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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Mar. 31, 2023
Current Assets:    
Cash and cash equivalents $ 54,679,868 $ 39,134,027
Accounts receivable, net 21,121,450 29,346,380
Inventories 49,502,732 54,344,819
Prepaid expenses 3,708,865 5,126,667
Current portion of restricted cash 500,000
Total Current Assets 129,012,915 128,451,893
Equipment, net 57,278,603 55,963,255
Other Assets:    
Deposits 2,265,932 7,028,947
Patents, net 4,662,656 5,032,754
Other intangible assets, net 114,296,627 123,726,810
Goodwill 90,870,094 90,870,094
Right of use assets - operating leases 2,113,943 1,261,634
Deferred income tax asset 115,908
TOTAL ASSETS 400,616,678 412,335,387
Current Liabilities:    
Accounts payable 19,146,138 18,079,397
Accrued liabilities 6,570,668 4,353,354
Current portion of operating lease liability 463,059 470,734
Note payable related party 180,850
Current portion of construction note payable 265,977 260,429
Insurance premium note payable 173,029 2,118,635
Total Current Liabilities 26,618,871 25,463,399
Long-term Liabilities:    
Contingent consideration payable 80,080 140,378
Construction note payable, net of unamortized issuance costs 10,797,696 10,922,443
Operating lease liability, net of current portion 1,737,615 903,490
Deferred income tax liability 2,309,592
Total Liabilities 39,234,262 39,739,302
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 December 31, 2023 and March 31, 2023, respectively 1,400 1,400
Common stock, $0.001 par value, 200,000,000 shares authorized 119,994,033 and 118,562,806 shares issued and 118,643,593 and 118,294,478 outstanding at December 31, 2023 and March 31, 2023, respectively 118,644 118,294
Additional paid-in capital 395,449,082 391,940,374
Accumulated deficit (31,513,554) (18,941,825)
Treasury Stock (2,673,156) (522,158)
Total Shareholders’ Equity 361,382,416 372,596,085
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 400,616,678 $ 412,335,387