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Note 1 - Organization and Summary of Significant Accounting Policies: Revenue Recognition (Policies)
3 Months Ended
Sep. 30, 2012
Revenue Recognition:  
Revenue Recognition

REVENUE RECOGNITION

 

The Company’s revenue recognition policies are in compliance with FASB ASC Topic 605. The Company records revenue when an arrangement exists, services have been rendered or product delivery has occurred, the sales price to the customer is fixed or determinable, and collectability is reasonably assured. The Company’s revenues from the sale of products are recorded when the goods are shipped, title passes, and collectability is reasonably assured.

 

The Company’s revenues from the sale of products to related parties are recorded when the goods are shipped to the customers from our related parties. Upon shipment, title passes, and collectability is reasonably assured. The Company receives purchase orders from our related parties on an as-needed basis from the related party customers. Generally, the related party does not hold the Company’s inventory.