CONCENTRATION OF RISK

9 Months Ended

Dec. 31, 2012

Risks and Uncertainties [Abstract]

Concentration Risk Disclosure [Text Block]

5. CONCENTRATION OF RISK

Financial Instruments — Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of trade accounts receivable.

Concentrations of credit risk with respect to trade receivables are normally limited due to the number of customers comprising the Company’s customer base and their dispersion across different geographic areas.  At December 31, 2012, five customers accounted for 53.01% of the Company’s trade accounts receivables, and two customers accounted for 32.45%.   The Company performs ongoing credit evaluations of its customers and normally does not require collateral to support accounts receivable.

Purchases — The Company has diversified its sources for product components and finished goods and, as a result, the loss of a supplier would not have a material impact on the Company’s operations.  For the nine months ended December 31, 2012 the Company had five suppliers who accounted for 20.66% of gross purchases. For the nine months ended December 31, 2011 the Company had five suppliers who accounted for 25.2% of gross purchases.

Revenues —  For the nine months ended December 31, 2012 the Company had five customers that accounted for 68.44% of total revenues. For the nine months ended December 31, 2011 the Company had five customers that accounted for 25.9% of total revenues.

Foreign customers accounted for 100% of the Company`s sales for the nine month period ended December 31, 2012 (2011 – 89.49%).