Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v2.3.0.15
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Sep. 30, 2011
Sep. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,960,236 $ 490,870
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation expense 86,714 39,464
Bad debt expense 0 4,840
Stock options issued for services 40,263 20,112
Changes in operating assets and liabilities:    
Accounts receivable (2,233,953) (795,294)
Inventories (130,794) (144,965)
Prepaid expenses 0 (4,365)
Income taxes payable 330,989 (218,816)
Accounts payable and accrued liabilities 209,961 156,519
Net Cash Provided by Operating Activities 263,416 (451,635)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of fixed assets (1,000,053) (147,385)
Net Cash Used in Investing Activities (1,000,053) (147,385)
CASH FLOWS FROM FINANCING ACTIVITIES 0 0
Effect of exchange rate changes on cash (205,479) (20,730)
NET INCREASE (DECREASE) IN CASH (942,116) (619,750)
CASH AT BEGINNING OF PERIOD 1,689,386 1,931,757
CASH AT END OF PERIOD 747,270 1,312,007
CASH PAID FOR:    
Interest 8,796 10,762
Income taxes $ 405,537 $ 505,080