BBB + kernel v3.16 + power consumption & states

[tboy32]

I have a BBB running the v3.16 kernel. It draws approximately 200mA at idle, and 240mA after a poweroff command has completed. Holding the power button for 8 seconds will put the BBB into a sleep state where it draws less than 1mA. I tried doing a echo mem > /sys/power/state which returned "Invalid argument". I realize that would leave the memory powered, but it would still consume less power than the entire system.

Is there a way to programmatically put the BBB into the same state as holding the power button for 8 seconds? I'd like to avoid the complication of adding a separate microcontroller to handle power management of the power management IC, or equivalent solution. Thanks.