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Borrowings

3 Months Ended

Jun. 30, 2013

NOTE 7 — BORROWINGS

Short-term Borrowings

Letters of Credit – The Company uses Hang Seng Bank to issue letters of credit on behalf of the Company, as needed, on a 100% cash collateralized basis. At June 30, 2013, the Company had no outstanding letters of credit.

Long-term Borrowings

At June 30, 2013 and March 31, 2013, borrowings under long-term facilities consisted of the following (in thousands):


	June 30, 2013			March 31, 2013
	(Unaudited)
Capitalized lease obligations		62			73
Less current maturities		(43	)		(43	)

Long term debt and notes payable	$	19		$	30

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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