0001144204-15-049542.txt : 20150814 0001144204-15-049542.hdr.sgml : 20150814 20150814124253 ACCESSION NUMBER: 0001144204-15-049542 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 11 CONFORMED PERIOD OF REPORT: 20150630 FILED AS OF DATE: 20150814 DATE AS OF CHANGE: 20150814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SINGING MACHINE CO INC CENTRAL INDEX KEY: 0000923601 STANDARD INDUSTRIAL CLASSIFICATION: PHONOGRAPH RECORDS & PRERECORDED AUDIO TAPES & DISKS [3652] IRS NUMBER: 953795478 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-24968 FILM NUMBER: 151054149 BUSINESS ADDRESS: STREET 1: 6301 NW 5TH WAY, STE 2900 CITY: FORT LAUDERDALE STATE: FL ZIP: 33309 BUSINESS PHONE: (954) 596-1000 MAIL ADDRESS: STREET 1: 6301 NW 5TH WAY, STE 2900 CITY: FORT LAUDERDALE STATE: FL ZIP: 33309 10-Q 1 v417421_10q.htm FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934

For quarter ended June 30, 2015

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____ to ______.

Commission File Number 0 - 24968

THE SINGING MACHINE COMPANY, INC.

(Exact Name of Registrant as Specified in its Charter)

DELAWARE		95-3795478
(State of Incorporation )		(IRS Employer I.D. No.)

6301 NW 5^th Way, Suite 2900, Fort Lauderdale FL 33309

(Address of principal executive offices)

(954) 596-1000

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirement for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check One)

Large accelerated filer ¨

Accelerated filer ¨

Non-accelerated filer ¨

Smaller Reporting Company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

APPLICABLE ONLY TO ISSUES INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicated by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities and Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes ¨ No o

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:

CLASS		NUMBER OF SHARES OUTSTANDING

Common Stock, $0.01 par value		38,117,517 as of August 14, 2015

THE SINGING MACHINE COMPANY, INC. AND SUBSIDIARIES

INDEX

		Page No.

	PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

	Condensed Consolidated Balance Sheets – June 30, 2015 (Unaudited) and March 31, 2015	3

	Condensed Consolidated Statements of Operations – Three months ended June 30, 2015 and 2014 (Unaudited)	4

	Condensed Consolidated Statements of Cash Flows - Three months ended June 30, 2015 and 2014 (Unaudited)	5

	Notes to Condensed Consolidated Financial Statements - June 30, 2015 (Unaudited)	6-13

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	14-18

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	18

Item 4.	Controls and Procedures	18

	PART II. OTHER INFORMATION

Item 1.	Legal Proceedings	19

Item 1A.	Risk Factors	19

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	19

Item 3.	Defaults Upon Senior Securities	19

Item 4.	Mine Safety Disclosures	19

Item 5.	Other Information	19

Item 6.	Exhibits	19

SIGNATURES		20

The Singing Machine Company, Inc. and Subsidiaries

CONDENSED CONSOLIDATED BALANCE SHEETS

	June 30, 2015			March 31, 2015
	(Unaudited)			(Audited)
Assets
Current Assets
Cash	$	363,410		$	116,286
Accounts receivable, net of allowances of $46,698 and $174,131, respectively		1,673,628			1,466,168
Due from PNC Bank		-			137,415
Due from related party - Starlight Electronics Co., Ltd.		17,240			-
Due from related party - Cosmo Communications Canada, Ltd.		77,012			-
Inventories, net		8,110,348			7,448,167
Prepaid expenses and other current assets		90,695			92,609
Deferred financing costs		74,077			74,077
Deferred tax asset, net		761,599			449,274
Total Current Assets		11,168,009			9,783,996

Property and equipment, net		471,395			466,571
Other non-current assets		11,394			11,394
Deferred financing costs, net of current portion		77,164			95,683
Deferred tax asset, net of current portion		1,856,281			1,856,281
Total Assets	$	13,584,243		$	12,213,925

Liabilities and Shareholders' Equity
Current Liabilities
Accounts payable	$	3,025,272		$	2,767,180
Note payable related party - Ram Light Management, Ltd.		551,177			496,496
Due to related party - Ram Light Management, Ltd.		583,247			583,247
Due to related party - Starlight R&D, Ltd.		582,072			554,031
Due to related party - Cosmo Communications Canada, Inc.		-			40,256
Due to related party - Starlight Consumer Electronics Co., Ltd.		256,343			208,672
Accrued expenses		617,901			452,651
Revolving line of credit		1,537,014			-
Current portion of capital lease		10,601			12,628
Customer deposits		287,110			-
Obligations to customers for returns and allowances		10,361			399,419
Warranty provisions		153,074			197,873
Total Current Liabilities		7,614,172			5,712,453

Long-term capital lease, net of current portion		-			1,078
Note payable related party debt - Ram Light Management, Ltd. net of current portion		548,823			603,504
Accrued expenses, net of current portion		63,778			46,495
Subordinated related party debt - Starlight Marketing Development, Ltd.		1,924,431			1,924,431
Total Liabilities		10,151,204			8,287,961

Shareholders' Equity
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding		-			-
Common stock, Class A, $0.01 par value; 100,000 shares authorized; no shares issued and outstanding		-			-
Common stock, Class B, $0.01 par value; 100,000,000 shares authorized; 38,117,517 shares issued and outstanding		381,175			381,175
Additional paid-in capital		19,309,967			19,307,966
Accumulated deficit		(16,258,103	)		(15,763,177	)
Total Shareholders' Equity		3,433,039			3,925,964
Total Liabilities and Shareholders' Equity	$	13,584,243		$	12,213,925

See notes to the condensed consolidated financial statements.

The Singing Machine Company, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

	For Three Months Ended
	June 30, 2015			June 30, 2014

Net Sales	$	3,466,874		$	2,544,959

Cost of Goods Sold		2,608,453			2,029,068

Gross Profit		858,421			515,891

Operating Expenses
Selling expenses		457,727			345,267
General and administrative expenses		1,101,981			928,871
Depreciation		37,333			29,331
Total Operating Expenses		1,597,041			1,303,469

Loss from Operations		(738,620	)		(787,578	)

Other Expenses
Interest expense		(50,112	)		(1,842	)
Financing costs		(18,519	)		-
Net Other Expenses		(68,631	)		(1,842	)

Loss before income tax benefit		(807,251	)		(789,420	)

Income tax benefit		312,325			289,891

Net Loss	$	(494,926	)	$	(499,529	)

Loss per Common Share
Basic and Diluted	$	(0.01	)	$	(0.01	)

Weighted Average Common and Common Equivalent Shares:
Basic and Diluted		38,117,517			38,070,642

See notes to the condensed consolidated financial statements.

The Singing Machine Company, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	For Three Months Ended
	June 30, 2015			June 30, 2014

Cash flows from operating activities:
Net Loss	$	(494,926	)	$	(499,529	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation		37,333			29,331
Amortization of deferred financing costs		18,519			-
Change in inventory reserve		(37,560	)		-
Change in allowance for bad debts		(127,433	)		(23,757	)
Stock based compensation		2,001			32,398
Warranty provisions		(44,799	)		(78,348	)
Change in net deferred tax assets		(312,325	)		(289,891	)
Changes in operating assets and liabilities:
(Increase) decrease in:
Accounts receivable		(80,027	)		(70,487	)
Due from PNC Bank		137,415			-
Inventories		(624,621	)		(5,701,055	)
Prepaid expenses and other current assets		1,914			(80,613	)
Other non-current assets		-			(659	)
Increase (decrease) in:
Accounts payable		258,092			4,879,506
Net due to related parties		(58,796	)		642,540
Accrued expenses		182,533			97,275
Customer deposits		287,110			-
Obligations to customers for returns and allowances		(389,058	)		25,588
Net cash used in operating activities		(1,244,628	)		(1,037,701	)
Cash flows from investing activities:
Purchase of property and equipment		(42,157	)		(33,013	)
Net cash used in investing activities		(42,157	)		(33,013	)
Cash flows from financing activities:
Net proceeds from revolving line of credit		1,537,014			84,414
Payments on long-term capital lease		(3,105	)		(2,969	)
Net cash provided by financing activities		1,533,909			81,445
Net change in cash		247,124			(989,269	)

Cash at beginning of period		116,286			1,354,099
Cash at end of the period	$	363,410		$	364,830

Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	$	9,665		$	1,842

See notes to the condensed consolidated financial statements.

THE SINGING MACHINE COMPANY, INC AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

June 30, 2015

NOTE 1 – BASIS OF PRESENTATION

OVERVIEW

The Singing Machine Company, Inc., a Delaware corporation (the “Company”, “SMC”, “The Singing Machine”) and its three wholly-owned subsidiaries SMC (Comercial Offshore De Macau) Limitada (“Macau Subsidiary”), SMC Logistics, Inc. (“SMC-L”) and SMC-Music, Inc.(“SMC-M”) are primarily engaged in the development, marketing, and sale of consumer karaoke audio systems, accessories, musical instruments and musical recordings. The products are sold by SMC to retailers and distributors for resale to consumers.

NOTE 2-SUMMARY OF ACCOUNTING POLICIES

PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION

The condensed consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in the condensed consolidated financial statements. The accompanying unaudited financial statements for the three months ended June 30, 2015 and 2014 have been prepared in accordance with generally accepted accounting principles applicable to interim financial information and the requirements of Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete consolidated financial statements. In the opinion of management, such condensed consolidated financial statements include all adjustments (consisting of normal recurring accruals) necessary for the fair presentation of the condensed consolidated financial position and the condensed consolidated results of operations. The condensed consolidated results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet information as of March 31, 2015 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K. The interim condensed consolidated financial statements should be read in conjunction with that report.

USE OF ESTIMATES

The Singing Machine makes estimates and assumptions in the ordinary course of business relating to sales returns and allowances, warranty reserves, inventory reserves and reserves for promotional incentives that affect the reported amounts of assets and liabilities and of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Future events and their effects cannot be determined with absolute certainty; therefore, the determination of estimates requires the exercise of judgment. Historically, past changes to these estimates have not had a material impact on the Company's financial condition. However, circumstances could change which may alter future expectations.

COLLECTIBILITY OF ACCOUNTS RECEIVABLE

The Singing Machine's allowance for doubtful accounts is based on management's estimates of the creditworthiness of its customers, current economic conditions and historical information, and, in the opinion of management, is believed to be in an amount sufficient to respond to normal business conditions. Management sets 100% reserves for customers in bankruptcy and other reserves based upon historical collection experience. Should business conditions deteriorate or any major customer default on its obligations to the Company, this allowance may need to be significantly increased, which would have a negative impact on operations.

FOREIGN CURRENCY TRANSLATION

The functional currency of the Macau Subsidiary is the Hong Kong dollar. The financial statements of the subsidiaries are translated to U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses. Net gains and losses resulting from foreign exchange transactions and translations were not material during the periods presented.

Concentration of Credit Risk

At times, the Company maintains cash in United States bank accounts that are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured amounts of up to $250,000. As of June 30, 2015 and March 31, 2015, the Company had no cash deposits that exceeded the FDIC insurance limit. The Company maintains cash balances in foreign financial institutions. The amounts in foreign financial institutions at June 30, 2015 and March 31, 2015 were $329,731 and $23,794, respectively.

INVENTORY

Inventories are comprised primarily of electronic karaoke equipment, microphones and accessories, and are stated at the lower of cost or market, as determined using the first in, first out method. The Singing Machine reduces inventory on hand to its net realizable value on an item-by-item basis when it is apparent that the expected realizable value of an inventory item falls below its original cost. A charge to cost of sales results when the estimated net realizable value of specific inventory items declines below cost. Management regularly reviews the Company's investment in inventories for such declines in value.

COMPUTATION OF EARNINGS PER SHARE

Loss per common share is computed by dividing net loss by the weighted average of common shares outstanding during the period. Diluted net income per share is presented as the conversion of stock options would have a dilutive effect. As of June 30, 2015 and 2014 total potential dilutive shares amounted to approximately 880,000 and 74,000 shares, respectively, however these shares were not included in the computation of diluted earnings per share for the three months ended June 30, 2015 and June 30, 2014 because their effect was anti-dilutive.

REVENUE RECOGNITION

Revenue from the sale of equipment, accessories, musical recordings and subscriptions and third –party logistics services are recognized upon the later of: (a) the time of shipment or (b) when title passes to the customers and all significant contractual obligations and services have been satisfied and collection of the resulting receivable is reasonably assured. Net sales are comprised of gross sales net of actual and estimated future returns, discounts and volume rebates.

STOCK BASED COMPENSATION

The Company follows the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718-20, “Compensation – Stock Compensation Awards Classified as Equity”. ASC 718-20 requires all share-based payments to employees including grants of employee stock options, be measured at fair value and expensed in the condensed consolidated statements of operations over the service period (generally the vesting period). The Company uses the Black-Scholes option valuation model to value stock options. Employee stock option compensation expense for the three months ended June 30, 2015 and 2014 includes the estimated fair value of options granted, amortized on a straight-line basis over the requisite service period for the entire portion of the award. For the three months ended June 30, 2015 and 2014, the stock option expense was $2,001 and $32,398, respectively.

ADVERTISING

Costs incurred for producing and publishing advertising of the Company are charged to operations the first time the advertising takes place. The Company has entered into cooperative advertising agreements with its major customers that specifically indicated that the customer has to spend the cooperative advertising fund upon the occurrence of mutually agreed events. The percentage of the cooperative advertising allowance ranges from 2% to 9% of the purchase. The customers have to advertise the Company's products in the customer's catalog, local newspaper and other advertising media. The customer must submit the proof of the performance (such as a copy of the advertising showing the Company’s products) to the Company to request for the allowance. The customer does not have the ability to spend the allowance at their discretion. The Company believes that the identifiable benefit from the cooperative advertising program and the fair value of the advertising benefit is equal or greater than the cooperative advertising expense. Advertising expense for the three months ended June 30, 2015 and 2014 was $279,356 and $199,720, respectively.

RESEARCH AND DEVELOPMENT COSTS

Research and development costs are charged to results of operations as incurred. These expenses are shown as a component of selling, general and administrative expenses in the condensed consolidated statements of operations. For the three months ended June 30, 2015 and 2014, these amounts totaled $32,120 and $28,200 respectively.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company adopted FASB ASC 825, “Financial Instruments”, which requires disclosures of information about the fair value of certain financial instruments for which it is practicable to estimate that value. For purposes of this disclosure, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation.

The carrying amounts of the Company's short-term financial instruments, including accounts receivable, accounts payable, obligations to customers for returns and allowances, warranty provision, accrued expenses and net due to related parties approximates fair value due to the relatively short period to maturity for these instruments.

INCOME TAXES

The Company follows the provisions of FASB ASC 740 "Accounting for Income Taxes." Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. If it is more likely than not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized.

The Company analyzes its deferred tax assets and liabilities at the end of each interim period and, based on management’s best estimate of its full year effective tax rate, recognizes cumulative adjustments to its deferred tax assets and liabilities. The Company’s effective tax rate for the fiscal year ending March 31, 2016 is estimated to be approximately 39%. The effective tax rate for the full year ended March 31, 2015 was approximately 35%.

As of June 30, 2015 and March 31, 2015, The Singing Machine had gross deferred tax assets of approximately $3.3 million and $3.0 million, respectively, against which the Company recorded valuation allowances totaling approximately $0.7 million. A valuation allowance was recorded against deferred tax assets because it is more likely than not that a portion of the tax benefits from the gross deferred tax assets will not be realized. For the three month period ended June 30, 2015, the Company recorded a loss before income tax benefit of approximately $807,000 which generated an additional current deferred tax asset and income tax benefit of approximately $312,000. Due to the seasonality of the business, the Company is expected to reverse this increase in deferred tax asset during the remainder of fiscal year ending March 31, 2016.

The Company recognizes a liability for uncertain tax positions. An uncertain tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax return that is not based on clear and unambiguous tax law and which is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. As of June 30, 2015, there were no uncertain tax positions that resulted in any adjustment to the Company’s provision for income taxes. The Company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes. The Company currently has no liabilities recorded for accrued interest or penalties related to uncertain tax provisions.

As of June 30, 2015, the Company is subject to U.S. Federal income tax examinations for the tax years ended March 31, 2012 through March 31, 2015.

LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recoverable. If the undiscounted future cash flows attributable to the related assets are less than the carrying amount, the carrying amounts are reduced to fair value and an impairment loss is recognized in accordance with FASB ASC 360-10-05, "Accounting for the Impairment or Disposal of Long-Lived Assets."

PROPERTY AND EQUIPMENT

Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is provided for in amounts sufficient to relate the cost of depreciable assets to their estimated useful lives using accelerated and straight-line methods.

SHIPPING AND HANDLING COSTS

Shipping and handling costs are classified as a component of selling expenses and those billed to customers are recorded as a reduction of expense in the consolidated statements of income.

RECENT ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09 which outlines a single comprehensive model for companies to use when accounting for revenue arising from contracts with customers. The core principle of the revenue recognition model is that an entity recognizes revenue to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In order to achieve this core principle a company must apply the following steps in determining revenue recognition:

Identify the contract(s) with a customer

Identify the performance obligations in the contract.

Determine the transaction price.

Allocate the transaction price to the performance obligations in the contract.

Recognize revenue when (or as) the entity satisfies a performance obligation.

The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period with early application allowed beginning with reporting periods after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-09 will have any material effect on the company’s consolidated financial statements.

In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. An entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU is effective for all entities for reporting periods beginning after December 15, 2015. The implementation of ASU 2014-12 is not expected to have any material effect on the company’s consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The ASU requires that at every interim and annual period, management determine whether conditions or events exist which raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management’s initial consideration of the relevant conditions and events indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate these factors will alleviate that substantial doubt. The mitigating effect is considered only if it is probable that the plan will be effectively implemented and probable that the plans will mitigate the conditions or events that raised the substantial doubt. If management’s plans will alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the conditions or events that raised substantial doubt and management’s plans that alleviated those concerns. If management’s plans will not alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the same conditions and events along with management’s plans that did not alleviate the substantial doubt, in addition to a statement that indicates there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and for interim periods within annual periods beginning after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-15 will have any material effect on the company’s consolidated financial statement disclosures.

In January 2015, the FASB issued ASU 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. To be considered an extraordinary item under existing Generally Accepted Accounting Principles, an event or transaction that is identified as both unusual in nature and occurs infrequently must be segregated as an extraordinary item from results or ordinary operations, separately presented as an extraordinary item on an entity’s income statement, net of tax, after income from continuing operations and an entity must disclose income taxes and earnings per share data applicable to the extraordinary item. While the ASU eliminates the requirement to segregate and separately report an event that is identified as an extraordinary item it does not affect the reporting and disclosure requirements for an extraordinary item. ASU 2015-01 is effective for periods beginning after December 15, 2015 and interim periods within those annual periods. The implementation of ASU 2015-01 is not expected to have any material effect on the company’s consolidated financial statement disclosures.

In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense”. Any debt issuance costs incurred before the associated funding is received should be reported on the balance sheet as deferred charges until the debt liability amount is recorded. The guidance in ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued with the new guidance to be applied retrospectively to all prior periods. Management is currently assessing whether the implementation of ASU 2015-03 will have any material effect on the company’s consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. The ASU requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out (LIFO) and the retail inventory method (RIM) are not impacted by the new guidance. The guidance in ASU 2015-11 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. The new guidance should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Management is currently assessing whether the implementation of ASU 2015-11 will have any material effect on the company’s consolidated financial statements.

NOTE 3 – DUE FROM PNC BANK

In connection with the Company’s revolving credit facility with PNC Bank, cash collected by PNC Bank on trade accounts receivable may exceed amounts borrowed on the revolving credit facility from time to time (See Note 6 – LINE of CREDIT). As of June 30, 2015 and March 31, 2015, PNC Bank owed the Company $0 and $137,415, respectively, which represented cash received by PNC Bank on accounts receivable in excess of amounts borrowed against the revolving credit facility.

NOTE 4- INVENTORIES, NET

Inventories are comprised of the following components:

	June 30,			March 31,
	2015			2015
	(unaudited)			(audited)

Finished Goods	$	7,893,750		$	7,869,167
Inventory in Transit		600,038			-
Inventory Reserve		(383,440	)		(421,000	)

Inventories, net	$	8,110,348		$	7,448,167

NOTE 5 - PROPERTY AND EQUIPMENT

A summary of property and equipment is as follows:

	USEFUL		June 30,		March 31,
	LIFE		2015		2015
			(unaudited)		(audited)

Computer and office equipment		5 years	$	285,650	$	285,650
Furniture and fixtures		5-7 years		4,312		4,312
Warehouse equipment		7 years		224,106		224,106
Molds and tooling		3-5 years		2,399,290		2,357,133
				2,913,358		2,871,201
Accumulated depreciation				2,441,963		2,404,630
			$	471,395	$	466,571

Depreciation expense for the three months ended June 30, 2015 and June 30, 2014 was $37,333 and $29,331, respectively.

NOTE 6 – LINE OF CREDIT

CRESTMARK BANK

On October 19, 2012, the Company executed a two-year Accounts Receivable Ledgered Line of Credit Facility (“line of credit”) with Crestmark Bank (“Crestmark”) of Troy, Michigan which was terminated by SMC on July 15, 2014 and replaced by a revolving credit facility from PNC Bank National Association.

Interest on the line of credit and discounting charges on accounts receivable advances was accrued at a rate of 2% per annum over the prime rate as published by the Wall Street Journal and at no time was the effective rate less than 5.25% per annum. During the three month period ended June 30, 2015 and 2014 the Company incurred interest expense of $0 and $1,576, respectively on amounts borrowed against the line of credit. The credit facility was secured with all assets of the Company as well as related-party debt subordination agreements totaling $2,500,000 from Ram Light Management, Ltd. in the amount of $1,683,247 and Starlight Marketing Development, Ltd. in the amount of $816,753. There was a 1% commission fee of the gross invoice amount on all domestic accounts receivable pledged. For the three month period ended June 30, 2015 and 2014 the Company incurred commission fees on pledged receivables in the amount of $0 and $14,506, respectively. There were no amounts outstanding on the line of credit as of June 30, 2015 and March 31, 2015.

PNC BANK NATIONAL ASSOCIATION

On July 14, 2014, the Company executed a three-year revolving credit facility (the “Revolving Credit Facility”) with PNC Bank, National Association (“PNC”) that replaced the existing line of credit agreement with Crestmark. The Revolving Credit Facility has a three year term expiring on July 14, 2017. The outstanding loan balance cannot exceed $15,000,000 during peak selling season between August 1 and December 31 and is reduced to a maximum of $7,500,000 between January 1 and July 31. Usage under the Revolving Credit Facility shall not exceed the sum of the following (the “Borrowing Base”):

Up to 85% of the company’s eligible domestic and Canadian accounts receivable aged less than 60 days past due (not to exceed 90 days from invoice date, cross aged on the basis of 50% or more past due with certain specific accounts qualifying for up to 120 days from invoice date not to exceed 30 days from the due date); plus

Up to the lesser of (a) 50% of the cost of eligible inventory or (b) 75% of net orderly liquidation value percentage of eligible inventory (annual inventory appraisals required); minus

An all-time $500,000 block; minus

Applicable reserves including a dilution reserve equal to 125% of the Company’s advertising and return accrual reserves. Dilution reserve not to exceed availability generated from eligible accounts receivable.

The Revolving Credit Facility includes the following sub-limits:

Letters of Credit to be issued limited to $3,000,000.

Inventory availability limited to $4,000,000.

Mandatory pay-down to $1,000,000 (excluding letters of credit) for any 30 consecutive days between February 1 and April 30.

The Revolving Credit Facility must comply with the following quarterly financial covenants to avoid default:

Fixed charge coverage ratio test of 1.1:1 times measured on a rolling four quarter basis, defined as EBITDA less non-financed capital expenditures, cash dividends and distributions paid and cash taxes paid divided by the sum of interest and principal on all indebtedness.

Capital expenditures limited to $150,000 per year.

Interest on the Revolving Line of Credit accrues at 2% per annum over PNC’s announced prime rate with an option for the Company to elect the 1, 2 or 3 month fully absorbed PNC LIBOR Rate plus 3.5% per annum with a default rate of 2% over the applicable rate. There is an unused facility fee equal to .375% per annum on the unused portion of the Revolving Credit Facility which is calculated on the basis of a 360 day year for the actual number of days elapsed and is payable quarterly in arrears. During the three month periods ended June 30, 2015 and 2014 the Company incurred interest expense of $9,665 and $0, respectively on amounts borrowed against the line of credit. During the three month periods ended June 30, 2015 and 2014 the Company incurred an unused facility fee of $6,142 and $0, respectively on the unused portion of the Revolving Credit Facility.

The Revolving Line of Credit is secured by first priority security interests in all of the named borrowers’ tangible and intangible assets as well as first priority security interests of 100% of member or ownership interests of any of its domestic existing or newly formed subsidiaries and first priority lien on up to 65% of the borrowers’ domestic subsidiary’s existing or subsequently formed or acquired foreign subsidiaries. The Revolving Credit Facility is also secured by a related-party debt subordination agreement with Starlight Marketing Development, Ltd. in the amount of $2,500,000. Costs associated with securing the Revolving Credit Facility of approximately $222,000 were deferred and amortized over the term of the agreement. Amortization of deferred financing costs for the three months ended June 30, 2015 and 2014 was $18,519 and $0, respectively.

As a condition of the Revolving Credit Facility, a portion of the Company’s related-party debt with Ram Light Management, Ltd.in the amount of $1,100,000 was converted to a note payable with Ram Light Management, Ltd. (“Ram Light Note”). The Ram Light Note bears interest at 6% per annum with quarterly payments of $150,000 (including principal and interest) payable beginning December 31, 2014. Scheduled principal and interest payment of $150,000 will only be permitted upon receipt of the Company’s current quarterly compliance certificate; the Company having met the mandatory pay-down of the Revolving Credit Facility to $1,000,000 and average excess availability for the prior 30 days (after subtraction of third party trade payables 30 days or more past due) of no less than $1,000,000 after giving effect to the payment. The Company has not met the above requirements for the first three scheduled payments and as a result has not made any scheduled payments on the note as of June 30, 2015. For the three months ended June 30, 2015 and 2014 the company accrued interest expense on the Ram Light Note in the amount of $17,283 and $0, respectively.

NOTE 7 – LONG-TERM CAPITAL LEASE

On April 13, 2013, the company entered into a long-term capital leasing arrangement with Wells Fargo Equipment Finance (“Wells Fargo”) to finance the lease of two used forklift vehicles in the amount of $36,388. The lease requires monthly payments in the amount of $1,082 per month over a total lease term of 36 months which commenced on May 19, 2013. The agreement has an effective interest rate of 4.5% and the company has the option to purchase the equipment at the end of the lease term for one dollar. As of June 30, 2015 and March 31, 2015, the outstanding amount due to Wells Fargo was $10,601 and $13,706 respectively.

As of June 30, 2015 and March 31, 2015, the Company had obligations under the capital lease repayable as follows:

	June 30, 2015			March 31, 2015

Total minimum lease payments Within one year	$	10,820		$	12,984
After one year but within three years		-			1,078
		10,820			14,062
Interest payments relating to future periods		(219	)		(356	)

Present Value of minimum lease payments	$	10,601		$	13,706

For the three month periods ended June 30, 2015 and June 30, 2014 the amount of interest related to the capital lease was $142 and $277, respectively.

NOTE 8 – CUSTOMER DEPOSITS

Normal credit terms to foreign customers shipped direct import from our Macau subsidiary are 50% of invoice price prior to shipment with the remaining 50% of invoice price due at time of shipment. As of June 30, 2015 and March 31, 2015 there was a total of $287,110 and $0, respectively on deposit with the company for future period shipments.

NOTE 9 - OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES

Due to the seasonality of the business and length of time customers are given to return defective product, it is not uncommon for customers 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 customers’ accounts receivable are reclassified to “obligations to customers for returns and allowances” in current liabilities on the condensed consolidated balance sheets. Client requests for payment of a credit balance are reclassified from obligations to customers 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, 2015 and March 31, 2015 obligations to customers for returns and allowances reclassified from accounts receivable were $10,361 and $399,419, respectively. As of June 30, 2015 and March 31, 2015, there were no customers requesting payment of their credit balance and as such there were no amounts reclassified from obligations to customers for returns and allowances to accounts payable.

NOTE 10 - COMMITMENTS AND CONTINGENCIES

LEGAL MATTERS

Management is currently not aware of any legal proceedings.

OPERATING LEASES

The Company has entered into various operating lease agreements for office and warehouse facilities in Fort Lauderdale, Florida, Ontario, California and Macau expiring at varying dates. Rent expense for the three month periods ended June 30, 2015 and 2014 was $155,221 and $163,470 respectively.

In addition, the Company maintains various warehouse equipment and computer equipment operating leases. Future minimum lease payments under property and equipment leases with terms exceeding one year as of June 30, 2015 are as follows:

	Operating Leases
For period ending
June 30,
2015	$	547,316
2016		535,626
2017		487,671
2018		518,171
2019		524,272
2020 and beyond		218,447
	$	2,831,503

NOTE 11 - SHAREHOLDERS' EQUITY

COMMON STOCK ISSUANCES

During the three months ended June 30, 2015 and 2014, the Company did not issue any shares of its common stock.

STOCK OPTIONS

On June 1, 2001, the Board of Directors approved the 2001 Stock Option Plan (`Plan"), which replaced the 1994 Stock Option Plan, as amended. The Plan was developed to provide a means whereby directors and selected employees, officers, consultants, and advisors of the Company were granted incentive or non-qualified stock options to purchase common stock of the Company. As of June 30, 2015, the Plan had expired and no shares were available to be issued. As of June 30, 2015, there were 1,102,000 options still outstanding and exercisable under the Plan. This does not include an additional 760,000 options issued after the expiration date of the Plan to directors and key employees as compensation that were not issued from the Plan.

There were no stock options issued during the three months ended June 30, 2015.

NOTE 12 - GEOGRAPHICAL INFORMATION

All sales to customers outside of the United States for the three months ended June 30, 2015 were made by the Macau Subsidiary. Sales by geographic region for the periods presented are as follows:

	2015		2014

North America	$	3,073,577	$	2,290,253
Europe		237,507		254,706
South Africa		155,790		-
	$	3,466,874	$	2,544,959

The geographic area of sales was based primarily on the location where the product is delivered.

NOTE 13 – DUE TO / FROM RELATED PARTIES, NET

During the fiscal year ended March 31, 2015, our parent company, Starlight International Holdings Limited, was renamed to Shihua Development Company Limited (“Shihua”), due to a corporate restructuring transaction. As a result of the transaction, Shihua now holds 100% of the common stock of koncepts International Limited (“koncepts”). Koncepts is a major stockholder of the Company, owning approximately 49% of our shares of common stock outstanding on a fully diluted basis as of June 30, 2015.

As of June 30, 2015 and March 31, 2015 the Company had amounts due to related parties in the amounts of $4,446,093 and $4,410,637, 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 primarily to Shihua affiliates in the amount of $3,346,093 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 $15,842 and $2,357 for the three months ended June 30, 2015 and 2014, respectively. As of June 30, 2015 and March 31, 2015 the Company had amounts due from related parties in the amounts of $94,252 and $0, respectively, consisting primarily of non-interest bearing trade receivables due from Shihua affiliates.

NOTE 14 – RELATED PARTY TRANSACTIONS

During the three months ended June 30, 2015 and June 30, 2014 the Company sold $64,903 and $316,594, respectively to Starlight Electronics Company, Ltd (“SLE”), a related party, at a discounted price, similar to prices granted to major direct import customers shipped internationally with freight prepaid. The average gross profit margin on sales to SLE for the three months ended June 30, 2015 and June 30, 2014 was 14.7% and 16.6%, respectively. The product was drop shipped to Cosmo Communications of Canada (“Cosmo”), the Company’s primary distributor of its products to Canada. During the three months ended June 30, 2015 and June 30, 2014 the Company sold an additional $113,962 and $101,161, respectively of product to Cosmo from its California warehouse facility. These amounts were included as a component of cost of goods sold in the accompanying condensed consolidated statements of operations.

The Company purchased products and services from Starlight R&D, Ltd, (“SLRD”) a related party. The purchases from SLRD for the three month periods ended June 30, 2015 and 2014 were $32,857 and $24,769, respectively. The Company purchased products from Starlight Consumer Electronics USA, Inc., (“SCE”) a related party. The purchases from SCE for the three month periods ended June 30, 2015 and 2014 were $165,893 and $1,598,200, respectively. These amounts were included as a component of cost of goods sold in the accompanying condensed consolidated statements of operations.

Effective April 1 2015, SMC-L entered into a service and logistics agreement with SCE, Cosmo and SLE, to provide logistics, fulfillment, and warehousing services for Shihua affiliated companies SCE, Cosmo and SLE’s domestic sales. For these services, Starlight USA, Cosmo and SLE have agreed to reimburse the Company for actual warehouse space occupied by these companies at $0.096 per cubic foot and for logistics services performed based on an agreed to fee schedule specified in the agreement. For the three months ended June 30, 2015 and 2014, the company received approximately $19,885 and $0, respectively. The Company estimates it will receive approximately $100,000 in expense reimbursements for the fiscal year ending March 31, 2016 related to this agreement.

Effective April 1 2014, SMC-L entered into a service and logistics agreement with SCE, Cosmo and SLE, to provide logistics, fulfillment, and warehousing services for Shihua affiliated companies SCE, Cosmo and SLE’s domestic sales. For these services, Starlight USA, Cosmo and SLE agreed to reimburse the Company for actual warehouse space occupied by these companies at $8 per pallet and for logistics services performed based on an agreed to fee schedule specified in the agreement. For the three months ended June 30, 2015 and 2014 the Company received $0 and $43,285, respectively. These amounts were included as a component of general and administrative expenses in the accompanying condensed consolidated statements of operations. This agreement expired on March 31, 2015.

NOTE 15 – WARRANTY PROVISIONS

A return program for defective goods is negotiated with each of our wholesale customers on a year-to-year basis. Customers are either allowed to return defective goods within a specified period of time after shipment (between 6 and 9 months) or granted a “defective allowance” consisting of a fixed percentage (between 1% and 5%) off of invoice price in lieu of returning defective products. The Company records liabilities for its return goods programs and defective goods allowance program at the time of sale for the estimated costs that may be incurred. The liability for defective goods is included in warranty provisions on the condensed consolidated balance sheets.

Changes in the Company’s obligations for return and allowance programs are presented in the following table:

	Three Months Ended
	June 30,			June 30,
	2015			2014
Estimated return and allowance liabilities at beginning of period	$	197,873		$	235,172
Costs accrued for new estimated returns and allowances		87,235			54,002
Return and allowance obligations honored		(132,034	)		(132,350	)
Estimated return and allowance liabilities at end of period	$	153,074		$	156,824

NOTE 13 - EMPLOYEE BENEFIT PLANS

The Company has a 401(k) plan for its employees to which the Company makes contributions at rates dependent on the level of each employee's contributions. Contributions made by the Company are limited to the maximum allowable for federal income tax purposes. The amounts charged to operations for contributions to this plan and administrative costs during the three month periods ended June 30, 2015 and 2014 totaled $9,258 and $6,720, respectively. The amounts are included as a component of general and administrative expense in the accompanying Consolidated Statements of Income. The Company does not provide any post-employment benefits to retirees.

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKING STATEMENTS

The following discussion should be read in conjunction with the condensed consolidated financial statements and notes included elsewhere in this quarterly report. This document contains certain forward-looking statements including, among others, anticipated trends in our financial condition and results of operations and our business strategy. (See Part II, Item 1A, "Risk Factors "). These forward-looking statements are based largely on our current expectations and are subject to a number of risks and uncertainties. Actual results could differ materially from these forward-looking statements.

Statements included in this quarterly report that do not relate to present or historical conditions are called “forward-looking statements.” Such forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results or outcomes to differ materially from those expressed in, or implied by, the forward-looking statements. Forward-looking statements may include, without limitation, statements relating to our plans, strategies, objectives, expectations and intentions. Words such as “believes,” “forecasts,” “intends,” “possible,” “estimates,” “anticipates,” “expects,” “plans,” “should,” “could,” “will,” and similar expressions are intended to identify forward-looking statements. Our ability to predict or project future results or the effect of events on our operating results is inherently uncertain. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved.

Important factors to consider in evaluating such forward-looking statements include, but are not limited to: (i) changes in external factors or in our internal budgeting process which might impact trends in our results of operations; (ii) unanticipated working capital or other cash requirements; (iii) changes in our business strategy or an inability to execute our strategy due to unanticipated changes in the industries in which we operate; and (iv) the effects of adverse general economic conditions, both within the United States and globally, (v) vendor price increases and decreased margins due to competitive pricing during the economic downturn (vi)various competitive market factors that may prevent us from competing successfully in the marketplace and (vii) other factors described in the risk factors section of our Annual Report on Form 10-K, this Quarterly Report on 10-Q, or in our other filings made with the SEC.

Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's opinions only as of the date hereof. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements.

OVERVIEW

Our products are sold throughout North America, Europe, Australia and South Africa primarily through major mass merchandisers and warehouse clubs, on-line retailers and to a lesser extent department stores, lifestyle merchants, direct mail catalogs and showrooms, music and record stores, and specialty stores.

Representative customers include Amazon, BJ’s Wholesale, Costco, Sam’s Club, Target, Toys R Us, and Wal-Mart. Our business has historically been subject to seasonal fluctuations causing our revenues to vary from quarter to quarter and between the same periods in different fiscal years. Our products are manufactured for the most part based on the purchase indications of our customers. We are uncertain of how significantly our business would be harmed by a prolonged economic recession, but we anticipate that continued contraction of consumer spending would negatively affect our revenues and profit margins.

RESULTS OF OPERATIONS

The following table sets forth, for the periods indicated, certain items related to our consolidated statements of operations as a percentage of net sales for the three months ended June 30, 2015 and 2014.

The Singing Machine Company, Inc. and Subsidiaries

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

	For Three Months Ended
	June 30, 2015			June 30, 2014

Net Sales		100.0	%		100.0	%

Cost of Goods Sold		75.2	%		79.7	%

Gross Profit		24.8	%		20.3	%

Operating Expenses
Selling expenses		13.2	%		13.6	%
General and administrative expenses		31.8	%		36.4	%
Depreciation		1.1	%		1.2	%

Total Operating Expenses		46.1	%		51.2	%

Loss from Operations		-21.3	%		-30.9	%

Other Expenses
Interest expense		-1.5	%		-0.1	%
Finance Costs		-0.5	%		0.0	%

Total Other Expenses		-2.0	%		-0.1	%

Loss before income tax benefit		-23.3	%		-31.0	%

Income tax benefit		9.0	%		11.4	%

Net Income		-14.3	%		-19.6	%

QUARTER ENDED JUNE 30, 2015 COMPARED TO THE QUARTER ENDED JUNE 30, 2014

NET SALES

Net sales for the quarter ended June 30, 2015 increased to $3,466,874 from $2,544,959, an increase of $921,915 as compared to the same period ended June 30, 2014. This increase was primarily due to an increase in sales to two major retail customers of approximately $1,310,000 due from replenishment to meet expected spring and summer sales expectations. There was also an increase of approximately $160,000 in direct import sales to a new distributor in South Africa. This sales increase was offset by a reduction in sales to a related party of approximately $210,000 and a reduction of approximately $260,000 to a major retailer that opted not to run the same spring promotion program they ran in the previous year. The remaining sales reduction of approximately $80,000 came from overall reduced restocking requirements of other customers.

GROSS PROFIT

Gross profit for the quarter ended June 30, 2015 increased to $858,421 from $515,891 an increase of $342,530 as compared to the same period in the prior year. Approximately 65% of the gross profit increase was commensurate with the increase in net sales as explained above with the remaining 35% increase due to increased gross profit margin percentage on net sales as explained below.

As a percentage of revenues, gross profit margin for the three months ended June 30, 2015 was 24.8% compared to 20.3% for the three months ended June 30, 2014. This 4.5% increase in gross profit margin points was primarily due to the increased sales of higher margin products to major domestic retail customers for the three months ended June 30, 2015 which accounted for approximately 2.1% of the margin increase with the remaining increase due primarily to favorable product mix to other customers and reductions in product cost from the same period in the prior year.

OPERATING EXPENSES

For the quarter ended June 30, 2015, total operating expenses increased to $1,597,041 compared to $1,303,469 from the same period in the prior year. This represents an increase in total operating expenses of $293,572 from the quarter ended June 30, 2014. Selling expenses increased by approximately $112,000 primarily due to an increase in advertising allowance expense associated with the increase in net sales to one major retail customer and an additional investment in co-op advertising programs with this same customer.

General and administrative expenses increased by approximately $173,110 to $1,101,981 for the three months ended June 30, 2015 compared to $928,871 for the same period ended June 30, 2014. Legal and professional services increased by approximately $20,000 due to field audit and appraisal services provided by PNC Bank as required by our revolving credit facility, an increase of approximately $90,000 in product repair fees from vendors partially due to the timing of returns of repaired goods, an increase of approximately $29,000 in temporary warehouse labor and an increase in payroll expenses of approximately $20,000 due to sales incentives for the net sales increase as well as the hiring of a sales/inventory control analyst. The remaining increase in general and administrative expenses was primarily due to various other variable expenses and was commensurate with the increase in net sales.

LOSS FROM OPERATIONS

Loss from operations decreased $48,958 this quarter to $738,620 for the three months ended June 30, 2015 compared to a loss from operations of $787,578 for the same period ended June 30, 2014. An increase in gross profit margin contributed approximately $343,000 to the decreased loss due to increased sales as explained in Net Sales and Gross Profit above and was offset by an increase in selling, general and administrative expenses of approximately $294,000 as discussed in Operating Expenses above.

INCOME TAXES

The Company recorded an income tax benefit of approximately $312,000 due to the loss from operations during the three months ended June 30, 2015 which generated an additional current deferred tax asset of approximately $312,000 as of June 30, 2015. The income tax benefit was based on management’s best estimate of the Company’s full year effective tax rate of approximately 39%. Due to the seasonality of the business, the Company is expected to fully reverse this increase in deferred tax asset during the fiscal year ending March 31, 2016. For the three months ended June 30, 2014, the Company recorded an income tax benefit of approximately $290,000 due to the loss from operations which generated an additional current deferred tax asset of approximately $290,000 as of June 30, 2014.

NET LOSS

For the three months ended June 30, 2015 net loss decreased to $494,926 compared to a net loss of $499,529 for the same period a year ago. The decrease in net loss was primarily due to the same reasons discussed in loss from operations and income taxes.

LIQUIDITY AND CAPITAL RESOURCES

As of June 30, 2015, Singing Machine had cash on hand of $363,410 with no restrictions as compared to cash on hand of $502,872 of which $138,042 was restricted as collateral for a stand-by letter of credit on June 30, 2014. We had working capital of $3,553,837 as of June 30, 2015.

Net cash used in operating activities was $1,244,628 for the three months ended June 30, 2015, as compared to $1,037,701 used in operating activities the same period a year ago. During the three month period ending June 30, 2015 there was a loss before income tax benefit of approximately $807,000 due primarily to increased gross profit margin offset by increased selling and administrative expenses as explained in Net Sales, Gross Profit and Operating Expenses above. Inventory increased approximately $625,000 due to seasonal returns and purchases for sales in the upcoming quarter. This inventory increase was offset by an increase in accrued expenses of approximately $183,000 during the three month period ended June 30, 2015 primarily due to an increase in accrued advertising allowance associated with incremental sales.

Net cash used in operating activities was $1,037,701 for the three months ended June 30, 2014. During the three month period ending June 30, 2014 there was a loss before income tax benefit of approximately $790,000 due primarily to increased gross profit margin offset by increased selling and administrative expenses as explained in Net Sales, Gross Profit and Operating Expenses above. The Company also increased its accounts payable and net due to related parties by approximately $5,500,000 which was offset by an increase in inventory of approximately $5,700,000 during the three month period ended June 30, 2014 in anticipation of upcoming seasonal customer sales.

Net cash used by investing activities for the three months ended June 30, 2015 was $42,157 as compared to $33,013 used by investing activities for the same period ended a year ago. This increase in investment activity was due to an increase in investment of tooling and molds for new products during the three month period ended June 30, 2015 as compared to the three months ended June 30, 2014.

Net cash provided by financing activities for the three month period ended June 30, 2015 was $1,533,909 compared to cash provided by financing activities of $81,445 for the same period ended a year ago. Financing activities for the three month period ended June 30, 2015 were primarily from borrowings on the revolving line of credit which allowed advances against inventory as compared to previous line of credit in place for the period ended June 30, 2014 which did not allow for advances on inventory.

Forward-looking liquidity and capital resources: As previously announced, SMC on July 14. 2014 entered into a 3-year Revolving Credit Facility with PNC Bank which provides for a near-tripling of our credit availability and at more attractive pricing than the previous factoring arrangement with Crestmark Bank. In addition to our current bank financing, the Shihua Group has expressed their willingness and ability to provide extended payment terms to us for key vendor payments primarily by extending longer payment terms for goods they manufacture for us. We do not believe we will require any bridge financing from the Shihua Group for the fiscal year ending March 31, 2016, however we will continue to take advantage of extended terms for trade payables with the Shihua Group throughout the year. During the three months ended June 30, 2015, our related party debt decreased by approximately $59,000 primarily due to increases in related-party inventory repair invoices. Taking into account internally generated funds and credit facilities available to Shihua we have concluded that our parent will have sufficient working capital to provide extended trade payable terms to us for at least the next 12 months.

Our average monthly general and administrative expenses are approximately $370,000. We expect that we will require approximately $1,100,000 for working capital during the next three-month period.

During the next 12 month period, we plan on financing our operation needs by:

Collecting our existing accounts receivable;

Selling existing inventory;

Vendor financing;

Borrowing from the Revolving Credit facility;

Extended payment terms from our majority shareholder;

Fees for fulfillment, delivery and returns services from related and non-related parties.

Our sources of cash for working capital in the long term, 12 months and beyond are essentially the same as our sources during the short term. As of June 30, 2015, we continued to borrow from our asset based lending facility with PNC Bank N.A. which provides for a maximum loan amount of $15,000,000 during peak selling season and reduces to $7,500,000 during the off-peak season. We believe this credit facility will be adequate to maintain and grow our business during the three-year term of the agreement. If we are unable to comply with the financial covenants defined in the financing agreement and default on the credit facility, it may have a material adverse effect on our ability to meet our financial obligations and to continue as a going concern.

INVENTORY SELL THROUGH

We monitor the inventory levels and sell through activity of our major customers to properly anticipate defective returns and maintain the appropriate level of inventory. We believe that our warranty provision reflects the proper amount of reserves to cover potential defective sales returns based on historical return ratios and information available from the customers.

SEASONAL AND QUARTERLY RESULTS

Historically, our operations have been seasonal, with the highest net sales occurring in our second and third fiscal quarters (reflecting increased orders for systems and music merchandise during the Christmas holiday season) and to a lesser extent the first and fourth quarters of the fiscal year. Sales in our second and third fiscal quarters, combined, accounted for approximately 87% and 88% of net sales in fiscal 2015 and 2014, respectively.

Our results of operations may also fluctuate from quarter to quarter as a result of the amount and timing of orders placed and shipped to customers, as well as other factors. The fulfillment of orders can therefore significantly affect results of operations on a quarter-to-quarter basis.

We are currently developing and considering selling products other than those within the karaoke category during the slow season to fulfill the revenue shortfall.

INFLATION

Inflation has not had a significant impact on our operations. We generally have adjusted our prices to track changes in the Consumer Price Index since prices we charge are generally not fixed by long-term contracts.

OFF-BALANCE SHEET ARRANGEMENTS

We do not have any off balance sheet arrangements that are reasonably likely to have a current or future effect on our financial condition, revenues, results of operations, liquidity or capital expenditures.

CRITICAL ACCOUNTING POLICIES

We prepared our condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America. As such, management is required to make certain estimates, judgments and assumptions that it believes are reasonable based on the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses for the periods presented. The significant accounting policies which management believes are the most critical to aid in fully understanding and evaluating our reported financial results include: accounts receivable allowance for doubtful accounts, reserves on inventory, deferred tax assets and our Macau income tax exemption.

COLLECTIBILITY OF ACCOUNTS RECEIVABLE. Our allowance for doubtful accounts is based on management's estimates of the creditworthiness of our customers, current economic conditions and historical information, and, in the opinion of management, is believed to be an amount sufficient to respond to normal business conditions. Management sets 100% reserves for customers in bankruptcy and other reserves based upon historical collection experience. Should business conditions deteriorate or any major customer default on its obligations to the Company, this allowance may need to be significantly increased, which would have a negative impact on operations.

RESERVES ON INVENTORIES. We establish a reserve on inventory based on the expected net realizable value of inventory on an item-by-item basis when it is apparent that the expected realizable value of an inventory item falls below its original cost. A charge to cost of sales results when the estimated net realizable value of specific inventory items declines below cost. Management regularly reviews the Company's investment in inventories for such declines in value.

INCOME TAXES. Significant management judgment is required in developing our provision for income taxes, including the determination of foreign tax liabilities, deferred tax assets and liabilities and any valuation allowances that might be required against the deferred tax assets. Management evaluates its ability to realize its deferred tax assets on a quarterly basis and adjusts its valuation allowance when it believes that it is more likely than not that the asset will not be realized.

We operate within multiple taxing jurisdictions and are subject to audit in those jurisdictions. Because of the complex issues involved, any claims can require an extended period to resolve. In management's opinion, adequate provisions for potential income taxes in the jurisdiction have been made.

USE OF OTHER ESTIMATES. We make other estimates in the ordinary course of business relating to sales returns and allowances, warranty reserves, and reserves for promotional incentives. Historically, past changes to these estimates have not had a material impact on our financial condition. However, circumstances could change which may alter future expectations.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required for small reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

(a) Evaluation of Disclosure Controls and Procedures. As of the end of the period covered by this report, we conducted an evaluation, under the supervision and with the participation of our chief executive officer and chief financial officer of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act). Based upon this evaluation, our chief executive officer and chief financial officer concluded that our disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules and forms and is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

(b) Changes in Internal Controls. There was no change in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Rules 13a-15 or 15d-15 under the Exchange Act that occurred during the end of the period covered by this report that has materially affected, or is reasonably likely to materially affect our internal control over financial reporting.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Management is currently not aware of any legal proceedings.

ITEM 1A. RISK FACTORS

Not applicable for smaller reporting companies

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

We are not currently in default upon any of our senior securities.

ITEM 4. MINE SAFETY DISCLOSURES

None.

ITEM 5. OTHER INFORMATION

None.

ITEM 6. EXHIBITS

31.1

Certification of Gary Atkinson, Chief Executive Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended.*

31.2

Certification of Lionel Marquis, Chief Financial Officer pursuant to Rule 13a-14(a) of the Securities Exchange Act of 1934, as amended.*

32.1

Certifying Statement of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act.*

32.2

Certifying Statement of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act.*

101.INS

XBRL Instance Document *

101.SCH

XBRL Taxonomy Extension Schema Document *

101.CAL

XBRL Taxonomy Extension Calculation Linkbase Document *

101.DEF

XBRL Taxonomy Extension Definition Linkbase Document *

101.LAB

XBRL Taxonomy Extension Label Linkbase Document *

101.PRE

XBRL Taxonomy Extension Presentation Linkbase Document *

* Filed herewith

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

THE SINGING MACHINE COMPANY, INC.

Date: August 14, 2015

	By:	/s/ Gary Atkinson
		Gary Atkinson
		Chief Executive Officer

		/s/ Lionel Marquis
		Lionel Marquis
		Chief Financial Officer

EX-31.1 2 v417421_ex31-1.htm EXHIBIT 31.1

EXHIBIT 31.1

CERTIFICATIONS

I, Gary Atkinson, certify that:

1. I have reviewed this quarterly report on Form 10-Q of The Singing Machine Company, Inc. for the period ended June 30, 2015;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal controls over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

	/s/ Gary Atkinson

	Gary Atkinson
	Chief Executive Officer
	(Principal Executive Officer)

	Date: August 14, 2015

EX-31.2 3 v417421_ex31-2.htm EXHIBIT 31.2

EXHIBIT 31.2

CERTIFICATIONS

I, Lionel Marquis, certify that:

1. I have reviewed this quarterly report on Form 10-Q of The Singing Machine Company, Inc. for the period ended June 30, 2015;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

	/s/ Lionel Marquis

	Lionel Marquis
	Chief Financial Officer
	(Principal Accounting and Financial Officer)

	Date: August 14, 2015

EX-32.1 4 v417421_ex32-1.htm EXHIBIT 32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of The Singing Machine Company, Inc. (the "Company") on Form 10-Q for the period ended June 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Gary Atkinson, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

A signed original of this written statement required by Section 906 has been provided to The Singing Machine Company, Inc. and will be retained by The Singing Machine Company, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

	/S/ Gary Atkinson

	Gary Atkinson
	Chief Executive Officer
	(Principal Executive Officer)

	Date: August 14, 2015

EX-32.2 5 v417421_ex32-2.htm EXHIBIT 32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906

OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of The Singing Machine Company, Inc. (the "Company") on Form 10-Q for the period ended June 30, 2015 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Lionel Marquis, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

	/S/ Lionel Marquis

	Lionel Marquis
	Chief Financial Officer
	(Principal Accounting and Financial Officer)
	Date: August 14, 2015

EX-101.INS 6 smdm-20150630.xml XBRL INSTANCE DOCUMENT 0000923601 2015-03-31 0000923601 2014-04-01 2015-03-31 0000923601 2014-04-01 2014-06-30 0000923601 2015-04-01 2015-06-30 0000923601 2015-06-30 0000923601 2015-08-14 0000923601 2014-03-31 0000923601 2014-06-30 0000923601 smdm:PncBankMember 2015-06-30 0000923601 smdm:PncBankMember 2015-03-31 0000923601 us-gaap:CommonClassBMember 2015-03-31 0000923601 us-gaap:CommonClassAMember 2015-03-31 0000923601 us-gaap:CommonClassBMember 2015-06-30 0000923601 us-gaap:CommonClassAMember 2015-06-30 0000923601 smdm:StarlightRAndDLtdMember 2015-03-31 0000923601 smdm:CosmoCommunicationsCanadaLtdMember 2015-03-31 0000923601 smdm:StarlightConsumerElectronicsCoLtdMember 2015-03-31 0000923601 smdm:StarlightMarketingDevelopmentLtdMember us-gaap:SubordinatedDebtMember 2015-03-31 0000923601 smdm:StarlightRAndDLtdMember 2015-06-30 0000923601 smdm:CosmoCommunicationsCanadaLtdMember 2015-06-30 0000923601 smdm:StarlightConsumerElectronicsCoLtdMember 2015-06-30 0000923601 smdm:StarlightMarketingDevelopmentLtdMember us-gaap:SubordinatedDebtMember 2015-06-30 0000923601 smdm:RamLightManagementLtdMember 2015-06-30 0000923601 smdm:RamLightManagementLtdMember 2015-03-31 0000923601 smdm:RamLightManagementLtdMember us-gaap:SubordinatedDebtMember 2015-06-30 0000923601 smdm:RamLightManagementLtdMember us-gaap:SubordinatedDebtMember 2015-03-31 0000923601 smdm:UnitedStatesBankMember 2015-06-30 0000923601 smdm:WarehouseEquipmentMember 2015-06-30 0000923601 smdm:MoldsAndToolingMember 2015-06-30 0000923601 smdm:ComputerAndOfficeEquipmentMember 2015-03-31 0000923601 us-gaap:FurnitureAndFixturesMember 2015-03-31 0000923601 smdm:WarehouseEquipmentMember 2015-03-31 0000923601 smdm:MoldsAndToolingMember 2015-03-31 0000923601 smdm:ComputerAndOfficeEquipmentMember 2015-04-01 2015-06-30 0000923601 smdm:ComputerAndOfficeEquipmentMember 2015-06-30 0000923601 smdm:WarehouseEquipmentMember 2015-04-01 2015-06-30 0000923601 us-gaap:FurnitureAndFixturesMember 2015-06-30 0000923601 smdm:RelatedPartyMember 2015-06-30 0000923601 smdm:PeakSellingSeasonBetweenAugust1AndDecember31Member us-gaap:RevolvingCreditFacilityMember 2015-04-01 2015-06-30 0000923601 smdm:PeakSellingSeasonBetweenJanuary1AndJuly31Member us-gaap:RevolvingCreditFacilityMember 2015-04-01 2015-06-30 0000923601 us-gaap:RevolvingCreditFacilityMember 2015-04-01 2015-06-30 0000923601 us-gaap:RevolvingCreditFacilityMember 2015-06-30 0000923601 smdm:StarlightMarketingDevelopmentLtdMember us-gaap:RevolvingCreditFacilityMember 2015-06-30 0000923601 smdm:StarlightMarketingDevelopmentLtdMember us-gaap:RevolvingCreditFacilityMember 2015-04-01 2015-06-30 0000923601 smdm:RamLightNoteMember 2015-04-01 2015-06-30 0000923601 smdm:RamLightNoteMember 2014-04-01 2014-06-30 0000923601 smdm:WellsFargoEquipmentFinanceMember 2013-04-01 2013-04-13 0000923601 smdm:WellsFargoEquipmentFinanceMember 2015-03-31 0000923601 smdm:WellsFargoEquipmentFinanceMember 2015-06-30 0000923601 us-gaap:RevolvingCreditFacilityMember 2014-04-01 2014-06-30 0000923601 us-gaap:FurnitureAndFixturesMember us-gaap:MinimumMember 2015-04-01 2015-06-30 0000923601 us-gaap:FurnitureAndFixturesMember us-gaap:MaximumMember 2015-04-01 2015-06-30 0000923601 smdm:MoldsAndToolingMember us-gaap:MinimumMember 2015-04-01 2015-06-30 0000923601 smdm:MoldsAndToolingMember us-gaap:MaximumMember 2015-04-01 2015-06-30 0000923601 smdm:RamLightManagementLtdMember 2015-04-01 2015-06-30 0000923601 us-gaap:UnusedLinesOfCreditMember 2015-04-01 2015-06-30 0000923601 us-gaap:NorthAmericaMember 2015-04-01 2015-06-30 0000923601 us-gaap:EuropeMember 2015-04-01 2015-06-30 0000923601 smdm:SouthAfricaMember 2015-04-01 2015-06-30 0000923601 us-gaap:NorthAmericaMember 2014-04-01 2014-06-30 0000923601 us-gaap:EuropeMember 2014-04-01 2014-06-30 0000923601 smdm:SouthAfricaMember 2014-04-01 2014-06-30 0000923601 smdm:StarlightAffiliatesMember 2015-04-01 2015-06-30 0000923601 smdm:StarlightAffiliatesMember 2014-04-01 2014-06-30 0000923601 smdm:StarlightAffiliatesMember 2015-06-30 0000923601 smdm:StarlightAffiliatesMember 2015-03-31 0000923601 smdm:StarlightRdLtdMember 2014-04-01 2014-06-30 0000923601 smdm:StarlightUsaCosmoAndSecMember 2015-04-01 2015-06-30 0000923601 smdm:CosmoCommunicationsUsaIncMember 2015-04-01 2015-06-30 0000923601 smdm:CosmoCommunicationsUsaIncMember 2014-04-01 2014-06-30 0000923601 smdm:StarlightRdLtdMember 2015-04-01 2015-06-30 0000923601 smdm:StarlightConsumerElectronicsUsaIncMember 2015-04-01 2015-06-30 0000923601 smdm:StarlightConsumerElectronicsUsaIncMember 2014-04-01 2014-06-30 0000923601 smdm:SecCosmoUsaAndStarlightElectronicsUsaMember 2015-04-01 2015-06-30 0000923601 smdm:SecCosmoUsaAndStarlightElectronicsUsaMember 2014-04-01 2014-06-30 0000923601 smdm:StarlightUsaCosmoAndSecMember us-gaap:SubsequentEventMember 2015-04-01 2015-06-30 0000923601 smdm:StarlightUsaCosmoAndSecMember 2014-04-01 2014-06-30 0000923601 smdm:StockOptionPlan2001Member 2015-06-30 0000923601 smdm:StarlightElectronicsCompanyLtdMember 2015-06-30 0000923601 smdm:StarlightElectronicsCompanyLtdMember 2015-03-31 0000923601 smdm:StarlightMarketingDevelopmentLtdMember 2015-06-30 0000923601 smdm:ShihuaDevelopmentCompanyLimitedMember 2015-06-30 0000923601 smdm:KonceptsInternationalLimitedMember 2015-06-30 0000923601 smdm:PncBankMember 2015-04-01 2015-06-30 0000923601 smdm:PncBankMember 2014-04-01 2014-06-30 0000923601 us-gaap:ScenarioForecastMember 2015-04-01 2015-06-30 0000923601 us-gaap:UnusedLinesOfCreditMember 2014-04-01 2014-06-30 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure 10-Q false 2015-06-30 2016 Q1 SINGING MACHINE CO INC 0000923601 --03-31 Smaller Reporting Company SMDM 38117517

7448167

8110348

92609

90695

449274

761599

9783996

11168009

466571

471395

11394

1856281

12213925

13584243

137415

1673628

1466168

363410

116286

2767180

381175

19307966

3025272

554031

40256

12213925

13584243

208672

1924431

582072

256343

8287961

10151204

1924431

452651

617901

12628

10601

399419

10361

197873

153074

5712453

7614172

1078

19309967

-15763177

-16258103

3925964

3433039

74077

77164

95683

63778

551177

496496

548823

603504

2544959

3466874

2029068

2608453

515891

858421

345267

457727

928871

1101981

29331

37333

1303469

1597041

-787578

-738620

-289891

-312325

-499529

-494926

1842

50112

-789420

-807251

-68631

-1842

18519

-44799

29331

37333

5701055

624621

80613

-1914

659

4879506

258092

-37560

-23757

-127433

32398

2001

-78348

289891

312325

70487

80027

642540

-58796

97275

182533

25588 -389058

-1037701

-1244628

33013

42157

-33013

-42157

2969

3105

81445

1533909

-989269

247124

1354099

364830

1842

9665

18519

250000

23794

329731

1 0.02 0.09

199720

279356

7893750

7869167

421000

383440

224106

2399290

2404630

2441963

285650

4312

224106

2357133

P5Y

285650

P7Y

4312

1576

0.01 14506 0

2500000

1683247

15000000

7500000

2017-07-14

0.02

0.035

1 0.65

2500000

222000

1100000

17283

36388

1082 P36M 0.045

13706

10601

12984

10820

1078

356

219

13706

10601

142

277

235172

54002

87235

132350

132034

156824

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="center"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">NOTE 1  BASIS OF PRESENTATION</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">OVERVIEW</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Singing Machine Company, Inc., a Delaware corporation (the “Company”, “SMC”, “The Singing Machine”) and its three wholly-owned subsidiaries SMC (Comercial Offshore De Macau) Limitada (“Macau Subsidiary”), SMC Logistics, Inc. (“SMC-L”) and SMC-Music, Inc.(“SMC-M”) are primarily engaged in the development, marketing, and sale of consumer karaoke audio systems, accessories, musical instruments and musical recordings. The products are sold by SMC to retailers and distributors for resale to consumers</font><font style="FONT-SIZE: 10pt">.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">NOTE 2-SUMMARY OF ACCOUNTING POLICIES</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The condensed consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in the condensed consolidated financial statements. The accompanying unaudited financial statements for the three months ended June 30, 2015 and 2014 have been prepared in accordance with generally accepted accounting principles applicable to interim financial information and the requirements of Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete consolidated financial statements. In the opinion of management, such condensed consolidated financial statements include all adjustments (consisting of normal recurring accruals) necessary for the fair presentation of the condensed consolidated financial position and the condensed consolidated results of operations. The condensed consolidated results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet information as of March 31, 2015 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K. The interim condensed consolidated financial statements should be read in conjunction with that report.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"> </font></b> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: left; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>USE OF ESTIMATES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: left; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Singing Machine makes estimates and assumptions in the ordinary course of business relating to sales returns and allowances, warranty reserves, inventory reserves and reserves for promotional incentives that affect the reported amounts of assets and liabilities and of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Future events and their effects cannot be determined with absolute certainty; therefore, the determination of estimates requires the exercise of judgment. Historically, past changes to these estimates have not had a material impact on the Company's financial condition. However, circumstances could change which may alter future expectations.</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"></font></b> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">COLLECTIBILITY OF ACCOUNTS RECEIVABLE</font></b></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">The Singing Machine's allowance for doubtful accounts is based on management's estimates of the creditworthiness of its customers, current economic conditions and historical information, and, in the opinion of management, is believed to be in an amount sufficient to respond to normal business conditions. Management sets <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 100</font>% reserves for customers in bankruptcy and other reserves based upon historical collection experience. Should business conditions deteriorate or any major customer default on its obligations to the Company, this allowance may need to be significantly increased, which would have a negative impact on operations.</font></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"> </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>FOREIGN CURRENCY TRANSLATION</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The functional currency of the Macau Subsidiary is the Hong Kong dollar. The financial statements of the subsidiaries are translated to U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses. Net gains and losses resulting from foreign exchange transactions and translations were not material during the periods presented.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="TEXT-TRANSFORM: uppercase; FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Concentration of Credit Risk</font></b></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">At times, the Company maintains cash in United States bank accounts that are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured amounts of up to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">250,000</font>. As of June 30, 2015 and March 31, 2015, the Company had no cash deposits that exceeded the FDIC insurance limit. The Company maintains cash balances in foreign financial institutions. The amounts in foreign financial institutions at June 30, 2015 and March 31, 2015 were $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">329,731</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">23,794</font>, respectively.</font></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>INVENTORY</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="left"><font style="FONT-SIZE: 10pt">Inventories are comprised primarily of electronic karaoke equipment, microphones and accessories, and are stated at the lower of cost or market, as determined using the first in, first out method. The Singing Machine reduces inventory on hand to its net realizable value on an item-by-item basis when it is apparent that the expected realizable value of an inventory item falls below its original cost. A charge to cost of sales results when the estimated net realizable value of specific inventory items declines below cost. Management regularly reviews the Company's investment in inventories for such declines in value.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>COMPUTATION OF EARNINGS PER SHARE</font></b></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Loss per common share is computed by dividing net loss by the weighted average of common shares outstanding during the period. Diluted net income per share is presented as the conversion of stock options would have a dilutive effect. As of June 30, 2015 and 2014 total potential dilutive shares amounted to approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 880,000</font> and <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 74,000</font> shares, respectively, however these shares were not included in the computation of diluted earnings per share for the three months ended June 30, 2015 and June 30, 2014 because their effect was anti-dilutive.</font></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>REVENUE RECOGNITION</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Revenue from the sale of equipment, accessories, musical recordings and subscriptions and third party logistics services are recognized upon the later of: (a) the time of shipment or (b) when title passes to the customers and all significant contractual obligations and services have been satisfied and collection of the resulting receivable is reasonably assured. Net sales are comprised of gross sales net of actual and estimated future returns, discounts and volume rebates.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>STOCK BASED COMPENSATION</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="left"><font style="FONT-SIZE: 10pt">The Company follows the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”)</font> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">718-20, “Compensation  Stock Compensation Awards Classified as Equity”. ASC 718-20 requires all share-based payments to employees including grants of employee stock options, be measured at fair value and expensed in the condensed consolidated statements of operations over the service period (generally the vesting period). The Company uses the Black-Scholes option valuation model to value stock options. Employee stock option compensation expense for the three months ended June 30, 2015 and 2014 includes the estimated fair value of options granted, amortized on a straight-line basis over the requisite service period for the entire portion of the award. For the three months ended June 30, 2015 and 2014, the stock option expense was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,001</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">32,398</font>, respectively.</font></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.25in"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>ADVERTISING</font></b></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Costs incurred for producing and publishing advertising of the Company are charged to operations the first time the advertising takes place. The Company has entered into cooperative advertising agreements with its major customers that specifically indicated that the customer has to spend the cooperative advertising fund upon the occurrence of mutually agreed events. The percentage of the cooperative advertising allowance ranges from <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2</font>% to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9</font>% of the purchase. The customers have to advertise the Company's products in the customer's catalog, local newspaper and other advertising media. The customer must submit the proof of the performance (such as a copy of the advertising showing the Company’s products) to the Company to request for the allowance. The customer does not have the ability to spend the allowance at their discretion. The Company believes that the identifiable benefit from the cooperative advertising program and the fair value of the advertising benefit is equal or greater than the cooperative advertising expense. Advertising expense for the three months ended June 30, 2015 and 2014 was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">279,356</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">199,720</font>, respectively.</font></font> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>RESEARCH AND DEVELOPMENT COSTS</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Research and development costs are charged to results of operations as incurred. These expenses are shown as a component of selling, general and administrative expenses in the condensed consolidated statements of operations. For the three months ended June 30, 2015 and 2014, these amounts totaled $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">32,120</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">28,200</font> respectively.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>FAIR VALUE OF FINANCIAL INSTRUMENTS</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The Company adopted FASB ASC 825, “Financial Instruments”, which requires disclosures of information about the fair value of certain financial instruments for which it is practicable to estimate that value. For purposes of this disclosure, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The carrying amounts of the Company's short-term financial instruments, including accounts receivable, accounts payable, obligations to customers for returns and allowances, warranty provision, accrued expenses and net due to related parties approximates fair value due to the relatively short period to maturity for these instruments.</font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>INCOME TAXES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company follows the provisions of FASB ASC 740 "Accounting for Income Taxes." Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. If it is more likely than not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company analyzes its deferred tax assets and liabilities at the end of each interim period and, based on management’s best estimate of its full year effective tax rate, recognizes cumulative adjustments to its deferred tax assets and liabilities. The Company’s effective tax rate for the fiscal year ending March 31, 2016 is estimated to be approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 39</font>%. The effective tax rate for the full year ended March 31, 2015 was approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 35</font>%.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> As of June 30, 2015 and March 31, 2015, The Singing Machine had gross deferred tax assets of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3.3</font> million and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3.0</font> million, respectively, against which the Company recorded valuation allowances totaling approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.7</font> million. A valuation allowance was recorded against deferred tax assets because it is more likely than not that a portion of the tax benefits from the gross deferred tax assets will not be realized. For the three month period ended June 30, 2015, the Company recorded a loss before income tax benefit of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">807,000</font> which generated an additional current deferred tax asset and income tax benefit of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">312,000</font>. Due to the seasonality of the business, the Company is expected to reverse this increase in deferred tax asset during the remainder of fiscal year ending March 31, 2016.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">The Company recognizes a liability for uncertain tax positions. An uncertain tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax return that is not based on clear and unambiguous tax law and which is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. As of June 30, 2015, there were no uncertain tax positions that resulted in any adjustment to the Company’s provision for income taxes. The Company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes. The Company currently has no liabilities recorded for accrued interest or penalties related to uncertain tax provisions.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">As of June 30, 2015, the Company is subject to U.S. Federal income tax examinations for the tax years ended March 31, 2012 through March 31, 2015.</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>LONG-LIVED ASSETS</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">The Company reviews long-lived assets for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recoverable. If the undiscounted future cash flows attributable to the related assets are less than the carrying amount, the carrying amounts are reduced to fair value and an impairment loss is recognized in accordance with FASB ASC 360-10-05, "Accounting for the Impairment or Disposal of Long-Lived Assets."</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>PROPERTY AND EQUIPMENT</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is provided for in amounts sufficient to relate the cost of depreciable assets to their estimated useful lives using accelerated and straight-line methods.</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"><b><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>SHIPPING AND HANDLING COSTS</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">Shipping and handling costs are classified as a component of selling expenses and those billed to customers are recorded as a reduction of expense in the consolidated statements of income.</div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"></font></b> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">RECENT ACCOUNTING PRONOUNCEMENTS</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09 which outlines a single comprehensive model for companies to use when accounting for revenue arising from contracts with customers. The core principle of the revenue recognition model is that an entity recognizes revenue to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In order to achieve this core principle a company must apply the following steps in determining revenue recognition:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Identify the contract(s) with a customer</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Identify the performance obligations in the contract.</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Determine the transaction price.</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Allocate the transaction price to the performance obligations in the contract.</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Recognize revenue when (or as) the entity satisfies a performance obligation.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 1in"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period with early application allowed <font style="LINE-HEIGHT: 115%; FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> beginning with reporting periods after December 15, 2016</font>. Management is currently assessing whether the implementation of ASU 2014-09 will have any material effect on the company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In June 2014, the FASB issued ASU 2014-12, <i>Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.</i> The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. An entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU is effective for all entities for reporting periods beginning after December 15, 2015. The implementation of ASU 2014-12 is not expected to have any material effect on the company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In August 2014, the FASB issued ASU 2014-15, <i>Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</i>. The ASU requires that at every interim and annual period, management determine whether conditions or events exist which raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management’s initial consideration of the relevant conditions and events indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate these factors will alleviate that substantial doubt. The mitigating effect is considered only if it is probable that the plan will be effectively implemented and probable that the plans will mitigate the conditions or events that raised the substantial doubt. If management’s plans will alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the conditions or events that raised substantial doubt and management’s plans that alleviated those concerns. If management’s plans will not alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the same conditions and events along with management’s plans that did not alleviate the substantial doubt, in addition to a statement that indicates there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and for interim periods within annual periods beginning after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-15 will have any material effect on the company’s consolidated financial statement disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In January 2015, the FASB issued ASU 2015-01, <i>Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.</i> To be considered an extraordinary item under existing Generally Accepted Accounting Principles, an event or transaction that is identified as both unusual in nature and occurs infrequently must be segregated as an extraordinary item from results or ordinary operations, separately presented as an extraordinary item on an entity’s income statement, net of tax, after income from continuing operations and an entity must disclose income taxes and earnings per share data applicable to the extraordinary item. While the ASU eliminates the requirement to segregate and separately report an event that is identified as an extraordinary item it does not affect the reporting and disclosure requirements for an extraordinary item. ASU 2015-01 is effective for periods beginning after December 15, 2015 and interim periods within those annual periods. The implementation of ASU 2015-01 is not expected to have any material effect on the company’s consolidated financial statement disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="COLOR: #313131; FONT-SIZE: 10pt">In April 2015, the FASB issued ASU 2015-03, <i>Simplifying the Presentation of Debt Issuance Costs.</i> The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense”. Any debt issuance costs incurred before the associated funding is received should be reported on the balance sheet as deferred charges until the debt liability amount is recorded. The guidance in ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued with the new guidance to be applied retrospectively to all prior periods.</font> <font style="FONT-SIZE: 10pt">Management is currently assessing whether the implementation of ASU 2015-03 will have any material effect on the company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In July 2015, the FASB issued ASU 2015-11, <i>Simplifying the Measurement of Inventory.</i> The ASU requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out (LIFO) and the retail inventory method (RIM) are not impacted by the new guidance. <font style="COLOR: #313131">The guidance in ASU 2015-11 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. The new guidance should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period.</font> Management is currently assessing whether the implementation of ASU 2015-11 will have any material effect on the company’s consolidated financial statements.<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font></font></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.25in"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><b><font style="FONT-SIZE: 10pt"> ADVERTISING</font></b></div> <font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt">Costs incurred for producing and publishing advertising of the Company are charged to operations the first time the advertising takes place. The Company has entered into cooperative advertising agreements with its major customers that specifically indicated that the customer has to spend the cooperative advertising fund upon the occurrence of mutually agreed events. The percentage of the cooperative advertising allowance ranges from <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2</font>% to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">9</font>% of the purchase. The customers have to advertise the Company's products in the customer's catalog, local newspaper and other advertising media. The customer must submit the proof of the performance (such as a copy of the advertising showing the Company’s products) to the Company to request for the allowance. The customer does not have the ability to spend the allowance at their discretion. The Company believes that the identifiable benefit from the cooperative advertising program and the fair value of the advertising benefit is equal or greater than the cooperative advertising expense. Advertising expense for the three months ended June 30, 2015 and 2014 was $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">279,356</font> and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">199,720</font>, respectively.</font></font> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

880000

74000

32120

28200

-0.01

38117517

38070642

1537014

84414

600038

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">A summary of property and equipment is as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 80%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>USEFUL</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>June 30,</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>March 31,</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>LIFE</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>(unaudited)</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>(audited)</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div>Computer and office equipment</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>5 years</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>285,650</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>285,650</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div>Furniture and fixtures</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>5-7 years</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>4,312</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>4,312</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div>Warehouse equipment</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>7 years</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>224,106</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>224,106</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div>Molds and tooling</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>3-5 years</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,399,290</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,357,133</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>2,913,358</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>2,871,201</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div>Accumulated depreciation</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,441,963</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,404,630</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="42%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>471,395</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>466,571</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

2913358

2871201

P5Y

P7Y

P3Y

P7Y

The Ram Light Note bears interest at 6% per annum with quarterly payments of $150,000 (including principal and interest) payable beginning December 31, 2014. Scheduled principal and interest payment of $150,000 will only be permitted upon receipt of the Company’s current quarterly compliance certificate; the Company having met the mandatory pay-down of the Revolving Credit Facility to $1,000,000 and average excess availability for the prior 30 days (after subtraction of third party trade payables 30 days or more past due) of no less than $1,000,000 after giving effect to the payment.

