Annual report pursuant to section 13 and 15(d)

Consolidated Statements of Operations

v2.4.0.6
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Net revenues $ 7,230 $ 9,186
Cost of revenues    
License fees 2,643 2,915
Other direct cost of revenues 230 295
Total cost of revenues 2,873 3,210
Gross profit 4,357 5,976
Operating expenses    
Product development 2,154 3,528
Sales and marketing 873 2,142
General and administrative 13,013 5,698
Amortization of intangible assets   54
Impairment of intangible assets 2,319 4,482
Impairment of goodwill 2,969 1,546
Total operating expenses 21,328 17,450
Loss from operations (16,971) (11,474)
Interest and other income / (expense)    
Interest income/ (expense) (12,497) (1,761)
Foreign exchange transaction gain / (loss) (94) (83)
Change in fair value of accrued derivative liabilities gain / (loss) (4,447)  
Loss on extinguishment of debt 2,004  
Gain / (loss) on settlement of debt 1,393 (864)
Other income / (expense) 15 (2)
Interest and other expense (13,626) (2,710)
Loss from operations before income taxes (30,597) (14,184)
Income tax provision (110) (224)
Net loss from continuing operations, net of taxes (30,707) (14,408)
Discontinued operations, net of taxes:    
Income from discontinued operations, net of taxes   809
Gain on disposal of discontinued operations, net of taxes   4,215
Net income from discontinued operations, net of taxes   5,024
Net (loss)/profit income (30,707) (9,384)
Other comprehensive (loss) / income:    
Foreign currency translation adjustment 97 128
Comprehensive (loss) / income $ (30,610) $ (9,256)
Basic and diluted net income / (loss) per common share $ (0.62) $ (0.25)
Continuing operations $ (0.62) $ (0.38)
Discontinued operations   $ 0.13
Weighted average common shares outstanding, basic and diluted 49,418 37,664
Weighted average common shares outstanding, diluted 49,418 37,664