DUE TO / FROM RELATED PARTIES, NET

9 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 12 – DUE TO / FROM RELATED PARTIES, NET

As of December 31, 2014 and March 31, 2014 the Company had amounts due to related parties in the amounts of $5,862,503 and $4,925,982, respectively, consisting of an interest-bearing note payable to Ram Light Management Ltd of $1,100,000 and $0, respectively, (See Note 6) and trade payables due to Starlight affiliates in the amount of $4,762,503 and $4,925,982, respectively. Current fiscal year trade payables that are past due bear interest at a rate of 6% per annum and calculated on the number of days the current fiscal year trade payables are past due. Accrued interest on past due trade payables to Starlight affiliates was $2,357 and $0 for the three and nine months ended December 31, 2014 and 2013, respectively. As of December 31, 2014 and March 31, 2014 the Company had amounts due from related parties in the amounts of $935,682 and $367,520, respectively, consisting primarily of non-interest bearing trade receivables due from Starlight affiliates.