The Revolving Credit Facility includes the following sub-limits:  ⋅ Letters of Credit to be issued limited to $3,000,000.  Inventory availability limited to $4,000,000. Mandatory pay-down to $1,000,000 (excluding letters of credit) for any 30 consecutive days between February 1 and April 30.

Usage under the Revolving Credit Facility shall not exceed the sum of the following (the “Borrowing Base”):  Up to 85% of the company’s eligible domestic and Canadian accounts receivable aged less than 60 days past due (not to exceed 90 days from invoice date, cross aged on the basis of 50% or more past due with certain specific accounts qualifying for up to 120 days from invoice date not to exceed 30 days from the due date; plus   ⋅ Up to the lesser of (a) 50% of the cost of eligible inventory or (b) 75% of net orderly liquidation value percentage of eligible inventory (annual inventory appraisals required); minus  An all-time $500,000 block; minus  Applicable reserves including a dilution reserve equal to 125% of the Company’s advertising and return accrual reserves. Dilution reserve not to exceed availability generated from eligible accounts receivable.

The Revolving Credit Facility must comply with the following quarterly financial covenants to avoid default: Fixed charge coverage ratio test of 1.1:1 times measured on a rolling four quarter basis, defined as EBITDA less non-financed capital expenditures, cash dividends and distributions paid and cash taxes paid divided by the sum of interest and principal on all indebtedness. Capital expenditures limited to $150,000 per year.

0.00375

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">As of June 30, 2015 and March 31, 2015, the Company had obligations under the capital lease repayable as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="BORDER-BOTTOM: #9eb6ce 0px solid; BORDER-LEFT: #9eb6ce 0px solid; MARGIN: 0in; WIDTH: 95%; BORDER-COLLAPSE: collapse; OVERFLOW: visible; BORDER-TOP: #9eb6ce 0px solid; BORDER-RIGHT: #9eb6ce 0px solid" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="14%" colspan="2"> <div>June 30, 2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="14%" colspan="2"> <div>March 31, 2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="14%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="14%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div>Total minimum lease payments Within one year</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>10,820</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>12,984</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; PADDING-LEFT: 13px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div>After one year but within three years</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>1,078</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="13%"> <div>10,820</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="13%"> <div>14,062</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div>Interest payments relating to future periods</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>(219)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>(356)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="13%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="13%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="64%"> <div>Present Value of minimum lease payments</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>10,601</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%"> <div>13,706</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: Times New Roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt"></div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

10820

14062

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Future minimum lease payments under property and equipment leases with terms exceeding one year as of June 30, 2015 are as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 60%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="29%" colspan="2"> <div>Operating Leases</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>For period ending</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="28%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>June 30,</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>2015</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>547,316</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>2016</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>535,626</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>2017</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>487,671</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>2018</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>518,171</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>2019</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>524,272</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>2020 and beyond</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div>218,447</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="28%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="28%"> <div>2,831,503</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

547316

535626

487671

518171

524272

218447

2831503

155221

163470

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">All sales to customers outside of the United States for the three months ended June 30, 2015 were made by the Macau Subsidiary. Sales by geographic region for the periods presented are as follows:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 60%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="11%" colspan="2"> <div>2014</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="11%" colspan="2"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>North America</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>3,073,577</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>2,290,253</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>Europe</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>237,507</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>254,706</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div>South Africa</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>155,790</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="10%"> <div>-</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="35%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>3,466,874</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="10%"> <div>2,544,959</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

3073577

237507

155790

2290253

254706

3346093

4925982

1100000

15842

2357

94252

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.5in" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Changes in the Company’s obligations for return and allowance programs are presented in the following table:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN:Left; TEXT-INDENT: 0in; WIDTH: 100%"> <table style="MARGIN: 0in; WIDTH: 90%; BORDER-COLLAPSE: collapse; OVERFLOW: visible" cellspacing="0" cellpadding="0" align="left"> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="27%" colspan="5"> <div>Three Months Ended</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="13%" colspan="2"> <div>June 30,</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="13%" colspan="2"> <div>June 30,</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div> </div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%" colspan="2"> <div>2015</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="white-space:nowrap; BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="13%" colspan="2"> <div>2014</div> </td> <td style="TEXT-ALIGN: center; FONT-STYLE: normal; FONT-FAMILY: times new roman; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div>Estimated return and allowance liabilities at beginning of period</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div>197,873</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div>235,172</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div>Costs accrued for new estimated returns and allowances</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>87,235</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>54,002</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div>Return and allowance obligations honored</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>(132,034)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="12%"> <div>(132,350)</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #cceeff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> <tr style="HEIGHT: 12px"> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; FONT-WEIGHT: 400" width="61%"> <div>Estimated return and allowance liabilities at end of period</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div>153,074</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="1%"> <div>$</div> </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; FONT-STYLE: normal; PADDING-RIGHT: 4px; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom; BORDER-TOP: #000000 1px solid; FONT-WEIGHT: 400" width="12%"> <div>156,824</div> </td> <td style="TEXT-ALIGN: left; FONT-STYLE: normal; FONT-FAMILY: times new roman; BACKGROUND: #ffffff; COLOR: #000000; FONT-SIZE: 10pt; VERTICAL-ALIGN: middle; FONT-WEIGHT: 400" width="1%"> <div> </div> </td> </tr> </table> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

Customers are either allowed to return defective goods within a specified period of time after shipment (between 6 and 9 months) or granted a defective allowance consisting of a fixed percentage (between 1% and 5%) off of invoice price in lieu of returning defective products.

64903

316594

0.147 0.166 24769 8

113962

101161

32857 165893 1598200

19885

0.096

100000

43285

46698

174131

1.00

1000000

0.01

100000

0.01

100000000

38117517

1537014

287110

46495

287110

2001

32398

0.06

760000

1102000

77012

17240

583247

816753

P360D

0.49

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The condensed consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in the condensed consolidated financial statements. The accompanying unaudited financial statements for the three months ended June 30, 2015 and 2014 have been prepared in accordance with generally accepted accounting principles applicable to interim financial information and the requirements of Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete consolidated financial statements. In the opinion of management, such condensed consolidated financial statements include all adjustments (consisting of normal recurring accruals) necessary for the fair presentation of the condensed consolidated financial position and the condensed consolidated results of operations. The condensed consolidated results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet information as of March 31, 2015 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K. The interim condensed consolidated financial statements should be read in conjunction with that report.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

-137415

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: left; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>USE OF ESTIMATES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-ALIGN: left; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Singing Machine makes estimates and assumptions in the ordinary course of business relating to sales returns and allowances, warranty reserves, inventory reserves and reserves for promotional incentives that affect the reported amounts of assets and liabilities and of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Future events and their effects cannot be determined with absolute certainty; therefore, the determination of estimates requires the exercise of judgment. Historically, past changes to these estimates have not had a material impact on the Company's financial condition. However, circumstances could change which may alter future expectations.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>INCOME TAXES</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company follows the provisions of FASB ASC 740 "Accounting for Income Taxes." Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. If it is more likely than not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The Company analyzes its deferred tax assets and liabilities at the end of each interim period and, based on management’s best estimate of its full year effective tax rate, recognizes cumulative adjustments to its deferred tax assets and liabilities. The Company’s effective tax rate for the fiscal year ending March 31, 2016 is estimated to be approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 39</font>%. The effective tax rate for the full year ended March 31, 2015 was approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 35</font>%.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> As of June 30, 2015 and March 31, 2015, The Singing Machine had gross deferred tax assets of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3.3</font> million and $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">3.0</font> million, respectively, against which the Company recorded valuation allowances totaling approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">0.7</font> million. A valuation allowance was recorded against deferred tax assets because it is more likely than not that a portion of the tax benefits from the gross deferred tax assets will not be realized. For the three month period ended June 30, 2015, the Company recorded a loss before income tax benefit of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">807,000</font> which generated an additional current deferred tax asset and income tax benefit of approximately $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">312,000</font>. Due to the seasonality of the business, the Company is expected to reverse this increase in deferred tax asset during the remainder of fiscal year ending March 31, 2016.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt">  </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">The Company recognizes a liability for uncertain tax positions. An uncertain tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax return that is not based on clear and unambiguous tax law and which is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. As of June 30, 2015, there were no uncertain tax positions that resulted in any adjustment to the Company’s provision for income taxes. The Company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes. The Company currently has no liabilities recorded for accrued interest or penalties related to uncertain tax provisions.</div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">As of June 30, 2015, the Company is subject to U.S. Federal income tax examinations for the tax years ended March 31, 2012 through March 31, 2015.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

0.35

3300000

3000000

700000

0.39

9665

6142

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"><b>NOTE 13 - EMPLOYEE BENEFIT PLANS</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif" align="left">The Company has a 401(k) plan for its employees to which the Company makes contributions at rates dependent on the level of each employee's contributions. Contributions made by the Company are limited to the maximum allowable for federal income tax purposes. The amounts charged to operations for contributions to this plan and administrative costs during the three month periods ended June 30, 2015 and 2014 totaled $9,258 and $6,720, respectively. The amounts are included as a component of general and administrative expense in the accompanying Consolidated Statements of Income. The Company does not provide any post-employment benefits to retirees.</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

9258

6720

<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">RECENT ACCOUNTING PRONOUNCEMENTS</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09 which outlines a single comprehensive model for companies to use when accounting for revenue arising from contracts with customers. The core principle of the revenue recognition model is that an entity recognizes revenue to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In order to achieve this core principle a company must apply the following steps in determining revenue recognition:</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Identify the contract(s) with a customer</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Identify the performance obligations in the contract.</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Determine the transaction price.</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Allocate the transaction price to the performance obligations in the contract.</font></div> </td> </tr> </table> <table style="BORDER-BOTTOM: 0px solid; BORDER-LEFT: 0px solid; LINE-HEIGHT: 115%; WIDTH: 100%; FONT-FAMILY: Calibri,sans-serif; FONT-SIZE: 11pt; BORDER-TOP: 0px solid; BORDER-RIGHT: 0px solid" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.75in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="72"> <div style="CLEAR:both;CLEAR: both"></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; WIDTH: 0.25in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top" width="24"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-FAMILY: Symbol; FONT-SIZE: 10pt"> ·</font></div> </td> <td style="PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; PADDING-TOP: 0in" valign="top"> <div style="CLEAR:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 12pt"> <font style="FONT-SIZE: 10pt">Recognize revenue when (or as) the entity satisfies a performance obligation.</font></div> </td> </tr> </table> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 1in"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period with early application allowed <font style="LINE-HEIGHT: 115%; FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> beginning with reporting periods after December 15, 2016</font>. Management is currently assessing whether the implementation of ASU 2014-09 will have any material effect on the company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In June 2014, the FASB issued ASU 2014-12, <i>Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period.</i> The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. An entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU is effective for all entities for reporting periods beginning after December 15, 2015. The implementation of ASU 2014-12 is not expected to have any material effect on the company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"></font> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In August 2014, the FASB issued ASU 2014-15, <i>Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern</i>. The ASU requires that at every interim and annual period, management determine whether conditions or events exist which raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management’s initial consideration of the relevant conditions and events indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate these factors will alleviate that substantial doubt. The mitigating effect is considered only if it is probable that the plan will be effectively implemented and probable that the plans will mitigate the conditions or events that raised the substantial doubt. If management’s plans will alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the conditions or events that raised substantial doubt and management’s plans that alleviated those concerns. If management’s plans will not alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the same conditions and events along with management’s plans that did not alleviate the substantial doubt, in addition to a statement that indicates there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and for interim periods within annual periods beginning after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-15 will have any material effect on the company’s consolidated financial statement disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In January 2015, the FASB issued ASU 2015-01, <i>Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.</i> To be considered an extraordinary item under existing Generally Accepted Accounting Principles, an event or transaction that is identified as both unusual in nature and occurs infrequently must be segregated as an extraordinary item from results or ordinary operations, separately presented as an extraordinary item on an entity’s income statement, net of tax, after income from continuing operations and an entity must disclose income taxes and earnings per share data applicable to the extraordinary item. While the ASU eliminates the requirement to segregate and separately report an event that is identified as an extraordinary item it does not affect the reporting and disclosure requirements for an extraordinary item. ASU 2015-01 is effective for periods beginning after December 15, 2015 and interim periods within those annual periods. The implementation of ASU 2015-01 is not expected to have any material effect on the company’s consolidated financial statement disclosures.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="COLOR: #313131; FONT-SIZE: 10pt">In April 2015, the FASB issued ASU 2015-03, <i>Simplifying the Presentation of Debt Issuance Costs.</i> The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense”. Any debt issuance costs incurred before the associated funding is received should be reported on the balance sheet as deferred charges until the debt liability amount is recorded. The guidance in ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued with the new guidance to be applied retrospectively to all prior periods.</font> <font style="FONT-SIZE: 10pt">Management is currently assessing whether the implementation of ASU 2015-03 will have any material effect on the company’s consolidated financial statements.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In July 2015, the FASB issued ASU 2015-11, <i>Simplifying the Measurement of Inventory.</i> The ASU requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out (LIFO) and the retail inventory method (RIM) are not impacted by the new guidance. <font style="COLOR: #313131">The guidance in ASU 2015-11 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. The new guidance should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period.</font> Management is currently assessing whether the implementation of ASU 2015-11 will have any material effect on the company’s consolidated financial statements.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>

EX-101.SCH 7 smdm-20150630.xsd XBRL TAXONOMY EXTENSION SCHEMA 101 - Document - Document And Entity Information link:presentationLink link:definitionLink link:calculationLink 102 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS link:presentationLink link:definitionLink link:calculationLink 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] link:presentationLink link:definitionLink link:calculationLink 104 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS link:presentationLink link:definitionLink link:calculationLink 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS link:presentationLink link:definitionLink link:calculationLink 106 - Disclosure - BASIS OF PRESENTATION link:presentationLink link:definitionLink link:calculationLink 107 - Disclosure - SUMMARY OF ACCOUNTING POLICIES link:presentationLink link:definitionLink link:calculationLink 108 - Disclosure - DUE FROM PNC BANK link:presentationLink link:definitionLink link:calculationLink 109 - Disclosure - INVENTORIES, NET link:presentationLink link:definitionLink link:calculationLink 110 - Disclosure - PROPERTY AND EQUIPMENT link:presentationLink link:definitionLink link:calculationLink 111 - Disclosure - LINE OF CREDIT link:presentationLink link:definitionLink link:calculationLink 112 - Disclosure - LONG-TERM CAPITAL LEASE link:presentationLink link:definitionLink link:calculationLink 113 - Disclosure - CUSTOMER DEPOSITS link:presentationLink link:definitionLink link:calculationLink 114 - Disclosure - OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES link:presentationLink link:definitionLink link:calculationLink 115 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:definitionLink link:calculationLink 116 - Disclosure - SHAREHOLDERS' EQUITY link:presentationLink link:definitionLink link:calculationLink 117 - Disclosure - GEOGRAPHICAL INFORMATION link:presentationLink link:definitionLink link:calculationLink 118 - Disclosure - DUE TO / FROM RELATED PARTIES, NET link:presentationLink link:definitionLink link:calculationLink 119 - Disclosure - RELATED PARTY TRANSACTIONS link:presentationLink link:definitionLink link:calculationLink 120 - Disclosure - WARRANTY PROVISIONS link:presentationLink link:definitionLink link:calculationLink 121 - Disclosure - EMPLOYEE BENEFIT PLANS link:presentationLink link:definitionLink link:calculationLink 122 - Disclosure - SUMMARY OF ACCOUNTING POLICIES (Policies) link:presentationLink link:definitionLink link:calculationLink 123 - Disclosure - INVENTORIES, NET (Tables) link:presentationLink link:definitionLink link:calculationLink 124 - Disclosure - PROPERTY AND EQUIPMENT (Tables) link:presentationLink link:definitionLink link:calculationLink 125 - Disclosure - LONG-TERM CAPITAL LEASE (Tables) link:presentationLink link:definitionLink link:calculationLink 126 - Disclosure - COMMITMENTS AND CONTINGENCIES (Tables) link:presentationLink link:definitionLink link:calculationLink 127 - Disclosure - GEOGRAPHICAL INFORMATION (Tables) link:presentationLink link:definitionLink link:calculationLink 128 - Disclosure - WARRANTY PROVISIONS (Tables) link:presentationLink link:definitionLink link:calculationLink 129 - Disclosure - SUMMARY OF ACCOUNTING POLICIES (Details Textual) link:presentationLink link:definitionLink link:calculationLink 130 - Disclosure - DUE FROM PNC BANK (Details Textual) link:presentationLink link:definitionLink link:calculationLink 131 - Disclosure - INVENTORIES, NET (Details) link:presentationLink link:definitionLink link:calculationLink 132 - Disclosure - PROPERTY AND EQUIPMENT (Details) link:presentationLink link:definitionLink link:calculationLink 133 - Disclosure - PROPERTY AND EQUIPMENT (Details Textual) link:presentationLink link:definitionLink link:calculationLink 134 - Disclosure - LINE OF CREDIT (Details Textual) link:presentationLink link:definitionLink link:calculationLink 135 - Disclosure - LONG-TERM CAPITAL LEASE (Details) link:presentationLink link:definitionLink link:calculationLink 136 - Disclosure - LONG-TERM CAPITAL LEASE (Details Textual) link:presentationLink link:definitionLink link:calculationLink 137 - Disclosure - CUSTOMER DEPOSITS (Details Textual) link:presentationLink link:definitionLink link:calculationLink 138 - Disclosure - OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES (Details Textual) link:presentationLink link:definitionLink link:calculationLink 139 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) link:presentationLink link:definitionLink link:calculationLink 140 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Textual) link:presentationLink link:definitionLink link:calculationLink 141 - Disclosure - SHAREHOLDERS' EQUITY (Details Textual) link:presentationLink link:definitionLink link:calculationLink 142 - Disclosure - GEOGRAPHICAL INFORMATION (Details) link:presentationLink link:definitionLink link:calculationLink 143 - Disclosure - DUE TO / FROM RELATED PARTIES, NET (Details Textual) link:presentationLink link:definitionLink link:calculationLink 144 - Disclosure - RELATED PARTY TRANSACTIONS (Details Textual) link:presentationLink link:definitionLink link:calculationLink 145 - Disclosure - WARRANTY PROVISIONS (Details) link:presentationLink link:definitionLink link:calculationLink 146 - Disclosure - WARRANTY PROVISIONS (Details Textual) link:presentationLink link:definitionLink link:calculationLink 147 - Disclosure - EMPLOYEE BENEFIT PLANS (Details Textual) link:presentationLink link:definitionLink link:calculationLink EX-101.CAL 8 smdm-20150630_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 9 smdm-20150630_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 10 smdm-20150630_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Document And Entity Information [Abstract] Document Information [Table] Document Information, Document [Axis] Document Type Amendment Flag Document Period End Date Document Fiscal Year Focus Document Fiscal Period Focus Entity Registrant Name Entity Central Index Key Current Fiscal Year End Date Entity Filer Category Trading Symbol Entity Common Stock, Shares Outstanding Inventory Disclosure [Abstract] Inventory Disclosure [Text Block] Inventory Disclosure [Text Block] Property, Plant and Equipment [Abstract] Property, Plant and Equipment Disclosure [Text Block] Property, Plant and Equipment Disclosure [Text Block] Line of Credit Facility [Abstract] Debt Disclosure [Text Block] Debt Disclosure [Abstract] Long-term Debt [Text Block] Payables and Accruals [Abstract] Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Disclosure [Text Block] Commitments and Contingencies Disclosure [Text Block] Segment Reporting [Abstract] Segment Reporting Disclosure [Text Block] Segment Reporting Disclosure [Text Block] Related Party Transactions [Abstract] Related Party Transactions Disclosure [Text Block] Related Party Transactions Disclosure [Text Block] Related Party Transactions Disclosure Excluding Due To Or From [Text Block] Related Party Transactions Disclosure Excluding Due To Or From [Text Block] The entire disclosure of related party transactions, including the nature of the relationship(s), a description of the transactions, the amount for the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and excluding the amounts due to or from related parties. Statement Of Financial Position [Abstract] Statement [Table] Class of Stock [Axis] Class of Stock [Domain] Common Class [Member] Common Class A [Member] Related Party [Axis] Related Party [Domain] Cosmo Communications Canada, Ltd [Member] Cosmo communications Canada ltd member. Starlight Marketing Development, Ltd [Member] Ram Light Management, Ltd [Member] Starlight R and D, Ltd [Member] Starlight Electronics Company, Ltd [Member] Starlight Electronics Co., Ltd. Starlight Consumer Electronics Co Ltd [Member] Long-term Debt, Type [Axis] Long-term Debt, Type [Domain] Subordinated Debt [Member] Legal Entity [Axis] Assets [Abstract] Assets Assets, Current [Abstract] Current Assets Cash Cash Cash at beginning of period Cash at end of the period Accounts Receivable, Net, Current, Total Accounts receivable, net of allowances of $46,698 and $174,131, respectively Due from Affiliate, Current Due From Related Parties, Current Due from related party Inventory, Net, Total Inventories, net Inventories, net Prepaid Expense and Other Assets, Current Prepaid expenses and other current assets Deferred Finance Costs, Current, Net Deferred financing costs Deferred Tax Assets, Net, Current Deferred tax asset, net Property, Plant and Equipment, Net, Total Property and equipment, net Property and equipment, net Other Assets, Noncurrent Other non-current assets Deferred Finance Costs, Noncurrent, Net Deferred financing costs, net of current portion Deferred Tax Assets, Net, Noncurrent Deferred tax asset, net of current portion Liabilities and Equity [Abstract] Liabilities and Shareholders' Equity Liabilities, Current [Abstract] Current Liabilities Accounts Payable, Current Accounts payable Notes Payable, Related Parties, Current Notes Payable, Related Party Due To Related Parties, Current Due to related party Due to Related Parties, Current Accrued Liabilities Excluding Product Warranty Current Accrued expenses Carrying value as of the balance sheet date of obligations incurred and payable excluding product warranty, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Line of Credit, Current Revolving line of credit Long-term Debt, Current Maturities, Total Current portion of capital lease Customer Deposits, Current Customer deposits Long-term Debt, Excluding Current Maturities, Total Long-term capital lease, net of current portion Accounts Payable and Accrued Liabilities, Noncurrent Accrued expenses, net of current portion Preferred Stock, Value, Issued Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding Common Stock, Value, Issued Common stock value Additional Paid In Capital, Common Stock Additional paid-in capital Retained Earnings (Accumulated Deficit) Accumulated deficit Stockholders' Equity Attributable To Parent Total Shareholders' Equity Balance Balance Liabilities and Equity Total Liabilities and Shareholders' Equity Product Warranties Disclosures [Abstract] Product Warranty Disclosure [Text Block] Product Warranty Disclosure [Text Block] Accounting Policies [Abstract] Consolidation, Policy [Policy Text Block] Consolidation, Policy [Policy Text Block] Use of Estimates, Policy [Policy Text Block] Trade and Other Accounts Receivable, Policy [Policy Text Block] Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] Foreign Currency Transactions and Translations Policy [Policy Text Block] Foreign Currency Transactions and Translations Policy [Policy Text Block] Concentration Of Credit Risk [Policy Text Block] Concentration of Credit Risk [Policy Text Block] Disclosure of accounting policy for concentration of credit risk. Inventory, Policy [Policy Text Block] Inventory, Policy [Policy Text Block] Earnings Per Share, Policy [Policy Text Block] Revenue Recognition, Policy [Policy Text Block] Revenue Recognition, Policy [Policy Text Block] Share-Based Compensation, Option and Incentive Plans Policy [Policy Text Block] Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] Advertising Costs, Policy [Policy Text Block] Advertising Costs, Policy [Policy Text Block] Research and Development Expense, Policy [Policy Text Block] Research and Development Expense, Policy [Policy Text Block] Schedule Of Inventory, Current [Table Text Block] Schedule of Inventory, Current [Table Text Block] Property, Plant and Equipment [Table Text Block] Property, Plant and Equipment [Table Text Block] Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] Schedule Of Future Minimum Rental Payments For Operating Leases [Table Text Block] Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] Schedule Of Revenue From External Customers and Long-Lived Assets, By Geographical Areas [Table Text Block] Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] Schedule Of Product Warranty Liability [Table Text Block] Schedule of Product Warranty Liability [Table Text Block] Consolidated Balance Sheets [Parenthetical] [Abstract] CONSOLIDATED BALANCE SHEETS [Parenthetical] Statement [Line Items] Allowance For Doubtful Accounts Receivable, Current Allowance for doubtful accounts (in dollars) Preferred Stock, Par Or Stated Value Per Share Preferred stock, par value (in dollars per share) Preferred Stock, Shares Authorized Preferred stock, shares authorized Preferred Stock, Shares Issued Preferred stock, shares issued Preferred Stock, Shares Outstanding Preferred stock, shares outstanding Common Stock, Par Or Stated Value Per Share Common stock, par value (in dollars per share) Common Stock, Shares Authorized Common stock, shares authorized Common Stock, Shares, Issued Common stock, shares issued Common Stock, Shares, Outstanding Common stock, shares outstanding Accounting Policies [Table] Scenario [Axis] Scenario, Unspecified [Domain] Percentage Of Reserves For Customers Percentage of reserves for customers in bankruptcy and other reserves. Cash, FDIC Insured Amount Foreign Financial Institutions, Actual Deposits Concentration Risk Credit Risk Cash Balance in Foreign Financial Institutions Cooperative Advertising Allowance Minimum Percentage Cooperative Advertising Allowance Minimum Percentage (in percentage) The minimum percentage of cooperative allowance based on client's inventory purchase. Cooperative Advertising Allowance Maximum Percentage Cooperative Advertising Allowance Maximum Percentage (in percentage) The maximum percentage of cooperative allowance based on client's inventory purchase. Advertising Expense Advertising Expense Research and Development Expense Research and Development Expense Inventory, Current [Table] Inventory [Line Items] Inventory, Finished Goods Finished Goods Other Inventory, in Transit, Gross Inventory in Transit Inventory Valuation Reserves Inventory Reserve Property, Plant and Equipment [Table] Property, Plant and Equipment, Type [Axis] Property, Plant and Equipment, Type [Domain] Computer and Office Equipment [Member] Furniture and Fixtures [Member] Warehouse Equipment [Member] Molds and tooling [Member] Range [Axis] Range [Domain] Minimum [Member] Maximum [Member] Property, Plant and Equipment [Line Items] Property, Plant and Equipment, Gross Property and equipment, gross Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Accumulated depreciation Property, Plant and Equipment, Useful Life Average useful life (in years) Depreciation Depreciation Line of Credit Facility [Table] Sales [Axis] Sales [Domain] Credit Facility [Axis] Line of Credit Facility, Increase, Accrued Interest Percentage Of Factoring Fees Represents the factoring fees charged regarding accounts receivable. Line Of Credit Commission Expenses Represents the amount of commission expenses related to the line of credit. Line of Credit Facility, Interest Rate During Period Line of Credit Facility, Maximum Amount Outstanding During Period Due to Related Parties Due to Related Parties, Total Long Term Capital Lease [Table] Long Term Capital Lease [Line Items] Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] Capital Leases, Future Minimum Payments Due, Next Twelve Months Total minimum lease payments Within one year Capital Leases, Future Minimum Payments Due in Two Years After one year but within three years Capital Leases, Future Minimum Payments Due, Total Minimum Lease Payments, Sale Leaseback Transactions, Total Capital Leases, Future Minimum Payments, Interest Included in Payments Interest payments relating to future periods Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments, Total Present Value of minimum lease payments Wells Fargo Equipment Finance [Member] Capital Lease Obligations Incurred Property and equipment purchased under capital lease Monthly Lease Payments It represents the lease amount required for monthly payments. Lease term It represents the term to pay the lease amounts. Long Term Capital Lease Interest Rate It represents the capital lease at an effective interest rate. Income Statement [Abstract] Sales Revenue, Goods, Net Net Sales Sales Cost Of Goods Sold Cost of Goods Sold Gross Profit Gross Profit Gross Profit Operating Expenses [Abstract] Operating Expenses Selling Expense Selling expenses General and Administrative Expense General and administrative expenses Depreciation, Depletion and Amortization, Nonproduction, Total Depreciation Operating Expenses Total Operating Expenses Operating Income (Loss) Loss from Operations Nonoperating Income (Expense) [Abstract] Other Expenses Income (Loss) From Continuing Operations Before Income Taxes, Extraordinary Items, Noncontrolling Interest Loss before income tax benefit Net Income (Loss) before income tax benefit Interest Expense Interest expense Income Tax Expense (Benefit) Income tax benefit Actual tax provision (benefit) Net Income (Loss) Attributable To Parent Net Loss Net Loss Net Income Net Earnings (Loss) Earnings Per Share [Abstract] Loss per Common Share Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] Weighted Average Common and Common Equivalent Shares: Obligations To Clients For Returns And Allowances [Table] Concentration Risk Benchmark [Axis] Concentration Risk Benchmark [Domain] Customer [Axis] Customer [Domain] Obligations To Clients For Returns And Allowances [Line Items] Customer Refund Liability, Current Customer Refund Liability, Current Obligations to customers for returns and allowances Commitments And Contingencies [Table] Commitments And Contingencies [Line Items] Operating Leases, Future Minimum Payments, Remainder of Fiscal Year 2015 EX-101.PRE 11 smdm-20150630_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 12 R39.htm IDEA: XBRL DOCUMENT

COMMITMENTS AND CONTINGENCIES (Details)	Jun. 30, 2015 USD ($)
Commitments And Contingencies [Line Items]
2015	$ 547,316
2016	535,626
2017	487,671
2018	518,171
2019	524,272
2020 and beyond	218,447
Operating Leases, Future Minimum Payments Due	$ 2,831,503

