SHORT TERM LOAN

12 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

4.   SHORT TERM LOAN

Effective December 3, 2012, the Company entered into a Loan Agreement (the “Loan Agreement”) with BNP Paribas Fortis Bank, a Belgian Bank, pursuant to which the Company borrowed $132,820 (€100.000). The loan bears interest of 3.68% per annum and is repayable in 24 equal monthly installments of € 4,331 ($5,154 at the closing rate of December 31, 2014). No additional guaranties (see note 13) secured debt agreements (2)) were required. As of December 17, 2014 the loan was fully repaid.