LINE OF CREDIT

6 Months Ended

Sep. 30, 2011

LINE OF CREDIT

LINE OF CREDIT

5. LINE OF CREDIT

The Company has a line of credit agreement with First Hawaiian Bank in the amount of $350,000 with a maturity date of April 1, 2012.  The obligation is secured by the Company’s U.S. accounts receivable and bears a variable interest rate based on prime (3.25% at September 30, 2011) plus 2%. There was no outstanding balance as of September 30, 2011 and March 31, 2011, respectively. The credit agreement requires the Company to meet certain financial covenants. The Company was in compliance with these financial covenants at September 30, 2011.