EXCEL 13 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx M4$L#!!0````(`'%E#D>\2RS`W@$``(`=```3````6T-O;G1E;G1?5'EP97-= M+GAM;,V9S4[C,!2%7Z7*%C6N?V`81-D`6T""%_`DMXW5.+9L4\K;8Z>`9JHR M@ADJG4U^>J[O.L3ODV M+)G7S4HOB8G9[(0U;D@TI&DJ/:J+\]LUA6!:FEQNA=)[7FGO>]/H9-S`UD.[ MTW7J%@O34.N:1YN7U"E;TU'6J\F=#NE&V]R";7HV"MLCKXO.OL)^;=YE=7X*8?= MA7]+9FP9FA^6?ZPH]__X+#LO<6W[JZ"?S([!^F!C*N?::C/L&]63"ZM?SJV^ M:J6VJD/N3`DLV>7Y.*[K$:66_^7]]M.:5R@3QF6P@-^%)T.U-ZGD.>[ M_]OXO>!P.[%````*P(```L```!?.0Q(OW[CMB`PD.MQ-*O>X^NO`ZIK`XTHO8<4M?'5$Q^ M#*G*_=ITJK$"2+8CCVG!D4*>-BP>-9?20D0[8$NP+,L5R*V.V:SGVL7.U49V M[M,41Y26M#;3"&>6X9MY6&3I//B)]!=C;IK>TI;MR5/0!_ZS#0//>997'L=V M+YRO+0O]C^AY%.!)T:'B1?4C9@,2[2F]@OIZ`(4QOCLEFI2"(S>C@KN_V/P" M4$L#!!0````(`'%E#D==-=7JS0$``/H<```:````>&PO7W)E;',O=V]R:V)O M;VLN>&UL+G)E;'/%V4M.XT`4A>&M1%X`Y?L@0$08,6%*LP$KJ<11$MMR5:MA M]VTR0.%11PPBG8DMV]*M?_2I5+[O4KUXCH4H'DY:$X)NBD'W5"";LM!MY2@NW+0 M'25(:B!CS4E"6'.T%L"U<+P6`+9PQ!9`MG#,%H"V<-06P+9PW!8`MW#D%D"W M<.P6@+=P]%:@MW+T5J"WDO;::+/-T5N!WLK16X'>RM%;@=[*T5N!WLK16X'> MRM%;@=[*T5N!WLK1VX#>QM';@-[&T=N`WD8Z*T&')1R]#>AM'+T-Z&TAM'+T-Z&TCM'+T=Z.TCMI+-N=-C-T=N! MWL[1VX'>SM';@=[.T=O/]$YM,\;UGSSNNFVZ=,VGX;#H#.^4WP[Q\BFGJ?#G MS9G6>5HIAM/UXBB>IKZ'A&^_.1_^`U!+`P04````"`!Q90Y'AQK0WSL#``!4 M#```$````&1O8U!R;W!S+V%P<"YX;6R]5\%NVS@0_17"E\T"V\H;>]-NX`I@ M),8A*I&J2*?P:<'*="Q4E@R1"9)^?4>2[7F&HR?!BMK-]>.8Y*57BOS'B`Y/%T6Y5I9V)8/3K%Q'*7*C.Z0?TRUABO6&]4_N(TNR#- MOYO91A:^LKK-.GS0>%^I4B\@Z('WO;'&W+U`GEG%]58J?]"+-O;WA[M:W.O2 M5)G^??E^"+]]"7;VQK=6BS1_B%1:&G?R9*^?=&*+STMJ:B;,WULLV MMKU.Q^[X0XV`U2'2V6?F;LMVD'=ED:G-M.'+2)7V?RI%G=.N$.,/@U;V.Q<( MYPM$<@OMB&C>A`+QVB79KSS.?,($\1&L!`^HCR5L;G"`F4?0&SBC/APAX2\D M[`VQ2P,<3ROL-CS^(Q)RJ8H@C`>):*3XL\( MNHUYB"+F0;KL*LGL(S&/P\A=B1':"HIA'))9SA)F/R)<9C:`*W="`,E*= MTHN)3X]`.)N^DR0.D8DACY).*"RNY4^4U`IW7Q!)(< M[4@"W?(8Q4<\\S"DLLI#U&F!:E5-"3M:4'&'8W+'`Q\\_U&70-FB,98R:P5Z??"?^*8X`` M$G2\I^(HCH11P.>$H!O"R"V5*(([!OH7!%.)W.RQ)?_GG?GT86OK4HS@R2\5IPIRY;23Y5SBCSR1DU^MB_-T?=+7"2,QZ>/=E:*?6\ M`S6O_ZP;=_?!\5E71SK_KIWLZE,,T+3'N.R\";^]G;UZ%W,.OR'@#\!``!I`P``$0```&1O8U!R;W!S+V-O&ULS9-- M3\,P#(;_"NJ]2S\&0E'7`R!.3$)B",0M2[PMK/E0XJGKOR?+NI8!E]VXU;7? MQZ_CI.*6+X!Q?PD5.B07!FG&(;0K8EE M?,O60(HLNR$*D`F&C!R`J1V(25T)3KD#AL;U>,$'O-VY)L($)]"``HV>Y).< M)/6KWFK3ZHJ,^KH*CAOF<6Z$7$D0=]U8]CL5.B,XY8]R$$/[^/=/#S%#DKYR M[^50U;;MI"UC71@X)^_SIY=X-JG4'IGF$%1>4NPLS))3Y[?R_F'QF-1%EE^G MV6V:3Q=Y0:6$E:V-ZXZI']'9JZJ_ M`%!+`P04````"`!Q90Y'F5R<(Q`&``"<)P``$P```'AL+W1H96UE+W1H96UE M,2YX;6SM6EMSVC@4?N^OT'AG]FT+QC:!MK03621 MA'^_1S80RY8-[9)-NIL\!"SI^\Y%1^?H.'GS[BYBZ(:(E/)X8-DOV]:[MR_> MX%#BVR]*+41B1%G\@MNN01.+5)#3(3 M/PB=AIAJ4!P"I`DQEJ&&^+3&K!'@$WVWO@C(WXV(]ZMOFCU7H5A)VH3X$$8: MXIQSYG/1;/L'I4;1]E6\W*.76!4!EQC?-*HU+,76>)7`\:V@S&L%&KQMUAVC2 M/'K^!?F<-0HACA*FNVB M<5@$_9Y>PTG!Z(++9OVX?H;5,VPLCO='U!=*Y`\FIS_I,C0'HYI9";V$5FJ? MJH,@H%\;D>/N5Z>`HWEL:\4*Z">P'_T=HWPJOX@L`Y?RY]SZ7ON?0] MH=*W-R-]9\'3BUO>1FY;Q/NN,=K7-"XH8U=RSTS0LS0[=R2^JVE+ZU)CA*]+',<$X>RPP[ M9SR2';9WH!TU^_9==N0CI3!3ET.X&D*^`VVZG=PZ.)Z8D;D*TU*0;\/YZ<5X M&N(YV02Y?9A7;>?8T='[Y\%1L*/O/)8=QXCRHB'NH8:8S\-#AWE[7YAGE<90 M-!1M;*PD+$:W8+C7\2P4X&1@+:`'@Z]1`O)256`Q6\8#*Y"B?$R,1>APYY=< M7^/1DN/;IF6U;J\I=QEM(E(YPFF8$V>KRMYEL<%5'<]56_*POFH]M!5.S_Y9 MKF4Q9Z;RWRT,"2Q;B%D2XDU=[=7GFYRN>B)V^I=WP6#R_7#)1P_E M.^=?]%U#KG[VW>/Z;I,[2$R<><41`71%`B.5'`86%S+D4.Z2D`83``>LX=SFWJXPD6L_UC6'ODRWSEPVSK>`U[F$RQ#I'[!?8J* M@!&K8KZZKT_Y)9P[M'OQ@2";_-;;I/;=X`Q\U*M:I60K$3]+!WP?D@9CC%OT M-%^/%&*MIK&MQMHQ#'F`6/,,H68XWX=%FAHSU8NL.8T*;T'50.4_V]0-:/8- M-!R1!5XQF;8VH^1."CS<_N\-L,+$CN'MB[\!4$L#!!0````(`'%E#D>;6Z3S M1@(``.`)```-````>&PO-67-Z MOZ34H$YPV21X:4S])0B:?$D%:2:JIA)62J4%,3#55=#4FI*BL4&"!],PG`6" M,(G36+9B+DR#6-NCGKV0^J_<^^37ECSH"Y3&I9)CG:;8`VG< M/*$5X>`?6?=<<:61@8,`%0Z11%#O<4LXRS2S8$D$XVL/3RW@SJ[W$TPJ[7+[ M#/MY)N&825=9@L/^>7ZZ;&1W@]T>XWQW>P"D<4V,H5K.88)Z>[&N87-22>I% M.K\CWI4FZVAZM17@!LB;*5U0/62.\`9*8TY+`P&:54L[&E5;ZRAWNKD3>QYYQB)%5L3&A$+TY7@-7U&";S7-OTX8G M\:*N'!)`-*EKOO[*624%]6(]-%?][!A]=(`^C[>]6 M?C0;O!8#18)'^P?;!S%ZK>KO+U7U MG;QMBU*,ZK&VD7(WZO7$2KKADJ[%FJ6+URCH/ZOUNLN=%4QCT!UJO@9V:&M=D M6:W8`99MN/AR?*&1%5OG^T)FJK*G_XXUW;`,8WA@-)\]<_8J(+!Y0/*EY#]8 MEK^,M;Y&\KVLIKR0K'9SR69UM=_Q\IMB:63-:R'3IKGMEUM>\BW_V=1;E<2F M>GVJ:OZS*F5>I,NZ*HHVJGG1!JD_B/^?J#I*ONQ\*/.7I.F)L3;L*^`/+O@+ M+[C\=ZRU]P5K6M([:TJ;_E]WI&R3<^IB8I@Q!^/`R/)T' M@9TL&H#M.-$\S+QP1F)5(<>C*>#<`\[])<>=4S)-HH#$H:/R&GX"H0\@].$R MU`N?5;VC1/WO+Q+2#$0^@LC'R\@XB6*:9`MBARZAG^=>K/H`QNM]*%C_DN![ M(6W:[B34]3J1'341-_THG/V=T20@CAU[F>T3G]HIA0@HI8Y9.4^S**`)<6D< MI5X&TZU#$77$Q&CB>[.VLU.21>3$2LDT2DC2J0=444==#`(O:U*7MIE41C86 MT/!,`1VJJ",NID]V0I\BWU7U^*/MD&P!XZ&+.B+CC$:SQ(Z?/$>ETPM52X)S MG77HH7Y%1)6/KP<;$^JWXRJVDZSU"Z*@ESHB)@Q>D"RQP]1VVHQ#"G141R3] M8B>A9N0$,-Q%`:Q'ZTH)1,:$BG7D9B-6=U"-!4`S'U]A#OS**= M:10Q]GRHDCNUKA1,_`DAT%P#,1@[19B^_6ELJT71'4VQHCMZ)2'S`L6=-U"7+\%4HI"%'3=0ES'%V%L MBK&@Z];]\=#TZYRDCHJ\9*OF%"G:WZACV+(Y6JK+8=-H#9HM15,.U'%SK#5G M0G7\VQ>%HYY%I5_E[+*!\7=142J] MC[;IQ,&OI.SW02"*BK9$O+">=NK/E?&62+7DMT#TG)+2D-HFP&&8!BVI.S_/ MS-XKSS-VETW=T5?NB7O;$O[G1!LV''SD/S?>ZELE]4:09\'$*^N6=J)FG`?T?Z,8@TQB)\U'<1L[FGG+XR]Z\7W\N"'V@?:T$)J$T0-#WJF3:,M*>7? MH]%/34VQ+` MD,`).W3\K\#9142P0`2>(#+T:$:/87H,TF-#CV?T9!$`%Y'"`@DHD#CTS4+` M16QA@1042!WZ;B'@(E`(*VQ`A8W+1PL)"TD,I+/7'**5.&U!D:TKLLB4DX6D M<\A*JNQ`B9TK$2\D`$@"2^C7`2JHT+60+DLJ=**UPU$:KA066BE=Y"HM4PO" MK"07`NOWB+!K89E?``:O)!B"BQA%KH5EBD$8O*("USIR2QE'B]=HQ,SO)MHB MM$EFL;5:P>R-;2F_F=XCO(+=.]/J9KM3?SMB\T9_PO.L)S?Z@_!;W0GOPJ1Z MZ]?D<(:4%DF`VD71'@HL>FC/VD1)C+6MU%(VVW]?2G92 M>^8Q\26VE4?IB>+[.*2N7KK]M_ZQ;8?9C^UFUU_/'X?AZ?-BT=\^MMNF_]0] MM;O\G_MNOVV&_'/_L.B?]FUS-S7:;A;D7%QLF_5N?G,U'?NRO[GJGH?->M=^ MV<_ZY^VVV?^[;#?=R_7!S&`XN;J\5;N[OUMMWUZVXWV[?WU_.? M_>=5E%$R*?Y:MR_]R??9:/YKUWT;?_Q^=SUWHX=VT]X.XRF:_/&]7;6;S7BF M?.5_CB?]_YICP]/OKV?_=;K=;/]KT[>K;O/W^FYXS&[=?';7WC?/F^'/[N6W M]G@/D\/;;M-/?V>WS_W0;5^;S&?;YL?A<[V;/E\._ZGT/#^.I&9^Y_QQRS]V.!Z>.FOZ7[ZS/1[_? M$%\MOH_G.4J6!PF=2LX5*Z"0-\DB7__-!$$3-+4/I^TC;A]@^S"UY]/V2=W$ M09(FR6Z2A!C8.W4G5N9]I*K@AJ$;MFXJY>8@D=/+Q!2BUJV`CF/TL<)^!/H1 MZZ=6?L1!=9^K"XQ5]D[]A.AGVC\!/48EM%JZ$*N1NPA5SEHRK'+VUI,/9N@@78R2?,%1`9[>.A+M MR(->"C5K0Q_)SOU@CGJR?J+V0W8,)1^-'RNK)5:AX`=SV5LP!PWFH^;LQBO) M*/3:T\#=(!43!VT**(GR@RM-@!XSVHN9`D,!9!Y3U5NL MLL:JM\0,CH22F="MD%),OG(%3YBNWN*5-5Z])6?TJ7;F\5L="T4I/7W,6&\A MRQJRWN+32TC.FXQ88:E_,&.]A:P>84L/*.NB[1X@H]."XKP,PX0E2UC6A"5+ M3JJ2-Y44T!4ZAS!<)\)N?%DS-#R"JK MG,0Z%HA(F-&4S,Q38BIAII)EJFBFTGNH/-[/Q30E3%.R-!5-4P*8K(/+I:@N MZ`O*W+^EI2EF:K!,%H2"HI!E]:;`2,UV#Q*AJO`7"3 M0W!!%_A(F$N@.A;JUX`)&RQA11,V`'+BV@PIWZW-0F%WP5)62GV-F1CX\@T. MC+)@42::JL$RRFQO6(D/B7VI0S#'`N!882H-&#K!0J?8(1@ZP4(G:I8&L%S. M99R>^("L`)Z`P1/JBXMWQI!@"PE=Q"SYO8+JN%T$5K6YOB_M7F$PL`5#I,(9 M<(S9[N<5^P-'CFWD;'^`]6!-S'H#9W6!\-Q385O/%C:Q4!HQ#C%?OLACG#RV MR=,K]R7;ND#$>[-C!72<@5W:E&&<9+9+//ND[-)-JD"Z5%U]K#MWA,G`@`P% MOC'.,U^>9\%Y%I!G_9S$AE6XJDA/8T`771!7F%H%IUI`J@M/6G"JY?)4"TZU M7)!J`:N0BIQ9K2"=L"ME6G"F!62Z,-JDL+EN,UV:R01G6D"F]4PF8%602._O MK("L,),)3K.`-)?>->#T277Y*,'I$UO&VU%BB_,\S053`B*=JV(JS&<1ISF" M-!?N*>+T17_Q(BOB]$5;&B?SUL06O'J$O"LY]X$S'&V&2YOF$6&PO=V]R:W-H965T&ULC9;=CILP$(5?!?$``?-/1)":5%5[46FU%^VUDS@!+6!J.V'[]K4-H6`[ MD%P$VYP9?\:CH\DZ3#YH@1"S/NNJH3N[8*S=.@X]%:B&=(-;U/`W%TQJR/B4 M7!W:$@3/,JBN',]U(Z>&96/GF5Q[(WF&;ZPJ&_1&+'JK:TC^[E&%NYT-[,?" M>WDMF%AP\LP9X\YEC1I:XL8BZ+*SOX#M`41"(A6_2M31R=@2\$>,/\3DQWEG MNX(!5>C$1`K('W=T0%4E,O&=_PQ)_^\I`J?C1_9O\K@<_P@I.N#J=WEF!:=U M;>N,+O!6L7?2[_C)*%^] MY[&7.7>19Y#L>XDWD2B*@T$1CA*'[S]">$8(3\8'4PA?@>@EL90T4A)$49HH M(+H*Q`'P@1G&-\+X.DR@P/CZ-@K(DF+&$!@9`ITA5!AZ23C=P94_A61=-^,) MC3RASA,I/*&VCTJRI)@Q1$:&2&>(%89HE6%),6.(C0RQQA"EYOC$&)_H9U!* M>-]+DBGAQE7+:T4T(TF-)*E.DBHDZ9/*45A693,:X:DF&W(UGL15?P%.KTFKN)>FYTX_(3`.(0Q"K6"\HYE=GJ@.YU>A7J5O:, MZ@5E3^5,NH867M%/2*YE0ZTC9KP!D6W"!6.&>%9WP_,5O#$<)Q6Z,#&,^9CT MK5(_8;A]='YC^YG_`U!+`P04````"`!Q90Y'AW7?[U\#``"/#0``&````'AL M+W=O/[;'M#NWMMB'H+I*.6-Y6A=EL]JL M0]NW=K-VE[XJ&_NM3;I+71?M[V=;N>OC"E8?#=_+XZD?&M+-.KW%[/*S8PV,KN^J&+PE_>[-96 MU="3S_QKZO0SYQ`XO__H_:]0KL=_*3J[==7/J+OPFNTO7N_HC9)74Q?MX+9MPO8YOI)["Z``^!?!;P"T/'2"F`/$9 MD(5*1[)0UY>B+S;KUEV3=OPSSL7PG\.#\".W&QK#0(5WOK+.M[YM-%^G;T,_ MD^1YE/"9!&Z*U'=^R\"I#,\#//(B&>4R'F>G.E,BHB'T#%N6*YI'DGR2,R31SP2 MY=%29QPB'"R3(+59F`\Y29.'/L2<1M'QBHQ7N!H=5:,09B:5XBJJ!LM$)GF^ M0*-)&HUI3$2C41H`!D;'@XMUAFNM%@;7D#@&X1@6X1APC`-Q.;"\.A(HU@6CPXE%,ROXH6E"0M^!Y@)&1Z@5'=*Z)RSF(D2:B75 MPO($TB&?@*,E818,$&@'!&R!)K;`2?,'K&0`L1M3.O!>L`!$6R!@#S2Q!P(V M-Y](@HF!L(XMP-#^!]@`36R`@*WM+M>Y0-.0T/W'Z-`6"#D&4C%0CA-IIKA$ M1(10:9/QI4&B;16PKYK85X%P3.""RQ@)Z[@VB]\)H*T5L+>:V%LGS?R#?9>9 MS/`\1B*%1O(E^Z#]%0Q:JL`6!IK3KLBQ*_K/0537)-)S7'8?R[;_*_L3B+9$ M#D1-"Q.:TP[&.5&3B&OB>/9H`"4A_C"32J98CM99.MOGUK8]AOU_E^SF' M+>6L]7;&>`I'C*C]V9\]QI/"9S>;];DXVG^*]E@V7?+B>K\+#WOE@W.]]:#L MWB.>_.GH]E#90S_<*G_?CN>%\:%WYX_CS^T,MOD74$L#!!0````(`'%E#D?4 MSB[GH@0``#`6```8````>&PO=V]R:W-H965T&ULC9A/C^(X M$,6_"N+>0UQEQTZ+1FJR6NT>5AK-8?>A[-!4AX MME_YS\]E+\]-^[W;EV4_^U%7Q^YION_[T^-BT6WV95UT7YI3>?3_[)JV+GK_ MV+XNNE-;%MNQ4%TM*$G215T^.AS+K^VL>ZOKHOUO75;- M^6FNYA\OOAU>]_WP8K%:+J[EMH>Z/':'YCAKR]W3_%D]YGJ4C(J_#^6YN_D] M&\R_-,WWX>'/[=,\&3R45;GIARH*__5>YF55#37YEO^=*OULF3?%&)#+F41)QETD@$GX83+ MI!-%5HL1`CKREBWV,S`-82"1CE0X8R;1W61($A7X`2HFSES$3P1+2OC1:6A' MR`Y7OS51%]CR%L:HD5]F$?GY&S,F,E#RD)K);*0Q6 MY<`TC/4N)J*22-2B=R7JR+@D"],)H/-3,#.Q+90P$PDQ,8002=H]&-]8F!8` M7:K)Z,BV01B+!+`8,H@D[I0C(_8-H,LLV3"W0/IV&\>67[>MX0=G--LW;L1^NO&[>7B]!GVFXR`O>K]5C?KG*_*QFM3P5 MK^5?1?MZ.':SEZ;OFWJ\S-LU35]ZA\D7/V3[LMA>'ZIRUP\_K?_=7BXT+P]] M<_JXG[U>$J_^!U!+`P04````"`!Q90Y'`&+GO)\!``"Q`P``&````'AL+W=O M0/"%[L;:.5UU(V5=4<(D4Y MM&?6'MLHP+B`U^G?![#7<;:^`#/,>_-F&(H1S9OM`!QY5U+;8](YUQ\HM54' MBML[[$'[FP:-XLZ;IJ6V-\#K"%*2LC3]1A47.BF+Z'LQ98&#DT+#BR%V4(J; M?R>0.!Z377)UO(JV<\%!RX(NN%HHT%:@)@::8_*P.YSR$!$#?@L8[>I,@O8S MXELPGNICD@8)(*%R@8'[[0*/(&4@\HG_SIR?*0-P?;ZR_XS5>O5G;N$1Y1]1 MN\Z+31-20\,'Z5YQ_`5S"?M`6*&T<2758!VJ*R0ABK]/N]!Q'Z>;^W2&;0/8 M#&`W`#HEBC)_<,?+PN!(S-3:GH<7W!V8;T05G+'N>.>%6N^]E+N,%?02B.:8 MTQ3#UC%+!/7L2PJVE>+$_H.S;7BVJ3"+\.R+PFR;(-\DR"-!_H4@OREQ*V9_ MDX2N>JK`M'%T+*EPT'%05]YE.A]8?)//\++H>0O/W+1"6W)&YU\V]K]!=."E MI'?[A'3^_RR&A,:%XW=_-M-(38;#_OI!EE]:?@!02P,$%`````@`<64.1]<` MFWZA`0``L0,``!@```!X;"]W;W)KVKZP`\>=/*N"/MO.\/C+FJ`RW<#?9@PDV#5@L?3-LRUUL0=0)IQ7B6W3$M MI*%ED7S/MBQP\$H:>+;$#5H+^_<$"L0*E(%!+_N7*^ MIXS`]7EF_Y:J#>K/PL$3JM^R]ET0FU%20R,&Y5]P_`[7$FXC887*I954@_.H M9P@E6KQ-NS1I'Z>;?(9M`_@5P!?`0Y:$3XF2S*_"B[*P.!([M;87\05W!QX: M445GJCO=!:$N>"_E;G]7L$LDNL:;"O<) MOO^@\'Z;(-\DR!-!_H'@X5.)6S%?/B5AJYYJL&T:'4M'"3V%;:1PYHP\OF_K?('H(4K*;6TJZ\'\60T'CX_$^G.TT4I/AL9\_ MR/)+RW]02P,$%`````@`<64.1[2Z:$BA`0``L0,``!@```!X;"]W;W)K[&VKE==2-E'5'")%.;1GUA[; M*,"X@-?IWQ>PUW$2YP+,,._-FV$H1C0OM@-PY%5);8])YUQ_H-16'2AN;[`' M[6\:-(H[;YJ6VMX`KR-(2YPRD-$#/@M8+2K,PG:SX@OP7BH MCTD:)("$R@4&[K<+W(&4@<@G_CMSOJ4,P/7YROXS5NO5G[F%.Y1_1.TZ+S9- M2`T-'Z1[QO$7S"7L`V&%TL:55(-UJ*Z0A"C^.NU"QWV<;O;9#-L&L!G`%L"/ M-`J?$D69]]SQLC`X$C.UMN?A!7<'YAM1!6>L.]YYH=9[+^4N3PMZ"41SS&F* M8>N8)8)Z]B4%VTIQ8I_@;!N>;2K,(CQ[I_"+_/DF01X)\G<$[$.)6S'9AR1T MU5,%IHVC8TF%@XZ#NO(NTWG+XIN\A9=%SUMXY*85VI(S.O^RL?\-H@,O);W9 M)Z3S_VPUW%27X`9YKUY,PS%B/;5 M=0">O&EEW(EVWO='QES5@1;N#GLPX:9!JX4/IFV9ZRV(.H&T8CS+[ID6TM"R M2+YG6Q8X>"4-/%OB!JV%_7L&A>.)[NC-\2+;SD<'*PNVX&JIP3B)AEAH3O1Q M=SSG,2(%_)(PNM691.T7Q-=H_*A/-(L20$'E(X,(VQ6>0*E(%!+_F3G?4T;@ M^GQC_Y:J#>HOPL$3JM^R]ET0FU%20R,&Y5]P_`YS"8=(6*%R:275X#SJ&X02 M+=ZF79JTC]/-/I]AVP`^`_@"^)(EX5.B)/.K\*(L+([$3JWM17S!W9&'1E31 MF>I.=T&H"]YKN"_`/!_:<2MV(>/B5AJYYJL&T:'4M'"3V%;:1RYH`\OF_K?('H(4K*[`R5=^#^+H:#Q\?@0SG8:J&UL;5/!;MP@$/T5Q`<$+^MMTY774C95U1XJ13FT9]8>VRC` MN(#7Z=\7L-=Q4E^`&>:]>3,,Q8CVQ74`GKQJ9=R)=M[W1\9LMB#J!M&(\RSXQ+:2A99%\3[8LV[(#:CI(9& M#,H_X_@=YA(.D;!"Y=)*JL%YU#<()5J\3KLT:1^GFT,^P[8!?`;P!7"?)>%3 MHB3SJ_"B+"R.Q$ZM[45\P=V1AT94T9GJ3G=!J`O>:[G+[PMVC41SS'F*X>N8 M)8(%]B4%WTIQYO_!^39\OZEPG^#[=PJ_;!/DFP1Y(LC7!(?L0XE;,1^+9*N> M:K!M&AU'*AQ,&M25=YG.!Y[>Y"V\+'K1PD]A6VD+V!GO0_J9!H[CSIFFI[0WP.H*4I"Q-?U#%A4[* M(OJ>3%G@X*30\&2('93BYOT$$L=CLDMFQ[-H.Q<;)J0&AH^2/>,XR^XEK`/A!5*&U=2#=:AFB$) M4?QMVH6.^SC=9#-L&\"N`+8`[M(H?$H49?[DCI>%P9&8J;4]#R^X.S#?B"HX M8]WQS@NUWGLI=WM6T$L@NL:-_6\0'7@IZ.O/9AJIR7#8SQ]D^:7E M!U!+`P04````"`!Q90Y'$CL+=*(!``"Q`P``&0```'AL+W=OVK:P$\>=/*N!-MO>^.C+FR!2W<'79@PDV- M5@L?3-LPUUD050)IQ7B6W3,MI*%%GGS/MLBQ]TH:>+;$]5H+^_<,"H<3W="; MXT4VK8\.5N1LQE52@W$2#;%0G^CCYGC>Q8@4\$O"X!9G$K5?$%^C\:,ZT2Q* M``6ECPPB;%=X`J4B44C\9^)\3QF!R_.-_5NJ-JB_"`=/J'[+RK=!;$9)!;7H ME7_!X3M,)>PC88G*I964O?.H;Q!*M'@;=VG2/HPW_##!U@%\`O`9<,B2\#%1 MDOE5>%'D%@=BQ]9V(K[@YLA#(\KH3'6GNR#4!>^UV.SO8SARY@Y M@@7V.05?2W'F_\'Y.GR[JG";X-L/"A_6"7:K!+M$L/M`1$GN3!G7AG:?SD:0\O\DXT\%/81AI'+NC#RZ;^UX@>@I3L;D]) M&_[/;"BH?3P^A+,=1VHT/':W#S+_TN(?4$L#!!0````(`'%E#D="#8Z`H0$` M`+$#```9````>&PO=V]R:W-H965T#@E33P9(D;M!;VSPD4CD>ZHU?'LVP['QVL+-B"JZ4&XR0:8J$YTOO= MX93'B!3P2\+H5F<2M9\17Z+QHS[2+$H`!96/#")L%W@`I2)12/PZ<[ZGC,#U M^82;B-AA)MV:=(^3C[(-0%[Z78TQ?!US!+!`ON2@F^E./%_X'P;OM]4N$_P_0>% M_\F?;Q+DB2#_0,`_E;@5L_^4A*UZJL&V:70PX[I97X`9YKUY,PSY@.;=M@".?"BI[3%IG>L.E-JR!<7M'7:@_4V- M1G'G3=-0VQG@500I25F:[JGB0B=%'GW/ILBQ=U)H>#;$]DIQ\^\$$H=CLDFN MCA?1M"XX:)'3&5<)!=H*U,1`?4P>-X=3%B)BP*N`P2[.)&@_([X'XW=U3-(@ M`224+C!POUW@":0,1#[QWXGS*V4`+L]7]I^Q6J_^S"T\H7P3E6N]V#0A%=2\ ME^X%AU\PE;`+A"5*&U=2]M:AND(2HOC'N`L=]V&\>4@GV#J`30!V`Z!CHBCS M!W>\R`T.Q(RM[7AXPJ/7>2['99SF]!*(IYC3&L&7,'$$] M^YR"K:4XL?_@;!V^756XC?#M-X6[=8)LE2"+!-DW@OU-B6LQ]S=)Z**G"DP3 M1\>2$GL=!W7AG:?SD<4W^0HO\HXW\(>;1FA+SNC\R\;^UX@.O)3T;I>0UO^? MV9!0NW"\]V&PO=V]R:W-H965THD<2TU7U>[#2E4?VF=BCVU48%S`?4^F MR+%W4FAX,L3V2G'S[P@2AP/=T(OC632M"PY6Y&S&54*!M@(U,5`?Z/UF?\Q" M1`QX$3#8Q9D$[2?$MV#\J0XT"1)`0ND"`_?;&1Y`RD#D$[]/G%\I`W!YOK`_ MQFJ]^A.W\(#R552N]6(32BJH>2_=,PZ_82IA%PA+E#:NI.RM0W6!4*+XQ[@+ M'?=AO-EE$VP=D$Z`=`;<)E'XF"C*_,4=+W*#`S%C:SL>7G"S3WTCRN",=<<[ M+]1Z[[G87-_F[!R(IICC&),N8^8(YMGG%.E:BF/Z'SQ=AV]7%6XC?/M-X=TZ M0;9*D$6";$EPD_PH<2WF9Y%LT5,%IHFC8TF)O8Z#NO#.TWF?QC?Y"B_RCC?P MEYM&:$M.Z/S+QO[7B`Z\E.1J1TGK_\]L2*A=.-[XLQE':C0<=I&UL;5/!;MP@$/T5Q`<$+^MMVI774C95U1XJ13FT9]8>VRC`N(#7 MZ=\7L-=Q4E^`&>:]>3,,Q8CVQ74`GKQJ9=R)=M[W1\9LMB#J!M&(\RSXQ+:2A99%\3[8LV[(#:CI(9&#,H_ MX_@=YA(.D;!"Y=)*JL%YU#<()5J\3KLT:1^GF_S+#-L&\!G`%\#G+`F?$B69 M7X4796%Q)'9J;2_B"^Z./#2BBLY4=[H+0EWP7LO=/2_8-1+-,>0?2MR*.7Q(PE8]U6#; M-#J.5#B8-*@K[S*=#SR]R5MX6?2BA9_"MM(X&*(!``"Q M`P``&0```'AL+W=O6_>#$,^H'FS+8`C M'TIJ>TA:Y[H]I;9L07%[A1UH?U.C4=QYTS34=@9X%4%*4I:F-U1QH9,BC[YG M4^38.RDT/!MB>Z6X^7<$B<,AV207QXMH6A<X!RD#D4_\/G%^I0S`Y?G" M_A"K]>I/W,(]RK^B!L$1IXTK*WCI4%TA"%/\8 M=Z'C/HPW&9M@ZP`V`=@,N$VC\#%1E/F;.U[D!@=BQM9V/+S@9L]\(\K@C'7' M.R_4>N^YV.QNQ4>D7^%%WO$& M_G#3"&W)"9U_V=C_&M&!EY)>72>D]?]G-B34+AQW_FS&D1H-A]WE@\R_M/@$ M4$L#!!0````(`'%E#DH0$``+$#```9````>&PO=V]R:W-H965T*D4YM&?6'MLHP+B` MU^G?%[#7<5+W`LPP[\V;82A&M"^N`_#D52OC3K3SOC\RYJH.M'!WV(,)-PU: M+7PP;WVB690` M"BH?&438KO`(2D6BD/CWS/F6,@+7YQO[UU1M4'\1#AY1_9*U[X+8C)(:&C$H M_XSC-YA+.$3""I5+*ZD&YU'?()1H\3KMTJ1]G&X.^0S;!O`9P!?`?9:$3XF2 MS"_"B[*P.!([M;87\07S(P^-J*(SU9WN@E`7O-;_P/DV?+>I<)?@NW<*_Y-_OTFP3P3[=P3\0XE;,;L/2=BJIQIL MFT;'D0H'DP9UY5VF\X&G-WD++XM>M/!#V%8:1R[HP\NF_C>('H*4[.Y`21?^ MSV(H:'P\?@YG.XW49'CL;Q]D^:7E7U!+`P04````"`!Q90Y'DNA#":(!``"Q M`P``&0```'AL+W=O`5Q&D)$N39,\4%YH6>?0] MFR+'WDFAX=D0VRO%S9\32!R.=$.OCA?1M"XX6)&S&5<)!=H*U,1`?:3WF\,I M"Q$QX%7`8!=G$K2?$=^#\5@=:1(D@(32!0;NMPL\@)2!R"?^/7%^I@S`Y?G* M_C-6Z]6?N84'E&^BBX#^/-[7Z"K0/2"9#.@+LD"A\319D_N.-%;G`@9FQMQ\,+;@ZI;T09G+'N M>.>%6N^]%)N[+&>70#3%G,:8=!DS1S#//J=(UU*MQ+68_;&PO=V]R:W-H965TX;1HYEIJNJNYAI:J'W3.QQS8J>%S` MRX;M<78(9Y;]X,0S:@>;4-@"/O6K7V0!OGNCUCMFA`"WN%';3^ID*C MA?.FJ9GM#(@R@K1B/$ENF!:RI7D6?<\FS[!W2K;P;(CMM1;FXP@*AP/=T(OC M1=:-"PZ69VS&E5)#:R6VQ$!UH/>;_3$-$3'@KX3!+LXD:#\AO@;C=WF@29`` M"@H7&(3?SO``2@4BG_AMXOQ*&8#+\X7],5;KU9^$A0=4_V3I&B\VH:2$2O3* MO>#P!%,)UX&P0&7C2HK>.M07""5:O(^[;.,^C#B*>8XQO!ES!S! M//N<@J^E./+_X'P=OEU5N(WP[3>%NW6"=)4@C03I-X*['R6NQ-PE/Y*P14\U MF#J.CB4%]FT.M/YMQI$;#87?Y(/,OS3\!4$L#!!0````(`'%E#D=0\5,BH@$` M`+$#```9````>&PO=V]R:W-H965T0/ M"#;V]K+R6LJFJMJ'2E$>VF?6'MLHP+B`U^G?%[#7<5+W!9AASIDSPU!.:)YM M#^#(BY+:GI+>N>%(J:U[4-S>X0#:W[1H%'?>-!VU@P'>1)"2E*7I!ZJXT$E5 M1M^CJ4HP!X?D; MA?\A*'8)BDA0O"'(WY6X%U.\2T(W/55@NC@ZEM0XZCBH&^\ZG?%4. MO(,?W'1"6W)!YU\V]K]%=."EI'>'A/3^_ZR&A-:%XT=_-O-(S8;#X?9!UE]: M_0502P,$%`````@`<64.1RB@^@ET`@``(PH``!D```!X;"]W;W)K&UL=5;;CILP%/P5Q`T=1"'.)WS0?U,(YL M\GLAWNWDYV$3IS8'WO!26PIF'A?^PIO&,AGEOU?23TT;^#B^L7]WVS7I[YGB M+Z+Y4Q]T9;)-X^C`C^S8P,';ZD85E`(*_^@A*'#V)%"I9$I!_-.' MH,#Q$UBN6T(!A6\`"`HX@."Z)AF@\#T`00$3$%S^9%K;E/@V@*"0#_`-0*;E M37*]BHI*<>Y<:_2P>N^'MM0U M`9_P(N_9B?]B\E1W*MH+;5H)]\$_"J&YR25],IZL3,=VGS3\J.UP:<9R[&'& MB1;]K26[]X7%?U!+`P04````"`!Q90Y'1HCK<:$!``"Q`P``&0```'AL+W=O M+V!GO0_J9!H[CSIFFI[0WP.H*4I"Q-?U#%A4[*(OJ>3%G@X*30\&2('93B MYO\))([')$NNCF?1=BXX:%G0!5<+!=H*U,1`;)J0&AH^2/>,XR^82]@'P@JEC2NI!NM072$)4?QMVH6.^SC=[-,9M@U@ M,X`M@-L(H%.B*/.!.UX6!D=BIM;V/+Q@=F"^$55PQKKCG1=JO?=2LEU:T$L@ MFF-.4PQ;Q61+!/7L2PJVE>+$OL'9-GRWJ7`7X;MU]GR_39!O$N21(/]48O:E MQ*V8KRKIJJ<*3!M'QY(*!QT'=>5=IO..Q3?Y""^+GK?PAYM6:$O.Z/S+QOXW MB`Z\E/1FGY#._Y_%D-"X&UL;5/! M;MP@$/T5Y`\(7NQ-DY774C95E1XJ13FT9]8>VRC`N(#7Z=\'L-=Q4E^`&>:] M>3,,Q8CFU78`CKPIJ>TQZ9SK#Y3:J@/%[0WVH/U-@T9QYTW34ML;X'4$*4E9 MFMY2Q85.RB+ZGDU9X."DT/!LB!V4XN;?"22.QV277!TOHNU<<-"RH`NN%@JT M%:B)@>:8/.P.ISQ$Q(#?`D:[.I.@_8SX&HR?]3%)@P204+G`P/UV@4>0,A#Y MQ']GSH^4`;@^7]E_Q&J]^C.W\(CRCZA=Y\6F":FAX8-T+S@^P5S"/A!6*&U< M2358A^H*28CB;],N=-S'Z2:_GV';`#8#V`*X2Z/P*5&4^9T[7A8&1V*FUO8\ MO.#NP'PCJN",=<<[+]1Z[Z5D65;02R":8TY3#%O%[)8(ZMF7%&PKQ8G]!V?; M\&Q381;AV3I[?K]-D&\2Y)$@_U1B_J7$K9C]ER1TU5,%IHVC8TF%@XZ#NO(N MT_G`XIM\A)=%SUOXQ4TKM"5G=/YE8_\;1`=>2GJS3TCG_\]B2&A<.'[S9S.- MU&0X[*\?9/FEY3M02P,$%`````@`<64.1P[`]2>A`0``L0,``!D```!X;"]W M;W)K&UL;5/!CML@$/T5Q`VVB!<0''V[\O8,?KIKX`,\Q[\V88\@'MNVL!//G0RK@3;;WOCHRY ML@4MW`-V8,)-C58+'TS;,-=9$%4":<5XECTR+:2A19Y\K[;(L?=*&GBUQ/5: M"_OG#`J'$]W0F^---JV/#E;D;,954H-Q$@VQ4)_H\^9XWL6(%/!3PN`69Q*U M7Q#?H_&].M$L2@`%I8\,(FQ7>`&E(E%(_'OB_$P9@%+G%@=BQM9V(+[@Y\M"(,CI3W>DN"'7!>RWX]C%GUT@T MQ9S'&+Z(V2<:^"%L(XTC%_3A95/_ M:T0/04KVL*>D#?]G-A34/AX/X6S'D1H-C]WM@\R_M/@+4$L#!!0````(`'%E M#D&PO=V]R:W-H965T]P?&7-6!%NX.>S#AID&KA0^F;9GK+8@Z@;1B M/,L>F!;2T+)(OA=;%CAX)0V\6.(&K87]=P*%XY'NZ-7Q*MO.1P4C@PC;!9Y!J4@4 M$O^=.3]21N#Z?&7_GJH-ZL_"P3.J/[+V71";45)#(P;E7W'\`7,)]Y&P0N72 M2JK!>=17""5:O$^[-&D?IYNOV0S;!O`9P&\`;$J49'X37I2%Q9'8J;6]B"^X M._#0B"HZ4]WI+@AUP7LI^?ZQ8)=(-,>MPGR38(\$>3K_'EV4^)6S&V1;-53#;9-H^-(A8-)@[KR+M/Y MQ-.;?(2712]:^"5L*XTC9_3A95/_&T0/04IV=T])%_[/8BAH?#Q^"6<[C=1D M>.RO'V3YI>5_4$L#!!0````(`'%E#D?Z0<-*H`$``+$#```9````>&PO=V]R M:W-H965T]T?&7-6! M%NX!>S#AID&KA0^F;9GK+8@Z@;1B/,L^,2VDH661?"^V+'#P2AIXL<0-6@O[ MYPP*QQ/=T9OC5;:=CPY6%FS!U5*#<1(-L=",YC1`KX*6%TJS.)VB^( M;]'X7I]H%B6`@LI'!A&V*SR#4I$H)/X]82'B-AA)]V:=(^3C>?LQFV#>`S M@-\!V)0HR?PBO"@+BR.Q4VM[$5]P=^2A$55TIKK371#J@O=:\IP7[!J)YICS M%,-7,;LE@@7V)07?2G'F_\'Y-GR_J7"?X/MU]L-AFR#?),@30?Y/B?N[$K=B M\KLD;-53#;9-H^-(A8-)@[KR+M/YQ-.;?(2712]:^"%L*XTC%_3A95/_&T0/ M04KV\$A)%_[/8BAH?#P>PME.(S49'OO;!UE^:?D74$L#!!0````(`'%E#D?@ M-=S0HP$``+$#```9````>&PO=V]R:W-H965T0/*`YQVBAR+#6MJO90J>IA]TSLL8T*C`LX[O[]`G9<;]<78(9Y;]X, M0SZ@^;`M@"-?2FI[3%KGN@.EMFQ!<7N#'6A_4Z-1W'G3--1V!G@504I2EJ:W M5'&ADR*/OC=3Y-@[*32\&6)[I;CY;PRD+$3'@EX#!+LXD:#\C?@3CI3HF:9``$DH7&+C?+O``4@8BG_AS MXOQ.&8#+\Y7]*5;KU9^YA0>4OT7E6B\V34@%->^E>\?A&:82=H&P1&GC2LK> M.E172$(4_QIWH>,^C#>[_01;![`)P&;`/HW"QT11YB-WO,@-#L2,K>UX>,'- M@?E&E,$9ZXYW7JCUWDO!LEU.+X%HBCF-,6P1LYDCJ&>?4["U%"?V'YRMP[>K M"K<1OEUFW^_7";)5@BP29/^4>/NCQ+68NQ])Z**G"DP31\>2$GL=!W7AG:?S MGL4W^0XO\HXW\,I-([0E9W3^96/_:T0'7DIZLTM(Z__/;$BH73C>^;,91VHT M'';7#S+_TN(O4$L#!!0````(`'%E#D=_:L*N&@,``)T,```9````>&PO=V]R M:W-H965T=WNQ.NB>Q!GWJ@G!]'6A52W[='KSBTO]L:HKCSL^Y%7%V7CIHF9>V[31%QD M53;\N76Z2UT7[;^,5^*Z=9%[FW@ICR>I)[PT\4:[?5GSIBM%X[3\L'4?T>8) M8PTQB-\EOW:3L:/)OPKQIF]^[K>NKSGPBN^D=E&HRSO/>55I3RKRW\'I/:8V MG(YOWK^;=!7]UZ+CN:C^E'MY4FQ]U]GS0W&IY(NX_N!##J%VN!-59_Z=W:63 MHKZ9N$Y=?/37LC'7:_^$^8,9;(`'`SP:C'%@`S(8D+M!\*E!,!@$=X/(E*9/ MQ13BJ9!%FK3BZK3]ZIT+O4G0)E"EWNE)4UGS3)6B4[/O*0Y8XKUK1P,FZS%X M@D%SQ-,2@8-XQ'B*P4@#0S0RO'0P#Y$O$8Q8+``G(4R"@+4@QI[,['W800`Z M"(R#8.;`*E4&83`<)`2#A(`#JQ)9CZ$&TQ@,P3$E]K(M89C0.(#91"";"&`3 M6&P@S,K"4#`(!1Q$5A`(0^$@#`S"``?V26#+@M&8V%SR)0S%,<4K>RD&Z<0` MG=BBTV/"V3*C29B>3;PDS93NPV2T2$(RX2_I1+ZM$_Z"#_7U;R74BB(A()1] MB@;0;(>3>:Q!F0"@_QDI4)\>$09(89L47N3/V))3#N!HL,X(%BM$`$:V#@R@ M:?;?",)DHHL#)0"(6+H/ZB=>E+?"N--Q0]2#ZD:MWWWW-](<;Y]#(Q? M).E_4$L#!!0````(`'%E#D=$43$PI0$``.\#```9````>&PO=V]R:W-H965T M/OW!>RXWJS5%\,,YQS.S)AJ1/-J>P!'WI34]D![YX8]8[;I07'[@`-H M?]*A4=SYT)R9'0SP-I*49%F2/#+%A:9U%7//IJ[PXJ30\&R(O2C%S9\GD#@> M:$IOB1=Q[EU(L+IB"Z\5"K05J(F![D`_I_MC$1`1\%/`:%=[$KR?$%]#\+T] MT"18``F-"PK<+U];\=V4@KON]V822 M%CI^D>X%QV\PE[`+@@U*&[^DN5B'ZD:A1/&W:14ZKN-T4CS.M&U"-A.RA9`6 M_R7D,R&_([#)6:SK"W>\K@R.Q$RS&'@8>;K/?>>:D(R-BF>^,NNSUSHKLXI= M@]",>9HPV1KS'G'<0.P6"/,&%A?9IHLL\HL5?U=N\_--?A[Y^;LJ\FV!8E.@ M^&C@TUT7)D@9(3I"DKLN?$2D>5FD]YU@J]D,_`P_N#D+;&UL?91=DYL@ M&(7_BN-]%Q3\2,8XLTFGTUYT9F2S[&MNEL.XPK*)EL;D,X&<+9$.#_&M!D0"L#&,EL75^) M(GDF^.")\2YZ8JX\V"-]\C#!&;B9H$ES'#7A4O.H.#D4 MT2P!&F"F")T4H?6C!XI_!"!G`+(!^"$@7I4Q:A*KZ:PF27"J&)`4G,WV[VL,8;F, M)?(2P)DSGG-\QN#E39;OU5D(Y7SF65&MW+-2EV?/J_9GD2?5D[R(0O]SE&6> M*/U8GKSJ4HKD8(+RS*.^'WEYDA;N>FG&7LOU4EY5EA;BM72J:YXGY;^-R.1M MY1+W/O"6GLZJ'O#62Z^+.Z2Y**I4%DXICBOWA3QO&:TA!O$[%;>J=^_4XG=2 MOMMUG>=@S@FUTR]R=L/T>80UH1[F57FU]E?*R7S>XCKY,EGW1"7K92EO3MDLQB6IUYP\,UVY M?3UH"F7^TYE5>O1C36.^]#YJHA:S:3"TAR$=PM/LW1043;&ADW`ZG&`+$"&> M@<$DF(EG_?B%CPD"2!`8@F!`0$95:#"QP10-AA/&PL4H&8!;Q(3ZEIJ%4%`( M!(VJMFDP87^B("`\8B-!".<'$;-4*(*"HHD@%HST1)-Y@I@P'H[D`%@4A;&E M/#%4$X/R,$RP@`2+^1W#(0&?T3$<=$(8A?ZH('RZ/D/80$Z]*2$?^T#0>(4@ MR.(T8MDO"*"(+!1P/W@A='[Q"38\83/*WX+Z]0\8&>\]+2JTH89R\/9!T/X1 M6RBPX4GX0%&P13)GE\K9RVMACDJ]T>Y\]&*.1]X7?+V\)"?Q*RE/:5$Y.ZGT2<%\SQ^E M5$)K\9]T\Y_U":Y[R,11U;>QOB^;,TWSH.3E?D3KSHGK_U!+`P04````"`!Q M90Y'G[+4HZ0]3`UCT);@T^ZBVMMUA;/(:!#,/J@7I;DJE!;/NJ"ML6@VL""3! M,8GC1RQ8(Z,L#;8WG:6JL[R1\*:1Z81@^OL`7/7[*(DNAO>FJJTWX"S%$Z]H M!$C3*(DTE/OH.=D=5QX1`'\;Z,ULCWSL)Z4^_.%WL8]B'P)PR*U78&XYPQ$X M]T+.\>>H>77IB?/]1?TE9.NB/S$#1\7_-86M7;!QA`HH6;*CKG*Y-X9"A3N7F7'67OEPL*J] MS.STX\A^`%!+`P04````"`!Q90Y'+VB@\AX$``"6%0``&0```'AL+W=O^&1E494A3%8947]6*U'-Y] M;59+?>[*HE9?FZ`]5U7>_+=6I;X\+MCB[<6WXG#LS(MPM0RO[79%I>JVT'70 MJ/WCXHD]/,O(2`;%]T)=VMES8()_T?JG^?)Y][B(3`RJ5-O.F,C[CU>U465I M+/6>?TU&__@T#>?/;];_&=+MPW_)6[71Y8]BUQW[:*-%L%/[_%QVW_3E7S7E M((W!K2[;X7^P/;>=KMZ:+((J_SU^%O7P>1E_2:.I&6Y`4P/Z:`,^->#7!DR\ MVT!,#835(!Q3&3KB.>_RU;+1EZ`91^^4FTG"'D3?U5OS^*]K^[>N* MLG@9OAI#DV8]:FBF85=%V%N_NB#D8DU.<[IUL'$5*;^5/`,C$@?!89Y\:,]O M\DRP`0$-B,&`N#&06ATU:I)!4P^:R,K453"9Q#@.">.0(([,BL/5\"C"3F+H M)`8&F.4D_FNRHT+.DQ4R\F2;P$`2$(@U>]:)VZX,&#"GJR3:#XN61Q; M26\FE?S[Z#%8A9X8N;&PR(Z%W+F42I;9P="'@\'5B'$0C*>H,ER/F/AX16.X ME#!0)YA-%Q1QCQ]<31@H)TS8?MQZ$C-AKQ3,K2F^GL<%A;D5A5'F,8$+`4OO MZ'F,.0,,,YMS("+I6?0(@TZ`868O[U#DR8KB<,,0&(R888 MBGP[%LPG`3[))@.(_..#(29W5\')7E2@R+.J$":=`,1DSS<@(DD>/YAT`J23 M,]^0R#??,,7D4AQ[:A)AB.D.B`E#3&@A=B9)YJXH<=J/G\<7QR!SP"C9@$&1 M!S".0>:`46X#QMT5V]YQW?K",'/`*?=PRCV[^CNV]1PCR`%=SBA.HOFRD[(X MD9XYQS&%'%#(/8!Q#!B/[T@8L\/!GIK;-6<2S1,F^=X08\HXV!!S>^6?1#>^ MB/RN,(T>3<+=R[[;N0+S(Q`_GH.`P/R(>X[% MGG,QX(?;9PGA\L,2L@_Y&_'>`?HV&$R80(1YSBP"$R;N($Q@P@0BS#[V")
[,)=#L[?6J\8G,[9?U?LT>-N.%X1\SJ^4I/Z@O>7,HZC9XT5VGJ^$&;*]U MI_HXHT_]H!Q5OKM^*=6^,X])_]R,UX;CETZ?WFY!KU>QJ_\!4$L#!!0````( M`'%E#D<8N#^7]P$``.`%```9````>&PO=V]R:W-H965T6=7CE*US-BA.B'= M*\X.WM0*1#`N4,N:+JY*/_>BJE*>C6@Z_J(B?6Y;IOX\RBQ0_;N*G9+VE3N$%OQH^Z$4_D8$#J`[*;@#0H8]10K^F\)L$K M@H-2`!5Y7&4P3`;"9`!,%L",FGRQ30ARKT@P7<$<.S9B?]DZM1T.MI)8^^UOWU'*0VWB?C!%E;;YW8>"'XTKDMM7XTOT#@P MLK^^I_.C7OT%4$L#!!0````(`'%E#D=65/V'+0(``),'```9````>&PO=V]R M:W-H965T.#[;S3LAW53*FO8^:-VKEEUJW2X34 MKF0U54^B98U9.0A94VV&\HA4*QG=.U+-48AQ@FI:-7Z1N[E76>3BI'G5L%?I MJ5-=4_GGF7'1K?S`OTR\5<=2VPE4Y&CD[:N:-:H2C2?98>5_"9:;P$$];\5HAW._B^7_G8>F"<[;25H*8YLS7CW"J9R+\'T<^8ECCM7]2_NG2- M_2U5;"WXKVJO2^,6^]Z>'>B)ZS?1?6-##K$5W`FNW-?;G906]87B>S7]Z-NJ M<6W7KV1XH,&$<""$(R&(_DD@`X$\2H@&0O0H(1X(\8R`^MS=SKU038M8S(AF$SH^&1J-,:P``$%B!.(K@2"6:8])G68QF$"G.`9 M:@.@2(H3V$P$FHD`,[--7?>8>!HFFF]\=&,E3%/82`P:B0$C!!9(0('D\;JD MH$`*.(AF?VEZDR9)2);!83(P3`:$B6=A,J#\60A'68!1%D"49!8%PMRIF;T' MH8.-`8F;DPV!%G?BW+E`@@?.S`#ZWZ&!8,"I09/+K:5']H/*8]4H;RNTN2?= M;7800C,CB9_,SUN:%W(<<';0MIN:ONS?C'Z@17MY`L=WN/@+4$L#!!0````( M`'%E#D?JV.S:S0$``(\$```9````>&PO=V]R:W-H965T0/*+ZEB2+'4N.J:A\J57W8?2;V^*)R<0''W;]?P([KI.R^ M&!C..7,&&&>CD!^J!=#HBU&N#D&K=;_'6)4M,*+N1`_<[-1",J+-4C98]1)( MY4B,XC@,[S$C'0_RS,7>9)Z)0=..PYM$:F",R#]'H&(\!%%P";QW3:MM`.<9 M7GA5QX"K3G`DH3X$#]&^V%B$`_SJ8%2K.;+>3T)\V,5+=0A":P$HE-HJ$#.< MH0!*K9!)_#EK?J>TQ/7\HO[DJC7N3T1!(>COKM*M,1L&J(*:#%2_B_$9YA*< MPU)0Y;ZH')06[$()$"-?T]AQ-X[33KJ;:7Y"/!/BA;`+_TM(9D*R$*+453HY MDN>F*O/-HGYN1*&W0'Y?9,9&2>M^3LL"PJUMM.MF&PO M=V]R:W-H965T=UH>0/%4;G`0+(*!T08'YY01;$"((^8/_#YK?1P;B97Q6_Q>[]>YWS,)6 MBW=>N<:;33"JH&9'X5YU]PA#"_,@6&IAXQ>51^NT/%,PDNRC7[F*:]?OW"<# M;9J0#81L)*2S7PET(-`;`NF=Q;[^,L>*W.@.F?XN6A:N/%U3/[DR%..@XI[O MS/KJJ:"+>4Y.06C`//28[`*372.V$XAO$>(-C"ZR21=9Y-,K%XMI`3HI0*/` M[$I@>=-&CUE&C(J8-*&+]*:5GRBZ6LW2U8T;G_JCYQNCV_D?&A%E]02P,$%`````@`<64. M1W_!),'S`0``L@4``!D```!X;"]W;W)K&UL=93? MCIP@&,5?Q?@`BZ"(3AR3SC9->]%DLQ?M-:,XFD6QP(S;MR_@C'65O9%_YSN_ M@PK%).2;:AG3P7O/!W4,6ZW'`P"J:EE/U9,8V6!6&B%[JLU07H`:):.U*^HY M0%&4@IYV0U@6;NY%EH6X:MX-[$4&ZMKW5/X],2ZF8PC#Q\1K=VFUG0!E`9:Z MNNO9H#HQ!)(UQ_`+/)QRJW""7QV;U*H?V.QG(=[LX$=]#",;@7%6:>M`37-C MSXQS:V3`?^Z>_Y&V<-U_N']SNS7ISU2Q9\%_=[5N3=@H#&K6T"O7KV+ZSNY; MP-:P$ERY9U!=E1;]HR0,>OH^M]W@VFE>2=)[F;\`W0O04H#FX#/(Q?Q*-2T+ M*:9`SJ]VI/8+P@,R+Z*RDV[?;LT$56;V5L9I5H";-;IK3K,&?=#DBP88_P6" MO!#D#.*U`8G\!K'7('8&V!D,S@!%$&]BSB*R$N&$Q##U@Q(O*/&!T@UH+\(Q M3M$G(.P%81^(;$![49*1E$`_*/6"4A]H^X7W(@PS^!F(>$'$!\HWH+T(HP01 MY`=E7E#F/)(/?Q/<<+)]&)@E"?%SI#NIE9: M,.N.NL&FU\"J0!(UDV$=IYOL9::M$\A,(`MA\;-. MH#.!7@BA='B*+.3U@UE6Y%J-2$^]Z)EO>;*EKG*E-X9"A3N7F7'64T$W-,$2\T'4/=#4)&OCT)HEX72!=%4B# M0'HCD-Y58<)L`D9.5<@R0I*[7%9@SS1]"`=?-4B`;L+#-:A4@[2^%%?6939> MB6_PG7WO9F9ZXA>9(N]9`^],-YTTZ*BL>SZAR;52%ER4\5,6H=9-]7+@4%N_ MW;B]GA[Z=+"J/X_M\N\H_@-02P,$%`````@`<64.1\%.-2"I`0``)P0``!D` M``!X;"]W;W)K&ULC93=4K,P$(9O)<,%&$@+U0YE MYJN.HP?..![H<0I+R9@?3-*B=V\2*+:?.9`#DFS>]]E=")2#TN^F`[#H4W!I M-DEG;;_&V-0="&JN5`_2[;1*"VK=4N^QZ370)I@$QR1-"RPHDTE5AMBSKDIU ML)Q)>-;('(2@^FL+7`V;)$M.@1>V[ZP/X*K$LZ]A`J1A2B(-[2;YEZVWA5<$ MP2N#P9S-D:]]I]2[7SPVFR3U)0"'VGH"=<,1;H%S#W*)/R;F3TIO/)^?Z/>A M6U?]CAJX5?R--;9SQ:8):J"E!VY?U/``4PNY!]:*FW!']<%8)4Z6!`GZ.8Y, MAG$8=Z[3R18WD,E`9@,)!CPF"F7>44NK4JL!Z?'1]M2_P6Q-W(.H?3#T'?9< MH<9%C]5BE9?XZ$&39CMJR(6FF#78\>`Z_^J M'#5YT,B@616IN^)YEM$\RTB>FS@@CP+ROW=:1`'%'SHM?G6:92GYW2H^.P0] MW<,3U7LF#=HIZ\Y3>.NM4A8<,[URN,Y]M?."0VO]=.7F>CS(X\*J_O19SO^& MZAM02P,$%`````@`<64.1VY/6Y))`@``@@<``!D```!X;"]W;W)K&ULE55=DYL@%/TKCC]@11`_,L:9))U.^]"9G7UHGXDAT5D5 M"R1N_WT!$V,4N^F+P/7<<\\]#)!VC+^+@E+I?-15(]9N(66[\CR1%[0FXH6U MM%%_CHS71*HE/WFBY90<3%)=>1"`T*M)V;A9:F*O/$O9659E0U^Y(\YU3?B? M+:U8MW9]]Q9X*T^%U`$O2[TA[U#6M!$E:QQ.CVMWXZ]V/M(0@_A9TDZ,YHX6 MOV?L72^^']8NT!IH17.I*8@:+G1'JTHSJX;O?:`-6'.*F&^3GX6DM6W%->IR4<_EHT9N_Y/ M<$NS)\!K`AP2_'\GH&L"NB<$IM->F>GK"Y$D2SGK'-YO1DOTGOLKI)S+==`8 M9?ZISH2*7C(4@]2[:*(K9MMCX`CC#PA/L0\EH*W$%L[2X6.!W1P1(WL%9&T" MF7STT,2"Q,!*$!B"8"P@F)C00R(#:?H:01C&T02WF^,@#H($)W8]V*H'S_2@ M&-H)0BM!^+PCD94@^MR1'H+'CH`(X2B:.#+'09@`B!>V.+;JB2V.+!`D5H+D M>4?TN;<=%?"Y)U?,0[,HPF#JB0V'@PB$"XH6#J]O<258H+`>SHT/_\,7^^GS MT1.^H-FQ\#&.$C#U98X#$S'>Z&JK*3^9*U\X.3LW4E\BH^CPK&R@OAHG\:U^ M;LR5>:?)TI:W>PO4$L#!!0````(`'%E#D=5LP5TN@(``(L*```9````>&PO M=V]R:W-H965TVF?9EFTF@%Q)CM._KR0PP;`TCA^,$&?/GEWM2LHO0KZJ(^?:>Z^K1BW] MH]:G11"H[9'73#V($V_,E[V0-=/F51X"=9*<[9Q1704X#..@9F7C%[F;>Y9% M+LZZ*AO^+#UUKFLF_ZYX)2Y+'_G7B9?R<-1V(BCRH+?;E35O5"D:3_+]TG]$ MBR<<6HA#_"KY10W&GA6_$>+5OOS8+?W0:N`5WVI+PYTT>C-O2]'=^SU9 M:5%?37RO9N_MLVS<\])^25!G!AO@S@#W!KT?V"#J#*(/`_)?`](9D)%!T(;B M$O'$-"MR*2Z>;%?OQ&R1H`4QJ=[:29=9]\VD0IG9MR)*:1Z\6:(.LVHQ>(!! M/2(P[+T+#+E8X8DYOG6PGB+2Z!;R!)!06$0$QADY^^@FSA@F("`!<01D2!". MXEBUF,1AFC91*+2_43!37`A+H:`4.I62)B,I=.(BBD@<9N.\MC@ZP)$,TRS% ML*`8%!0#@E*8(`$)DOM7)P4)4D!!-DK)%(/I3)@9Z"2;.LEF%L[N-5"WA?<' MBF8:%MVQ^AUHN/P9&4;;+GX'HY\7(@);^Q%A("5H+`9/VX*F9+P)`#`%_BKL]U^!NQN$=9T('NJG^ M&/(5#([LFLN#N_LH;RO.C;8GWV"VOU\]8GODC^97:+%N;TD?-$5^8@?^D\E# MV2AO([2Y4+AC?R^$YD9G^&#J\6ANAOU+Q??:#A,SENU=J7W1XG2]^O7WS^(? M4$L#!!0````(`'%E#D>G_\'K\`(``/8+```9````>&PO=V]R:W-H965T-VB8B"&51R^HNK$J[]]Q7I3BKIN[X.<;WC3&DX[\=W3Z&=,8SM=7[]]MNIK^ M*Y-$YH_]4X=-5L4!CN^9^=&O8C+#S[F8!EN12/M_V![EDJT5Y,P:-G'\*P[ M^[P,7W(ZFL$&9#0@D\$4!S:(1X/XTR"QF0[,;%[?F&)5V8M+T`^'<6+FS/%C MK"NW-9NV4/:;SDSJW?)Y$D<$.$M!!8ATD-U4HG"H,F-QB.HO)$HIB)Y4E*L992A.8 M30JR20$VU&&SQ"0(.5P@C.?D,I!(!CAPSFX]8.@L8?2`J*?Z.1@F!$XSK\` M'13WGS\%'5"`0>(D.F#26:+Z8`OJ7@"ZN``XI069'%1 M-KZ_*AA4[A,F=]1E!,T+$Y,B=9K(!H"1),^HAQ`L=!P#A'PYP5+'R1?*`NL3 M0\):-,UT>5]P3#.W]T$XA''F$2J&E8HAJ18>%[`*L=O01]`\DN]\-8.KPH<;I.V=.H7_T'4$L# M!!0````(`'%E#D?"(5[F&`(``/0%```9````>&PO=V]R:W-H965T&,/B[YY0/NS")+P% M/MISHTP@*HMHXM4M(YUL>1<(6"\'SG_-(L?]2Z, MC05"2:6,`M;#E1P(I49()_XS:MY3&N)\?E-_L]5J]TWD^L4*EX7@0R#<7?387'FRA?KD*A.T!V7W=&521Z]EFJ1% M=#5"(V;O,&"&229$I-6G%,"78@]6=/"8X+!&;*`_`_06`2T?/A21^052KT!J M!=('@7QQ"@Z#+*9SI_",-@@N:EG#`,P2!/QV,J^=S&,'+>PX3#;+LT$ZT\+- M&I6EG"3C1[38R(L^TR,JCXI5/FOYU%IT;V`LQK7,3WNL&Y?G27*8L> MG\E/+,YM)X,C5_JMVQ=YXEP1[3)^T@?6Z!8\+2@Y*3-%>BY<5W(+Q?M;CYT: M??D/4$L#!!0````(`'%E#D<^(UT/H@$``+$#```9````>&PO=V]R:W-H965T ME=3VF'3.]0=*;=6!XO8&>]#^ MID&CN/.F::GM#?`Z@I2D+$U_4,6%3LHB^AY-6>#@I-#P:(@=E.+FXP02QV.2 M)5?'DV@[%QRT+.B"JX4";05J8J`Y)G?9X92'B!CP+&"TJS,)VL^(K\'X4Q^3 M-$@`"94+#-QO%[@'*0.13_PV;)J2& MA@_2/>'X&^82]H&P0FGC2JK!.E172$(4?Y]VH>,^3C>[VQFV#6`S@"V`VS0* MGQ)%F0_<\;(P.!(SM;;GX06S`_.-J((SUAWOO%#KO9JK`M'%T+*EPT'%05]YE.N]8?).O\++H>0M_N6F%MN2,SK]L['^#Z,!+26_V M">G\_UD,"8T+QY_^;*:1F@R'_?6#++^T_`102P,$%`````@`<64.1XB)-Y[( M`0``0P0``!D```!X;"]W;W)K&UL;53+;J,P%/T5 MBP^HP4#31@2I236:68Q4==&N';@\5#\8VX3.W]A`EI[$&29A^(@Y;460 M9][VIO),]H:U`MX4TCWG5/W?`Y/#+HB"L^&]K1OC##C/\,PK6PY"MU(@!=4N M>(FVA\0A/."CA4$O]LC%?I3RRQW^E+L@="$`@$X!6J7$QR`,2=D'?^;-"\N M'7&Y/ZO_\MG:Z(]4PT&RS[8TC0TV#%`)%>V9>9?#;YA22)U@(9GV7U3TVDA^ MI@2(T^]Q;85?A_$FC2;:.H%,!#(39C_KA'@BQ!>"+QT>(_-YO5)#\TS)`:FQ M%QUU+8^VL:UW)' M)]<.#O>(IWC=0[R:1.SY\542R;I`LBJ0>('D2B"]J<*(V7B,$AGDC[=9'(/ M>MR0\"84O&@.!U7[1ZM1(7MA7!D6UGDN7HAK[HU];^=E?-X7F3SK:`U_J:I; MH=%1&OMT?(,K*0W8&,.'-$"-G>CYP*`R;KNQ>S4^\O%@9'<>V?F_D?\`4$L# M!!0````(`'%E#D=;QU.?G#@``&W\```4````>&POENX]B9Z._,4QSTK;YM`[1:NZRJ)(`LRU5*RY8CR5W3:,P/2J(LIBA2 M(2F['.3'/,4`%[CW.>9_'F6>Y'[+.8>'FR3;/9/-0-(E2^19OWW]=13%8N>[ M?]PY_6#GQ[_YIEEO?R.^;CP_^LTWZSC>OO_^^VBQ=C9V5`FVC@^_K()P8\?P M9WC_?;0-'7L9K1TGWGC?UZO5]O<;V_6_^>VO(_>WOXY_>QDL=AO'CT7/7XJ! M'[OQDQCZ/((;^.),1&L[=*)??Q__]M??XSO\7D-8B?AZYOB.&L;.)_JWTA=G3ULG^6*N>_3XW M/3R]I#>N//L^^^O*]J+<,'J.6R=T`SRGI;BTX]QS:MO_\JM?[=W;E1LM;$_\ MY-BAN((O;?5+.6_CL[VO9;^0U3IQ[-XI#&X:YL3>YQ4Z'-Q_A?^*ZU_\T MO!F(_E@,;_HE8_5A,2$L9`BW_57\X#QEG^OOPC"[M;)C.CNK-LX:9AO<2?IT^;>>#EAKF^O"[; M:K#9`,Q-XV#QQ1)3@GXQWL51;/LX8F[GXYO+P#,=CX:7O1G\<=$; M]6[Z`S']-!C,IH!'=]-+@>[%` M,A&)T%DX[H,]]QQ+^$XL@I6`DPL>;7\!^X&_WC7;5KM[+F!7XEVMT[1JN`K8 M[-99Q.Z#X^6.=.@_P&*"T'4B&C/[^VWH;&UW*9RO0(/. MW2*^%0XWIAWX@7_VLEWH\U>O$^0&_I&[.^)-WG`)D,A71ZX]=STW=O.T7,/, MUGY"@"GX/=PYR;UF?Y\X#X'W@/OUD$[C>F$;;NX@^^E=T(/VUL6U>XZ=)[O] M710'&SC[)2![Y.;W-IY[[CVQB$C$`9P2/Q\)8!T`R?$N]!D($\C/#O'9#I%" M/HEM&#RX$0ZU'YSVG.,H\._/8B?`W$X$_.\@-@ MA_K6C2+;CB`SAF ME[FCHG4>=3XW?7%A^U_$S]?.9NZ$>3EDYXA5&&Q$;[6"P6&]EH*9'%P'T28@ M/@."W4+";]_V[:5MB5&\/#Q'Z/"!P/7DEXI/`3;L?68:VR'@SCH6P'^^.,1( M+QT@^H&D@^8RQ)_%=#E:YS8&SA@'MFW[YW\<-DW;H(8+N*6 M:8\%G)W7?5NT[L.C/VNQR3%,"!(N]Z\T>7S@`9,,`[B^2`D@Q[[:A]O>(55+ MC['W;2F3]#U@"Z)WZ#'"8$;;O0-=E`]TE$SS,UP1G/\:P`=DOG\KEW%ZBOP2 M85X&NWF\VGG"5GSG!-!_&7B>'4:Y=W.$29,D\S4!S)PIT.$!8M!W[ M]![J9][3\S>4?OO@;@H?+]Y*X:/[]E$,)M,9_',]N`$0&5^)\>U@TIL-X8%R M`#'UQ6:./@`7G-I>GJ\!'27^^#$(EI&8`@'//O$Q#`#.0=9;Y;G&&$[8)L(W M*)%KIH[GX>]E72`7U\X=KE?/SPLD:X)V(# M\MD"F85EUK(1ACY(*0XK_6(X7LC^"6B)
PW1&NOP"AC(3:.1Q8 MP4T,#SZ!,^*8A?,@IBBE#4$V^]"%';D+)N^NMT.>D.#9'C3[[""YAJ=[#W#* M]XZ:`P>2'U%4`,Q%V8SUQ/?'SC\><]Z(2*H5@!S95P M$FB8LE&U(\DGM]3>\@\@/R-#C5A\6`0``YY#4JB'!PW?XN<%CKZ+8"^PE>.& MWJ#D^B=;2?W+(_6]_MKV[Q&"X'^L>CZA@NJ$#WG&IA^U4\QF;J/8.,^/3?H] M_(S[`/!#."[$RF1@W/LRIZ.5+#K*'`X]2H#@)=)G_J#RVOL>);P`CT)4.,3) MTN%/I["*W"2(3,N\C%@PX,TQMWT(^/#JHD,0'"6"19S;%_(%.EZ)\7@F/\^__[:&LOG-]\LY44 M\)O?BIOQ;"!JXB__(0KW),8_#B8_#@>?Q0RN?@ISX#37]F*-9AJMM@#9J%C" M!DW)LQ^!,0$Y#+?124=_/(7;HV$C$!0XF3/MIMZ/C&JU6T1KGATL'A[-TI M*'P;0+6E+4Y@.OH.53P>`5=T:M$@HP#MW:!-\9;H:?C^;*27@W]=[X`C\Q/J M@6M^`.;Y.? M$(1Z_?[X[F:&OH%;$$+ZP\&TA$_AE=\"7BSP'LN!?>K>^^X*MH76V*(W7P;X M];/]BZ9S@RTO441=TN89AQ/!`PXZ2M`5)%5OMW3HPK5N*@FGA']E3<2O$;A+ MP;HB0.EE0GBV4.^J,7$0=,Q$R`C0^+.V06>8.XXO'`^`G2T7$O2>L0,&%9R& M)L1#WOD(A:5;1OC`21A)-^S2<]"E)T`G<[0/CY:,RIFQU"V:^T->*,X9+DGJ M>G3CM;AGU.`C@/0,:<`93.R]T8:W4--R`=&RPV M1*$@E#N`B[B")P2Z^NB)'H@R"QBN5L7?)LX]&@_Q]>G9OZK;G`[Z%0)%0C$/ MB"!\^P0Z@?"#6,.!O&=\(;N,I<$DY7(((XLW67`:\G+O?+H;XAE\&WAWGA,[ MQ]SVD`<)MJ!ZLF2],:QBT6ZQ?A'\X[YM0QLXP5==EJU@#A]/@BC4+@Q9G%F$ M.]N+3D%$1A('5%D#ULIV0[$UF:4\T8,+(Y._>>TE;\#8.X\!(=#Z<&4?\A>^ MH5?,(E*D%HV0"R07X4+M#OF#ZR_)=/O@J`VI40&,YVP`6-"&U$'LX%2?'/3V M[5G:W/8(B*1_AV">M]P(E0ZB'2)1'^Z`O7T*B9_/^) M1,_WX4ZEGQ5%7X5E/_`&%*H^!\"`L>^0<^%AV30KO/.'G4]4D`E'O`:!-:1) M*X5BR\;^`IB"DOZ&<(8(<@1L;&B_!P+0#]Y(0UOR"0I!\_)U<@O;L+G>$ M^G"2CP8`X.9,"AK4>@UOB(3G,4JU"7`OOP0O)@,3K<*EK@%9;X)H]K%]!Z8P.#\&`.(!9\@D1$%$7KCT>C M07\VO!B.AC-3Z)F*R:`_&/[8NQ@-BG`&5F8?L,"#,L*F$-A3PD.^,Q%-01/I M7X]PY6O&)BD):>>KI?V5:$$*-NXB.0V&AK6^!)/"D3!M:?PMYFFX3A"1'"1X M3&A1^/`EP`++6Z&'$")VT MH\63.H2L$H+KPN\_!7#J/^!_V+S()*P0Y^1(*54(&0W)A6R5@77?5:85[1+` MQ2LL.T.E/E07XWR5@(2W6TP96%>QI2VS^,V$_4G%@5'?4G$,)@FH"-3-[P%) MY51!%!$.(A?$=;*!!?`6I/]DFI38J^5@3_+@1T>R6HUJ!J'),680X>">W0VN MT)31,<`MIH61#08@)"UFS=&/JT&?J3(9JG&9$J1QO"MG2?;]2PX_`'$+!#Y" MHKZI(8,6>74Y[),2Z>(C:0*ZV^)%OA/U%GO/&_6NU6G41+UA=;I-8=CS!"O? M&Y`<$143913O23L+M7II1*T`DH7!=AWXBB&:JB9]@5IC3%`E.030`R`TQ%/0 MBQ)*K=82)%)HLLPP1P*,&T8HDECR4["#:W+B-5+\(D8-Q[!;D!U4,4PXK+7- M^(@4`^VI(`=X[I](_&<7&,E[\+.S.9L_G>&_2)A:25P4+!T(ML1,(D>DN7P7JK,[&-2<@++>+08 MFEB2QV7);N!%6!DJOYDUX"$O,%Q&K8.G-FA12)I+Z*&@\>`ZCU&&V;"]DQXU M#.2N%$%(^-=3P`.TH(K0'I.%]/6M"?0C@CMR4(`6LW0?7`J>TZ9_^!)G?U0^ M$45'"'Z2@5+>PCSN5K07Q"?IEMP^V@.#JS"$[D@)+S!5)%D!>[8#*>H]$@LE M)FW#FF%DU`\"(P2+]J%6E]@)T*\2K5P9%+0`9N8L M3$TP81F)UP-A`3T8P'WGJ#9'1%:9YS`JIFDE#'5/OE[^404\\AJ);6E$E;*5 M%/DM4N43L\P#R)\;_'6.K((IF^(KJ\`CUT',]C@9+J:YA>;RAHUKBKA@A\"U M+@+XAYE%;WI!S*+PN7ZPI'/6O*4W9=;2J9V?U:N6,L8J?Q5:?]F7E?JV]\BC M8:"'RX*0I2LM-!D:>P"4@7&.@4[)+B>)O05_ M56XA_O4T?:>[2.H+%YZ]^'(V7:P#!"#>`:V5SW,3+!T/#X*7G]IG10R*]I]R M*ZK-OL#B)K7T*,-PC,.D8^$SH3MQ0(ZVV>?*(KTMT#2+M/N,0C29I>KS(P@` M"2=WDFJQ2"71/)X$;I*A`6&L@H:!Y^V(I;744:G308,&B$I`6FL@*%F-[KG` M*`^"NAV[C%F_!MF"3$\PY'8'-`A(&_ZYA"T!M9&6JI3A%ND%L74BZ@88)<(- MT4G:F3%.3`:'+8"'DP:=M8W;1$\70C#)"G+4A_0(]CT<#`,P:;DHR\D!R]%!%@"TI;(*D$GGZ'L%^#(ZN?6W6IC6HX7@9D0$8N0E3\O-XBII#P MGV'B4R(G'5L7-)E?IAV\*2/C'*5Z;;?5U$6:8U)V^<1OA2C)<[!\OD7A(#'J M*Y+%<"SE4#RK[0ZTJ$B9%EQS95;!(NS"Z97J+2T`,`,OA:WV^JF%LCPJ393= M%MI68>BE\%3\B(++H\OQ7S(ZPI*Y#+`-GU^&C2\CJC#F@H/!L+8/=VD6I'78F=M]*261'!L4;ADXMUUALUGD2(XBJL!8(@8(MH M7@F?4B=BATYJY#F?]`,Q8%1YG1@T&>`+?+'ZVDB`8:L[(/+0[(JT!4T?K$L0+IQ M(G#9!2LG"B6D+9V-#R3Z&7)KPIY3:T_CD^W;WM.?<']Q=!R42[,+>R4<&TF_ M]`?),R!;;H%)F7Q+EH+-D%(I]-+1TDSY("R(I&(6CUQ^ M:O.TH/R,">9R0B,OC.T:*2=<&P\VD!*;H^*QMVL8/R"VW:,<*=I&'H7">(AC$D!!]C<DO4D1N1S"5XH8/?`!%P2^Q#E8;K-,ZALT>?/HN-2?PS"]%VZ4$'/BH(AXF( M&E:_2`1CCFZ'"$?ETW*^VMJA)@U]\!+Q$^A(A#%^D!H.VN"*M!6R,)%6VU5O^6MN^N`V?7<85,2 M4T-6?M"^1+0&UH`.1EI@`4):[&U4?H@R'%!>:M10I"!)DKDB1DK<,4F,EE,D MD"A0RAJ9#(Q4892LY0(/\0C(E-P5X_J,\TN=*_*F^/A9);A[K-7"SDVH9E.E ME&:45*@7AX)\\=I29Z?%M/*#UZL!F(YV\S^0GUSZP)0OQL!!`VR-0";X@64* M5KQ2U+6.JEFPNU]GB&[V!MC<3K&^'L562'2G,X2'W)!N&';)#.K& M.[DR*4>005XA)1N[28U8*EM?HN5G)3LD%9K)D\"#@A1)$?@\J/C2A)E8-Q=) MH+,2,94ZIN7P9%\H67GH^"*4*EB#5;PP%G;1S4,WGC'OX?:2PR(W0DY^RL:- M:?F]T:Z>U:IG58",K!B/2QDF`\,WEVX$N&E3M!8EX8[HUC@A&B3]XF3OC%,, MK1`6'X.=RCE-,G9X6T8R0X4S8)9N3-2--2QDX]/V,N8-9?!*&33, M["!6I&7T.".O/O>LF]MC[=K1WBJU:+QR><=\\QB%H6657>1@$(!'P2DLRZ.K MPD.+AK36I\V&K!,!!D_7[G:K[&_HT_-T#@=O-&5V+K;%I/5*%OR!Y'A\/H8' M0FI41(%H-`(Y'?XA#S(QVI29:IAT5"A8XF:6BAB=C&_@"") MM88IW%6>4LY?R&*5N/176(=DM"6K: M+1BY2VEZPS<3HX]<##>F0O!B*K420"TF'!2G< M0>5@38[2U$'90H7W;G;(JEG=1<6!C!1X^E'L;&E'RJ_.`DKN9-^+O_RG&"YQ MK:LGM4VZLI/H5`9()3;@[+-`X7G*94A*1.$,,M19U?*1$\+U M`'ZQI4"K=*M$$L_&JD5&&HV]0J'RTEE0)HI`F01PM&,8X-(J+J.1ZPLC9#$9 MF:_+(?^]C'%.]'$4=O6\]&!^8<7+:2-1/N4IM*G="MC`&`'O=T](LNA/<">DVPD7-N=DBG9"D'6:E@O5^[A ML%6IP<988`'WOG.8:7P,N%@0CN#3*=H`$N&3(7X6+*)U5@49<0IRC`=XAB-( M(Z+.\DEG`H'Z-)`1_"KT@:;<$N<;?`5DT)&I5,^*CP-0RCNXD$9Z(?C@;2:P MFHH=#.%%&:44Q>GX-B1?6M(GCS^Q!T!#:=EV4&23J6!J4&,%K#]RQ`7IL#)* M*S&O,=(G:L]Q4>R_VWD'+Z)6R^__FO7*C90L5"S5$U.'>[3&D^G+-X:E^,YCLIPD#)HH`X5Z!4G9I81TN#".23RV2+1C M&1TC.70J#Y`TBJSY(1>@F\N9NQN(J\GX6E"1D][-#T5)=5JN9A8O,+DWX:&.^06S#"$$":[Z0BR=,*>*B3#S,IA/RXVIK%NI,,4^%X M*+UM!/#07CI%OAA2TS"`T`C_FP=A2.1>8D;Y&CA^B/S/`?][,G4<@;511!OW M/,(:;9B/.1E<#F>GY?%-67MBLOA'9YE2L]^)JJ@U.E8S7WAL>/,CB,+CR7`P MM<3-8%:6A9R^TE*@*'[\91#0/!/9U26GD,F/H/^;5B=5I4_M[M6K=U)2`H2D1E*07!K;2R$U#@79\;/$UZE.&F<-ZQF MLPIS->M4,^E49`NGP0SG5JU6M1K-Q_[_4WU8(#*MZ!N)L.KNY&1? MGX,50YD7L4+Q(M'K6Y(VOQ/U\Y;5IAM5GZYVH4_:.KVZM_KP-/*C1Q$)!^VSA3"\%`EJY5[U;Q4ZMC MU1H-^-2M->"O<_ATWJE9L%O1*[,[U`%":E:WC:\UJTVKW<`]->&U1K>%G]IM MJ]6II0T(+XHX,K]IRG`<(!$-7'$7_LE5;22ZA'4IB"[E?I4%X7+YWN7\`T68 MU\->0C/UVO"?Z>RZ-_F!><;8%^-%'!"S[K)],&V&=+XZ"W+-VB)^#,[(!:0K M-$P2PC]REO?DA"S;+>K]Z=)X9`(@OM-'(RK&7C.1QD?U5_04O#,+`T#2:]!P M0?M1KE*\&Y4*X^ATX$`*4U+\:,KD)`I?X@S%0TQ(\XL;6V8_]*(HD$"%TIJR M^TI#?6I?.CE2*1YL\J+:"44\TUX^L-$4=Z-,RZ1NA-(U6/^6(H11EMDD$6L8 M&\]9#"@*R0@PWB#^_!E#&:=QB$ETOPL`Y57$3XRV;6*OCS+`.)$$:;3$#-JJ MU%O&W!5QF80S&ZBD]+V](7PIX[:*9',S57BH*">R9$!EH"M62Y;;JUEM8"GU M9D>7@ MH6H!E)9Q2*`ZD::*H(B@'!ZAYY7ZS!!*5Z+"&+*PI>+H,IC#(G9Y<0EV&_&= MT18IW@9.W:4+#=*'U$'<4:4.._H6_O*?XHXR.HA M1FISH2"LZN?:)<"/MN`$X-I5L;2?(LY*PZ"9$_+C!4JH[,K?5565`+G>DKSC M"_(-TW@2+>>JP`0ZR#"[@ZQ6:F0V`$KWC,Y0T&O$Z@-4LLB3S#M&^/1BN<7 MZ74VS.=P+3@C/G?Z06R]790<)=$/V#^;!#%:G5:K#I=MV?I@C402#E_O\$U0 ML#>:ZN`.C1`LZ8E(1S(6#'8BU:3D&W2FVVYD>TEN-RP=""VOO4=6G#.B(N\4 M>,R109D/)7GM.C74".62"0>P2ODK2ABVQ^><`)BIOZ2"+HFHD_];)E_K662. MA3ET^GKL!]OUE*.?PR%)-\?;TL=3`*Z'L"P5\&(8/W?S,[2(Q!&9-T<.Z*]A M9'!)F<;'VCX]R1Z`=PV%A60\3"3MU`;,%YJI%Z[1^$XO;.VGLR7&A>)#21G3 M$S@0>1]>LBJF-:?2:OB$T$P16PO.#R'(5K%95\X$!M2C2L/D!FG43UT4F0H MICS_IT1534X,`"&,"9K-?-(']".Q/=L&U*-BJ/;.B^E4K]ROSE)E+;&'D)/\ M7$`RA_&H5JF]KW&Z7!+!1;'A8<`.F15P2C4[$Q#+C.<87`QGESTF6%@-F5>' M\\I22([A"Y-J-&42P9>9TB1D(J9R0902@D^24YJ_XYIU#A6JG5NM6A>DC1Y[\632K%I9 M*8A;%,V32A9(FV)(QSGCU":\.,:#TNJN%>E.D/X@$I1JH'9)`:ECU<\;HII3 M/L8W'\]F@\FUZ/=NAS.0C4:#WG1P4.,HU4V2`L]<5?9EJDF'5)/BM:'$QF0$ ME$.41AJ6*6FD\PWLDG)DQ"%""L=/I*7/#N8\7@&%"`PEGSV;[)DTGF#!+)`$ MR)&,6M9G`UV(BZX!B?P")W4\FO- MNJAW.KG*;G?3V?AZ,!&7@]OQ=#C+U8+25=IEFO2^2E#Y9U^OZ9\C.N56*6XX MXU^J#C%YM_#:9$)ZXFG&I,@M&EQ`SEO$Z/_`P'2NFPG\D%/]HR35'YV+4DQ5 M0C![1(G(4EJ.2K/4S#UT,!0$(:?P3120[3B7IGFLC5<%K;&:0PA#J%<_[Z"5 M,4\8QQ>CX4=9DWA$A?%FU#\1V#2]G\("N\63*H$X7VG2^3 MJU?I7+'`B%"2$&ZH6R:GE;FR9K8'3G0?VINRR@<[GX0P":&1BM+*:0-8WTQB MEZQ:1,_J9:*<4JCU!2/"-#1"J"?V\*5ZK*$E96\5S. MN/_CCD0BRC%D*BUS`5+[S&^!J<7S=R"O,I7!\\RUDP,?W8OZPKB088#W2:Y% M194H/4+MB6;([$KE$O)I<*FR*/,>MIC2($?TS9R;A!59&4$#5&IQ9,%3[U-A M+2=6,;2%4'8=OL`A<*128.'6C71-HQV_6NOG*S=?7PQE'CR'AZ(\I ML&QP4U0\$8M'NW%2>:FOBCHMTK1N'Q\]>H@7UA2M`IG2SP6W'M!>DV2[[.'"->A_YF1-]PJJ8V`9&S"A(W+F[N/&&Q MICH\U&QV*`O\'/"[56WDW*+33[W)X--X=`F@]QUY%6<_%=;WSC1U87?ZGD*E MQCNI5WX!C*H!1A6MF]!L?"-`!NG_((;3Z9T2.(J\#<4*'BMCH15*4J0SGT(4L+$DCJ&(9%L;U8MM75:[LY8,;!6&N_"MQ M`UEC(2GMAP9IM(BQW=QUEIE"-;A*5>#N-8@SS,DOY<+D.JJA',^QT[BRN#*\'<[\")TH7 M4$U(%A#]3KN:FD5UBM(A@[0WMMV;]0MI[Y0=:U[H%^?)*$IB1^EJ&R3:ZFIB MI`F1LW6Z*&+@*!B[<-YITBBM9M/JMKH< MO>>@FK)=HV,J=.RD"!=2`%F@)JF0)IW1@8R4(R(@/<6D5G%N(J8Z8*9%400< M:(+?V6:C M,4U8Y2M8W8ABP?8NB@]^=/B$*Y4;B,YQ0J;J3DO3U$/XW=++<`/'L6: MXG70\MWL/L/.8@BF29A?24&$E#64>VZ*)@@W;:O:;>`G-/\U.H8ENPKXT-"_ M=^LMJWM>%VWT2)^C>0ZCAT07!*=6/6_5,2_[)S&;]&ZFO3ZQ\Y?!X4"[Q]#X M,0O$..3(SI<":!,!M'R5SQ9Y\I9/=3E4(/^=:,,9@O@(HJG5`A&CUJS`8;Q!K3,U#L6IET;-?3--A;B(T3CN?]N;[0=N'&..I9'KE)^/S%LZUH(X@Z[`$^E"5I%)K>ZFO2//M1@;_K9=Q#C?0;%CU\UR\\^?>!"@1$*3;R?C'X;2(:-Y*04)V MC$T;6O9Q_0G2"V>K MZ",DDFQC4'9SU@NT+^5$!5VT"52ZDCF=4T4%Z@MJW-$/K6XR]7.6]-;!LSW5V^`-OC@Q`63L^I54B.;]F)C9(T_$T M02=B/M")N2JT)V6VS]1?*>C_A$:C;@>$Z08*TXV65>O49?D\%5J)T(#V6"MZQ8`31PIB:.N@;!0LR;:[KP`^08IW4@!=5&\U3_M1H54^?N2]94R;9 M40L5C29]`D6AWLQ9@P;7MZ/Q3X.!N!C<#*Z&,W$[ZN71-U4=$U<`>Y)-1(ZV MN:8'T$4?+V2-"E0K7]S-!L3W,U&\E9Q!U!;-:NWDRRE6)925'>".$VTXE0^; MF`F_4-EYWPC!P;&R+`= ML_"B$7>#/VWLK^0/9R!`>P)E8>5+/*@*<2K;DP7IXC*.G!QMKH9F,F.V_DT^,/5RC4BH79 MZ*=O.HFFJ<3WH4Q\-\%(VVJT^0Q%7SB0,[YKP@M=383I.*`+7,7S.D>)$]7F MJ:"/K=%4S>)V4$_B9_GOL[%H5NXS>^OV]-;MZ:W;TUNWI[=N3W_#W9ZR[.&. MHPV5]!B]GD/<32D;;#"=#:][,^EH?NLO]=9?ZJV_E)^7ZV:.8F\=Q?X'.XKEK+$V&<0C+/?%)<=^"2GA^O9.];0'`;XWN1G>?)R* MV\&$8^K>VIK]LFW-\@$#7*]ODA0K?/VM3@9`L>X&*.B-/]X,Z7;?VJG]0[=3 MR]F.C6YCIG_%4H&@.,90AUFR@^6U<,>1KA>]Z>"2*,O@9IH(HF^]WMYZO;WU M>OLK]7K+)0T:)2_ZK!:]%OE[ES\.)K/A%'U4;YWE_C$ZR^6E%:/1G!EL.F#( M^R5$ERD(H?U/E!=U"7+,:,QU[?KC*9JNWCK=O:S37 M]883\6-O=$?>@:OA3>^F/Z0P^.EL^O`]T_8@2]ONU+=]'X) MXQ4(X@,QZ_UK)OWSK=/?6Z>_MTY_;YW^WCK]O77Z>^OT]];I[ZW3WUNGOU=U M^LM)L<76*5YD-$KW_H._H/U'7Q6OX770U=)JX6WYH>_ M;//#O`_+Z(7XR9:]$/MTH*]V57T:WMZBJ1JO]!/\9T1V:S(R_CWW8,Q;;-$F M;#K)`&K]`!D+O_H*2^U;L\>W9H]OS1[?FCV^-7M\:_;XUNSQK=GC/WFSQUSO MO),9%7+.I>=.%VN0\5@Z,.*4D_K+)&`_W]53&ITL]YBP4BVQ1N__R3K\E5[* M@59_+[R3'O;8V""9PLH+Q?JB2R$)TA_W_JV!WW]/`[\C6U@Y:-A^@ M:JZ)+("D4/5(D85>7PP^1_H[3,,?^CE,$3(I*)GN38`6A2>IRB?0]]8R0K>, M>%8IZI?`#=8TAO-,`4ZN1O!+04?.5;);!HH2@L3UBF4>,8.P&Z?:C+L&)UA`,('\YC!:H?D_?D""4=%F9$3QZP]D\T9K(@IS3U_,LN*AB!-27])XM// ME@(P(>6O4PSUB%IE1\%!K@[92'N!7WJK?9G;7%!1P"3N2=Q3IO:3;D7!/0O4 MN?2`:W`91;FP[Q!#F4;BL_>!+1;,:P]_0=*>9J[.C$]8W@Z-Q1UHMW M<7`B66KK^(FZ11.9@\LHZN=&7>?;KLE@BYG]53.='W4XD]["4>]]Q)`9BT6_ M'+U4V7T]F=UWLR.E727M33DW;FRD^/6T@[\\ZE'M2YS(^F]YXLM9#R&QM51) M_)(C2:J"&M-,T"R+UE1_054X.3(TUGYR9)8[4E`S+UGJTK/3-%I%5RS?/L%4 MRE,N]"N-:G@BXR0R_8*J9:1B+*TB:Y<%7-(GF[#L+ZFDXUREEQ37I][3/U^3 M825?A`_PTA*8@,WYV7BKY#;(,S['YQX>B+H++,11-F:C$.*QD#;5T-8=EI]! M][!@\E6JF?8^LI8WRSC M`X4:@<6!<4$EK3$W):E/2%W32F; MQI6R:93->>!Q\6?-7EXQ@N0;92-TBG>2&%P.'UW>X/+\)X_8:Z-XI?O'/+#[ M`T!_!(48#6\HW:0_&5P.G_=FNK>L[BJ\#V%*WK&0B*-:9[3C*R/2:=D+1D!K M)YS:E>/D9:XB@DIK&.LU4`NKB`+6)#?,#2-[[IG5ZMW\4YEQ]7F`]L==!2*0 M1G0R>*[*T?J5/:VI_/O_JK6K'_C3>;=:^_"R-M?)4,_L=OU7;'5]-*3MN8.[ MB"BHM@"6WT>TMF48O&QF3LFEW!\Z?44G^*>\D7J]^N&"VB?C+^@3U3_4/IR^ M-XZ=V]*?)PW8I7=+/5_K?(B2)NFZUCF>2-_V[:5K%[:Q$S8&/B61;NTJ'R[5 M!\/DG)-TB_:N_)TL-JKX]))$N@7%AM-XT@$G\WM7W%HTY!AA/3)'?\CP3%TY M1*^1.Q8]*:\Q5Z_!?+SB^3.MY!OF<[@6G!&?^R"VWB[*H@8=L8DE?-P4!(S- M"BE6!(LLR":I9E"7/G2C^`M77>CP;5&-`HSA\)[,-#`9%YC..BT8[$3ZSY)O M,-#>=B-L:ZIJ?IY^0$NEN3$,D0>0/*/\WG>J??8<32@%SR;53W4Y/R.Y3%;K M@#7+7U&TL3V^D00D^P4@F4J;]1.[`)?JU+/)0B7F%.D+31$;3B`E5R[>KSZT MHCZ-SV`XTD).:LT>HI!MQN[)$6732E665=D/.+J0Z]07(>#R@9<67Q`E-H\W-R-=6!>]73U^0:B?/0B-"$TC:59ET.=U M+VKES?%HR865"3ZE]RK'Z=M;^`J_2%I4HHA@V!^R0U8K#4#AHR?*C%NL_1T+ M?IP!PK$JSUC!`X:UQAQ%\SR!@L+&J.CO4](=.N%:@.]A3"3,+/7(TW&S6*#% MJ,:L[)T7OT?)W5FJVE(U_CPFE)/A_5B5!Z^0J;/LBI MF9U89G;/X&(XN^PQN&*7.]D4?JD]=8X1!FQQ"#B56H(O(X6H1EEV:B],M6OP M24I1X._X)8UX62?5M0,:Z\!XJR?/7ZR\*/#EMWT[%%5C:J1(>37.ZP\S9' M6?Z$(1N:X9:WXGE.A$]./CXFO"=G+"R,H;(HJH"_G-N++ZDBRB7.J.=$".7- MWD<%"3WW$H^P.?:V804#CI!]-7+C8PUF9,+I>+*]!LDCH\\Q,*N5R!@!X9)FY6J`L6D(RQTU_1H72I$R0.;8VTEI0MF7FD628/]N.AM?#R;B=II"4*U>!0]R"'/,Q0=W-N5G8?I1NV\8"!=8V4V4[M0(6 M.IBLB#A8^"9:M>PX5_;SX!9UL'3VR?'%:/BQQTU/9V.A#G:*==+%9#"[F]QP M\%YO-!I_YG[PSSAK$]YF@>A[+A$:#).8R.`4Y!"])#AE[UVH;4T6"0+MN%C;BZW MBDFJ;AT0OYQ,B/6//XU'EP`_WY$O:O93?LJ]9\W%@7,#K\F7YP&)C+Z3Y43W MGG!9,5?1"ZF`'[<4>Q+F+;%@?-+/<94XIL*5\X M32W*-'`_=,K-XDB90C=M*7?8TP#\EX!*2[:KF:B^0@2%J?8FQ/?W:HKIT2FX M#%7N>]=_1B`=MAO/GQ;V'\]_F\1-<"OC*5II' @11]RT$3VRCND#\/=$.' MB!LK`T26:]BI'=[JIN1769Q-H_S8W[.2R7*_^8(;/2,+W_DRRPU6&MG/66GJ MIE]UQ]-!7_6>AM,BM$RVDCG+\D"0,$#'F5P!QD+(]DAY";^PZS7*,+"0/9N7 M/;")&LK]E@//E(`'.R_\2RS`W@$``(`=```3``````````````"` M`0````!;0V]N=&5N=%]4>7!E&UL4$L!`A0#%`````@`<64.1TAU!>[% M````*P(```L``````````````(`!#P(``%]R96QS+RYR96QS4$L!`A0#%``` M``@`<64.1UTUU>K-`0``^AP``!H``````````````(`!_0(``'AL+U]R96QS M+W=O@#\!``!I`P``$0``````````````@`%K"```9&]C4')O<',O M8V]R92YX;6Q02P$"%`,4````"`!Q90Y'F5R<(Q`&``"<)P``$P`````````` M````@`'9"0``>&PO=&AE;64O=&AE;64Q+GAM;%!+`0(4`Q0````(`'%E#D>; M6Z3S1@(``.`)```-``````````````"``1H0``!X;"]S='EL97,N>&UL4$L! M`A0#%`````@`<64.1[]_:O5E!```E0\```\``````````````(`!BQ(``'AL M+W=O@82,_3P(``/,'```8```` M``````````"``1T7``!X;"]W;W)K&PO=V]R M:W-H965T&UL4$L!`A0#%`````@`<64.1W+A=1F``@``B@H` M`!@``````````````(`!GA\``'AL+W=O'==_O7P,``(\-```8``````````````"``50B``!X M;"]W;W)K&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64.1P!BY[R?`0``L0,``!@``````````````(`! MP2H``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@` M<64.1ZNWEA*A`0``L0,``!@``````````````(`!1#```'AL+W=OCH@$``+$#```9```` M``````````"``1LR``!X;"]W;W)K&UL4$L!`A0# M%`````@`<64.1U3DE6"@`0``L0,``!D``````````````(`!]#,``'AL+W=O M&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64.1\V= M-0"?`0``L0,``!D``````````````(`!?#D``'AL+W=O&PO=V]R:W-H965T7X`NZH@$``+$#```9``````````````"``2L]``!X;"]W;W)K&UL4$L!`A0#%`````@`<64.1TIMGABB`0``L0,``!D` M`````````````(`!!#\``'AL+W=O&PO M=V]R:W-H965T2Z$,)H@$` M`+$#```9``````````````"``;5"``!X;"]W;W)K&UL4$L!`A0#%`````@`<64.1V!=AK>C`0``L0,``!D``````````````(`! MCD0``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%``` M``@`<64.1T:(ZW&A`0``L0,``!D``````````````(`![$H``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64.1S?38L"@ M`0``L0,``!D``````````````(`!=E```'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64.1W]JPJX:`P``G0P``!D````` M`````````(`!_E4``'AL+W=O&PO=V]R M:W-H965T&UL M4$L!`A0#%`````@`<64.1W'6KS$=`P``,PX``!D``````````````(`!3UT` M`'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@` M<64.1QBX/Y?W`0``X`4``!D``````````````(`!^68``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64.1_:?"K:?`0`` MM`,``!D``````````````(`!CVT``'AL+W=O&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64.1\%.-2"I`0``)P0``!D````````` M`````(`!CG,``'AL+W=O&PO=V]R:W-H M965TYW``!X;"]W;W)K&UL4$L! M`A0#%`````@`<64.1Z?_P>OP`@``]@L``!D``````````````(`!WWH``'AL M+W=OYA@" M``#T!0``&0``````````````@`$&?@``>&PO=V]R:W-H965T&UL4$L!`A0#%`````@`<64. M1XB)-Y[(`0``0P0``!D``````````````(`!+H(``'AL+W=O&PO XML 14 R46.htm IDEA: XBRL DOCUMENT v3.2.0.727

WARRANTY PROVISIONS (Details Textual)
3 Months Ended

Jun. 30, 2015

Warranty Provisions [Line Items]

Standard Product Warranty Description Customers are either allowed to return defective goods within a specified period of time after shipment (between 6 and 9 months) or granted a defective allowance consisting of a fixed percentage (between 1% and 5%) off of invoice price in lieu of returning defective products.

