Balance, December 31, 2015 | |
| 293,678,330 | | |
| 293,678 | | |
| 83,005,309 | | |
| (82,346,052 | ) | |
| 952,935 | |
Options
The following table summarizes stock option
activity for the period:
| | |
| | |
Weighted average | | |
Aggregate | |
| | |
Shares | | |
exercise price | | |
Intrinsic Value | |
| | | |
# | | |
$ | | |
$ | |
| Outstanding April 1, 2015 | | |
| 5,948,578 | | |
| 0.0670 | | |
| | |
| Granted | | |
| – | | |
| – | | |
| | |
| Exercised | | |
| (300,000 | ) | |
| 0.0220 | | |
| | |
| Canceled/expired | | |
| (1,148,578 | ) | |
| 0.027 | | |
| | |
| Outstanding December 31, 2015 | | |
| 4,500,000 | | |
| 0.0799 | | |
$ | – | |
| Exercisable at December 31, 2015 | | |
| 3,480,000 | | |
| 0.0711 | | |
$ | – | |
| (1) | Options outstanding are exercisable at prices ranging from $0.055 to $0.11 and expire over the period
from 2018 to 2019. |
| (2) | Aggregate intrinsic value is based on the closing price of our common stock on December 31, 2015 of
$0.0371 and excludes impact of options that were not in the money. |
Share warrants
No warrants were outstanding at December 31,
2015 and December 31, 2014.
Since the Company has a net operating loss carryforward as of
December 31, 2015, no excess tax benefit for the tax deductions related to stock-based awards was recognized for the quarter ended
December 31, 2015. Additionally, no incremental tax benefits were recognized from stock options exercised during the quarter ended
December 31, 2015 that would have resulted in a reclassification to reduce net cash provided by operating activities with an offsetting
increase in net cash provided by financing activities.
8. FAIR VALUE MEASUREMENTS
Cash and cash equivalents are measured at fair value in the
Company’s consolidated financial statements. Accounts receivable are financial assets with carrying values that approximate
fair value due to the short-term nature of these assets. Accounts payable and accrued and other liabilities are financial liabilities
with carrying values that approximate fair value due to the short-term nature of these liabilities. Effective April 1, 2008 the
Company adopted and follows ASC 820, Fair Value Measurements and Disclosures (“ASC 820”) which established a
fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs
when measuring fair value. A financial instruments categorization within the hierarchy is based on the lowest level of input that
is significant to the fair value measurement.
The Company’s cash and cash equivalents are valued using
unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs under ASC 820).
9. SEGMENT INFORMATION
ASC 280 Segment Reporting provides annual and interim
reporting standards for an enterprise’s business segments and related disclosures about its products, services, geographical
areas and major customers. Through September 30, 2015 the Company had two operating segments: (1) patent licensing and (2) products
and services. Patent licensing consists of intellectual property revenues from patent portfolios and products and services consisted
of sales of the Company’s electronic eVU mobile entertainment device and related content services. The Company terminated
providing eVU services in September 2015.
Accounting policies for each of the operating segments are the
same as on a consolidated basis.
Reportable segment information for the three and nine months
ended December 31, 2015 and 2014 is as follows:
|
|
|
For the three months ended |
|
For the nine months ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
2014 |
2015 |
2014 |
|
|
|
$ |
$ |
$ |
$ |
SEGMENT REVENUES: |
|
|
|
|
|
|
|
|
Products and services |
|
– |
|
42,995 |
|
16,031 |
|
147,711 |
Patent licensing |
|
– |
|
1,078,500 |
|
693,500 |
|
2,051,034 |
|
Total revenue |
|
– |
|
1,121,495 |
|
709,531 |
|
2,198,745 |
|
|
|
|
|
|
|
|
|
|
SEGMENT COST OF REVENUES: |
|
|
|
|
|
|
|
|
Products and services |
|
– |
|
79,322 |
|
8,256 |
|
238,729 |
Patent licensing and litigation costs |
|
112,500 |
|
117,185 |
|
337,500 |
|
342,774 |
Contingent legal fees and expenses |
|
5,261 |
|
338,630 |
|
292,156 |
|
642,006 |
|
Total cost of revenues |
|
117,761 |
|
535,137 |
|
637,912 |
|
1,223,509 |
|
|
|
|
|
|
|
|
|
|
RECONCILIATION: |
|
|
|
|
|
|
|
|
Segment income (loss) before corporate costs |
(117,761) |
|
586,358 |
|
71,619 |
|
975,236 |
Other corporate operating costs |
|
246,908 |
|
279,267 |
|
910,945 |
|
810,562 |
Other income (expense) |
|
800 |
|
– |
|
800 |
|
– |
|
Operating income (loss) before provision for income taxes |
|
(363,869) |
|
307,091 |
|
(838,526) |
|
164,674 |
The Company does not have significant assets
employed in the patent license segment and does not track capital expenditures or assets by reportable segment. Consequently, it
is not practical to show this information.
Revenue by geographic region is determined based on the location
of the Company’s direct customers or distributors for product sales and services. Patent license revenue is considered United
States revenue as payments are for licenses for United States operations irrespective of the location of the licensee’s
home domicile.
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
United States | |
| – | | |
| 1,078,500 | | |
| 693,500 | | |
| 2,051,034 | |
International | |
| – | | |
| 42,995 | | |
| 16,031 | | |
| 147,711 | |
Total revenue | |
| – | | |
| 1,121,495 | | |
| 709,531 | | |
| 2,198,745 | |
Revenues from three licensees comprised 25%, 21% and 14% of
revenues for the nine months ended December 31, 2015, with no other licensee or customer accounting for more than 10% of revenues.
Revenues from one licensee comprised 16% of revenue for the nine months ended December 31, 2014, with no other licensee
or customer accounting for more than 10% of revenues. Accounts
receivable from one customer comprised 100% of net accounts receivable at December 31, 2015. Accounts receivable from three customers
comprised 66%, 14%, and 11% of net accounts receivable at December 31, 2014.
10. COMMITMENTS AND CONTINGENCIES
Legal Matters
Intellectual Property Litigation
As of September 30, 2015, the Company had settled or dismissed
all complaints with respect to its Flash-R patent portfolio.
The Company commenced legal action with regard to its
Nunchi portfolio of patents in July 2014 and currently has seven active complaints in the U.S. District Court for the
Northern District of California and one in the U.S. District Court for the Southern District of California. In December 2015,
the United States Patent Trial and Appeal Board (PTAB) granted a defendant’s petition for Inter Partes Review (IPR) of
the asserted patents. An IPR is a procedure for challenging the validity of a United States patent before the United States
Patent and Trademark Office (USPTO).
Commitment Related to Intellectual Property Legal Services
In September 2012 the Company engaged Handal and Associates
(“Handal”) to provide IP legal services in connection with licensing and prosecuting claims of infringement of the
Company’s flash memory patent portfolio. Pursuant to a partial contingent fee arrangement, the Company is paying a monthly
retainer fee of $30,000 to Handal creditable against future contingency recoveries. Handal has agreed to advance related expenses
excluding experts and prior art search firms. The Company has agreed to pay Handal a fee ranging from 33-40% of any license fee
or settlement related to patent enforcement matters, less prior retainers and expenses. The Company may terminate the representation
at any time but would be obligated to pay fees and advances.
The Company remains obligated to pay contingency fees on certain
future Flash-R™ royalty payments from previous matters handled by Duane Morris LLP.
Facility Lease
In January 2012, the Company entered into a sixty-two month
facility lease for its corporate office location, commencing May 1, 2012, for approximately 3,253 square feet at 16870 West Bernardo
Drive, Suite 120, San Diego, California. The aggregate monthly payment is $6,831 excluding utilities and costs. The aggregate payments
adjust annually with maximum payments increasing to $7,157 in the forty-ninth through sixty-second months. Future lease commitments
at December 31, 2015 total $127,518. The Company recognizes rent expense by the straight-line method over the lease term. As of
December 31, 2015, deferred rent totaled $20,656.
Concentration of Credit Risk and Sources of Supply
Financial instruments that potentially subject the Company to
concentration of credit risk consist principally of cash and cash equivalents and trade receivables. The Company maintains cash
and cash equivalent accounts with Federal Deposit Insurance Corporation (“FDIC”) insured financial institutions. Certain
of the Company’s accounts are each insured up to $250,000 by the FDIC. The Company’s exposure for amounts in excess
of FDIC insured limits at December 31, 2015 was approximately $851,000. The Company has not experienced any losses in such accounts.
The Company does not believe that it is subject to any unusual financial risk beyond the normal risk associated with commercial
banking relationships. The Company performs periodic evaluations of the relative credit standing of these financial institutions.
The Company has not experienced any significant losses on its cash equivalents.
Concentrations of credit risk with respect to trade accounts
receivable are limited due to the number and nature of customers comprising the Company’s customer base and their geographic
dispersion. The Company has not incurred any significant credit related losses.
The Company relies on one legal firm to represent it in patent
licensing and enforcement matters.
Guarantees and Indemnifications
The Company enters into standard indemnification agreements
in the ordinary course of business. Some of the Company’s product sales and services agreements include a limited indemnification
provision for claims from third parties relating to the Company’s intellectual property. Such indemnification provisions
are accounted for in accordance with ASC 450, Contingencies. The indemnification is generally limited to the amount paid
by the customer. To date, there have been no claims under such indemnification provisions.
Employee Benefit – 401K Plan
In September 2012, the Company adopted a defined contribution
plan (401(k)) covering its employees. Matching contributions are made on behalf of all participants, according to the Safe Harbor
provision. The Company matches 100% (dollar for dollar) on deferrals of up to 4% of employee compensation deferred. As of December
31, 2015, the Company made matching contributions totaling $7,522.
11. INCOME TAXES
There is no provision for income taxes for the nine months ended
December 31, 2015 as the Company currently estimates its effective tax rate to be zero due to uncertainty of income in future interim
quarters of the current year and due to net operating loss carryforwards.
For the nine months ended December 31, 2014, the provision for
income taxes consisted of $31,350 of foreign withholding taxes on payments in connection with a patent license agreement. Excluding
the impact of foreign withholding taxes, the current year annual effective tax rate is estimated to be zero due to the anticipated
utilization of available net operating loss (“NOL”) carryforwards to reduce U.S. taxable income.
At December 31, 2015 and 2014, the Company had deferred tax
assets associated with federal net operating losses (“NOLs”), related state NOLs, foreign tax credits and certain Federal
and California research and development tax credits, but recorded a corresponding full valuation allowance as it is more likely
than not that some portion or all of the deferred tax assets will not be realized.
The Company records a liability for uncertain tax positions
when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2015,
the Company has no liabilities for uncertain tax positions.
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations
THE FOLLOWING DISCUSSION INCLUDES FORWARD-LOOKING STATEMENTS
WITH RESPECT TO THE COMPANY'S FUTURE FINANCIAL PERFORMANCE. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CURRENTLY ANTICIPATED
AND FROM HISTORICAL RESULTS DEPENDING UPON A VARIETY OF FACTORS, INCLUDING THOSE DESCRIBED BELOW. SEE ALSO THE COMPANY'S ANNUAL
REPORT ON FORM 10-K FOR THE YEAR ENDED MARCH 31, 2015.
Cautionary Note on Forward Looking
Statements
In addition to the other information in this report, the factors
listed below should be considered in evaluating our business and prospects. This report contains a number of forward-looking statements
that reflect our current views with respect to future events and financial performance. These forward-looking statements are subject
to certain risks and uncertainties, including those discussed below and elsewhere herein, that could cause actual results to differ
materially from historical results or those anticipated. In this report, the words “anticipates,” “believes,”
“expects,” “intends,” “future” and similar expressions identify forward-looking statements.
Readers are cautioned to consider the specific factors described below and not to place undue reliance on the forward-looking statements
contained herein, which speak only as of the date hereof. We undertake no obligation to publicly revise these forward-looking statements,
to reflect events or circumstances that may arise after the date hereof.
