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Note 10. Concentration of Risk
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12 Months Ended |
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Mar. 31, 2012
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| Concentration Risk Disclosure [Text Block] |
10.
CONCENTRATION
OF RISK
Concentrations
of customers in the terminalling industry may impact our
overall exposure to credit risk, in that these customers may
be similarly affected by changes in economic or other
conditions. We market and sell our services to a broad base
of customers and perform ongoing credit evaluations of our
customers.
As
of March 31, 2012, the Company maintained its cash balances
at one financial institution. Balances are insured
by the Federal Deposit Insurance Corporation (the
“FDIC”) up to $250,000 per
institution. Occasionally, our cash deposits may
exceed the FDIC insurable limit.
As
of May 2012, one customer accounted for approximately 21% of
total monthly storage revenue. In addition, for
the year ended March 31, 2012, approximately 80% of our
revenues were derived from five major
customers. Our largest customer accounted for
approximately 24% of our total 2012 revenues. Each
of the other four customers accounted for 8% or more of our
2012 revenues.
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