X

- References
No definition available.
+ Details

Name: smdm_WarrantyProvisionsLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Describes the nature of the product warranty, including the approximate term of the product warranty, how the product warranty arose, and the events or circumstances that would require the warrantor to perform under the product warranty.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 4

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6851643&loc=d3e12069-110248

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

+ Details

Name: us-gaap_StandardProductWarrantyDescription

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 15 R33.htm IDEA: XBRL DOCUMENT v3.2.0.727

PROPERTY AND EQUIPMENT (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Property, Plant and Equipment [Line Items]

Depreciation $ 37,333 $ 29,331

X

- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_Depreciation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_PropertyPlantAndEquipmentLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 16 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 17 R25.htm IDEA: XBRL DOCUMENT v3.2.0.727

LONG-TERM CAPITAL LEASE (Tables)
3 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block]

As of June 30, 2015 and March 31, 2015, the Company had obligations under the capital lease repayable as follows:

June 30, 2015

March 31, 2015

Total minimum lease payments Within one year

$

10,820

$

12,984

After one year but within three years

-

1,078

10,820

14,062

Interest payments relating to future periods

(219)

(356)

Present Value of minimum lease payments

$

10,601

$

13,706

X

- References
No definition available.
+ Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 18 R42.htm IDEA: XBRL DOCUMENT v3.2.0.727

GEOGRAPHICAL INFORMATION (Details) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Geographical Information [Line Items]

Net Sales $ 3,466,874 $ 2,544,959

North America [Member]

Geographical Information [Line Items]

Net Sales 3,073,577 2,290,253

Europe [Member]

Geographical Information [Line Items]

Net Sales 237,507 254,706

South Africa [Member]

Geographical Information [Line Items]

Net Sales $ 155,790 $ 0

X

- References
No definition available.
+ Details

Name: smdm_GeographicalInformationLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1(a))

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_SalesRevenueGoodsNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_StatementGeographicalAxis=us-gaap_NorthAmericaMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementGeographicalAxis=us-gaap_EuropeMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementGeographicalAxis=smdm_SouthAfricaMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 19 R37.htm IDEA: XBRL DOCUMENT v3.2.0.727

CUSTOMER DEPOSITS (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Mar. 31, 2015

Customer Deposits [Line Items]

Credit Terms of Foreign Customers Direct Import 50% of invoice price prior to shipment with the remaining 50% of invoice price due at time of shipment

Customer Deposits, Current $ 287,110 $ 0

X

- Definition
Description of normal credit terms to foreign customers shipped direct import.
+ References
No definition available.
+ Details

Name: smdm_CreditTermsOfForeignCustomersDirectImport

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: smdm_CustomerDepositsLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The current portion of money or property received from customers which is either to be returned upon satisfactory contract completion or applied to customer receivables in accordance with the terms of the contract or the understandings.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CustomerDepositsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

XML 20 R47.htm IDEA: XBRL DOCUMENT v3.2.0.727

EMPLOYEE BENEFIT PLANS (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Defined Benefit Plan Disclosure [Line Items]

Defined Contribution Plan, Administrative Expenses $ 9,258 $ 6,720

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_DefinedBenefitPlanDisclosureLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of administrative expenses incurred by a defined contribution plan.
+ References
No definition available.
+ Details

Name: us-gaap_DefinedContributionPlanAdministrativeExpenses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 21 R9.htm IDEA: XBRL DOCUMENT v3.2.0.727

INVENTORIES, NET
3 Months Ended

Jun. 30, 2015

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 4- INVENTORIES, NET

Inventories are comprised of the following components:

June 30,

March 31,

2015

2015

(unaudited)

(audited)

Finished Goods

$

7,893,750

$

7,869,167

Inventory in Transit

600,038

-

Inventory Reserve

(383,440)

(421,000)

Inventories, net

$

8,110,348

$

7,448,167

X

- References
No definition available.
+ Details

Name: us-gaap_InventoryDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 6

-Subparagraph a, b, c

-Article 5

+ Details

Name: us-gaap_InventoryDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 22 R43.htm IDEA: XBRL DOCUMENT v3.2.0.727

DUE TO / FROM RELATED PARTIES, NET (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Mar. 31, 2015

Related Party Transaction [Line Items]

Due to Related Parties $ 1,100,000 $ 0

Due from Related Parties, Noncurrent $ 3,346,093 4,925,982

Shihua Development Company Limited [Member]

Related Party Transaction [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners 100.00%

Starlight Affiliates [Member]

Related Party Transaction [Line Items]

Due from Related Parties, Noncurrent $ 94,252 0

Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total $ 15,842 $ 2,357

Debt Instrument, Interest Rate, Stated Percentage 6.00%

koncepts International Limited [Member]

Related Party Transaction [Line Items]

Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners 49.00%

Ram Light Management, Ltd [Member]

Related Party Transaction [Line Items]

Due to Related Parties, Current $ 583,247 $ 583,247

Due to Related Parties $ 1,683,247

X

- Definition
Contractual interest rate for funds borrowed, under the debt agreement.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22(a)(1))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DebtInstrumentInterestRateStatedPercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition
Aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due after one year (or one business cycle).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.11)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

Name: us-gaap_DueFromRelatedPartiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DueToRelatedPartiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Carrying amount as of the balance sheet date of obligations due all related parties.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.15(3),(4))

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-03.17)

-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

+ Details

Name: us-gaap_DueToRelatedPartiesCurrentAndNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.
+ References
No definition available.
+ Details

Name: us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_RelatedPartyTransactionLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: dei_LegalEntityAxis=smdm_ShihuaDevelopmentCompanyLimitedMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightAffiliatesMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_KonceptsInternationalLimitedMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_RamLightManagementLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 23 R29.htm IDEA: XBRL DOCUMENT v3.2.0.727

SUMMARY OF ACCOUNTING POLICIES (Details Textual) - USD ($)
3 Months Ended 12 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Mar. 31, 2015

Accounting Policies [Line Items]

Percentage Of Reserves For Customers 100.00%

Concentration Risk Credit Risk Cash Balance in Foreign Financial Institutions $ 329,731 $ 23,794

Cooperative Advertising Allowance Minimum Percentage (in percentage) 2.00%

Cooperative Advertising Allowance Maximum Percentage (in percentage) 9.00%

Advertising Expense $ 279,356 $ 199,720

Research and Development Expense 32,120 $ 28,200

Deferred Tax Assets, Valuation Allowance 700,000

Deferred Tax Assets, Gross, Total $ 3,300,000 $ 3,000,000

Weighted Average Number Diluted Shares Outstanding Adjustment 880,000 74,000

Income Tax Expense (Benefit) $ (312,325) $ (289,891)

Stock or Unit Option Plan Expense 2,001 32,398

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 35.00%

Income (Loss) From Continuing Operations Before Income Taxes, Extraordinary Items, Noncontrolling Interest (807,251) $ (789,420)

United States Bank [Member]

Accounting Policies [Line Items]

Cash, FDIC Insured Amount $ 250,000

Scenario, Forecast [Member]

Accounting Policies [Line Items]

Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent 39.00%

X

- References
No definition available.
+ Details

Name: smdm_AccountingPoliciesLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The maximum percentage of cooperative allowance based on client's inventory purchase.
+ References
No definition available.
+ Details

Name: smdm_CooperativeAdvertisingAllowanceMaximumPercentage

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
The minimum percentage of cooperative allowance based on client's inventory purchase.
+ References
No definition available.
+ Details

Name: smdm_CooperativeAdvertisingAllowanceMinimumPercentage

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Percentage of reserves for customers in bankruptcy and other reserves.
+ References
No definition available.
+ Details

Name: smdm_PercentageOfReservesForCustomers

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 720

-SubTopic 35

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6420018&loc=d3e36677-107848

+ Details

Name: us-gaap_AdvertisingExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The amount of cash deposited in financial institutions as of the balance sheet date that is insured by the Federal Deposit Insurance Corporation.
+ References
No definition available.
+ Details

Name: us-gaap_CashFDICInsuredAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Deferred Tax Asset

-URI http://asc.fasb.org/extlink&oid=6510090

+ Details

Name: us-gaap_DeferredTaxAssetsGross

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name: us-gaap_DeferredTaxAssetsValuationAllowance

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Percentage of domestic federal statutory tax rate applicable to pretax income (loss).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SAB TOPIC 6.I)

-URI http://asc.fasb.org/extlink&oid=34349781&loc=d3e330036-122817

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 13

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32698-109319

+ Details

Name: us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
The amount of deposits held by branches of foreign institutions.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 505

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65207-112826

+ Details

Name: us-gaap_ForeignFinancialInstitutionsActualDeposits

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 940

-SubTopic 20

-Section 25

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51673353&loc=d3e41242-110953

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 10

-Article 5

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Income Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6515339

+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 730

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6420194&loc=d3e21568-108373

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 985

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6501960&loc=d3e128462-111756

+ Details

Name: us-gaap_ResearchAndDevelopmentExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_StockOptionPlanExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

+ Details

Name: us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_UnitedStatesBankMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementScenarioAxis=us-gaap_ScenarioForecastMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 24 R28.htm IDEA: XBRL DOCUMENT v3.2.0.727

WARRANTY PROVISIONS (Tables)
3 Months Ended

Jun. 30, 2015

Product Warranties Disclosures [Abstract]

Schedule of Product Warranty Liability [Table Text Block]

Changes in the Company’s obligations for return and allowance programs are presented in the following table:

Three Months Ended

June 30,

June 30,

2015

2014

Estimated return and allowance liabilities at beginning of period

$

197,873

$

235,172

Costs accrued for new estimated returns and allowances

87,235

54,002

Return and allowance obligations honored

(132,034)

(132,350)

Estimated return and allowance liabilities at end of period

$

153,074

$

156,824

X

- References
No definition available.
+ Details

Name: us-gaap_ProductWarrantiesDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

+ Details

Name: us-gaap_ScheduleOfProductWarrantyLiabilityTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 25 R44.htm IDEA: XBRL DOCUMENT v3.2.0.727

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Related Party Transaction [Line Items]

Related Party Transaction, Other Revenues from Transactions with Related Party $ 64,903 $ 316,594

Related Party Gross Margin Percentage (in percentage) 14.70% 16.60%

Warehouse space Square Foot Value $ 0.096

Starlight Consumer Electronics USA, Inc [Member]

Related Party Transaction [Line Items]

Related Party Purchases From Related Party Transaction One 165,893 $ 1,598,200

Starlight Rd, Ltd [Member]

Related Party Transaction [Line Items]

Related Party Purchases From Related Party Transaction One 32,857 24,769

Cosmo Communications Usa, Inc [Member]

Related Party Transaction [Line Items]

Related Party Transaction, Revenues from Transactions with Related Party 113,962 101,161

SEC, Cosmo USA and Starlight Electronics USA [Member]

Related Party Transaction [Line Items]

Proceeds from Fees Received 19,885 0

Starlight USA, Cosmo And SEC [Member]

Related Party Transaction [Line Items]

Reimbursement Revenue $ 0 $ 43,285

Warehouse Space Per Pallet $ 8

Starlight USA, Cosmo And SEC [Member] | Subsequent Event [Member]

Related Party Transaction [Line Items]

Reimbursement Revenue $ 100,000

X

- Definition
The average gross profit margin on sales to related party.
+ References
No definition available.
+ Details

Name: smdm_RelatedPartyGrossMarginPercentage

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Purchases of products during the period with related party.
+ References
No definition available.
+ Details

Name: smdm_RelatedPartyPurchasesFromRelatedPartyTransactionOne

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The per pallet of warehouse space occupied by the company.
+ References
No definition available.
+ Details

Name: smdm_WarehouseSpacePerPallet

Namespace Prefix: smdm_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- Definition
The value of warehouse square foot.
+ References
No definition available.
+ Details

Name: smdm_WarehouseSpaceSquareFootValue

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Cash received for fees during the current period. This element excludes cash proceeds from license fees.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585

+ Details

Name: us-gaap_ProceedsFromFeesReceived

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Repayment received or receivable for expenses incurred on behalf of a client or customer, other than those reimbursements received by landlords from tenants.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section 45

-Paragraph 23

-URI http://asc.fasb.org/extlink&oid=51671805&loc=d3e60722-111653

+ Details

Name: us-gaap_ReimbursementRevenue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_RelatedPartyTransactionLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Reflects the sum of all other revenue and income realized from sales and other transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party during the period.
+ References
No definition available.
+ Details

Name: us-gaap_RelatedPartyTransactionOtherRevenuesFromTransactionsWithRelatedParty

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1(e))

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Related Parties

-URI http://asc.fasb.org/extlink&oid=16382449

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 946

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.6-07.1(c))

-URI http://asc.fasb.org/extlink&oid=6488393&loc=d3e606610-122999

+ Details

Name: us-gaap_RevenueFromRelatedParties

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightConsumerElectronicsUsaIncMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightRdLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_CosmoCommunicationsUsaIncMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_SecCosmoUsaAndStarlightElectronicsUsaMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightUsaCosmoAndSecMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 26 R30.htm IDEA: XBRL DOCUMENT v3.2.0.727

DUE FROM PNC BANK (Details Textual) - USD ($)

Jun. 30, 2015

Mar. 31, 2015

PNC Bank [Member]

Due From PNC Bank [Line Items]

Due from Affiliate, Current $ 0 $ 137,415

X

- References
No definition available.
+ Details

Name: smdm_DueFromPncBankLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39599-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3(a)(2))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

Name: us-gaap_DueFromAffiliateCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Details

Name: dei_LegalEntityAxis=smdm_PncBankMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 27 R31.htm IDEA: XBRL DOCUMENT v3.2.0.727

INVENTORIES, NET (Details) - USD ($)

Jun. 30, 2015

Mar. 31, 2015

Inventory [Line Items]

Finished Goods $ 7,893,750 $ 7,869,167

Inventory in Transit 600,038 0

Inventory Reserve (383,440) (421,000)

Inventories, net $ 8,110,348 $ 7,448,167

X

- Definition
Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a)(1))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_InventoryFinishedGoods

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_InventoryLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 35

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=51655945&loc=d3e3927-108312

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765

+ Details

Name: us-gaap_InventoryNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of valuation reserve for inventory.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 5.BB)

-URI http://asc.fasb.org/extlink&oid=27011343&loc=d3e100047-122729

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SX 210.12-09)

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24092-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 35

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=51655945&loc=d3e3927-108312

+ Details

Name: us-gaap_InventoryValuationReserves

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Gross amount of merchandise or supplies to which the entity holds the title but does not hold physical possession because the goods are currently being transported.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherInventoryInTransit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

XML 28 R8.htm IDEA: XBRL DOCUMENT v3.2.0.727

DUE FROM PNC BANK
3 Months Ended

Jun. 30, 2015

Due From PNC Bank [Abstract]

Due From Other Related Party Disclosure [Text Block]

NOTE 3 – DUE FROM PNC BANK

In connection with the Company’s revolving credit facility with PNC Bank, cash collected by PNC Bank on trade accounts receivable may exceed amounts borrowed on the revolving credit facility from time to time (See Note 6 – LINE of CREDIT). As of June 30, 2015 and March 31, 2015, PNC Bank owed the Company $0 and $137,415, respectively, which represented cash received by PNC Bank on accounts receivable in excess of amounts borrowed against the revolving credit facility.

X

- Definition
The entire disclosure of due from crestmark bank.
+ References
No definition available.
+ Details

Name: smdm_DueFromOtherRelatedPartyDisclosureTextBlock

Namespace Prefix: smdm_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: smdm_DueFromPncBankAbstract

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 29 R32.htm IDEA: XBRL DOCUMENT v3.2.0.727

PROPERTY AND EQUIPMENT (Details) - USD ($)
3 Months Ended

Jun. 30, 2015

Mar. 31, 2015

Property, Plant and Equipment [Line Items]

Property and equipment, gross $ 2,913,358 $ 2,871,201

Accumulated depreciation 2,441,963 2,404,630

Property and equipment, net 471,395 466,571

Computer and Office Equipment [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross $ 285,650 285,650

Average useful life (in years) 5 years

Furniture and Fixtures [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross $ 4,312 4,312

Furniture and Fixtures [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Average useful life (in years) 5 years

Furniture and Fixtures [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Average useful life (in years) 7 years

Warehouse Equipment [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross $ 224,106 224,106

Average useful life (in years) 7 years

Molds and tooling [Member]

Property, Plant and Equipment [Line Items]

Property and equipment, gross $ 2,399,290 $ 2,357,133

Molds and tooling [Member] | Minimum [Member]

Property, Plant and Equipment [Line Items]

Average useful life (in years) 3 years

Molds and tooling [Member] | Maximum [Member]

Property, Plant and Equipment [Line Items]

Average useful life (in years) 7 years

X

- Definition
Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.14)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PropertyPlantAndEquipmentGross

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_PropertyPlantAndEquipmentLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph a

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 8

-Article 7

+ Details

Name: us-gaap_PropertyPlantAndEquipmentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.
+ References
No definition available.
+ Details

Name: us-gaap_PropertyPlantAndEquipmentUsefulLife

Namespace Prefix: us-gaap_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentByTypeAxis=smdm_ComputerAndOfficeEquipmentMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RangeAxis=us-gaap_MinimumMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RangeAxis=us-gaap_MaximumMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentByTypeAxis=smdm_WarehouseEquipmentMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_PropertyPlantAndEquipmentByTypeAxis=smdm_MoldsAndToolingMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 30 R40.htm IDEA: XBRL DOCUMENT v3.2.0.727

COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Commitments And Contingencies [Line Items]

Operating Leases, Rent Expense, Net $ 155,221 $ 163,470

X

- References
No definition available.
+ Details

Name: smdm_CommitmentsAndContingenciesLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41499-112717

+ Details

Name: us-gaap_OperatingLeasesRentExpenseNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

XML 31 R2.htm IDEA: XBRL DOCUMENT v3.2.0.727

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)

Jun. 30, 2015

Mar. 31, 2015

Current Assets

Cash $ 363,410 $ 116,286

Accounts receivable, net of allowances of $46,698 and $174,131, respectively 1,673,628 1,466,168

Inventories, net 8,110,348 7,448,167

Prepaid expenses and other current assets 90,695 92,609

Deferred financing costs 74,077 74,077

Deferred tax asset, net 761,599 449,274

Total Current Assets 11,168,009 9,783,996

Property and equipment, net 471,395 466,571

Other non-current assets 11,394 11,394

Deferred financing costs, net of current portion 77,164 95,683

Deferred tax asset, net of current portion 1,856,281 1,856,281

Total Assets 13,584,243 12,213,925

Current Liabilities

Accounts payable 3,025,272 2,767,180

Accrued expenses 617,901 452,651

Revolving line of credit 1,537,014 0

Current portion of capital lease 10,601 12,628

Customer deposits 287,110 0

Obligations to customers for returns and allowances 10,361 399,419

Warranty provisions 153,074 197,873

Total Current Liabilities 7,614,172 5,712,453

Long-term capital lease, net of current portion 0 1,078

Accrued expenses, net of current portion 63,778 46,495

Total Liabilities 10,151,204 8,287,961

Shareholders' Equity

Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding 0 0

Additional paid-in capital 19,309,967 19,307,966

Accumulated deficit (16,258,103) (15,763,177)

Total Shareholders' Equity 3,433,039 3,925,964

Total Liabilities and Shareholders' Equity 13,584,243 12,213,925

PNC Bank [Member]

Current Assets

Due from Affiliate, Current 0 137,415

Cosmo Communications Canada, Ltd [Member]

Current Assets

Due from related party 77,012 0

Current Liabilities

Due to related party 0 40,256

Starlight Marketing Development, Ltd [Member] | Subordinated Debt [Member]

Current Liabilities

Due to related party 1,924,431 1,924,431

Ram Light Management, Ltd [Member]

Current Liabilities

Notes Payable, Related Party 551,177 496,496

Due to related party 583,247 583,247

Ram Light Management, Ltd [Member] | Subordinated Debt [Member]

Current Liabilities

Notes Payable, Related Party 548,823 603,504

Starlight R and D, Ltd [Member]

Current Liabilities

Due to related party 582,072 554,031

Starlight Electronics Company, Ltd [Member]

Current Assets

Due from related party 17,240 0

Starlight Consumer Electronics Co Ltd [Member]

Current Liabilities

Due to related party 256,343 208,672

Common Class A [Member]

Shareholders' Equity

Common stock value 0 0

Common Class B [Member]

Shareholders' Equity

Common stock value $ 381,175 $ 381,175

X

- Definition
Carrying value as of the balance sheet date of obligations incurred and payable excluding product warranty, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered.
+ References
No definition available.
+ Details

Name: smdm_AccruedLiabilitiesExcludingProductWarrantyCurrent

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer), including liabilities for compensation costs, fringe benefits other than pension and postretirement obligations, rent, contractual rights and obligations, and statutory obligations.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.24)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsPayableAndAccruedLiabilitiesNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_AccountsPayableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3-4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3

-Subparagraph a(1)

-Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 4

-Article 5

+ Details

Name: us-gaap_AccountsReceivableNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.30(a)(1))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 31

-Article 5

+ Details

Name: us-gaap_AdditionalPaidInCapitalCommonStock

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.18)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 12

-Article 7

+ Details

Name: us-gaap_Assets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.9)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6801-107765

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765

+ Details

Name: us-gaap_AssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_AssetsCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Cash

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The current portion of money or property received from customers which is either to be returned upon satisfactory contract completion or applied to customer receivables in accordance with the terms of the contract or the understandings.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_CustomerDepositsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Current regulatory liabilities generally represent obligations to make refunds to customers for various reasons including overpayment.
+ References
No definition available.
+ Details

Name: us-gaap_CustomerRefundLiabilityCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Net amount of current deferred finance costs capitalized at the end of the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.8)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28555-108399

+ Details

Name: us-gaap_DeferredFinanceCostsCurrentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Net amount of long-term deferred finance costs capitalized at the end of the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28555-108399

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.17)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DeferredFinanceCostsNoncurrentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, netted by jurisdiction and classified as current.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31917-109318

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31931-109318

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name: us-gaap_DeferredTaxAssetsLiabilitiesNetCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, netted by jurisdiction and classified as noncurrent.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31917-109318

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e31931-109318

+ Details

Name: us-gaap_DeferredTaxAssetsLiabilitiesNetNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership, due within 1 year (or 1 business cycle).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39599-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3(a)(2))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

Name: us-gaap_DueFromAffiliateCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.3(a)(2))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph k

-Subparagraph 2

-Article 4

+ Details

Name: us-gaap_DueFromRelatedPartiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DueToRelatedPartiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 35

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=51655945&loc=d3e3927-108312

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765

+ Details

Name: us-gaap_InventoryNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19-26)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Liabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.32)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 25

-Article 7

+ Details

Name: us-gaap_LiabilitiesAndStockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.21)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LiabilitiesCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_LiabilitiesCurrentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Line-of-Credit Arrangement

-URI http://asc.fasb.org/extlink&oid=6517033

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 19, 20

-Article 5

+ Details

Name: us-gaap_LinesOfCreditCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LongTermDebtCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LongTermDebtNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The amount for notes payable (written promise to pay), due to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(a)(5))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_NotesPayableRelatedPartiesClassifiedCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.17)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_OtherAssetsNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29

-Article 5

+ Details

Name: us-gaap_PreferredStockValue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=28358313&loc=d3e6676-107765

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 8

-Article 5

+ Details

Name: us-gaap_PrepaidExpenseAndOtherAssetsCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 25

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=51667650&loc=d3e11281-110244

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12524-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_ProductWarrantyAccrualClassifiedCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph a

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 8

-Article 7

+ Details

Name: us-gaap_PropertyPlantAndEquipmentNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.31(a)(3))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

+ Details

Name: us-gaap_RetainedEarningsAccumulatedDeficit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

+ Details

Name: us-gaap_StockholdersEquity

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_StockholdersEquityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: dei_LegalEntityAxis=smdm_PncBankMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_CosmoCommunicationsCanadaLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightMarketingDevelopmentLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_LongtermDebtTypeAxis=us-gaap_SubordinatedDebtMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_RamLightManagementLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightRAndDLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightElectronicsCompanyLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightConsumerElectronicsCoLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 32 R45.htm IDEA: XBRL DOCUMENT v3.2.0.727

WARRANTY PROVISIONS (Details) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Warranty Provisions [Line Items]

Estimated return and allowance liabilities at beginning of period $ 197,873 $ 235,172

Costs accrued for new estimated returns and allowances 87,235 54,002

Return and allowance obligations honored (132,034) (132,350)

Estimated return and allowance liabilities at end of period $ 153,074 $ 156,824

X

- References
No definition available.
+ Details

Name: smdm_WarrantyProvisionsLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 25

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=51667650&loc=d3e11281-110244

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12524-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.20)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_ProductWarrantyAccrualClassifiedCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Represents the aggregate decrease in the liability related to payments to satisfy claims for standard and extended product warranties.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-Subparagraph ((c)(2))

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

+ Details

Name: us-gaap_ProductWarrantyAccrualPayments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Represents the aggregate increase in the liability for accruals related to standard and extended product warranties issued during the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-Subparagraph ((c)(3))

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

+ Details

Name: us-gaap_ProductWarrantyAccrualWarrantiesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

XML 33 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727

BASIS OF PRESENTATION
3 Months Ended

Jun. 30, 2015

Organization, Consolidation and Presentation Of Financial Statements [Abstract]

Basis of Accounting [Text Block]

NOTE 1 – BASIS OF PRESENTATION

OVERVIEW

The Singing Machine Company, Inc., a Delaware corporation (the “Company”, “SMC”, “The Singing Machine”) and its three wholly-owned subsidiaries SMC (Comercial Offshore De Macau) Limitada (“Macau Subsidiary”), SMC Logistics, Inc. (“SMC-L”) and SMC-Music, Inc.(“SMC-M”) are primarily engaged in the development, marketing, and sale of consumer karaoke audio systems, accessories, musical instruments and musical recordings. The products are sold by SMC to retailers and distributors for resale to consumers.

X

- Definition
The entire disclosure for the basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
+ References
No definition available.
+ Details

Name: us-gaap_BasisOfAccounting

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 34 R35.htm IDEA: XBRL DOCUMENT v3.2.0.727

LONG-TERM CAPITAL LEASE (Details) - USD ($)

Jun. 30, 2015

Mar. 31, 2015

Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]

Total minimum lease payments Within one year $ 10,820 $ 12,984

After one year but within three years 0 1,078

Minimum Lease Payments, Sale Leaseback Transactions, Total 10,820 14,062

Interest payments relating to future periods (219) (356)

Present Value of minimum lease payments $ 10,601 $ 13,706

X

- Definition
Amount of minimum lease payments for capital leases.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsDue

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- References
No definition available.
+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsDueAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of minimum lease payments for capital leases due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount of minimum lease payments for capital leases due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsDueInTwoYears

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Amount necessary to reduce net minimum lease payments to present value for capital leases.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

XML 35 R22.htm IDEA: XBRL DOCUMENT v3.2.0.727

SUMMARY OF ACCOUNTING POLICIES (Policies)
3 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION

The condensed consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in the condensed consolidated financial statements. The accompanying unaudited financial statements for the three months ended June 30, 2015 and 2014 have been prepared in accordance with generally accepted accounting principles applicable to interim financial information and the requirements of Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete consolidated financial statements. In the opinion of management, such condensed consolidated financial statements include all adjustments (consisting of normal recurring accruals) necessary for the fair presentation of the condensed consolidated financial position and the condensed consolidated results of operations. The condensed consolidated results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet information as of March 31, 2015 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K. The interim condensed consolidated financial statements should be read in conjunction with that report.

Use of Estimates, Policy [Policy Text Block]

USE OF ESTIMATES

The Singing Machine makes estimates and assumptions in the ordinary course of business relating to sales returns and allowances, warranty reserves, inventory reserves and reserves for promotional incentives that affect the reported amounts of assets and liabilities and of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Future events and their effects cannot be determined with absolute certainty; therefore, the determination of estimates requires the exercise of judgment. Historically, past changes to these estimates have not had a material impact on the Company's financial condition. However, circumstances could change which may alter future expectations.

Trade and Other Accounts Receivable, Policy [Policy Text Block]

COLLECTIBILITY OF ACCOUNTS RECEIVABLE
The Singing Machine's allowance for doubtful accounts is based on management's estimates of the creditworthiness of its customers, current economic conditions and historical information, and, in the opinion of management, is believed to be an amount sufficient to respond to normal business conditions. Management sets 100% reserves for customers in bankruptcy and other reserves based upon historical collection experience. Should business conditions deteriorate or any major customer default on its obligations to the Company, this allowance may need to be significantly increased, which would have a negative impact on operations.

Foreign Currency Transactions and Translations Policy [Policy Text Block]

FOREIGN CURRENCY TRANSLATION

The functional currency of the Macau Subsidiary is the Hong Kong dollar. The financial statements of the subsidiaries are translated to U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses. Net gains and losses resulting from foreign exchange transactions and translations were not material during the periods presented.

Concentration of Credit Risk [Policy Text Block]

Concentration of Credit Risk
At times, the Company maintains cash in United States bank accounts that are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured amounts of up to $250,000. As of June 30, 2015 and March 31, 2015, the Company had no cash deposits that exceeded the FDIC insurance limit. The Company maintains cash balances in foreign financial institutions. The amounts in foreign financial institutions at June 30, 2015 and March 31, 2015 were $329,731 and $23,794, respectively.

Inventory, Policy [Policy Text Block]

INVENTORY

Inventories are comprised primarily of electronic karaoke equipment, microphones and accessories, and are stated at the lower of cost or market, as determined using the first in, first out method. The Singing Machine reduces inventory on hand to its net realizable value on an item-by-item basis when it is apparent that the expected realizable value of an inventory item falls below its original cost. A charge to cost of sales results when the estimated net realizable value of specific inventory items declines below cost. Management regularly reviews the Company's investment in inventories for such declines in value.

Earnings Per Share, Policy [Policy Text Block]

COMPUTATION OF EARNINGS PER SHARE
Loss per common share is computed by dividing net loss by the weighted average of common shares outstanding during the period. Diluted net income per share is presented as the conversion of stock options would have a dilutive effect. As of June 30, 2015 and 2014 total potential dilutive shares amounted to approximately 880,000 and 74,000 shares, respectively, however these shares were not included in the computation of diluted earnings per share for the three months ended June 30, 2015 and June 30, 2014 because their effect was anti-dilutive.

Revenue Recognition, Policy [Policy Text Block]

REVENUE RECOGNITION

Revenue from the sale of equipment, accessories, musical recordings and subscriptions and third –party logistics services are recognized upon the later of: (a) the time of shipment or (b) when title passes to the customers and all significant contractual obligations and services have been satisfied and collection of the resulting receivable is reasonably assured. Net sales are comprised of gross sales net of actual and estimated future returns, discounts and volume rebates.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]

STOCK BASED COMPENSATION

The Company follows the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718-20, “Compensation – Stock Compensation Awards Classified as Equity”. ASC 718-20 requires all share-based payments to employees including grants of employee stock options, be measured at fair value and expensed in the condensed consolidated statements of operations over the service period (generally the vesting period). The Company uses the Black-Scholes option valuation model to value stock options. Employee stock option compensation expense for the three months ended June 30, 2015 and 2014 includes the estimated fair value of options granted, amortized on a straight-line basis over the requisite service period for the entire portion of the award. For the three months ended June 30, 2015 and 2014, the stock option expense was $2,001 and $32,398, respectively.

Advertising Costs, Policy [Policy Text Block]

ADVERTISING
Costs incurred for producing and publishing advertising of the Company are charged to operations the first time the advertising takes place. The Company has entered into cooperative advertising agreements with its major customers that specifically indicated that the customer has to spend the cooperative advertising fund upon the occurrence of mutually agreed events. The percentage of the cooperative advertising allowance ranges from 2% to 9% of the purchase. The customers have to advertise the Company's products in the customer's catalog, local newspaper and other advertising media. The customer must submit the proof of the performance (such as a copy of the advertising showing the Company’s products) to the Company to request for the allowance. The customer does not have the ability to spend the allowance at their discretion. The Company believes that the identifiable benefit from the cooperative advertising program and the fair value of the advertising benefit is equal or greater than the cooperative advertising expense. Advertising expense for the three months ended June 30, 2015 and 2014 was $279,356 and $199,720, respectively.

Research and Development Expense, Policy [Policy Text Block]

RESEARCH AND DEVELOPMENT COSTS

Research and development costs are charged to results of operations as incurred. These expenses are shown as a component of selling, general and administrative expenses in the condensed consolidated statements of operations. For the three months ended June 30, 2015 and 2014, these amounts totaled $32,120 and $28,200 respectively.

Fair Value of Financial Instruments, Policy [Policy Text Block]

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company adopted FASB ASC 825, “Financial Instruments”, which requires disclosures of information about the fair value of certain financial instruments for which it is practicable to estimate that value. For purposes of this disclosure, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation.

The carrying amounts of the Company's short-term financial instruments, including accounts receivable, accounts payable, obligations to customers for returns and allowances, warranty provision, accrued expenses and net due to related parties approximates fair value due to the relatively short period to maturity for these instruments.

Income Tax, Policy [Policy Text Block]

INCOME TAXES

The Company follows the provisions of FASB ASC 740 "Accounting for Income Taxes." Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. If it is more likely than not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized.

The Company analyzes its deferred tax assets and liabilities at the end of each interim period and, based on management’s best estimate of its full year effective tax rate, recognizes cumulative adjustments to its deferred tax assets and liabilities. The Company’s effective tax rate for the fiscal year ending March 31, 2016 is estimated to be approximately 39%. The effective tax rate for the full year ended March 31, 2015 was approximately 35%.

As of June 30, 2015 and March 31, 2015, The Singing Machine had gross deferred tax assets of approximately $3.3 million and $3.0 million, respectively, against which the Company recorded valuation allowances totaling approximately $0.7 million. A valuation allowance was recorded against deferred tax assets because it is more likely than not that a portion of the tax benefits from the gross deferred tax assets will not be realized. For the three month period ended June 30, 2015, the Company recorded a loss before income tax benefit of approximately $807,000 which generated an additional current deferred tax asset and income tax benefit of approximately $312,000. Due to the seasonality of the business, the Company is expected to reverse this increase in deferred tax asset during the remainder of fiscal year ending March 31, 2016.

The Company recognizes a liability for uncertain tax positions. An uncertain tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax return that is not based on clear and unambiguous tax law and which is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. As of June 30, 2015, there were no uncertain tax positions that resulted in any adjustment to the Company’s provision for income taxes. The Company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes. The Company currently has no liabilities recorded for accrued interest or penalties related to uncertain tax provisions.

As of June 30, 2015, the Company is subject to U.S. Federal income tax examinations for the tax years ended March 31, 2012 through March 31, 2015.

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recoverable. If the undiscounted future cash flows attributable to the related assets are less than the carrying amount, the carrying amounts are reduced to fair value and an impairment loss is recognized in accordance with FASB ASC 360-10-05, "Accounting for the Impairment or Disposal of Long-Lived Assets."

Property, Plant and Equipment, Policy [Policy Text Block]

PROPERTY AND EQUIPMENT

Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is provided for in amounts sufficient to relate the cost of depreciable assets to their estimated useful lives using accelerated and straight-line methods.

Shipping and Handling Cost, Policy [Policy Text Block]

SHIPPING AND HANDLING COSTS

Shipping and handling costs are classified as a component of selling expenses and those billed to customers are recorded as a reduction of expense in the consolidated statements of income.

Recent Accounting Pronouncements [Policy Text Block]

RECENT ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09 which outlines a single comprehensive model for companies to use when accounting for revenue arising from contracts with customers. The core principle of the revenue recognition model is that an entity recognizes revenue to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In order to achieve this core principle a company must apply the following steps in determining revenue recognition:

·

Identify the contract(s) with a customer

·

Identify the performance obligations in the contract.

·

Determine the transaction price.

·

Allocate the transaction price to the performance obligations in the contract.

·

Recognize revenue when (or as) the entity satisfies a performance obligation.

The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period with early application allowed beginning with reporting periods after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-09 will have any material effect on the company’s consolidated financial statements.

In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. An entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU is effective for all entities for reporting periods beginning after December 15, 2015. The implementation of ASU 2014-12 is not expected to have any material effect on the company’s consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The ASU requires that at every interim and annual period, management determine whether conditions or events exist which raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management’s initial consideration of the relevant conditions and events indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate these factors will alleviate that substantial doubt. The mitigating effect is considered only if it is probable that the plan will be effectively implemented and probable that the plans will mitigate the conditions or events that raised the substantial doubt. If management’s plans will alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the conditions or events that raised substantial doubt and management’s plans that alleviated those concerns. If management’s plans will not alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the same conditions and events along with management’s plans that did not alleviate the substantial doubt, in addition to a statement that indicates there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and for interim periods within annual periods beginning after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-15 will have any material effect on the company’s consolidated financial statement disclosures.

In January 2015, the FASB issued ASU 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. To be considered an extraordinary item under existing Generally Accepted Accounting Principles, an event or transaction that is identified as both unusual in nature and occurs infrequently must be segregated as an extraordinary item from results or ordinary operations, separately presented as an extraordinary item on an entity’s income statement, net of tax, after income from continuing operations and an entity must disclose income taxes and earnings per share data applicable to the extraordinary item. While the ASU eliminates the requirement to segregate and separately report an event that is identified as an extraordinary item it does not affect the reporting and disclosure requirements for an extraordinary item. ASU 2015-01 is effective for periods beginning after December 15, 2015 and interim periods within those annual periods. The implementation of ASU 2015-01 is not expected to have any material effect on the company’s consolidated financial statement disclosures.

In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense”. Any debt issuance costs incurred before the associated funding is received should be reported on the balance sheet as deferred charges until the debt liability amount is recorded. The guidance in ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued with the new guidance to be applied retrospectively to all prior periods. Management is currently assessing whether the implementation of ASU 2015-03 will have any material effect on the company’s consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. The ASU requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out (LIFO) and the retail inventory method (RIM) are not impacted by the new guidance. The guidance in ASU 2015-11 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. The new guidance should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Management is currently assessing whether the implementation of ASU 2015-11 will have any material effect on the company’s consolidated financial statements.

X

- Definition
Disclosure of accounting policy for concentration of credit risk.
+ References
No definition available.
+ Details

Name: smdm_ConcentrationOfCreditRiskPolicyTextBlock

Namespace Prefix: smdm_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_AccountingPoliciesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 340

-SubTopic 20

-Section 55

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51677389&loc=d3e8384-108330

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 340

-SubTopic 20

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=51662920&loc=d3e8275-108329

+ Details

Name: us-gaap_AdvertisingCostsPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.3A-02)

-URI http://asc.fasb.org/extlink&oid=27015204&loc=d3e355033-122828

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph k

-Article 1

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02, 03

-Article 3A

+ Details

Name: us-gaap_ConsolidationPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

+ Details

Name: us-gaap_EarningsPerSharePolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for determining the fair value of financial instruments.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13279-108611

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 60

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7493716&loc=d3e21868-110260

+ Details

Name: us-gaap_FairValueOfFinancialInstrumentsPolicy

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 830

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 830

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450222&loc=d3e30840-110895

+ Details

Name: us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 05

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=51717228&loc=d3e202-110218

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 5

-Section CC

-Subsection 3

+ Details

Name: us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 19

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32840-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 30

-Section 05

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6423966&loc=d3e40913-109327

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 954

-SubTopic 740

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6491622&loc=d3e9504-115650

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 17

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32809-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 25

-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e32247-109318

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=37586315&loc=d3e32280-109318

+ Details

Name: us-gaap_IncomeTaxPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=28360613&loc=d3e4492-108314

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.6(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=28360613&loc=d3e4556-108314

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Financial Reporting Release (FRR)

-Number 206

-Paragraph b

-Subparagraph i, ii

-Chapter 2

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 6

-Subparagraph a

-Article 5

+ Details

Name: us-gaap_InventoryPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.
+ References
No definition available.
+ Details

Name: us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13(a))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_PropertyPlantAndEquipmentPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 730

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6420194&loc=d3e21568-108373

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Research and Development

-URI http://asc.fasb.org/extlink&oid=6523717

+ Details

Name: us-gaap_ResearchAndDevelopmentExpensePolicy

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18823-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SAB TOPIC 13.B.Q1)

-URI http://asc.fasb.org/extlink&oid=27012821&loc=d3e214044-122780

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 13

-Section B

-Paragraph Question 1

+ Details

Name: us-gaap_RevenueRecognitionPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (b),(f)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name: us-gaap_ShareBasedCompensationOptionAndIncentivePlansPolicy

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for the classification of shipping and handling costs, including whether the costs are included in cost of sales or included in other income statement accounts. If shipping and handling fees are significant and are not included in cost of sales, disclosure includes both the amounts of such costs and the line item on the income statement which includes such costs.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Shipping Costs

-URI http://asc.fasb.org/extlink&oid=51575562

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section S99

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6408413&loc=d3e221937-122793

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section 45

-Paragraph 20

-URI http://asc.fasb.org/extlink&oid=51671805&loc=d3e60635-111653

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 605

-SubTopic 45

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=51667946&loc=d3e61069-111654

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Handling Costs

-URI http://asc.fasb.org/extlink&oid=51575068

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790

+ Details

Name: us-gaap_ShippingAndHandlingCostPolicyTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for trade and other accounts receivables. This disclosure may include the basis at which such receivables are carried in the entity's statements of financial position (for example, net realizable value), how the entity determines the level of its allowance for doubtful accounts, when impairments, charge-offs or recoveries are recognized, and the entity's income recognition policies for such receivables, including its treatment of related fees and costs, its treatment of premiums, discounts or unearned income, when accrual of interest is discontinued, how the entity records payments received on nonaccrual receivables and its policy for resuming accrual of interest on such receivables. If the enterprise holds a large number of similar loans, disclosure may include the accounting policy for the anticipation of prepayments and significant assumptions underlying prepayment estimates for amortization of premiums, discounts, and nonrefundable fees and costs.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6378556&loc=d3e10133-111534

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 15

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5212-111524

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5093-111524

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 3, 4

-Article 5

+ Details

Name: us-gaap_TradeAndOtherAccountsReceivablePolicy

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6061-108592

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6143-108592

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 275

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=51801978&loc=d3e6132-108592

+ Details

Name: us-gaap_UseOfEstimates

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 36 R36.htm IDEA: XBRL DOCUMENT v3.2.0.727

LONG-TERM CAPITAL LEASE (Details Textual) - USD ($)
3 Months Ended

Apr. 13, 2013

Jun. 30, 2015

Jun. 30, 2014

Mar. 31, 2015

Long Term Capital Lease [Line Items]

Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments, Total $ 10,601 $ 13,706

Interest Expense, Lessee, Assets under Capital Lease 142 $ 277

Wells Fargo Equipment Finance [Member]

Long Term Capital Lease [Line Items]

Capital Lease Obligations Incurred $ 36,388

Monthly Lease Payments $ 1,082

Lease term 36 months

Long Term Capital Lease Interest Rate 4.50%

Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments, Total $ 10,601 $ 13,706

X

- Definition
It represents the term to pay the lease amounts.
+ References
No definition available.
+ Details

Name: smdm_LeaseTerm

Namespace Prefix: smdm_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: duration

X

- Definition
It represents the capital lease at an effective interest rate.
+ References
No definition available.
+ Details

Name: smdm_LongTermCapitalLeaseInterestRate

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: smdm_LongTermCapitalLeaseLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
It represents the lease amount required for monthly payments.
+ References
No definition available.
+ Details

Name: smdm_MonthlyLeasePayments

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The increase during the period in capital lease obligations due to entering into new capital leases.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4313-108586

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4304-108586

+ Details

Name: us-gaap_CapitalLeaseObligationsIncurred

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 50

-Paragraph 1

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=6455398&loc=d3e45280-112737

+ Details

Name: us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
The amount, during the lease term, of each minimum [capital] lease payment allocated to interest expense so as to produce a constant periodic rate of interest on the remaining balance of the capital lease obligation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 30

-Section 35

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6916424&loc=d3e43161-112731

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.8)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_WellsFargoEquipmentFinanceMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

