CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

12 Months Ended

Mar. 31, 2012

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

NOTE 14 - 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 March 31, 2012, there were accounts receivable balances outstanding from four customers comprising 59% of the total receivables balance; the largest balance from a single customer represented 24% of our receivables balance, while the smallest balance from a single customer making up this group was 6%.

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:

	March 31, 2012				March 31, 2011
Customer	Dollars		Percent		Dollars		Percent
A	$	1,160,957	24	%	$	455,337	7	%
B	$	726,908	15	%	$	—	—	%
C	$	322,828	6	%	$	624,765	10	%
D	$	561,927	11	%	$	3,563,951	54	%

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 for the fiscal year ended:

	March 31, 2012				March 31, 2011
Customer	Dollars		Percent		Dollars		Percent
A	$	11,307,100	34	%	$	17,762,747	54	%
B	$	3,388,386	10	%	$	1,816,597	6	%
C	$	2,981,044	9	%	$	4,876,435	15	%