Profire Energy (PFIE) 10-Q 14 Nov 13 2013 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2013
Document And Entity Information	'
Entity Registrant Name	'PROFIRE ENERGY INC
Entity Central Index Key	'0001289636
Document Type	'10-Q
Document Period End Date	30-Sep-13
Amendment Flag	'false
Current Fiscal Year End Date	'--03-31
Is Entity a Well-known Seasoned Issuer?	'No
Is Entity a Voluntary Filer?	'No
Is Entity's Reporting Status Current?	'Yes
Entity Filer Category	'Smaller Reporting Company
Entity Common Stock, Shares Outstanding	0
Document Fiscal Period Focus	'Q2
Document Fiscal Year Focus	'2013

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Mar. 31, 2013
ASSETS	'	'
Cash and cash equivalents	$602,255	$808,772
Accounts receivable, net	8,618,943	5,879,165
Inventories	6,169,080	3,463,614
Prepaid expenses	62,343	1,967
Total Current Assets	15,452,621	10,153,518
PROPERTY AND EQUIPMENT, net	2,404,442	2,232,355
TOTAL ASSETS	17,857,063	12,385,873
LIABILITIES AND STOCKHOLDERS' EQUITY	'	'
Accounts payable	2,405,817	1,499,330
Accrued liabilities	164,837	189,489
Deferred income tax liability	134,107	72,857
Income taxes payable	969,053	161,550
Total Current Liabilities	3,673,814	1,923,226
TOTAL LIABILITIES	3,673,814	1,923,226
STOCKHOLDERS' EQUITY	'	'
Preferred shares: $0.001 par value, 10,000,000 shares authorized: no shares issued and outstanding	0	0
Common shares: $0.001 par value, 100,000,000 shares authorized: 45,390,000 and 45,250,000 shares issued and outstanding, respectively	45,390	45,250
Additional paid-in capital	842,888	585,735
Accumulated other comprehensive income	171,242	371,466
Retained earnings	13,123,729	9,460,196
Total Stockholders' Equity	14,183,249	10,462,647
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$17,857,063	$12,385,873

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
STOCKHOLDERS' EQUITY	'	'
Preferred stock, par value	$0.00	$0.00
Preferred stock, authorized shares	10,000,000	10,000,000
Preferred stock, issued shares	0	0
Preferred stock, outstanding shares	0	0
Common stock, par value	$0.00	$0.00
Common stock, authorized shares	100,000,000	100,000,000
Common stock, issued shares	45,390,000	45,250,000
Common stock, outstanding shares	45,390,000	45,250,000

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations and Other Comprhensive Income (Loss) (Unaudited) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
REVENUES	'	'	'	'
Sales of goods, net	$8,940,062	$4,096,452	$15,779,023	$7,547,959
Sales of services, net	402,394	283,141	745,013	508,907
Total Revenues	9,342,456	4,379,593	16,524,036	8,056,866
COST OF SALES	'	'	'	'
Cost of goods sold-products	3,550,640	1,950,355	6,275,120	3,278,071
Cost of goods sold - services	232,250	211,312	500,447	384,032
Total Cost of Goods Sold	3,782,890	2,161,667	6,775,567	3,662,103
GROSS PROFIT	5,559,566	2,217,926	9,748,469	4,394,763
OPERATING EXPENSES	'	'	'	'
General and administrative expenses	1,259,192	863,271	2,098,315	1,857,151
Research and development	155,089	70,454	251,019	110,234
Payroll expenses	930,993	298,802	1,766,069	640,655
Depreciation expense	65,597	64,468	126,925	110,926
Total Operating Expenses	2,410,871	1,296,995	4,242,328	2,718,966
INCOME FROM OPERATIONS	3,148,695	920,931	5,506,141	1,675,797
OTHER INCOME (EXPENSE)	'	'	'	'
Interest expense	-100	-7,426	-10,567	-8,678
Gain on disposal of fixed assets	1,617	'	1,617	'
Rental income	1,575	'	2,190	'
Interest income	7,565	8,246	8,366	8,315
Total Other Income (Expense)	10,657	820	1,606	-363
NET INCOME BEFORE INCOME TAXES	3,159,352	921,751	5,507,747	1,675,434
INCOME TAX EXPENSE	1,109,803	276,621	1,844,214	464,569
NET INCOME	2,049,549	645,130	3,663,533	1,210,865
FOREIGN CURRENCY TRANSLATION GAIN (LOSS)	-90,191	382,438	-200,224	219,618
TOTAL COMPREHENSIVE INCOME	$1,959,358	$1,027,568	$3,463,309	$1,430,483
BASIC EARNINGS PER SHARE	$0.05	$0.01	$0.08	$0.03
FULLY DILUTED EARNINGS PER SHARE	$0.04	$0.01	$0.08	$0.03
BASIC WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	45,289,301	45,078,587	45,274,863	45,054,918
FULLY DILUTED WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	45,905,364	45,460,439	45,905,364	45,436,770