ZIP 37 0001144204-15-049542-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001144204-15-049542-xbrl.zip M4$L#!!0````(`&1E#D<$ZWV,J)X``"P]!P`1`!P`V)CPP&3D,PHBE3S<%FSL?]]`4J40(D$2(J2)1DS M'3T>\_)?E$UDYDZ7\Z_WM_\W^=B\>G3K?SZ]>O+PY^19R^XHL=C#K=;B;H'$98 M"'[/G^W\)/?>$_+N##XGQ&T M7UT?D=<>$Q"2KF#-IL]XKO\S]PQYWY<@'.([)>687'[!\K/;R57'G3]`WZP? M3R_.;UUY]2\EO1=8EG6<7IW?&KE%-^*7@N,_;ZX?[5+29ZQC&-IAX*'CQ2.QAYA;?K;:X@&^#?,733U$+_!C]!YW M'I$=8\^3>@96L9\!NK^6L;L`G53ELG"QKYX-\HRZL8":ZXW[:=E MUNY-)$GKNR/DIP/#BFG:W`,]W_OV.?1_WJ#1"PIQ,G^-AM"[2-4Y>W>C+=MT MV9.C(58LGLN;77`PD/>QY]IN/,7=<3(#?#O".IRL*$%2W).\]Y:BE:=V/JB[^]0 MW]].-H=-@F\9OL8/9[[3OXX=F@(/R",+`_UCP9H?#" M0W8P]#/?F=]T M/ME_7U9)N908948Z;&K2? M)<,DB@'9KXSL5'$%3`U`S/4(/12EJYL/Z"WPWO#3O1`Y;GP);==S\WS+7]E/ M7DWWMF5:9^48:MNNW57-(L,N.@"C741`;=`C?H-^`L,):=;?$F\BND/5[E!B M.-$7=K\O?!(Z"Q)M8H0BR+-KY/F844@#%FSHX,;^DFLOSF&('M!^,!4]0?2$ M3Y=(E'6@V7;AVR!&@O85]U8OC"6X55Y'77!K+[FUJZ7D%_2AX"RJ8$WM7-.\&W_^?81AX($ M<0Z..)L>XBYE46+*;Y>'>;N:+N6'>2WL;'F^<7UWE(QR;@OZ0['MI?VY#LJN MV4\YZXMAYZ:Y#M\%US^.Z[3U!=<97&?Y9'&DH^TC'<*5;YO>## MNR*]18VPO:T1MH=L^^$G$7*N71]%=X/I")KFVG1JQ87>E1_%84+LL]_$*E4H MNZ'4(()&#!K=!F'\>C;";[0AS9_YAW>^HV`8PO$KON[M-X,8*F6WK%I#D(=! MGHN$)"^"-K0=!&$8A'D,$MR_!I_;V4SW7"U;0O"&L6HBHM1.1JE=72W)DT=$ MJ9V)4OM!&!&E=BU*[2IOEK*;;!_UV6#@>BX6%HGIGZI[SY=M)O(AEH<23-M[ MINV83RO[+I!@V#XQ[$,_2"VHLK]4V70%PI+X]>"(-;(Z7\=T/GIQ;,>B%B\3 M_Q'!]$.19[[SB&Q!M*I$*[*;R,B9-557/D>*;7CE"\XU^)`K;3G!.D8<%:P[ M+-;M6705V=N>96^[ZM5*^%7P86;AWM;^MO4.^+E=Y6')*%7P\$!YN"?Q%MEI MNH(-1L9CF4GSIA14Y%&QNA6%5V1Y1<'&3\'&/?&-;<[TD2\11^BO!-OLX@WE MOT"Q=&G_#QYM:W*P";928Y?<(-QV]6163(GO_93XCKGFE:T#@?WS;DS,2@XU MRI($@/+@"]OUZ((M&K^YI`2N^L#[DC%YMLJJN#W<A-Y% MJLQ^L@3K<+*BQ)0&54QPV"SX/?!M-(ZC*WQ+Z*?KPM#+Z2_<2*D;X1OOP,A3 M]GTLWSZ'_L_/X#)RJHKY%\;\BR#%9YXB*9N]MI$/\>LN@Q#9,,I/.&=G\[*; M]I,F*T<-\^K,+Q=:0G@4AD<1%8!VO`+0Q_N@Q'>G'(I>88B6VWZ$8)2$Z'0& M+[TE>UUVC19!WE;R_A^/_9*7NU&@RL`XP7G`^A%:"HC]RY:2";\ M/NUH%]-.6%N8ZM)+R^5.X363 MK!V=_@,4R:5>2DN>YH\/:.ABMXY'9F19I;90_>CT\>KV._ZGWETJI@`&!HPV`+3&BQ@8K MZ9:V%M@^&B!\P7F"[]/[KEWX0CZ]X:((-T1MX^I,O*IJR8:Z`%Q->FN82VQL ML'N*#C3+6A=S0ZZ:[.8W3,6R]`4V9E,W9*#%A```T$V)[C&:$",50@58;]9EM!XD?1P_(1NX;?/%0@]BNL$,%SH`5W`.H%F<(71-@ M<4]0V+$"X&"&`VPS@#T8O5:W%#LV*+JB`HIZY-T5Y94HSG/]N%UTMKS,%O=P M0@Q1V_1LORX;N@%,:=7T>7$K1E@,[/X)O00Q>]GTYIX'H^B\<+DGO70W2%^W MTN\4MG>?#CLI$RXA:POY60/D;/\OM0J:KLNQEKG9X6,#YBY$WL3*!YY??@V(VA1SU6O?MQHH:E2(:ETX,;KNS&#J)DUI0=/!1)UF1# MKNL@".AP] MZ$,'MJ0N.\2IN#WU)MI227)Z?`\S\37P'!1&9"@73RIW"943$U?28I[D%I"6 M=`W.F&@EE:Z+=-U>4G#$O!>T1"-VV)4E4Z>]PL9[S69V/)/CCT'HD.5&Y/31 M2VX[P77@#V,4CLCO\_-X.1MQ!GB6K*I;<"U%96I:=)_LA$`S96D+1&"6'6O5 M?=89EVZI-3?9S=GY"8X5"NW@&H6+RI%!8ZAX&3V/$?,"0KZ).Z8V^-G3^HFJQK&&\S%,T85\)\=K"OQKC6 MC%F"D1UL=6!84FO&)%Q\FG&Q=JMS)F#EW%Q<@:1F8$JLQ@YG0$JW;=0`TTNB M.,"Q"+\P\><6KM\UV'%'L2P54,MM;*EK8RS98,.95I44.AC5@[A$PY2P>)1/ MYC?(/E*GKCUU3NRR#--0Z&Y<27Q[J$LLS%FJTQ2)7DAOB)IR`[7-R@XYF@%D M52L>`*X#IL1:['!BZ$`%="I>`0S5WQNL&>J]5JC\3^(!BZ/K(N8"ACT-=A#M(,DJ\:;(U(+O`JS:3:+ZQA:X-L:0AV?&@ M=8@+SU3+D)Q`80"]8'M:J=PV@):8D[/Q3]--90V@2TL59[ZS.C!H$&0,SDA$ M,8R"M>QJ()95N`UBE#VZ-)2MDW4],[XYO];\D<&9'=1`+DC44*==2RPFDC=F M"7;$5+&#ISZ4QV9J%+BD;/6*YA MND?HH>@!O2$_0=^#P(E6''WQHT0^6T_PJEF'G#1K03(N:FJ%$U4?!,`@[#S#)ZG`U%(_(\_`@9':DH;XY M.'MVR$0S%83STAIA81B%$P8UPY`K8_F.?!1"C^1,SLCUTY-LL?N&&AN*'6@L MV33I/?4<\>V@91PSX\P_`@E89G.X?30.\?O2)53RS(@<9/MW^G]K&];B^'5+ MR2W,E$M>'R3#GAP?;RB*T@CDW9B&KFQ:N5A9(G<]>`S+<>89%2`K]%ZPBO!P-K8. MRSBSB:IE:3+5&W/2FD!AG?5E!P&,1;5DO2*6M$P9BN*F\1-'',Y1&U6FVRHG MK1D8EFG8_ER3`*B#)C,:.;;1PUAHP/WQKD77USLG,BGV[J=(K%%M\*6!9_.?$P[R?J8253(;.I"[(4YL9IM0V4 M[K@EUZZB*)E/#S>P,V>9SM1`[IAT#3";T(35"-5W,JZCQ=*B?'."\X*N:EBY MD@5%8EG#A_H6!.S8RQC5-,#!,`W@K-B5#UQ*:US\$;HQZ@>_FEBE\O;$56D% MT21$,$)]-/W?*S][9F7C9B5HO.T:$O:C^6RR7'P;6%F-RHY=NJSJ,F@-ZJQH M1K:$5E@\HX&]V4')E'2@L%2H@FJCNK':AQ?#+*!N7KT40[6)G-43E.-8:\J4UVP;V9@ MZ3AZ5W4U:+7R:);9>'.19JX@6;4\>K6S9W&-&BHWP,H.2P5SDWP4;4)G,8`= ME0KF+=N`OEH8HX'1V;')D'!TJN+F%QA:Q,VP.*?*B2E)\L9P%VZ9J&]Z3AT4 M794UE9G/,/%L1AU6BW#"G4;.ZVU6G:6-=`V:A!T)+4,VF-UX%4.+N%FVY]7K MDC6%.?8J!YX>H5I]H.2`2P.39G1-=%=.2M,;HJ44< M4@HHS;HP&+<)9)`228AAT2K,>P*VHRVI$ MWN$&655SA_3:51=[.S+!&CT%9_9?B1NBTMJ(#5J2@9F>I(6M>!T3R< MBC2J#'*#J,8ZE+0J&31&F^AEG$(TW:7&60_>5I1E-2(G-UAJQ7:5?4#C&2ON M!F0!`[-@=GKJFOCANQ?/'39N1IU,=2.LJL-J&,[(&DM:&"B5M.ONH MR0;Z%VO*DOAEB,BJ@$,!@$X15DL7=>JP:`WDMX-YAVPX78%7DV4 M_'8%ENP6<+):D1URI&88"=LN^U>]*Y]\O8?LT4TX9YY^^.33G&E!R6A1^G>M M@U^`4SU%UL@74O)=9`7TLF;DHW#NT,]]`,R-DQ0/]M4)]/IH'$1NC7+4@%-! M158,N@YY=02M8B_C.>>(@VP9]%Z,^N"GGW%$H8TS'3A$=X,'%*$09Y_X5=FH MO4G_I.-&^DFJI0XZFRK@2<[![`6SK5)OZ,QYPV,=-R(AW/."7V2;SHWKNZ-D MM'AE`]@6`[:,^^L729XAKPNFEB;P?5U-"<(N:EWTIBK,12%6!I2N;U[PVL7.%^\<)'H.1[7:#@6NW MU(\YI7-D4].UQA1?0]W+),2H<'*#'[MTW\E?T7J*/#6K)]_\JIDK"&?R4?@\^^!8_%I?L+LDGH MV9Z/Y@<3.95Z2%5`NOYD923M*\$8SG)JYDAK:;`RFT.D!B'VX^1`50.P@#M_ M432'E).:PT;KE)[VBLB^WL:5"P"G<@Y0TXWN%42OCY)E1G:LEVHAS.A17F`< M]])JA>6>Z:GE-B:C>55ZTLGH2E\QR.FP$=4W5(D-<,H#X:&J(JO&VC8H\@ZS M2<+II#[UM>M^0CKC=$FP4@"]1_#GK#C.(W8W@7^.XE\(^6?),(EBD)[,M%-; M*6!J,T+@M"Q56E7L`;T%WAM9.,GCH\R;OU)@1MX:L[3$I:8&V0G#_@;]!(83 M8MG?$F^R.:MR/L2\W$';,FIZD->/XC!)LS&(DQC\IC[F?"6SM:&Y24Y&`*,K M&5V0*T!:AJQ:6C`-P`_X_MID:$.K2DLE330H#8C9@WTT@(F7/K0XC-WH"FIIHI61N)R^+E&O73# M*+[';4T(_XC^O[UW;VX<1_)%_[\1YSO@UDZ?J8J0/7I:=M5N1ZALN5K;MN6U M5-W;]Y\.2H(L=E&DF@^[/)_^9B8`$J2HIR6;#[-U?5N*S>=]V*BKVSNOB!]M57VK.DUFJ3>W(I8NP[I*!M[*_\_TRZ[8B&:1:76O98"$R M%^7N`YPNRHG1)X#/OXZ1O0+SK%*1#+)R^BMPH?2?K\<;DF+$NMT)H2L089K5 MTU2AS<+9/Y_0E!N^>T(W*+1?F\@%N<(=X50MLM)J0&C]STJ-_OWG[V"N!Y>6 M?^_%H2^)`;\3LE>43)S43G60W>7TI`[M-=`V<9[HMZI,X?4)KJZ`E*N43Y4) MET=`VBK%;["-2A'(JKS[^;9V9[Y=?T.UW85:!I#;UZ[KGD_HB MBZ==F>QW\5;4BZ8;P;W&XEU$2WJ7YR=I5%>@XE6J9Z?U3:A*YK#C^>>'I:LK M@/)0%)=?<"*NRK.^*^/N+&-X_5%9B$E26(R4MGL@@ M%5:;S=U0\?R^J-F)KXC'U!JIGID[;8PJ_[1Y@`BJ"YW=9N]HEUR#>9<7C7I17)FJ\DN6^!5Q:#@ M,:WLGKO99#=I,)99VA7P@I7&R6GU^;U^Z>*E.Y;`0K9[O_FR5BOO?OZ_3OAI M9#^P('QR^'^]NV[=?>GL!O^R.Z\J>66 MQ`BR==VY^N-CYE6?Z+M>Y_]K MBZ$^Q=.P7?&?6?B.68Y][_[7.[R;X#X-AZ/]"X;;]]#Q^P=JU#&LM1HI\P;Z M]4VWWV85]G^MZ>S3?U0:Y4_L&T-)[;+&2;$6NY3 MB8&M?5QB%KO@CO5H^6B/^#-/@`VP]R$\*K;D%*3&)_E4_$GE4TG_NG=]ONBK MG#EH/_W`+'?$L`HUG/B)YSA/1]ZC"]HNB`:!/;(MPG:&(=C[&I^]83[U)I^!#B5YZY=W;06@/`[$D MJ:?A^Z.KN>GBI]=18`_%$]D'KM,/P!QG/LA8WW:>&'?OK7L@#7825WB47'V5 MV%1=B)5HE,!R.//&*#N#",AFWRS?\KYQ9D4CVV/!4X"-$."WPR$8=P1!#>_` M:<'RV/%U5D`O4Y_[?$A]%.Z#8X8[,Q,2/J!I!MB1;O!$JQ)Z\-O0LAVLN,4W MC+"5E3V(0@\^&'L^?$TSA!^J&09SYV(5@Q[/GR3]_*@_\-\A`19BET;NH[)2 MKWVT1^'D8Z5<_ND3H]\<.=:3%X4?Q_9W/OKTC@TQI#>SL'Z=GL._9]9H)/^. MW^_'_QK%D]'_Z2?_Q&'PKT13SJF\.=!34!"@,X>8/1S_Z-9S["'L6Q]TXV=G MKI'Y6HJR6E1%&=C_YA_9Z7$#>+U2.0;AM7<]O*4RK![UOE[#^_Y`'=@Z/^]^ MO>EW;KZPV^Y5Y[S3[KV@N.^W_[=_U+FY:...E7'M/K%GJ8",6EUXU`JS([F_ MD3-@_\S,X9^E?P;(N?^4,YTS*G2:;^\Z-^>=VZLVV3KGW9L>[.\%&3NL=7/Q MVF;0\U4]"(\1.OOD)X(PMT=X%\'&"H`!GH*T:@$(>P>__.P++J%8N,12P-&7T MG;2ISK"1@"\FBF/Z([P38H]V.&'WHN6C0T3S&8YO):X/Z'Z8RP+$[@OM!NX=PX7%[XK=CN18QWQ-F]FNSA#F/0T M3JLI`5\.)UL=!%P`:_17%(3B\_?XJ$VX=SB&BTM"]A/XO/B9)9SAX`-S.1I@ M8%O&'#:V;!]9!B.@8AWETJZ<&.&AZ/N_X`EX=^0(CO!BA#!Q)#9Y(I[QC))= M`S5I9&$P")%!%'5HO=KN"/@7L3D40>JMP,\#SOCW&1\206HA(EC5)V[Y2ZE!_J2^$D8^6Z@+`^!^0-S>9012)0W!#-2@O=+")+X M,WHJ_@-%$'BW4P^G0\H5HW,V?D6GRQJ/059)(88'#67>-+:#+-$H!U_I:!#A M^+?PR7'B&'M=]$/Q:A0#FO!?(1D2I3\_(5_TN1<_XJH&;T2E"MI#I(U)F!\S M<3''\,'DY:"9.)$>,'!&4<(/,`X!8@QL,1B2Y(\U@)E&J)BY'UH@Y)X^X;,^ M-68LR="%>"36;PDK2",AH-_Q[QBQ$3O_5S2Z1TJ/V2^@63T?0Q)HD,PL+"&= M6+"BI$K@.7@@>2'983C5"T/HRF6ZPRIBA&%L1@<3%P;S(>I!<:+`V.`_A(K2'I-*MFY$[LKD7$H M@GZ!1W0`\=OS[M55^[S?^=RYZO1U;[_'[MKG[BL?DYV)_(J!(7\`A.-!NI]9AHFM9"D2<0?F$!G+A1S+H_W)D@BE&3JBPI[V&0A M%!]ICB2)+7CL7K@!B036W)#Y$Z3^V)^\+):@66D,%U=&[L\(ONS>M<$F9>=? M[^[:-^=_L/Y=ZZ9W=7!AMK%TU?!`D_`$$2#E;?:V"44@?OZ+!P+^5_RO$587 M27^ MI2HNF^!8^UC[E_]D$B&0-S_"%`7E@8#`I91)>@Q+'[)[,!KE4%X0D$V(@0*< M)WGJ8X$-FPR3"A'&,4-'2K)'+J,1L>FG&;YSL8L5+O/ARI^"!_M5&@0&T>SQ M4[Q(N;*'G%22`"`7KC^"KH1]'(+&6;S8^Q%+YQYYAG[LR(BB179G!]]>TA9L M@1DD/&\]!C]%[XL.TQ`AXV&ETV%4-$,2RU!XMCX96G"TI,6'[[OD(PS+,@FY MS`CXFLR`<_W:7[O*1GCLU$VV+;"R=:@C98#[R1"(9\7[($,5Y(5 MJ.28'L1/4*[E'85J9Z5FK9(69SCR;O>U5FJ>U5.# ME,CH1X/X@3M/;]=L++C8+I*-V+GYK7W3[][]\A%0M5T MYMOH""8)0&A:H0_H>R[XVBJEAZMBLQ(#%]SW9A//53%5/;V'/L!,G9`,01ED M!(<.'$$*2P8ANHDBDZC$K$"/[`DSD:YE$%8#9OTSNL6"K_GT:/!TA/^+;K&-%\D< M/T?CV)KAM2I&`":2F/@.:?Y]8WI?/`=ZXQC\60HS>(_"__5MF#KYV@&(\19& M]OQ[F::$I([C4+.XN:+)T,`R>#):0`T\"#-##SDS!USDH8.NNYR'&%J+5/AT M,>L[&*M^L/ECD(E7VM1ABWYJ)Q3:,NQ`5YKQ$/`#FI`QWWX5>2IT MO=2ZN^G>*(DSI(7!2BD%,36O/=WS"YL)U*'UZ9VSC29>!;: MS7:@KF,D'`:=[1#3[SQY>94*=HWPS1CL$O2.B`;=LHGIZ?S9C1-C-.OS@P@ZT[9=B4W$[8N\VI%K M$;OUV:MXP3*Q1S:2>\LMW\7<56UG-TKJT3^I@[`>6E'`4Y=BE%.`Q2Y':M^, M66H$[:>[-IBE7]MX2]3]2EL8WW;OVO]6MR)DMV(P#Z;RD;VW/HA3 M#"M!TG@B^R7`Z7X_^""--#N$F<\LBB?*NXWD2D8E*VK7&'1-[UO4:BIU,4+T MJ-DE27X!?!U@71/]0+NL224[H>+QX_;UJ%I\@K"$OYXH`P*L91$$%89FVA.` M5]T3U+7X$K45VK5BCA1'C?DL7Y%0^>$XTQ6\'&`M1^/&'MY@"AMNAJU4`SK3*LX91]:T M\L,>VHV6/PK89P_^)QWF;/4^I\*R,2*G-1TE8O%21=PS[8PK1N5DZ/ MJN52MB"+NX&8D%;+UR,[-O5MZU&0$)=MH@6,\#:A7@T%9FWOG(F1D@P>DJAH M:!V)&VW5AACE+Y_.'.^)2DBR:%(E14> MMG:+M"HA/'U?IN6S>M+&5.)=75N]3]*2\5O9T%I^^R$=[HT"F;KTV;&&WXYZ MPXF'HEI00',5ZSKU1MS!A1#33]%YS-IY]),BB#=&$KM%8KJTEX-,X$);3%H6 ML2:T)WB1;XD&0")QQ(*)^18Z74<86)"AF7C]B`,".YQ;2359=&^PM`U?F:A( MK"3$S+--*1*1^]12J=5!BWRWD6CP6?8=[:Y52[6STP)$N]EKJ$56/JXV]'HO MH\6WW;'6Q6_MNWZGU[GY\I+!'-%AV%8`D3*9=A0-J?0!3LLL`GL:S'3\,VDU M.5=!A+8O!6`IWJ$)ZB0,338_R0[M/2%E%\]``/.T<)Y8*$@0VP1U!$5UXX:A MJ3=8]R!ZA(J@E%8,#J=3I^1EH(KJDG*0%0YT-2@#TG&F%0Z-FH0I=Y!2>*D@^9[#V1(OEWA,UVE`J.N2`SWY&' MGB6E2S_(HT79/D]I]DV82'`ZV`[H8OI%)L0S?O M(+]=)>*GH.,I2CD&+XFZV914_:N(1XZFV%4ZE.(I?M%VSNVV;E60I"#1Y13? MO:]3J>;<-.U67)Z6JMF;IA5BS`1`?S`I=MGJW+'?6E=?J=CRLG/3NCGOM*Y8 MYZ;7O_N*\NQ@1)EN?%DCC\KH,5))0;K3:B,5"TQBGDD7BT#'8TIX1-1RQ.$] MO;0?2X/TTNL!9@7-&VFR(C"3PJBPAM"P$F,(NVV&UR\)YH$*50D[4N2QD%0# MPW_F!:IPR=9G5LJ9A)4[O,JVE_5%,(*8B@`UB'\U5.77*OEZDO0@33YS;%CA$:WD*Q=P'XK\6.=$#"W? M)Z0/+04Y[0@B)EAXA"EO^0Q:TF+5<=9T*4BE*(%07+ M\0U%22!&<*UX%Q_""\!1Q(5!(LH[)(_IV2&!SO_RYR)*ZUA"_PG*59`6OI[* M%F[*UPGT,V#N"\M[GEMAH0@Z-^?=ZS;KM_YWWS`$.P`=6'WG%RO%9KW,WFEW M=\CV'9$'UK>^\^#X'2/@8Z$AL!0J50GU)!-@\9WR=26LK>04_PRM[PL+_=/) M#0GR"5W>XX-HW&/DAFH&K%"@Z`D?9&2/803QC5(U87YE6*[PX]\E0LT2N`(1 MV4EL99K3@()L%VO2%U_8B11B[EJ4H8M/B8*Q.&E7)+4Y%&F"KT6&A-@%Z?0\ M45,`^$/I9@^C>7R*-2C^4VI%+)^GWCP0*_U`P5],C.5AZ*"?)C8VWC:ZGA+I M7*#"U]E$,BED)1K.,R:,LCOBS:7D7)T8)6[1FDG?R>$2T;:A3W?,.F-I$$T1 ML]*QOW&ZB03K`>-T(@Y-*8O)=9J5,W.R0^@1@1[CX+00Q#.YE4RB>JFYS\,6 MO/X)?R'(@.>+'\NUG*=_(SN$P7I"0>:R"[00;J$]+)&"),M0^7Q.%7\J&#S` M:&]L,\O:_1A32?*X.M+(L*5DQ['(?QHY*C":`%O)E/TUR$C%@%,3FQ\Y$7Q@ MN%MJ@B);-U7!=$+AW/C*6ASK/2;"UC)7#8*H900DZTN1E6S]E17L=;J-S'0+ M>#0*?6[7K13,JW/!BD&1G9=W.E`FIS9^MU&TXUK:(IVBRRF1X'8\4CEWI&S* MMD5%W+H3K>2A2`V%U-:*L+Q-5DGA MJ[2UE84(5\DCG<@4G[)<9`, MH.!;TIMBIXUCA$[PZ?K:#F*,%;0FK*(4^=YR?LIQVU!;8MKILR9@F2B!`R)0A' MMG!>6_VLE!1"TEJXT)Z+^3BK_2;UVOA!DJP(:`0FKT4;1?J^*K M16>`20Q2O"25$7*ZBU".1"8_)9O$(D(TDED42V5<"OUDVK)?E4@N`_?9(693 M,=$0YZFM8VI];0%]M>ZHDNT=D4P&*Z!S=ZQ$"3%'1FSCR>%-1?[<4FL81Z@* M9KW/Y]X?BCQ?Q,>ZG@VBP5\$Z2GAD13DB2;2-"F@X8'#%R(JE>/P5=$4\Z+[ M2<:!>"$8R`)NQ<'PS`L$TZ^Z-U^.KCJ_M2]8J]=K]PL;45]A(`E0`L=S[X\< M@M.6NI\$*?S(]DGD8QD>5?&F(52IG,X.(WFN9!R5Q',`P2^YGB%20O62SRP>;BQ]GF`?']1>VD?%0I'Y5!KF6O M,7`JG>3%\,F%'8"BM@BR']N/'UW1KHG^CL?OC&PJ^O%[`=ET>]>];=_U_Z"< MOO;_?.U01M_!"*A;'S/?0H&N&M1C\&H)^K(#LE:%[?X>+ADIRP$^^*NR(M.9PRJ[.%4CN"%/I8MK5!E0-IN M+#JR:+>.2(/A,2R-FC1*+2FFA/!"<((X7AX%'+&`'0(R%]=Q6+WMQ&&54::N M2UQKOA1L=0$9R<@$K2;XE\[M+;:V0IGP"_S7%?Z1)/D>@F#H3>S93)4A(0B5 M(SJ,QBF^J3K7_#3==`Z.N(,&%]`1YUP#%9"7^R*LBF\C[1]#WDN!D.3S+LKB M%3Z(P8Y?D'YY`-CQ"!!_TT^UA[OKWL"_S]L'E5G:<<&3?=**;M>JF+=%_^G< M7WR=49>+=%7\UU1-/8YV5#Z3$4DO"@66F<50@3D2'X.#=Q'@E:PHK%8-HBS7 MIDLE5'T"",1*F\<2CA@.JRR_P[BB@OZ0U7_QD5:-B$173M&T*L'W$"^2%KM6 MY&TK:%67ZI[#5.A*/8;Y/'QFRZ8BE$4Z%A'[>P_QB5.H(RDQDX+%EW$WBMC& M2%6!/9)E`/AD@4D82!5;'<49!)V9#^3-B,N!8872:DJ,\ MAG>A_$%>4606RF*JOQO5Q,E4'[PTIP0M*G`+^2P0-QH">5!$*N=6]F.QTTW7 M38L57J9\T>?NW47[[NASM]_O7J.R^\Y((7QB\INK]F4_]3GHW_;1+^W.EU]0 M&U8:/WUBOW6+*3HBRK^.5(+<=NZN``1F:P$]K%4'\I%P(\D MK>7C9D/_A9JE_ID@R';?H<--%D'HS>(Y-:OO5K".^"?#?[_+W4G9[/6YE%2? M24FUOHJ2'+[.,$K6HLKAE>K2PZ!>U'N:#CQGD64ICLAI;<41>=[";KZ2K[]\ M694K:F6?E#`GQ?0^^"![+<6*8/UE_)=VZI)VQ$8@&8%D!)(12)L))!W`0*]U M29Q:DE>K6K4;Z62DDY%.1CH]7SI=*,CZQ(^6U9C@B`Y7`9\;060$D1%$1A#M M0!"U',2,"A?((95:8.PG([:,V#)BJS!BZR[.N%9A=[HU>4\M(#_HUP8*\)SR MV'/%V&ZDUIY01BL'!#&Z]CS[!&#"W9&X.R8M8@>LU?LJZJ'CPL5QDGR?;?V. MM3_WMDM7+]88\\@O^)!/!_`/S)NMEBM-#0AGA M[8_*Y:-**S[?721'X3PKFR&ABR8R3W@^N6F8O51O)KSDBA/"J;<`72+"D9$( M+]3DV*$?QPU)<#?B.TTL-Q"M8JCD038H30K00]G0))LEGTH7R.L%:Y!C=G7C M38GCVI4W)EVJ*VVUE95JB5YGD^F7OF+N$03Z9RK>N%40Z+^KSF%]<%<#V9Z, MP-;9K4@"8WU1*GBKR=8^II.%[)Q`B#YSUA+7K2/)N?B^NQA[NR>QMV]%DR-: M6IH?W6+CU(>.Y=LDPD5G2Q3L^%<@>HJ'6$>2DNTAC2]_/K1<`<@>:L,OA/XF M4((<-'B!^HWY,?I`6A=S<7M56LR`>]G@-OXXFF!,\JOL^79G^,;T^W MY,0JE&/D:@HV==R%LK7BY"$K9Q(,><[!DJ()] M/(XYPPZRR@)^%/.'3'O<4&TTQ.N7",1*516JZ05N/Z1X3,WN]3*@> MTSE6"#KR MP/L6XDQCVZ/0DJW$TF*1)VRL#Q7P.%HLG>DP@VY MO>%%*SO<%:J%6(`:8F."#77`U-.&XAPGAS_(WDB*?LJP?I#FIL`_EZNL0/QB M&12[#GKYNBJTF'+LO8<)CWJO)I("C<#+8@.32X.+MDCM6HAJ5=LZRC3B MHJ@_V;ZYF:&:5I0JN#4BU-SA#1,)1;+L1C&9Y3HE,G:^8_*N>ITY#.L,-(M:BU%=>GS MY"QF%&TD?55RWE+2,M]H/R0\8YSZ"IS`XZ9A?57PJ]93?'('JTW:SL!6B#+1D,4D[!5R8F7 M95J+9-X"PV8]H7>L*Y(AUZQG7-O&R557.R0X<0$8+V MY1#J<*U%-W[6]`T/HPAE6Z_3`C;TG[1JY1R[JG%4KFAV50]YRQY3U:&$+^S% M^W\K>MC&*`9MQQ;ES'%#"3AJ,W)RVM_!8:'^C3B##K:I3KF/E"BL*304;JE' MJ+MV1)@C,]!"^:6;Z`D4FU"AKGB,(9:%Y?%Y+JKUC:'TO2=DC?Q/GJ(.TI+XY M&@*]J"1=H&H24`.A.N8[XH+XL%1L3JN`G2?DF/T^L:55A\S()3=)"`MI;RNL MAWBQ91Y[O&+"BTQV/'^+\Y<2S*>X68F,#XBAE6-*2/Z)JZ'-*9!J(YH"U=NU&\BVCX)/-ST*T;X"EN] M8B@;>>5'4#1(7'BM;N+*MP;2A8I?0TA7ED/O#B;H\)&I-X)3.40W6U7'Q0AH M*JI&TTK0ET!XQ`#J0CQ0S2L<7:U4-VF#1:,'4C`(B1*#LL2=?M3JR(Y>RHG5 MZI)H;^3K0%H*]RQ^Z3;D@6\9`\[+V:(CH%4_R1+#]$2L#)7QIJ5G9SF!EYIB M#MWI'IX@1O(90'9RDZ!PTO?VAK9L-2SL;5N!H:,O-E$X^?'HWH(%BM&C1+%T M(,.8%-!(;[M<*3L!VA';=H]H^01:Z^HG9UYX:^!GP6KYG/KU&L'-MKC8&LD6 ME'807VR)L7.=.DLVVA+1$.[J(&!2&)!31[P!LBFF-<8^=5!)^CSTO01_D9PU M8`$0,8G..IZW)UQUY-K0;YJJK0#IJX567L]+CJ"SR./"):W'-,I45TQT7 MK3K/?\K30^F8K*U^FFWR2V!G<(RH&%+@'?AD&PL$,S)393.0FYQ/,YA[9,W& M@`BJHIMRLF(5%=N#X)T@WB)BIL7XC(07H35MA_,ZLHIT:71QA">7_5N>Q^B/O?P9FW\+Y' M>P.!T+^_ZUQ_H'`O"A4$E2%C40+7Z4+D>(7M$N<4Y$K82HYYO$<)>R*$?4H( M)FI&"<)92@S&"0RCR"VDWQPYUA.<@X]C^SL??5J9`QB_WX__ M-8IGIO_33_ZI,H_^\U]1<'1O6;.//?O>I0ZO;IB$*VYAA8=@(_;!?_SL>,-O M/_^?_^?__#^,_:=ZJN];(]YR1UW<;OE<WBJ'GG\B'AS?<\?%_O;LMU_\L M5_[$_>][Y9,_:V7Z]SMPA6&+,`(R^K-:K;W[.:,JM@;'8*N2SW:G>8H)R@"R M[JI]WN]\[EQU^G]@UR^)S]!CB-?0^:WU^:H]S]/YR`Q;-2[+R=[*H(K_,]!P MJ%'`4D@=07SB7D,@:G):`?PSPN M-[6'V=N&B0T_]0G65.OW51(="93ZG-FNE&C)?$HT3]$)-@;NCV$+LOA&H"%= M^I6+0SBQ^M6FDPJ[$^#1+N4:IC2GMOXGG!7W'V3V0PI^86"YW_QH%@Z?M+[` M\<_%YA#*JK9Z0\]!C`:5H^+;G/1Q3RJT>7K%+328\]3-P9=J06])C6:.%3FD M';(7J6F\U9)("TPXBS#S>+PQ02+SJ*VU0)J&'1:7VR+E1B@G>.Q>M(D0A@8. MKG6=7*P?#DP-K"70LUK@$KQE6,IST<+[J9_$L@-X%?WIB(42S\?J9`O-4#>: M86>:X;)[U^Y\N6'G7^_NVC?G?[#^7>NF=]7J=[HWZRJ$U_;F4)F,(W>8`LD? MQH#SH%^LB/6B06"/;(I]"]_H%[Q&_A7_:P02RO*%T9T;O)!O"M0[5,.G4/*U M$">$IBO>I3#GA/%\A`UN?*6?4E`S^>#APH&R$-#SGB]X4N:X8<*AANZ#B@U= M,_$&!=\E_$5JYR"&\M!.E_<],1;06)SA9!CM1BI(7#IYCA4P=IB8[!H2OW*" MXGNB51GR!R,>MY9T2F0&T]'T(UU!NJ%0'MWQ.=DK=W;P[?GBL6'$XX+!%$8> M8K/;XZ?E:(+]]O_VCT@:@HR\_@AF#?#T$(R#?#,JM:%X6,66,MS3E[2L6V!7 MBAW4K""!UDG'GP"`83V^NC:*+;HT#\BN2^QLD2M$/5%0&$C[F<)D$BO\@A,` M/C;2C7QY!^-C:SJB7HEX2.9489T"MIH.?"..,QV>4CM@;P=$)=.4O*F>[': M823M?U'L(IV@53_'2.(J$H7PWG%[\[-2LU9)6[Z[[V]>*S7/ZJE!TOV8#M\. MWT@_9.WP.,CZ?#UR8O3(SLSLSLUO[9M^]^Z/5[:I<\%T5]^6")Y25B^A4%(> M*OS/%*QAAVQMCEZ^[[GVD'VS?,O[QA,\ZA*;VD/?FTT\5V;D(!IS$-!+I;6; M0JS.O0J!L;YQS#`-DD1U=8D@LDG]`*]7Y$T"`FC*FX+CW#YV`J(^T.X5,')A MB7@,BOF\NQ>9UX0)-$>#IR/*SQE8`3@55#XJ,IVMV5=55<@64 M3\U8Y0$,,W/`11X*`%(Q#S&T%HOR^7WDT%6P:HV@*W7_L4#L&P.4SE MIG/SI<=NVW>L]TOK[D6CYE?8*F-&13G3*8@ADFWV%#'W''1.)/-O)#+W'OUM"1#6,IQ ME^U]M:`]/9UW,6B2.QVE69\?1-"9[4,Z`77Y(&Y<@W@MXB"-;+L=9V\)EDD2 MJ^3>YB3*QOV?DEZ;05Z73:)=_Z0>=PD-17<&<:-+G8%AYX[4OAV^R;ZF+,^* M_CL1L[M+T)Z?+_Q/C?#?(98]6.U?VWA'VOURTSFDF+ADK20!$ZU#LM(3DSQE M@D_!C!Y2XL>0DH+N)1![-`B&OCW38L`3VQ\IE)E&^1,8NN$3*)I[+'X8!@ET MNVH*(9LZT;4@F?74L=$;?V3O+0&S@@$KTA`3V;T&),[[P0=IPR)&.YM19HFZ MW-,Z3Z#GX#CZ/5X,)85Y+*D22QU8GC0/I2$J=!=1:*C=5L:EH"I*[L>78"(S M,\Z,@LE%U.4&P^S"#D\[2@AN3RV.Q9>RWD'.D2+UL94N&W6)EJ8!)57)L!S^ M[L%SHBE^.\"XW9LQEE=*PJSH)/%*0!/G&@A"E_BTY8XZ%#T!W7*+I8!;YZ"< M&6&ZBU!ZGH#J];OGO[+/K5[[@J&1W;[I%>'2<:L`B1[E%1T>5,F!:G`:Q\_7 M:2*2"I^W>I]3X?/A[JY<*OL_;5KMP2YJ5TZ,JF'S:N/JAU'0% M3!FMFM2WA`0#)*3:$;5!2R558R)EOW?.Q$A).BU)_GF@%=(3"G@DT""<"`=% M7*4J6)*45U+*9N1F.A?*^U3-B`8SF#Y8TM-(JUGSI'V>18QY?Q]7#.*W$OM% M?OLA?8T0!;*@Y;-C#;\=]883#U6*3,47]?])1Q98"#']%)W'K)U'?SZ@S$;V M/YG]TM?(IB!KBTG+(M:$]@0S;F2MATCOPOIKO3V;B+#%Z[<0>T=-%J4_MF3! M5R:JG,!JCMGEIA2)&Z'44JG506]FMS<T1L""(350HJJS9SMLM?(!V1@22//`3`W6NOBM?=?O]#HW7UXR7'>>+BFC MFEK?&T5#5;$[B\`[`:<'_TSX2@DK)?`SW34U=9+<>9`'11).>T]H?>,$AC'D M:16"_=PYE<>-!`#8T)-O?4B_P;H'`2D4&=47V-1T^*]45JB`AY%7"*3"%%3& M*+G]B!,W<6BLDL;.HE*%Y@^-I7:)STCE[9AO0ZIC&J'?A'X7SD\!@P@:,4D# M*PWNXW9E"XF+?HDAT+.#A2D@JS%"F"0!ZRL[Y2/;2@\O M"O2#:#"U0V4;HQ$P#S/WGNZ%9$O*69S%I[\_F(@>:MK\T_@ODI(/F61@D7'] M=X15HP>S#\^2_4ROBB_5O[JDL-SK5NQ@<1SA9\ M)H!.$D[3^QDG)E*,8Y-ROE/MR/MT29:T-_:IPO+17=P+N<2DDRYBSB-LV1F$ M4FC&+]HN,+"M2QHD:8%T*E:O:&A*?9$I:$S=>%'O1Y;"Z_18> M*(SR"#.U7(*EDC=/]&H?44T26\<5*5PCT8M=`4])'M,SI@*=_^7/8ZPJ`3M! ME*O@.T(*(R0A>LG2.PST,_!V[JO7TLM99?Z[3,!KB?R[FP@Q/V12'86F@VZ2 M@-<:8;Q32HY-U7OM'8M<6SPA$L'>8:8M;*H3_->[SLWENY]/3\OP?PE%6TYN MOS36-1KK&1KKJVELUO=!XE(S;HO-:FB$?.U=Z%24W_UK<\:S."C\G&YLCB# M+S.1WGD=&LO-\DF]NFL:;WT/:Q"#2]^;7F$=A2H56V>K_KSC#Y[S@*$^>@8(H@CW M-8%110&.D/ZF]=T.,L17ELJ$2J/6A`5+R%XXX>=2EMJ@G5!674K9:;V^%5UQ M64C2&>09M\?UPJ(D!?:_^4=V>MP`B[M2.2[KM\;[-NH#+$.[7]=_O^GVVZQ^ MQ%2-7J?=*[&;=G_>5DV_=\=^BIQ^<1O@[#+FQU*+N[C`4'I:(JE.=$F0D=G@ M8[$=QQ=T<`FIH'75^7+S\8J/$782/^C<7+1O,GU0,SUB]2:Y&K'QST_1R9(M M:A%"K'7;@S$Q0]J:(0Y"][?VW>55]_>/#)U->-GJ9K79]$HQ$5_-(FZ!6)U] MU[Z/VY-JI+(AI3`H_NK_<05S$R!:F>:)A(=`:(H^K1]3T(]E^K\Y#OW$*%WD MO'6EAH(]`>];_O!W.4=P+N+VL(W&3RGQEL,!JWNO%I6XR@YH>YS8(3]"SN`? M7>_1MV:239]-[P[H`P*1JV%V+MK666+Q`B8AN%8NF?T\Z/TD*`QM0RL_[H;J MS8B-%"XTZ1V62SR6]WDXVX/ACBWHB1)05' MOWN;*S6V/L;O(]>*1@A!]\%L])O>Z!]^FXW0/ACB=G&6"TO;BH/Z=@@UF_@& M"'U%<>M0$'WS5?C<.O_URUWWZ\T%+,5PR/EX_%(2^!*3T2=\Q+YXWBC88N]? ME^:I/1HY_`7/=,&W.(?!VVC"V8>SEC'UR5JJ<-`]NI_?(V`51X&/ZOY=2X$ES1-MEU$3" M#E^+*;:F_#"EW?XV>M?D[D_L[7$-2;E<*M=.#V[##7\;_EZ'OX\.;JO? MOCI_67\\4>=WHCFB,?#RR-WL6KK@?/#R"[)$7A9C17)DX_O:::U4KY>WN0\R M)\*)[1`>$`N?[5;@B):C2O=AAJEJJ5,JE6OW5+AG,\3#'HR"KDYMX4*^?FL2#Q>9$`OK%YI[9%0@"O?@-@*$M M@S29Z]LUG/!1Y/#N.'[J7``@]O'%SX%"J1<4"N5=[O8^_[W/PZ`&UF$TTBCL'<>#:K%WR+#31!)D/`8&X< M!+F&L3=F;(.Y45`%;C`WBL0412378!(8S`W#WX:_#>;&`:AS@[E1&(XP"`,[ M6I"#1!@PF!OF1)@3H9\(@[E16*O!8&Z\/BL4D5P#,V!@!LQA,(?!'`9C)!C, MC<(PA`$5>.Y"O)6;58.Y88Z'.1X&Q3LVXD,;F"1`XGX^@;VNG2;S7##>]M.J M_5FKY$WK9.FTRAO/Z-;W9MP/GVX=RPU;[JC]=V3/IO!0#OS(%C`BS8+"B'P* M['_SC^STN&&[K%(Y+MON3E^_%'DC"'W/O5=LOPJ'XZ;;;[,&.V*W=]U;D"5_ ML-;-!6O_S]?.[77[ID\G)P7.D7[]CK$Z)!6+Y=&^%V\E;$G>;W:!*=1B032= M6OX38KK,Y+%AECMB7)T99@?,"B38B\%W,?@NKU>%7*^^Y2*2MU&QN)B^G,W[ MVFM??KTR&U?LC3-`/#_4?AH@GAV&LHNT#D9];G%J#PBC)6=[KSJ7;;.QA[ZQ M!GS';/(/O=!YJO/%9Q<`PRVA/2<_-SJ::-T8O#NBDZN86O#UF_#=MM? MH7N>[789^:X=1CXGXVUL?\=_OYH2+V)IXPL;;7O$Q\HSVHZ:KVNVO84=+\;N M&@2X7$57+]4JU8/;;L/=AKL-=Q^N$?>R`;C?+9]/O"@P8;QW,?;V8#3<"P?-F8X`'[D@4R)`NQO3O/>C?;^PK;>P"8W*\=.-DE3G>U M=%:I@38TL+,%)]>:4+#DEY7KII&9B M\L6S(4VT\?59H8CD'JC56.SM/<@F/CL,N/QX/7YV&8JI-RNEVMDV2(_F:)FC M98[6LJ-U6J,?IZW+L_OTQ+,KQ(PNM"`NX]]GW`TX&WL^"R<< M_N-SSJ;PBDG`N#OB(X;-'%BM7&*(-TPIJ/HG=?9H!>P?N0-OV8ZHUBS59(I* MO'`X[$X'J9[!()74("7F\V#&AZ']P)VGX^5\M?H/$AZ%[CJW25.TM1NJ/:>- MVFE!VZB]*Z1H,9VZ3*Z,::)DYFDW_H339Z^&"(>P/M"4RGKK?K%9E. M76:C3:=N@X&<,YTZCJP_2[&WIJ6 M1JD8K&EI=`CD&K8V;/TV;#?3J:M8;/&F48)-IZX#(?<-(>&;7D:&NPUW&^Y^ MRT:NPG#$FX[!F4Y= M2\DUJ*#/6I"W$NDPG;K,*3&GQ'3J.EQ[TF#GOCXK%)%<@YW[0VROZ42TOR4R MG;K,^3#G8\/S83IU%=52-)VZBL88123W0.W&8F^OB:.8.,J]Z=1E3HDY):93 MUR';D";:^/JL4$1R#]1J+/;VFG9">UFG'R048SIUF:-ECI;IU%6L3EUOH!_1 MYEV(OOA>$*0[$+6"KKNP\]#9.Q:YMOCEU][%.S;B0QNX)$#J?JZ>56JUQND: M,Z5QGSW+VI^U2LXL&^7ELSQM5N"AG<_R:\#'D7-EC_DZ+9W^C"O1X1V7L@[] MFD\'W(\"'&CA.)^?^D\SWOIN!W]>VZX]C:;Z8W>6>T]?9M:D\N[GV\8?:Q"= MD%%HRJWOZU)>!<$4R1->`Z%I!B%ZR5;LENO[\ MG;[@@[RV;ILW:6LT"MJD[5-@_YM_9*?'#=MEE:NR[K#T`-1PBIGU'^S6J*^G0C=9[E/C'_G MPP@O@"T6/GI'6([`6L.A%[EAP.[XD-L/9`)>\=$]]^%W5[;+L7_@.?QAAPQ. MN>W8X1-[+W;TM%HM?W+D;X;TF_B+RJ6_XU]MMQOJ4?CKU)/ MP;OZOO=48M?V<&+?6RY[G,"_J)5HR/VI[=(E]N")]:[/F>>R_XZ<)U9IR(ZC M6%SC\YEC#<6/+/CKP7,>0,[*.;*QHF,,YCR[O3D74[NA"W'+8:T@\.3U^(I& MGZ^]Y>N>K'4:T:[Z30>A.V'#<,F1J](;3^L^`AV"W$1K/;'\>Z`)VP?;B>ZL_L1G!3;K1E'D/7/2@G?FPGN(W\.`, M?%X[F(B=QJ]_MQR']4*?\Y#]MP['KDQPD^@I^"SR;:N8JW.3S` MSX'=&L?5AC;V,;N(?*0HTP(7?V%[HX6-<(D;]>-GN\/(QV-EJY54#7:!VIWV MKRVGN&'W_7$KX&Z?I,9(M\>E39^*/0=_TO<><7/O+=L%HN=YYYCUX;/LX<1] M"D!@X8J1),&MM8*`PTOA47UEX9>/G+Z%:5".R]',PGZG(S!L6!"A3XMB`YL: M6_>P@V@.P6Y[H87VUXZ;!Y<:Y7*I7,YL`LF:.VL*0O5^$K)KR[7N:1XE=A6. MCH$IB"2Q;#OGB$KIY+16JM:;\YS1"RW?D7/ROW$ZO!<X2&XX\ M&"^TA[FB;>:@_H0UNYSOF[V]T$A/DN2J'$@;.]CS/NU=L-3A\"R3+#%3X'^! M1%=2QHO"((3I(/,NT$\D->97G)HBLEI%?)2C[PO5G_W@3&FRKL"(9C>M?J=[ MT[IBK5ZO>]ZAO]:UK-WQ8,YSOXE]F M+/-Y\UM9MZ5<\S9ECL-/4\^#,10FIC293-_M@/1#]FPIG9HQ^85B7SA;-B'1 M+L0C+0':]V@5V;X\R+L4+OJ&-.=534J&.!X8@@/+01N5#<$.]-!:&W*^:X'7 M0$MAWEH8"9-SQJUO8`0Y9*4$W`I@208\?.3<9:WH/@)SJD)2[`)4``:10)#1 MWS9JI%%$&P=2DDU%.&KG"J&9;^RH.?ZWY4;8@UY,BC:@5CEF7P.P?5@$.E`H MR,4<$DQ0W6JKCS\/!"'X3]&\'I_,GI'/9'?B-Y^M@.N,7?1.]ZG9+;[N*=8\ ML[,3ETGYUY;EY)Y/?B,@'+3/,=!U%*=351H_?6*_=R[ZO^#X>`^5XMESL.(' MOET*+#1J4K^;U!/$XKM'=>L: MKX3M9G$LZ"-):_FXV=!_H6:I?R8(LMUW[$'&&T-O%L^IF6[@D<,PXI]X+SMY ME[N3^;>H&U-2?28EU?HJ2G*X.<,HV7AS#J]4EQX!]:+>TW3@.?DB4<5K3VLK MCLCS%G;SE7S]YIR%''V'O4)C"Q5RIG\GCQTY>^-K)"7P+Y! M'Y#>)[V*@178Y$DTRC!M'[PZ<$3B-Y/Y,^1^:,$"HM=BCW4G\>\(MF/\A$II M#,]&1'^ENFA\EIYG3?\=S@5'Q-]]^`2N8!2LSVU+L@->@S(`,?V]]$')&+!GW'LOR-[)+QI6``0R3/N8Y\S=''R7_8>[Q7`$4\^ ML68SW[(#RT$]!N\#+PB$^M1VC50W4MU(=2/5C53/E^HMNH\YHHO=?\A0%!M@ M\I(1GT9\&O%IQ*<1G\O$YVSFV$,2%#Z'ESW0#?+0B>@2Q&(CVXG(LI7?8NL) M,%PI:I&$;R@E*XQ\5V3ZP!O4:,?L(CM$.NAA/5BV8PW$ M;<`]=[E/V5\4`XE-ZYP@T(K$K6<)_N?&V.$LUAIZ`NJAW/JNFN?RVS[!6#S( M7-P$T>#(L:=V&)B+&7,Q8\P"8Q88L^"5S8(K'H;<#[34;U#(`\[L(,`T79+6 M(K/@'S65O[!/A6L\+2-2C4@U(O6`16HGB?7K'HTN2NM&E!I1:D2I$:5&E"X5 MI=>6.[)(E,ZLIZ.1]^B2^*PH\\^\JA.4DEJS(5?Y`F3>8A%TK8WTS5AA1 M$1BEUJB\U4L^\+7$U=;,MQUXH-!!IAA2U1_@2KV;(1#'EN1$YKHDXD^&?UN]+O1[Z^LWR\15DK6 MCY.\]C&5RL<4*Q9RD:)5.:Y\K$AZA;P_H\@J3BT&3X,?TR]#ZSN5GXJ&X0%W6KL0EX/@(6!>@G&8PJ"POM5TL M7.8C%V9GG$&C+(RR,,K"*(M\J)X<<9V*JE4:PBE$/`^L,?WQ?+C#JY[.0LTD M'F`&D4@`QP0([[+TK&T*X9%:DCD<&JU06N2ZN*X7D?&@H=,(R!*7>3/*;AE+ M+`A5`HX9+@X?"C@4!!_`%/.:!(D81PXXK=8@\/P!O!5KN*\ZH&78';X9:WUV M2BZK'3<64BSH4$YRC,ZSS^6.P7XL+3T)QE7@#S8N.8O<*,!,H!C,B6OI2<>U M9B.U;X*1Y#,SSZ=-D?E+BP,,`GD*QAM:SE!V3\H6@EFL)BK,1`F[VFAK&.)< M8/"!*#:@`!-WK!G.0-9HSZPGHBZ)5,!1L7P?&X4?)^=[*0!1L"L$HK/2R8EX M\!_E9^+Y['S""_8;IWU2JM2K"Z>]Q:Z_"N876#<_0$I81GS;"<+3`(-T/K`3 MB%#/I])__$;DC0EF)7`;=(_D!KK6%!\4_.@'FD@&_\N5F8$N,7O\IX"/TO"B M5@^Z8V&'SD=6WHW!AQ5B`O[_HPO$3.Q9>@IX&M!OA+_B0M@8C@,><_DCQCD] M'],*9VE^-0/P) MB'?NA@F=&,D?BG(I_(B#F9JB?17^""H2)_!T)K0V0!`3NK$(^%GYF&/'($<# M8G'60ZV8SW_MN3^%96/7=3KE:G<<-(5@G,#6X%/HC7#"0 MVO_&S596`8'$2+:*]^*8M<0O+27CX]?(X#_BZM!RC.=AN5:H)(0@VRWLRVFI M43E+T[YS,*WTVF9PM(JM-=ZN:]-"Q*.AAZ[J.K9("7Z=L5ORLNUS9!:=],5X M@_N&&ZSDP0+A.0+:L3)``1.Y'GHTT@Q>,><46E7RLQMXA8[O(Z5^ZGLV0)-: M"[N&[&3.RTFL<)B0@(C$A5$1A/=)9402L94&!KWU0TS(@-_;KBLT00S,))#` MCEEO..&CR.&C!:]1HZ<&?[31\'%A;@.J,)[:(:YA-*/*B2&W9^$R!B$S&EZ9 MD$C7IK;`M\)*C3$X6B'_E#*_)Q;QY)0+*W\Z?_&^TH-*W\R31)($5*NB5L<:>(@E*\JW!?`T5HJI$Y)UW%&5$)GVZ M]BQ-FJ7J::VXVO)`.ZHL0/W/:P[0`4??CY#S;@4#]D$"!6LU0@!.(49)A#F( M\E1;!*&[;O$@]WW+#<01#SX_Z=_D-#XX>?>S$?1&T.]#T*[G-P[`/EB&P9YLR`;+K'8HF(ZFN<_U MHL$551X^;V].I2!Z1N4CTSP><9S/RI5/;+M"G/A5;*.L<_:*B97_^:^--FF= ML_>\/3U[]_-KHY0FVVB`\G8#E"=Q\C)'C998/W4'"Q65D+,:%T7[[=L%`5BN M-C84*.8+*A&,$:A"=%2\5?R3V;@X_5K0V MDS-8#+W/9./=S^7CI* MSE/=G^YV:=(3D/%FD3^%K8LXJ7?0L-?6DVI/6!.KE]RG4S\05PL,Q(IZ'VEG MK#Z7]H;V@,[^$QFJD$E\P)&@\L`V"@1+\IBO+1$X`PM!VLM58K(G$0]:8DDG_0FX&9Z`=L]Q?4Y=)).=TG:P_=GFJE9J;;TR9A][>2 M(K7+)4U1N@F?)9%@X.`!^%26L*R3\(;CU=\#.^E#SHW%^V;3%%#IN!C2<7+?YSQP0GHPD65+SG?:\L5#WB& M=3#RP?/NU57KM@>S'J)HF@7\$^O^UKZ[O.K^_I$]@.,.TTF7O2R>A2PBF/O! MZMH765_@P$KIM2]J'>(2GNKLN_9]7.V@+38;DL&BSD;_CZLVEA_YX)XLKT/X MQ&`MNG_RSG6RTDMSTG]IY0!G\.# MJTLYBDI<90>T@740\B/D#/[1]1Y]:Q8S4\ST8L:LDK!;85<$MAO/$=`#S%R= M6QZ4P\D2@4!._D`Q;/CA!^,'TL(:0U0,0\R771DM4&CB=G'J7YFVE'$S+UVV M/MZ'M@YFC\T>OXJP=LA!VGP5/K?.?_URU_UZAE75TMGI_6#V^8];A9\.9U%^1%_*#- M%F1_PG6/JY0C7(_,Z3"GPYR.1:9'J=P\-2?D!P\I'+"O\8.Z5EL'%7>\&@5V MP;9>(A-W,(?#'(X-#D>]5#ZI'ARWO'TCXF5#%9U,8;D$AB&H)X^-(RQ>42!\ MQN(T/ME+^F3%6)$` M'*Z#6(X1&5W15G1?:93;;A0KR96]^DP-J<#7,VS-G0ST:""V#.QIQ]L?-.9`M: M]OV@I?MO#-\G!P9\91LF_9-Z!KDF0601X,P**3&-#K%[/))Z!N%FYV`DU68S M-<+S$"Z^6A:$34%:=\>7=)MX+4S^*]QU"8X<`,M)T#SZ..CC M6,]!;*L5%;%MZK/Y8T!\&"L;P@[X\!@IF;W'U M(JV#T0+%ILW`A)@]-GM\Z)>@!@KF$&[,BTBN`4'%;J!@WO*]M2DEV=&"O)74#@,%8TZ'.1T&"J8`EDKO6.3:XI=? M>Q?OV(@/;6#2`!?AYTKYM%I.R%EK\%W-N/9GK9(WX\;R&=?+)]5GSK@U'"+6 M3'`K,"7@3S_BHRO;&MB.'=H\:+FC;CCAOO;1A1T,'2^`]Y]'O@\O?@[:R$E1 MT48"^]_\(SL];M@NJU2.R[;[FQ M?I>=?^V!XFK?]6!.=^RNW?]Z!U^T;BY8Z^JJ^WOKYKS=HX.)S7QO%`W#$K-#9@>@8D,0#T-O.O5<-O9\ M[3WPM#4<1M,(4:/8T.F.N:,6-G3:J7Y*6"!Y7`Q.PLQ92QW2`/> M^]84WC>Q0IH<+`K_/D0Z8/*1.[/L$7SVX-GP&7YI27D"DQ]R^P%ERC%K.8Z< M`QM8#KZ9?AM/5YM'W@MH8/C3L8+`'ML"!4L]4RU_TE%SX)MD%7!-Q")F"(M' MK%8^B9F0'&-.(N28YPKP'<\=<3?@HX0-X2,*X!`@ER2(!1/.P^"8G3LVOLGG M?T<\",4-MJD+4B2>RX63T$$98E@2^?^^P08SX73$>\HS@Z8 M`#<Q,J.U-B$ MCB2FGW!<:G+>`_?CYW&F+KR>CQ:SX5JH3%NM_?P.YO'Q(X=)[A:HK5RJG512 M^G(A7'UMY7G!A!GMM,"O;3^/MRS@I0A> MG'Z=P,W+VXT=G:=M<.F*;[GOU@:IESS'@FP: M"W+>6`E"WW/O-S(C*V6P(\^[U]>=_G7[IB_,Q7/X=>?F2_OFO)-G,::'*90Y M5A2S<;.=N&I_:5VQZU:_#\;[0:WWM>5:]T*W@VTJ+2KGB:Q4ZQ'5,YH_[A,8 MO_>6(ZP*CH(L6"%5B[5!R]CJY7='(?C]!0K-'C_%"F$SFKJW[;L6'G,&4^L5 MXYPOHFP5+?T4I":B[F)F+AJ%H,\?++!@HP`M3U]DYXH;,^O>YUSD[:)!X(W' MMC0TD'$G\`AG8]#"TC6`*5YZ?LBNK`@4^@@/`X$_!;)[PGVB,@_5]AT<'OD=#G::Q*9`PX0?O'@NX MT2B!G[1G&[-R4BO5F^7T*!M``K^V]"N*MEDUSP[X1F`^HB65NY)>4.LW&)BW8:T?ABT M\/<%(%8]?2V4N!<@[L"P3>=69`?;>[8<"*^K)&^R+N("Z(?=^1?+")M;A1=* M&\\[\=AW0IB':!TB.^SM#G]/9!Q@*(A[WE]>4 MQPK*FG\M1BAB9E,1R7UQ2.3=B+V79>8#WM^W+]=>UNS;LEO!FU5N123W$`!A MB\33C7JS5*OL,0GY\-BZ(++M9=4^V90NYEF;M1:Y1. MJH:_BR?D7MR`:QI-5VQRWY"0>UGFKI\V2R?-/99:'AY_%T3(O;@EMT>8YVY"JGI."97K9>JS3W" M'!\>?Q=$R+VT)5,.570/+7#@*0JZ.+E2MG2::U2:I1KYG"M!5KU%NK5-ZLH MS]:C+\"IPNH[R]&`JN+,^CRHJBW*U$^+6J;^K&(C4XUEJK%,-9:IQC+56/AO M4XUE7+Y[4XUU<.2::BQ3C?7JGMH/$TUUJOS M=T&$G*G&>J-"SEARIAKKU?F[($+.5&.]42%G+#E3C?7J_%T0(6>JL0K"#Z8: M:T<+\E8,0U.-5529::JQ7I\53#66J<8RU5@%J<:B)2IT`=9.2JBR=5F9'^I&_*375Y5M3.:UL14T\E>V)L1\VWIK:*][9H3WG#P\TK8)LG2V==:32JU<7G(3WZ+J9:UZ9:STRUN7RJ)[5Z ML[SE5'O\'A?\CL\\'Y_921/L9F&KBP^M"7:5';$O[>Z7N];M+V@@LL[-9??N MNM7O=&_('CJ4?LR'TI$T]S<[Z13:6`N!_:(VE%C M`]2O<,[YB/5"[,*;UWR=PO>,WBB)T1_WUXT@)?;EO]TS'HT-GQ] MS[U[WYI-["'S^;WMN?$PJJ7OS.9[V6JGCZ51J/4 M/"N;,V+.B#DC"\[(D3D=A3,G7C8J<,"NQ)LM2GLV!_S(16FOMWBYUPKUDY/2 M:7.;O!9SN,SA,H=KZ=5&HUXOG35>#6VGB(=KW8K/'RA]^UGS[$^XGD-O^=S" M['V1V_]H!6Q@!7S$9KX]M7S;>6*>2]GUCC>T0DRW?\3:+)%P[WNC:!@R.V`C M[M@/\/GH>#GUAUJDN[K.:'%KQ#O^P-V(!Y=PY-K?0^Z[EG.N*BA:[NC*<^^O M8/5&K2#@8?#YZ4N\/9;3@OUY=K_$YEE1*YJ6LG*ASHTI@'E#$M04P+QZLJ+) MJ%Y!VYNOC3`%,#_`)IL"&".N"T^<*8XPQ1$'0)O9XP(+ZX)?*9L"F&)<#IHZ M`5,`8QC;,+8I@'F+^ML4P+Q9^68*!$P!C.%OP]^F`.;MJW%3`%,$9C#)_3M: MD+?B^9@"&'-&S!DQ!3"'9DZ8`IC79P63HV]R]$T!C#E;;K MTHBY(@Q,FI>#?/&\4;!FLYT_*35"9D9<\^F`^U&`;Z3$?BP%24WDNQVD"RY. MEW<2JY6;M493:XN4-\^=T2*NB;:A8GD+L6JMV2B_%!$4)!,QLFTH6=X^K-)H M-,_*>Z,DU1SIV:RUO'E8M7I6KC9J+T3+]JRUHFU8H]XLG[P0$<]DK>7]PS;D MJCONP*BC6\L/G_J^Y08XBN<&.VEL=7I2U#*PUVQL-5"J:KV>5C4F]78#[(*+ MKVW6[[)_L*KM:E<-.'% MQLIKUXU=1#Z8)U0!-Z:VH>P).YF*.KMKRQ].6*TB"NU*S(M\-K-\.-9P?J8S MRWTJ8;6>[Z"%S3HNV2!XY.`UOW@.&CX!N[*G6-97HOI8>-::PIM#C_4F]B2R MV`6<:<>;H:Q@Y^*EZA'V7BS<:;5:_B1^'G]0^?2AQ$81QS=9,!M_YOEP^&&` M(/2C82C)2J3`,6L%\$OX/G)"57&H?5]2$W*]1S:!R0?YZ[=M0S"P&U/<\9.: M`ZSDU'-A#!1+\-DWSQWR61ADUC-O3=1/]54Y9K^J%]A(\-3ZR_/%VY$J[JMQ MS]4.>H\NKI4UF_G>=Q"^(7>>=DM[_6R>=.2E8`+,%.!?Z46(PB"T7&0?+*"V MV#AR8$HCVXEP!096@)318A-KQ*RI M%[G`=?)0^D(9H[P(;9BL+2KAU:]@A'_LDL?JI7K]I%0^JZ76EN:]ZW$JY=)) MK9D:IX1R9<9!D(`P@R,%U@7P:$@,/(9)`/5PED$T'0U`NN+'K@?":F8]D:\) MRW5G3>&(HQB]MESKGFPG=@7>^JX7JE("250J9Z31[AGW>]SAG-[@$ M)Q]H:!#$HW@]!`\E(`J)LK#&8]NQJ3P\Q4\[7Z5:J?9"['16;93.3JM+V.F8 MG4<^*5U=0V=6+)Q8(56LSZP@I/5#3HOYCN&WC#0D+-4N*3C)B/89:!C+=:,I M+19,=Q@)02"A,.";@5!"(^LI$!IP-7DZ9:#)AT,_@E?&U,&[8[JS"^-I)HK& M/VB-[/9@-4JG]>J>^:5:JC72HF=]G`2<#/IL6>[:@;P?^][TI27^6;U4;>Q[ MOP-PV`T8NE)TK-VQ_'1Y0^T:B'V0^LF<5PS\_'G6_JQ5\N9YNG2>=5`;H#6> M,\^^E_ZQ5#(M=[35NIXM#Q)6Z#(@-=]U)K"[>2]8Y[/EP>;GS[CC#C'4SB^X M^-^."]J+).*M4%'PM-1G5[8U``%`PG.ML*[2:ZU8<.@QN$7'[?.3_LU\4.YL M>>2ZT@`UERS+=O3M=94R$=7_K]#K=F]Z\N98>Y47C.YL1N"PJ]8I$K`Q2@24=1KZ+.(KWOC4E M-VC$Q\(X9_=X180!4)??>Z%-?LFC'4X8M\"GD>''QXD'9KCE MA=X1>:(4;CS>J<\=D&=T)KW##PS6ZA[E#*+<,2V@G(Q(L['< M(==BR]FP%B/O`>>`.!;6/4\&K/Q$(S9^@K'&8_RU[3YX]I#".O#?0(9C\PB_ M$,3B.Y/1)3AFQ@]B?-"ZGA/:,76QPYR@^/H*5"$(9=)E:3^#C`44DV4?'-$LUJZ=%?`D_=Z(1 MQ3#8HQ3Z.`=$MH-55M$26/$1=P,:T:6L($N$P!V:=##A/+M*+W1461FE=XRP M]Q>PM#U^>K<+L?,"_R6B1%^?G$?O`'0J;VF M"Q\V_&&UJ>-J->:6HX_A[&1-KLER2?YN8X#[AV6"MP6/:$[Z%B?]A<_QUIGJ MM>7P>7CME*Q'K5PRVVVV^T?8;B/"#X8X8ZRM.M8&D/S'V&0#2+Z]N"XX:D2> M!&_'\<[<4),>>K4PT>7>=ET9'!:!Z2W8YL4"" MM`D2O!;;%!'KH(CD&GS3==8@1RR>-DL@&0]NOPU[&_9>A[T;]5*Y_&I*OXCL M71"E_[(!AKN\L(*>YC+Q@(:M+GK?K'5H4$MWM"!+9&DQ5B1';KZOU*JE,-5,99C;95(85X*[55(8=[&U]$F#F9'"W*P=3"F M,LR<"',B3&58X8T)4QEV@(:H*5\QY2NF,LP<+7.TBK%XIC)L'Y5AM$2%+@;; MM+1KKC0L!/O'\D?9HC(>#'U[AN&5+8K!FN]^+E9;NYQ>=J_0P$[;M96KKO8I MF(ZF:S3+;G_'%G(P+G4F[OK8;O0YY7RG12WG>\UNH0-U$-=K%%K7&X7>M:]: M_?8%*)B[_A^L?]>ZZ;7.^_G]0N-Q7J#,[A-;MJ)K4[RLZ*XXY*RBXB+RJ>@1 M>SYB89$4)N@%@FC`K'16*Y<8GA>2"/HG=;T@$_7UB/TC=\PM.P2>U$MGY5IJ M=6D..QVD5CDI-<[JJ5%*(-10&J,LQSFOW,YS/+ MEETZK0?NH]2_][V`&H6.;>SGZ=\#'X$2Q-Z?`1%_U8Y[@&[!)(]6D,^*VS:. MK-2/FZG]$LIJMV.<')^DQT@SA5A!J>>(Q)'OS>)-@%4[]X(I_O=T&@&SR&L; MT)?GEFN-K!2[T$_3#+.HU!FX`G;H"5DG].U!%,*^H'8.@UCITN`TR#';\?&V MP$X!:T[PUF[/8:52*YV=5/=\VBOE2JER4EEVVC'V);68\-1 M<&T+V];RB1<%G(W!X$6SDW@"_K:FU-N>/7*?)YUN@44L,$O@V+IHQ<$PV$47 M_U?8@;3`LAK=&@[%LN/F+6B"&X3P/V@0$E=Y8,4)'GN5=KA&IVI4Z'V:9Y$_ MG%@!27AY/)&I@4ZF,BJ%2F4Y)#JY?!0 MGOB67L9B62"$-_+P;A5NM73::.[YG%?KI>;)V9)C?LQ6[%)F8\[A9$6@9U/Z M_VNO56(==WBE:KF\:J.,4-U< M"KUNB_'J\!""^P?AU6(_\'9OCX_NF)41B4,7P_#*$*T$K2U.WX.[!P2\+F]A[L$4^>*[%QY(QMQ\%'2_1;I?>1 MBQ(Q#D>W-[$GD<6L,?S>)FX2_(;W:O/CI:RZ$9CP.)ZPN8_9I9`$P/9JA)(F MBTCLI%[&)A8&>I!&&6JRIX/(#WC*A,-)6L,P`M,M,5ZH*(]YPV$TP]#3X$D. MG,P=7)6=GOKR),25Y[+AFE M,>5CD)R!#!!J$34E`A07Q$N\GEF,4E;8Y%*$P`H/.3`D2*`9,,UWNE\%XW&W MXO&L='K:V+,,7BE[8_91*>UZ!<+I4S"@)WDW^?H?A..%T( M;:5"Q^!9`YL_A*K9."9<&)K`J(XHOX`X*`V)27& M8MI:[->-V$_$_H%(_--Y:3^S'(<75-*GEC`6]'N4NKN7ZO5:J9I1'<\SJ^^Y M"[:P(U*'1E/;Q?B318=3BN)@N9V="*7U#&Z8GRZ5<13;%VR0DN2-%?+ZP"XY M=W'YE;WP7/"Z+EY0WO$'[D8\H!=H0_T.XE)_;HL+M;-W+')M\<37WL4[-H(S M.K6<`%?IYY/Z6;F67`_N8HXO2'==H[N>HKN&M_9+Z*Z!:WU6WP_A<\SS!2/[ MUQ31OTUN>3?=REJYHI$T`_;3::J]^[E\7*DWZ"D?7?#K@?A0@=RP2!)^?]&]:W^T@LP:UI3Q8 MK3=/SG*68$VB4HORN[(K>FA6P,K="LV^!I,EA'\-+#)L6NZHQX<[68%Z>@7^ M!,WR9V]BI=D!UN)4KL,".N9E"AW)S`*AT;0.P41D^DH(2.^XNR&YL733*Y7: MV4E5%SP+*'DNR6GFWB_))\M)+E3D\;I6:UP*[5`2^QWI99;;97&V6FU7'[^4FG([D-P MZ.BI2\Z#.^5NK<4\?$CB!MI(H=7GTO1,VC/L M\&*T5Y;27EZ?[AP]V_L[@K\O/2_\S7*B+4S32G7Q[,C8*Y^=Y&KXS,CS2D^+ M*TJ]\?(VS9^]:!#POR.80QNF$.IOR7S5?YKQG,U;;@A6*$%95Y#S5!=S93)D MUM?ET1U3N$!$[X'"Y<9='77]9E2V5%KPI>=?>-$@'$=.:TCY:/+D8E3B//)] M#+^DR&\%77?A@5QNDM5/3LY.DXEN-(E=4U"#V>91L-RJJC3KE5IE1R3<^GS, MX1L0X-[P&^Q]U^]A1&Q$0@F\$')9-EC]TW7YUIK&SR2]:^+-7 MFSS])&A%X<3S[7]G5?"R%:_JID%`K]%GV[FY5&)VX92S@S][J@O6MUIYE:EV M@B#::$6KJZ>Y8H)BR&=-;M$:UEYP)`0?/W5JH_BF>/W>L(&BEC"YU74%?=<^`D#55R[.IV4R7+YOF,TG:W09M9@%L2=)SM=;G;2A;Z\ZD M8%IK*T(;!Z2UMB+P9&U+__44UU:$-5^N,J$EB7'F-/'= M//Q?KYJJ_>=6[=?THOV+KVUV>=>]9K+4T('G^X1AXHG\SL5SH$HV@BS!K'K\W_<] MSMF-%W)VHG/95>>F3;70=^V+3O_#,6M1^N=\.FXZU;.D$4&@*EJ>[D&EYU9J MS5*]LBP_M\0>)S:0[O.D537M:9R/G-G2O,VD.HDA#VAQY[;3NK=L-PB7[^D; MS*[=0"%E5?25[8*B&Y_3&FU\-59?<1G;J#7+%2TU-&^T+6>T(`A;7_O>=)VY M*`"D"S[S`CL,-E^@Y9>QLTDORC>O+,Z:VFB_)J>R7.S&8&^6B&LQ;3R-C(Y)->ZI;&^=? M>_WN=?N.7;1ON[U.O_="MN`S"3^E!!HQAY"#KDY`$5I M`".R&;W(!U-O:$4LB`:!/;(1X@:#@(WR3_/@<_#?'D$DQ9!XLU/W$(F-0CE4>%7@ADPU.[!:XX;99`R+UBT2\:DR,A M,H!!FD0`K5&DJ(A`.T!]>0LVFY3)S>1T;OCB\%F\?8CQ?$W!T) MSK6Q=*Z\^_EE6%[1OBXM\R":L"Q=PFV\=2RW+RI5/B.N0DH7A]6N9V"`.&G[&J%[UW6">J"VDA(N@]!2P_ M/R4_`?,4/VH]6OY(K*\>:KR)D.SU78S&&FDGS9/T[<'.I_NJZ_%GAE/QB.G, M@Y_=6-.<9.+&.K=*E7+U91?O(J^@9PW7,Z\R2<#F[:@ZI['<&VN"LZ^58RTC MXYDDZS<%>R9YN0-7?A%R<\2D5A4AXX6[(GA%N4RS6G\9HI,]WC_1)\NK8;8G MN.]MOL=WUO0*J;T&/A8"95=4+J][:9S6JO5FBM0%TW\6HV#>.T.47'+P4;[;+!5ANZ)U63IJ-VCH+D")KN>F')O=:53-W M*C(O3/5+&9?7Z4Y_DT-?_=W/MW!J+Q;9;CB9['2O;=?SX77*KNL^NN`2@/>0 MF'6?GY!:H,'W'`=F*'ZR?#L)+$?;0B69[*D-RRFH&G'[BM];3ML-\^EI+#%3 M4>HF=&Y-QQJO^3VSI37!!;\QW"9R=BBS=WG5NSCNW5^T>ZUZR M\^Y-KWO5N6AA$P#6NKE@GUN]#GUU>]?NP2K2-X=R;=^GN%@NC.C8=BUW:%N. MCF\DT95BC*1(@A[IM]BR,YN"]'ZW`'AXM(<)5K3!A1(U'@=WBERK6AD+R1Y(]1X@MY*IDI0 M]0+@C<;T1]3#A.)>$HW*(:)!@.)MMJ`>)S7S8:GM&:+76[,92!^*/8:>6"][ MJLW5=A%CC.246#8*J/T=V7X"2G4)OX!=/_H?^D4+%/X07E4#Q&[`;NG<-#OL9N)_[ET:@/+H=,43#@/T^Q'\Z5[CX0!X@L0:G0`$\<$%)'M M@Q)!BH"U=S[FS[P4IY;K(E[A':<0.LQ(G;]?!47J$&_"<<'$BYP1KI?/+1H= MGODK;3H MJ%)KUBN-Q??GC>WH9F&O_N<;\>WJ M#OUKKXWF9;O7[URW^NT]W_SOG`Z4=ST0"0*_>#BQ7U,9A4,Z3W"2O@E-K3]833%VYPAR2]4R6)PF>R*R<>6@\T.98Z!L&[T%@R' MJ8C3HCM'37E3WK>^/SM4TJP45<3O2J!W;LZ[UVW6;_WOOH7Y#D1W`L.-(E4< M2\(:#U0SL,M6[S-K]X=25/`%`\8`A_\=.'/`V\+@1M&7DGQ/ M;,K#B>@9*E]7HGZ<")D`C/]]H;CT48`-O7N72O<2+X+.'SZ(TI-PIH8D7477 M,0'!/;)!H/GB&]4Y5*#OS\E8D'F^3R$#3;3R[]+;6R+TA>1,$I1H3H@(?LPN MUJ1O"N95A+\3Z.WMH%J5;1LR(=*R06 MK#E"KG/,D1%MV9(5L7R>>O-`K/0#H=;#.L-\0X>#NA`;&V\;"6^A)#UWK4VD M9JY2DN(\8\+L0-]<^"I-C$SA(K4L73.I.W"):-M0:1ZS#H:C\&U34$,P]#=J MBP@#DG*@YP-\+RE"H96LG)F+KA%2]8'1Z^"TL#GB@^5$TOV,F]6FYCXO_%__ MA"]IP/SZD]/%CP5FV-._J6]'L)Y0""47D#SA8'C&7K=D&7BBE.#R)]&@E"<_ M`$,B-B942#..3T@>5T<:&;:4[#C8!]&40FO87T0+$F$8;STR4MU+4A.;'WF# MQB%V8GRK8YWN?[+3<'HMW<3L)T'4,@*2]:4X:R:#E7)7]SC=1F:Z!3P:A3ZW MZQ;"Y7F&:*2+7JYYIP-E\O[Z]-2.,\WBIB#J551UQR.5/;=7[$#]=S$UYFCRWU8K2&#FW/J7\7;&8@Z,.R.=5%HLVOSUS M\FFY.=]Q2C"1N&BA^$"J$:Y*9,FQ>)#]7YR$6J4Z1P+V`N;2QP?3TPIPYN@X M2`90P:'TIMAIXQAC(:+'D$W!?`IP^=$:Q)?]< M=ZQ^YEQ(D\C2_#W4]Y$KPT2T[.HB"R^'W07?X8;"7E'`B:I8DB]<_`LVV/:B M`!AR;#O*1Z+8('HLVL\SCDUH?>/R'9KK*)\4_D4@Q(6R&8<.,@`>C\BUI@/[ M/H)QZ2G'>A0=M^C,D1LPEF7L,(!PYJA269XZ[(FNV$\[:@ML6UPW9*V M25[&I1O>83@J7OVLE!1"TEJXT)Z+MW>K_2;UVOA!DJRPI`&8O!9M%"VW%8?\ M1,,N?(BTE$"R0=HTBYQ^P(<33/-U8,U\.\DU4"-EB!5.>B%`,.,Y"-D2/]!)@#AD"% M-IRWADJJ"(O3;>FB,Z#N\_"N5.80H"<4.Q)*$N;W6)9'(8 MF<^?6VH-XPA5P:SW^2:"AR+/%_&QKF>#:/`7%TWGOQ[WP);B(^JXIHDT30IH MN37PA8A*Y3A\533%O.A^DMLT[3"#Z8O"Y7-A=5A:V\?#WO4O[`!$@^5TQU>> M>W^%^0LMT@_/#[D7%H%HEP>MV,KUW<2N\5%M^# MS1\#<(/<^R-'=!D6Q@QIAIBMP4("'?*`Y5ZIFS740:`&(RDH9&"8TK24R>%3 M?-5RX_PBSTW,D;E0/1I"L:]'$6P\E106QM]'+N:KX4]1\0CSC[!JQG3KH>X, M5!:>\`B$\E%&&EI'>#--!D/.'$KY$Q.W%Z-H*%N"8A+8`S42H8ML5U\L'+&RW M$*(Y?6[`O@Z?L+(0:R3:?T>B"/GYPK=FA&\1IC<0R=[=V_9=_P_*[&[_S]?. M[77[IG\P$EAQJFPP04@%*31O$CY;"0SIBI$M]P M1`$?1PYS*(%'7*!BEK$3!\*PAZ]O88D6Z"K,3Z*+Z(-.UUA78,W7<=NS&PV,\7=FR\DYGZ!_[K"/\Z[O0.R-A6C MTO&=2%8EP2!LJB$"QHI^ZO.MP`-.I5])+IQ(T\!$B('M.$)T);`_*L/$CQN+ MD\469Z])&9>4HRQJ#BXT[:KS[N5;+8(3G#[CUM!:MZQ)0")I6%KI\RVG]IFX1X_9D&RS=DKQ\G&-S MU13G!W\YGL[T'!R"9>7;'D(;@4L:YL)CJQ_-9_,WSU:>@K.]G@)5BBOAA#X3 M=BN(C2W2_T^7HS:^6YG3I MRTYH7HZN4'XVP81G-/$<.%8!6NKA$P).[P0M\_0-&M[I?&I$RTRN42H5=L1Z MO[3NVK]TKR[:=[U_DB/?_R.Q;'=/P"$A9&X_U_/N]77WAO7ZW?-?6:?7^]JZ M.7^Y%/:-YWV19&^L7;R=OM(:V2-1[HS-+NCV54"&J430(360`!+A9"XVZHMR M7@IZTYCF,<%+BJ>":]&>+8RWH;E4-QR$:,!;)'!DX2U]614#YQDD;+"IS/'>^)(OXTP+,MB7CAZ,$.\-D,'@1E.=QC"9Y(;A&5='CEX'KNT=\1./;D MI=,I8IXL`<191OYP8A'L97+,,F]?G%\A2,=\4G#/"7P`)^EZZ@C3M*P'RW;4 MIKD@T4[5+?J&?N-/R5XBJPPU.$-Q=R93 M4D(U4IQ&27,NX"DLM%3KI])\T@PN%WBTOI(ZZ+#1N@9N3D>I!''3';4E^WX6 MF4?(E<%SC.-&\8WC;:*DF")FCY_245]"E:_4P#QN7]]>=?]HM]GG]DW[LM-G MMU>ME].VSR;HA8[\SI(A1$)AO5QY_^T#FZ%HIGLN,"`3:0S">C[+7]3)$U89 M9A^0W,"40"J,&W&\D:.`MDQF1!4?5SNI5_\S\X)C>+O^OBFV49+YF'&U%65Z M$H2;RG:86M_M:325"?TH:@A'?3[!"[3VS`M4QI^ZR=-N!#,X,FGJ:#2\$<15 M$E;%U'9MO)XCJT'$]_.%9@Q'LQ2=B6HCX.M_G)6JC5-1VW%2:E;+Z>*+]/0M MD<4O@%_FKQ,D>E'>A#-W`RGDJ7/]HJ"7NB@0$;5TUF1L*\3F&WP(:QT>B;VF MN]XX)9,N3$/0__R@[S$WD?\Y$65,/M;Y'1]HI7:HK:Z`-E<>RWOJG`%[I0+, MZ\]E'X0LBUHN1WD^@<.Q(T)`?":)2+>^YWJ8MTM<+VZ0GGW/?'I:>(U^.*B* M=^WS]DV?M<[/NU]O^GA'?'O7O8%_G[<&[GL@O7AIH>?^XNN,W"W=;V_UONIN.XUV5#Z3:AT$)Z:6H.K`!!1' M]"/Q^03.">J)J3<"Y:W@[2S7%C8!%L)ABJ0.FR>R;PC1!1233?DLY*>1*K6& M5-H&ZC"^OU8P:CY/(/<2*#;Q(IE22)Z@F(NMP&Y!J"$3P#:B-F1N93_.'Y@B'9-E;4?U>0J+0;[H M<_?NHGUW]+G;[W>OR6QF9-1\8O*;J_9E/_4Y=LX\^J7=^?(+2N%*`^R+WSL7 M_5]P)FALI,H&S\&P'OAV*0#..J*"P72]8`6(5B/UN[=Y$[@3(\5?O-.-G15& M#",KZ+_>XOB`D1DLA((I:L^E(N`'TE:R\?-AOX+-4O] M,T&0[;[#C&#R+T)O%L^I65VEG\0_&?X[/S])VF'/I:3Z3$JJ]564Y/!UAE&R MFCR'5ZI+#X-Z4>]I.O"<1=#`XHBV M2U02=YLPA9" M;:*F9SB<+R M="ZVRAI['^/^6W%>/:72BVQOE`=>%")TI11JGDH42$'PC^>,=K$B'W0$/;R- M)YIP\^5MN[K/EV:_RBDD`9*TL9'G75"6.NY"V5IQI;R5,PF&/.<@R.2`8](; MP8$,1%*^@G/*>4IA3,(^'L><80=990$_BOE#PI9LJ#8:LF?;8H%8J2IH4!U2 M](<4CZG9O4R>[I;BL17=8SK'*@'9T`1DDJZ.V_]5(4Z*?@,#/(APAMKSIZ`E M\6Z!*<[IU$1<))%^\60:*+S)301=PL]:-R24)B'V8_*?8NM%((1IZ*\EK8]! MTI@I5NR:>(*C('L[40<356-D8;B,O&H0)=3EGW$JH&Z:HN_<$ M(@=1IRPLSQ4-2#39.U+AAOR^5GY2EM,9+^K38&."C>C9I*4-Q3E.#G^P1+VP MHI^JZO8#CY!L)%$9)*B'E:4,+,U>&`4M)RWRC_9`=;>-<;N`$KO"F\GEW M+1)R3AM!:BV9OI`&:OH*N4:>M&!-\I&17V8)`O#M%IP]"P$BA5^SFF)5CKMR MUG921$>6C=;#238*2DZ\Q)%<)/,6&#;K";UC79'D&"ZZ,;/FK[AKEHDI$8IQ`J@UVD!&_I/6AUN MCEW5.,)ZZ=BNZB%OV6.JB9$-X^)J&'`KM8;8@R?6ENW?50$064\S>U MQ%PN/$[K>TG*'OF;.$<=I"7U1T\*P234[0)5D\#("]5A^2[!\\#SPC5'$])2 ML3D-HG>>D&/V^\265ATR(Y?<))L&2'M;H>O'BRWSV.,5$UYDLN/Y6YR_E&`^ MQ95<%X(O7T.052;>02IIVM>56SMK,KN[TLB([B?N2UFUBH'-1L7L(Y M?H.JXB7G>=Z]ZMY]9/]1J^#_RU#VDTZ M/M/H@=;06>O1(0.$2:0`*U>UF*A6ER3`:\3K0%H*]RQ^Z3;D@6^I2F/5;-$1 MT*J?))YF>B)6ALIXT]*SLYS`2TTQAVYM*`RJ/BU@`($WK-IP2=_;&PJG:1P) M>UO@J7-".Y<19'UT;\$"Q?UZ1&ES(,.8%-!(;[M<*3MI;2*V[3ZR!6H[[(%V MXVZ:"2]'GH>TG1-3EKP`(@8A*==3QOYZX2KSOR;&@WS%57 M@734PJLN9Z7'45GD<>`3U^*:92KK^3LN6G6>_Y2GA](Q65O]5-Q%J-L:8=/A M,:)B2(%7[I-M+'I&D9E*?1Z.86'F/\UT.2-K-@8T5_#%E),5JZC8'@3O!#O< M89>JN",>X;W[HF?>0-C\(WLH4JN$N*1IXE$(J1/E2'9*$.!.Y,^@1)1P\/$* M93M3.U80'MGP_-CVX5\80GE_U;GL?E"=L/',6WC?H[V!VGZ_O^M;Q'"7LBA'U*""9J1@G"64H,Q@D'-KQ' M3SF884`_#%/W@X[)U71J+N3%K"RKZ:M#P<1(M-,1`(0^$__]^C MHTO/"Q$UB?6X,,CN^/CH2$$L@$#X]G$,/T%3[`K^8-_I(]]#TB=A./OXKW\] M/CX>?Q_XSK'GW_^K6B[7_H5?_PM_^$[^/GR:P>]A<$)1>?-YYAF20W)$O?_U*0J]!\PXH?&'@^/#HP,/ MQSX-2'S_X>#KW67O[8'WZS_^^I?W?^OUO$\XQ@PE./`F"V^($G3'D/^=Y_+> M\>'QX5M/_G':&Z3WO9.CXS?>?XY.SD[>G)T<_=?[__CS']['VSNOYST^/AX& M0D.2:3CT:>3U>O)W0A)_GR"./6%8S#\4G;?/SDZ.NWG M#0^6+<^>.-EH_7B:MSWN_^OSU:T_PQ'JD9@G*/:?I:0:E=SQNW?O^MFWHBDG M9SR3OZ(^2C)76>WRM"WDOWIYLY[\J'=\TCL]/GSBP8'P@>>]9S3$-WCJ90:< M)8LY_G#`230/I>'99S.&I^*S*(@R-Q_]?'HDY7\:Q0\X3B@CF'_!R8$G-7V] M&6T8S`6[XK\(^3,28^G\OFS6+\OVA3$O-&?,Z!RS9#&(@X^_IV0>B1^H9Y1: M0P.F7='X/L$LND!SDJ#P"F?!5,-Z>CV7\YH8UYL(5YWBW8X+6SG>1=^/ M\/\%XK/+D#XV[?Z"WB9@I#RA$69#/*>/4+SOO13 M'X<)SS_)/-<[.EZE-3^M/OYV1="$A"01$28B[C:A_O<9#0.10,HA*EGDOQFB M"0XS2[ZYB^8._;&0:H&PF%V(A`';1("8G^L5?U;"8#/%7+7H\S2*,FT](CI% M+C]E-*KKVY4IU`XGY<(R.I>_BL(#CS+QI5A:B)7%(R;WLT3\W1958Z$+,X:7 M"/^)PA0;N%*V!D"6.SU*!(#YD?,1C9W(J3;M%#-5\]6TG$"@91`$9&G7&)%@ M%*_RM`(&`U$NPIVBS@60FLQ3"&3>R,0NQL%'Q&*1-_"![Z>1]#@.AGA*?)(8 MR'01[A29+H#49/X=`IF%>=LMB?7L$$^2+S3V4S$% MQZ9NI1.`Q966%HWU@!,-T?+;ZP]T-%XVXPIK(<KFLOSD M6W66_?CDAZD\C1\S&J1^\AMB#,7)0D_.MHHZ0=BVX$`OX6(LCRH8#DCBDJ*H MFG>"/#,$-45O0%!46.`X,*1JW2V"5`C4_/P,@9_RT9J=(ZU$IWC2HE!S]0LD MKF[P-(W78[AA/G,5["1S.C!J`M]"(+`TQ6:3,0KKK`:<-72*4F=4:F[?5;D5 ML/NETH"=5@RH2YI:*!+(#5ED58C:.-ILUDYO6-MP26+"9SCX1&E@VHO7"0"( M=97;RU&N,Q_P%L9U,L-L;?:8 M/1@/MDQ"'>'*!,&^]=!K::HPE9:V,&'DYHQ#,?46;3)/(&:QUM(KM4V?&.6F MOF`3!-`?7&A2I%5&6(`GGHU:@CG#/LF<)/X.<>;[.!A$E"7D?]GG6J3F8Y&& M?J*CX=&<`^QS8UN#K:D\OH7!MF@&OTR3E.'/(AF,TFB,%EGA]9B)*2Q.LL*V MZZE@K_2]:97?@/*6-C:LE@_-!8UN\@#Z:7,!4-D65`9MZAV M^*L`^K0R!*J;7#MT`N!\8(5/6NO02Y2M`5#\`SI.90=;Y0K`1&>;46-&I\9S MA8U6`(@UA&>9D`W3`1-QBT+,;_`#CE.<'4V9=X#5S0%0HPBHRK.W2ML!7(]S4R]I6%@RG3++;O!2,5L]\2RQ;GIX]-)@21+'Q(),0';"?(*MDEQJQ@ M`._)%$^'2H="!OJ,4EVBS@@$\(-B62F+6#O0S;'>WO%L@@#(:V-=9?$*X`Z< M0[-37VD)@&NW.*[NFY20V.?(]I(6^;3`ZAFJYWO%+G'VC+_\;L1Y*B^?DEFR M*=FLJ:>SY-;$"3E?78]0*\CG(E$P;X5H)0#066-+4P$`\F&"];:_%LX0UBG, MUI43SAI:7F@;S+O!$2*"5'8]O21K2;EV,5\?/.`UIJ-3 MG*H'MM"U'V'1G1H"=S3B5W%S`5'0MD\A48`->37LBN>2IJRQF"@HVZ.0**`& M?'N`.QSRT-PH45"V3Q'QC!KP906.<.[$DA6C:8)?FF:6=.U-/!1!.]^-`*Y^ M[/F&]%:>)."S,6:$!F(US9:/-2S_;ZR"U`NU=$<63C*C&'T@@J3SQ55&K1>"!KS$>WFY9(M;8@V$N(+JCM1W M%8_/'(\+7S%OFS`!+Z*+QYQR(RA&L2\0VDX@S&*OEE8S;,#+XO4S]+\QX;HMS/$ M\#G*EB61/#VSS:LZ@5=+K0XPX$OX2O=?V@5VWX0&2]U%(Y(D,]6JUQE$`=9K>.` M#+1%G&@T[%%@:#R@B035;9`0(J'TKINM,L2U[!ZQ7\&NX1W$?IW5_,UWJKPD M",J:]C4,+S-#==UE``(@&8Z1^7DJ(83(#\BK/'.NM2D MZ:'#63&`R&ELZ'`&#;BB1V#R,0ZRBQ&NBJ\+-)\GZV0`T-M,Z"N.E'68`5=3 MWN#Y:D"[GLHGW>73R(4+7*\G(;FW=ODZ2EXM_W6<`/G!=,53"ND$Z^:U8F_ZQPZ1.WWG35L=9=/MSJ^#@7[Y8>%4YWEOW\"3ICUX@C1V M`UZFY"=PRZ%X>=W*L^GFWN0@"YXQ!PR`,\7<^COTM(19V!L5MCOUM1HZ.L.F M`Q;`A>!+T^WO22FU`\].R5[`-=HR634X?ODU&'_;7K><60LX.Z@6!,`G+F4"KILQ.FE>@*5UH`D%.$I1?;+G(O(*YP;4.A!0?@Y[`L MJSJ'RXM.&Q/UEEW/-^WY>_/D$<9W[Y$U!+`P04````"`!D90Y'Q_I' M]\4P``"9[@(`%0`<`'-M9&TM,C`Q-3`V,S!?9&5F+GAM;%54"0`#G!K.59P: MSE5U>`L``00E#@``!#D!``#M?6UO&[N2YO<%]C]X,Y^36+;L6`?W[$"QXP// M.+%A._?L8+%HM%N4U#>M;MU^<:*[V/^^Q=:+NR46R>XFQ9)Q@,''?W[__SO M_^UO_^/]^Z,_6,Q2/V>CH^?%T96?^T^I'_S(UOV/>A]Z'RZ.^!].WP^+R?N3 MX][9T?\^/OGMY.RWD^/_<_1_[[_^OZ,OCT]'[X]^_OSY800CY.4('X)D=O3^ M/?^=*(Q_//L9.P+!XNSW=],\G__V\2-O_^LYC3XDZ>3CR?'QZ<=UPW?+EK_] MRL):ZY^GZ[:]C__KZ^UC,&4S_WT89[D?!Z^]^#"B?KW!8/"Q_%=HFH6_967_ MVR3P\U)52KF.T!;\O]ZOF[WG?_6^=_+^M/?A5S;:R`5M1OGF9ZH#G'U<_N,[ M4-?1T=_2)&(/;'Q4ROI;OIBSW]]EX6P><8SEWTU3-H:_FXUF)2/'YZ?'_*?^ M[2H)BAF+\V$\^A+G8;ZXB<=).BL!OCOBXWY_N*DAS6!:P/_-_&`:QHRS]I$W M^R@?Z2,(VE'4RR0>L3AC(_A#ED3AB,_"SW[$J7R<,I9GS036&6\O8M_[*>AM MRO(P\"/3&+8&-P#HL9C-_'1Q-QX&05(`U?'D'GXZ"%EVQ7(_C+(G]BLOFD)I M,*P!$%<%NTZ3V7T6KWZ@F8S($`:$NT^3 M.4OS!?_J_UF$<[X"M!)1.I!=05O1KC.>`;%OX4?OQIK4WD$4PGQN===C>^FW.K#+9:$YL@ M-K`!('?/43A9CO>47!99GLS`<+Q.T@>6%VF