General
We are a holding company incorporated
under the laws of Delaware that operates through a wholly-owned California subsidiary of the same name. We are developing and marketing
intellectual property consisting of context and interpersonal awareness systems (“Nunchi” technology), advanced
data security technologies (“microSignet” technology), secure communications technologies (“Synap” technology),
and other technologies. We ceased providing eVU® mobile entertainment services to our
travel industry customers in the third quarter of fiscal 2015 (December 31, 2014), with related
contract eVU services ending as of September 30, 2015.
Through September 30, 2015 we had
two operating segments: (1) patent licensing and enforcement and (2) products and services. Our patent licensing and enforcement
revenue consists of intellectual property revenues from our patent portfolio. Our products and services revenue consisted of the
sale of eVU products and accessories to customers, warranty and technical support services, and content integration fees and related
services. At September 30, 2015 we terminated providing eVU services, effectively ending this segment’s operations.
Licensing and Patent Enforcement Activities
We are commercializing our patent portfolios through licensing
and we are aggressively pursuing enforcement by litigating against targeted parties that we believe are infringing our patents.
We commenced legal enforcement actions in 2007 and since September 2012, the law firm of Handal and Associates has been handling
our Patent Enforcement Matters on a partial contingent fee basis.
Our licensing and enforcement activity for each patent portfolio
is summarized as follows:
Flash-R Technology Licensing – Flash-R
litigation created awareness of the Company’s intellectual property among household named companies. The Company sought licenses
through patent enforcement actions from 109 companies and related distributors, with 81 agreeing to license terms through September
30, 2015. Three of the patents in the Flash-R portfolio expired in 2014, and the remaining two patents expire in March 2016. As
of November 1, 2015, we are not pursuing additional enforcement and no open cases remain.
Nunchi Technology Enforcement - We
commenced legal action with regards to our Nunchi portfolio of patents in July 2014. We currently have seven active
complaints in the U.S. District Court for the Northern District of California and one active complaint in the U.S. District
for the Southern District of California. We expect to file future complaints against additional companies. In December 2015,
the United States Patent Trial and Appeal Board (PTAB) granted a defendant’s petition for Inter Partes Review (IPR) of
the asserted patents. An IPR is a procedure for challenging the validity of a United States patent before the United States
Patent and Trademark Office (USPTO). If the patents are upheld, we believe the patents will be stronger against other future
defendants considering IPR challenges. We are in early negotiations with other defendants, and are confident regarding
license and settlement prospects for the Nunchi portfolio.
MicroSignet Technology - We are seeking to
license our MicroSignet technology and to date have not commenced any legal actions but may do so in the future.
Synap Technology –We are seeking to
license our Synap technology and to date have not commenced any legal actions, but may do so in the future.
We have relied upon our Flash-R patent portfolio for 100% of
our licensing and enforcement revenue to date and such Flash-R licensing and enforcement activities have ceased due to the expiration
of three patents in 2014 and the remaining two Flash-R patents in March 2016. We believe that our licensing and/or enforcement
activities with respect to our Nunchi, MicroSignet, and Synap patent portfolios will result in licensing revenue, and continue
to develop additional intellectual property in the areas of context and interpersonal awareness systems and explore new technologies
for possible development or licensing. However, our legal action to enforce our Nunchi portfolio of patents has resulted in no
revenue to date and there can be no assurance that such legal action or future action against additional companies will be successful
or result in licensing revenue. For further information on our technologies and our patent portfolio and related licensing activities,
refer to “Item 1 – Business” of our Annual Report on Form 10-K for the year ended March 31, 2015.
Our business is high risk in nature. There can be no assurance
we can achieve sufficient patent license or other revenues to achieve future profitability. We continue to be subject to the risks
normally associated with introducing new technologies, including unforeseeable expenses, delays and complications. Accordingly,
there is no guarantee that we can or will report operating profits in future periods.
Overall Performance and Trends
We focused significant efforts on developing, licensing and
enforcing our patent portfolio during the last two fiscal years and during the current fiscal year.
We have successfully completed three rounds of enforcement litigation
on our Flash-R patent portfolios and are in the process of additional enforcement actions on our Nunchi patent portfolio. There
is a reluctance of patent infringers to negotiate and ultimately take a patent license without at least the threat of legal action.
However, the majority of patent infringement contentions settle out of court, based on the strength of the patent claims, validity,
and persuasive evidence and clarity that the patent is being infringed. We believe we are building a track record of demonstrating
the strength, validity and clarity of our patent claims that can result in significant future revenues from our patent portfolios.
During the nine months ended December 31, 2015 we recognized
$16,031 of eVU services from one customer contract that terminated September 30, 2015.
We reported a loss for the nine months ended December 31, 2015.
Revenues and profits have been sporadic in prior periods and we have incurred historical losses and negative cash flow from operations.
We may incur losses in the future unless or until licensing revenues are sufficient to achieve profitability.
For the nine months ended December 31, 2015:
| · | We recognized net loss before income taxes of $839,326 compared to
a net income before income taxes of $164,674 for the comparable period of the prior fiscal year. |
| · | Our revenues from products and services were $16,031 for the first
nine months of fiscal 2016 with $693,500 of patent license revenue. This compares to $147,711 of product and service revenue for
the prior year’s first nine months with $2,051,034 of patent license revenue. |
| · | Operating costs and expenses totaling $1,548,857 for the nine months
ended December 31, 2015 compared to $2,034,071 for the comparable prior period primarily due to decreased patent-related legal
costs. |
Management faces challenges and risks for the remainder of fiscal
2016 to execute our plan to monetize our technologies. These challenges include, but are not limited to, successful execution of
our legal and licensing enforcement strategy in an uncertain and changing legal and regulatory environment related to patent infringement.
The failure to obtain additional patent license revenues could have a material adverse impact on our operations. Our patent licensing
business is subject to significant risks discussed herein and in our Annual Report on Form 10-K and is subject to uncertainties
as to the timing and amount of future license revenues, if any.
Our monthly cash operating costs average approximately $116,000
per month. However, we may increase expenditure levels in future periods to support and expand our revenue opportunities and continue
advanced technology research and development. Our quarterly results are highly dependent on the timing and amount of licensing
fees and accordingly quarterly results can vary dramatically from period to period. As a result of this and other factors, past
results and expenditure levels may not be indicative of future quarters. Our ability to continue as a going concern is in doubt
and is dependent upon achieving a profitable level of operations and if necessary obtaining additional financing.
Critical Accounting Policies
The discussion and analysis of our financial condition and results
of operations is based upon our consolidated financial statements located in Item 1 of Part I, “Financial Statements,”
and in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form
10-K for the year ended March 31, 2015. The preparation of these financial statements prepared in accordance with accounting principles
generally accepted in the United States requires us to make estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an on-going basis,
we evaluate our estimates, including but not limited to those related to revenue recognition, bad debts, inventory valuation, intangible
assets, financing operations, stock-based compensation, fair values, income taxes, contingencies and litigation. We
base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances,
the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily
apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
We believe that, of the significant accounting policies discussed
in our consolidated financial statements, the following accounting policies require our most difficult, subjective or complex judgments:
| · | stock-based compensation expense; |
Historically, our assumptions, judgments and estimates relative
to our critical accounting policies have not differed materially from actual results. There were no significant changes or modification
of our critical accounting policies and estimates involving management valuation adjustments affecting our results for the nine
months ended December 31, 2015. For further information on our critical accounting policies, refer to Note 2 to the consolidated
financial statements in our Annual Report on Form 10-K for the year ended March 31, 2015.
Results of Operations
Three months ended December
31, 2015 compared to the three months ended December 31, 2014
| |
Three Months Ended December 31, | | |
| |
| |
2015 | | |
2014 | | |
| |
| |
| | |
% of | | |
| | |
% of | | |
Change | |
| |
Dollars | | |
Revenue | | |
Dollars | | |
Revenue | | |
Dollars | | |
% | |
Revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Products and services | |
| – | | |
| – | | |
| 42,995 | | |
| 4% | | |
| (42,995 | ) | |
| (100% | ) |
Patent licensing | |
| – | | |
| – | | |
| 1,078,500 | | |
| 96% | | |
| (1,078,500 | ) | |
| (100% | ) |
| |
| – | | |
| – | | |
| 1,121,495 | | |
| 100% | | |
| (1,121,495 | ) | |
| (100% | ) |
Operating costs and expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Cost of revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Products and services | |
| – | | |
| – | | |
| 79,322 | | |
| 7% | | |
| (79,322 | ) | |
| (100% | ) |
Patent licensing and litigation costs | |
| 112,500 | | |
| – | | |
| 117,185 | | |
| 11% | | |
| (4,685 | ) | |
| (4% | ) |
Contingent legal fees and expenses | |
| 5,261 | | |
| – | | |
| 338,630 | | |
| 30% | | |
| (333,369 | ) | |
| (98% | ) |
Selling and administrative | |
| 176,366 | | |
| – | | |
| 185,481 | | |
| 17% | | |
| (9,115 | ) | |
| (5% | ) |
Research and development | |
| 70,542 | | |
| – | | |
| 93,786 | | |
| 8% | | |
| (23,244 | ) | |
| (25% | ) |
| |
| 364,669 | | |
| – | | |
| 814,404 | | |
| 73% | | |
| (449,735 | ) | |
| (55% | ) |
Operating income (loss) before other income and provision for income taxes | |
| (364,669 | ) | |
| – | | |
| 307,091 | | |
| 27% | | |
| (671,760 | ) | |
| (219% | ) |
Income (Loss) Before Income Taxes
We reported a net loss before other income and provision for
income taxes of $364,669 for the three months ended December 31, 2015 compared to a net income before income taxes of $307,091
for the comparable period of the prior year due to no new patent license settlements in the current period.
Revenues
Revenues decreased during the third fiscal quarter of 2016 compared
to the same quarter of the prior fiscal year due to no new license arrangements as we transition enforcement efforts from the Flash-R
patent portfolio to the Nunchi patent portfolio and other technologies and the termination of eVU products and services.
License fee revenues recognized fluctuate significantly from
period to period primarily based on the following factors:
|
· |
the dollar amount of agreements executed each period, which is primarily driven by the magnitude of infringement associated with a specific licensee; |
|
· |
the specific terms and conditions of agreements executed each period and the periods of infringement contemplated by the respective payments; and |
|
· |
fluctuations in the number of agreements executed. |
In the future the following additional factors could also impact
revenue variability:
| · | fluctuations in the sales results or other royalty per unit activities
of our licensees that impact the calculation of license fees due; |
| · | the timing of the receipt of periodic license fee payments and/or
reports from licensees. |
We are targeting new patent licensees but our results will continue
to be dependent on the timing and amount of future patent licensing arrangements, if any.
Operating Costs and Expenses
Operating
costs and expenses include cost of revenues associated with our recently terminated products and services segment and costs
associated with our patent licensing and enforcement activities including contingent and non-contingent litigation costs and related
enforcement support costs. For the three months ended December 31, 2015,
operating costs and expenses decreased by $449,735 compared to the same period in the prior year primarily due to reduced contingent
legal costs resulting from no settlements in the most recent quarter.
Patent
licensing and litigation costs related to patent enforcement were $112,500 at December 31, 2015 compared to $117,185 in the prior
year’s third quarter. Non-contingent licensing and litigation costs and related enforcement support costs may be incurred
without any directly related revenues in a respective period. Generally contingent costs relate to revenues during a respective
period but can vary depending on our share of certain costs and expenses. Contingent
legal fees and expenses related to patent enforcement were $5,261 for the three months ended December 31, 2015 compared to $338,630
for the prior year’s third quarter. The decrease is due to reduced costs associated with no patent related revenues in the
current period.
