Note 6 - Significant Risks and Uncertainties

3 Months Ended

Sep. 30, 2012

Concentration Risk Disclosure [Text Block]

Note 6. Significant Risks and Uncertainties

(a) Major Customers. For the three months ended September 30, 2012, approximately 72% of total net sales were derived from two customers as compared to approximately 80% of total net sales derived from two customers in the three months ended September 30, 2011. Accounts receivable as of September 30, 2012 from these customers represented approximately 64% of total accounts receivable. The loss of either of these customers would have an adverse affect on the Company’s operations.  Major customers are those customers who account for more than 10% of net sales.

(b) Other Business Risks. Approximately 61% the Company’s employees are covered by a union contract and are employed in its New Jersey facilities. The union contract was renewed in May 2012 and expires in August 2015.