SHORT-TERM LOAN

6 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

Note 12 – SHORT-TERM LOAN

The Company received a $571,200 loan from a third party, Insurance Financing, Inc. (“IFI”), to finance the directors’ and officers’ insurance premium. The loan bore an interest rate of 3.60% per annum. The loan was to be repaid over a nine-month period beginning on December 15, 2013. The terms of the agreement allowed for the Company to make nine equal monthly payments of $64,422 each. As of September 30, 2014, the loan has been repaid in full.