DJXV?/`(KYB@)69UXR+MJ:4YJ@& M(%1^8P%GV#CS@W*UZ`)`=TP#XO_II_`#^0+LD)]]+/I-6P/7'ZD]LW"YAG'\C=14)_@QS#+Z,]R,V]HLH-RB@8&R#XB8S/XSM2+L:NK.PY3CO9VSVS%*3 MDM;'[2KF%"1*@^*9O=^HP*"PPM&[BAPG^=#HM[0><",8S-@P#OE6#.?@'[4? M@M6`P?DX8B%@Z_7Y M'_@2V7]_W%NYA_\-_LI;_WKE1_D1_P:VDVP]>N0_LZC\34_5Q>N_:FO/8C_Y MSZ]$JT4NFWNG-7%?Z1VF=<%ABJV'7LVV1NOZ&&Q1?06N?CC1D[_(0)9DSO^. M[T9)"N>+W]_U8)AR-O\6P"$))N>7J#00X(M@$_Z'UW^/$K`F?G^7IP5S1M[F M(_@5-IAVU5Y>[[A_8I%-R7JH9'?#E1:S`E1BCD_V2]=5;6]%V%DVXF+;_+2P M#5_)A$"W."^:'I>T=\L<+/]SN][UD:)F"9 MCJ[\7#7/:VV]3X=&``I#3,2G_1)Q'6:!'_T7\]-K^!N5E;35VKLX5#($0,1T M7+B@8SE5]`FIM/<&ATW)%A0Q*8/]D+(\.#^P29CEW+7[S9]A:Y6H*9@5A\8% M"@,Y#A[ODXA+@)+RF-&(_?I/MI`RL=76Z_4.DPH1#H2+WGZXN"S2M+:`RC=Q MK+G7LWFLML*(%`I"RIX.T\O) MSM-/J<]O)3\N9L])A.B_UL;K]0]-\[OR(SK?TWEYM4PFLUD2/^9)\*.\#Y'= M%3F_1\3DHY>[^`.UYJ@$,I6<`'JQWI(PF:@0N.><^MPQ=C/GDOE%]G[ MB>_/^4PZ^\BB/%O_31G?K4RIU5][F]"W+&R!-_8N+CJN_`9$QT(7XH;>F4UK M51BU4.FO/K\E8M,)5AB@[3+RL^QN7'Z^2.!"V<<[LVGO:@4M)'0I>!6"L1*K M:,]654;4?8XW]LZL6K_*.(:>SL4\(6BL1#)<$D0CRF&<*V*P MV[R?%]5_45@0^H-X9S;/JG9,BH;HK`1DS!"LW,)V&WMG5H^OVC9&0Q+43%;@ M68G9N&2,EM%ACSJ5%=(BPK-[79O_#:SFV2SA2WH1A\N7\=FE'_LC_S8?H?N9 M9D_OS&$`5/%IU,EH`LAA!-;O-`HGT_RKG_Y@_*W5%7MA45*^4E72HM?; M.W,8"&U.30-0YL(_"#T/_NQV*4KL3Y@6)Y(NWCD!^T^?"!42U*&O?DE?[]QAE*<# M%RI(Y@(_*F)X:*"8L;0FD3XW\N[>N<,K91WHT4`EC_/LWSY>IR.X8L_E_4_% MX534W#NWN:_;.8:B.!!^G+D4M@55GF'$';Q/5B\^:9\\4;WKT50!@Q#ES#5@ MCBA:!TY3C*F.ESUG+H+'XAED"&.^VG.QE2Y5<0?O$P&K6O+!("$^'`O"TYYN M>MZRB1\M+T](WHIMM?(^.7\9IKT58>(C8=6]WNN4/C^J-O$N+MP__Q)I<5?7 MNV(CFM[3K)F%Y\$`!`RG,7PER*N+DIK<[+5WOM$ MP%\B4+:,%1$$A!QWD7P_F\IB]_#/WB>'5U[5&A4SL!$<4;BSX_0J56SVP`(6 MOG#+[!O+5[AD'X6DF_>)@+.J*4%*0`AQSH[7JZ2YP_$XC$)8HM6<(3V\3P0" MA$WIDF%!F')VG%[)6L_(ITV7L)OWB4#DL"5G.""$N([GZ_;$K7,^+V`ID!!5 M;>9=.'Q/V9:8'0#(/=F.)^[V1-RG;.Z'HR^_YOP5QC`>W>53EM9@2OC1Z.U= M$'!5-:5-%Q?"9L=3?8?UD(T92#>Z#F/^@.8RR3;RRC\T>4?O8G"`).I@0@AT M]K!@+?.3_VL)]S;TGV$?7F6:U=C:M`;P+FSZ+BWSJ0$-H=6QET+#]J^O,`1\ M%(V-_1T$"!?.G!3KV@@\2VQ>+9`@7R%EW;R+0W)9*)$@C#GS7%0VWV])'"B_ M(F%[[X*,;T.#(QP"0HXS+X=HEWT5N;G54>L+FS29-5"#-4T\"(7N_!WRC57K MF],>PW,9^6C-J!XLA%AG[I&ER$I[P[L@XU74]KB7,B/Z=N;5J$P.V%?+YV:U MTAP:(1'=(;P+`J[%9@&L1M"0UZG._"05X?7C6W@GV`C($"6G(H0(B\[\ M(^M0Q+V_X'$(_6!,O8,W(."*5*A>'HL1X$&XGW4#>@(!/LA%G'7`B/+I[F@$&7+8NP:G^ M\D3-O=[Q"0$W6*NO3H('8>DK6T#VQZ(FK@0CATYGW9VF[+ MC=F/FAP6-$?P#O:FD>?%&Q#P.[@FOO3G80['EU?A9;:)LC.`)N`9:T>@+CJ$4H%?:48:A05)' M4W"E",VO#O>3`#`!/TL[^O2P(63V:%;/N??YF7/*\C``:0^PE$[/GMI1. MSVK.^Z:U='J[F01E[PD;/:K66+HF>>GCQ#P6<-U9/IV>W^H>!@CH] M2<$)!,\;*ZD#F&CDE+)`UINMJM.S6O:C??F6\@.1^3)V4;RQPCH7%.*9K9FI MH2!666<81\R3B@-P)\-C,?6P`D5F.G[I>& ML])=6JI@5'I![UE:%E#5]M-C`P!V`D'M9N0V04:L#D]=]&4-W&&13Y,T_-?K M(5O)YG9'P$KSS94VBV)$QDKPV&/O)LN*QLPM.P%&`H'J[JQ5T9@KT6./,GD) M;LV>7N^<0+2Z.WD[D,Q5\3$>]VRQ"VKT!M@DHM=-F-2&9:XJD'$V&^Q^DEX` MDT1LNR5[8CCF*@M98DVYZR$]`!Z)0'8GMJI0S)4:LL24WF8GZP9`"7A:.G*V M@T=>@6B_L;+'8C;ST\7=>'5$Y0_TDB@,0I9=\5![E#W!V$73*!G^CG+K1V3Q M+U47'K4T5X!Q]X>P`)>L.3!L\U`K#'-IZJD^7=4@WE3,ZS%@L9^&B6Z\J]H> MU&'SB*L5ZU+3I8AX[0(B%NU:"_@]SN8L*!_>*`,J:!]`:/5\VSSVM:M_A#`Y M)&+A+^.D$0V&&6&/;#QL+?5UDK+`SS3J;PD[\)M`%$QL^1F>V03]0/%'/[1#0=&+>2U):ER]1.VY^X*JU&1YH6L?2%97`V62>@0=VEJGZP M0SN,.+;W5.KA(A>\\K/I]=7-Y4V<%2D;#6<SU M'LOLM-'"0S!E-WM7-\9C$0(:_[+.P!\!Q>DNQ$J!010IB[NR[\2N==*0\O M$JDV@,0=>,JI0SLV:B%"^'+FT?DR'K.`GXXVL^S!S]D#"Y(X"*-PN<7GUPS$ M]"/N+2YX2?):8YD;O/OH_';)H6Z]YN`CT\;9[9JEC+=@2%R#JBX3KIP"]'.W M/&SSN#<;)^DK<%[;)$]]$#R,?<#(=<<3VT)/H`'DF]S$.8/-2;VV6_E5KN=# M=2#;5PLR_1\'/%9OX?Y]_0=N57?OD>8\?9LY[VW]1Z1W[@5- MN2Q[SRNEH1R!OPZ7GLY-^XP%'R;)"\SYD*^8??X'SEF_LE#"7WFW;.)'7^!K M1.\9"EIQM#8?1^C?QL"IJ/.&@[!R>5Y7^TMIT$C]=A,NLE6+4WFA`M?CKKX% MDENY]&Y3V31N0G32NH7+ZMA5A^57*+^/5VO$!708LD%FJ6#)%TE-[#+Y:BD< MCL>EV:Z1P0?IP>$Y3-;3>$_6@R.]$+Y?Z_`F?@&YDG199'UE';I(7KH69"$S M(/'&WLFQLT#(1IH5RZHF,L74B1V?4/'IV)RN7W>>'#LW2C7X MPAQR**(W_;SSY-BM0:NA?X0P.:0W_;P3$-(PC.VP1_9YYV95N08U9U,V^B-) M1EI[=JV#=](C\/BEY08H0$+,$+_+IRS=R'L3ER^MI/%`I`>@(Y!4JAE/4BC$ M'F5NQ-Q<%%E?2-?YI'8Z`48"6:1:?E8(&F(O,C?BPKE)AR-H!C@(/&5OR7N]3?ELU7PSC$7]@4]Z9\131ADSLI(TCAE]6'M\T>@-JJV^7M$_?V@PU)'@;*K%3^5X( MIG52WP_3^XMY\=?%1K1/E5P:DE-VJE M?UIF=!LBE$EOG#VI6R4J4%)2:P>0"%32WIGL8BH$DE.KJK%*,Z`FH=H.H!`X MINB2L"LYM3Q#Z):G>A(L[^B=]`F47^CFZ-5!2"T7T3`(BEE1)GF\8O.4!XQY#Y%931G<.D>.%J9LA?`LAG<]8KY[F-534C$@MG&2:/E<3/+'MDKYM5SDX2X:C/`R=V$UIVMP`%&M=3!6&AYCU9X`CHO9>=[+V=QOQT8\85F:IW@#D M(G.X;;2$B6`8NT0H4RLZJ[>;@$QN#YPB%6%*K(IL^R)?FTITC.TW@D;W#J.O/E MSCP6<-,6F.U:AIA<_^''A9\NN&#_442+MKPAPP`VUWDDNY`F147MKM^>2_R> MG-N,XML_F32%2NYN8<>:L2?G5@/R-@K]ECRHV:P"I'8!T0!K-$R5?="WQ^*) M#_[LEE<*^.K'_J0\C=WF(_E6*.D"PA.X%H%]$X(-4(G%W/5%S&3/_31:BI#^ M8#SMW1UTU)A0^\V]DX^V?0+V[>5,4C4*@/6 MY51[AP7-O0&1/(&8SG48JD*A5AO0$$>TK&`S9"GM78?.A9@'[HRZZ^FF; MK!]`)O!,&O]RL*.*$A*ULG^UNLMIP8U'Q1Z&]`!X9!+?MMK(I+BHU?\KC]-C MEO)GX(\L?0D#7L9F+,"0\0?EF?B?E"NLR9_Q!N=6/VGMW5-*M'ANF-<#M?J! M!SJA:&WU!&:6RDYP5_#P>PP2C?C2G*W79J6-@/;Q!E:/39KV@?EE03Q)%&J@ M5BI1M/W>Q$'*_(P-@R`MV$BCAEV#4<"@)N#<$`E\V_;FHQ2IN2*':$0X#6!J M^A.0"R3B94+BR343YB26=P"!"63;:4R-#BAYK3\#+%2EODQFLS#CV]"J3"I* MA;P7B$X@$W$[/G20(:0X/%4#P,*(+`(WK# MJZ$,*L(YJ;O\J[0?PQDO7%JI*]Z!?YTA04$$WM8;G0OZL)%YX@4+;(*)T[Z!`RG7F.E!9A:V*144`-;\^?($&*$.[P M_?=S_NH@N_<796H)Q4J,=P*0A^B#T`6&L.>N!G!-WJ]^#H8YK#(P\;39JW8" MD(?HL=`%AK#G[#Y375X^S;19XXV]WG'_D#=(%!'"D[D'5.*MN0SF/(B_'9UN MWL!J4NV]GRIVH"&\.'/^U"?09S\+L\=YROS17?QW/PWY+00N?$_[J\*'``40 MR'EBZ%-3P41X=N;,$<%>QNDN_3G\-S\FS>#XR[%=,_8:2VAHHFJ-"2HZ1-^! M(=S(@W9G=ZK6MO8J,O$Y2=/D9QA/Y!4]D3X`\9#]!PI<"'7$7$&5N;=T.S=V M".V,`/`/V47;""5"LKD76M=AFN7W:9APT_J1!:6)???K*2A=@EN- M`_`(/!IJ9URUPXI0:>ZM5TVLVY#%#5FK=P&A"5PC-D"0"!;"A[D#AAM&AJR/-SC(HZ$F+H0.(FZ8RR3B0J=^I-S!Y!T![-MQIHG!(4P2 M<6+7A3"24O=A)J:;"\]82REZ< MTGJA9I`LLM4#JFM&=EWP4N&KRI>KNQ/95<&&SW!^\`/9.;C1.*`1A]9K=XQ2XB9]^)O_%_%2:I*?9 M2*`-`I&<_4Z$;?3&D@OO<2YTG0&`G$#P9[^\+S$;RT>\+[;7OHJ;.(B*$7]- MN_Z73I,`'Q;TY##N9-L:4.$FEOU8#>@>T,#__MV/"G8W_L;RK7_O-$M4@WLG M`X=1,=MS10^]/($R&5]AJX)7>W09#@S>1C7H,AS8=%2T=AD.=G*RZ.!X"R[# MO:>#']@,51EQ*@[0HGQ-<1+S,G9.*CZPZM:PD@I^@.Y7&$!B;D<#I-%R.]ID M;W^%K?YD491=^^DDV=3U7$:N%=F85?T`!0%7$O9M"/9(/4"$?81WSU$X*2\? MP&&F3"<@2[ZAZ`EHB1_V=DV=1M!LE^3Z"C;3-%J40DB.7&A;[_28^`D*L35Q M,+:K=2UM'_'COGH#D,=U;:V6AGP=@>TB6B(AJX^NFYR;JOU`>H?W+0T?I':! M_>4K:N0M.3UV>.O/W%;3!3VU8EM;%^%N698Q-H3_EV??8Y"MBEO_IJ!T&&]P MXC#DU&T:-,7*K([L9WE]O"&N"S4]!6NH>4Z!XXHOD?@O>Q`VNQX#%?AHF MNIX,(WV`80$'BLV(T@!AM@=N%6%^I6LLNVE MUA"P$'B#J%`ULK\(@!!S)O[!XO)I>3P:CF:@5@XJ#U^8FB5%3T!+(BC8M M9-1L5#EC&HWC70P([&Z=R&V!%Z'>F;_C+I^R%%6";#.4 M=@2P!&S,3N3J`$38=.8X>=W1KT$9ETD,\+.@F,/R9C9.4+=L]^;]8]N47 M:`($#V,_790[$"]R!#U!T5&)6EDLT^*O`D$'Y^:TK@YDUCG,3K4"LLZS"\=L MN?\4Z0'P#LZ7*H6",.7,*?2-Y5HGG5H[@')P#E0!`"0H[LRO\\5/8YZ+^IZE MCU,_U3G48%T`(`%/:C.&Y%@0LISY<;:EY04#`F[EA5&12^_O*WIZO6,*)=KD M;.@Q*$:&,.G,Y:.0NK3ZKL*,7VXJ4JW(4\L10;4$SC_=/MI&4)&9X,R]]"<+ M)U.0>O@"=MF$?2NXIN[&);!*:5?]3[W=@/P[(7!6ZD2M>+9TT@&I`-IKO/Y9=4#]%J[ZPD&:5R!8'J$?PNS' MYP61O M_HS=C6O"*K],M`\@I/%``U,^XC&4XR%V3=DX8[0648/4J=9+=WE"5Z(^L'$1 MCVY#_WE9R$Z=*%C:$4X.KI_LFSKP-`$LO1*][V>ZZZL`'.LR_C>!C3S<^`:, M.`4D/Z-T`NCT!;VVB%,U%U9ZR%?U`R%M&O7XH5Y?@X)#O!ZJMW!HOT_Y]8E\ M<1_Y<0Y8-RF;/B^>X+<55J)&;U"5S?")OMFHQZEX@=/&2>RTCLK-I5;:(QJ] M`;55U[BV+:G-4$."MZ$2.[GOA6!:IN=^F"9[BM]<#I>DRGE@',:(QW*NPRSP M(YZ,7W95L.V8WNF9Z]QJ;?=Y0]B).0ITT.A6NF@\%FC$=3*X?NDQ/N;R+401-[>*X)XVG*4N:/SYLDA M$?--&R>-EA_:+'N'XF]^`,"KAY3R3)72?H#X,$S"W=VR`3ZI;WB_=F#YI&.: M1"!!QB,>^<*"^;?[(TJK3]+%._UDKCC3[N](;3RD.=#JQK13JDE@T4DQO`5# MCD?P^,TRU1V%2C-0%@VS34H.$KCG6@@I:1U9Z3_17^>\R3X,==.3X7X^3XN">O^(=V`+D))%,1S6_1_B)'02PP MOGXR6R:"XF;:,D5EFOI@]2UOC[PV6;GTAC_]=+1$F%6>PRZ?RT`*QK`IIO'V_EO4?+)FD_GP:!GYT$X^3=%9"-'F1&/D)I7&MZN>=#LRY M4Y$?DYK9LC[>Z<7>2_0M6]\;M486KZT+=[@-JH?&F3,V=PH4J M1D;,0G]JK&J/'-8'$-)X1J;@`"%.#HN8/6^<.%I6OGD&R;I3OR5I/AW. M6`KRHJ<$O#%L/A22(LL_'C%?&!AB!X4O!;\@KJ2FV@QP$,B"W(J471BVRWD_ M)@5,@[%T_HL;>KUC"O5(&NE9BH3835$CI<@&KF][MC'?U9`(O5[E5\L2GKAV ME=CZWD_SD'%1NX1TS$RABDB+)SCC9WZ@.JGJ=H5OIN_L0OUC,&6C(F)W8T3, M[/.B]B^J*K5MQH.9:#-H*BUFJ\D.\EFU1_L63LQZH!5':/U!0'$V'2?-BN6V M9UX\E9JJ@=@!O"JD\@"WVQ@P6!Q&(0FT"-*.QK$(;>I$B,G:@1S?\GSX(VS[.RZ$'L M+W_G-IR%(+Z<`G5/;D@<%AG:F&R?K!_\V2V?%%_]V%\&UVYS!1^2+B"TU2O. MYHE0@[%RX,Y8\&&2O,`),.1[2I__@;/3KVPE\%?>+9OXT9">O?TP@4-')EZ0"1ZV`+2[O,![Q&F(=Z*R-P&,*!.K46")7!)5: M-5R07N"6UZ18UI/C)5"`I"NU&A#I%<8-4OZ\YXHM__'EMW_T&Y3&/R-L.R5_TG66SHA&1[ULM M#-KOOT5D)<%T?K'SB^Y&V"^:*8#J9;T= MG0]!T0UD)W`-O@$!6GB,Q>:Q:<^"4@[XY6$\VLR)^J>H^!KTA_`&)X?%46-L MQF+UJF4*?K>4C(O%=+<042=O<'Z@"Q>.QFD4O]V-EKY55[:;TQ"*TT[27UO7 M+/H]MZ<95(V[VMZ5VT[LWJ*J:9Q!.NA<>9_%7':)U[(KR$HC:.7U3VR>$]RL M-"A.<]%P)07H+!>V`_&L)C52KBJHRJ2:K0IO+BQM0;XR1Q7/ M&?MGP?-[OJS*A*G2G8A[`$R;]J=;/[`4,[50KD!8=3H-K(]W8??!@GX>%!D% MVJQ50^^"PA4(Q2>D15L5#T*5LVI! MR/YPET]YO>\R54+&;_95]XX_PWQ:[=<\C-IH>._\[!!NQTD"\N:T@,17G549 M6DF_>_=3.B>0/K`2$O.J-B=:"@UAKX4/`WLC6)']CS3)LJ]^.@ECZ7U%O8X` MX!"NGPNX:8(/(S7C.X'[/&?!?SW=9+D?_O?TKL`D.CKTP#&T**,Q_.`PMGST6:E9<2 M5WNPU`#9;>Z=VRU3L`_;`T.%T&7N(D1]RL"F>N]'D3"[G*PY@#ODW4F*"J'` MR65V$!1PP1::)B]A5KG&;B2;^>[HMZI$YI(NL-Z8NR.R^SO2].5(*' MKG[30U?_S1^Z^J0/7?TV9GO_S1^Z^H=QZ&K)'ME#UR.O;.FGHRV#Y8IE01J6 M4LJ73$5GP$[ZJ+6[.3;%)CUE[=>*NTR@6US6.8VS)`I'/$:PF#JH7+6ZF'.4WL?!9S_^(<^`46L$\CDLQRF>H`)WJ$!F*Y5`VN^WERD; MA?FU'_"TQ*K,@+N-`9/-6(HE&Q;#827GB"ENE&:0J#D_G=%XPXGI7(>A&A8[ MB4?PGA2EUWY8%/:CR=U)_!R4_+UB/G3`46M M_L@WEG//8^F`';'1Y\7WC(UNXCO8,?P*S5,6A+XBM%EM!D`(/%^T1Y%X2NQJ@%H*G>$L2?/P7Z6$=^/K,/9! M)6`9)9GTSJ&LFS>PFWZ0)M5JC5#+PG,3\YPE2;KX,PUS=I7\E'W+NXV]/H6Z MPONF&=,#M:/]8:[`]1&IJ8F>PTP\O+# MF?-.*;9VFNV&(X$Z"+C[]LB_"#XR&PAY^,IT)VQ444;3*;#5'8`3\.]9YEV( M&2&;D./NLLCR9,;2*S9/LK"A2;?=V>L=4TCA;I-I!#)"M+G::;@D#VQ;X+`-:H1&9ZZU;E?'K-VY!641\+ONY99F9RTA4\J9-P_!Q#U6 MFXI&0;_+,*4`4H0/5_<1WZ<#^/1 M%_C;^4R1XE-[$%`"`?^P24*1RP`--8),"V>>PFX:LK:,>/T+`GY%^]/'A):0 M*>7,%8E@VEQLM;5#-?P!4!X!UZ69':H5=&3>./-=5JO\<&WPE%GE,SOYO31Q M'_X8C^X*THHO9`-2:`#)>.*P'.!\M67>C:_8,]\B5S[Z6W[`NWN.PHER<]$? M!%1'P&=M?QHTU0@R+9RY,;MIR-IF`"<`2<`+WM!>4,%!.'-VZ9#+JV`'!"?@WVS!PU)P1./N4M`6\_DRA:0? MK3.4WL3C))V5W[:&.:XY`L`_/(]0(VP(M0XO_N4LA7/DO1_**GM4FP$0`FZ; M1EK'(C_;H!!VG#GDUL#X_2+XX^N1/QX)MMVK,.,)78N4:7R178?V^@,"U_I: M++'=02.SQ$E=D"^S>90L&/O,8A@]YQ[%3I5!3#WA!Z1@(KX*]:K+6XWDTEK] MO;,+AZE5IVQ41(P?I+9%K76@8%'KC>)\H./0Z[[@M,%,JE;)U M"<]"N;OMGY!9IO(.<.@P>`]P^V>DE>Z$C;D\>Z]KHJ6B^E15(J!C`MI-X`]H M;2XY^E7L9&34N<-A6#'?;&67!Y&MNNQ;)?)?ZG%7WP+)K9A=-I5-PX[JI'4+ MYA*V%91A^B>6SK*[\762LG"RN=T,IZV4!?G-;)ZD(D]?LP$X,(G!X#N]KMZ!/#Y"T4HG0(OW;1_XSSW[&2EW\?U!+`P04```` M"`!D90Y']7#EWS),``#)'P0`%0`<`'-M9&TM,C`Q-3`V,S!?;&%B+GAM;%54 M"0`#G!K.59P:SE5U>`L``00E#@``!#D!``#E?>MSY#ARY_>+N/\!-^MPS$94 M]W3/C-<[LVM?Z-$:R]:T%)+:?_]>8-^@7GN(@JG*"'%W0>5=%]$<5?RI8?O7_[_NT? M$?OAAS.;[]^]_SOT^=WW/W__=S]__^[?T?^]^?7_H0]W]^@-^OKUZ]N$ MME#Q%M[&9(O>O&'?R=+\RT-48D0%R\M_^&935;N?O_N.T3\_%-E;4CQ^]_V[ M=S]\UQ)^(RA_?B[3`?77'UK:]]_]GU^O[N(-WD9OTKRLHCS><[%FIOC>__33 M3]_QOU+2,OVYY/Q7)(XJWE5&N9"2@OWK34OVAOWJS?OOW_SP_NUSF7Q#^P"A M/Q3TN1%<5WC/^['#^RP6)?^(E] MX?T?V!=^U_SZ*GK`V3>(47ZZO50J]-.@K8;I.RJE*SEO<)&2Y$,^3^`QMWO) M[ZJHJ!;(WN=W*?T]J:)LEMQ]3I<2?\3S^GG/Y[1_J=/$\_JWQWEHB2M96NM. ME7HS8_^^HC(,I,//%3AY)-2U7;$!>?-_\7 M"]Y6^U;_@:@%+DE=Q-A*=]&K0YFB!QN9Z)Q'.=G4CO,WG^Z^^<>6#5$^)!A1 MCQ-];GG__<_B^R.E3HKA$$1%W$I(?S1HU5!\%Q,Z(>^J-P,%UP796O=Y(PJQ M[IC^8$%0U>C$]2EQ_/:1/'V7X)3J]?Y']@-#W(]OWKUO9O7?T5]UDO0$N(\> M]O;9@YF>W!FR#%(KP31`$*?V"!](U[>(@?>[0Y!T"'Y.2SA6AER^(3/2`8*< M%>I^^YFQA0>AJ8$Q($D]*L<&U#UMUH`>0>(%*HUT2ERPOX%/:>+ M?X,)CVB]V/)87J51"T*Z[$S885(@]CW9VU.&KNGJ8R/B(BWC*/LW'!47]#>F M18%$[045LLQ*7`A2Q&@1)PX#&8I>G\*&MLO=H$/`$XZ/`;U'A`SE-F&D<2'! MH62B]]4X47;]L9`B-L*W^#%E^]^\^AAM51/+-*E3?"BD'4.C.;W8TR%&Z!<4 MNH[NX\'%PAG%8A%EEWF"G_\%OVBQ(-%Z`(,LKP(-#2'BE(B2AH`'16_+ M@-!V];$0<587Q6`*TZ\\U>1.<:&1>@R-AG2PS`AC#6KJ^CY"8/U^7+=QD6:X M.*,??22%WFF,*#VXC+&L"H?!R5!+%X*WF.QDV5=H>OA8(+@O(A8GR?2!2 MYS1^,O=)J)C=%U7 M+(:"2:-?*&@9?:P:])JHEA"<"W&V%1*,J,<9@H^`C-'$\@(\0+8(6T?E`U>G M+M\\1M&.P>SOOL-95;:_X5>R/;PUO_[+9?Y$9S7JPL[IQ):1LBZPYCH6Q.4, M:3`=QC#KJ-&>/(A[5XLA:;%E/1Y>@76/GZM3^LDO=LCJL84`K;X6,&PQ#L19 M%.A:K,83+AY(%Z/B61O/MB*A#&`L"HBYLY:;@NQP4;W@SAEO+LT*<"T4L1*;E"\I#@T=K##W+H0H`?W;>VZZ9<%`)\X=Z M@`;I\I3F^7I\5.$FKBRA.,[K)`$P8>C;G5FG08HQ) M1H[(&@D&U'($-4%`!F8,./BHN`/8.7ZPG`&4',YAI99=NN2DE.$Z,\,8C&$$ M&@!?"`(X)Q6#9_SH8KK'\`G($>F[7X\=W\[GBN2/][C8,JD@KD=![WX^4\@M M3624[DU%"1%'4%A>1]OYTM1E[GF'6YGHA86/EW3-=A+'11UE)603K>-ROU'1 MZB"MTAMJOCQOZ8-R0X`QD=;?T`%QARPJ!ZGSJFQ$XV+AY"J-'MAB+>6R7E<; M7/1^M7>GS04RQ),=^D/.\7OPGI)BF9L/H.8+*]1\`_5:7'&#X-_I_[HW5Z]0 M&YP0SI;]OV+?N?0UQ['2L7LZIHFZ\VCL1C*MV*D&D_>,Y%6:/^(\'@@+F#TM MVW'NCVSUE$*8]OS<+@8MA+KVGS6X8YPO&-G`8`R9>&T;"A/(.N(M1R`)?^W[9>D>53.$PVYZYC[#4;TJRG5/MEW!%FC MHNFQ'>^QJO>Q%4KSMI\JRIY'54#4P%87_<8NK#4G8WW!910]92C_? MB,?NQ,N)[R+F3/DO=P5^2DE=HAU_RK]"M`FF>II37MH>8EES5P@_[])"I$5+ M^"]$R^P,:!OE.2[81TI<51GF^PG:FM#LL<#B-U_3:K/OI+9SQ>4(?N[WJ>B- M$B44AQ5!M%.XM'V^%)=O/:?U.Y`7'V3\.Z@+=WA6P"##!OEZ?9'F41ZG479# MRM20D=*.W?UI`4PK:4?=LJ'K->H84CE+?NTI\'"`%Y0&0<)9%97F]YD]&%>DH`3S^\#$AOW0YPTC8/,R) MO*>>!`^!$CGZ_G=X*=J3XYQLHU1:H_;OFB:(W5]N3DELPHL@#``QZOZ6KN0, MG>WVXISD7)Z37_'V`1[D`ER2>NO"EBQ8!E<^"+(!+;#NY3PR2N[Z* MGL;)U'6S#B3^SXI/7_I_,P5:,J)>02H8.9E=7?KH#-W7E:+ MO@4FPNHN9>GCIOHU*KY@'O"`GW!&^*-KHYE`N=V:"EBGB0,4P8@Z3M1CA9B, M,VC9#=P`7G-&;6:^9[R68#P6G;`./O M$(9R1M>&=*2*P4?AMF)B]V0N1JW4F&I91^`*TN/"!F\:938CYS9[1-7F)*`? M,QST39-[R1TQ(;4^=<2*E^L*Y@Q/U_-3F2/TW>X/,<:S.16#=]0HS^BF<1/, M49U^!$S8\7N5=E<_D"))I&-S?UJLDEZ:V'F&3L\;[-`;K?NFR M'M#WQ\KR?H4?HTPD!-=4&)6HG.9OEV64/`FC:"L8^YYY--W:S\*N[5.':63* M$E>0IU)C0O=I7,:22JE$.($Q.G"QH-#4*3!Y_7NK:0A(.48TX^\:KDW&$C!J M)7I/X)7EGL9$+YM-4&`VR]_*'1:V%7B9AK@6+`ZCH:)RHP&V^+/[B">0YJ<"R9>>["#AVJ!<"BJT`-^3/.?IN<8S3)Q;(_1%7C8_135Q:-F\Y]!1:*+.Z[>E7B')T M$QO=[9,J4I3= M__V/J_<_O%]1MG*'XRI]PIG'VG(VN%3EF3.#TF%.YQJS%UPGZW6:I70+;38M M)8?[K,Y*V:6TSC463_@ZVLZ4_$/),`128F=(_SL'4"_>+L4E&$4*-E]04FDQ MA2?^-+D?*,DS;6I1M5B-"A=FOSQ#%^EY:P`>%@(LA6T`4.6A>!IU]AJ#&)+Y M*XXFI%26#VO6(<=8?S$K=)>@?'$!J#`W%[*&L%T4FN[<2Y4,/6R_<\.A'S7<%JB7)8L(F< M#X1K%S?G95$@YV46B)1K5%G"T67=ES6F`B3BE3T^(V4GDGY.,S%ZJ`-CT$2N M!R,8FCP*&'&6WC[\X]'F%J!-S5=I+9(FY(\H9DS^K0>&,[G0#1QD[FWF/GH6 M-MS+'0\ZP8(VX,V&C)HI@4O&9*)!UG!T&579E`\`` MBISJ9R0]6SA%3*==M[:$IX.=V=)"I7JM1"*NO3J>MVW'UL+MNM1L+>"BJ1YG MU=Z:^"/5W#B)*NB=V[E*[C&(AGNV/:E?>[:3/B?YF]#V95K M*OOMUX@WB!W86!_H)FS/%^@^#*S8:"O6W8NV=L2SQI/XV48$;YK_]W0\__:G1 MU;_YV8)3>MXT"YE>C`\>'*YC\FE@YC#K06W4T&+%K31IA>\Q!64MP-!Q*)2\ MU8>&1YR.&7S7:P8$9':U@X,XA[>7?RQ)J(*V='A6!!-$Z.QN9(;[=,#@.!S:8Q40P,,@F%B1, MHE-X4>.DMWSMRN/<%"2IX^JWJ"BBO'I1F_#HHQ?SI0;C"M>HXO] MA3QDZ6.32#<59XP)/^QI%NV]REN[!@!?&QE6['%D%:7\:6=%Q-4(_514H:C` MO$Q8S2*0614R405MQ?_0?8;DE"?GV\@ZROJBK%A-KRBF759G7-`G5BTLW8K( M658%[>LFC3>TJ2>2LE=IF^@)HYQ4Z`6S!ZYL@!(GZ+VDM5,EMF4TJP] MW?R5>??FN#:`^#:8,JWPS1TB1WZT2ZGT*,-1&PR>@0E:DD#\?HS-$@:4O^`-T!'RGL!P8T?OP\* M2U$Q>/7^VI",\02PWQV^@JD`J-E@$@@WXD2/-MW\X#^69'2SI?3S6GI!YXOUR$VC(R5:($Z[095G20?#]5,=.@U)H\#?OW[Y[Q^XX MQ"G@G]#[U;MW[]C_4,F"N$H4U=6&%.E_XN1/*"?M;U.NLGC`75=E17^@D[M_ M0].`;^*=MAYYKBN^@NQ%)O54[56+LZ9F:GAF`I>=&XBP"O^P5@%DNM"K?T"? M)$G*9MXHNXG2Y#(_$TOEGGBZM1J`V?WZ#**1M$#IF!#C0II'F['_)O+7#T22LL2^BYK$_++M!P\B$JV#5:>=+=>27G>)W&J6[W M`V'V4+\6H)%\"2&84,N%ONWQH8;Q]WX-:I9F?3420>7?DN"HD\OVVD'.84T0 M*6A?8SE3Q.YK@4Q)+)>XVA/UWUR@DZHJTH>ZXH<"]X1%!!TQ'`OR(!^D#S\3 MM'Q)LEA\BUS6("5.12B%[RS6RV5U6C5&::!2Q1B#=8;SZ$T;P6!B#>Z1VV1D MP]3C-I]>9H82PN?\UWG-I@Z"L(&(]]0!^7&S<.AN)$TCH7+JY2\I*(D/#R<"_4"<=9Z-@]7+%HMY"N+ M'OE*@.L%?6[^&XR'=JN5V_L9,^KDNQHHY-Q9SZ<27Z\_E%6ZC2JLJ\P])G1N M(9*D8_10`A8*TI&$#:#ICA]#1M?K[D!R7T3)/J^Y5`I)=*\&.T!^YY""ZB6= M&C"^?J;^J:)?H?KDN4KO25C\)J0'3MK28/Q9UCFI'ZIUG76T8=NG%>;'9CL# M\.ZL^8(4.'W,15@NG8+H'J&DZS?VN(Z*S/^9B;=V\-74@C:=6_T2_<=&T;2% MVL90OS5N'_WV@O4)KZA+7/J`Q98R]@L',I,%S][/F.;L82W[2OLJ[C8MOYAM MW9+?[2-W"[TF=AU[5G3=OM5$C#L<4SVLEL27EJ#'[@O4[)WFL>*D^_.7G="0 MK43B<5>(9ZVHH%_P_?;;UCX'3[[G&:>'>GKPA86:Q5^=/3,*>S7W0IWRW6CC M@@U->LSD>Z"\:`>4[CNVYN";H-1@:B48U&M M(.DP%)79_&E4XN2,;-D;1K%4V['_ISO`2[Y^2Y\PJ]Q3&L]59[7F/IAUELY2 MM"MKY0UO!O7;62'1$C]9Z-KB5;;"/6\Y9)<\'+=+G,:!SK<.*5!TJ6FX?#I% M45.E)5T6\-HJ\)G7R.GAT91)%_E94>$GN/B$T.-KBXZ':W*AZ.MV MU0O&K;SNM02MPY5OO,%)G>'K=7?NTB0&NF=7HI#I#MZ$^S4N7#MI%=>PLIN' MWDE;5]OD7CSC"L4B#Z$I6:2ITQ6I)6JE9>@LR`90BQD8[VYD#J'US4+.WUKVF>;NOM%4LH=Q.],!G+"U(T60CX MK\L9\^/\QCW.G`MZ1#?3B&91TR[B+:"V97X?W+0M_E0&:0N'PXUZACH,:+S; MTBV++LAZHE]37Q"Q&(##F)-M^Z%8E'6_Z!:J(Z,2;>^MBK:.NN9M[A^<*%WF4M7F(67@?2[1Z MQ>I.B"J^IR^_8/)81+M-&D=T,*E.,US3X3_JT5\=H0=U3JR]#V6?0^WW4/=! MOD3FR7_Y-[LJVJ[2"/:^X^ MO.;HK7*;J.)EAB^$-N71PX&UU?DMZ0E[UTS`7FBYYN0@FOOQ%'8H5]O_'(@O M>RW0O%C%29,MZH[5""M%2K$-KKA?43_AG]6*\Y<#=CJJ7RW3Z:QI`8DFT.=! M(_]^_$KET/CZA2I??[R[OKH\/[G_<(Y.3ZY./IY]0'?_].'#_=U89?_Q]#,0 M/(ZJGPU?ETD.J7QLY*_2'%_2'W6/N:>(/20YG)!83G+8$*'/C`QQNA!E>^GV-:[\.-5RKL`:=;JX+[DT2 MGNJ]?4*@O:&%->"Y_(9&,V-%#LJ+K@LDN$7A@?T3$M_WM(N5;(IV=.4Z^J;( M:NR*ZAP!&*4=5/65.6`X]66&7)3RI"N2`C8_F=&SV4UH8C0WP8/V3"&9F)5" MC6E)16]"LR45WO0VI`>;7]L196$L[:9E"L)F.@V@]A)")9R9B@SM)-4HXMM& MAKB"V,<4J/S:QO6^MI:E@0PX@["2H2Y04[DV51?S:2]0E89&$W#!-"7J(.:C MA)R70FHS]D<@;I_EUBPV#<,*;`%OBQ:I]VHV1!;`U-1T"VTKU!/-8A^DY?)I M7H`-P]"L`MO^S%(EW(T/`%T:6PEERR.)9-SO*#G\VX9R@S!E%\%5_(3I$.8. MQP`CHR'XW=M(XL`V-GHV_^:@7_]/VT0P&YIYV@2\E8&`S&@GBS8QBK@9N4H" M#]!1!<@HR=U&PJBE!M6UX,2^XST,/3\([`!UNX<(CKL8YU&1DI/G%!3$,:3W M%\VR_!9(<.GO-SA.%VG.#DGVRB5(KX& MP8A*'@\!L6KY5;!9H1XU^BSH0T"1:2SD:$[00"R8?FYPP=(;18\\8KS$Q1/F M;_C:0''5/&3F'F)BHW%^>79YUPKJF)8@WK1PQ8B'A,_X5[VNBXHM'F! MO)]_5"LF^W9-)TM2IN<5VA'%=U0&M_+ MT+EV/WH0M,3HC^BUHN?#>"VYG;"\UH2>,VQ8M/(ZO-:1-'Y-7@O0!=QK-4K^ M=_):*KNW\EIZH_>2#KM)7*K9#TT1^TQZO9=8EPJZH0HFF_4!I/:4IGJ$$$UF MZDEX!)*,6@-P`U]8":@G`&1*Q1QP>NF#:1-,\FB5F5B`S$.QN'["7(VE*.C] ME8D;R:VIJC;,@!S`G9:V[Y5UU-0=[P$U5X`T"%/$_O!RI4F#T!$%E@9!W=U* ME"CZV@-$+NA&O=S@Y!="$A!,1@S^H#*67.-;6E+$:0.I.6F2'R*T%YA/0D8) M=0U>W,&=UZ#O1+K,>97I5'==J>1P#GBU[&/$<,I^58$T1PWU"OU2D-(S].&: M[%W]7@7_%F!`T=@$0!#RX/+9(QI^"M6&$T#<_@23/]<_I8$:0AUU%PIS:#/X M2G1$8` M:V[;\=-FDP0/7@`U:4Y?[NFW#5'1(.YPJM(,=+("Y`HQSF""J2URN135D M`6"1"68,N09QAX/%@4ZSL!A,4+;%N,&+!RD&;=&%_G975[B@G[E>K],8=Q_[ M%6\?<#&!+2"?ZPM[HQX3K\LX"P>28.I/MH+/]VLBZ/B,+EIM!L=A`&I=Y"FK MKT$%NTB?V4^E$F80)O$/J M$NJ)U/1N/9!&[C$P.M+P_(VI]P=^!M;U"[#P*\D25E3BGA!*_*@'@H+8+0I4 M$H\AP.FX7Z@$92@`T';Y8/0!_>TPNH%VKFECUJ-Q'[70DT^ZTV=_"V8;)?6D M=%<_W8V.Q]JX;AA0^1EOI?4W(Q[,9F6B1R='W:^--V'-QI$?T3D?^[&WQMSXX1H.E6AQ@00:)F#`SIW&-@)*>$@29(."`,3/6LA`%UMP9P)'8% MB+B!,(=S(':EB<@Q7!9Q080 M[3!;):X+WNORJ-8E"`,:@`UL/!-(<_B^(H[K;9VQV_ISO"MPG/);:?ISAMD/ M5-"3+2FJ]#_Y[Y5*:$SL<)]P_Y;C<+TSD32K;1KUVUZAKG4._W[[*S0R]M70 MVCT_(7'364FO;?^^X-#V([U9.8KQ!#`Q?RKQNLZNTK6^8A&`.YPI>J"3Y3PM M>!%C#G2VUFIW0EMGKRMKH49&J?ASTA<<1IDP"QR")VX5"-U95]\E:,QH2.;< M7D92CJ%S;G3HKJ"_6%"7B)X:^S%TU0/O#J-L;WB]%CEM+J)X7Z!8`U@-CW/T MZN0?(X3O\\FZS>#3DH<3+6@\M'3!EM)M,XF'0U.E#Q;!YO^Q1=:0\='-CS`Z4VW!@^(8[ MW2EB]UD-IR26PLW&_CF0^UYU=TO)#`U][7=^O\SC`D M?-IE8O"7WG@LN3ZO<4>-&'DH^8Q-.MRRO4F)647Q:H/1NE-B3>E1O(F*1VH0 M!7Z,"E:-85]_O.@*8.I068N-R: M@5&'2>]ZW7G7/4^;AL6K15BK,S*+B&1M$)AKLE_EZ M#9BWP0($__9`<'AI4N-[T%Z:\J-F[UC:)?O3"-MPE]8`G M#V551+&^SI)5.Q[J+]GI*==EZN&0SFZBB7TUBJ81NOS$+/%?&5/:?\-109>J ME%!<>S2MAW#U,6?4Y1)/LX<\,'R?&1>A=LV$B>XSY1+."MP?\7.%[K_B[(E2 MD+S:>`YX7Z@[7Z9V!5BAKM!78;$5 M!:/X;0!/6&:">9;=JI`G5SF<58G+$:D_PBIB)H+3IHQR\B7L5\ M;+8*>S<`-8F0O,.-B(Y@^9/Q]?HCKD9_7^0CS(T'Z"D`/3+;7S1M\\SA_-Z3 M-C]!]@K6"#-Z25)^>DO^&KP'U&KL?8B=R2S)18BSK+R(BD?2/<`3-:+5Z:>` M?(YS$YKUD'(4,A;$>7I911JN`-+66(W/,&NAU>#XF8>N'[+TD0?YT0F37Z[J MPF*,G%YGD&E=M-,#ZO&@EBF<8QJ81M,91;J2K@FJ\P07*&X4YPX^++^N0:'. M:1LAN"@C:%YMLA?^'&AQIM*=OFHDU&BCC2HN![#$,@%T@#][[`Z M&GN"?XN?<%YC7K?S(]:A9YK4GIU$HV/>W?%G5HENK"&:'L\#2&E-7UFDMQ1S+MZ=-CW\I(?/"4BE=6M($-L=6I`2FP\+E.USPZ_OV-3A@,:_A<5^\7"._5+Z\ MI>U2&!B7]*XFBV5J^`>[$492[7(8AAQN27"6[<71;49&A.ZW(6-)I66Q(&CA MX7G;`946!P/F:2A(*WD-#ARN@'!.#2EC^:H3%D?!C(B=?IEQ;.1TOU(RZB+- M^()#9'0?\(0!_F4:14.-PC$0(.BDY8X-XOQD>Q[E?=>8CY;+:RYH60==QF5] M882/)-\5)*EC\<^C!J2!DA?,UM._U0!PIDLTK069QPV#S48AA`W"@A6UFZTX M1&+QEO%5[`3`.P#OB!:7)%?ZRE:3U/Y0/9!9C>OF+NM;1J@H&^$8W%K!V:\1 MPU8+<9*'!&T9*$IPJU#B#MYT"B=#:1J#`YST`'B=0Q^BCW2IU>/I;*%A^WTP MAT!S-+NN-K@(R/V#T3:V&$NHN0YV8!9\0;4](SF5L*9"[CW3*5Z3`@NZ^^@9 MEQ^>J<2$Y=>-BA>>](7ECZ*Y]L(2_6R>O6JB;Q(%N"!@RN%S#4T!HY3H5S,BX^)C@\+1RF9%=,^I2T MQ37ZMJ$^^(;7%N&6.@0VL4(D/XFK.LJXY+N"/*4\G_ZW#]K^=S\/*FU@>@XS M&(##+3RN0&=3(SKW6_.1G.:ETTE5%>E#7;$LJNB>L)S"^&@%ET'+:H@.5\>K M_9ZD99R1LB[P+W6:L!>[X++5D[#0A>^Z:?; M-E[]AT[HG-X_ZDU8&AL`#$C^;.$T*M/X)$_.TZRFZTE^I'O>#2DD(G-VB]XM M":Z[V=!6B+?&PQB:]E9(')#WF@SFN/]P7?$;3A\WK"1#6RZ^L5?6$YN67TY?Z#XXWFRCXHNI9+&1U<,#,J,V\ONL'@MB/*AC M":>V,7"4Y!=<-D/D$W6M5,K:Z'#6`%`G:6.'.N\EUFW'R8P[W2"YP]VOT7^0 MXJPN*[I1+DJ#?YLB=HZM28DE-#5_#\9?J?MYC!13)SL\?XVV^'H]D,?HC#0\ M[L]E-?*K`1.,JS%VOW3B!>M[-VO]*U/]KGEM!;OFO])4^YJQ[K\*I@[8DC&? MNP%0#+C#Y5AC/[=X7>?)51H]\$*D@#I*!D;W2S&3)DI/*#A0Q[)"#9//^XK7 MHPXT7X:M0GUG4A$4MRL%GHBQ:-P)?T?7F9/_N0QF3]*BV<*8%LQJO#9\Q7,_ M4B\D0K<>Z?(\-9Q8F?G1=5\?"IZ`!4R"G3]#A&4PV=F-S'/`8ET`P MWF!`I%OB&(`4SG+&9KR@B/*^7.G>W6A2Z]]BMA5(<'&]%N4[61$MS4IF09O^ MWH7-T%_]>LQ8SZ)KDJ6SZM5$#22IR@$Z@^'-_^IA,;R5[]2683LL`X<6C)S1 M5I`&;2J>:&'(8=6-/(3R%$=_>!V&"RH-N1"S(1HJ*^!Y.%/MM1:PL?9U/H"Y M\AJHK\I@=1U`$?7WK\ED)0#/-UH%>@,TVPN*H8-9;:^Q<(VVK_%RFV6MO2J3 MU:E/P?3'5V2Q$G9G&ZP"N"'::_ITN%FVUUC`]MK3^`#VRE*PO2I[U:A/P?33 M:[+7,7;GV^LT<(.SU_L-+G#$BMXO-]=^6Z%:ZT#?A<:Z;^M56*I6]>_???^. MWV$]X!>2!Y`??C9^9YJL"KS!6>QR.PW7.I?8)#/)`"H9.]+TU1CH0K,,Q!AO MJ3C-$VU]!2$#GV_#D_0P@Y"QM)D.`J@NY$PAC[8TC3:#!>F@YC"[?47B+QN2 M);@HV5.PZN4CJ2"/<$V,[K/?FS21\LOW&/[V=S_\]"5`S)G/N5D912I7/Z+\3^'LQ#BJEN'?L&=9^Z'W[CBXDQH3<(*-]&]$`0 MS..(Z>Y5`>'`SR#XW'.]8S&X[`M4_O>_XNW#Y*F5B<'QQ*"1?'(%@00QXAA@ MY.BS8/`^,YC&8#@WP`;@H`N%*U/XIY;%]X+A2A/LJ5XT7`43YPD8#\/J03$8 M#GB_>6`MH/Y74.\SZ.$%]>F:3R'^K57C4>G6O_<]NO/G M7URA#_S?Z#3*V-.-(YUNT+UZ2I*[*BHJTPF'BTX5?V!!M`U3JSXK;O^`'].< M93AA?Q>"'[57Z``$WR&]!"=RZ,KK<2*1M+Z5N/_^7HT5RU=.QQ7#^] M8`'T"R:/1;3;I'&47>9K4FRY:-KC$CV/VR6007ZY8MV>'/7H`SDX@8S&8/T# M'PJ7Q[=1Q4'=%\YPGJ+A\7!HJY9?BZ=0#EN,`R"?RH)ZWV5]V\>Q.,83&0V/ MAZJW:OGU$`KFJ,8X!'*)65#_NZPE552;DRU=;<61\J!'1^RA6M2$Q')Y*$J$ M&JH`SG7,W2U73]+WM*1GY@MB4:L[W%,O;,,YW(,.#V2%Z_^8+][@I,[P]?H69ZRRQDU45"_W M=$=71K&H'/0R^(MB1[6P/?=+FYEZ2Z<#33OL1*2A1YP!]=M:L5.YX9^][]0. M@@!I];1\^!==C45%QM(RGZS7:9;2KY2FJS$E@^NK,;7D\H%40XOVQ`%,F[`1 M&%V,@;K_$(@XH]"KZ5KM0X;CJB!Y&I>?RN@RCX$`,?)[PHM9+S5\6E[48T:4 M>\5*@Q@0=>P3WF-K>7<"T=*]W0!Q.FU&5B`]A%7=)E=5`K2@`:TG:QG*J\;, M;;)"E#(X=$ST]S02E)V]*-E4N24L$5%-@25RP$%58RLW[N4N_JAQ'^M MV?.@)_I_]_1[IAM=%8?[$RNE[-(ZMJ-$G!0Q6N]>`#@&THD29`#<(4AQK,4+ M7=UB*F&->0WV_I'7;VFUZ?-IX':8YIUC\T"],@:R\D"U+3'7MHT8S`8GKN@K M;7YXY.H?^H<$S]A.#H\T$$WTT.)<2+"A/9_'TY:CZ82^I?_<=?]4E+I>K&-"XII%./'3D4,J>;_! M*&J*H3YR%7<%6:<5V@I-28[**,.\<$31=,B.?>"MYRT,V-X&>QI+8SN0/[BA MP[WA64*&_FB#86B&OY+Z2ZM<>9K_M> M6_9"I2!)'5&A2^'FU8I8B03KA"R-7.F69EGX`D?U6\2>@M#O%N0I M+7FM+=T##"6Y6X>CEEJJ^=U0HCVI_S@>2,\/$`+J]H.BX,H4N:AE\8V&*TV\ MXB0BKH()500,A0$:BG%PF,I"./%6LI,X+NHH.\NBLDS7*4[,5?'`+;A/?@'6 M39KG!"?J\-?P'KNNG,7;W?G*?2BK=,MG9E%1;EA0#F5-*396VRG,)[JN5`_H M)>Y\E3L([SJGX_]4R-+K2*E?YK@NI>6+W.'']%>.1PPJO>:0=6F"7JD>K;$-N6"4J3&,H^(PL0&NF"S\K"G!R>G+IQ(GEWF7R_LDKM(GOM<5]8YK M^KOFCW0Z!4#Q4!]PGT#A4#TC)5W`E4!UVS1[E_HM:QVE^>_1/D'\_@LKM/\& MVG_$:!&NII6C]17OIS6W?A[)0KK.B;HF?_;O#0YK15*.BR.8D#L/J!_`WQSG<\Z]SY%Z;6Q?O<^@>X*Z#[$R M%$A\"GW+/O9[]N>AUSIMO=:EPFL=WSU5N#`[)P]=R8-KVJ[,:5=F+!*'_I;] M'+->K(6[#]6A'=-HQ^[M^!;KT-EM25&E_\D]+ZL:GT=4F?R1'_OIG):6S;WS MT6LA(;]'SJY".@;$.?PN31;JDN`U+@IV5MLI%:N5%>!4JAX08@KWR:-9EH==%#6(C>+[S[^N/(H%`,?;#713-1%^ M\]PQ^+YQWDMNO&EN2+U/!3#Q7T-\U`@VAJOC2H[%?R_S\V:G M)7;]]]&S]N4ID-_#W@"FE[Q=$/3HVY;S]VS)T3*W9W&YM6N]6QSC],F04!;&'H"Q36H%L;7+O-N= MH#US:)8&4J_3HS#HX=>TU``T6Y8)??X,ZUP\2M_G4K6PJ@E>[R8UI0_$GBB? MN+'=P'FHQQ26R9CU M,0CN=\*9`)5YIE$BRJ=YW!1X%Z5)N[YLMG(G><(3#9WPU;25W<`:#,"@@)H# M+:UIK3V+X&'C(J?5B69'XL_\9FK?JHD%O7A=0KB>L7@#%?`.S`;K9G.V![I/ M.^="?:0])T9IAF$K6@C`DE6Z`4U7F.F>/U"+A6HIU,E)_B9\B]2BTFR"`$AZ MM;DVJ.AJ_\P7$'9HVU`(%JC7%&J(70!;KYE@`I,/J'72.Y<-($)O'G(!Y@F& M;0BGES?1R^RCRXXW`%N4];$]M&PX0S,WLV*=!CN=!F&<58[@!C^HG,1:0`8$ MSOAJW5)XQF7,JPHTM558F6.7Z\UB_I,:CU-#!GJ<`T*PM84NS29[1'ME*2-Z MD[*MD4KL85BFK!7<''D2C1YS@`9H5J_5HSV="=36%.@#&9@6>CZMZJPN*[+% MQ3G>D3*U/%N1F0.PJ`F-@*$F+2=J64.S)H!JG0Z)5@>_QJ0"G=F4](A[+8_& M-4:VM.%7]DA/S2?\V?QC[..PS\,!\ M!;M7+8^98,+Z`Z'X#ON>L?0AW0="2#`!>L%]M)X:IY=(NZX)ZC7V86T(Z%<6 M&9##MQ--[K-[PHK'`W2->,[XMTC9)M5^4W>`\W'EL%XYIX\VK/$J/>28 M"=;7,N?V/CC;52_HEGUIQ6@)53L\6PH/?^UAJL!O-0NX$J M,2=%ZRAFET@!E"PUHFKB_34$4N[L@ILTKUHROFG0&(:.R;EE:#68\N0K),C1 MQ!V8SX6PE2)\D=L]IF;+7?_68,;2V!R@0'*8?:;>[3*>GSG*VOS,E_F:%%L^ MCT'2;D-;<)^?!JR;E/&EQ[E/QHUZS,$L`@^DY'E:QADIZZ*9.Z=T#F#)9PE7 M*0/.'*RZC-6H,!V`ZB9*=360AF0>XB\&4LJ1%N+/B/W==SB%5E(.H(?:.;O3ZR)V6PW@I@3CN4&4TM-@]G0^[< MRG7Q&.5-OMXSDI?)#4O+VM3S[G+Y1EE79`1R-GJ@]IT[F$/UB_0, ML])YYH-K0"PU<&E12MR,K<,`&H=K MTUZ&4VJ9M[A*"VZ#=LM0FU;8X.<4Y_:%BD2Z]95IY;W@$;-F.^^,Y2SVE'4##SSQG MTP)JFN`Q7N5@6_"9-Q,`B&<-KW20-7]LW0%9%FTO&;L,NJ2K(EW@$Y#?.7"A M>DF9]29`.G"UC!EQ[@!P:C5Z8WS.&#J'#C9]S--U&K/`P6ZA1+]XS]56C+&M""VJ.*3F<)*XQ*T\,,@$+LK]PF6VY5 M[_[PPSMN4^PW?VF2:M[D\6F4?]&LJ[74SJQ%+_-4/E1&B6X^GB%&&\22&-#O M+2C`G;X<`3S-52^;P,O>Z^O\JGT37K`"U$X)()'OK)\_XV4P_1_?QR8DKK?M M"=5QM+W?8$2_P)Y<)'O=6%&Y-J]PS.ZMME'!2JKD7]Z&84,VR)TR+'O8^HD% MO,"X22".=5?,:A:OD8`CZ96!@-S<&#%JJ<,)`X3JL`;JX"O^;PI)NO`_-8P6 MS#N_107>D+K$=[LHQG=_K>F_+PBI_C7*ZJFS$0B3V[G%I,%$41Y!CTK&@`0' M8BR(\_B<.FR589/%$_L;FR"^[C43.JTII^_I`02PP81@@2ZG1S$\]^]]]"QR MCS)IQ"%H6]]/?Q!CYO9Q#`/0:>(01M3@H6Q-_MP5ZCA1Q^IWPIBGVUZ-Z%AJ MV#UL/;(:CH_#H!8T<1AF9SX>_<(O!2D-9[*3#/ZMOY4<9/"<^+B/0>=:NDJ/ MC],%Q-`#7I-"3*-'MGV;X'ZP6GP(PJR,IC<.HY5/6(8[P[[%Z?:A+DI^MWF+ MGW`^N1[6DSLW:H748\P,R%!#YQ\ONCX?H\7ZPF^,,"#M-X2E*:0HQ(#>4:A8?Z3I5TD\DZ6SJO88--=.`3"2U!(R&0T!M M=Q3O#-G7Q7E:[D@99=?K*\+J'SSA1"Q?+,`VJSGW0)RGM032KAE$"M0VQ)PF M:^H-;ZO;9P2-X@4HD!"^&`).KT.F,T?!$0]OPL=U"52[B:N'?HJT88:TL+%L M.Z83%Q4S!M1AR-(FW>W$VYU_HL-"VW\\(Z4%8J$-N`]9@FHFQ?,TC!RF+2MB MO&%#U6XHI&>/H+>K^PW:7D1>,^\&I$+#:->,[[MZDI3'POFT`#:.7PPI( MFS.TAN![BW%U'K3,]!^J&D/:;`GI)` M!TJ^)+$9)9=)LQY*_->:>H\/3_3_[NGWSLDV2B4_,LA M`)RI?E^PP&M>9BA'?XK([6)N+*%T?-B]C_$^ONH>':QG--WISOS%V?B9*`RO M,?L1G7-S'\LIE71LKCP:B@`R[9LD%J%'S=^;*QO_/FD2#V-?I`&#:^0:(>L- MJQJ0!H)-)2C#`J,>A;[@!RL+[+?ZK[X*;N^O`4!2+ZO`I;'NL$MP`BKS!E"` M]XQLMR0_RZ*R/#6N[:>(?=QOR!)/W&)0(L2IT&D`:SYS?T]<1V@[V^6EPT/5 M''8PH=**G4RR!W,G><+^=EF6-8OH9E=]^DL'JW8\7#K8Z2E?.CQ4W0/J?0OB MF22[2N,$;2O\,OC@%9UM7\`LTWB?LS16*^/V#F4&5.4[E-DX=9B'E#WI_DCR MKMRN".-KKG8T5FAB=)\YU*2)E!*49RKH1 M,'A)Z4E6BZ:\C-W]<-52FVU/,=E7*2[J8NS]NP%SN_V#,M" M+WFQGO/W`((9M=R(LB/!CWH-^+RU7*#D+=Z)'+8E2O:$[#JSI&IF0LTZ3Z@E M9:P_Z!]&18I\WV?:(G=P(#@/MBZWO+)\9^0)TS5"=8\+[94G@-?#]MBLSZ0= M$LD.6>9JP8@XIW\'#QXL>=-J-5(.'XK)3V-.GE,=Z)0<[A^#*657++D';Y_0 M9T82VD6\[,&R"_BVH)>MU&%YZ-/V4H02%3K"$9E5UV. MM1$^1@VC"L$K:$C=7E7L%Y,WT0O[CVGOJ6/R<@FAU&#RQF%/O4(-?2B;3/-P M3)V]0\;"%Z1^C:JZ8'Z:XAT,J2&39TB--#!"JJ5'C"$T2$T-AQY2ZK%8<"#= M#P77QTA.4;H]9)Z451^[[W]=;^CEP3&IJ8N=ID89E-&^S*_;BY&S:)=640:H M\F33B(_T*7`-)Q*JC"N^L_+I70NH:>+XA4+I&@92KW>!KF>\.GS)]-O?6C8Y M\EAH0+8/!0J@Z*<]<">2RLQ"[0(G?(?C,U)NR:'EAZFKY8UP_4Z'@\@/[! M*[P1#^?C%AI.A"PTS*(0X(-(7#0`*^HUX3<><)&J-YVB.C+W,\Y/ZL2ZK]SPL,>83V0_O M#4_T9K3D^!W?'%TE*-)&4-,*$LV@IATD&D+OT0F/R!5MH1_>A[+LF3_8P]># M"T?Z"'#]YRBOH^*%??N?Z^QE+E:5S80!5+66-BAM6FE@RAIZ!1`U##`(GZ#1 M]77ZRPZBP:>^@MCS:6\CL?&4E]'YGYW5O:T_U)6[^L#1Q>=X'=49O^52N2LC MF_]8XJ$6T!#BAHO?:886.*S7:!`O+)0HV,7LKB[8"XX*5>0U!`A/@,\8%ZQ$ MGB_7>1J5:7E'QR-*KO-_C8J4U?YFXKT'.U1=$Y[=K%8[H_/EW$BPL]U3VX#& MY/QY9?-`ZGTU=!3]!KQ\RNL2LXT=_3>+;^X]`[O!%$K45SWJCN06M!E$,`Q4 M?W!HC&@0M2VN1@\DT;Y5_X!?#`A(Y,P,-'@[F#XE14&^TJ6Z[A!/P^/[R'D@ MO_E\>4_N'XO&D3`<&JN&P?>SH![<3[:L!KRE,YUL(0C7.:V;Q4.A@5\4#?C' MH>4HPEX-&89PP2;N(BW*ZJ9("8OUN<,QC_FY_IKCHMRDN]9&M%/YS';<;O-F MZ"F_**)-H+8-U#:"NE;V8:VF2=K-1O``.O=VAKN.#JUY3^S:GBC;GB!=3Z1- MX[ZWB7/A/=@W+L/VH8SS*L6YI1V.63R:G"2]P;H8?8AF9-0#9#$9;24HTY@& ME]H*=,A:$A\:;:]8[,E'4F%#?.@$I>/XT"E9)31$6\2I$",+Y5Y"WMV/0V5'(*HAU_.X'7R#_'*:K9:<'1P/@X89BT_W9JD* M2Y$?\34H6Y73QGDL)BH:G79)2*3`CI0A MF!S8!QR0O@Z3STC&Q"JBS+AW-#%Z/CB>T,1X7+SG"69W"!L>_<&P?FS\0XUN M4F?@C',%`S*A@PW"*$>X\.H-"11;TG@X3*5/)RQ>49O5[^/''SN2LQ6U(4V) M@<]]:GV#'F-X"3*TIPLF7PEH1*1,^_#A6+"2_)2G=-[EWRK-J?=5U&Y7CTJ9 MQX@0A$A0!I667]_M@V42I,^7/&=I'RQ\*B/^CH$]8L"QX0&+GLGQDQ6#!M(C ME>Y%"GN%(EZKL.BWNP]G!G@LUL-0OGZY.BLK?=R]L8&`;/BJ!HXPOU=,5X!" M6P:^(*Z3^GH`+Y$"*[`%&AW(A9%B:-SAC)?Y6M.],0=]\92RW,?7ZXD\9N4] ME:6<_I,QL]AA/^,)S#7">_O.#ET4\9(^XY;/^K`/!@C!$('`EW\"2.V4DH;?R&9-3'XU*WJC6SN-W_Z:67 MBE]UU*@E#V0="QV*P3X)/`[N/.3HO,JX#%70._=N*KE-YXP!K0FU73_V.H!^ M=WEH3>(O&Y(E=+$I!`/D+-(Q>3BNUF@@']KLB5$#J).J*M*'NN)7O/>$W6]S M=!T[*Y'A4&J>?AM>)9T3_^WO?OCI3XV2_DW$##3Y(!Z&,G?&\A%_[?G]@N3T MQYC?%91\%G@1_W^/GZM3*L87C0G9-^7^^8KZ$_^@D958"+R@S\U_ M64N(-^79Y`Z@^2UF069JY>%*NS32N0`?F^XR=#M<,D5%SMY.W."">T[V>"UF MN1/$'D"W>#)QNE]&&761%E0-!PM8%3L_\58Q%M7L!-]Q:X,F:1EGI*P+_$N= M)JSJVD$UE+1!WZ8Y2EBT0,'B7%')VE&4$W.Z@(0!45I*VJ#0\UG-]9J+V-M1 MPZUM;H-AG-1`-(<>U)#UQ!G-A-F&8*\'ZXQI,^:V6P9@O,O@#CJ4LL2ZRR5Q M=1:5&SK'/Z4)3DY?/I4XN$'?LE91FO\>[8NS[EMF80AMVVC?>`#UO8_2.S'KG5VO M=]9=GT1=>_[]PV%L1%YC'\Y`EL0QD;K:G*R+-#8EWY4)'<P%Y'FW8X,< M2UNT$PA7GI!8CE'NS0(-60#[39#L7,I6Z/Y\YM\>U&B1(ZGU4%FPMY/G MO[.ZK,@6%[=X7>?=I/>BVO-9-.!V+VBCF7*MU#*CRQRU[$CP=V!2W+P?>Q)9 MK&0OSSU/H]HPEFA-"E3@JBYR4=DHRC+RE1T$'[RV@4TV@"6JLM0`:;?^3;KU M;U(7["2IHG\N\(X4_!9WAXN4L`,X_OM]1H&V@R@I'_^VX)/W]`#6-CPX59AI MP$M2;#3MG],N+].JU(0C&>@=I]90RRVEU6BQTM(:8XW<)9,P]/XPD02HZP^( M!=A>!L[J%R&PI;P,EN#6\+9CI0510"OV5K23Y(E/<+RHAI"R66D!8B5M&G&^ MPK?24(G,EEOAZB8?"+@"O-TY`)%%P%\S#$.`1:."CZ?PDD^%L\ M7C+]>GU!"IP^=FMR.GD6.*XNMVRWHH0(O`''D+'03(*0>'#)F=EVK&'OMN5L MU<0:0*(%KXGK%JAYCLNX2'>L>:9E3HIME+4)Z2JN/-VLKQOE]YMVEO!UAQ.4 MB$Y(>?N^=Z;62!Y:VCP8.[Z.N>9C=4,'LW1JU.<^S%<%2F_231V=XR>2SW8Y=U11!@(6A-,M MJD"ZC"'UI6%"`Z[0X`0?I@&6;,?(W1KYUS3G=57:559776B_?#]]80'B)*]H M+V7L"0HGT:R@%[3I?'V]1'_I0=.`K-L$KGJ%NO:MLL=.(P9!YG^1OA@3XR7\ M@0"QP+TV[QYN\I@E@M9>OTV2NG6@T])./51A9.CFXUF3HCN(JS=-7P^NNV:GMSGN&NW:?+8![%'@W2^!@0'VILM2">R7F/VZA)?4F>TQ??1,SO0 MNL5,[31+^.NM;'3*MV9O4_>QX00E*RD$/CQ^%=&AV+H]*< M2%C%X/XN326YM"EN"%>H)0U@UP+K?^GV2=/Y5'JA#7767^B_Z;_H#P]1B;EZ M_Q]02P,$%`````@`9&4.1^<^EWEX.0``3J0#`!4`'`!S;61M+3(P,34P-C,P M7W!R92YX;6Q55`D``YP:SE6<&LY5=7@+``$$)0X```0Y`0``[7UK<^,ZDN7W MC=C_4'OG<]WR0W99'=T[X><=S[A*#MO5=SLV-A@T!?L^C#*TNS,(G_\LOAKP>_?&!Q MD(S#>/J77[X]W7P\^^7#O__/__[?_OP_/G[\\!N+6>KG;/SA^>W#E9_[3ZD? M?,]6_3\<_GKXZ]D'_H?CC^?%]./1P>')A_]].''S]^_#J&$?)RA%^#9/;AXT?^.U$8?W_V,_8!)A9G?_GE)<_G?_KT MB;?_^9Q&OR;I]-/1P<'QIU7#7Q8M__0S"VNM?QROVAY^^E]?[AZ#%S;S/X9Q MEOMQ\-Z+#R/J=S@<#C^5_PI-L_!/6=G_+@G\O!25&O/[/Q+R"##Q_^G"81>V"3#^4$_I2_S=E??LG"V3SB$R__[B5E$_B[ MV7A6BOG@]/B`]_^WJR0H9BS.S^/Q=9R'^=MM/$G263GK7S[P<;\]W-:FGP'7 M\'\S/W@)8\:I^,2;?9*/]`DFVG*JM_$K#)^D(;E'@$"U.[@Y\932Y3-@X-IU3O:6,J23S-63J[].=A[D=WK%R" M1E,2CF!A:I=%EB9*%>68VK>W>%J8T>H[":;EBLJ=D]0O939(^L+Q( MXPPTY3R*DA]\2S*TFB,0B$+\3\S6Q^HOX6IO4;2Z:I/W\)`S]JO"NC@UB8X%7!GI*;-)D]L(A_ MYN_]-&^R..:DR51..:_<>%'7-,?7Q@S7OD:XUF8=D48;V`X MQ9D?E*O7;++X*!:F^+N?PI#Y&WS(7L/,?'*B_A:F=0V-DC?&+L#^G(3Y/3!C M.#'Q"#:VFF(V\].WT>0\")*BW,CN087X5K;Z7\.]1V=`Z\;7D_\/L]JO=9+8:P^UEBX<-$.;PPG+^(;2]WV\,OKMO?Q,& M%$/MY#/09)[X*+O==Z]8[H=1]L1^YH6I:A@,NRLM?\SA_Y?K:S09S;F_Q?P[ M;#2P'<.1FWOW<7#AQ]_;$"`?R?IW;_D#;3Y\ZR%V].5K-$7I0+N=:"/:=<:S M[$=I,UW9.#NR+!JI@72@W4ZTF5PUQMN!HZC-E%5C[>,S<>EG+S=1\L/V5Z(R M[KY]86TH:?5#N[6X&ZUBG?'V,NUF"T1_V)VX_EJ9@\K1=GS8P/U?Y2 MOHP=@)^.DJ#V:Q&/6DA2E1CXWWBR'SA_SGB\1KX:*/*?650.[VGW]8[>9:0[ MU:5>RZ2$3S%W6W#NN M3;=*ZGE:G[J?!JO!X8];C-9C0)8M/LU+3^-'8#E:*\,$]*F!5)=S2?1`%1E, M+YGSO^/+/4G!QOG++X>_?`"($Y;"T?9N(2$40CG_4HS.&%V+YF>8Z1-;[>4= M'@R.7%*LXDF+50$B,;]''>#W*IGY8:R@<]&(8W6Z0/7YP'FL01'3=MP!VBKP MN7OL-F*?=HVD+@)BG4\(\K4#?LS1,P'X;7_FY:E75VGJ? MN\<;"D3,W^<.\'<39H$?_8WYZ0W\C>K#MM':.^LNAP(H8A;/.L/B0BWU>:RT M]X9=9W(#C)C+(6$N%V?@!S8-^=$WSK_Z,VQ#%34%.[M[%*)`D%/\`7G^+@%_ MRN\HQNSG?[$W*8$;;;W#PZXR*$*"4$C9$W-9I&GMTR"W:[#FWB%%SXN"2"D8 MA$O*7I>%8MZ$$4LO`<8T2>6+L=;2.Z3H?=%:BMLX$/(H^UZ>4I^_U'Q\FSTG M$4);K8UW2-&]HB!L&P%"%66ORO(#D,QF2?R8)\'W,K8@&Q4Y?Y#*\B:KJIK$S][+G$5V<>I[\^YPIU\ M8E&>K?ZFO-"K:-[RK[W5#-ZNX+L5)5F1,LEEGD8O[W#8;MU8Q<)OK2_@)[^; M@5EW\XZ<'@ITY5U?1=K`+%WUO;+T.;!0R?RZF0T5I6R MKW?4\HY\![C,UIK),-Z14QO2C!7Q"C2&VZ,5>5=-,.!@)59__\8/P@BL"HU% M*.OF'9VX6G]7[-EPJ2$]O".G]SW:8A8O*!DH^X$K#A:-*`6&@\53E[/&LA%W M\([.7"T8+LDGD"2?F,YR$;;WCIRZ]36$*UXF.)@^+)*MA"PVPALW!U6%-&+M MO<.#)DJO.2N]3X!N5SY7IPJN(\FZAAM"ZX.ZF^7S<7'F\=_*]]M\(D&0%GXD M6ST:O;SC0U>?C64@>;:<73DS4)+0?^8F2EA.=Y2_L+3R5^_JM[P#T/G>V/TA M[]CIC8DNI^*OU0Y$T:-SE"PGEH/%+GNU9V(P&HWC'0]<;0A:\]19\&8#><=. M7??-61(O\0;@>[2$!6GC'*S<\C*E-HNO2:ZS5.4=N:5UX&IUBJ=FMC"UQ^!( MG4:8&!$B7HBF8'NT"K$$B2Z6(IORO?`!SB\IWPEU%B'2Q1NX6WP;4S)<=NK> MWH#&EA%`9;;R#$;Q!D[#@HPH M$:]$4[`]6I$:Z6N=F*'+/$*CR4T8PUQ"/[KG;CSY.W*3[M[`60S*>GK8FW)Q M0^^$1)R)MG`QXW(+$YW7Y!8XO8S\+!M-2AL:>5FN[..=T+!IMJE2<"H$0N0L/3P48^L0<;^R=D'"]RGE"O#)B,'2>FK=SVR5Q"?#\"YL]LU1&ZE9C[X1$ M[!%"$.YC$Z"P],Y\VZ!Q2NJ%":G+QMZ0QM[;E-4:##HOT^T?9R[>JO^B^-+J M#^*=D#C,:']Z#9'1>0-O1R.4W^+MQMX)B5L30^+4[%?0N7TICX6I)-DLX3M5 M$8>+.FC9I1_[8_\N'Z,;M69/[\3I(WD%':+H%#U(;A_+(T3"WI1&X?0E_^*G MWUGIN62O+$K*H&4EF7J]O1,2077ZA!K`=5*?#B/QU?Z2Z_>W#LE<3AML-8$.!P_B%<1=1VQ($\3V/0S MV/WG?ORFSYJDKW=*PFIM0*$*E.-'\2H^N=>\F+&T!D.?4GEW[]1I^J86K&K@ M(O1@OMT#@GP50P\_ICB&BII[IR0L'>T#)XJ!T+-Z>X0JSY?B#MYG$E9Q,4AS@<2'+":.D*7L<>%`EVKYZ`/ M+&#A*_^\?&7Y4B:R!2GIYGTFX6TSI5<)":&]D\$]RWI9YY-)&(7P85(SCO3P M/I.X,#8E6X8&X;E;+IHEP/KS$&V6A=V\SR0.>Q+O4S;WP_'USSE_3K+*QE`3D(1;C=[> M&0FWJRGENL@033!V'I'X3"\GO'@?PBZ3;(U5OL3E';VS82=50`<50K^QWXH2 M_4_^SX6H*CE9M,QTO0$\&EZNIMJ@`0YY9&'L_Z*@%+I?@HV=D803S/A,MH4! M8=+8"Y8G/..CV^\\DJY6OK/+NGEGW?*(*;$@;'?2,58Q5[XF<:![<&YYJ($`7HICM-;HIHK7?M,3RW ME\J-]4$/&*(6QMXW"FJQ@*NTT;PS0@YS[8NL&#Z%]9X)_CX42#?B$ZE1H@P(CK023_< M1M)<_?O1>@=O2,+9KB!.?CTJ0(0PW4F7&T_0N,*X<67$LP*$DY"-U?0;C`(B M)W&D:Z04QCB1_!B==,25.?@:7+`BG3P:/OE&>J!`A;!N[K1K<3F'!/5NYS^_ M_AE$!:]\>)\FXR+(?_=37NSY#>>VV4#>D(37W8CO%D@1'>BD*X\;S-FJH))Z MS8N:\XR_))RUC=:[!!'"M7*/AHT;[?V:+CNFG&,P$$([J3?;K.VC9ID MI`=7_NZ:<7)0".&=],BMD#ZP21&O/V&2;[M>1V_8W;U<`QFB`<9>/@H:L&&B M+"OGF!SN-$?P.GRN,X&(*$=/?'U&/CYO2.)FIJ%))T2#L&OLQ2/@X*_8,UH7 M?>K&9>@ M_^I'A:R,A*`UB(2$VUY%&F;G(X`0CCOIQ5LD]=8B>+,I]X!TEUTQ&H3:3OKO MSL?C<`'DW@_'M_&E/P_APU(!+K/GE)U!8"3\M\WHU\6'*$0G_7L/+/?#F(VO M_30.XVD&AFHQ*Z)%IJY)&(3R6F2JSB`P$D9],X70Q8O&;4ZZ%#%*&U=V__Y?>P*A"]*X=Y M:K[4L$SURF*-Z[B.,KYGE/(\"K*:ES:&]08D_*M:1`B"8VR@[U%5S-4-TGV: MO(:9JP59O\Z"+?&=#9U%J=,=]M,S(E>:9O5IU9T!&@EWICX-6I>:*-(>+;_K MV3Q*WAB[8#$8^#E_9^MD`?**!`SVPE)CXC$<1,*T?'KR3H+&.C08Q?N\D=/` M'5@1!SH+TV08@$O"46',$.JX,H1NO_+M_A?K8S&;^>G;:+*\;^/QM$D$QW*6 MK?[7Q=K=GHU.PDZTDW=X>.AN9:Y*]%8BW@W@D/`0JP2.+305LIU] M#/?/_K>,C2;761[.P$*7W>36&WJG1/+,-F)8A*4/=:3A;#5^3P*VE;ISHE_\9+4I$ZN_]C<<$8CJL M.BUADRB#C99/C0.06UI.?_6&Y2',OJN5PJ@_2(*$_]A,`1I`M%0+7%!A?W87>L_3Q!02J3[RB)TB*1):/9OQK@7-; M'=O670TH>L'`*DJF<6AV+E3V!3&1\)PVTP%->)9*:U/8#$I5O_`S-JYZH$;S MI1_JMOPJAJ^L]$`ICQ@-1O,.CTA$D393F,:`+17RIJ!"YV.811YR'U^9^$Y_ M-U'T!$F1"#1MIAI:X&S5!J>@!P]`#@CVA1?6?J]?OTQ>KMPZ-'J#R#KL>-0& M:*L,.06=N/'#M`S$'4T6N3%#/[J-05@%!Z_^H&CU![&1N`IJZ'?0AVBKH#D% MS8!/8S)C3_Y/DW.GN(MW2N,JL.FY4X:J%Z7.;V=S4'*NSJ/T*LSF2>9'HPE_ MC'D'MM%XD5S30`\:#`?2[/"YI#GB7E161Y.FZ^N,[A#>*8W\-,B@C/.>H++E"NE@+7V:DW#G:W)@:$9OP.S1ZN-GR9REL^6+Z3OF9\S= MZN/YF8P^>^(.P)*SD/CW??RFR&%.7\(XG!6S4K#W_EMI4=TD:57>68-O8=/! M030DSKDRXE0?R';8^Q`_SQ,;A'D)&;:IRZ2TVEG,C7UWBU+X_9T# M&U_X$2]+]_C"N)NXI.F%Y6$`8(WV!SR\5..G)"N^P2C>X$A317:5S/PPEEDA6XU!$"1,9P538GHQ.'UX#+-(\U4B//_"9L\L55B7 M]<8@"!*.>XPBA%`$!XGW*-9YO3#A==G8.Z.1H[PQKS4T/C$WJW*<.I\ M6]>-06PDWIDU^*AN8+#TJL0IF>=1E/S@=B2/N@,`'(C^BU0?7H,4DG# MW>#KK]$;1$;BP9B9'F@#Z]/SCPIH@Z^^I!>(B):GU91[,2!;[S](A]Y63<0$@G?;$O&MQ#9>H)!X>KY-Y9,4W_^PB\0 M;^-)DL[*'W`7B/+(IIRJ!S9/4AX`H%/M"NGB'1X[RW7\'NBP3$^1\?S9UT!3 M"DJSJF7+HRDV'H1=O%4I.4^9WR3FQ/:/@BAIG-.D5*MB3G8CE1X%HFRG07<: MS+W[9.@#9SE>W[5R(]_WNK)U@V6O-Q3`)F%UZU.D6M@FN'NT7"69F*]X#:6H M3#]=F$:,$2*BI4MQ<;X/I0RC8"M6W.)NS()R$;*R,"$/[@%AH6+8X9]C73XJH M#[%A*X@\RV_@9[DRCDC<@=<0H^%ZDE,FYUF(R5+`F./4EN)25!=OU7]1[-_Z M@WB'GYW>.S7=U$T1]B'FK(I,N<5O-_:&`Q)[NREU:@6HXG,;CX98V-_B,.>7 MI+R:PX4??T>W;DEK;WA"XH88$[S`KI8!Z4,:XK65LJC.R?.G)G'Y+$S3O!;U M`VEVV\S&05F*^G+*^08ZY3XL;,_+=]"ZYL=)$[,M@V4IP,ON%KRMT7>2R&U5 M%XZT4W:3)B!;L5IVN;MG*4]"[4_+6XN,I:^L?!^_NJS`"%3U`_O"_7-&-2D" M)O60V8J\;JYN+V]C[@H?G\^XM&1W\*+V(`^G3OY&3&L@LA5/Y93A M9=FB6NK@,"\6=8L"[K&_8O,D"W.93:4_"$C.Z=N;5KI@"I-&\!7ZZCY99#9X M9954\^LG)LMT".][';;/FXX#HJ%H8FOL^\V0THC,:J@$_D\[2K`Y#HC&J3MD M=TH@1KJ[."VG]3J6U0=DMZA;C;W#,XK&N]X7`(-C*^DM!7ZEA2:D3D])/Q!3 M]ZQ]`V2[RV#K(GO>8L)/_L]%]!E_2[`@:K7-2=1`H[=WZO:]32MET,:'J$2W M/&Y;:']+DTQV%!!W`(ET=_G+("$D[\O?9H?DW^%4\Y+#X19V'S!9OA;\IN`J MC`I^@;`9>'X^_GN1E0G8)%K0<$1OZ+9Z0BLU:849"8;9E^_/CAZM2]$L/XT7 M+&:34)YN7-@#9.+TN48K/9!B0GCNEE>P?)&R*%+(4QRK34-Q!Y#BAOG#!1"_0':R:]R(11,N\F\>')()H&RS< M#0Q]>.OPZ$*5"XP^'E.4>3 M$MYC\BX[8=J46DN0!(D7V6:<"D%8>HU`@<[RQN$^3>3>U$HKD`"-=V9&-&X! ML/10(4]X*2>7!*ZKR"S]A#HOT-$^(!NJV8PDY"K@]"@K[2,K_1T:?O%:0Y`# MB;SD"J*0KZH`2H^2S?[&8NZ&/8_'Y^-9&(=<(-QWJ^98T1,D12(3>2/2M;#U M*07M%8,Y!TO??,RCP=,\_&?YG]*8"+07B(B$DZH1_4I>B0^]X:!$++965FCFT"L?5JP3VS7Y,XJ:-< MZK"&\:WLZQT?T?)F:;&N"8O&HP5;=V"+:T>UJ;;1$D1!PKVER1EVCRO`U/HY MPG!!;\RF_+[3L4GVG"_3(KS7AKUA+"NCM9]SGB69!^5R%Y$\<-5@'.]L2.*+ MWDHU&B!N_6H@*4F0#2CB`H$A9]*]70@6CKR8-[.Z%_H4?'1QUT MXN]<(+9>9%#16!N1UL='';PGD()I_22#T#?J*\NU3J6U=B"&#EX/""#8>A3A M?KU>^VD,VU&V*LBC<0#%NH!H2-P2F+$K1V/K5<1XG;7[MR(<+QXJTB#\PL_" M@-O5B_=`!KQO].1!NR0N#.2,ZFF!&)NMQQ.=T8;2VC:K*=!P1""'Q+FUW>9A M!-;6XP@*KBSA$\/1I!1*Y7&A_F;3;$"^3DF<<5LIAEC76DG$UI,&;.?:__N& MJX+QP]A]'/`007IP67B]/BO01ARVR@%9+]RP/YMY=OX%09-TI#Q)R5+6]G-J]_% M1-[>SSY:+W_17M[100/[VC*8I<*H'@$+VP,`$DXSI8RQ^PX4$QW[W/6SX",: M/@D)5V)R)6CH6/-47@!Z\57V:YXHU!$"2B:(W7+P:E M#X^$U]AN^.N.%S8NGUCJ\%KKX!W1>/F-4:4@5H"E1T^%2R_Y&NMM7)8%D\:2 M(#U`,B3B91#(L2LX9)&\+1];TPH=&@- M59[7H=H,9$`B&*PAIVL$EIX2;X8-[=^C<)_R`-S\[3P>\YI?9=IQAWZ%U71X MOLN\.B<-[X*RKW>T$;.ZUS,*?-V+B(TFZ#25N<0LA8F/)I,P8.OIRR]-5?T`,@G'M#8[@NL[/8Q]<(?<%&D< MYMQI'X]OPI_\3QG*O[H3"(:$R[HA^;H`W5[@(@OZ=Y#,2P)3TUS(6'N`2,)M MV68!R[&1+.K^)8G&_)WJ4Y)`XZF<.V%C[^B8A`.C#7$28'TH\?[@QU.5:;UN M`[!)'*QL&-`;H/I0NKV$I/Q65EH!=!('H@TN)(15Y^VV#+L=RI8%396DU=H! M?!*GE2U&Q,0)YNZX#+LE[A9U2-7<5=L!?A*'$5WNMN?>BZ+KZ'?C3N-B7=T9 M)$7BU+%33],&VEZ4:D?!JFHRRCMZ1P,2'UI=+@TUH8*11CUV.\IP'@3%K"B3 M]U33,,*?(R;(QXB*1Z(VMGX"A$_")&BG8':ET:<$:RA4^@-`B-AMNQ()3:![JZB/*DPAD9/B3L1 MS3`8NEJ*>XUF."$1V*G)1]MHAA,\-6JG3A*6'ERX?>C>C#Y$!7"`?8A1L/P& MXX3$Q8F$,VR=2Q'UX0W&SEU')QV[8\&7O"[:/L0M5`^L$@6H-@/PG?$*G:#^ MP6U$.WNXL7^SFDM@-+F$*8<$S.GJ;&Y\7L$<#'ZU)2WK!HQ]=K5D1/-26 MA-A6D"FMVNW&(`@2=^ZFU*D5H(K/;6`NLN,_^+,[GG;ZBQ_[TT5>]'PLW]TE M70`HB9MRC`+!GJY$XS@H%S.+)^N*O;(HF6M1J-<;\)/P'1FP M:0+,<<0NMB`K8!7K<*NE-Z11TMED^2$@'(?-*G;+KTF.ORA!6GK#`0DW08.] M<1.$K6A6MYZXNB]:;KMN-_:./I/PQ#6R43$XMF)#"1&K=K(*FGM#&LD>,9YT M6*TBL17LZ?B0\9I$K_!)K^-4O^R3]0/YD+@OP;G##AE*4+;B.-WF/0AC/PY" M/[J-LSPMRL`Z^5:-]`"9D+"-&NW74DRVJN$ZY;D\;L-D^9OR1Y:^A@$OOSH1 M`,_XZ_1,_$_*S=[FSWC#4Q);AU0YQ/ID7PRV"MPZ5<)O,<`8\Q6:K9:H\NN" M]O&&-`Q$^UR+=4HAB-:U<2DHB&CSOM.(;Y3V`Z&2,#8;?9DTD-FJI4N.^=LX M2)F?L?,@2`LVUBB\;C`*&/HDW`4:!.MKAA2KK5*\MJ]$TX"+?0I@``8OLA)/ M;Y@P=[&\`Z`D$;UNS*@.+%N5<^V25X5ZFEVU$&Y;T`+XE(]&8T MZF"S5;>6X(:]V&\>_)Q=%5R!0:O#1%:FUF08D![9:^L66[8,K*VRL^1499GA MY7R6%'%>J;[;0FUTA@2IDK@)MZI"^L`1=>J6G_*J8$])Y98E9-FRH`N6EK(8X41TPW'$G`C[8_%\%\Y".#2S+$C#.?+VR:B_-SSH MYK>E`4J$Z6XY-$60+Y-7%OMQ_L128W=!K2_(J7^?"0%"1!.ZY544897O#)H] MO2&-VE96M6`+'Z(#W7<474+3?C%7O.W[WN]_Y; M^:!<\;G`.X%DNNERTH6&D-ZM!Z!UD%_\',Y%L!&"DFN37NT$DNFF@TH7&D)Z MMQZ"UD%RE=8FFS?V#@\&W?[XHY@0>AV_!Q7;*A._B,K/D^%F8/<+T_?$H_JN?AOR6E",^U%[#^!`@-1+I3RPM;!50 M1#VZY?(3R6H1#W'IS^&_^>%V-@MS+I`;QM[OT@R-?:TQ0:[==!590HYH5+?B M'E='G>7-W$62ILF/,)[*2^8B?4`NW787*9`AC/?!85C1\\7]B;';<&L$D%FW MKPV,<"*ZL2\7(F)-WH1IEM^G8<)/-H\L*$\XHQ\Q2[.7<+Y2=^EWHM$X(!.R ML69J>[,96D0#'#^\K6&Y"UEL2':]"R`E$8ML@5<1,"0SC>,WN)=)_`JJ!Y,: M36JOZL``QCB4]?&&'3W2:R)#6.RRL^XRB3C2U(^47V=Y1Y!0GSRU8GB(`G39 M"<7?KSD%>YX4\7 MENF.7>0YYOOL59@%49+QDM?J#,?B#M[1V8&]:Q$0T=.&B+!DQ?(.,"T2$0LR MH8GN0.1X_DA0O)4@]LQ]LC\%:>(]3P'IC^S$,0B"A"6K8$I,+P:'9'9BD0*O M/]PF6^_[U_[HS*DM:KXN=3'UH8Q&%5YV4^3P95K6CU[&1&57A8Y%8#0.B,^I ME:I+,+*>S:&ZS<*\1TVY5#Y!,1D&A$?B>K$!XRU4IP;>4C9G"C55M<#?QD\_ MDK\Q/Y4F33,;"21)XEYROVJTB=]2NNC.:%);_0&ID;C1W*_6+%!;2AWMOH2O M&O/*X70;!U$QYJDC5O_22H'P84'"3F]4=VW\J)"WS58]7.A6S*;<,TA#>T=#IM>^N-4T/OZTTVYN;&2FOL<,B>=:IZZI;S>.^E0X:DW5A#M&"H*<8^^)M;UPT9DKA&-:5. MK0!5?"0=T+^S*,IN_'2:K,OB+J[_%7GQ5?T`,@E?$D:&8!/7@T2RN-XNKA&& M3ITXYONO+J:^.8='SU$X+6F!LV"9:4>6T$K1$T1$_K0\1-,A:X$C6;#O2Q+G M+]%;.7/)815MZQT?D#][;O.F@..VXAZVU9:;D/B9=[T!@'!?^K(9)QL8W):V M,_CF51.+F'SVJOT`,LW`%@W:M*"YK5_WK^$*/#Z@>7HU_HRVP>^XXMY.8H;O M6)8Q=@[_+\^^Q0"H*BS](&+I,-[PB*;MK:4]YDAW4,!O_][BRR++DQE+K]@\ MR+!1ZKO-UWU3G%)WLK`Q MGP^)IUC&(A1\V64(Z7B7,Q;\.DU>/XU9R-5TP/_`N1U4M!/^"LS+J1]=QSE> MKT_0BJ-U_U&5$5'G#8=`Q^.K2]@"`NK9W6S"<3IUZ.*RW^9(,'&2GMI-S5/Z M]]`.'*736S;#E:2%AJ1?=O$BJ\QS.)K<)"D+I_$*2'85IBS(;V?S),6?F>L. MP*7@U.&N19*(5T.$O7#?;HA)(XQ7W(/+Q/U1P8QU/4CVO;0.C@0)=(MYNJLD MSI(H'/.;J/6;%EY=S<]>;J+DAY-7B.N)5.:A<2"0=?,&)PU.`);A8"<%<4.8 M,HE#@EJLXE4D0D/G0&"!SL>`Q7X:)KKO%*OM01PDHHE$)"GHW(9!Y]30@M4E MJF]Q-F=!.`G96!DN@O8!L9#(NB#A#"%9CLCMZ6-_Y_G!"8F@'_7B1"=/YT7B MK@[RPR.G5YBHY!7'^'+:;D\*6!G*.+CPX^_RX*I:(P#C]",F%J[@)">8M=M8 M"TN'M5I6%849LMT8!$$B&9R^#8)AF,N0 MQ*O3!B?$31"]B+;XRG+N_KA/D]=PS,87;]\R_J1Q-&5M`&A0?N()?;.$AF["[)9!M( MK1V(@42:`YNDHFJS"1MAW]@;-5Z_L?NM",<\/,)96M#QWXNL3#R?\5JV01+# M)Y/5H#\EFH+6V(=V\7-`#8F/V>XU;W=$K5J=M&2!J8.S:H_!UVTG"X\-_2451RP11'&.O(P7%N8U?0;)) M^O9[&N;L*ODAVT>V&WN#4Q*'YWTK"28)1#4ZF5RL%!6O$7&3I%=)\9Q/BN@\ M"'B)`-F>(NL&0B*1-WC?ZJ*6":(XGT1MRG;.Z' MXY75MCP%G,?C4?["TL63?"-5T1G0&WPFX?7;E0[IRP!1+GU7,&GE*N%^31:I MM>*\@38)1P#1D?`"[DI])*`1?='W#]/6EY7X[D+_F0>CZ=V3FPT$@B3QFFMG MVJ/$CBA1)WW%N-U_[[\U/B4M^X*X2'B0FY!L>DRJ048TI)-N8B7D2OI74[M8 M.A*(DH1C>8_:(Q(`HDL]\26#`-("$+P+TE2!-KJ#T$AXDG>L-4+4R*M&X_!D MFJJRFPXK1A[OX2@>V*2(UTHOJB9N-@#( MLB<:T`0WH@3&T<44]HIVP;`[>\D`@B9Q0["7Z/76$/@-A)W$_8>6#3"#RB<\8AR.XO/%=9@9^2\^`?19@RD`^`SM_N(S_. MS^/QNMZ&+,!'>Q`0'XE;#)O*@(3Y&,H$4:E.>J3;27=G&Y@W."/AO]Z]\MF0 M$Z*0QB'19+^KZR<"N_JN&OX`B)V$@]S.=[41>$3G.NDA!X$$C(TS'NW`)M2S2[*`8$H M6!HFXTU/HT35\$X@'A+W-(96D@H0PK=Y"#4)OA7,`F02'O0&'"ZFCK!E[`2? MEQH!TTCS#G!&PBG=C#/43SPP]A,O.+N.W7[D'XOY/"KEX$>KI-2W\21)9PM" M-)*%ZXT`PNNBM]<(':(:G^'LEJSU68@!!).62/.L+OL35@(MYU, M^K`2"H]1A3^^N_/BL<"XO%KG;]*I)=9R:&\P)!%:WN#ST!XVHF,6LD?LOS!& MY6C\E*R+O=PDZ0/+BS3F%=+.(Y!862[-?2&]90!<.2T>W>1'.@Y;22_O>*,R M79N@E+HPHY`[)!!12HOHF8X#($@X>I1R%L2C-,/:A[H:E[`)`=J%'^`AS+Y? MO%VP.'B9^>EW56YK15<0DOOZ?,V8139N+-'E<$A6$#%0[SM5B=`F8WG'`Z>WQ-;6>$L)]**VB3@* M6[\>I;@C",AIE$E+9A$C0`.RI1(IFR&;+DI7SF;A(AL0O]8NKQ"G8/2$Z_.X MDXKVDED9.:),Q@%F!]8V;\DORRO<*_K!)(E8V<:2%6S*>FC[[*<`Z95_".)P5L]7SC@?&%1K` M\93S6>!'?V.^K*99XS&]XQ.G%VR&_(OWAI;H+9WY*5SEZDCBJF"W\=./A`M` M9FH8CP72=.\FV(U'Z\%`GNXON?>G1G78EBK&=DB- MGEY8ROQ)+JTA;#P62-.IMVZ?2K2)VE:9V@XI47O5`=&1]N+95)@%5EOE93?? MJE"\2G$8VNCH1F6C3BG-&Q4:M3`;2+;1C8JDZF6G'&KKX.S'@,5^&B:*.Q1A M>^_8;>E"`\[$>ZT$51_N25:HOL79G`7A)&1CY>T(V@?$0B+M@80SA&0YHG_1 MNX]3TNXB=.4:(NSAW<<#P%Z64_C*9,:&M!^(IRNF\BGZNE\#X<[N*?9O(9=% M+5^2"!!D_"8W?W-O&#_F2?"]-J>O2:YC"<,/W/XAA2Y>>0<`22*;GDCTHJU2CL.M2:G] MC5,>$R1=`*C[VQN#C5$/C]MG*I;L+6%A\W->OWK*%H&![TV6WN+S'WXZ7NAS M-BKR+/?C,=B77PMD,>_LMX`&]_&13+O\'-D_2,H6$QGD$Z>(=;^3':K-+(Y*2'D=D?6!R),*4Y<(3 M[-5J4'TXDJP]E56XNG[VS3X@%O=OAM6\*?SL8E1].+XLUT`5H-K7CO4!L1!Q M-DAY0\B6H^K#^_^OL,^]G,]8"N#00Q'>V#LFDJ%)SI287@Q.'USMUP5_,:-D MM-H,P)/P/S3B1KC9Q0YZHG,2+3R-ZI%C4IE:/`3)+@>MN+1\_XG=OKRPNV&]),L[DUY*BYB`,]U'G>HPA-@\* M:FTK].(/C9ZA7,D;5%7@\<;:V@AC\4``)'*$ZQ&%+-#FP/O@BM`#K?!-Z`\"@J/AF&K. MNEB-3$70!\]&%9G2I;'=&`1!(FNY*75J!:CB(WJ%ZZ=1.'W)SR>3,`IAXIGJ M"A?I`"!).*0P\0NO<:582%[C_A?/H#G/LS)W>NPO)G<7SD+`+&=.W1..CV[S M733@4!L52;?%@S^[XPKXQ8_]Q27A7:Z@4=(%D+J-MF_`GQH.G?2`&0M^G2:O MG\8LY-_&`?\#)W50^23"7WEW;.I'UW$>HO:2H)4W/*7AAK)E$*$8Z7@T=`E= M($`MF\TF?,=Q:MRBHM]F2#!O2_X(V^%+X4OA7[%7%B5E@BH>9.'';UJ?/JW. M'+U3,Q2A0V2X&."Q]-2Z7;F42+@N]G40W41NZQFY4P4I_8YU MGZ,Z]2[>R1L0E,S9#VYD$AX,MMJA`9(1!.Z%9FS6=+U-CX/@J2(\VQ9 M`&E5_XBMI;SDC3^57;KI#P*BHU$?I-UV8XH7495N/[%=[1CYBE MV4LX?X=[\<8WW23.8;81KS1>-I%H3N,Q0;!N<]1:4:2V\!&]ZM;S"NS`V.^8 MB\%!@V<7?8JY&!Q0MCLWB+(9G!`PN)LP7KKF(M2!'_$7,0@ M",IF)$J==LQ%B8]VS,4EX`0#.+V.6`#621P&V;?,AR.59@B&HK\W."3GQ:R2 M(XO(T()F*4"CG0-31?+#6'FE+VH+")T^L&]#WA8,DK$7ETDV2WA^J0*T:U'> M3F?U*;H!8!+7^`:\:2$B^:;DD07EY&&ZY_%XK7_U34.Q]O2'\(9'7:/6&)W; MV`S57@J3+>%P+$SW*RGJY`U/.[N[XGC(%2?8;<#4@(;_W-II!L5()X1C5P%3 M@T.GAQ%4\ML$;4_;<0`%LF>^5^-"5I2@E3HSR%Y8N,SUD/*JN*LW?P_REVL]@%9P M_Y8F6?;%3Z=A+`T:U.L(X+L1J"Y@U@0A0N^>:VEJT'M?I,%+6:^OKJBU/2W6 M(EQS*!`0Y0@A,Q4PPHP$>'2R-N9]F@2,C4O<-XSGD`I8^/H>)BC8[K$N(!P2 M!\HVN[T<&T+\GA\U(;O![V5><9CBX]P/V.,_"OCOFR3)_^I'PMJFZD[>X)B$ MQ[;Q"M=`AU#:+=_@`PMGST6:L446[-)@D=IKV\V]4QIE3-J9:A@NA&7'H5IU M]033X]Z/(F'N0EESD$BWO\-27`AS;7QY^P^A!X0@$+`RTN0US"K!\RZBYF$2 MXR+(EW.JU:?5B9S7Z0Y;Z['-5;(A/&F]`J0Y3(G$K8>^^,0K!P M8Y0!MKEK9Y$`^[LMH@16HIZ)^)&%,!>UJ&3UL.5 M=O0&`_<5JT,KY97'P\ MKN.J>NS?!7+A9V$VFMQ7!G?A_!BE4S\._UG^/G\%F$3A>*$X\;@ZM]'D)HS] M.`C]:&WBZWA'K(SOG1PZ*_BPY&F99P>8E(#=:@L3)W$JL\B">!TCR"VY8"C4 M6D%=E@[S?>S%13L%YY%GT69ZMSR`/+P[3< M@-_M*`TCUF`4[^3ST-TG<_7PXPHHB-FXQL6[X:B?NTYC'._DC,1K)V..L`^N M,?8_+.F5(7-R1B*A7'(/YQY^,JN M?_*/K/1AFM$XWNA89UCW?R3ATFI`ZG,7R,`C@W;D^0GZ@NX,>_R[[46@,`1!*!["H2D&^W M`<8>W1,M2[OH/]!EP,./>`H9/GR; M(46__>XY#*PG3!F)HW<7CKZ]OKU[?75 M+]9_!KW_6LYH;-6L3Y\^7?J0!9=97'IQ:-5JXD7,F^,061S1&>9]%&*V0!Y^ M=S'G?'%;KPL]!NC@7XB\.8FPT*V+-UU]?2/@!SC$$6_'-&SA*4H"_N[BMP0% M9$JP?V&!O1&[9:$?FF-^D^][DAB3C,/2/2X)_T\H4$J M?U,7R1/$<"HN4GV^4=@5?EU?)6Y$`TV^/W4AX]U,B4:81(RCR-N"R(!>F]AX M\^9-7::FH@FKS1!:;(2GB$VDZ#I!%ESMJE&[::0J7IQ$G"[W;638NYS%3_5U MHE"[.5!+*(7:J-);IPK%5_N*/B;Y.I"0(XZ?O7F^O$C)L8=$3YCQ?)556HXU M$2(>R]>124*EL:_"B)>O``DYXD``7RXPRZ5&IN38POB"*EX"*3EO\?&"8D]T M`\KZ]::.J$?C``,"C]?P\R)`$>(Q7;;A?E,@<10E87XF/J=U@;@.0C60PI1X M&[UBI;4"]">6]19%40P=#?10\EX\62Q(-(W7M_!`U.];`7@,ZI:X>!AVBCH( M:6`K]A+1W]B1[T2<\&4',J:A?-V%1:",M!(;""D('T])1"38QE4#.LI4??<2 MLK)6>5D[F;VM'^;PY1>'V2<,^V[TK;P&&AGD)G5%W['67XOH=;XSL9'D&59L19B!G)ZV:^!J M!.6*U[PUW7[+Z8^< M`$I3*O>5]+S>G,*K]?/>*WZI>#Z!YTVI,W?J+L0D%(#IFJM"0<_O*S-^1V/X MTW/ZP*W;MMR!,[3''1"HF#V3V29B\W80?S(E=BNOY_7U*;PV[=%[J]UU/U2\ M%O!ZAQ@!-@8[9J$S$O0,_6UF.40Y@4Q2RB&FSM[U)%T#(;."*B1+:TB1$_( M*`E#1)?NU/:DIFDZ1]Y#@-HW#0>3=(>%A2W]A_YF>CV\.^6@].%9[Z/:L0;$K:?_ M0T6!GH(.^.L1N*90]_N8KR@X>*:GX,TA!9W^C]!3N4.H__^P^LZX8D#/P(#& M,$/C2^$@_Y:0A1BE5SSDIFC9:%P=LC$8BAG:^*-E]UN6\^^'SD`,\14G>D[@ M=1@F6!3[9,W%WA,]!XU##KJ=OB/G5$.GU:G*OJCLXVC&,0V;:$$X"KI8!HLE M!WDI>BZN,URX_?O:V!GV8(8[Z(SMKM5U[)%3D5+@O"2,QR&F+;R(&=F$B@Z? MZLFX.22C^3`:NSUG:+6<@3OJ5%&@(AK<24!F*V=^'*>ES]HQ'6*>T(C!2&$' MX!**`,^:H^-4]`2^.B30O>MV[E?NOS5V-WR.K+8[M(;.^&$("6+DL;O@2HJP M4$5Q89@@#`F7+CY0`[Z_<$]PM/5>=`)Z^EYGVI_;ZW7&*Y]?L-1TI?_B]"OG MQ<#-G".*YW'@0W,2TS.^7'N7V>=Z6C)>_^B]/73>N]T6M*2__?7FS;_DQ&W\ ML6)$S\@]CF<4+>8BT)Q9AU(EZKG)./SWCGL_M`?O.TV8.G3ZT,_UJJ",F:L_ MCH5C/\2!"&0.$.6[/J"Y9BB MB"%O9\%!F:KG*1,GV&7FHS4>VOV1W:Q6$@SX^8`HE#M?#FC\1-B6F9SG6DZN M,]&"#_80>``Z!D/WQ\ZH(J.8#"=Q[IR^T^Z,K4'7KC@Y8P7`>"7`;$7@.A-@T*\(6%^E^?Z](O&8R/0838*4 MM=P4/4V9T,-AE-KZ:I5/1I=HHRP87\T'5%U!EQU%VB-.EZHC)A M!$5,M6+J_)#/+F'%8GK>,G$&;?BG8N^\J,,N\F$\S([`6J"#O/!UN77IX3EB;I*V#JCBID3W+`]?G0">I8R M(0V5(U9Q=397>YV?@9R>N4R4HX"YJA\\83]8'G.:=#UCF:#'_EZQBJF7B'KL M]8LZ`3U7YG&/JF,\FZS]YE4LIZO,T_K?A[H;6AO3ZU0$;/7296HUX= MJKK2J*@+69M)Z'C.1F^)=K%5K?*E]K7F\&LKJ6M6 MUH#D84S)_6$[K%Z=9K`\WU!^7"9G(Q2R8"]53\!=6_04-`T:.-6R?Q'*: M%:#)L6:!"@[*:Q$T@&,M.F@S+VO7JKWM'H()=[N'9,I'8%9,N17E'L&K.DUV M=7IO-_9D5AH5<5=+]6KB4:UQ7;MI7#XS?UOZQX#8VG@L0F4C9*\.K>:9,\Z-L&PU5I=UK89 MG(3B\`!E$PRICK@X^_V'9RL;`4B5Y-4)$++G-,O!)L(SX>J;]5P!I7M:HOMZ M([K-QM=GPS#L/'<@\!=YO?ZT:E-(N[DXVTQ.0*@]L]RDIJ0ZXN*$/D-_JK91 M@1QJG+VA(G?4H#ZNIJ6 MRE\`N(5GX-IV.`Z%5W5AH;74NPM.$S%IE5(P322Q/Y9Z?D+7AT9$)`C$=OU4 MEB6@3'@B4N]IG"S2EQ#(?N4*BWGOKV8H%28JPXX;_]AY]H)$_$"%C#R[5,2> MA4-\%\3>8VK]ZFSY6YX^SRN!*0K8[U0$9UNA*)UFS,)8K%TF$5G5-=:$;L9' M7>[W<#C!]*``_#A$)/J\_)N`5-@WX@@RG,UY#]%'+-9D6_@)!['<"5HF&TV! MJFHY"KLK[0C-<-F,TZ(K8FX(S;Y5)FN4R(HL<0+L<1I#)690FQ;+9B;&@O5=;&2_,*V M_R0BMV)E:K.-M$1:PT/5PD'%.8G+C3*?'P MYLNGTHS!Q1`5MGV0V_(25D*;U-`4MO3BP!=[1<8,:L-NI@RNSCR3$SYB+@*GOC:#;..QFH3#,G#<@C MS!(E)#+^_!U"EBP]/-48@X.`M1&=Q9N>O$TB.0:7I8LNAJ@<56V4%1;XWK9.\4=-$>TGDX$TR+,^!`%-^RE:X;/![[^850HD[S--1J7T1[P%J9>"_&>KR1)>+5#*5J MNISY'JIT]"DA*B/6L??H+L0+Q`9;\SHE`8%)`BM1LU)B.V%9ZX&A3N25S[A"J(4+KGXIU^OV M8)EO9R@9384(%9:U"8.F^!$C6K9@VR&R0@-*$W;+0C+80P09,M8#WYM$95H^ M,(!H8-P@H=XV+11'(2Y:SAN)K;&CWQ*X;\4):LRC9+'"8=9Y_)Z!5V.H!H-Z:6C*`Z5R1K`G9\HP-[8C/V]K(J24 MQK"CT"K7=]'C"`=BR7V$$8NC.\P_81S9R2QAO"&VFF)/9G%3GD#5*:"/M/][ M%$'WNA1Y?9\$RS^!\4K$1_1++3Q%25"69:`B@$J7CS(^`"14=%_82\1?]U.$ M*9N31;J0]')>E'*;K+E#>"Q@$\N[!+^@J_BR1AYB*_B\H!_S\JR"YX%2;]=] M`A+E9M^]R2J>E'E_MAZVPM:'"'(1@Q#'K%2S-!6PHG@DC)UR=!5#*RY/)*\` MG_$.ZA(YX%IP*IKBA,_M*25>B>9C64P*])T(VJ0\^WKUMQ.EVZJ'>)I$FT\C MEB7V1H^P0=4]'APG79XPBAJ9H2GE#:`8(36TLG1Q205`0W-*U"5JH*F,D8.\ MV#;%W&D[IIC,-@T22*;@$W;D1^$EB#,<@56Y\8#,$[3SK6KZR:`(5>`2+2.: MX518^8/X7FS!F70!(@D%!64ST02D412]=+U)+CPC4TK4DRB!"4/>UE```L/0<`$0`8```````!````I($` M`````L``00E#@``!#D!``!0 M2P$"'@,4````"`!D90Y'GD]T]EP+```OK0``%0`8```````!````I('SG@`` M&UL550%``.<&LY5=7@+``$$)0X```0Y`0`` M4$L!`AX#%`````@`9&4.1\?Z1_?%,```F>X"`!4`&````````0```*2!GJH` M`'-M9&TM,C`Q-3`V,S!?9&5F+GAM;%54!0`#G!K.575X"P`!!"4.```$.0$` M`%!+`0(>`Q0````(`&1E#D?U<.7?,DP``,D?!``5`!@```````$```"D@;+; M``!S;61M+3(P,34P-C,P7VQA8BYX;6Q55`4``YP:SE5U>`L``00E#@``!#D! M``!02P$"'@,4````"`!D90Y'YSZ7>7@Y``!.I`,`%0`8```````!````I($S M*`$`&UL550%``.<&LY5=7@+``$$)0X```0Y M`0``4$L!`AX#%`````@`9&4.1SDU_-7A#@``1:,``!$`&````````0```*2! M^F$!`'-M9&TM,C`Q-3`V,S`N>'-D550%``.<&LY5=7@+``$$)0X```0Y`0`` 64$L%!@`````&``8`&@(``"9Q`0`````` ` end XML 38 R24.htm IDEA: XBRL DOCUMENT v3.2.0.727

