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Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Mar. 31, 2023
Current Assets:    
Cash and cash equivalents $ 55,586,441 $ 39,134,027
Accounts receivable, net 28,221,321 29,346,380
Inventories 45,563,334 54,344,819
Prepaid expenses 2,154,170 5,126,667
Current portion of restricted cash 500,000
Total Current Assets 131,525,266 128,451,893
Equipment, net 58,082,040 55,963,255
Other Assets:    
Deposits 349,278 7,028,947
Patents, net 4,539,290 5,032,754
Other intangible assets, net 111,049,067 123,726,810
Goodwill 90,870,094 90,870,094
Right of use assets - operating leases 2,000,093 1,261,634
Deferred income tax asset 1,487,088
TOTAL ASSETS 399,902,216 412,335,387
Current Liabilities:    
Accounts payable 23,156,495 18,079,397
Accrued liabilities 7,030,667 4,353,354
Current portion of operating lease liability 479,651 470,734
Note payable related party 180,850
Current portion of construction note payable 273,459 260,429
Insurance premium note payable 2,118,635
Total Current Liabilities 30,940,272 25,463,399
Long-term Liabilities:    
Contingent consideration payable 59,838 140,378
Construction note payable, net of unamortized issuance costs 10,735,241 10,922,443
Operating lease liability, net of current portion 1,609,836 903,490
Deferred income tax liability 2,309,592
Total Liabilities 43,345,187 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 March 31, 2024 and March 31, 2023, respectively 1,400 1,400
Common stock, $0.001 par value, 200,000,000 shares authorized 120,531,507 and 118,562,806 shares issued and 119,181,067 and 118,294,478 outstanding at March 31, 2024 and March 31, 2023, respectively 119,181 118,294
Additional paid-in capital 396,730,170 391,940,374
Accumulated deficit (37,620,566) (18,941,825)
Treasury Stock (2,673,156) (522,158)
Total Shareholders’ Equity 356,557,029 372,596,085
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 399,902,216 $ 412,335,387