There were no cost of revenues associated
with products and services at December 31, 2015 due to the termination of the eVU business as of September 30, 2015. The prior
year’s third quarter included $79,322 of cost of revenues associated with products and services.
Selling and administrative costs for the three months ended
December 31, 2015 were $176,366 comparable to $185,481 in the prior year period.
Research and related expenses decreased by $23,244 primarily
due reduced salaries and related benefits expenses in the current year of $40,571 as compared $64,827 for the same period in the
prior year. The current year’s third quarter includes $2,782 for noncash stock-based compensation expense as compared to
$2,547 in the same period of the prior year. Research and related expenses can vary significantly from quarter to quarter based
on the allocation of time spent by personnel who work on both revenue producing service and repair projects, on patent related
costs and on internal research projects. Such expenses also vary based on decisions made regarding outside engineering and consulting.
Income Taxes
During the three months ended December 31, 2015, the Company
had no income tax expense. During the same period of the prior year, the Company recorded income tax expense of $31,350 for foreign
taxes on patent licensing revenues.
Income (Loss)
The net loss for the three months ended December 31, 2015 was
$363,869. The net income for the prior comparable third quarter was $275,741 which included the foreign tax expense of $31,350.
Nine months ended December
31, 2015 compared to the nine months ended December 31, 2014
| |
Nine Months Ended December 31, | | |
| |
| |
2015 | | |
2014 | | |
| |
| |
| | |
% of | | |
| | |
% of | | |
Change | |
| |
Dollars | | |
Revenue | | |
Dollars | | |
Revenue | | |
Dollars | | |
% | |
Revenues: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Product and services | |
| 16,031 | | |
| 2% | | |
| 147,711 | | |
| 7% | | |
| (131,680 | ) | |
| (89% | ) |
Patent licensing | |
| 693,500 | | |
| 98% | | |
| 2,051,034 | | |
| 93% | | |
| (1,357,534 | ) | |
| (66% | ) |
| |
| 709,531 | | |
| 100% | | |
| 2,198,745 | | |
| 100% | | |
| (1,489,214 | ) | |
| (68% | ) |
Operating costs and expenses: | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Products and services | |
| 8,256 | | |
| 1% | | |
| 238,729 | | |
| 11% | | |
| (230,473 | ) | |
| (97% | ) |
Patent licensing and litigation costs | |
| 337,500 | | |
| 48% | | |
| 342,774 | | |
| 16% | | |
| (5,274 | ) | |
| (2% | ) |
Contingent legal fees and expenses | |
| 292,156 | | |
| 41% | | |
| 642,006 | | |
| 29% | | |
| (349,850 | ) | |
| (54% | ) |
Selling and administrative | |
| 657,549 | | |
| 93% | | |
| 548,968 | | |
| 25% | | |
| 108,581 | | |
| 20% | |
Research and related | |
| 253,396 | | |
| 36% | | |
| 261,594 | | |
| 12% | | |
| (8,198 | ) | |
| (3% | ) |
| |
| 1,548,857 | | |
| 218% | | |
| 2,034,071 | | |
| 93% | | |
| (485,214 | ) | |
| (24% | ) |
Operating income (loss) before other income and provision for income taxes | |
| (839,326 | ) | |
| (118% | ) | |
| 164,674 | | |
| 7% | | |
| (1,004,000 | ) | |
| (610% | ) |
Income (Loss) Before Other Income and Provision for Income
Taxes
We reported a loss before other income and provision for income
taxes of $839,326 for the nine months ended December 31, 2015 as compared to a net income before income taxes of $164,674 for the
comparable nine month period of the prior year due to reduced patent license settlements in the current period.
Revenues
Revenues decreased during the
most recent nine months compared to the same period of the prior fiscal year due to the decrease in patent license revenue from
$2,051,034 to $693,500. Product and service revenues decreased due to exiting the eVU business.
While we expect additional patent licenses in future periods,
there can be no assurance of the timing or amounts of future license revenues.
Operating Costs and Expenses
Operating
costs and expenses include cost of revenues associated with products and services, and costs associated with our patent
licensing and enforcement activities including contingent and non-contingent litigation costs and related enforcement support costs.
For the nine months ended December 31, 2015, operating costs and expenses decreased by $485,214 compared to the same period in
the prior year.
Cost
of revenues associated with our recently terminated products and
services segment were $16,031 for the nine months ended December 31, 2015 compared to $147,711 for the same period in the prior
year. The decrease of $131,680 is due to the termination of eVU operations as of September 30, 2015.
Patent licensing and litigation costs related to patent enforcement
were $337,500 for the nine months ended December 31, 2015 comparable to $342,774 for the same period in the prior year. Contingent
legal fees and expenses related to patent enforcement were $292,156 for the nine months ended December 31, 2015 compared to $642,006
for the same period in the prior year. The decrease of $349,850 reflects the reduced number of new patent license agreements. Generally
contingent costs relate to revenues during a respective period but can vary depending on accumulated retainers paid and our share
of certain costs and expenses.
Selling and administrative costs for the nine months ended December
31, 2015 increased by $108,581 compared to the same period in the prior year, primarily due to annual meeting costs of $54,687
in the current year with no comparable expense in the prior year, a $14,533 increase in legal fees, a $18,046 increase in salaries
and related expenses, and increased stock-based compensation expense of $54,691 in the current year as compared to $29,946 for
the same period of the prior year.
Research and related expenses decreased by $8,198 for the nine
months ended December 31, 2015 due primarily to reduced salaries and related costs. Research and related expenses can vary significantly
based on patent related costs and on timing of internal research projects. Such expenses also vary based on decisions made regarding
outside engineering and consulting. Research and related expenses for the period ended December 31, 2015 included $13,270 of noncash
stock-based compensation expense as compared to $7,641 in the same period of the prior year.
Income (loss)
The net loss was $838,526 for the nine months ended December
31, 2015. The net income for the prior comparable nine month period was $133,324 which included the foreign income tax expense
of $31,350.
Liquidity and Capital Resources
At December 31, 2015, we had
working capital of $923,613 compared to working capital of $1,709,685
at March 31, 2015. At December 31, 2015 we had cash on hand of $1,083,156.
Operating Activities
Cash used in operating activities was $851,268 for the nine
months ended December 31, 2015. Cash used in operating activities included the net loss of $838,526
decreased by net non-cash expenses of $71,011. Major components reducing operating cash were a $38,389 decrease in accounts
payable and a $57,629 decrease in accrued and other liabilities. A major component providing operating cash was a decrease of $10,756
in accounts receivable.
Cash provided by operating activities was $456,282 for the nine
months ended December 31, 2014. Cash provided by operating activities included the net income of
$133,324 increased by net non-cash expenses of $91,741. Major components also providing operating cash were an increase
of $139,845 in accounts payable, a decrease of $20,623 in deposits and prepaid expenses and a decrease of $163,072 in accounts
receivable. A major component reducing operating cash was a $95,964 decrease in accrued and other liabilities.
Patent license payments are normally due at signing of the license
or within 30-45 days of settlement or end of royalty reporting period.
Individual working capital components can change dramatically
from period to period due to timing of licensing, sales and shipments and corresponding receivable, inventory and payable balances.
Accordingly operating cash requirements vary significantly from period to period.
Investing Activities
We invested $25,157 in computer equipment and website costs
during the nine months ended December 31, 2015. Our efforts are focused primarily on operations and we currently have no significant
investing capital needs. We have no commitments requiring investment capital. There were no cash investing activities during the
nine months ended December 31, 2014.
Financing Activities
We received $6,600 of proceeds from stock option exercises during
the nine months ended December 31, 2015. There were no cash financing activities during the nine months ended December 31, 2014.
Debt and Other Commitments
We
currently have no debt outstanding other than trade payables and accruals. At
December 31, 2015 we had no significant purchase commitments for product and components.
We have future lease commitments on our current facility as
more fully described in our interim condensed consolidated financial statements.
Our legal firm, Handal and Associates, provides IP legal services
in connection with licensing and prosecuting claims of infringement of our flash memory patent portfolio. Pursuant to a partial
contingent fee arrangement, we are paying a monthly retainer fee of $30,000 to Handal creditable against future contingency recoveries.
Handal has agreed to advance related expenses excluding experts and prior art search firms. We have agreed to pay Handal a fee
ranging from 33% to 40% of any license fee or settlement related to Patent Enforcement Matters, less prior retainers and expenses.
We may terminate the representation at any time but would be obligated to pay fees and advances.
The Company remains obligated to pay contingency fees on certain
future Flash-R™ royalty payments from previous matters handled by Duane Morris LLP.
Cash Requirements
Other than cash on hand and
accounts receivable, we have no material unused sources of liquidity at this time. Our monthly cash operating
costs average approximately $116,000 per month. Assuming no new license revenues and current expenditure levels we would require
approximately $310,000 of additional resources to fund operations for the next twelve months. We believe we may be able to
obtain additional funds from future patent licensing but the timing of licenses are subject to many factors and risks, many outside
our control. We may also increase expenditure levels in future periods to support and expand our revenue opportunities and
continue advanced technology research and development. Actual results could differ significantly
from past results and management plans.
Since we have not demonstrated sustainable profitability, our
ability to continue as a going concern is in doubt and is dependent upon achieving sustained profitability and if necessary obtaining
additional financing. We currently have no plans, arrangements or understandings regarding any acquisitions.
Item 4. Controls and Procedures
We maintain disclosure controls and procedures (as defined in
Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), that are
designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed,
summarized and reported within the time periods specified in the Commission’s rules and forms, and that such information
is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate,
to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, management
recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of
achieving the desired control objectives, and management necessarily is required to apply its judgment in evaluating the relationship
between the benefit of desired controls and procedures and the cost of implementing new controls and procedures.
We carried out an evaluation under the supervision and with
the participation of management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the
design and operation of our disclosure controls and procedures as of December 31, 2015, the end of the period covered by this report.
Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and
procedures were effective at the reasonable assurance level in ensuring that information required to be disclosed by us in the
reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified
in the Commission's rules and forms.
CHANGES IN INTERNAL CONTROL OVER FINANCIAL REPORTING
There have been no changes in our internal control over financial
reporting during our fiscal quarter ended December 31, 2015 that have materially affected, or are reasonably likely to materially
affect, our internal control over financial reporting. Our process for evaluating controls and procedures is continuous and encompasses
constant improvement of the design and effectiveness of established controls and procedures and the remediation of any deficiencies
which may be identified during this process.
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
The Company engages in litigation from time to time as part
of our patent portfolio licensing and enforcement activities. We have completed enforcement actions with respect to our Flash-R
patent portfolio; all cases have been settled or dismissed.
We commenced legal action with regard to our Nunchi portfolio
of patents in July 2014 and we currently have seven active complaints in the U.S. District Court for the Northern District of
California and one active complaint in the U.S. District Court for the Southern District of California. In December 2015, the
United States Patent Trial and Appeal Board (PTAB) granted a defendant’s petition for Inter Partes Review (IPR) of the asserted
patents. An IPR is a procedure for challenging the validity of a United States patent before the United States Patent and Trademark
Office (USPTO).
Item 2. Unregistered Sales
of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior
Securities
NONE
Item 4. Mine Safety Disclosures
NONE
Item 5. Other Information
(a) NONE
(b) NONE
Item 6. Exhibits
Exhibit 31.1 – Certification pursuant to 18 U.S.C. Section
1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, signed by Alfred H. Falk, President and CEO (Principal
Executive Officer).
Exhibit 31.2 – Certification pursuant to 18 U.S.C. Section
1350 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, signed by MarDee Haring-Layton, Chief Financial Officer
(Principal Financial Officer).
