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Management Plans
9 Months Ended
Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
Management Plans
 
The Company had net losses of $1,726,384 for the nine months ended December 31, 2017 and $2,058,902 and $2,137,792 for the years ended March 31, 2017 and 2016, respectively. Furthermore, as of December 31, 2017, working capital (computed as the excess of current assets over current liabilities) decreased by $864,080 from $3,556,524 at March 31, 2017, to $2,692,444 at December 31, 2017. In addition, the Company experienced negative cash flows from operations of $2,153,188 and $822,957 for the fiscal years ended March 31, 2017 and 2016, respectively. The Company experienced positive cash flows from operations for the nine month period ended December 31, 2017 of $689,175.
 
Our short-term borrowings to finance operating losses, trade accounts receivable, and foreign inventory purchases are provided pursuant to the terms of our Factoring Agreement (Agreement) with Merchant Factor Corporation (Merchant or Factor). Advances from the Factor, are at the sole discretion of Merchant based on their assessment of the Company’s receivables, inventory and financial condition at the time of each request for an advance. The availability remaining under this facility is approximately $722,000 at December 31, 2017.
 
In addition, we have secured extended payment terms of up to $4,000,000 for the purchase of sealed battery products from our Hong Kong Joint Venture. Amounts due for purchases under these extended payment terms are unsecured, bear interest at 4.5%, and are payable one hundred twenty days from the date of each purchase thereunder. At December 31, 2017 the Company has a balance under this arrangement with the Hong Kong Joint Venture of $3,860,994.
 
The Company has a history of sales that are insufficient to generate profitable operations and has limited sources of financing. Management’s plan in response to these conditions includes increasing sales resulting from the delivery of the Company’s line of sealed battery safety alarms and other new products, seeking additional financing, and reducing non-essential expenditures. This plan is in effect, approved by management, and management has continued to work on this plan through December 31, 2017. Though no assurances can be given, if management’s plan is successful over the next twelve months, the Company anticipates that it should be able to meet its cash needs. Cash flows and credit availability is expected to be adequate to fund operations for one year from the issuance date of these condensed consolidated financial statements.