OBLIGATIONS TO CLIENTS FOR RETURNS AND ALLOWANCES

3 Months Ended

Jun. 30, 2013

Payables and Accruals [Abstract]

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

NOTE 9 - OBLIGATIONS TO CLIENTS FOR RETURNS AND ALLOWANCES

Due to the seasonality of the business and length of time clients are given to return defective product, it is not uncommon for clients to accumulate credits from the Company’s sales and allowance programs that are in excess of unpaid invoices in accounts receivable. All credit balances in clients’ accounts receivable are reclassified to “obligations to clients for returns and allowances” in current liabilities on the consolidated balance sheet. Client requests for payment of a credit balance are reclassified from obligations to clients for returns and allowances to accounts payable on the condensed consolidated balance sheets. When new invoices are processed prior to settlement of the credit balance and the client accepts settlement of open credits with new invoices, then the excess of new invoices over credits are netted in accounts receivable. As of June 30, 2013 and March 31, 2013 obligations to clients for returns and allowances reclassified from accounts receivable were $382,315 and $376,289 respectively. As of June 30, 2013 there were no customers requesting payment of their credit balance and as such there were no amounts reclassified from obligations to clients for returns and allowances to accounts payable.