CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

9 Months Ended

Dec. 31, 2011

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

NOTE 13 – CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

The Company maintains bank account balances, which, at times, may exceed insured limits.  The Company has not experienced any losses with these accounts and believes that it is not exposed to any significant credit risk on cash.

At December 31, 2011, there were receivable balances outstanding from three customers comprising 64% of the total receivables balance. The following table sets forth information as to accounts receivable from customers who accounted for more than 10% of our accounts receivable balance as of:

	December 31, 2011				March 31, 2011
Customer	Dollars		Percent		Dollars		Percent
A	$	1,836,500	33	%	$	3,554,574	64	%
B	$	1,109,959	20	%	$	—	—	%
C	$	613,368	11	%	$	—	—	%
D	$	—	—	%	$	624,765	11	%
E	$	—	—	%	$	455,337	8	%

The Company has been dependent in each year on a small number of customers who generate a significant portion of our business, and these customers change from year to year.  The following table sets forth information as to net sales from customers who accounted for more than 10% of our revenue in the nine months ended:

	December 31, 2011				December 31, 2010
Customer	Dollars		Percent		Dollars		Percent
A	$	10,046,139	37	%	$	13,451,393	60	%
B	$	2,777,631	10	%	$	—	—	%
C	$	—	—	%	$	4,211,343	17	%