13. Business Segment Information

12 Months Ended

Mar. 31, 2012

Segment Reporting [Abstract]

13. Business Segment Information

The Company follows the provisions of ASC 280, Segment Reporting, which established standards for the reporting of information about operating segments in annual and interim financial statements. Operating segments are defined as components of an enterprise for which financial information is available that is evaluated regularly by the chief operating decision makers(s) in deciding how to allocate resources and in assessing performance. In the past, the Company operated its subsidiaries (Morris Transportation and Smith Systems) as independent companies under separate management of their respective founders. Management of the Company makes decisions about allocating resources based on these operating segments. Since April, 1, 2011 the Company now operates all subsidiaries (including Morris Transportation and Smith Systems) under the same operating manager. The following tables depict the information expected by ASC 280:

	Revenue		Interest Expense		Depreciation and Amortization Expense		Net Income (Loss)			Total Assets		Capital Expenditures
Year Ended
March 31, 2012
IFC	$	-	$	1,676,364	$	1,094,960	$	(14,336,241	)	$	43,226	$	-
Morris		11,322,844		181,322		1,067,622		(56,620	)		4,293,671		2,323,176
Smith		9,392,154		240,773		442,470		55,605			4,455,051		1,891,016
	$	20,714,998	$	2,098,459	$	2,605,052	$	(14,337,256	)	$	8,791,948	$	4,214,192
March 31, 2011
IFC	$	-	$	1,372,456	$	989,658	$	(6,867,213	)	$	1,271,185	$	-
Morris		11,135,967		291,667		838,779		297,047			3,621,863		68,311
Smith		7,691,400		223,554		351,390		338,000			2,681,247		-
	$	18,827,367	$	1,887,677	$	2,179,827	$	(6,232,166	)	$	7,574,295	$	68,311

See Note 2 for Discontinued segment results and note that non-controlling interests are not reflected