INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The income tax provision (benefit) for federal, foreign, and state income taxes in the consolidated statements of income consisted of the following components for 2016, 2015 and 2014: 

	2016		2015		2014
Income tax provision:
Current:
Federal	$	-	$	-	$	-
State		-		-		-
Total current Federal and State	$	-	$	-	$	-
Deferred:
Federal	$	(89,718)	$	80,836	$	(675,447)
State		(11,658)		11,865		(103,350)
Total income tax (benefit) provision	$	(101,376)	$	92,701	$	(778,797)

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

The United States and foreign components of income (loss) before income taxes are as follows:

	2016		2015		2014
United States	$	1,406,301	$	161,255	$	(62,095)
Foreign		195,713		101,604		287,614
	$	1,602,014	$	262,859	$	225,519

Schedule Of Difference Between Actual Tax Expenses And Expected Tax Expenses [Table Text Block]

The actual tax (benefit) provision differs from the "expected" tax expense for the years ended March 31, 2016, 2015 and 2014 (computed by applying the U.S. Federal Corporate tax rate of 34 percent to income before taxes) as follows: 

	2016		2015		2014
Expected tax expense	$	544,684	$	89,372	$	76,676
State income taxes, net of Federal income tax benefit		19,420		(97)		7,815
Permanent differences		11,176		7,507		8,374
Deemed Dividend		80,207		37,563		108,864
Change in valuation allowance		(708,385)		(91,034)		(820,040)
Tax rate differential on foreign earnings		(75,007)		(39,272)		(111,164)
Other		26,529		88,662		(49,322)
Actual tax (benefit) provision	$	(101,376)	$	92,701	$	(778,797)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities are as follows: 

	2016		2015		2014
Deferred tax assets:
Federal net operating loss carryforward	$	1,481,531	$	2,041,207	$	2,076,141
State net operating loss carryforward		277,673		318,830		413,401
AMT credit carryforward		52,004		52,004		36,808
Inventory differences		443,749		431,744		490,716
Allowance for doubtful accounts		19,614		67,305		66,658
Reserve for sales returns		112,100		76,482		90,895
Stock option compensation expense		80,489		74,716		59,713
Stock warrants		38,863		39,194		39,193
Accrued Vacation		11,212		9,183		10,241
Total deferred tax assets		2,517,235		3,110,665		3,283,766
Deferred tax liability:
Depreciation		(108,704)		(96,725)		(86,091)
Net deferred tax assets before valuation allowance		2,408,531		3,013,940		3,197,675
Valuation allowance		-		(708,385)		(799,419)
Net deferred tax assets	$	2,408,531	$	2,305,555	$	2,398,256