Exhibit 32.1 – Certification pursuant to 18 U.S.C. Section
1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, signed by Alfred H. Falk, President and CEO (Principal
Executive Officer) and MarDee Haring-Layton, Chief Financial Officer (Principal Financial Officer).
|
Extensible Business Reporting Language (XBRL) Exhibits* |
101.INS |
XBRL Instance Document* |
101.SCH |
XBRL Taxonomy Extension Schema Document* |
101.CAL |
XBRL Taxonomy Extension Calculation Linkbase Document* |
101.DEF |
XBRL Taxonomy Extension Definition Linkbase Document* |
101.LAB |
XBRL Taxonomy Extension Labels Linkbase Document* |
101.PRE |
XBRL Taxonomy Extension Presentation Linkbase Document* |
*Pursuant to Rule 406T of Regulation S-T, the Interactive Data
Files in Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11
or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended, and otherwise are not subject to liability under those sections.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
e.DIGITAL CORPORATION |
|
|
|
By: |
/s/ ALFRED H. FALK |
|
|
Alfred H. Falk, President and Chief Executive Officer
(Principal Executive Officer) |
|
|
|
By: |
/s/ MARDEE HARING-LAYTON |
|
|
MarDee Haring-Layton, Chief Financial Officer
(Principal Financial Officer) |
Date: February 11, 2016
Exhibit 31.1
CERTIFICATION
I, Alfred H. Falk, certify that:
| 1. | I have reviewed this quarterly report on Form 10-Q of e.Digital Corporation; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods
presented in this report; |
| 4. | The registrant’s other certifying officers and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
for the registrant and have: |
| a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared; |
| b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles; |
| c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and |
| d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during
the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial
reporting; and |
| 5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors
(or persons performing the equivalent functions): |
| a) | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial
information; and |
| b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s
internal control over financial reporting. |
Date: February 11, 2016
/s/ ALFRED H. FALK
Alfred H. Falk
President and Chief Executive Officer (Principal Executive Officer)
Exhibit 31.2
CERTIFICATION
I, MarDee Haring-Layton, certify
that:
| 1. | I have reviewed this quarterly report on Form 10-Q of e.Digital Corporation; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods
presented in this report; |
| 4. | The registrant’s other certifying officers and I are responsible
for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e))
and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f))
for the registrant and have: |
| a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known
to us by others within those entities, particularly during the period in which this report is being prepared; |
| b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed
under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles; |
| c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on
such evaluation; and |
| d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during
the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial
reporting; and |
| 5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors
(or persons performing the equivalent functions): |
| a) | all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial
information; and |
| b) | any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s
internal control over financial reporting. |
Date: February 11, 2016
/s/ MARDEE HARING-LAYTON
MarDee Haring-Layton
Chief Financial Officer (Principal Financial Officer)
Exhibit 32.1
CERTIFICATION OF CHIEF EXECUTIVE OFFICER
AND PRINCIPAL FINANCIAL OFFICER
PURSUANT TO
18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT
OF 2002
Each of the undersigned hereby certifies, in accordance with
18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, in his or her capacity as an officer of e.Digital
Corporation (the "Company"), that, to his or her knowledge, the Quarterly Report of the Company on Form 10-Q for the
period ended December 31, 2015, fully complies with the requirements of Section 13(a) or Section 15(d) of the Securities Exchange
Act of 1934 and that the information contained in such report fairly presents, in all material respects, the financial condition
and results of operation of the Company.
Date: February 11, 2016
/s/ ALFRED H. FALK
Alfred H. Falk,
President and Chief Executive
Officer
(Principal Executive Officer)
Date: February 11, 2016
/s/ MARDEE HARING-LAYTON
MarDee Haring-Layton
Chief Financial
Officer (Principal Financial Officer)
v3.3.1.900
X |
- DefinitionIf the value is true, then the document is an amendment to previously-filed/accepted document.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.
+ References
+ Details
Name: |
dei_DocumentFiscalPeriodFocus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fiscalPeriodItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
+ Details
Name: |
dei_DocumentFiscalYearFocus |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gYearItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
+ Details
Name: |
dei_EntityCommonStockSharesOutstanding |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionIndicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityCurrentReportingStatus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityFilerCategory |
Namespace Prefix: |
dei_ |
Data Type: |
dei:filerCategoryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.
+ References
+ Details
Name: |
dei_EntityVoluntaryFilers |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.
+ References
+ Details
Name: |
dei_EntityWellKnownSeasonedIssuer |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
|
Dec. 31, 2015 |
Mar. 31, 2015 |
Current |
|
|
Cash and cash equivalents |
$ 1,083,156
|
$ 1,952,981
|
Accounts receivable |
462
|
11,218
|
Inventory, net |
0
|
0
|
Deposits and prepaid expenses |
41,029
|
42,538
|
Total current assets |
1,124,647
|
2,006,737
|
Property, equipment and intangibles, net of accumulated depreciation and amortization of $162,835 and $166,529, respectively |
29,322
|
7,215
|
Total assets |
1,153,969
|
2,013,952
|
Current |
|
|
Accounts payable, trade |
101,904
|
140,293
|
Accrued and other liabilities |
99,130
|
156,759
|
Total current liabilities |
201,034
|
$ 297,052
|
Commitments and Contingencies |
|
|
Stockholders' equity |
|
|
Preferred stock, $0.001 par value; 5,000,000 shares authorized, none issued and outstanding |
0
|
$ 0
|
Common stock, $0.001 par value, authorized 350,000,000, 293,678,330 and 293,378,330 issued and outstanding, respectively |
293,678
|
293,378
|
Additional paid-in capital |
83,005,309
|
82,931,048
|
Accumulated deficit |
(82,346,052)
|
(81,507,526)
|
Total stockholders' equity |
952,935
|
1,716,900
|
Total liabilities and stockholders' equity |
$ 1,153,969
|
$ 2,013,952
|
X |
- DefinitionCarrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_AccountsPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3-4) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 3 -Subparagraph a(1) -Article 5
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 4 -Article 5
+ Details
Name: |
us-gaap_AccountsReceivableNetCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionExcess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.30(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 31 -Article 5
+ Details
Name: |
us-gaap_AdditionalPaidInCapital |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.18) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 12 -Article 7
+ Details
Name: |
us-gaap_Assets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.9) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6801-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_AssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.(a),19) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14326-108349
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_CommitmentsAndContingencies |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51655945&loc=d3e3927-108312
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.32) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 25 -Article 7
+ Details
Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.21) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_LiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCarrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e7018-107765
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Current Liabilities -URI http://asc.fasb.org/extlink&oid=6509677
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6911-107765
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6935-107765
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_OtherAccruedLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets.
+ References
+ Details
Name: |
us-gaap_PrepaidExpenseAndOtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 13 -Subparagraph a -Article 5
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 8 -Article 7
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionThe cumulative amount of the reporting entity's undistributed earnings or deficit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.31(a)(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited ) (Parenthetical) - USD ($)
|
Dec. 31, 2015 |
Mar. 31, 2015 |
ASSETS |
|
|
Accumulated depreciation |
$ 162,835
|
$ 166,529
|
Stockholders' equity |
|
|
Preferred stock, par value |
$ 0.001
|
$ 0.001
|
Preferred stock, shares authorized |
5,000,000
|
5,000,000
|
Preferred stock, shares issued |
0
|
0
|
Preferred stock, shares outstanding |
0
|
0
|
Common stock, par value |
$ .001
|
$ 0.001
|
Common stock, shares authorized |
350,000,000
|
350,000,000
|
Common stock, shares issued |
293,678,330
|
298,378,330
|
Common stock, shares outstanding |
293,678,330
|
293,378,330
|
X |
- DefinitionAmount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5
+ Details
Name: |
us-gaap_CommonStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5
+ Details
Name: |
us-gaap_PreferredStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
|
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Revenues: |
|
|
|
|
Products and services |
$ 0
|
$ 42,995
|
$ 16,031
|
$ 147,711
|
Patent licensing |
0
|
1,078,500
|
693,500
|
2,051,034
|
Total Revenues |
0
|
1,121,495
|
709,531
|
2,198,745
|
Cost of revenues: |
|
|
|
|
Products and services |
0
|
79,322
|
8,256
|
238,729
|
Patent licensing and litigation costs |
112,500
|
117,185
|
337,500
|
342,774
|
Contingent legal fees and expenses |
5,261
|
338,630
|
292,156
|
642,006
|
Selling and administrative |
176,366
|
185,481
|
657,549
|
548,968
|
Research and related expenditures |
70,542
|
93,786
|
253,396
|
261,594
|
Total operating costs and expenses |
364,669
|
814,404
|
1,548,857
|
2,034,071
|
Operating income (loss) before other income and provision for income taxes |
(364,669)
|
307,091
|
(839,326)
|
164,674
|
Other income: |
|
|
|
|
Other income |
800
|
0
|
800
|
0
|
Other income |
800
|
0
|
800
|
0
|
Income (loss) before provision for income taxes |
(363,869)
|
307,091
|
(838,526)
|
164,674
|
Income tax expense |
0
|
(31,350)
|
0
|
(31,350)
|
Income (loss) for the period |
$ (363,869)
|
$ 275,741
|
$ (838,526)
|
$ 133,324
|
Income (loss) per common share - basic |
$ (0.00)
|
$ 0.00
|
$ (0.00)
|
$ 0.00
|
Income (loss) per common share - diluted |
$ (0.00)
|
$ 0.00
|
$ (0.00)
|
$ 0.00
|
Weighted average common shares outstanding |
|
|
|
|
Basic |
293,678,330
|
293,328,330
|
293,564,512
|
293,328,330
|
Diluted |
293,678,330
|
294,164,274
|
293,564,512
|
294,135,318
|
X |
- DefinitionThe aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(a),(d)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_CostOfGoodsAndServicesSold |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_CostOfRevenueAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.23) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9
+ Details
Name: |
us-gaap_EarningsPerShareBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9
+ Details
Name: |
us-gaap_EarningsPerShareDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of expense provided in the period for legal costs incurred on or before the balance sheet date pertaining to resolved, pending or threatened litigation, including arbitration and mediation proceedings.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_LegalFees |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionCosts incurred and are directly related to generating license revenue. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2(e)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_LicenseCosts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionRevenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1(e)) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_LicensesRevenue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
+ Details
Name: |
us-gaap_OperatingExpenses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionReflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.4) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
+ Details
Name: |
us-gaap_OtherIncome |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OtherIncomeAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_OtherNonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569616-111683
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591552-111686
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591551-111686
+ Details
Name: |
us-gaap_ProfitLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 730 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6420194&loc=d3e21568-108373
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 985 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6501960&loc=d3e128462-111756
+ Details
Name: |
us-gaap_ResearchAndDevelopmentExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_Revenues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_RevenuesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTotal revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_SalesRevenueNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 30 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=51677171&loc=d3e3636-108311
+ Details
Name: |
us-gaap_SellingGeneralAndAdministrativeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1505-109256
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Weighted-Average Number of Common Shares Outstanding -URI http://asc.fasb.org/extlink&oid=6528421
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
|
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
OPERATING ACTIVITIES |
|
|
Income (loss) for period |
$ (838,526)
|
$ 133,324
|
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |
|
|
Depreciation and amortization |
3,050
|
3,876
|
Inventory market and reserve adjustment |
0
|
50,278
|
Stock-based compensation |
67,961
|
37,587
|
Changes in assets and liabilities: |
|
|
Accounts receivable |
10,756
|
163,072
|
Inventory |
0
|
3,641
|
Deposits and prepaid expenses |
1,509
|
20,623
|
Accounts payable, trade |
(38,389)
|
139,845
|
Accrued and other liabilities |
(57,629)
|
(95,964)
|
Cash provided by (used in) operating activities |
(851,268)
|
456,282
|
INVESTING ACTIVITIES |
|
|
Purchase of equipment and intangibles |
(25,157)
|
0
|
Cash used in investing activities |
(25,157)
|
0
|
FINANCING ACTIVITIES |
|
|
Proceeds from exercise of stock options |
6,600
|
0
|
Cash provided by financing activities |
6,600
|
0
|
Net increase (decrease) in cash and cash equivalents |
(869,825)
|
456,282
|
Cash and cash equivalents, beginning of period |
1,952,981
|
1,787,863
|
Cash and cash equivalents, end of period |
$ 1,083,156
|
$ 2,244,145
|
X |
- DefinitionInventory market and reserve adjustment
+ References
+ Details
Name: |
EDIG_InventoryMarketAndReserveAdjustment |
Namespace Prefix: |
EDIG_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash -URI http://asc.fasb.org/extlink&oid=6506951
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3044-108585
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Cash Equivalents -URI http://asc.fasb.org/extlink&oid=6507016
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAtCarryingValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 830 -SubTopic 230 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=49171198&loc=d3e33268-110906
+ Details
Name: |
us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_DepreciationAndAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate amount of accrued expenses and other operating obligations not separately disclosed in the statement of cash flows.
