Joint Venture

9 Months Ended

Dec. 31, 2018

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Joint Venture

The Company and its joint venture partner, a Hong Kong corporation, each owns a 50% interest in the Hong Kong joint venture that manufactures security products in its facilities located in the People’s Republic of China. There are no material differences between US-GAAP and the basis of accounting used by the Hong Kong Joint Venture. The following represents summarized balance sheet and income statement information of the Hong Kong Joint Venture as of and for the nine months ended December 31, 2018 and 2017:

	2018 (Unaudited)			2017 (Unaudited)
Net sales	$	11,175,101		$	10,169,231
Gross profit		1,536,150			1,580,652
Net loss		(1,175,720	)		(1,561,216	)
Total current assets		14,382,102			12,794,028
Total assets		20,699,448			23,473,281
Total current liabilities		2,759,398			2,287,795
Total liabilities		3,148,268			2,655,138

During the nine months ended December 31, 2018 and 2017 the Company purchased $9,316,375 and $7,179,110, respectively, of products directly from the Hong Kong Joint Venture for resale. For the nine months ended December 31, 2018 the Company has decreased its investment in the Joint Venture to reflect an increase of $176,337 in inter-Company profit on purchases held by the Company in inventory. For the nine months ended December 31, 2017 the Company has decreased its investment in the net earnings of the Joint Venture to reflect an increase of $74,218 in inter-company profit on purchases held by the Company in inventory.