Universal Security Instruments, Inc. designs and markets a variety of safety products consisting primarily of smoke alarms, carbon monoxide alarms and related products. Most of the Company’s products require minimal installation and are designed for installation by the consumer without professional assistance, and are sold through retail stores. It also markets products to the electrical distribution trade through its wholly owned subsidiary, USI Electric, Inc. (USI Electric). The electrical distribution trade includes electrical and lighting distributors, as well as manufactured housing companies. Products sold by USI Electric require professional installation. As of March 31, 2009, the Company owned a 50% interest in the Hong Kong Joint Venture. Universal Security Instruments, Inc. imports all of its products from various foreign suppliers. During the fiscal year ended March 31, 2009 (fiscal 2009), approximately 97.3% of its purchases were imported from the Hong Kong Joint Venture.