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
OPERATING ACTIVITIES	'	'
Net Income	$3,663,533	$1,210,865
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation expense	168,020	110,245
Gain on the disposal of fixed assets	-1,617	'
Common stock issued for services	28,350	208,750
Bad debt expense	'	9,958
Stock options issued for services	180,944	86,904
Changes in operating assets and liabilities:	'	'
Changes in accounts receivable	-2,776,585	449,996
Changes in inventories	-2,723,568	-1,451,619
Changes in prepaid expenses	-60,376	-13,143
Changes in accounts payable and accrued liabilities	897,043	-204,025
Changes in income taxes payable	870,119	-179,045
Net Cash Provided by Operating Activities	245,863	228,886
INVESTING ACTIVITIES	'	'
Proceeds from disposal of equipment	33,910	'
Purchase of fixed assets	-389,365	-258,233
Net Cash Used in Investing Activities	-355,455	-258,233
FINANCING ACTIVITIES	'	'
Stock issued in exercise of stock options	48,000	'
Net Cash Used in Financing Activities	48,000	'
Effect of exchange rate changes on cash	-144,925	762,078
NET INCREASE IN CASH	-206,517	732,731
CASH AT BEGINNING OF PERIOD	808,772	1,914,877
CASH AT END OF PERIOD	602,255	2,647,608
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION	'	'
Interest	100	8,678
Income taxes	$302,300	$685,915

1_CONDENSED_FINANCIAL_STATEMEN

1. CONDENSED FINANCIAL STATEMENTS	6 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
CONDENSED FINANCIAL STATEMENTS	'
	The accompanying financial statements have been prepared by the Company without audit.  In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at September 30, 2013 and for all periods presented have been made.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company's March 31, 2013 audited financial statements.  The results of operations for the periods ended September 30, 2013 and 2012 are not necessarily indicative of the operating results for the full years.

