INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The components of income tax (benefit) from continuing operations for the Company are as follows:

	2016		2015
Current benefit
Federal	$	-	$	(25,000)
State		-		-
Deferred benefit		-		-
Total income tax benefit	$	-	$	(25,000)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The reconciliation between the statutory federal income tax provision and the actual effective tax provision for continuing operations is as follows:

	Years ended March 31,
	2016		2015
Federal benefit at statutory rate (34%) before loss carry-forward	$	(726,849)	$	(1,268,195)
Non-repatriated loss of Hong Kong Joint Venture		252,228		383,710
Permanent differences		83,024		32,713
State income tax benefit – net of federal effect		(38,815)		(111,900)
Increase in deferred tax allowance		430,412		938,672
	$	-	$	(25,000)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The individual components of the Company’s deferred tax assets are as follows:

	March 31,
	2016		2015
Deferred tax assets:
Accruals and allowances	$	57,922	$	57,965
Inventory uniform capitalization		26,309		28,250
Net operating loss carry forward		2,821,998		2,389,602
Foreign tax credit carry forward		947,347		1,190,390
Research and development tax credit carry forward		61,701		61,701
Allowance for unrealizable deferred tax assets		(3,915,277)		(3,727,908)
Net deferred tax asset	$	-	$	-