SUBORDINATED RELATED PARTY DEBT

12 Months Ended

Mar. 31, 2014

NOTE 19 – SUBORDINATED RELATED PARTY DEBT

In connection with the line of credit with Crestmark Bank the Company was required to subordinate related party debt from Ram Light Management, Ltd. in the amount of $1,683,247 and Starlight Marketing Development, Ltd. in the amount of $816,753. Since the subordination agreements are in effect throughout the term of the agreement, the amounts due are not payable until the agreement has been terminated on October 12, 2014. Since the agreement expires within one year the subordinated related party debt has been classified as a current liability on the accompanying balance sheet as of March 31, 2014.