2_SIGNIFICANT_ACCOUNTING_POLIC

2. SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
SIGNIFICANT ACCOUNTING POLICIES	'
	Reclassification
	Certain balances in previously issued financial statements have been reclassified to be consistent with the current period presentation.
	Use of Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Cash and Cash Equivalents
	For purposes of the statement of cash flows, cash and cash equivalents include cash and all debt securities with an original maturity of 90 days or less. As of September 30, 2013 and March 31, 2013, bank balances included $602,255 and $808,772, respectively, held by the Company’s banks guaranteed by the Province of Alberta, Canada and the FDIC.
	Accounts Receivable
	Receivables from the sale of goods and services are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts.  The allowance is calculated based on past collectability and customer relationships.  The Company recorded an allowance for doubtful accounts of $126,554 and $133,974 as of September 30, 2013 and March 31, 2013, respectively.
	Inventory
	In accordance with ASC 330, the Company’s inventory is valued at the lower of cost (the purchase price, including additional fees) or market based on using the entire value of inventory.  Inventories are determined based on the average cost basis.  As of September 30, 2013 and March 31, 2013 inventory consisted of the following:
		September 30,		March 31,
		2013		2013
	Raw materials	$	-	$	-
	Finished goods		6,256,988		3,553,140
	Work in process		-		-
	Subtotal		6,256,988		3,553,140
	Reserve for obsolescence		(87,908)		(89,526)
	Total	$	6,169,080		3,463,614
	Revenue Recognition
	The Company records sales when a firm sales agreement is in place, delivery has occurred or services have been rendered, and collectability of the fixed or determinable sales price is reasonably assured.  If customer acceptance of products is not assured, the Company records sales only upon formal customer acceptance.
	Income Taxes
	The Company is subject to US and Canadian income taxes, respectively, on its US and Canadian income with a credit provided for foreign taxes paid.   The combined effective rates of income tax expense (benefit) in the US and Canada are, respectively, 35% and 28% for the six months ended September 30, 2013 and 2012, respectively.
	Basic and Diluted Earnings Per Share
	The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 630,500 and 530,000 stock options included in the fully diluted earnings per share as of September 30, 2013 and 2012, respectively.  The Company uses the treasury stock method to calculate the dilutive effects of stock options and warrants.
		For the Six Months Ended
		September 30,
		2013		2012
	Net income applicable to common shareholders	S	3,663,533	S	1,210,865
	Weighted average shares outstanding		45,289,301		45,054,918
	Weighted average fully diluted shares outstanding		45,905,364		45,436,770
	Basic earnings per share	S	0.08	S	0.03
	Fully diluted earnings per share	S	0.08	S	0.03
	Foreign Currency and Comprehensive Income
	The Company’s functional currencies are the United States dollar (USD) and the Canadian dollar (CAD), the reporting currency is USD.  All transactions initiated in other currencies are translated into the reporting currency in accordance with ASC830-20, “Foreign Currency Matters – Foreign Currency Transactions”. The period-end exchange rates of 0.97232 and 0.982898 were used to convert the Company’s September 30, 2013 and March 31, 2012 balance sheets, respectively, and the statements of operations used weighted average rates of 0.970557 and 1.02760 for the six months ended September 30, 2013 and 2012, respectively. All amounts in the financial statements and footnotes are presumed to be stated in USD, unless otherwise identified. Foreign currency translation gains or losses as a result of fluctuations in the exchange rates are reflected in the Statement of Operations and Other Comprehensive Income.
	Recent Accounting Pronouncements
	The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position, or statements.
	Stock-Based Compensation
	The Company follows the provisions of ASC 718, “Share-Based Payment.” which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values.  The Company uses the Black-Scholes pricing model for determining the fair value of stock based compensation.

3_FAIR_VALUE_MEASUREMENT

3. FAIR VALUE MEASUREMENT	6 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE MEASUREMENT	'
	The Company measures its cash equivalents and marketable securities at fair value. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value:
	Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
	Level 2 - Include inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant inputs are observable in the market or can be derived from observable market data. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including interest rate curves, foreign exchange rates, and credit ratings.
	Level 3 - Unobservable inputs that are supported by little or no market activities.
	The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
	The Company classifies its cash equivalents and marketable securities within Level 1. This is because it values its cash equivalents and marketable securities using quoted market prices.
	Assets and liabilities measured at fair value on a recurring basis are summarized below:
		Fair Value Measurement at Reporting Date Using
	Description	As of September 30, 2013		Quoted Prices in Active Markets for Identical Assets		Significant Other		Significant
				(Level 1)		Observable Inputs		Unobservable Inputs
						(Level 2)		(Level 3)
	Assets
	Cash Equivalents	$	602,255	$	602,255	$	-	$	-

4_SEGMENT_INFORMATION

4. SEGMENT INFORMATION	6 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	The Company operates in the United States and Canada. Segment information for these geographic areas is as follows:
		For the Six Months Ended
		September 30,
	Sales	2013		2012
	Canada	$	3,881,989	$	6,140,601
	United States		12,642,047		1,916,265
	Total	$	16,524,036	$	8,056,866
	Long-lived assets	September 30,		March 31,
		2013		2012
	Canada	$	1,490,389	$	1,583,613
	United States		914,053		648,742
	Total	$	2,404,442	$	2,232,355

5_SUBSEQUENT_EVENTS

5. SUBSEQUENT EVENTS	6 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	On November 12, 2013, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain institutional investors.  Pursuant to the terms of the Purchase Agreement, the Company sold to the purchasers an aggregate of approximately $4,700,000 worth of common stock of the Company at a price per share of $2.18.  The closing of the purchase is expected to occur on or before November 15, 2013, and is subject to customary closing conditions.
	Pursuant to the Purchase Agreement, the Company agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares.  The proceeds are expected to be used for general working capital purposes and to otherwise finance the growth of the Company.
	Subsequent to quarter-end, an employee exercised previously issued options for 100,000 shares.

