Concentrations and Credit Risk

12 Months Ended

Mar. 31, 2015

Risks and Uncertainties [Abstract]

Concentrations and Credit Risk

Customers and Credit Concentrations

Customer concentrations and credit concentrations are as follows:

	Net Sales
	For the Fiscal Year Ended March 31, 2015			For the Fiscal Year Ended March 31, 2014
Customer A		53	%		56	%
Customer B		10	%		30	%
		63	%		86	%

No customer in accounts receivable were over 10% at March 31, 2015 or 2014.

reduction in sales from or loss of such customers would have a material adverse effect on the Company’s results of operations and financial condition.

Deferred Tax Assets

At March 31, 2015, the Company had net operating loss (“NOL”) carry–forwards for Federal income tax purposes of $3,625,968 that may be offset against future taxable income through 2035. No tax benefit has been reported with respect to these net operating loss carry-forwards because the Company believes that the realization of the Company’s net deferred tax assets of approximately $1,232,829 was not considered more likely than not and accordingly, the potential tax benefits of the net loss carry-forwards are offset by a full valuation allowance.

Deferred tax assets consist primarily of the tax effect of NOL carry-forwards.  The Company has provided a full valuation allowance on the deferred tax assets because of the uncertainty regarding its realization.  The valuation allowance increased approximately $281,097 and $355,257 for the Fiscal Year ended March 31, 2015 and 2014, respectively.

Components of deferred tax assets are as follows:

	March 31, 2014			March 31, 2013
Net deferred tax assets – non-current:
Expected income tax benefit from NOL carry-forwards	$	1,232,829		$	951,732
Less valuation allowance		(1,232.829	)		(951,732	)
Deferred tax assets, net of valuation allowance	$	-		$	-

Income Tax Provision in the Statement of Operations

A reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage of income before income tax provision is as follows:

	For the Fiscal Year Ended March 31, 2015			For the Fiscal Year Ended March 31, 2014
Federal statutory income tax rate		34.0	%		34.0	%
Change in valuation allowance on net operating loss carry-forwards		(34.0	)		(34.0	)
Effective income tax rate		0.0	%		0.0	%