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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Mar. 31, 2022
Current Assets:    
Cash and cash equivalents $ 20,901,109 $ 23,281,475
Accounts receivable, net 38,997,537 43,955,084
Due from related parties 1,559,000 15,000
Inventories 64,588,248 59,016,152
Prepaid expenses 4,576,824 3,423,925
Current portion of restricted cash 500,000
Total Current Assets 131,122,718 129,691,636
Equipment, net 46,669,664 37,637,806
Other Assets:    
Deposits 11,829,304 11,360,322
Restricted cash, net of current portion 500,000
Patents, net 5,402,852 5,526,218
Other intangible assets, net 133,156,993 136,300,387
Goodwill 90,870,094 [1] 90,870,094
Right of use assets – operating leases 2,583,344 2,791,850
TOTAL ASSETS 422,134,969 414,178,313
Current Liabilities:    
Accounts payable 23,807,732 26,817,083
Factoring liability 228,026 485,671
Accrued liabilities 7,012,674 6,178,814
Inventory credit facility 92,332 825,675
Current portion of operating lease liability 811,139 831,429
Current portion of note payable related party 700,507 684,639
Current portion of construction note  200,133  
Insurance premium note payable 1,501,846
Total Current Liabilities 34,354,389 35,823,311
Long-term Liabilities:    
Contingent consideration payable 202,840 204,142
Notes payable related party, net of current portion 181,132
Construction note payable, net of unamortized issuance costs 5,634,368 38,330
Operating lease liability, net of current portion 1,900,559 2,091,351
Deferred income tax liability 2,037,445 1,536,481
Total Liabilities 44,129,601 39,874,747
Shareholders’ Equity:    
Series A cumulative perpetual preferred Stock 8.75%, ($25.00 per share, $0.001 par value) 1,400,000 shares issued and outstanding as of June 30, 2022 and March 31, 2022, respectively 1,400 1,400
Common stock, $0.001 par value, 200,000,000 shares authorized 116,923,884 and 116,485,747 shares issued and outstanding at June 30, 2022 and March 31, 2022, respectively 116,924 116,487
Additional paid-in capital 386,648,901 385,426,431
Accumulated deficit (8,761,857) (11,240,752)
Total Shareholders’ Equity 378,005,368 374,303,566
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 422,134,969 $ 414,178,313
[1] Other intangible assets consist of Tradenames, Customer Relationships, Intellectual Property, and other tangible assets related to the acquired business.