2_SIGNIFICANT_ACCOUNTING_POLIC1

2. SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Reclassification	'
	Certain balances in previously issued financial statements have been reclassified to be consistent with the current period presentation.
Use of Estimates	'
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	'
	For purposes of the statement of cash flows, cash and cash equivalents include cash and all debt securities with an original maturity of 90 days or less. As of September 30, 2013 and March 31, 2013, bank balances included $602,255 and $808,772, respectively, held by the Company’s banks guaranteed by the Province of Alberta, Canada and the FDIC.
Accounts Receivable	'
	Receivables from the sale of goods and services are stated at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts.  The allowance is calculated based on past collectability and customer relationships.  The Company recorded an allowance for doubtful accounts of $126,554 and $133,974 as of September 30, 2013 and March 31, 2013, respectively.
Inventory	'
	In accordance with ASC 330, the Company’s inventory is valued at the lower of cost (the purchase price, including additional fees) or market based on using the entire value of inventory.  Inventories are determined based on the average cost basis.  As of September 30, 2013 and March 31, 2013 inventory consisted of the following:
		September 30,		March 31,
		2013		2013
	Raw materials	$	-	$	-
	Finished goods		6,256,988		3,553,140
	Work in process		-		-
	Subtotal		6,256,988		3,553,140
	Reserve for obsolescence		(87,908)		(89,526)
	Total	$	6,169,080		3,463,614
Revenue Recognition	'
	The Company records sales when a firm sales agreement is in place, delivery has occurred or services have been rendered, and collectability of the fixed or determinable sales price is reasonably assured.  If customer acceptance of products is not assured, the Company records sales only upon formal customer acceptance.
Income Taxes	'
	The Company is subject to US and Canadian income taxes, respectively, on its US and Canadian income with a credit provided for foreign taxes paid.   The combined effective rates of income tax expense (benefit) in the US and Canada are, respectively, 35% and 28% for the six months ended September 30, 2013 and 2012, respectively.
Basic and Diluted Earnings Per Share	'
	The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had 630,500 and 530,000 stock options included in the fully diluted earnings per share as of September 30, 2013 and 2012, respectively.  The Company uses the treasury stock method to calculate the dilutive effects of stock options and warrants.
		For the Six Months Ended
		September 30,
		2013		2012
	Net income applicable to common shareholders	S	3,663,533	S	1,210,865
	Weighted average shares outstanding		45,289,301		45,054,918
	Weighted average fully diluted shares outstanding		45,905,364		45,436,770
	Basic earnings per share	S	0.08	S	0.03
	Fully diluted earnings per share	S	0.08	S	0.03
Foreign Currency and Comprehensive Income	'
	The Company’s functional currencies are the United States dollar (USD) and the Canadian dollar (CAD), the reporting currency is USD.  All transactions initiated in other currencies are translated into the reporting currency in accordance with ASC830-20, “Foreign Currency Matters – Foreign Currency Transactions”. The period-end exchange rates of 0.97232 and 0.982898 were used to convert the Company’s September 30, 2013 and March 31, 2012 balance sheets, respectively, and the statements of operations used weighted average rates of 0.970557 and 1.02760 for the six months ended September 30, 2013 and 2012, respectively. All amounts in the financial statements and footnotes are presumed to be stated in USD, unless otherwise identified. Foreign currency translation gains or losses as a result of fluctuations in the exchange rates are reflected in the Statement of Operations and Other Comprehensive Income.
Recent Accounting Pronouncements	'
	The Company has evaluated recent accounting pronouncements and their adoption has not had or is not expected to have a material impact on the Company’s financial position, or statements.
Stock-Based Compensation	'
	The Company follows the provisions of ASC 718, “Share-Based Payment.” which requires all share-based payments to employees, including grants of employee stock options, to be recognized in the income statement based on their fair values.  The Company uses the Black-Scholes pricing model for determining the fair value of stock based compensation.

