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EXCEL - IDEA: XBRL DOCUMENT - SINGING MACHINE CO INCFinancial_Report.xls
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EX-32.1 - EXHIBIT 32.1 - SINGING MACHINE CO INCv315960_ex32-1.htm
EX-32.2 - EXHIBIT 32.2 - SINGING MACHINE CO INCv315960_ex32-2.htm
EX-31.2 - EXHIBIT 31.2 - SINGING MACHINE CO INCv315960_ex31-2.htm
EX-31.1 - EXHIBIT 31.1 - SINGING MACHINE CO INCv315960_ex31-1.htm
10-K - FORM 10-K - SINGING MACHINE CO INCv315960_10k.htm
v2.4.0.6
FINANCING
12 Months Ended
Mar. 31, 2012
Receivables [Abstract]  
Financing Receivables [Text Block]

NOTE 7 – FINANCING

 

In light of the Company’s lack of financing facilities, our parent company, the Starlight Group (“Group”), has expressed their willingness and ability to provide financing to us for key vendor payments by extending longer payment terms for goods they manufacture for us. We do not believe we will required any bridge financing from the Group for the fiscal year ending March 31, 2013, however we will continue to take advantage of extended terms for trade payables with the Group throughout the year. During the fiscal year ended March 31, 2012, our related party debt decreased by approximately $348,000. Taking into account internally generated funds and credit facilities available to the Group, 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.