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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 16,782,764 $ 4,791,100
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 992,136 933,531
Bad debt expense 194,600
Amortization of operating leases - right-of-use assets 18,153 61,621
Non-cash compensation accrued 563,105 430,778
Change in fair value of derivative financial instruments - warrants 5,075,489 (561,070)
Change in fair value of stock-based liabilities 4,921,376
Gain on settlement of Common Stock to consultant (1,761,792)
Non-cash compensation through the issuance of employee stock options 107,592 24,325
Non-cash rent expense and lease accretion 602
Deferred revenue (10,001) (10,003)
Change in operating assets and liabilities:    
Accounts receivable (13,109,665) (2,487,930)
Inventory (4,774,325) (1,860,688)
Prepaid expenses and other current assets 40,908 (581,113)
Deferred income tax asset (18,061,782)
Accounts payable, accrued expenses and other current liabilities 3,702,825 (309,950)
Interest expense of finance lease liability (2,915)
Lease obligations - operating leases (20,005) (61,182)
Net cash (used in) provided by operating activities (5,341,537) 370,021
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (406,007) (5,200,407)
Net cash used in investing activities (406,007) (5,200,407)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Payment of bond principal (125,000) (115,000)
Proceeds from related party loans payable 4,000,000
Proceeds from loans payable 14,550,001
Amortization of finance leases - right-of-use assets 6,923
Loan payments (134,850) (230,770)
Net cash provided by financing activities 3,747,073 14,204,231
Net change in cash and restricted cash (2,000,471) 9,373,845
Cash and restricted cash, beginning of period 8,244,681 8,940,396
Cash and restricted cash, end of period 6,244,210 18,314,241
Supplemental disclosure of cash and non-cash transactions:    
Cash paid for interest 119,412 782,221
Cash paid for income taxes 292,000 127,522
Stock issued in satisfaction of accrued directors salaries and consultant fees 563,105 137,067
Recognition of right of use asset and lease liabilities entered into 272,620
Reconciliation of cash and restricted cash    
Cash 5,816,211 17,909,077
Restricted cash - debt service for NJEDA bonds 427,999 405,164
Total cash and restricted cash shown in statement of cash flows $ 6,244,210 $ 18,314,241