2_SIGNIFICANT_ACCOUNTING_POLIC2

2. SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Inventory	'
		September 30,		March 31,
		2013		2013
	Raw materials	$	-	$	-
	Finished goods		6,256,988		3,553,140
	Work in process		-		-
	Subtotal		6,256,988		3,553,140
	Reserve for obsolescence		(87,908)		(89,526)
	Total	$	6,169,080		3,463,614
Basic Earnings Per Share	'
		For the Six Months Ended
		September 30,
		2013		2012
	Net income applicable to common shareholders	S	3,663,533	S	1,210,865
	Weighted average shares outstanding		45,289,301		45,054,918
	Weighted average fully diluted shares outstanding		45,905,364		45,436,770
	Basic earnings per share	S	0.08	S	0.03
	Fully diluted earnings per share	S	0.08	S	0.03

3_FAIR_VALUE_MEASUREMENT_Table

3. FAIR VALUE MEASUREMENT (Tables)	6 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Assets and liabilities measured at fair value on a recurring basis	'
		Fair Value Measurement at Reporting Date Using
	Description	As of September 30, 2013		Quoted Prices in Active Markets for Identical Assets		Significant Other		Significant
				(Level 1)		Observable Inputs		Unobservable Inputs
						(Level 2)		(Level 3)
	Assets
	Cash Equivalents	$	602,255	$	602,255	$	-	$	-

4_SEGMENT_INFORMATION_Tables

4. SEGMENT INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Segment information	'
		For the Six Months Ended
		September 30,
	Sales	2013		2012
	Canada	$	3,881,989	$	6,140,601
	United States		12,642,047		1,916,265
	Total	$	16,524,036	$	8,056,866
	Long-lived assets	September 30,		March 31,
		2013		2012
	Canada	$	1,490,389	$	1,583,613
	United States		914,053		648,742
	Total	$	2,404,442	$	2,232,355

2_SIGNIFICANT_ACCOUNTING_POLIC3

2. SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
Accounting Policies [Abstract]	'	'
Raw materials	$0	$0
Finished goods	6,256,988	3,553,140
Work in progress	0	0
Reserve for obsolescence	-87,908	-89,526
Total	$6,169,080	$3,463,614

2_SIGNIFICANT_ACCOUNTING_POLIC4

2. SIGNIFICANT ACCOUNTING POLICIES (Details 1) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accounting Policies [Abstract]	'	'	'	'
Net income applicable to common shareholders	$2,049,549	$645,130	$3,663,533	$1,210,865
Weighted average shares outstanding	45,289,301	45,078,587	45,274,863	45,054,918
Weighted average fully diluted shares outstanding	45,905,364	45,460,439	45,905,364	45,436,770
Basic earnings per share	$0.05	$0.01	$0.08	$0.03
Fully diluted earnings per share	$0.04	$0.01	$0.08	$0.03

2_SIGNIFICANT_ACCOUNTING_POLIC5

2. SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013	Mar. 31, 2012
Accounting Policies [Abstract]	'	'	'	'
Bank balances	$602,255	$2,647,608	$808,772	$1,914,877
Allowance for doubtful accounts	$126,554	'	$133,974	'
Effective rates of income tax expense (benefit)	35.00%	28.00%	'	'
Stock options included in the fully diluted earnings per share	630,500	530,000	'	'
Period-end exchange rates	'0.97232	'	'0.982898	'
Weighted average exchange rate	'0.970557	'1.02760	'	'

3_FAIR_VALUE_MEASUREMENT_Detai

3. FAIR VALUE MEASUREMENT (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013	Sep. 30, 2012	Mar. 31, 2012
Assets	'	'	'	'
Cash Equivalents	$602,255	$808,772	$2,647,608	$1,914,877
Marketable Securites	'	'	'	'
Quoted Prices in Active Markets for Identical Assets (Level 1)	'	'	'	'
Assets	'	'	'	'
Cash Equivalents	602,255	'	'	'
Marketable Securites	'	'	'	'
Significant Other Observable Inputs (Level 2)	'	'	'	'
Assets	'	'	'	'
Cash Equivalents	'	'	'	'
Marketable Securites	'	'	'	'
Significant Unobservable Inputs (Level 3)	'	'	'	'
Assets	'	'	'	'
Cash Equivalents	'	'	'	'
Marketable Securites	'	'	'	'

4_SEGMENT_INFORMATION_Details

4. SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Sales	'	'	'	'
Canada	'	'	$3,881,989	$6,140,601
United States	'	'	12,642,047	1,916,265
Total	$9,342,456	$4,379,593	$16,524,036	$8,056,866

4_SEGMENT_INFORMATION_Details_

4. SEGMENT INFORMATION (Details 2) (USD $)	Sep. 30, 2013	Mar. 31, 2012
Long-Lived Assets	'	'
Canada	$1,490,389	$1,583,613
United States	914,053	648,742
Total	$2,404,442	$2,232,355