Note 7 - Significant Risks and Uncertainties

3 Months Ended

Sep. 30, 2011

Concentration Risk Disclosure [Text Block]

Note 7. Significant Risks and Uncertainties

(a) Major Customers. For the three months ended September 30, 2011, approximately 80% of total net sales were derived from one customer as compared to approximately 87% of total net sales derived from two customers in the three months ended September 30, 2010. Accounts receivable as of September 30, 2011 from this customer represented approximately 39% of total accounts receivable. The loss of this customer would have an adverse affect on the Company’s operations. Major customers are those customers who account for more than 10% of net sales.

(b) Other Business Risks. Approximately 56% the Company’s employees, located in its New Jersey facility, are covered by a union contract. The contract was renewed in August 2010 for an additional one year term and was extended in August 2011 to December 31, 2011.