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CONCENTRATIONS AND CREDIT RISK
9 Months Ended 12 Months Ended
Dec. 31, 2012
Mar. 31, 2012
CONCENTRATIONS AND CREDIT RISK [Abstract]    
CONCENTRATIONS AND CREDIT RISK

NOTE 15 - CONCENTRATIONS AND CREDIT RISK

 

CREDIT RISK

 

Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents.

 

As of December 31, 2012, substantially all of the Company's cash and cash equivalents were held by major financial institutions, and the balance at certain accounts exceeded the maximum amount insured by the Federal Deposits Insurance Corporation ("FDIC"). However, the Company has not experienced losses on these accounts and management believes that the Company is not exposed to significant risks on such accounts.

 

CUSTOMERS AND CREDIT CONCENTRATIONS

 

One (1) customer accounted for all of the sales for the interim period ended December 31, 2012 and accounts receivable balances at December 31, 2012. A reduction in sales from or loss of such customer would have a material adverse effect on the Company's results of operations and financial condition.

 

VENDORS AND ACCOUNTS PAYABLE CONCENTRATIONS

 

Vendor purchase concentrations and accounts payable concentration are as follows:

 

    Accounts Payable at     Net Purchases  
                      For the  
                      Period from  
                For the     April 11, 2011  
                Interim Period     (inception)  
                Ended     through  
    December 31,     March 31,     December 31,     December 31,  
    2012     2012     2012     2011  
Growers Synergy Pte. Ltd. - related party     42.5 %     16.4 %     49.8 %     - %
tevia Ventures Corporation     3.7 %     54.1 %     10.3 %     - %
      46.2 %     70.5 %     60.1 %     - %

 

NOTE 12 - CONCENTRATIONS AND CREDIT RISK

 

VENDORS AND ACCOUNTS PAYABLE CONCENTRATIONS

 

Vendor purchase concentrations for the period ended March 31, 2012 and accounts payable concentration at March 31, 2012 are as follows:

 

    Net Purchases        
    for the        
    Period from        
    April 11, 2011        
    (inception)     Accounts  
    through     Payable at  
    March 31, 2012     March 31, 2012  
             
Asia Stevia Investment Development Limited     38.0 %     - %
Growers Synergy Pte. Ltd. - related party     13.5 %     16.4 %
Stevia Ventures Corporation     14.4 %     54.1 %
      65.9 %     70.5 %

 

CREDIT RISK

 

Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash and cash equivalents.

 

As of March 31, 2012, substantially all of the Company's cash and cash equivalents were held by major financial institutions, and the balance at certain accounts exceeded the maximum amount insured by the Federal Deposits Insurance Corporation ("FDIC"). However, the Company has not experienced losses on these accounts and management believes that the Company is not exposed to significant risks on such accounts.