+ References
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInInventories |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncreaseDecreaseInOperatingCapitalAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3213-108585
+ Details
Name: |
us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3255-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228
+ Details
Name: |
us-gaap_ProceedsFromStockOptionsExercised |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.3.1.900
1. NATURE OF OPERATIONS AND BASIS OF PRESENTATION
|
9 Months Ended |
Dec. 31, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
NATURE OF OPERATIONS AND BASIS OF PRESENTATION |
1. NATURE OF OPERATIONS AND
BASIS OF PRESENTATION
e.Digital Corporation is a holding
company incorporated under the laws of Delaware that operates through a wholly-owned California subsidiary of the same name. The
Company is developing and marketing an intellectual property portfolio consisting of context and interpersonal awareness systems
(Nunchi® technology), advanced data security technologies (microSignet technology), secure
communication technologies (Synap technology) and other technologies.
Unaudited Interim Financial
Statements
These unaudited condensed consolidated
financial statements have been prepared by management in accordance with accounting principles generally accepted in the United
States and with the instructions to Form 10-Q and Article 10 of Regulation S-X. These interim condensed consolidated financial
statements do not include all of the information and footnotes required by accounting principles generally accepted in the United
States for complete financial statements. In the opinion of management, the unaudited consolidated financial statements reflect
all adjustments considered necessary for a fair statement of the Company's financial position at December 31, 2015, and the results
of its operations and cash flows for the periods presented, consisting only of normal and recurring adjustments. All significant
intercompany transactions have been eliminated in consolidation. Operating results for the three and nine months ended December
31, 2015 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2016. For further
information, refer to the Company's consolidated financial statements and footnotes thereto for the year ended March 31, 2015
filed on Form 10-K.
Liquidity / Going Concern
The Company has incurred significant
historical losses and negative cash flow from operations and has an accumulated deficit of $82,346,052 at December 31, 2015. Other
than cash on hand, the Company has no other sources of financing currently available as of December 31, 2015. The Company may
incur additional losses in the future until licensing or other revenues are sufficient to sustain continued profitability. Until
the Company can demonstrate sustained profitability, its ability to continue as a going concern is in doubt and may be dependent
upon obtaining additional financing in the future. There is no assurance that the Company will be successful in generating or
raising funds, if necessary, to sustain its operations for twelve months or beyond. Should the Company be unable to generate funds
or obtain required financing, it may have to curtail operations, which may have a material adverse effect on its financial position
and results of operations. Uncertainty as to the outcome of these factors raises substantial doubt about the Companys ability
to continue as a going concern. These consolidated financial statements do not give effect to any adjustments that would be necessary
should the Company be unable to continue as a going concern and therefore be required to realize its assets and discharge its
liabilities in other than the normal course of business and at amounts different from those reflected in the accompanying consolidated
financial statements.
Estimates
The preparation of financial statements
in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions
that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of
the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could
differ from those estimates.
|
X |
- DefinitionThe entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
+ References
+ Details
Name: |
us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
2. RECENT ACCOUNTING PRONOUNCEMENTS
|
9 Months Ended |
Dec. 31, 2015 |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] |
|
RECENT ACCOUNTING PRONOUNCEMENTS |
2. RECENT ACCOUNTING PRONOUNCEMENTS
In April 2014, the FASB issued
ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity, which changes
the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure
requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components
that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a
major effect on an entitys operations and financial results. The new standard applies prospectively to new
disposals and new classifications of disposal groups as held for sale after the effective date. The amendment is effective
for annual reporting periods beginning after December 15, 2014 and interim periods within those annual periods. The Company
adopted this guidance effective April 1, 2015 and expects, as a result, that the discontinuation of eVU entertainment services
is not a major strategic shift and does not have a significant impact on the Company's consolidated financial statements.
In May 2014, the Financial Accounting
Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts
with Customers, which requires entities to recognize revenue in a way that depicts the transfer of promised goods or services
to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those
goods or services. The new guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue
and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized
from costs incurred to obtain or fulfill a contract. The amendment is effective for annual reporting periods beginning after December
15, 2016 and interim periods within those annual periods. In response to stakeholders requests to defer the effective date,
the Board issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date. The amendments
in this Update defer the effective date of Update 2014-09 for all entities by one year. Public entities should apply guidance
in Update 2014-09 to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that
reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including
interim reporting periods within that reporting period. The Company is currently evaluating the new standard.
In June 2014, the FASB issued
ASU No. 2014-12, Compensation Stock Compensation: Accounting for Share-Based Payments When the Terms of an Award Provide
that a Performance Target Could be Achieved after the Requisite Service Period. The guidance requires that a performance target
that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. The
guidance will be effective for annual periods and interim periods within those annual periods beginning after December 15, 2015.
Early adoption is permitted. The Company is currently evaluating the impact of this guidance, if any, on its consolidated financial
statements.
In August 2014, the FASB issued
ASU 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40) - Disclosure of Uncertainties about an Entity's
Ability to Continue as a Going Concern. This ASU requires management to assess an entity's ability to continue as a going
concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the
ASU (1) provides a definition of the term substantial doubt, (2) requires an evaluation every reporting period including interim
periods, (3) provides principles for considering the mitigating effect of management's plans, (4) requires certain disclosures
when substantial doubt is alleviated as a result of consideration of management's plans, (5) requires an express statement and
other disclosures when substantial doubt is not alleviated, and (6) requires an assessment for a period of one year after the
date that the financial statements are issued (or available to be issued). This standard is effective for the fiscal years ending
after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. Since
this guidance primarily addresses certain disclosures to the financial statements, we anticipate no impact on our financial position,
results of operations or cash flows from adopting this standard. The Company is currently evaluating the new guidance to
determine the impact it will have on its consolidated financial statement disclosures.
In January 2015, the FASB issued
ASU 2015-01, Extraordinary and Unusual Items, eliminating the concept of extraordinary items for presentation
on the face of the income statement. Under the new standard, a material event or transaction that is unusual in nature, infrequent
or both shall be reported as a separate component of income from continuing operations. Alternatively, it may be disclosed in
the notes to financial statements. The new accounting guidance is effective for interim and annual periods beginning after December
15, 2015. Early adoption is permitted if applied from the beginning of a fiscal year. As applicable, this standard may change
the presentation of amounts in the income statements. The Company plans to adopt ASU 2015-01 effective April 1, 2016.
In July 2015, the FASB issued
ASU 2015-11, Simplifying the Measurement of Inventory. Under this ASU, inventory will be measured at the
lower of cost and net realizable value and options that currently exist for market value will be eliminated.
The ASU defines net realizable value as the estimated selling prices in the ordinary course of business, less reasonably
predictable costs of completion, disposal, and transportation. No other changes were made to the current guidance on inventory
measurement. ASU 2015-11 is effective for interim and annual periods beginning after December 15, 2016. Early application is permitted
and should be applied prospectively. The Company is currently evaluating this guidance, including the period to adopt and the
impact, if any, on its consolidated financial statements.
Other Accounting Standards Updates
not effective until after December 31, 2015 are not expected to have a material effect on the Companys financial position
or results of operations.
|
X |
- References
+ Details
Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Change in Accounting Principle -URI http://asc.fasb.org/extlink&oid=6507316
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Direct Effects of a Change in Accounting Principle -URI http://asc.fasb.org/extlink&oid=6510796
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22583-107794
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Indirect Effects of a Change in Accounting Principle -URI http://asc.fasb.org/extlink&oid=6515603
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22580-107794
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.10-01.(b)(6)) -URI http://asc.fasb.org/extlink&oid=27015980&loc=d3e46468-122699
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Accounting Change -URI http://asc.fasb.org/extlink&oid=6503790
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56949863&loc=d3e22499-107794
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Retrospective Application -URI http://asc.fasb.org/extlink&oid=6523989
Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305
Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305
+ Details
Name: |
us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
3. INCOME (LOSS) PER SHARE
|
9 Months Ended |
Dec. 31, 2015 |
Earnings Per Share [Abstract] |
|
INCOME (LOSS) PER SHARE |
3. INCOME (LOSS) PER SHARE
Basic income (loss) per common
share is computed by dividing net income (loss) for the period by the weighted-average number of shares of common stock outstanding
during the period. Diluted income (loss) per common share is computed by dividing net income (loss)
by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional
shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive
securities included outstanding stock options. The dilutive effect of potentially dilutive securities is reflected in diluted
earnings per share by application of the treasury stock method. Under the treasury stock method,
an increase in the fair market value of the Companys common stock can result in a greater dilutive effect from potentially
dilutive securities.
The following table sets forth
the computation of basic and diluted earnings per share:
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
| |
| | | |
| | | |
| | | |
| | |
Net income (loss) | |
$ | (363,869 | ) | |
$ | 275,741 | | |
$ | (838,526 | ) | |
$ | 133,324 | |
Weighted average common shares - basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Basic income (loss) per common share | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Diluted | |
| | | |
| | | |
| | | |
| | |
Net income (loss) | |
$ | (363,869 | ) | |
$ | 275,741 | | |
$ | (838,526 | ) | |
$ | 133,324 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average common shares - basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Effect of dilutive common shares | |
| | | |
| 835,944 | | |
| | | |
| 806,988 | |
Weighted average common shares - diluted | |
| 293,678,330 | | |
| 294,164,274 | | |
| 293,564,512 | | |
| 294,135,318 | |
Net income (loss) per common share - basic | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
Net income (loss) per common share - diluted | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Potentially dilutive securities
outstanding at period end excluded from diluted computation as they were antidilutive | |
| 4,500,000 | | |
| | | |
| 4,500,000 | | |
| | |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for earnings per share.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_EarningsPerShareTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
4. LIQUIDITY
|
9 Months Ended |
Dec. 31, 2015 |
Notes to Financial Statements |
|
LIQUIDITY |
4. LIQUIDITY
The Company has not identified
any trends or any known demands, commitments, events or uncertainties that will result in or that are reasonably likely to result
in a material increase or decrease in liquidity. During the third quarter of fiscal 2015, the Company ceased marketing eVU products
and accessories, but continued providing service to one customer through September 30, 2015. The termination of eVU operations
and the loss of eVU revenues did not have a material impact on liquidity, results of operations or financial condition of the
Company.
|
X |
- DefinitionLiquidity disclosure text block
+ References
+ Details
Name: |
EDIG_LiquidityTextBlock |
Namespace Prefix: |
EDIG_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
EDIG_NotesToFinancialStatementsAbstract |
Namespace Prefix: |
EDIG_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
5. INVENTORIES
|
9 Months Ended |
Dec. 31, 2015 |
Inventory Disclosure [Abstract] |
|
INVENTORIES |
5. INVENTORIES
Inventory is recorded at the lower
of cost or net realizable value. The cost of substantially all the Companys inventory is determined by the weighted average cost
method. The Company reserves for inventory that is obsolete or determined to be slow-moving and classifies the slow moving portion
of inventory as a long-term asset. The Company has ceased offering new eVU systems and accordingly has fully reserved inventory
at December 31, 2015.
