INCOME TAXES	3 Months Ended
Jun. 30, 2016
INCOME TAXES
INCOME TAXES	NOTE 10 — INCOME TAXES We account for income taxes under the provisions of FASB ASC 740, Income Taxes. At the end of each interim period, we make an estimate of our annual expected effective tax rates in both the United States and China. For the three months ended June 30, 2016, we recorded tax expense of $9,453 in connection with an accrual for alternative minimum tax due on taxable income in excess of net operating losses. A valuation allowance must be established for deferred tax assets when it is more likely than not that they will not be realized. The assessment was based on the weight of negative evidence at the balance sheet date, including our recent operating losses and unsettled circumstances that, if unfavorably resolved, would adversely affect future operations and profit levels. We have determined that it is more likely than not that certain future tax benefits may not be realized. A change in the estimates used to make this determination could require an increase in deferred tax assets if they become realizable.

INCOME TAXES

3 Months Ended

Jun. 30, 2016

NOTE 10 — INCOME TAXES

We account for income taxes under the provisions of FASB ASC 740, Income Taxes. At the end of each interim period, we make an estimate of our annual expected effective tax rates in both the United States and China. For the three months ended June 30, 2016, we recorded tax expense of $9,453 in connection with an accrual for alternative minimum tax due on taxable income in excess of net operating losses.

A valuation allowance must be established for deferred tax assets when it is more likely than not that they will not be realized. The assessment was based on the weight of negative evidence at the balance sheet date, including our recent operating losses and unsettled circumstances that, if unfavorably resolved, would adversely affect future operations and profit levels. We have determined that it is more likely than not that certain future tax benefits may not be realized. A change in the estimates used to make this determination could require an increase in deferred tax assets if they become realizable.