Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

v2.4.0.8
BALANCE SHEETS (USD $)
Mar. 31, 2014
Mar. 31, 2013
CURRENT ASSETS    
Cash and cash equivalents $ 8,587,245 $ 10,463,531
Total current assets 8,587,245 10,463,531
LONG TERM ASSETS    
Other fixed assets, net 0 98,356
Total long term assets 0 98,356
TOTAL ASSETS 8,587,245 10,561,887
CURRENT LIABILITIES    
Accounts payable 66,177 373,202
Taxes payable, accrued liabilities and other payables 0 22,568
Deferred distribution payments 8,540,365 8,613,665
Total current liabilities 8,606,542 9,009,435
SHAREHOLDERS' EQUITY    
Preferred stock - $0.001 par value; 20,000,000 shares authorized; no shares issued or outstanding 0 0
Common stock - $0.001 par value; 500,000,000 shares authorized; 55,787,554 and 55,787,554 shares outstanding, respectively 55,788 55,788
Additional paid in capital 89,363,319 89,363,319
Accumulated deficit (89,438,404) (87,866,655)
Total shareholders' equity/ deficit (19,297) 1,552,452
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY/ DEFICIT $ 8,587,245 $ 10,561,887