Inventories consisted of the following:
| |
December 31, | | |
March 31, | |
| |
2015 | | |
2015 | |
| |
$ | | |
$ | |
Raw materials | |
| 18,794 | | |
| 37,559 | |
Work in process | |
| | | |
| 12,842 | |
Finished goods | |
| 26,401 | | |
| 29,512 | |
| |
| 45,195 | | |
| 79,913 | |
Reserve for obsolescence | |
| (45,195 | ) | |
| (79,913 | ) |
| |
| | | |
| | |
The foregoing is net of an aggregate
lower-of-cost-or-market inventory adjustment of $64,409 at December 31, 2015 and $81,609 at March 31, 2015. The Company has ceased
offering new eVU systems and accordingly has fully reserved inventory at December 31, 2015.
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a, b, c -Article 5
+ Details
Name: |
us-gaap_InventoryDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
6. STOCK-BASED COMPENSATION COSTS
|
9 Months Ended |
Dec. 31, 2015 |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] |
|
STOCK-BASED COMPENSATION COSTS |
6. STOCK-BASED COMPENSATION
COSTS
The
Company accounts for stock-based compensation under the provisions of ASC 718, Share-Based Payment and ASC 505-50, Equity-Based
Payments to Non-Employees. ASC 718 requires measurement of all employee stock-based awards using a fair-value method
and recording of related compensation expense in the consolidated financial statements over the requisite service period. Further,
as required under ASC 718, the Company estimates forfeitures for stock-based awards that are not expected to vest. The
Company recorded stock-based compensation in its consolidated statements of operations for the relevant periods as follows:
| |
Three Months Ended | | |
Nine Months Ended | |
| |
December
31, | | |
December
31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
Research and development | |
| 2,782 | | |
| 2,547 | | |
| 13,270 | | |
| 7,641 | |
Selling and administrative | |
| 4,358 | | |
| 9,982 | | |
| 54,691 | | |
| 29,946 | |
Total stock-based compensation expense | |
| 7,140 | | |
| 12,529 | | |
| 67,961 | | |
| 37,587 | |
As of December 31, 2015 total
estimated compensation cost of stock options granted but not yet vested was $39,598 and is expected to be recognized over the
weighted average period of approximately nine months.
No stock options were granted
during the three or nine-month periods ended December 31, 2015 and 2014.
See Note 7 for further information
on outstanding stock options.
|
X |
- DefinitionThe entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14
+ Details
Name: |
us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
7. STOCKHOLDERS' EQUITY
|
9 Months Ended |
Dec. 31, 2015 |
Stockholders' equity |
|
STOCKHOLDERS' EQUITY |
7. STOCKHOLDERS EQUITY
The following table summarizes
stockholders equity transactions during the nine-month period ended December 31, 2015:
| |
Common stock | | |
Additional paid-in | | |
Accumulated | | |
total stockholders | |
| |
Shares | | |
Amount | | |
capital | | |
deficit | | |
equity | |
| |
| | |
$ | | |
$ | | |
$ | | |
$ | |
Balance, April 1, 2015 | |
| 293,378,330 | | |
| 293,378 | | |
| 82,931,048 | | |
| (81,507,526 | ) | |
| 1,716,900 | |
Stock-based compensation | |
| | | |
| | | |
| 67,961 | | |
| | | |
| 67,961 | |
Shares issued on exercise of stock
options | |
| 300,000 | | |
| 300 | | |
| 6,300 | | |
| | | |
| 6,600 | |
Net income for the period | |
| | | |
| | | |
| | | |
| (838,526 | ) | |
| (838,526 | ) |
Balance, December 31,
2015 | |
| 293,678,330 | | |
| 293,678 | | |
| 83,005,309 | | |
| (82,346,052 | ) | |
| 952,935 | |
Options
The following
table summarizes stock option activity for the period:
| | |
| | |
Weighted average | | |
Aggregate | |
| | |
Shares | | |
exercise price | | |
Intrinsic Value | |
| | | |
# | | |
$ | | |
$ | |
| Outstanding
April 1, 2015 | | |
| 5,948,578 | | |
| 0.0670 | | |
| | |
| Granted | | |
| | | |
| | | |
| | |
| Exercised | | |
| (300,000 | ) | |
| 0.0220 | | |
| | |
| Canceled/expired | | |
| (1,148,578 | ) | |
| 0.027 | | |
| | |
| Outstanding
December 31, 2015 | | |
| 4,500,000 | | |
| 0.0799 | | |
$ | | |
| Exercisable
at December 31, 2015 | | |
| 3,480,000 | | |
| 0.0711 | | |
$ | | |
| (1) | Options
outstanding are exercisable at prices ranging from $0.055 to $0.11 and expire over the
period from 2018 to 2019. |
| (2) | Aggregate
intrinsic value is based on the closing price of our common stock on December 31, 2015
of $0.0371 and excludes impact of options that were not in the money. |
Share warrants
No warrants
were outstanding at December 31, 2015 and December 31, 2014.
Since the Company has a net operating
loss carryforward as of December 31, 2015, no excess tax benefit for the tax deductions related to stock-based awards was recognized
for the quarter ended December 31, 2015. Additionally, no incremental tax benefits were recognized from stock options exercised
during the quarter ended December 31, 2015 that would have resulted in a reclassification to reduce net cash provided by operating
activities with an offsetting increase in net cash provided by financing activities.
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656
Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644
Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494
Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644
Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E
Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C
+ Details
Name: |
us-gaap_StockholdersEquityNoteDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
8. FAIR VALUE MEASUREMENTS
|
9 Months Ended |
Dec. 31, 2015 |
Fair Value Disclosures [Abstract] |
|
FAIR VALUE MEASUREMENTS |
8. FAIR VALUE MEASUREMENTS
Cash and cash equivalents are
measured at fair value in the Companys consolidated financial statements. Accounts receivable are financial assets with
carrying values that approximate fair value due to the short-term nature of these assets. Accounts payable and accrued and other
liabilities are financial liabilities with carrying values that approximate fair value due to the short-term nature of these liabilities.
Effective April 1, 2008 the Company adopted and follows ASC 820, Fair Value Measurements and Disclosures (ASC 820)
which established a fair value hierarchy that requires the Company to maximize the use of observable inputs and minimize the use
of unobservable inputs when measuring fair value. A financial instruments categorization within the hierarchy is based on the
lowest level of input that is significant to the fair value measurement.
The Companys cash and cash
equivalents are valued using unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs under
ASC 820).
|
X |
- References
+ Details
Name: |
us-gaap_FairValueDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13537-108611
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13504-108611
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611
+ Details
Name: |
us-gaap_FairValueDisclosuresTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
9. SEGMENT INFORMATION
|
9 Months Ended |
Dec. 31, 2015 |
Segment Reporting, Measurement Disclosures [Abstract] |
|
SEGMENT INFORMATION |
9. SEGMENT INFORMATION
ASC 280 Segment Reporting
provides annual and interim reporting standards for an enterprises business segments and related disclosures about its
products, services, geographical areas and major customers. Through September 30, 2015 the Company had two operating segments:
(1) patent licensing and (2) products and services. Patent licensing consists of intellectual property revenues from patent portfolios
and products and services consisted of sales of the Companys electronic eVU mobile entertainment device and related content
services. The Company terminated providing eVU services in September 2015.
Accounting policies for each of
the operating segments are the same as on a consolidated basis.
Reportable segment information
for the three and nine months ended December 31, 2015 and 2014 is as follows:
|
|
|
For the three months ended |
|
For the nine months ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
2014 |
2015 |
2014 |
|
|
|
$ |
$ |
$ |
$ |
SEGMENT REVENUES: |
|
|
|
|
|
|
|
|
Products and services |
|
|
|
42,995 |
|
16,031 |
|
147,711 |
Patent licensing |
|
|
|
1,078,500 |
|
693,500 |
|
2,051,034 |
|
Total
revenue |
|
|
|
1,121,495 |
|
709,531 |
|
2,198,745 |
|
|
|
|
|
|
|
|
|
|
SEGMENT COST OF REVENUES: |
|
|
|
|
|
|
|
|
Products and services |
|
|
|
79,322 |
|
8,256 |
|
238,729 |
Patent licensing and litigation costs |
|
112,500 |
|
117,185 |
|
337,500 |
|
342,774 |
Contingent legal fees and expenses |
|
5,261 |
|
338,630 |
|
292,156 |
|
642,006 |
|
Total cost of revenues |
|
117,761 |
|
535,137 |
|
637,912 |
|
1,223,509 |
|
|
|
|
|
|
|
|
|
|
RECONCILIATION: |
|
|
|
|
|
|
|
|
Segment income (loss) before corporate costs |
(117,761) |
|
586,358 |
|
71,619 |
|
975,236 |
Other corporate operating costs |
|
246,908 |
|
279,267 |
|
910,945 |
|
810,562 |
Other income (expense) |
|
800 |
|
|
|
800 |
|
|
|
Operating income (loss) before provision for income
taxes |
|
(363,869) |
|
307,091 |
|
(838,526) |
|
164,674 |
The Company
does not have significant assets employed in the patent license segment and does not track capital expenditures or assets by reportable
segment. Consequently, it is not practical to show this information.
Revenue by geographic region is
determined based on the location of the Companys direct customers or distributors for product sales and services. Patent
license revenue is considered United States revenue as payments are for licenses for United States operations irrespective of
the location of the licensees home domicile.
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
United States | |
| | | |
| 1,078,500 | | |
| 693,500 | | |
| 2,051,034 | |
International | |
| | | |
| 42,995 | | |
| 16,031 | | |
| 147,711 | |
Total revenue | |
| | | |
| 1,121,495 | | |
| 709,531 | | |
| 2,198,745 | |
Revenues from three licensees
comprised 25%, 21% and 14% of revenues for the nine months ended December 31, 2015, with no other licensee or customer accounting
for more than 10% of revenues. Revenues from one licensee comprised 16% of revenue for
the nine months ended December 31, 2014, with no other licensee or customer accounting for more than 10% of revenues.
Accounts receivable from one customer comprised 100% of net accounts receivable at December
31, 2015. Accounts receivable from three customers comprised 66%, 14%, and 11% of net accounts receivable at December 31, 2014.
|
X |
- DefinitionThe entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599
Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599
Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599
Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599
Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599
Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599
+ Details
Name: |
us-gaap_SegmentReportingDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_SegmentReportingMeasurementDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
10. COMMITMENTS AND CONTINGENCIES
|
9 Months Ended |
Dec. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] |
|
COMMITMENTS AND CONTINGENCIES |
Legal Matters
Intellectual Property Litigation
As of September 30, 2015, the
Company had settled or dismissed all complaints with respect to its Flash-R patent portfolio.
The Company commenced legal action
with regard to its Nunchi portfolio of patents in July 2014 and currently has seven active complaints in the U.S. District Court
for the Northern District of California and one in the U.S. District Court for the Southern District of California. In December
2015, the United States Patent Trial and Appeal Board (PTAB) granted a defendants petition for Inter Partes Review (IPR)
of the asserted patents. An IPR is a procedure for challenging the validity of a United States patent before the United States
Patent and Trademark Office (USPTO).
Commitment Related to Intellectual
Property Legal Services
In September 2012 the Company
engaged Handal and Associates (Handal) to provide IP legal services in connection with licensing and prosecuting
claims of infringement of the Companys flash memory patent portfolio. Pursuant to a partial contingent fee arrangement,
the Company is paying a monthly retainer fee of $30,000 to Handal creditable against future contingency recoveries. Handal has
agreed to advance related expenses excluding experts and prior art search firms. The Company has agreed to pay Handal a fee ranging
from 33-40% of any license fee or settlement related to patent enforcement matters, less prior retainers and expenses. The Company
may terminate the representation at any time but would be obligated to pay fees and advances.
The Company remains obligated
to pay contingency fees on certain future Flash-R royalty payments from previous matters handled by Duane Morris LLP.
