Note 3 - Notes Payable, Lines of Credit & Capital Lease	9 Months Ended
Dec. 31, 2013
Notes
Note 3 - Notes Payable, Lines of Credit & Capital Lease	NOTE 3 - NOTES PAYABLE, LINES OF CREDIT & CAPITAL LEASE Lines of Credit with Banks As of December 31, 2013, the Company had entered into four revolving lines of credit with four banks. The related lines of credit bear interest at annual rates from 13% to 19%. Advances on the line of credit are due one year or sooner from the date of the advance and are collateralized by certain properties and equipments, inventories, sales contracts and personal guarantees of the owners. The outstanding balance due under the line of credit was $45,229 and $46,968 as of December 31, 2013 and March 31, 2013, respectively. The amounts have been classified as short-term lines of credit payable in the accompanying balance sheets. As of December 31, 2013 and March 31, 2013, the Company has withdrawn up to the maximum limits on the lines. Factoring Agreement During the year ended March 31, 2013, the Company entered into a factoring agreement for financing purposes with the transfer of certain accounts receivable with recourse provision. The agreement qualifies as a secured borrowing with collateral the guidelines of ASC 860, Transfers and Servicing. The loans obtained under the agreement bear interest at annual of 18%. The assets pledged under the agreement are presented separately on the balance sheet as Accounts receivable pledged as security to creditors. As of December 31, 2013, the assets pledged and the related liabilities were $0 and $0, respectively. As of March 31, 2013, the assets pledged and the related liabilities were $1,843 and $2,026, respectively. Capital Vario Notes Payable In connection with the acquisition of Geo Point, the Company assumed third party notes payable of $500 and $403 and accrued interest on such notes. The notes accrue interest at 30% per annum and were in default at the time of acquisition. At December 31, 2013, the Company has accrued interest of approximately $726 included in interest payable. The notes are denominated in United States dollars. Translation gains and losses are immaterial to the consolidated financial statements and have not been recognized. Capital Vario Revolving Line of Credit In connection with the acquisition of Geo Point, the Company assumed a third party line of credit with the note payable holder described above. Under the terms of the line of credit, the Company was allowed to initially borrow up to a maximum of $50 accruing interest daily at a rate of 24% per annum and was due six months from issuance. As of December 31, 2013, the balance of the line of credit was $489, with no amounts available. As of December 31, 2013, the line of credit is in default, however, no demands for payment have been made by the holder. Accrued interest as of December 31, 2013, and 2012 was $82. Capital Lease In connection with the acquisition of Geo Point, the Company assumed a capital lease payable to a bank. The lease was used to purchase the primary refining equipment for Geo Point's refining facility. At the date of acquisition, the lease incurred interest at 19% per annum and was in default due to non-payment. Thus, the Company has recorded the entire liability as current on the accompanying consolidated balance sheet at December 31, 2013. The Company is currently attempting to renegotiate the lease and/or obtain an extension. There are no guarantees that an acceptable agreement can be reached. At December 31, 2013, the balance due on the capital lease including accrued interest and penalties was $625.

Note 3 - Notes Payable, Lines of Credit & Capital Lease

9 Months Ended

Dec. 31, 2013

Note 3 - Notes Payable, Lines of Credit & Capital Lease

NOTE 3 - NOTES PAYABLE, LINES OF CREDIT & CAPITAL LEASE

Lines of Credit with Banks

As of December 31, 2013, the Company had entered into four revolving lines of credit with four banks. The related lines of credit bear interest at annual rates from 13% to 19%. Advances on the line of credit are due one year or sooner from the date of the advance and are collateralized by certain properties and equipments, inventories, sales contracts and personal guarantees of the owners. The outstanding balance due under the line of credit was $45,229 and $46,968 as of December 31, 2013 and March 31, 2013, respectively. The amounts have been classified as short-term lines of credit payable in the accompanying balance sheets. As of December 31, 2013 and March 31, 2013, the Company has withdrawn up to the maximum limits on the lines.

Factoring Agreement

During the year ended March 31, 2013, the Company entered into a factoring agreement for financing purposes with the transfer of certain accounts receivable with recourse provision. The agreement qualifies as a secured borrowing with collateral the guidelines of ASC 860, Transfers and Servicing. The loans obtained under the agreement bear interest at annual of 18%. The assets pledged under the agreement are presented separately on the balance sheet as Accounts receivable pledged as security to creditors. As of December 31, 2013, the assets pledged and the related liabilities were $0 and $0, respectively. As of March 31, 2013, the assets pledged and the related liabilities were $1,843 and $2,026, respectively.

Capital Vario Notes Payable

In connection with the acquisition of Geo Point, the Company assumed third party notes payable of $500 and $403 and accrued interest on such notes. The notes accrue interest at 30% per annum and were in default at the time of acquisition. At December 31, 2013, the Company has accrued interest of approximately $726 included in interest payable. The notes are denominated in United States dollars. Translation gains and losses are immaterial to the consolidated financial statements and have not been recognized.

Capital Vario Revolving Line of Credit

In connection with the acquisition of Geo Point, the Company assumed a third party line of credit with the note payable holder described above. Under the terms of the line of credit, the Company was allowed to initially borrow up to a maximum of $50 accruing interest daily at a rate of 24% per annum and was due six months from issuance. As of December 31, 2013, the balance of the line of credit was $489, with no amounts available. As of December 31, 2013, the line of credit is in default, however, no demands for payment have been made by the holder. Accrued interest as of December 31, 2013, and 2012 was $82.

Capital Lease

In connection with the acquisition of Geo Point, the Company assumed a capital lease payable to a bank. The lease was used to purchase the primary refining equipment for Geo Point's refining facility. At the date of acquisition, the lease incurred interest at 19% per annum and was in default due to non-payment. Thus, the Company has recorded the entire liability as current on the accompanying consolidated balance sheet at December 31, 2013. The Company is currently attempting to renegotiate the lease and/or obtain an extension. There are no guarantees that an acceptable agreement can be reached. At December 31, 2013, the balance due on the capital lease including accrued interest and penalties was $625.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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