Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v2.4.0.6
Condensed Consolidated Balance Sheets (Unaudited) (USD $)
Dec. 31, 2011
Mar. 31, 2011
CURRENT ASSETS    
Cash and cash equivalents $ 5,755,268 $ 426,045
Promissory notes receivable 220,875 154,725
Prepaid expenses and other assets, net 43,234 74,041
Restricted cash 36,001,190 0
Current assets from discontinued operations 0 18,270,599
Total current assets 42,020,567 18,925,410
LONG TERM ASSETS    
Other fixed assets, net 243,263 162,488
Convertible notes issue costs 0 738,062
Long term assets from discontinued operations 0 300,708,406
Total long term assets 243,263 301,608,956
TOTAL ASSETS 42,263,830 320,534,366
CURRENT LIABILITIES    
Accounts payable 322,850 767,489
Accrued coupon payment 0 1,430,108
Taxes payable, accrued liabilities and other payables 178,840 317,968
Deferred consulting and distribution payments 20,016,556 0
Current liabilities from discontinued operations 0 27,587,087
Total current liabilities 20,518,246 30,102,652
LONG TERM LIABILITIES    
Convertible notes issued, net 0 61,703,728
Deferred taxes 0 3,977,385
Long term liabilities from discontinued operations 0 6,137,742
Total long term liabilities 0 71,818,855
COMMITMENTS AND CONTINGENCIES 0 0
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 shares outstanding 55,788 55,788
Additional paid in capital 106,099,585 164,118,640
Retained earnings (accumulated deficit) (84,409,789) 54,438,431
Total shareholders' equity 21,745,584 218,612,859
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 42,263,830 $ 320,534,366