Facility Lease
In January 2012, the Company entered
into a sixty-two month facility lease for its corporate office location, commencing May 1, 2012, for approximately 3,253 square
feet at 16870 West Bernardo Drive, Suite 120, San Diego, California. The aggregate monthly payment is $6,831 excluding utilities
and costs. The aggregate payments adjust annually with maximum payments increasing to $7,157 in the forty-ninth through sixty-second
months. Future lease commitments at December 31, 2015 total $127,518. The Company recognizes rent expense by the straight-line
method over the lease term. As of December 31, 2015, deferred rent totaled $20,656.
Concentration of Credit Risk
and Sources of Supply
Financial instruments that potentially
subject the Company to concentration of credit risk consist principally of cash and cash equivalents and trade receivables. The
Company maintains cash and cash equivalent accounts with Federal Deposit Insurance Corporation (FDIC) insured financial
institutions. Certain of the Companys accounts are each insured up to $250,000 by the FDIC. The Companys exposure
for amounts in excess of FDIC insured limits at December 31, 2015 was approximately $851,000. The Company has not experienced
any losses in such accounts. The Company does not believe that it is subject to any unusual financial risk beyond the normal risk
associated with commercial banking relationships. The Company performs periodic evaluations of the relative credit standing of
these financial institutions. The Company has not experienced any significant losses on its cash equivalents.
Concentrations of credit risk
with respect to trade accounts receivable are limited due to the number and nature of customers comprising the Companys
customer base and their geographic dispersion. The Company has not incurred any significant credit related losses.
The Company relies on one legal
firm to represent it in patent licensing and enforcement matters.
Guarantees and Indemnifications
The Company enters into standard
indemnification agreements in the ordinary course of business. Some of the Companys product sales and services agreements
include a limited indemnification provision for claims from third parties relating to the Companys intellectual property.
Such indemnification provisions are accounted for in accordance with ASC 450, Contingencies. The indemnification is generally
limited to the amount paid by the customer. To date, there have been no claims under such indemnification provisions.
Employee Benefit 401K
Plan
In September 2012, the Company
adopted a defined contribution plan (401(k)) covering its employees. Matching contributions are made on behalf of all participants,
according to the Safe Harbor provision. The Company matches 100% (dollar for dollar) on deferrals of up to 4% of employee compensation
deferred. As of December 31, 2015, the Company made matching contributions totaling $7,522.
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for commitments and contingencies.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
11. INCOME TAXES
|
9 Months Ended |
Dec. 31, 2015 |
Income Tax Disclosure [Abstract] |
|
INCOME TAXES |
11. INCOME TAXES
There is no provision for income
taxes for the nine months ended December 31, 2015 as the Company currently estimates its effective tax rate to be zero due to
uncertainty of income in future interim quarters of the current year and due to net operating loss carryforwards.
For the nine months ended December
31, 2014, the provision for income taxes consisted of $31,350 of foreign withholding taxes on payments in connection with a patent
license agreement. Excluding the impact of foreign withholding taxes, the current year annual effective tax rate is estimated
to be zero due to the anticipated utilization of available net operating loss (NOL) carryforwards to reduce U.S.
taxable income.
At December 31, 2015 and 2014,
the Company had deferred tax assets associated with federal net operating losses (NOLs), related state NOLs, foreign
tax credits and certain Federal and California research and development tax credits, but recorded a corresponding full valuation
allowance as it is more likely than not that some portion or all of the deferred tax assets will not be realized.
The Company records a liability
for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December
31, 2015, the Company has no liabilities for uncertain tax positions.
|
X |
- DefinitionThe entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319
+ Details
Name: |
us-gaap_IncomeTaxDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
3. INCOME (LOSS) PER SHARE (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Earnings Per Share [Abstract] |
|
Computation of basic and diluted earnings per share |
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
| |
| | | |
| | | |
| | | |
| | |
Net income (loss) | |
$ | (363,869 | ) | |
$ | 275,741 | | |
$ | (838,526 | ) | |
$ | 133,324 | |
Weighted average common shares - basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Basic income (loss) per common share | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Diluted | |
| | | |
| | | |
| | | |
| | |
Net income (loss) | |
$ | (363,869 | ) | |
$ | 275,741 | | |
$ | (838,526 | ) | |
$ | 133,324 | |
| |
| | | |
| | | |
| | | |
| | |
Weighted average common shares - basic | |
| 293,678,330 | | |
| 293,328,330 | | |
| 293,564,512 | | |
| 293,328,330 | |
Effect of dilutive common shares | |
| | | |
| 835,944 | | |
| | | |
| 806,988 | |
Weighted average common shares - diluted | |
| 293,678,330 | | |
| 294,164,274 | | |
| 293,564,512 | | |
| 294,135,318 | |
Net income (loss) per common share - basic | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
Net income (loss) per common share - diluted | |
$ | (0.00 | ) | |
$ | 0.00 | | |
$ | (0.00 | ) | |
$ | 0.00 | |
| |
| | | |
| | | |
| | | |
| | |
Potentially dilutive securities
outstanding at period end excluded from diluted computation as they were antidilutive | |
| 4,500,000 | | |
| | | |
| 4,500,000 | | |
| | |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
5. INVENTORIES (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Inventory Disclosure [Abstract] |
|
Inventories |
| |
December 31, | | |
March 31, | |
| |
2015 | | |
2015 | |
| |
$ | | |
$ | |
Raw materials | |
| 18,794 | | |
| 37,559 | |
Work in process | |
| | | |
| 12,842 | |
Finished goods | |
| 26,401 | | |
| 29,512 | |
| |
| 45,195 | | |
| 79,913 | |
Reserve for obsolescence | |
| (45,195 | ) | |
| (79,913 | ) |
| |
| | | |
| | |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of inventories not expected to be converted to cash, sold or exchanged within the normal operating cycle including inventoried costs relating to long-term contracts or programs.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 2 -Paragraph 6 -Subparagraph a,b,c -Article 5
+ Details
Name: |
us-gaap_ScheduleOfInventoryNoncurrentTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
6. STOCK-BASED COMPENSATION COSTS (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] |
|
Stock-based compensation expense |
| |
Three Months Ended | | |
Nine Months Ended | |
| |
December
31, | | |
December
31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
Research and development | |
| 2,782 | | |
| 2,547 | | |
| 13,270 | | |
| 7,641 | |
Selling and administrative | |
| 4,358 | | |
| 9,982 | | |
| 54,691 | | |
| 29,946 | |
Total stock-based compensation expense | |
| 7,140 | | |
| 12,529 | | |
| 67,961 | | |
| 37,587 | |
|
X |
- References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the changes in other outstanding share-based compensation awards other than stock options or nonvested awards.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ScheduleOfOtherShareBasedCompensationActivityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
7. STOCKHOLDERS' EQUITY (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Stockholders' equity |
|
Summary of stockholders' equity transactions |
| |
Common stock | | |
Additional paid-in | | |
Accumulated | | |
total stockholders | |
| |
Shares | | |
Amount | | |
capital | | |
deficit | | |
equity | |
| |
| | |
$ | | |
$ | | |
$ | | |
$ | |
Balance, April 1, 2015 | |
| 293,378,330 | | |
| 293,378 | | |
| 82,931,048 | | |
| (81,507,526 | ) | |
| 1,716,900 | |
Stock-based compensation | |
| | | |
| | | |
| 67,961 | | |
| | | |
| 67,961 | |
Shares issued on exercise of stock
options | |
| 300,000 | | |
| 300 | | |
| 6,300 | | |
| | | |
| 6,600 | |
Net income for the period | |
| | | |
| | | |
| | | |
| (838,526 | ) | |
| (838,526 | ) |
Balance, December 31,
2015 | |
| 293,678,330 | | |
| 293,678 | | |
| 83,005,309 | | |
| (82,346,052 | ) | |
| 952,935 | |
|
Stock option activity table |
| | |
| | |
Weighted average | | |
Aggregate | |
| | |
Shares | | |
exercise price | | |
Intrinsic Value | |
| | | |
# | | |
$ | | |
$ | |
| Outstanding
April 1, 2015 | | |
| 5,948,578 | | |
| 0.0670 | | |
| | |
| Granted | | |
| | | |
| | | |
| | |
| Exercised | | |
| (300,000 | ) | |
| 0.0220 | | |
| | |
| Canceled/expired | | |
| (1,148,578 | ) | |
| 0.027 | | |
| | |
| Outstanding
December 31, 2015 | | |
| 4,500,000 | | |
| 0.0799 | | |
$ | | |
| Exercisable
at December 31, 2015 | | |
| 3,480,000 | | |
| 0.0711 | | |
$ | | |
|
X |
- DefinitionTabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of changes in the separate accounts comprising stockholders' equity (in addition to retained earnings) and of the changes in the number of shares of equity securities during at least the most recent annual fiscal period and any subsequent interim period presented is required to make the financial statements sufficiently informative if both financial position and results of operations are presented.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
+ Details
Name: |
us-gaap_ScheduleOfStockholdersEquityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
9. SEGMENT INFORMATION (Tables)
|
9 Months Ended |
Dec. 31, 2015 |
Segment Reporting, Measurement Disclosures [Abstract] |
|
Reportable segment information |
|
|
|
For the three months ended |
|
For the nine months ended |
|
|
|
December 31, |
|
December 31, |
|
|
|
2015 |
2014 |
2015 |
2014 |
|
|
|
$ |
$ |
$ |
$ |
SEGMENT REVENUES: |
|
|
|
|
|
|
|
|
Products and services |
|
|
|
42,995 |
|
16,031 |
|
147,711 |
Patent licensing |
|
|
|
1,078,500 |
|
693,500 |
|
2,051,034 |
|
Total
revenue |
|
|
|
1,121,495 |
|
709,531 |
|
2,198,745 |
|
|
|
|
|
|
|
|
|
|
SEGMENT COST OF REVENUES: |
|
|
|
|
|
|
|
|
Products and services |
|
|
|
79,322 |
|
8,256 |
|
238,729 |
Patent licensing and litigation costs |
|
112,500 |
|
117,185 |
|
337,500 |
|
342,774 |
Contingent legal fees and expenses |
|
5,261 |
|
338,630 |
|
292,156 |
|
642,006 |
|
Total cost of revenues |
|
117,761 |
|
535,137 |
|
637,912 |
|
1,223,509 |
|
|
|
|
|
|
|
|
|
|
RECONCILIATION: |
|
|
|
|
|
|
|
|
Segment income (loss) before corporate costs |
(117,761) |
|
586,358 |
|
71,619 |
|
975,236 |
Other corporate operating costs |
|
246,908 |
|
279,267 |
|
910,945 |
|
810,562 |
Other income (expense) |
|
800 |
|
|
|
800 |
|
|
|
Operating income (loss) before provision for income
taxes |
|
(363,869) |
|
307,091 |
|
(838,526) |
|
164,674 |
|
Revenue by geographic region |
| |
For the three months ended | | |
For the nine months ended | |
| |
December 31, | | |
December 31, | |
| |
2015 | | |
2014 | | |
2015 | | |
2014 | |
| |
$ | | |
$ | | |
$ | | |
$ | |
United States | |
| | | |
| 1,078,500 | | |
| 693,500 | | |
| 2,051,034 | |
International | |
| | | |
| 42,995 | | |
| 16,031 | | |
| 147,711 | |
Total revenue | |
| | | |
| 1,121,495 | | |
| 709,531 | | |
| 2,198,745 | |
|
X |
- DefinitionTabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599
+ Details
Name: |
us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599
+ Details
Name: |
us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
nonnum:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_SegmentReportingMeasurementDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
3. INCOME (LOSS) PER SHARE (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Earnings Per Share [Abstract] |
|
|
|
|
Net income (loss) |
$ (363,869)
|
$ 275,741
|
$ (838,526)
|
$ 133,324
|
Weighted average common shares - basic |
293,678,330
|
293,328,330
|
293,564,512
|
293,328,330
|
Basic income (loss) per common share |
$ (0.00)
|
$ 0.00
|
$ (0.00)
|
$ 0.00
|
Diluted |
|
|
|
|
Net income (loss) |
$ (363,869)
|
$ 275,741
|
$ (838,526)
|
$ 133,324
|
Weighted average common shares - basic |
293,678,330
|
293,328,330
|
293,564,512
|
293,328,330
|
Effect of dilutive common shares |
0
|
835,944
|
0
|
806,988
|
Weighted average common shares - diluted |
293,678,330
|
294,164,274
|
293,564,512
|
294,135,318
|
Net income (loss) per common share - basic |
$ (0.00)
|
$ 0.00
|
$ (0.00)
|
$ 0.00
|
Net income (loss) per common share - diluted |
$ (0.00)
|
$ 0.00
|
$ (0.00)
|
$ 0.00
|
Potentially dilutive securities outstanding at period end excluded from diluted computation as they were antidilutive |
4,500,000
|
0
|
4,500,000
|
0
|
X |
- DefinitionSecurities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Antidilution -URI http://asc.fasb.org/extlink&oid=6505113
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Diluted Earnings Per Share -URI http://asc.fasb.org/extlink&oid=6510752
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Contingent Stock Agreement -URI http://asc.fasb.org/extlink&oid=6508534
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04.23) -URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9
+ Details
Name: |
us-gaap_EarningsPerShareBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 18 -Article 7
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 20 -Article 5
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 21 -Article 9
+ Details
Name: |
us-gaap_EarningsPerShareDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareDilutedAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1505-109256
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
+ Details
Name: |
us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1448-109256
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Weighted-Average Number of Common Shares Outstanding -URI http://asc.fasb.org/extlink&oid=6528421
