INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2013

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax provision (benefit) for federal, foreign, and state income taxes in the consolidated statement of operations consisted of the following components for 2013, 2012 and 2011:

	2013		2012		2011
Income tax provision:
Current:
Federal	$	-	$	-	$	-
State		-		-		-

Total current Federal and State	$	-	$	-	$	-

Deferred:
Federal	$	(1,412,535)	$	-	$	-
State		(206,924)

Total net income tax benefit	$	(1,619,459)	$	-	$	-

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The United States and foreign components of income (loss) before income taxes are as follows:

	2013		2012		2011

United States	$	92,122	$	(432,111)	$	(1,152,015)
Foreign		1,429,354		895,227		532,467
	$	1,521,476	$	463,116	$	(619,548)

Schedule Of Difference Between Actual Tax Expenses and Expected Tax Expenses [Table Text Block]

The actual tax expense differs from the "expected" tax expense for the years ended March 31, 2013, 2012 and 2011 (computed by applying the U.S. Federal Corporate tax rate of 34 percent to income before taxes) as follows:

	2013		2012		2011

Expected tax expense (benefit)	$	517,302	$	157,459	$	(210,646)
State income taxes, net of Federal income tax benefit		25,236		26,299		(34,794)
Permanent differences		5,421		5,247		4,347
Deemed Dividend		537,866		304,377		181,039
Change in valuation allowance		(2,246,235)		385,219		(632,559)
Tax rate differential on foreign earnings		(537,866)		(304,377)		(181,039)
Prior year adjustments		78,817		(574,224)		873,652
Actual tax (benefit) expense	$	(1,619,459)	$	-	$	-

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities are as follows:

	2013		2012		2011

Deferred tax assets:
Federal net operating loss carryforward	$	2,189,622	$	2,579,924	$	2,141,339
State net operating loss carryforward		413,849		431,306		852,549
AMT credit carryforward		36,808		70,090		70,090
Inventory differences		358,130		438,773		24,572
Allowance for doubtful accounts		67,849		57,308		59,773
Reserve for sales returns		81,082		74,718		48,967
Charitable contributions		-		60,700		60,700
Accrued Vacation		9,839		9,551		8,550
Depreciation and amortization		81,739		135,660		198,606
Amortization of reorganization intangible		-		7,664		15,329
Deferred tax assets before valuation allowance		3,238,918		3,865,694		3,480,475
Valuation allowance		(1,619,459)		(3,865,694)		(3,480,475)
Net deferred tax assets	$	1,619,459	$	-	$	-

Summary of Operating Loss Carryforwards [Table Text Block]

Net operating loss carry forward amounts and their year of expiration are as follows:

Year of	NOL		NOL
Expiration	Federal		State

2013	$	-	$	-
2014		-		-
2015		-		1,984,323
2016		-		-
2017		-		-
2018 and beyond		6,440,060		6,918,172

	$	6,440,060	$	8,902,495