PROPERTY AND EQUIPMENT (Tables)
3 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

A summary of property and equipment is as follows:

USEFUL

June 30,

March 31,

LIFE

2015

2015

(unaudited)

(audited)

Computer and office equipment

5 years

$

285,650

$

285,650

Furniture and fixtures

5-7 years

4,312

4,312

Warehouse equipment

7 years

224,106

224,106

Molds and tooling

3-5 years

2,399,290

2,357,133

2,913,358

2,871,201

Accumulated depreciation

2,441,963

2,404,630

$

471,395

$

466,571

X

- References
No definition available.
+ Details

Name: us-gaap_PropertyPlantAndEquipmentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph b

-Article 5

+ Details

Name: us-gaap_PropertyPlantAndEquipmentTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 39 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 40 R7.htm IDEA: XBRL DOCUMENT v3.2.0.727

SUMMARY OF ACCOUNTING POLICIES
3 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

NOTE 2-SUMMARY OF ACCOUNTING POLICIES

PRINCIPLES OF CONSOLIDATION AND BASIS OF PRESENTATION

The condensed consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated in the condensed consolidated financial statements. The accompanying unaudited financial statements for the three months ended June 30, 2015 and 2014 have been prepared in accordance with generally accepted accounting principles applicable to interim financial information and the requirements of Form 10-Q and Article 10 of Regulation S-X of the SEC. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States for complete consolidated financial statements. In the opinion of management, such condensed consolidated financial statements include all adjustments (consisting of normal recurring accruals) necessary for the fair presentation of the condensed consolidated financial position and the condensed consolidated results of operations. The condensed consolidated results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet information as of March 31, 2015 was derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K. The interim condensed consolidated financial statements should be read in conjunction with that report.

USE OF ESTIMATES

The Singing Machine makes estimates and assumptions in the ordinary course of business relating to sales returns and allowances, warranty reserves, inventory reserves and reserves for promotional incentives that affect the reported amounts of assets and liabilities and of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Future events and their effects cannot be determined with absolute certainty; therefore, the determination of estimates requires the exercise of judgment. Historically, past changes to these estimates have not had a material impact on the Company's financial condition. However, circumstances could change which may alter future expectations.

COLLECTIBILITY OF ACCOUNTS RECEIVABLE
The Singing Machine's allowance for doubtful accounts is based on management's estimates of the creditworthiness of its customers, current economic conditions and historical information, and, in the opinion of management, is believed to be in an amount sufficient to respond to normal business conditions. Management sets 100% reserves for customers in bankruptcy and other reserves based upon historical collection experience. Should business conditions deteriorate or any major customer default on its obligations to the Company, this allowance may need to be significantly increased, which would have a negative impact on operations.

FOREIGN CURRENCY TRANSLATION

The functional currency of the Macau Subsidiary is the Hong Kong dollar. The financial statements of the subsidiaries are translated to U.S. dollars using period-end rates of exchange for assets and liabilities, and average rates of exchange for the period for revenues, costs, and expenses. Net gains and losses resulting from foreign exchange transactions and translations were not material during the periods presented.

Concentration of Credit Risk
At times, the Company maintains cash in United States bank accounts that are in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured amounts of up to $250,000. As of June 30, 2015 and March 31, 2015, the Company had no cash deposits that exceeded the FDIC insurance limit. The Company maintains cash balances in foreign financial institutions. The amounts in foreign financial institutions at June 30, 2015 and March 31, 2015 were $329,731 and $23,794, respectively.

INVENTORY

Inventories are comprised primarily of electronic karaoke equipment, microphones and accessories, and are stated at the lower of cost or market, as determined using the first in, first out method. The Singing Machine reduces inventory on hand to its net realizable value on an item-by-item basis when it is apparent that the expected realizable value of an inventory item falls below its original cost. A charge to cost of sales results when the estimated net realizable value of specific inventory items declines below cost. Management regularly reviews the Company's investment in inventories for such declines in value.

COMPUTATION OF EARNINGS PER SHARE
Loss per common share is computed by dividing net loss by the weighted average of common shares outstanding during the period. Diluted net income per share is presented as the conversion of stock options would have a dilutive effect. As of June 30, 2015 and 2014 total potential dilutive shares amounted to approximately 880,000 and 74,000 shares, respectively, however these shares were not included in the computation of diluted earnings per share for the three months ended June 30, 2015 and June 30, 2014 because their effect was anti-dilutive.

REVENUE RECOGNITION

Revenue from the sale of equipment, accessories, musical recordings and subscriptions and third –party logistics services are recognized upon the later of: (a) the time of shipment or (b) when title passes to the customers and all significant contractual obligations and services have been satisfied and collection of the resulting receivable is reasonably assured. Net sales are comprised of gross sales net of actual and estimated future returns, discounts and volume rebates.

STOCK BASED COMPENSATION

The Company follows the provisions of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 718-20, “Compensation – Stock Compensation Awards Classified as Equity”. ASC 718-20 requires all share-based payments to employees including grants of employee stock options, be measured at fair value and expensed in the condensed consolidated statements of operations over the service period (generally the vesting period). The Company uses the Black-Scholes option valuation model to value stock options. Employee stock option compensation expense for the three months ended June 30, 2015 and 2014 includes the estimated fair value of options granted, amortized on a straight-line basis over the requisite service period for the entire portion of the award. For the three months ended June 30, 2015 and 2014, the stock option expense was $2,001 and $32,398, respectively.

ADVERTISING
Costs incurred for producing and publishing advertising of the Company are charged to operations the first time the advertising takes place. The Company has entered into cooperative advertising agreements with its major customers that specifically indicated that the customer has to spend the cooperative advertising fund upon the occurrence of mutually agreed events. The percentage of the cooperative advertising allowance ranges from 2% to 9% of the purchase. The customers have to advertise the Company's products in the customer's catalog, local newspaper and other advertising media. The customer must submit the proof of the performance (such as a copy of the advertising showing the Company’s products) to the Company to request for the allowance. The customer does not have the ability to spend the allowance at their discretion. The Company believes that the identifiable benefit from the cooperative advertising program and the fair value of the advertising benefit is equal or greater than the cooperative advertising expense. Advertising expense for the three months ended June 30, 2015 and 2014 was $279,356 and $199,720, respectively.

RESEARCH AND DEVELOPMENT COSTS

Research and development costs are charged to results of operations as incurred. These expenses are shown as a component of selling, general and administrative expenses in the condensed consolidated statements of operations. For the three months ended June 30, 2015 and 2014, these amounts totaled $32,120 and $28,200 respectively.

FAIR VALUE OF FINANCIAL INSTRUMENTS

The Company adopted FASB ASC 825, “Financial Instruments”, which requires disclosures of information about the fair value of certain financial instruments for which it is practicable to estimate that value. For purposes of this disclosure, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation.

The carrying amounts of the Company's short-term financial instruments, including accounts receivable, accounts payable, obligations to customers for returns and allowances, warranty provision, accrued expenses and net due to related parties approximates fair value due to the relatively short period to maturity for these instruments.

INCOME TAXES

The Company follows the provisions of FASB ASC 740 "Accounting for Income Taxes." Under the asset and liability method of ASC 740, deferred tax assets and liabilities are recognized for the future tax consequences attributed to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under ASC 740, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. If it is more likely than not that some portion of a deferred tax asset will not be realized, a valuation allowance is recognized.

The Company analyzes its deferred tax assets and liabilities at the end of each interim period and, based on management’s best estimate of its full year effective tax rate, recognizes cumulative adjustments to its deferred tax assets and liabilities. The Company’s effective tax rate for the fiscal year ending March 31, 2016 is estimated to be approximately 39%. The effective tax rate for the full year ended March 31, 2015 was approximately 35%.

As of June 30, 2015 and March 31, 2015, The Singing Machine had gross deferred tax assets of approximately $3.3 million and $3.0 million, respectively, against which the Company recorded valuation allowances totaling approximately $0.7 million. A valuation allowance was recorded against deferred tax assets because it is more likely than not that a portion of the tax benefits from the gross deferred tax assets will not be realized. For the three month period ended June 30, 2015, the Company recorded a loss before income tax benefit of approximately $807,000 which generated an additional current deferred tax asset and income tax benefit of approximately $312,000. Due to the seasonality of the business, the Company is expected to reverse this increase in deferred tax asset during the remainder of fiscal year ending March 31, 2016.

The Company recognizes a liability for uncertain tax positions. An uncertain tax position is defined as a position in a previously filed tax return or a position expected to be taken in a future tax return that is not based on clear and unambiguous tax law and which is reflected in measuring current or deferred income tax assets and liabilities for interim or annual periods. The Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company measures the tax benefits recognized based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. As of June 30, 2015, there were no uncertain tax positions that resulted in any adjustment to the Company’s provision for income taxes. The Company recognizes interest and penalties related to unrecognized tax benefits in its provision for income taxes. The Company currently has no liabilities recorded for accrued interest or penalties related to uncertain tax provisions.

As of June 30, 2015, the Company is subject to U.S. Federal income tax examinations for the tax years ended March 31, 2012 through March 31, 2015.

LONG-LIVED ASSETS

The Company reviews long-lived assets for impairment whenever circumstances and situations change such that there is an indication that the carrying amounts may not be recoverable. If the undiscounted future cash flows attributable to the related assets are less than the carrying amount, the carrying amounts are reduced to fair value and an impairment loss is recognized in accordance with FASB ASC 360-10-05, "Accounting for the Impairment or Disposal of Long-Lived Assets."

PROPERTY AND EQUIPMENT

Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is provided for in amounts sufficient to relate the cost of depreciable assets to their estimated useful lives using accelerated and straight-line methods.

SHIPPING AND HANDLING COSTS

Shipping and handling costs are classified as a component of selling expenses and those billed to customers are recorded as a reduction of expense in the consolidated statements of income.

RECENT ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2014-09 which outlines a single comprehensive model for companies to use when accounting for revenue arising from contracts with customers. The core principle of the revenue recognition model is that an entity recognizes revenue to depict the transfer of goods and services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In order to achieve this core principle a company must apply the following steps in determining revenue recognition:

·

Identify the contract(s) with a customer

·

Identify the performance obligations in the contract.

·

Determine the transaction price.

·

Allocate the transaction price to the performance obligations in the contract.

·

Recognize revenue when (or as) the entity satisfies a performance obligation.

The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017 including interim periods within that reporting period with early application allowed beginning with reporting periods after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-09 will have any material effect on the company’s consolidated financial statements.

In June 2014, the FASB issued ASU 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The ASU clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. An entity would not record compensation expense (measured as of the grant date without taking into account the effect of the performance target) related to an award for which transfer to the employee is contingent on the entity’s satisfaction of a performance target until it becomes probable that the performance target will be met. The ASU is effective for all entities for reporting periods beginning after December 15, 2015. The implementation of ASU 2014-12 is not expected to have any material effect on the company’s consolidated financial statements.

In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The ASU requires that at every interim and annual period, management determine whether conditions or events exist which raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date the financial statements are issued. If management’s initial consideration of the relevant conditions and events indicates that it is probable the entity will not be able to meet its obligations as they become due within the assessment period, then management must evaluate whether it is probable that plans to mitigate these factors will alleviate that substantial doubt. The mitigating effect is considered only if it is probable that the plan will be effectively implemented and probable that the plans will mitigate the conditions or events that raised the substantial doubt. If management’s plans will alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the conditions or events that raised substantial doubt and management’s plans that alleviated those concerns. If management’s plans will not alleviate the substantial doubt, an entity must disclose in the notes to the financial statements the same conditions and events along with management’s plans that did not alleviate the substantial doubt, in addition to a statement that indicates there is substantial doubt about the entity’s ability to continue as a going concern. ASU 2014-15 is effective for annual periods ending after December 15, 2016 and for interim periods within annual periods beginning after December 15, 2016. Management is currently assessing whether the implementation of ASU 2014-15 will have any material effect on the company’s consolidated financial statement disclosures.

In January 2015, the FASB issued ASU 2015-01, Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. To be considered an extraordinary item under existing Generally Accepted Accounting Principles, an event or transaction that is identified as both unusual in nature and occurs infrequently must be segregated as an extraordinary item from results or ordinary operations, separately presented as an extraordinary item on an entity’s income statement, net of tax, after income from continuing operations and an entity must disclose income taxes and earnings per share data applicable to the extraordinary item. While the ASU eliminates the requirement to segregate and separately report an event that is identified as an extraordinary item it does not affect the reporting and disclosure requirements for an extraordinary item. ASU 2015-01 is effective for periods beginning after December 15, 2015 and interim periods within those annual periods. The implementation of ASU 2015-01 is not expected to have any material effect on the company’s consolidated financial statement disclosures.

In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs. The ASU changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity presents these costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. The ASU specifies that “issue costs shall be reported in the balance sheet as a direct deduction from the face amount of the note” and that “amortization of debt issue costs shall also be reported as interest expense”. Any debt issuance costs incurred before the associated funding is received should be reported on the balance sheet as deferred charges until the debt liability amount is recorded. The guidance in ASU 2015-03 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued with the new guidance to be applied retrospectively to all prior periods. Management is currently assessing whether the implementation of ASU 2015-03 will have any material effect on the company’s consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. The ASU requires that inventory be measured at the lower of cost or net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Inventory measured using last-in, first-out (LIFO) and the retail inventory method (RIM) are not impacted by the new guidance. The guidance in ASU 2015-11 is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. The new guidance should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Management is currently assessing whether the implementation of ASU 2015-11 will have any material effect on the company’s consolidated financial statements.

