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Insurance Receivable
6 Months Ended
Sep. 30, 2012
Insurance [Abstract]  
Insurance Disclosure [Text Block]

Insurance Receivable

 

In June 2012, a railroad shipping accident resulted in the total loss of one shipping container of the Company’s products. The Company has submitted a claim to its insurance carrier for the selling price of the goods lost. At June 30, 2012, the Company relieved inventory and recorded an insurance receivable for the cost of the goods lost. Other income of $64,224 was recorded during the quarter ended September 30, 2012 to reflect the amount received from the insurance carrier in excess of the insurance receivable previously recorded. This amount represents a portion of the realized profit on lost sales of approximately $400,000 and is recorded as Other Income in the condensed consolidated statements of operations.