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Borrowings
3 Months Ended
Jun. 30, 2014
Borrowings

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, 2014, the Company had $73,000 in outstanding letters of credit. A like amount of cash is posted by the Company as collateral against such outstanding letters of credit and is classified as Restricted Cash on the balance sheet.

Long-term Borrowings

At June 30, 2014 and March 31, 2014, the Company had no borrowings.