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
5. INVENTORIES (Details) - USD ($)
|
Dec. 31, 2015 |
Mar. 31, 2015 |
Inventory Disclosure [Abstract] |
|
|
Raw materials |
$ 18,794
|
$ 37,559
|
Work in process |
0
|
12,842
|
Finished goods |
26,401
|
29,512
|
Total Current Inventory |
45,195
|
79,913
|
Reserve for obsolescence |
(45,195)
|
(79,913)
|
Inventory, net |
$ 0
|
$ 0
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_InventoryFinishedGoods |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionGross amount, as of the balance sheet date, of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_InventoryGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51655945&loc=d3e3927-108312
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 45 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount before valuation and LIFO reserves of raw materials expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)(4)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_InventoryRawMaterials |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of valuation reserve for inventory.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.BB) -URI http://asc.fasb.org/extlink&oid=27011343&loc=d3e100047-122729
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-09) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24092-122690
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=51655945&loc=d3e3927-108312
+ Details
Name: |
us-gaap_InventoryValuationReserves |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount before valuation and LIFO reserves of merchandise or goods in the production process expected to be completed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(a)(3)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_InventoryWorkInProcess |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.3.1.900
X |
- DefinitionCertain changes made in the current period to the value and amount of inventory reported.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28360613&loc=d3e4492-108314
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.6(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_InventoryAdjustments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
6. STOCK-BASED COMPENSATION COSTS (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Total stock-based compensation expense |
$ 7,140
|
$ 12,529
|
$ 67,961
|
$ 37,587
|
Research and Development Expense [Member] |
|
|
|
|
Total stock-based compensation expense |
2,782
|
2,547
|
13,270
|
7,641
|
Selling and Administrative Expenses [Member] |
|
|
|
|
Total stock-based compensation expense |
$ 4,358
|
$ 9,982
|
$ 54,691
|
$ 29,946
|
X |
- DefinitionRepresents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F
+ Details
Name: |
us-gaap_AllocatedShareBasedCompensationExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_IncomeStatementLocationAxis=us-gaap_ResearchAndDevelopmentExpenseMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_IncomeStatementLocationAxis=us-gaap_SellingGeneralAndAdministrativeExpensesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationAggregateDisclosuresAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionUnrecognized cost of unvested options awarded to employees as compensation.
+ References
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionGross number of share options (or share units) granted during the period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
7. STOCKHOLDERS EQUITY (Details) - USD ($)
|
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2015 |
Common Stock |
|
|
Beginning balance, shares |
|
293,378,330
|
Beginning balance, value |
|
$ 293,378
|
Shares issued on exercise of stock options, shares |
|
300,000
|
Shares issued on exercise of stock options, value |
|
$ 300
|
Ending balance, shares |
293,678,330
|
293,678,330
|
Ending balance, value |
$ 293,678
|
$ 293,678
|
Additional Paid-In Capital |
|
|
Beginning balance, value |
|
82,931,048
|
Stock-based compensation |
|
67,961
|
Shares issued on exercise of stock options, value |
|
6,300
|
Ending balance, value |
83,005,309
|
83,005,309
|
Accumulated Deficit |
|
|
Beginning balance, value |
|
(81,507,526)
|
Net income (loss) for the period |
|
(838,526)
|
Ending balance, value |
(82,346,052)
|
(82,346,052)
|
Beginning balance, value |
|
1,716,900
|
Stock-based compensation |
|
67,961
|
Shares issued on exercise of stock options, value |
|
6,600
|
Net income (loss) for the period |
(363,869)
|
(838,526)
|
Ending balance, value |
$ 952,935
|
$ 952,935
|
X |
- DefinitionThis element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 35 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415241&loc=d3e4534-113899
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 20 -Section 55 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=32706628&loc=d3e11149-113907
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 20 -Section 55 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=32706628&loc=d3e11178-113907
+ Details
Name: |
us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=51831255
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913
Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=51831270
Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5
Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares issued which are neither cancelled nor held in the treasury.
+ References
+ Details
Name: |
us-gaap_SharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionValue of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionTotal of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
7. STOCKHOLDERS' EQUITY (Details-Stock Option Activity) - USD ($)
|
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Shares |
|
|
Options Outstanding, beginning balance |
5,948,578
|
|
Granted |
0
|
0
|
Exercised |
(300,000)
|
|
Canceled/expired |
(1,148,578)
|
|
Outstanding, ending balance |
4,500,000
|
|
Exercisable |
3,480,000
|
|
Weighted average exercise price |
|
|
Options Outstanding, beginning balance |
$ .0670
|
|
Granted |
|
|
Exercised |
$ .0220
|
|
Canceled/expired |
.027
|
|
Outstanding, ending balance |
.0799
|
|
Exercisable |
$ .0711
|
|
Aggregate Intrinsic Value |
|
|
Outstanding, ending balance |
$ 0
|
|
Exercisable |
$ 0
|
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedIntrinsicValueRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionFor presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(3)-(4) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average price of options that were either forfeited or expired.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(3)-(4) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGross number of share options (or share units) granted during the period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionNumber of options outstanding, including both vested and non-vested options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i)-(ii) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionA roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of difference between fair value of the underlying shares reserved for issuance and exercise price of fully vested and expected to vest options that are exercisable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionWeighted average price at which option holders acquired shares when converting their stock options into shares.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average per share amount at which grantees can acquire shares of common stock by exercise of options.
+ References
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of share options (or share units) exercised during the current period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28,29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30 -Article 5
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.3.1.900
X |
- DefinitionThe grant-date intrinsic value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGrantDateIntrinsicValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe floor of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLowerRangeLimit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe ceiling of a customized range of exercise prices for purposes of disclosing shares potentially issuable under outstanding stock option awards on all stock option plans and other required information pertaining to awards in the customized range.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901
+ Details
Name: |
us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeUpperRangeLimit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionValue of outstanding derivative securities that permit the holder the right to purchase securities (usually equity) from the issuer at a specified price.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690
+ Details
Name: |
us-gaap_WarrantsAndRightsOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.3.1.900
9. SEGMENT INFORMATION (Details - Segment info) - USD ($)
|
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Total revenue |
$ 0
|
$ 1,121,495
|
$ 709,531
|
$ 2,198,745
|
Total cost of revenues |
117,761
|
535,137
|
637,912
|
1,223,509
|
Segment income (loss) before corporate costs |
(117,761)
|
586,358
|
71,619
|
975,236
|
Other corporate operating costs |
246,908
|
279,267
|
910,945
|
810,562
|
Other income (expense) |
800
|
0
|
800
|
0
|
Operating income (loss) before provision for income taxes |
(363,869)
|
307,091
|
(838,526)
|
164,674
|
Products And Services [Member] |
|
|
|
|
Total revenue |
0
|
42,995
|
16,031
|
147,711
|
Total cost of revenues |
0
|
79,322
|
8,256
|
238,729
|
Patent Licensing |
|
|
|
|
Total revenue |
0
|
1,078,500
|
693,500
|
2,051,034
|
Patent licensing and litigation costs |
|
|
|
|
Total cost of revenues |
112,500
|
117,185
|
337,500
|
342,774
|
Contingent Legal Fees [Member] |
|
|
|
|
Total cost of revenues |
$ 5,261
|
$ 338,630
|
$ 292,156
|
$ 642,006
|
X |
- DefinitionThe aggregate cost of goods produced and sold and services rendered during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_CostOfRevenue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1,2) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_GrossProfit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.3) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_OtherCostAndExpenseOperating |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_OtherNonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=51664549&loc=SL4569616-111683
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591552-111686
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591551-111686
+ Details
Name: |
us-gaap_ProfitLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_Revenues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_StatementBusinessSegmentsAxis=EDIG_ProductsAndServicesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementBusinessSegmentsAxis=EDIG_PatentLicensingMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementBusinessSegmentsAxis=EDIG_PatentLicensingAndLitigationCostsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementBusinessSegmentsAxis=EDIG_ContingentLegalFeesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
9. SEGMENT INFORMATION (Details - Revenue by Geographic Region) - USD ($)
|
3 Months Ended |
9 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Total revenue |
$ 0
|
$ 1,121,495
|
$ 709,531
|
$ 2,198,745
|
UNITED STATES |
|
|
|
|
Total revenue |
0
|
1,078,500
|
693,500
|
2,051,034
|
International |
|
|
|
|
Total revenue |
$ 0
|
$ 42,995
|
$ 16,031
|
$ 147,711
|
X |
- DefinitionAmount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688
+ Details
Name: |
us-gaap_Revenues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_StatementGeographicalAxis=country_US |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_StatementGeographicalAxis=EDIG_InternationalMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6351-108592
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13531-108611
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6404-108592
Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13537-108611
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
num:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=EDIG_Customer1Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=EDIG_Customer2Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_MajorCustomersAxis=EDIG_Customer3Member |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.3.1.900
X |
- References
+ Details
Name: |
EDIG_MonthlyRetainerFeeAgainstFutureContingencyRecoveries |
Namespace Prefix: |
EDIG_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionCarrying value as of the balance sheet date of obligations incurred through that date and payable for contractual rent under lease arrangements.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.15(5)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.15(5)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910
Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 15 -Subparagraph a -Article 7
+ Details
Name: |
us-gaap_AccruedRentCurrentAndNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionThe amount of cash as of the balance sheet date that is not insured by the Federal Deposit Insurance Corporation.
+ References
+ Details
Name: |
us-gaap_CashUninsuredAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_CommitmentsAndContingenciesDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe increase in the fair value of plan assets from contributions made by the employer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920
+ Details
Name: |
us-gaap_DefinedBenefitPlanContributionsByEmployer |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 3) -URI http://asc.fasb.org/extlink&oid=6584154&loc=d3e38371-112697
Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717
+ Details
Name: |
us-gaap_OperatingLeasesFutureMinimumPaymentsDue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.3.1.900
X |
- DefinitionThe current portion of the amount recognized for uncertain tax positions as of the balance sheet date.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682
+ Details
Name: |
us-gaap_LiabilityForUncertainTaxPositionsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|