X

- References
No definition available.
+ Details

Name: us-gaap_AccountingPoliciesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for all significant accounting policies of the reporting entity.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18861-107790

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18780-107790

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18726-107790

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18743-107790

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=51655414&loc=d3e18854-107790

+ Details

Name: us-gaap_SignificantAccountingPoliciesTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 41 R3.htm IDEA: XBRL DOCUMENT v3.2.0.727

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)

Jun. 30, 2015

Mar. 31, 2015

Allowance for doubtful accounts (in dollars) $ 46,698 $ 174,131

Preferred stock, par value (in dollars per share) $ 1.00 $ 1.00

Preferred stock, shares authorized 1,000,000 1,000,000

Preferred stock, shares issued 0 0

Preferred stock, shares outstanding 0 0

Common Class A [Member]

Common stock, par value (in dollars per share) $ 0.01 $ 0.01

Common stock, shares authorized 100,000 100,000

Common stock, shares issued 0 0

Common stock, shares outstanding 0 0

Common Class B [Member]

Common stock, par value (in dollars per share) $ 0.01 $ 0.01

Common stock, shares authorized 100,000,000 100,000,000

Common stock, shares issued 38,117,517 38,117,517

Common stock, shares outstanding 38,117,517 38,117,517

X

- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.4)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=49124121&loc=d3e5074-111524

+ Details

Name: us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Face amount or stated value per share of common stock.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

+ Details

Name: us-gaap_CommonStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29

-Article 5

+ Details

Name: us-gaap_PreferredStockParOrStatedValuePerShare

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: instant

X

- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29

-Article 5

+ Details

Name: us-gaap_PreferredStockSharesAuthorized

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29

-Article 5

+ Details

Name: us-gaap_PreferredStockSharesIssued

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29

-Article 5

+ Details

Name: us-gaap_PreferredStockSharesOutstanding

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassAMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_StatementClassOfStockAxis=us-gaap_CommonClassBMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 42 R17.htm IDEA: XBRL DOCUMENT v3.2.0.727

GEOGRAPHICAL INFORMATION
3 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 12 - GEOGRAPHICAL INFORMATION

All sales to customers outside of the United States for the three months ended June 30, 2015 were made by the Macau Subsidiary. Sales by geographic region for the periods presented are as follows:

2015

2014

North America

$

3,073,577

$

2,290,253

Europe

237,507

254,706

South Africa

155,790

-

$

3,466,874

$

2,544,959

The geographic area of sales was based primarily on the location where the product is delivered.

X

- References
No definition available.
+ Details

Name: us-gaap_SegmentReportingAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 34

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 40

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 42

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 31

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Name: us-gaap_SegmentReportingDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 43 R1.htm IDEA: XBRL DOCUMENT v3.2.0.727

Document And Entity Information - shares
3 Months Ended

Jun. 30, 2015

Aug. 14, 2015

Document Information [Line Items]

Document Type 10-Q

Amendment Flag false

Document Period End Date Jun. 30, 2015

Document Fiscal Year Focus 2016

Document Fiscal Period Focus Q1

Entity Registrant Name SINGING MACHINE CO INC

Entity Central Index Key 0000923601

Current Fiscal Year End Date --03-31

Entity Filer Category Smaller Reporting Company

Trading Symbol SMDM

Entity Common Stock, Shares Outstanding 38,117,517

X

- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document.
+ References
No definition available.
+ Details

Name: dei_AmendmentFlag

Namespace Prefix: dei_

Data Type: xbrli:booleanItemType

Balance Type: na

Period Type: duration

X

- Definition
End date of current fiscal year in the format --MM-DD.
+ References
No definition available.
+ Details

Name: dei_CurrentFiscalYearEndDate

Namespace Prefix: dei_

Data Type: xbrli:gMonthDayItemType

Balance Type: na

Period Type: duration

X

- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.
+ References
No definition available.
+ Details

Name: dei_DocumentFiscalPeriodFocus

Namespace Prefix: dei_

Data Type: dei:fiscalPeriodItemType

Balance Type: na

Period Type: duration

X

- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
No definition available.
+ Details

Name: dei_DocumentFiscalYearFocus

Namespace Prefix: dei_

Data Type: xbrli:gYearItemType

Balance Type: na

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: dei_DocumentInformationLineItems

Namespace Prefix: dei_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.
+ References
No definition available.
+ Details

Name: dei_DocumentPeriodEndDate

Namespace Prefix: dei_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".
+ References
No definition available.
+ Details

Name: dei_DocumentType

Namespace Prefix: dei_

Data Type: dei:submissionTypeItemType

Balance Type: na

Period Type: duration

X

- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityCentralIndexKey

Namespace Prefix: dei_

Data Type: dei:centralIndexKeyItemType

Balance Type: na

Period Type: duration

X

- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
No definition available.
+ Details

Name: dei_EntityCommonStockSharesOutstanding

Namespace Prefix: dei_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
No definition available.
+ Details

Name: dei_EntityFilerCategory

Namespace Prefix: dei_

Data Type: dei:filerCategoryItemType

Balance Type: na

Period Type: duration

X

- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation 12B

-Number 240

-Section 12b

-Subsection 1

+ Details

Name: dei_EntityRegistrantName

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

X

- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details

Name: dei_TradingSymbol

Namespace Prefix: dei_

Data Type: xbrli:normalizedStringItemType

Balance Type: na

Period Type: duration

XML 44 R18.htm IDEA: XBRL DOCUMENT v3.2.0.727

DUE TO / FROM RELATED PARTIES, NET
3 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 13 – DUE TO / FROM RELATED PARTIES, NET

During the fiscal year ended March 31, 2015, our parent company, Starlight International Holdings Limited, was renamed to Shihua Development Company Limited (“Shihua”), due to a corporate restructuring transaction. As a result of the transaction, Shihua now holds 100% of the common stock of koncepts International Limited (“koncepts”). Koncepts is a major stockholder of the Company, owning approximately 49% of our shares of common stock outstanding on a fully diluted basis as of June 30, 2015.

As of June 30, 2015 and March 31, 2015 the Company had amounts due to related parties in the amounts of $4,446,093 and $4,410,637, 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 primarily to Shihua affiliates in the amount of $3,346,093 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 $15,842 and $2,357 for the three months ended June 30, 2015 and 2014, respectively. As of June 30, 2015 and March 31, 2015 the Company had amounts due from related parties in the amounts of $94,252 and $0, respectively, consisting primarily of non-interest bearing trade receivables due from Shihua affiliates.

X

- References
No definition available.
+ Details

Name: us-gaap_RelatedPartyTransactionsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- 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.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph b

-Article 3A

+ Details

Name: us-gaap_RelatedPartyTransactionsDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 45 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Net Sales $ 3,466,874 $ 2,544,959

Cost of Goods Sold 2,608,453 2,029,068

Gross Profit 858,421 515,891

Operating Expenses

Selling expenses 457,727 345,267

General and administrative expenses 1,101,981 928,871

Depreciation 37,333 29,331

Total Operating Expenses 1,597,041 1,303,469

Loss from Operations (738,620) (787,578)

Other Expenses

Interest expense (50,112) (1,842)

Financing costs (18,519) 0

Net Other Expenses (68,631) (1,842)

Loss before income tax benefit (807,251) (789,420)

Income tax benefit 312,325 289,891

Net Loss $ (494,926) $ (499,529)

Loss per Common Share

Basic and Diluted (in dollar per share) $ (0.01) $ (0.01)

Weighted Average Common and Common Equivalent Shares:

Basic and Diluted (in shares) 38,117,517 38,070,642

X

- Definition
Total costs related to goods produced and sold during the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2(a))

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_CostOfGoodsSold

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Represents the charge against earnings during the period for commitment fees and debt issuance expenses.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.8)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_DebtRelatedCommitmentFeesAndDebtIssuanceCosts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_DepreciationAndAmortization

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareBasicAndDiluted

Namespace Prefix: us-gaap_

Data Type: num:perShareItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_EarningsPerShareBasicAndDilutedOtherDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_GeneralAndAdministrativeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1,2)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_GrossProfit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 940

-SubTopic 20

-Section 25

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51673353&loc=d3e41242-110953

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 10

-Article 5

+ Details

Name: us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Income Tax Expense (or Benefit)

-URI http://asc.fasb.org/extlink&oid=6515339

+ Details

Name: us-gaap_IncomeTaxExpenseBenefit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of the cost of borrowed funds accounted for as interest expense.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6450988&loc=d3e26243-108391

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.9)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

+ Details

Name: us-gaap_InterestExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=51831255

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=51831270

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_NonoperatingIncomeExpenseAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
No definition available.
+ Details

Name: us-gaap_OperatingExpenses

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_OperatingExpensesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The net result for the period of deducting operating expenses from operating revenues.
+ References
No definition available.
+ Details

Name: us-gaap_OperatingIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.9)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_OtherNonoperatingIncomeExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1(a))

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_SalesRevenueGoodsNet

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.4)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_SellingExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).
+ References
No definition available.
+ Details

Name: us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: duration

XML 46 R12.htm IDEA: XBRL DOCUMENT v3.2.0.727

LONG-TERM CAPITAL LEASE
3 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

NOTE 7 – LONG-TERM CAPITAL LEASE

On April 13, 2013, the company entered into a long-term capital leasing arrangement with Wells Fargo Equipment Finance (“Wells Fargo”) to finance the lease of two used forklift vehicles in the amount of $36,388. The lease requires monthly payments in the amount of $1,082 per month over a total lease term of 36 months which commenced on May 19, 2013. The agreement has an effective interest rate of 4.5% and the company has the option to purchase the equipment at the end of the lease term for one dollar. As of June 30, 2015 and March 31, 2015, the outstanding amount due to Wells Fargo was $10,601 and $13,706 respectively.

As of June 30, 2015 and March 31, 2015, the Company had obligations under the capital lease repayable as follows:

June 30, 2015

March 31, 2015

Total minimum lease payments Within one year

$

10,820

$

12,984

After one year but within three years

-

1,078

10,820

14,062

Interest payments relating to future periods

(219)

(356)

Present Value of minimum lease payments

$

10,601

$

13,706

For the three month periods ended June 30, 2015 and June 30, 2014 the amount of interest related to the capital lease was $142 and $277, respectively.

X

- References
No definition available.
+ Details

Name: us-gaap_DebtDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for long-term debt.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LongTermDebtTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 47 R11.htm IDEA: XBRL DOCUMENT v3.2.0.727

LINE OF CREDIT
3 Months Ended

Jun. 30, 2015

Line of Credit Facility [Abstract]

Debt Disclosure [Text Block]

NOTE 6 – LINE OF CREDIT

CRESTMARK BANK

On October 19, 2012, the Company executed a two-year Accounts Receivable Ledgered Line of Credit Facility (“line of credit”) with Crestmark Bank (“Crestmark”) of Troy, Michigan which was terminated by SMC on July 15, 2014 and replaced by a revolving credit facility from PNC Bank National Association.

Interest on the line of credit and discounting charges on accounts receivable advances was accrued at a rate of 2% per annum over the prime rate as published by the Wall Street Journal and at no time was the effective rate less than 5.25% per annum. During the three month period ended June 30, 2015 and 2014 the Company incurred interest expense of $0 and $1,576, respectively on amounts borrowed against the line of credit. The credit facility was secured with all assets of the Company as well as related-party debt subordination agreements totaling $2,500,000 from Ram Light Management, Ltd. in the amount of $1,683,247 and Starlight Marketing Development, Ltd. in the amount of $816,753. There was a 1% commission fee of the gross invoice amount on all domestic accounts receivable pledged. For the three month period ended June 30, 2015 and 2014 the Company incurred commission fees on pledged receivables in the amount of $0 and $14,506, respectively. There were no amounts outstanding on the line of credit as of June 30, 2015 and March 31, 2015.

PNC BANK NATIONAL ASSOCIATION

On July 14, 2014, the Company executed a three-year revolving credit facility (the “Revolving Credit Facility”) with PNC Bank, National Association (“PNC”) that replaced the existing line of credit agreement with Crestmark. The Revolving Credit Facility has a three year term expiring on July 14, 2017. The outstanding loan balance cannot exceed $15,000,000 during peak selling season between August 1 and December 31 and is reduced to a maximum of $7,500,000 between January 1 and July 31. Usage under the Revolving Credit Facility shall not exceed the sum of the following (the “Borrowing Base”):

·

Up to 85% of the company’s eligible domestic and Canadian accounts receivable aged less than 60 days past due (not to exceed 90 days from invoice date, cross aged on the basis of 50% or more past due with certain specific accounts qualifying for up to 120 days from invoice date not to exceed 30 days from the due date); plus

·

Up to the lesser of (a) 50% of the cost of eligible inventory or (b) 75% of net orderly liquidation value percentage of eligible inventory (annual inventory appraisals required); minus

·

An all-time $500,000 block; minus

·

Applicable reserves including a dilution reserve equal to 125% of the Company’s advertising and return accrual reserves. Dilution reserve not to exceed availability generated from eligible accounts receivable.

The Revolving Credit Facility includes the following sub-limits:

·

Letters of Credit to be issued limited to $3,000,000.

·

Inventory availability limited to $4,000,000.

·

Mandatory pay-down to $1,000,000 (excluding letters of credit) for any 30 consecutive days between February 1 and April 30.

The Revolving Credit Facility must comply with the following quarterly financial covenants to avoid default:

·

Fixed charge coverage ratio test of 1.1:1 times measured on a rolling four quarter basis, defined as EBITDA less non-financed capital expenditures, cash dividends and distributions paid and cash taxes paid divided by the sum of interest and principal on all indebtedness.

·

Capital expenditures limited to $150,000 per year.

Interest on the Revolving Line of Credit accrues at 2% per annum over PNC’s announced prime rate with an option for the Company to elect the 1, 2 or 3 month fully absorbed PNC LIBOR Rate plus 3.5% per annum with a default rate of 2% over the applicable rate. There is an unused facility fee equal to .375% per annum on the unused portion of the Revolving Credit Facility which is calculated on the basis of a 360 day year for the actual number of days elapsed and is payable quarterly in arrears. During the three month periods ended June 30, 2015 and 2014 the Company incurred interest expense of $9,665 and $0, respectively on amounts borrowed against the line of credit. During the three month periods ended June 30, 2015 and 2014 the Company incurred an unused facility fee of $6,142 and $0, respectively on the unused portion of the Revolving Credit Facility.

The Revolving Line of Credit is secured by first priority security interests in all of the named borrowers’ tangible and intangible assets as well as first priority security interests of 100% of member or ownership interests of any of its domestic existing or newly formed subsidiaries and first priority lien on up to 65% of the borrowers’ domestic subsidiary’s existing or subsequently formed or acquired foreign subsidiaries. The Revolving Credit Facility is also secured by a related-party debt subordination agreement with Starlight Marketing Development, Ltd. in the amount of $2,500,000. Costs associated with securing the Revolving Credit Facility of approximately $222,000 were deferred and amortized over the term of the agreement. Amortization of deferred financing costs for the three months ended June 30, 2015 and 2014 was $18,519 and $0, respectively.

As a condition of the Revolving Credit Facility, a portion of the Company’s related-party debt with Ram Light Management, Ltd.in the amount of $1,100,000 was converted to a note payable with Ram Light Management, Ltd. (“Ram Light Note”). The Ram Light Note bears interest at 6% per annum with quarterly payments of $150,000 (including principal and interest) payable beginning December 31, 2014. Scheduled principal and interest payment of $150,000 will only be permitted upon receipt of the Company’s current quarterly compliance certificate; the Company having met the mandatory pay-down of the Revolving Credit Facility to $1,000,000 and average excess availability for the prior 30 days (after subtraction of third party trade payables 30 days or more past due) of no less than $1,000,000 after giving effect to the payment. The Company has not met the above requirements for the first three scheduled payments and as a result has not made any scheduled payments on the note as of June 30, 2015. For the three months ended June 30, 2015 and 2014 the company accrued interest expense on the Ram Light Note in the amount of $17,283 and $0, respectively.

X

- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19,20,22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DebtDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_LineOfCreditFacilityAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 48 R23.htm IDEA: XBRL DOCUMENT v3.2.0.727

INVENTORIES, NET (Tables)
3 Months Ended

Jun. 30, 2015

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories are comprised of the following components:

June 30,

March 31,

2015

2015

(unaudited)

(audited)

Finished Goods

$

7,893,750

$

7,869,167

Inventory in Transit

600,038

-

Inventory Reserve

(383,440)

(421,000)

Inventories, net

$

8,110,348

$

7,448,167

X

- References
No definition available.
+ Details

Name: us-gaap_InventoryDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 2

-Paragraph 6

-Subparagraph a,b,c

-Article 5

+ Details

Name: us-gaap_ScheduleOfInventoryCurrentTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 49 R19.htm IDEA: XBRL DOCUMENT v3.2.0.727

RELATED PARTY TRANSACTIONS
3 Months Ended

Jun. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions Disclosure Excluding Due To Or From [Text Block]

NOTE 14 – RELATED PARTY TRANSACTIONS

During the three months ended June 30, 2015 and June 30, 2014 the Company sold $64,903 and $316,594, respectively to Starlight Electronics Company, Ltd (“SLE”), a related party, at a discounted price, similar to prices granted to major direct import customers shipped internationally with freight prepaid. The average gross profit margin on sales to SLE for the three months ended June 30, 2015 and June 30, 2014 was 14.7% and 16.6%, respectively. The product was drop shipped to Cosmo Communications of Canada (“Cosmo”), the Company’s primary distributor of its products to Canada. During the three months ended June 30, 2015 and June 30, 2014 the Company sold an additional $113,962 and $101,161, respectively of product to Cosmo from its California warehouse facility. These amounts were included as a component of cost of goods sold in the accompanying condensed consolidated statements of operations.

The Company purchased products and services from Starlight R&D, Ltd, (“SLRD”) a related party. The purchases from SLRD for the three month periods ended June 30, 2015 and 2014 were $32,857 and $24,769, respectively. The Company purchased products from Starlight Consumer Electronics USA, Inc., (“SCE”) a related party. The purchases from SCE for the three month periods ended June 30, 2015 and 2014 were $165,893 and $1,598,200, respectively. These amounts were included as a component of cost of goods sold in the accompanying condensed consolidated statements of operations.

Effective April 1 2015, SMC-L entered into a service and logistics agreement with SCE, Cosmo and SLE, to provide logistics, fulfillment, and warehousing services for Shihua affiliated companies SCE, Cosmo and SLE’s domestic sales. For these services, Starlight USA, Cosmo and SLE have agreed to reimburse the Company for actual warehouse space occupied by these companies at $0.096 per cubic foot and for logistics services performed based on an agreed to fee schedule specified in the agreement. For the three months ended June 30, 2015 and 2014, the company received approximately $19,885 and $0, respectively. The Company estimates it will receive approximately $100,000 in expense reimbursements for the fiscal year ending March 31, 2016 related to this agreement.

Effective April 1 2014, SMC-L entered into a service and logistics agreement with SCE, Cosmo and SLE, to provide logistics, fulfillment, and warehousing services for Shihua affiliated companies SCE, Cosmo and SLE’s domestic sales. For these services, Starlight USA, Cosmo and SLE agreed to reimburse the Company for actual warehouse space occupied by these companies at $8 per pallet and for logistics services performed based on an agreed to fee schedule specified in the agreement. For the three months ended June 30, 2015 and 2014 the Company received $0 and $43,285, respectively. These amounts were included as a component of general and administrative expenses in the accompanying condensed consolidated statements of operations. This agreement expired on March 31, 2015.

X

- Definition
The entire disclosure of related party transactions, including the nature of the relationship(s), a description of the transactions, the amount for the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and excluding the amounts due to or from related parties.
+ References
No definition available.
+ Details

Name: smdm_RelatedPartyTransactionsDisclosureExcludingDueToOrFromTextBlock

Namespace Prefix: smdm_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_RelatedPartyTransactionsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 50 R15.htm IDEA: XBRL DOCUMENT v3.2.0.727

COMMITMENTS AND CONTINGENCIES
3 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

NOTE 10 - COMMITMENTS AND CONTINGENCIES

LEGAL MATTERS

Management is currently not aware of any legal proceedings.

OPERATING LEASES

The Company has entered into various operating lease agreements for office and warehouse facilities in Fort Lauderdale, Florida, Ontario, California and Macau expiring at varying dates. Rent expense for the three month periods ended June 30, 2015 and 2014 was $155,221 and $163,470 respectively.

In addition, the Company maintains various warehouse equipment and computer equipment operating leases. Future minimum lease payments under property and equipment leases with terms exceeding one year as of June 30, 2015 are as follows:

Operating Leases

For period ending

June 30,

2015

$

547,316

2016

535,626

2017

487,671

2018

518,171

2019

524,272

2020 and beyond

218,447

$

2,831,503

X

- References
No definition available.
+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for commitments and contingencies.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 450

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=25496072&loc=d3e14435-108349

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.25)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 440

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6394976&loc=d3e25287-109308

+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 51 R13.htm IDEA: XBRL DOCUMENT v3.2.0.727

CUSTOMER DEPOSITS
3 Months Ended

Jun. 30, 2015

Customer Deposits [Abstract]

Customer Deposits Disclosure [Text Block]

NOTE 8 – CUSTOMER DEPOSITS

Normal credit terms to foreign customers shipped direct import from our Macau subsidiary are 50% of invoice price prior to shipment with the remaining 50% of invoice price due at time of shipment. As of June 30, 2015 and March 31, 2015 there was a total of $287,110 and $0, respectively on deposit with the company for future period shipments.

X

- References
No definition available.
+ Details

Name: smdm_CustomerDepositsAbstract

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: smdm_CustomerDepositsDisclosureTextBlock

Namespace Prefix: smdm_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 52 R14.htm IDEA: XBRL DOCUMENT v3.2.0.727

OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES
3 Months Ended

Jun. 30, 2015

Payables and Accruals [Abstract]

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

NOTE 9 - OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES

Due to the seasonality of the business and length of time customers are given to return defective product, it is not uncommon for customers 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 customers’ accounts receivable are reclassified to “obligations to customers for returns and allowances” in current liabilities on the condensed consolidated balance sheets. Client requests for payment of a credit balance are reclassified from obligations to customers 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, 2015 and March 31, 2015 obligations to customers for returns and allowances reclassified from accounts receivable were $10,361 and $399,419, respectively. As of June 30, 2015 and March 31, 2015, there were no customers requesting payment of their credit balance and as such there were no amounts reclassified from obligations to customers for returns and allowances to accounts payable.

X

- Definition
The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.
+ References
No definition available.
+ Details

Name: us-gaap_AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_PayablesAndAccrualsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 53 R16.htm IDEA: XBRL DOCUMENT v3.2.0.727

SHAREHOLDERS' EQUITY
3 Months Ended

Jun. 30, 2015

Stockholders' Equity Note [Abstract]

Stockholders Equity Note Disclosure [Text Block]

NOTE 11 - SHAREHOLDERS' EQUITY

COMMON STOCK ISSUANCES

During the three months ended June 30, 2015 and 2014, the Company did not issue any shares of its common stock.

STOCK OPTIONS

On June 1, 2001, the Board of Directors approved the 2001 Stock Option Plan (“Plan”), which replaced the 1994 Stock Option Plan, as amended. The Plan was developed to provide a means whereby directors and selected employees, officers, consultants, and advisors of the Company were granted incentive or non-qualified stock options to purchase common stock of the Company. As of June 30, 2015, the Plan had expired and no shares were available to be issued. As of June 30, 2015, there were 1,102,000 options still outstanding and exercisable under the Plan. This does not include an additional 760,000 options issued after the expiration date of the Plan to directors and key employees as compensation that were not issued from the Plan.

There were no stock options issued during the three months ended June 30, 2015.

X

- References
No definition available.
+ Details

Name: us-gaap_StockholdersEquityNoteAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SAB TOPIC 4.C)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

+ Details

Name: us-gaap_StockholdersEquityNoteDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 54 R34.htm IDEA: XBRL DOCUMENT v3.2.0.727

LINE OF CREDIT (Details Textual) - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Mar. 31, 2015

Line of Credit Facility [Line Items]

Line of Credit Facility, Increase, Accrued Interest $ 0 $ 1,576

Percentage Of Factoring Fees 1.00%

Line Of Credit Commission Expenses $ 0 14,506

Due to Related Parties $ 1,100,000 $ 0

Line Of Credit Facility Sub Limits Description The Revolving Credit Facility includes the following sub-limits: ⋅ Letters of Credit to be issued limited to $3,000,000. Inventory availability limited to $4,000,000. Mandatory pay-down to $1,000,000 (excluding letters of credit) for any 30 consecutive days between February 1 and April 30.

Line of Credit Facility, Description Usage under the Revolving Credit Facility shall not exceed the sum of the following (the “Borrowing Base”): Up to 85% of the company’s eligible domestic and Canadian accounts receivable aged less than 60 days past due (not to exceed 90 days from invoice date, cross aged on the basis of 50% or more past due with certain specific accounts qualifying for up to 120 days from invoice date not to exceed 30 days from the due date; plus ⋅ Up to the lesser of (a) 50% of the cost of eligible inventory or (b) 75% of net orderly liquidation value percentage of eligible inventory (annual inventory appraisals required); minus An all-time $500,000 block; minus Applicable reserves including a dilution reserve equal to 125% of the Company’s advertising and return accrual reserves. Dilution reserve not to exceed availability generated from eligible accounts receivable.

Line of Credit Facility, Interest Rate Description Interest on the line of credit and discounting charges on accounts receivable advances was accrued at a rate of 2% per annum over the prime rate as published by the Wall Street Journal and at no time was the effective rate be less than 5.25% per annum.

Interest Expense, Borrowings $ 9,665 0

Amortization of Financing Costs $ 18,519 0

Unused lines of Credit [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Unused Capacity, Commitment Fee Percentage 0.375%

Line of Credit Facility, Commitment Fee Amount $ 6,142 0

Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Interest Rate During Period 2.00%

Line of Credit Facility, Covenant Terms The Revolving Credit Facility must comply with the following quarterly financial covenants to avoid default: Fixed charge coverage ratio test of 1.1:1 times measured on a rolling four quarter basis, defined as EBITDA less non-financed capital expenditures, cash dividends and distributions paid and cash taxes paid divided by the sum of interest and principal on all indebtedness. Capital expenditures limited to $150,000 per year.

Debt Instrument, Maturity Date Jul. 14, 2017

Debt Instrument, Term 360 days

Line Of Credit Facility Default Rate 2.00%

Debt Instrument, Basis Spread on Variable Rate 3.50%

First Priority Security Ownership Interest Percentage 100.00%

First Priority Lien Percentage 65.00%

Ram Light Management, Ltd [Member]

Line of Credit Facility [Line Items]

Due to Related Parties $ 1,683,247

Debt Instrument, Payment Terms The Ram Light Note bears interest at 6% per annum with quarterly payments of $150,000 (including principal and interest) payable beginning December 31, 2014. Scheduled principal and interest payment of $150,000 will only be permitted upon receipt of the Company’s current quarterly compliance certificate; the Company having met the mandatory pay-down of the Revolving Credit Facility to $1,000,000 and average excess availability for the prior 30 days (after subtraction of third party trade payables 30 days or more past due) of no less than $1,000,000 after giving effect to the payment.

Conversion Of Related Party Debt $ 1,100,000

Starlight Marketing Development, Ltd [Member]

Line of Credit Facility [Line Items]

Due to Related Parties 816,753

Starlight Marketing Development, Ltd [Member] | Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Collateral Amount 2,500,000

Debt Instrument, Collateral Fee 222,000

Related Party [Member]

Line of Credit Facility [Line Items]

Due to Related Parties 2,500,000

Ram Light Note [Member]

Line of Credit Facility [Line Items]

Interest Expense, Related Party 17,283 $ 0

Peak Selling Season Between August 1 And December 31 [Member] | Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Amount Outstanding During Period 15,000,000

Peak Selling Season Between January 1 And July 31 [Member] | Revolving Credit Facility [Member]

Line of Credit Facility [Line Items]

Line of Credit Facility, Maximum Amount Outstanding During Period $ 7,500,000

X

- Definition
The amount of entities related party debt converted to notes payable under credit facility.
+ References
No definition available.
+ Details

Name: smdm_ConversionOfRelatedPartyDebt

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Represents percentage first priority lien.
+ References
No definition available.
+ Details

Name: smdm_FirstPriorityLienPercentage

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition
Represents percentage first priority security ownership interest.
+ References
No definition available.
+ Details

Name: smdm_FirstPrioritySecurityOwnershipInterestPercentage

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: instant

X

- Definition
Represents the amount of commission expenses related to the line of credit.
+ References
No definition available.
+ Details

Name: smdm_LineOfCreditCommissionExpenses

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Represents default rate pursuant to credit facility.
+ References
No definition available.
+ Details

Name: smdm_LineOfCreditFacilityDefaultRate

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Represents description of sub limits under line of credit facility.
+ References
No definition available.
+ Details

Name: smdm_LineOfCreditFacilitySubLimitsDescription

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Represents the factoring fees charged regarding accounts receivable.
+ References
No definition available.
+ Details

Name: smdm_PercentageOfFactoringFees

Namespace Prefix: smdm_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.8)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 8

-Article 9

+ Details

Name: us-gaap_AmortizationOfFinancingCosts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument.
+ References
No definition available.
+ Details

Name: us-gaap_DebtInstrumentBasisSpreadOnVariableRate1

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of assets pledged to secure a debt instrument.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Name: us-gaap_DebtInstrumentCollateralAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of fees associated with providing collateral for the debt instrument.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

+ Details

Name: us-gaap_DebtInstrumentCollateralFee

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22(a)(2))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_DebtInstrumentMaturityDate

Namespace Prefix: us-gaap_

Data Type: xbrli:dateItemType

Balance Type: na

Period Type: duration

X

- Definition
Description of the payment terms of the debt instrument (for example, whether periodic payments include principal and frequency of payments) and discussion about any contingencies associated with the payment.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22(a)(3))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Name: us-gaap_DebtInstrumentPaymentTerms

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ References
No definition available.
+ Details

Name: us-gaap_DebtInstrumentTerm

Namespace Prefix: us-gaap_

Data Type: xbrli:durationItemType

Balance Type: na

Period Type: duration

X

- Definition
Carrying amount as of the balance sheet date of obligations due all related parties.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (d)

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k)(1))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-03.15(3),(4))

-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 210

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-03.17)

-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

+ Details

Name: us-gaap_DueToRelatedPartiesCurrentAndNoncurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

X

- Definition
Aggregate amount of interest expense on all borrowings.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.9-04.7,8)

-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

+ Details

Name: us-gaap_InterestExpenseBorrowings

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of interest expense incurred on a debt or other obligation to related party.
+ References
No definition available.
+ Details

Name: us-gaap_InterestExpenseRelatedParty

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of the fee for available but unused credit capacity under the credit facility.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityCommitmentFeeAmount

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Description of the conditions for borrowing under the credit facility including the nature of any restrictions.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityCovenantTerms

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Description of the terms of a credit facility arrangement. Terms typically include interest rate, collateral required, guarantees required, repayment requirements, and restrictions on use of assets and activities of the entity.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityDescription

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Increase for accrued, but unpaid interest on the credit facility for the period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name: us-gaap_LineOfCreditFacilityIncreaseAccruedInterest

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Description of the interest rate for the amounts borrowed under the credit facility, including the terms and the method for determining the interest rate (for example, fixed or variable, LIBOR plus a percentage, increasing rate, timing of interest rate resets, remarketing provisions).
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityInterestRateDescription

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The effective interest rate during the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.19(b),22(b))

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_LineOfCreditFacilityInterestRateDuringPeriod

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
+ Details

Name: us-gaap_LineOfCreditFacilityLineItems

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Maximum amount borrowed under the credit facility at any time during the period.
+ References
No definition available.
+ Details

Name: us-gaap_LineOfCreditFacilityMaximumAmountOutstandingDuringPeriod

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility.
+ References
No definition available.
+ Details

Name: us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage

Namespace Prefix: us-gaap_

Data Type: num:percentItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_FinancialInstrumentAxis=us-gaap_UnusedLinesOfCreditMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_RamLightManagementLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_StarlightMarketingDevelopmentLtdMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_RelatedPartyMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=smdm_RamLightNoteMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: smdm_SalesAxis=smdm_PeakSellingSeasonBetweenAugust1AndDecember31Member

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: smdm_SalesAxis=smdm_PeakSellingSeasonBetweenJanuary1AndJuly31Member

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 55 R21.htm IDEA: XBRL DOCUMENT v3.2.0.727

EMPLOYEE BENEFIT PLANS
3 Months Ended

Jun. 30, 2015

Compensation and Retirement Disclosure [Abstract]

Compensation and Employee Benefit Plans [Text Block]

NOTE 13 - EMPLOYEE BENEFIT PLANS

The Company has a 401(k) plan for its employees to which the Company makes contributions at rates dependent on the level of each employee's contributions. Contributions made by the Company are limited to the maximum allowable for federal income tax purposes. The amounts charged to operations for contributions to this plan and administrative costs during the three month periods ended June 30, 2015 and 2014 totaled $9,258 and $6,720, respectively. The amounts are included as a component of general and administrative expense in the accompanying Consolidated Statements of Income. The Company does not provide any post-employment benefits to retirees.

X

- Definition
The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans.
+ References
No definition available.
+ Details

Name: us-gaap_CompensationAndEmployeeBenefitPlansTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_CompensationAndRetirementDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 56 R26.htm IDEA: XBRL DOCUMENT v3.2.0.727

COMMITMENTS AND CONTINGENCIES (Tables)
3 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Future minimum lease payments under property and equipment leases with terms exceeding one year as of June 30, 2015 are as follows:

Operating Leases

For period ending

June 30,

2015

$

547,316

2016

535,626

2017

487,671

2018

518,171

2019

524,272

2020 and beyond

218,447

$

2,831,503

X

- References
No definition available.
+ Details

Name: us-gaap_CommitmentsAndContingenciesDisclosureAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 840

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6453985&loc=d3e41502-112717

+ Details

Name: us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 57 R41.htm IDEA: XBRL DOCUMENT v3.2.0.727

SHAREHOLDERS' EQUITY (Details Textual)

Jun. 30, 2015

shares

Shareholders' Equity [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance 760,000

Stock Option Plan 2001 [Member]

Shareholders' Equity [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance 1,102,000

X

- References
No definition available.
+ Details

Name: smdm_ShareholdersEquityLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Number of options outstanding, including both vested and non-vested options.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 718

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)(1)(i)-(ii)

-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

+ Details

Name: us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber

Namespace Prefix: us-gaap_

Data Type: xbrli:sharesItemType

Balance Type: na

Period Type: instant

X

- Details

Name: us-gaap_PlanNameAxis=smdm_StockOptionPlan2001Member

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 58 R5.htm IDEA: XBRL DOCUMENT v3.2.0.727

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended

Jun. 30, 2015

Jun. 30, 2014

Cash flows from operating activities:

Net Loss $ (494,926) $ (499,529)

Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation 37,333 29,331

Amortization of deferred financing costs 18,519 0

Change in inventory reserve (37,560) 0

Change in allowance for bad debts (127,433) (23,757)

Stock based compensation 2,001 32,398

Warranty provisions (44,799) (78,348)

Change in net deferred tax assets (312,325) (289,891)

Changes in operating assets and liabilities:

Accounts receivable (80,027) (70,487)

Inventories (624,621) (5,701,055)

Prepaid expenses and other current assets 1,914 (80,613)

Other non-current assets 0 (659)

Increase (decrease) in:

Accounts payable 258,092 4,879,506

Net due to related parties (58,796) 642,540

Accrued expenses 182,533 97,275

Customer deposits 287,110 0

Obligations to customers for returns and allowances (389,058) 25,588

Net cash used in operating activities (1,244,628) (1,037,701)

Cash flows from investing activities:

Purchase of property and equipment (42,157) (33,013)

Net cash used in investing activities (42,157) (33,013)

Cash flows from financing activities:

Payments on long-term capital lease (3,105) (2,969)

Net cash provided by financing activities 1,533,909 81,445

Net change in cash 247,124 (989,269)

Cash at beginning of period 116,286 1,354,099

Cash at end of the period 363,410 364,830

Supplemental Disclosures of Cash Flow Information:

Cash paid for interest 9,665 1,842

Revolving Credit Facility [Member]

Cash flows from financing activities:

Net proceeds from credit facility 1,537,014 84,414

PNC Bank [Member]

Changes in operating assets and liabilities:

Due from Affiliates $ 137,415 $ 0

X

- Definition
The increase (decrease) during the reporting period in the amount of customer refund liability.
+ References
No definition available.
+ Details

Name: smdm_IncreaseDecreaseInCustomerRefundLiability

Namespace Prefix: smdm_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.8)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 8

-Article 9

+ Details

Name: us-gaap_AmortizationOfFinancingCosts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Cash

-URI http://asc.fasb.org/extlink&oid=6506951

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.1)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

+ Details

Name: us-gaap_Cash

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: instant

X

- Definition
Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 830

-SubTopic 230

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=49171198&loc=d3e33268-110906

+ Details

Name: us-gaap_CashPeriodIncreaseDecrease

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_Depreciation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in receivables to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseDueFromAffiliates

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsPayable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccountsReceivable

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInAccruedLiabilities

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The increase (decrease) during the period in the amount of customer money held in customer accounts, including security deposits, collateral for a current or future transactions, initial payment of the cost of acquisition or for the right to enter into a contract or agreement.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInCustomerDeposits

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in the account that represents the temporary difference that results from Income or Loss that is recognized for accounting purposes but not for tax purposes and vice versa.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInDeferredIncomeTaxes

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInInventories

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_IncreaseDecreaseInOperatingCapitalAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_IncreaseDecreaseInOperatingLiabilitiesAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in other noncurrent operating assets not separately disclosed in the statement of cash flows.
+ References
No definition available.
+ Details

Name: us-gaap_IncreaseDecreaseInOtherNoncurrentAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The amount of cash paid for interest during the period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6367179&loc=d3e4297-108586

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-Subparagraph (e)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585

+ Details

Name: us-gaap_InterestPaid

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 330

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=28360613&loc=d3e4542-108314

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.2)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

+ Details

Name: us-gaap_InventoryWriteDown

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3574-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 24

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3521-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 25

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3536-108585

+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperationsAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Net Income

-URI http://asc.fasb.org/extlink&oid=51831255

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.19)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.18)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 944

-SubTopic 225

-Section S99

-Paragraph 1

-Subparagraph (SX 210.7-04.22)

-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Other Comprehensive Income

-URI http://asc.fasb.org/extlink&oid=51831270

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 03

-Paragraph 19

-Article 5

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Paragraph 20

-Article 9

+ Details

Name: us-gaap_NetIncomeLoss

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Investing Activities

-URI http://asc.fasb.org/extlink&oid=6516133

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 13

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3213-108585

+ Details

Name: us-gaap_PaymentsToAcquirePropertyPlantAndEquipment

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Financing Activities

-URI http://asc.fasb.org/extlink&oid=6513228

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 14

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3255-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name: us-gaap_ProceedsFromLinesOfCredit

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The expense charged against earnings for the period pertaining to standard and extended warranties on the entity's goods and services granted to customers.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-Subparagraph ((c)(3,4))

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_ProductWarrantyExpense

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.5)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_ProvisionForDoubtfulAccounts

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt and payment of capital lease obligations.
+ References
No definition available.
+ Details

Name: us-gaap_RepaymentsOfDebtAndCapitalLeaseObligations

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: duration

X

- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 230

-SubTopic 10

-Section 45

-Paragraph 28

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=56944662&loc=d3e3602-108585

+ Details

Name: us-gaap_ShareBasedCompensation

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: debit

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_SupplementalCashFlowInformationAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Details

Name: us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

X

- Details

Name: dei_LegalEntityAxis=smdm_PncBankMember

Namespace Prefix:

Data Type: na

Balance Type:

Period Type:

XML 59 R10.htm IDEA: XBRL DOCUMENT v3.2.0.727

PROPERTY AND EQUIPMENT
3 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 5 - PROPERTY AND EQUIPMENT

A summary of property and equipment is as follows:

USEFUL

June 30,

March 31,

LIFE

2015

2015

(unaudited)

(audited)

Computer and office equipment

5 years

$

285,650

$

285,650

Furniture and fixtures

5-7 years

4,312

4,312

Warehouse equipment

7 years

224,106

224,106

Molds and tooling

3-5 years

2,399,290

2,357,133

2,913,358

2,871,201

Accumulated depreciation

2,441,963

2,404,630

$

471,395

$

466,571

Depreciation expense for the three months ended June 30, 2015 and June 30, 2014 was $37,333 and $29,331, respectively.

X

- References
No definition available.
+ Details

Name: us-gaap_PropertyPlantAndEquipmentAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- 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.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13-14)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 205

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

+ Details

Name: us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

XML 60 R27.htm IDEA: XBRL DOCUMENT v3.2.0.727

GEOGRAPHICAL INFORMATION (Tables)
3 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]

All sales to customers outside of the United States for the three months ended June 30, 2015 were made by the Macau Subsidiary. Sales by geographic region for the periods presented are as follows:

2015

2014

North America

$

3,073,577

$

2,290,253

Europe

237,507

254,706

South Africa

155,790

-

$

3,466,874

$

2,544,959

X

- Definition
Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SX 210.5-03.1)

-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

+ Details

Name: us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

X

- References
No definition available.
+ Details

Name: us-gaap_SegmentReportingAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

XML 61 FilingSummary.xml IDEA: XBRL DOCUMENT 3.2.0.727 html 87 211 1 false 38 0 false 4 false false R1.htm 101 - Document - Document And Entity Information Sheet http://www.singingmachine.com/role/DocumentAndEntityInformation Document And Entity Information Cover 1 false false R2.htm 102 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS Sheet http://www.singingmachine.com/role/CondensedConsolidatedBalanceSheets CONDENSED CONSOLIDATED BALANCE SHEETS Statements 2 false false R3.htm 103 - Statement - CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] Sheet http://www.singingmachine.com/role/CondensedConsolidatedBalanceSheetsParenthetical CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] Statements 3 false false R4.htm 104 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Sheet http://www.singingmachine.com/role/CondensedConsolidatedStatementsOfOperations CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Statements 4 false false R5.htm 105 - Statement - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Sheet http://www.singingmachine.com/role/CondensedConsolidatedStatementsOfCashFlows CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Statements 5 false false R6.htm 106 - Disclosure - BASIS OF PRESENTATION Sheet http://www.singingmachine.com/role/BasisOfPresentation BASIS OF PRESENTATION Notes 6 false false R7.htm 107 - Disclosure - SUMMARY OF ACCOUNTING POLICIES Sheet http://www.singingmachine.com/role/SummaryOfAccountingPolicies SUMMARY OF ACCOUNTING POLICIES Notes 7 false false R8.htm 108 - Disclosure - DUE FROM PNC BANK Sheet http://www.singingmachine.com/role/DueFromPncBank DUE FROM PNC BANK Notes 8 false false R9.htm 109 - Disclosure - INVENTORIES, NET Sheet http://www.singingmachine.com/role/InventoriesNet INVENTORIES, NET Notes 9 false false R10.htm 110 - Disclosure - PROPERTY AND EQUIPMENT Sheet http://www.singingmachine.com/role/PropertyAndEquipment PROPERTY AND EQUIPMENT Notes 10 false false R11.htm 111 - Disclosure - LINE OF CREDIT Sheet http://www.singingmachine.com/role/LineOfCredit LINE OF CREDIT Notes 11 false false R12.htm 112 - Disclosure - LONG-TERM CAPITAL LEASE Sheet http://www.singingmachine.com/role/LongtermCapitalLease LONG-TERM CAPITAL LEASE Notes 12 false false R13.htm 113 - Disclosure - CUSTOMER DEPOSITS Sheet http://www.singingmachine.com/role/CustomerDeposits CUSTOMER DEPOSITS Notes 13 false false R14.htm 114 - Disclosure - OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES Sheet http://www.singingmachine.com/role/ObligationsToCustomersForReturnsAndAllowances OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES Notes 14 false false R15.htm 115 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://www.singingmachine.com/role/CommitmentsAndContingencies COMMITMENTS AND CONTINGENCIES Notes 15 false false R16.htm 116 - Disclosure - SHAREHOLDERS' EQUITY Sheet http://www.singingmachine.com/role/ShareholdersEquity SHAREHOLDERS' EQUITY Notes 16 false false R17.htm 117 - Disclosure - GEOGRAPHICAL INFORMATION Sheet http://www.singingmachine.com/role/GeographicalInformation GEOGRAPHICAL INFORMATION Notes 17 false false R18.htm 118 - Disclosure - DUE TO / FROM RELATED PARTIES, NET Sheet http://www.singingmachine.com/role/DueToFromRelatedPartiesNet DUE TO / FROM RELATED PARTIES, NET Notes 18 false false R19.htm 119 - Disclosure - RELATED PARTY TRANSACTIONS Sheet http://www.singingmachine.com/role/RelatedPartyTransactions RELATED PARTY TRANSACTIONS Notes 19 false false R20.htm 120 - Disclosure - WARRANTY PROVISIONS Sheet http://www.singingmachine.com/role/WarrantyProvisions WARRANTY PROVISIONS Notes 20 false false R21.htm 121 - Disclosure - EMPLOYEE BENEFIT PLANS Sheet http://www.singingmachine.com/role/EmployeeBenefitPlans EMPLOYEE BENEFIT PLANS Notes 21 false false R22.htm 122 - Disclosure - SUMMARY OF ACCOUNTING POLICIES (Policies) Sheet http://www.singingmachine.com/role/SummaryOfAccountingPoliciesPolicies SUMMARY OF ACCOUNTING POLICIES (Policies) Policies 22 false false R23.htm 123 - Disclosure - INVENTORIES, NET (Tables) Sheet http://www.singingmachine.com/role/InventoriesNetTables INVENTORIES, NET (Tables) Tables http://www.singingmachine.com/role/InventoriesNet 23 false false R24.htm 124 - Disclosure - PROPERTY AND EQUIPMENT (Tables) Sheet http://www.singingmachine.com/role/PropertyAndEquipmentTables PROPERTY AND EQUIPMENT (Tables) Tables http://www.singingmachine.com/role/PropertyAndEquipment 24 false false R25.htm 125 - Disclosure - LONG-TERM CAPITAL LEASE (Tables) Sheet http://www.singingmachine.com/role/LongtermCapitalLeaseTables LONG-TERM CAPITAL LEASE (Tables) Tables http://www.singingmachine.com/role/LongtermCapitalLease 25 false false R26.htm 126 - Disclosure - COMMITMENTS AND CONTINGENCIES (Tables) Sheet http://www.singingmachine.com/role/CommitmentsAndContingenciesTables COMMITMENTS AND CONTINGENCIES (Tables) Tables http://www.singingmachine.com/role/CommitmentsAndContingencies 26 false false R27.htm 127 - Disclosure - GEOGRAPHICAL INFORMATION (Tables) Sheet http://www.singingmachine.com/role/GeographicalInformationTables GEOGRAPHICAL INFORMATION (Tables) Tables http://www.singingmachine.com/role/GeographicalInformation 27 false false R28.htm 128 - Disclosure - WARRANTY PROVISIONS (Tables) Sheet http://www.singingmachine.com/role/WarrantyProvisionsTables WARRANTY PROVISIONS (Tables) Tables http://www.singingmachine.com/role/WarrantyProvisions 28 false false R29.htm 129 - Disclosure - SUMMARY OF ACCOUNTING POLICIES (Details Textual) Sheet http://www.singingmachine.com/role/SummaryOfAccountingPoliciesDetailsTextual SUMMARY OF ACCOUNTING POLICIES (Details Textual) Details http://www.singingmachine.com/role/SummaryOfAccountingPoliciesPolicies 29 false false R30.htm 130 - Disclosure - DUE FROM PNC BANK (Details Textual) Sheet http://www.singingmachine.com/role/DueFromPncBankDetailsTextual DUE FROM PNC BANK (Details Textual) Details http://www.singingmachine.com/role/DueFromPncBank 30 false false R31.htm 131 - Disclosure - INVENTORIES, NET (Details) Sheet http://www.singingmachine.com/role/InventoriesNetDetails INVENTORIES, NET (Details) Details http://www.singingmachine.com/role/InventoriesNetTables 31 false false R32.htm 132 - Disclosure - PROPERTY AND EQUIPMENT (Details) Sheet http://www.singingmachine.com/role/PropertyAndEquipmentDetails PROPERTY AND EQUIPMENT (Details) Details http://www.singingmachine.com/role/PropertyAndEquipmentTables 32 false false R33.htm 133 - Disclosure - PROPERTY AND EQUIPMENT (Details Textual) Sheet http://www.singingmachine.com/role/PropertyAndEquipmentDetailsTextual PROPERTY AND EQUIPMENT (Details Textual) Details http://www.singingmachine.com/role/PropertyAndEquipmentTables 33 false false R34.htm 134 - Disclosure - LINE OF CREDIT (Details Textual) Sheet http://www.singingmachine.com/role/LineOfCreditDetailsTextual LINE OF CREDIT (Details Textual) Details http://www.singingmachine.com/role/LineOfCredit 34 false false R35.htm 135 - Disclosure - LONG-TERM CAPITAL LEASE (Details) Sheet http://www.singingmachine.com/role/LongtermCapitalLeaseDetails LONG-TERM CAPITAL LEASE (Details) Details http://www.singingmachine.com/role/LongtermCapitalLeaseTables 35 false false R36.htm 136 - Disclosure - LONG-TERM CAPITAL LEASE (Details Textual) Sheet http://www.singingmachine.com/role/LongtermCapitalLeaseDetailsTextual LONG-TERM CAPITAL LEASE (Details Textual) Details http://www.singingmachine.com/role/LongtermCapitalLeaseTables 36 false false R37.htm 137 - Disclosure - CUSTOMER DEPOSITS (Details Textual) Sheet http://www.singingmachine.com/role/CustomerDepositsDetailsTextual CUSTOMER DEPOSITS (Details Textual) Details http://www.singingmachine.com/role/CustomerDeposits 37 false false R38.htm 138 - Disclosure - OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES (Details Textual) Sheet http://www.singingmachine.com/role/ObligationsToCustomersForReturnsAndAllowancesDetailsTextual OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES (Details Textual) Details http://www.singingmachine.com/role/ObligationsToCustomersForReturnsAndAllowances 38 false false R39.htm 139 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details) Sheet http://www.singingmachine.com/role/CommitmentsAndContingenciesDetails COMMITMENTS AND CONTINGENCIES (Details) Details http://www.singingmachine.com/role/CommitmentsAndContingenciesTables 39 false false R40.htm 140 - Disclosure - COMMITMENTS AND CONTINGENCIES (Details Textual) Sheet http://www.singingmachine.com/role/CommitmentsAndContingenciesDetailsTextual COMMITMENTS AND CONTINGENCIES (Details Textual) Details http://www.singingmachine.com/role/CommitmentsAndContingenciesTables 40 false false R41.htm 141 - Disclosure - SHAREHOLDERS' EQUITY (Details Textual) Sheet http://www.singingmachine.com/role/ShareholdersEquityDetailsTextual SHAREHOLDERS' EQUITY (Details Textual) Details http://www.singingmachine.com/role/ShareholdersEquity 41 false false R42.htm 142 - Disclosure - GEOGRAPHICAL INFORMATION (Details) Sheet http://www.singingmachine.com/role/GeographicalInformationDetails GEOGRAPHICAL INFORMATION (Details) Details http://www.singingmachine.com/role/GeographicalInformationTables 42 false false R43.htm 143 - Disclosure - DUE TO / FROM RELATED PARTIES, NET (Details Textual) Sheet http://www.singingmachine.com/role/DueToFromRelatedPartiesNetDetailsTextual DUE TO / FROM RELATED PARTIES, NET (Details Textual) Details http://www.singingmachine.com/role/DueToFromRelatedPartiesNet 43 false false R44.htm 144 - Disclosure - RELATED PARTY TRANSACTIONS (Details Textual) Sheet http://www.singingmachine.com/role/RelatedPartyTransactionsDetailsTextual RELATED PARTY TRANSACTIONS (Details Textual) Details http://www.singingmachine.com/role/RelatedPartyTransactions 44 false false R45.htm 145 - Disclosure - WARRANTY PROVISIONS (Details) Sheet http://www.singingmachine.com/role/WarrantyProvisionsDetails WARRANTY PROVISIONS (Details) Details http://www.singingmachine.com/role/WarrantyProvisionsTables 45 false false R46.htm 146 - Disclosure - WARRANTY PROVISIONS (Details Textual) Sheet http://www.singingmachine.com/role/WarrantyProvisionsDetailsTextual WARRANTY PROVISIONS (Details Textual) Details http://www.singingmachine.com/role/WarrantyProvisionsTables 46 false false R47.htm 147 - Disclosure - EMPLOYEE BENEFIT PLANS (Details Textual) Sheet http://www.singingmachine.com/role/EmployeeBenefitPlansDetailsTextual EMPLOYEE BENEFIT PLANS (Details Textual) Details http://www.singingmachine.com/role/EmployeeBenefitPlans 47 false false All Reports Book All Reports In ''CONDENSED CONSOLIDATED BALANCE SHEETS'', column(s) 3, 4 are contained in other reports, so were removed by flow through suppression. smdm-20150630.xml smdm-20150630_cal.xml smdm-20150630_def.xml smdm-20150630_lab.xml smdm-20150630_pre.xml smdm-20150630.xsd true true XML 62 R38.htm IDEA: XBRL DOCUMENT v3.2.0.727

OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES (Details Textual) - USD ($)

Jun. 30, 2015

Mar. 31, 2015

Obligations To Clients For Returns And Allowances [Line Items]

Customer Refund Liability, Current $ 10,361 $ 399,419

X

- References
No definition available.
+ Details

Name: smdm_ObligationsToClientsForReturnsAndAllowancesLineItems

Namespace Prefix: smdm_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
Current regulatory liabilities generally represent obligations to make refunds to customers for various reasons including overpayment.
+ References
No definition available.
+ Details

Name: us-gaap_CustomerRefundLiabilityCurrent

Namespace Prefix: us-gaap_

Data Type: xbrli:monetaryItemType

Balance Type: credit

Period Type: instant

XML 63 R20.htm IDEA: XBRL DOCUMENT v3.2.0.727

WARRANTY PROVISIONS
3 Months Ended

Jun. 30, 2015

Product Warranties Disclosures [Abstract]

Product Warranty Disclosure [Text Block]

NOTE 15 – WARRANTY PROVISIONS

A return program for defective goods is negotiated with each of our wholesale customers on a year-to-year basis. Customers are either allowed to return defective goods within a specified period of time after shipment (between 6 and 9 months) or granted a “defective allowance” consisting of a fixed percentage (between 1% and 5%) off of invoice price in lieu of returning defective products. The Company records liabilities for its return goods programs and defective goods allowance program at the time of sale for the estimated costs that may be incurred. The liability for defective goods is included in warranty provisions on the condensed consolidated balance sheets.

Changes in the Company’s obligations for return and allowance programs are presented in the following table:

Three Months Ended

June 30,

June 30,

2015

2014

Estimated return and allowance liabilities at beginning of period

$

197,873

$

235,172

Costs accrued for new estimated returns and allowances

87,235

54,002

Return and allowance obligations honored

(132,034)

(132,350)

Estimated return and allowance liabilities at end of period

$

153,074

$

156,824

X

- References
No definition available.
+ Details

Name: us-gaap_ProductWarrantiesDisclosuresAbstract

Namespace Prefix: us-gaap_

Data Type: xbrli:stringItemType

Balance Type: na

Period Type: duration

X

- Definition
The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=51674963&loc=d3e12565-110249

+ Details

Name: us-gaap_ProductWarrantyDisclosureTextBlock

Namespace Prefix: us-gaap_

Data Type: nonnum:textBlockItemType

Balance Type: na

Period Type: duration

WARRANTY PROVISIONS (Details Textual)	3 Months Ended
WARRANTY PROVISIONS (Details Textual)	Jun. 30, 2015
Warranty Provisions [Line Items]
Standard Product Warranty Description	Customers are either allowed to return defective goods within a specified period of time after shipment (between 6 and 9 months) or granted a defective allowance consisting of a fixed percentage (between 1% and 5%) off of invoice price in lieu of returning defective products.

PROPERTY AND EQUIPMENT (Details Textual) - USD ($)	3 Months Ended
PROPERTY AND EQUIPMENT (Details Textual) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Depreciation	$ 37,333	$ 29,331

GEOGRAPHICAL INFORMATION (Details) - USD ($)	3 Months Ended
GEOGRAPHICAL INFORMATION (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Geographical Information [Line Items]
Net Sales	$ 3,466,874	$ 2,544,959
North America [Member]
Geographical Information [Line Items]
Net Sales	3,073,577	2,290,253
Europe [Member]
Geographical Information [Line Items]
Net Sales	237,507	254,706
South Africa [Member]
Geographical Information [Line Items]
Net Sales	$ 155,790	$ 0

CUSTOMER DEPOSITS (Details Textual) - USD ($)	3 Months Ended
CUSTOMER DEPOSITS (Details Textual) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Customer Deposits [Line Items]
Credit Terms of Foreign Customers Direct Import	50% of invoice price prior to shipment with the remaining 50% of invoice price due at time of shipment
Customer Deposits, Current	$ 287,110	$ 0

EMPLOYEE BENEFIT PLANS (Details Textual) - USD ($)	3 Months Ended
EMPLOYEE BENEFIT PLANS (Details Textual) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Administrative Expenses	$ 9,258	$ 6,720

RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	3 Months Ended
RELATED PARTY TRANSACTIONS (Details Textual) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Related Party Transaction, Other Revenues from Transactions with Related Party	$ 64,903	$ 316,594
Related Party Gross Margin Percentage (in percentage)	14.70%	16.60%
Warehouse space Square Foot Value	$ 0.096
Starlight Consumer Electronics USA, Inc [Member]
Related Party Transaction [Line Items]
Related Party Purchases From Related Party Transaction One	165,893	$ 1,598,200
Starlight Rd, Ltd [Member]
Related Party Transaction [Line Items]
Related Party Purchases From Related Party Transaction One	32,857	24,769
Cosmo Communications Usa, Inc [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Revenues from Transactions with Related Party	113,962	101,161
SEC, Cosmo USA and Starlight Electronics USA [Member]
Related Party Transaction [Line Items]
Proceeds from Fees Received	19,885	0
Starlight USA, Cosmo And SEC [Member]
Related Party Transaction [Line Items]
Reimbursement Revenue	$ 0	$ 43,285
Warehouse Space Per Pallet	$ 8
Starlight USA, Cosmo And SEC [Member] \| Subsequent Event [Member]
Related Party Transaction [Line Items]
Reimbursement Revenue	$ 100,000

DUE FROM PNC BANK (Details Textual) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
PNC Bank [Member]
Due From PNC Bank [Line Items]
Due from Affiliate, Current	$ 0	$ 137,415

INVENTORIES, NET (Details) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Inventory [Line Items]
Finished Goods	$ 7,893,750	$ 7,869,167
Inventory in Transit	600,038	0
Inventory Reserve	(383,440)	(421,000)
Inventories, net	$ 8,110,348	$ 7,448,167

PROPERTY AND EQUIPMENT (Details) - USD ($)	3 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,913,358	$ 2,871,201
Accumulated depreciation	2,441,963	2,404,630
Property and equipment, net	471,395	466,571
Computer and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 285,650	285,650
Average useful life (in years)	5 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,312	4,312
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Average useful life (in years)	5 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Average useful life (in years)	7 years
Warehouse Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 224,106	224,106
Average useful life (in years)	7 years
Molds and tooling [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,399,290	$ 2,357,133
Molds and tooling [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Average useful life (in years)	3 years
Molds and tooling [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Average useful life (in years)	7 years

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Current Assets
Cash	$ 363,410	$ 116,286
Accounts receivable, net of allowances of $46,698 and $174,131, respectively	1,673,628	1,466,168
Inventories, net	8,110,348	7,448,167
Prepaid expenses and other current assets	90,695	92,609
Deferred financing costs	74,077	74,077
Deferred tax asset, net	761,599	449,274
Total Current Assets	11,168,009	9,783,996
Property and equipment, net	471,395	466,571
Other non-current assets	11,394	11,394
Deferred financing costs, net of current portion	77,164	95,683
Deferred tax asset, net of current portion	1,856,281	1,856,281
Total Assets	13,584,243	12,213,925
Current Liabilities
Accounts payable	3,025,272	2,767,180
Accrued expenses	617,901	452,651
Revolving line of credit	1,537,014	0
Current portion of capital lease	10,601	12,628
Customer deposits	287,110	0
Obligations to customers for returns and allowances	10,361	399,419
Warranty provisions	153,074	197,873
Total Current Liabilities	7,614,172	5,712,453
Long-term capital lease, net of current portion	0	1,078
Accrued expenses, net of current portion	63,778	46,495
Total Liabilities	10,151,204	8,287,961
Shareholders' Equity
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding	0	0
Additional paid-in capital	19,309,967	19,307,966
Accumulated deficit	(16,258,103)	(15,763,177)
Total Shareholders' Equity	3,433,039	3,925,964
Total Liabilities and Shareholders' Equity	13,584,243	12,213,925
PNC Bank [Member]
Current Assets
Due from Affiliate, Current	0	137,415
Cosmo Communications Canada, Ltd [Member]
Current Assets
Due from related party	77,012	0
Current Liabilities
Due to related party	0	40,256
Starlight Marketing Development, Ltd [Member] \| Subordinated Debt [Member]
Current Liabilities
Due to related party	1,924,431	1,924,431
Ram Light Management, Ltd [Member]
Current Liabilities
Notes Payable, Related Party	551,177	496,496
Due to related party	583,247	583,247
Ram Light Management, Ltd [Member] \| Subordinated Debt [Member]
Current Liabilities
Notes Payable, Related Party	548,823	603,504
Starlight R and D, Ltd [Member]
Current Liabilities
Due to related party	582,072	554,031
Starlight Electronics Company, Ltd [Member]
Current Assets
Due from related party	17,240	0
Starlight Consumer Electronics Co Ltd [Member]
Current Liabilities
Due to related party	256,343	208,672
Common Class A [Member]
Shareholders' Equity
Common stock value	0	0
Common Class B [Member]
Shareholders' Equity
Common stock value	$ 381,175	$ 381,175

WARRANTY PROVISIONS (Details) - USD ($)	3 Months Ended
WARRANTY PROVISIONS (Details) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Warranty Provisions [Line Items]
Estimated return and allowance liabilities at beginning of period	$ 197,873	$ 235,172
Costs accrued for new estimated returns and allowances	87,235	54,002
Return and allowance obligations honored	(132,034)	(132,350)
Estimated return and allowance liabilities at end of period	$ 153,074	$ 156,824

LONG-TERM CAPITAL LEASE (Details) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Total minimum lease payments Within one year	$ 10,820	$ 12,984
After one year but within three years	0	1,078
Minimum Lease Payments, Sale Leaseback Transactions, Total	10,820	14,062
Interest payments relating to future periods	(219)	(356)
Present Value of minimum lease payments	$ 10,601	$ 13,706

LONG-TERM CAPITAL LEASE (Details Textual) - USD ($)		3 Months Ended
LONG-TERM CAPITAL LEASE (Details Textual) - USD ($)	Apr. 13, 2013	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Long Term Capital Lease [Line Items]
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments, Total		$ 10,601		$ 13,706
Interest Expense, Lessee, Assets under Capital Lease		142	$ 277
Wells Fargo Equipment Finance [Member]
Long Term Capital Lease [Line Items]
Capital Lease Obligations Incurred	$ 36,388
Monthly Lease Payments	$ 1,082
Lease term	36 months
Long Term Capital Lease Interest Rate	4.50%
Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments, Total		$ 10,601		$ 13,706

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Allowance for doubtful accounts (in dollars)	$ 46,698	$ 174,131
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000	100,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Common Class B [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	38,117,517	38,117,517
Common stock, shares outstanding	38,117,517	38,117,517

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Jun. 30, 2015	Aug. 14, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Entity Registrant Name	SINGING MACHINE CO INC
Entity Central Index Key	0000923601
Current Fiscal Year End Date	--03-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	SMDM
Entity Common Stock, Shares Outstanding		38,117,517

LINE OF CREDIT (Details Textual) - USD ($)	3 Months Ended
LINE OF CREDIT (Details Textual) - USD ($)	Jun. 30, 2015	Jun. 30, 2014	Mar. 31, 2015
Line of Credit Facility [Line Items]
Line of Credit Facility, Increase, Accrued Interest	$ 0	$ 1,576
Percentage Of Factoring Fees	1.00%
Line Of Credit Commission Expenses	$ 0	14,506
Due to Related Parties	$ 1,100,000		$ 0
Line Of Credit Facility Sub Limits Description	The Revolving Credit Facility includes the following sub-limits: ⋅ Letters of Credit to be issued limited to $3,000,000. Inventory availability limited to $4,000,000. Mandatory pay-down to $1,000,000 (excluding letters of credit) for any 30 consecutive days between February 1 and April 30.
Line of Credit Facility, Description	Usage under the Revolving Credit Facility shall not exceed the sum of the following (the “Borrowing Base”): Up to 85% of the company’s eligible domestic and Canadian accounts receivable aged less than 60 days past due (not to exceed 90 days from invoice date, cross aged on the basis of 50% or more past due with certain specific accounts qualifying for up to 120 days from invoice date not to exceed 30 days from the due date; plus ⋅ Up to the lesser of (a) 50% of the cost of eligible inventory or (b) 75% of net orderly liquidation value percentage of eligible inventory (annual inventory appraisals required); minus An all-time $500,000 block; minus Applicable reserves including a dilution reserve equal to 125% of the Company’s advertising and return accrual reserves. Dilution reserve not to exceed availability generated from eligible accounts receivable.
Line of Credit Facility, Interest Rate Description	Interest on the line of credit and discounting charges on accounts receivable advances was accrued at a rate of 2% per annum over the prime rate as published by the Wall Street Journal and at no time was the effective rate be less than 5.25% per annum.
Interest Expense, Borrowings	$ 9,665	0
Amortization of Financing Costs	$ 18,519	0
Unused lines of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.375%
Line of Credit Facility, Commitment Fee Amount	$ 6,142	0
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate During Period	2.00%
Line of Credit Facility, Covenant Terms	The Revolving Credit Facility must comply with the following quarterly financial covenants to avoid default: Fixed charge coverage ratio test of 1.1:1 times measured on a rolling four quarter basis, defined as EBITDA less non-financed capital expenditures, cash dividends and distributions paid and cash taxes paid divided by the sum of interest and principal on all indebtedness. Capital expenditures limited to $150,000 per year.
Debt Instrument, Maturity Date	Jul. 14, 2017
Debt Instrument, Term	360 days
Line Of Credit Facility Default Rate	2.00%
Debt Instrument, Basis Spread on Variable Rate	3.50%
First Priority Security Ownership Interest Percentage	100.00%
First Priority Lien Percentage	65.00%
Ram Light Management, Ltd [Member]
Line of Credit Facility [Line Items]
Due to Related Parties	$ 1,683,247
Debt Instrument, Payment Terms	The Ram Light Note bears interest at 6% per annum with quarterly payments of $150,000 (including principal and interest) payable beginning December 31, 2014. Scheduled principal and interest payment of $150,000 will only be permitted upon receipt of the Company’s current quarterly compliance certificate; the Company having met the mandatory pay-down of the Revolving Credit Facility to $1,000,000 and average excess availability for the prior 30 days (after subtraction of third party trade payables 30 days or more past due) of no less than $1,000,000 after giving effect to the payment.
Conversion Of Related Party Debt	$ 1,100,000
Starlight Marketing Development, Ltd [Member]
Line of Credit Facility [Line Items]
Due to Related Parties	816,753
Starlight Marketing Development, Ltd [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Collateral Amount	2,500,000
Debt Instrument, Collateral Fee	222,000
Related Party [Member]
Line of Credit Facility [Line Items]
Due to Related Parties	2,500,000
Ram Light Note [Member]
Line of Credit Facility [Line Items]
Interest Expense, Related Party	17,283	$ 0
Peak Selling Season Between August 1 And December 31 [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period	15,000,000
Peak Selling Season Between January 1 And July 31 [Member] \| Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period	$ 7,500,000

SHAREHOLDERS' EQUITY (Details Textual)	Jun. 30, 2015 shares
Shareholders' Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	760,000
Stock Option Plan 2001 [Member]
Shareholders' Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance	1,102,000

OBLIGATIONS TO CUSTOMERS FOR RETURNS AND ALLOWANCES (Details Textual) - USD ($)	Jun. 30, 2015	Mar. 31, 2015
Obligations To Clients For Returns And Allowances [Line Items]
Customer Refund Liability, Current	$ 10,361	$ 399,419