MAJOR CUSTOMERS AND MAJOR VENDORS

6 Months Ended

Dec. 31, 2011

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

MAJOR CUSTOMERS AND MAJOR VENDORS

NOTE 11- MAJOR CUSTOMERS AND MAJOR VENDORS

We had three major customer during the three and six months ended September 30, 2011 and December 31, 2011 that accounted for 90% and 86% of our sales. The receivables due from these customers as of December 31, 2011 and 2010 totaled $7,979,250 and $14,886,749, respectively.

We had one major vendor during the three and six month period ending December 31, 2011 that accounted for 57% and 68% of our purchases. This major vendor was GGEC. The amount due to this vendor as of December 31, 2011 totaled $24,840,111. During the six months ended December 31, 2010, GGEC accounted for in excess of 96% of our purchases. The amount due this vendor as of December 31, 2010 totaled $37,260,420.