CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

12 Months Ended

Mar. 31, 2013

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

NOTE 14 - CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

We maintain bank account balances, which, at times, may exceed insured limits. We have not experienced any losses with these accounts and believes that it is not exposed to any significant credit risk on cash. At March 31, 2013, there were accounts receivable balances outstanding from three customers comprising 88% 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:

	March 31, 2013				March 31, 2012
Customer	Dollars		Percent		Dollars		Percent
A	$	2,379,078	55	%	$	17,494	—	%
B	$	915,632	21	%	$	26,972	1	%
C	$	516,174	12	%	$	—	—	%
D	$	—	—	%	$	1,160,957	24	%
E	$	—	—	%	$	726,908	15	%
F	$	10,919	—	%	$	561,927	11	%

We have 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, 2013				March 31, 2012
Customer	Dollars		Percent		Dollars		Percent
A	$	7,665,775	24	%	$	333,346	1	%
B	$	6,086,928	19	%	$	17,494	—	%
C	$	4,800,047	15	%	$	3,388,386	10	%
D	$	2,765,777	8	%	$	11,307,100	34	%