Unrestricted Net Assets

3 Months Ended

Mar. 31, 2012

Receivables [Abstract]

Unrestricted Assets Disclosure [Text Block]

11. Unrestricted Net Assets

The Company's wholly-owned subsidiary, UBIUK, has undistributed losses of $2,979,300 as of March 31, 2012. Under KBEL's line of credit agreement with RBS, distributions and other payments to MBC from KBEL are not permitted if retained earnings drop below $1,598,500. Condensed financial information of the parent company, MBC together with its other subsidiary, Releta is as follows:

Balance Sheets

	March 31, 2012			December 31, 2011
	(unaudited)			(audited)
Assets
Cash	$	90,600		$	187,200
Accounts receivable, net		2,344,000			2,308,400
Inventories		1,938,600			1,799,600
Prepaid expenses		84,500			126,800
Total current assets		4,457,700			4,422,000
Investment in UBIUK		1,225,000			1,225,000
Property and equipment		10,237,200			10,349,000
Intercompany receivable		293,000			231,400
Other assets		495,800			462,500
Total assets	$	16,708,700		$	16,689,900
Liabilities and Stockholders' Equity
Line of credit	$	970,100		$	895,300
Accounts payable		1,444,900			1,511,400
Accrued liabilities		925,200			824,300
Current maturities of debt and leases		460,700			473,100
Total current liabilities		3,800,900			3,704,100
Long-term debt and capital leases		4,175,000			4,280,900
Notes to related parties		3,338,400			3,315,700
Total liabilities	$	11,314,300		$	11,300,700
Stockholders' equity
Preferred stock		227,600			227,600
Common stock		15,100,300			15,100,300
Accumulated deficit		(9,933,500	)		(9,938,700	)
Total stockholders' equity		5,394,400			5,389,200
Total liabilities and stockholders' equity	$	16,708,700		$	16,689,900

Statements of Operations	Quarter ended March 31
	2012			2011
	(unaudited)			(unaudited)
Net sales	$	3,941,600		$	3,828,200
Cost of goods sold		2,938,600			2,787,800
Selling, marketing, and retail expenses		428,600			352,300
General and administrative expenses		506,300			532,900
Income from operations		68,100			155,200
Other (income) and expense		(34,700	)		(33,800	)
Interest expense		96,800			105,600
Provision for taxes		800			7,100
Net income	$	5,200		$	76,300

Statements of Cash Flows	Quarter ended March 31
	2012			2011
	(unaudited)			(unaudited)
Cash flows from operating activities	$	47,600		$	266,200
Purchase of property and equipment		(39,100	)		(11,300	)
Net borrowing (repayment) on line of credit		74,800			(42,800	)
Repayment on long term debt		(105,900	)		(77,100	)
Payment on obligation under capital lease		(12,400	)		(11,600	)
Net change in payable to UBI		(61,600	)		(62,200	)
Increase (decrease) in cash		(96,600	)		61,200
Cash, beginning of period		187,200			64,900
Cash, end of period	$	90,600		$	126,100