CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

3 Months Ended

Jun. 30, 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 June 30, 2012, there were accounts receivable balances outstanding from three customers comprising 84% of the total receivables balance; the largest balance from a single customer represented 61% of our receivables balance, while the smallest balance from a single customer making up this group was 9%.

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:

	June 30, 2012				March 31, 2012
Customer	Dollars		Percent		Dollars		Percent
A	$	3,073,454	61	%	$	1,160,957	24	%
B	$	462,266	9	%	$	726,908	15	%
C	$	728,429	14	%	$	561,927	11	%

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 periods ended:

	June 30, 2012				June 30, 2011
Customer	Dollars		Percent		Dollars		Percent
A	$	2,030,235	28	%	$	—	—	%
B	$	997,684	14	%	$	1,133,675	12	%
C	$	846,103	12	%	$	—	—	%
D	$	398,291	6	%	$	4,442,295	48	%