PROPERTY AND EQUIPMENT

3 Months Ended

Jun. 30, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 6 - PROPERTY AND EQUIPMENT

A summary of property and equipment is as follows:

	USEFUL	June 30,		March 31,
	LIFE	2013		2013
		(unaudited)
Computer and office equipment	5 years	$	282,921	$	279,742
Furniture and fixtures	5-7 years		4,312		4,312
Leasehold improvements	*		-		5,500
Warehouse equipment	7 years		224,106		136,521
Molds and tooling	3-5 years		1,839,245		1,849,245
Molds and tooling under development	**		392,375		329,500
			2,742,959		2,604,820

Accumulated depreciation			(2,133,414)		(2,122,043)
		$	609,545	$	482,777

* Shorter of remaining term of lease or useful life

** As of June 30, 2013 and March 31, 2013 the Company had outstanding commitments for molds and tooling in process in the amounts of approximately $82,000 and $140,000, respectively.

Depreciation expense for the three months ended June 30, 2013 and June 30, 2012 was $27,318 and $32,775, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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