DUE TO/FROM RELATED PARTIES, NET

9 Months Ended

Dec. 31, 2013

NOTE 13 – DUE TO / FROM RELATED PARTIES, NET

As of December 31, 2013 and March 31, 2013 the Company had amounts due to related parties in the amounts of $6,956,414 and $4,615,937, respectively consisting primarily of trade payables due to Starlight affiliates. As of December 31, 2013 and March 31, 2013 the Company had amounts due from related parties in the amounts of $570,817 and $403,154, respectively consisting primarily of trade receivables due from Starlight affiliates. Starlight Electronics Company, Ltd (related-party company) charges interest on current year intercompany trade payables that are past due at a rate of 4.5% per annum. For both the three and nine month periods ended December 31, 2013 and December 31, 2012 the Company incurred interest expense in the amounts of $0 and $5,575, respectively.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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