XML 58 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
9 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities    
Net Income $ 603,559 $ 2,351,518
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 112,483 90,996
Change in inventory reserve 25,000 (110,000)
Change in allowance for bad debts 116,426 84,067
Loss from disposal of property and equipment 4,479 0
Stock based compensation 74,953 4,921
Warranty provisions 558,495 650,106
Change in net deferred tax assets 488,084 0
Changes in operating assets and liabilities:    
Accounts receivable (5,085,599) (4,518,889)
Due from Crestmark Bank (212,505) (477,577)
Inventories (1,625,394) (676,495)
Prepaid expenses and other current assets (1,877) 803
Other non-current assets 142,326 (282)
Increase (Decrease) in:    
Accounts payable 3,078,953 2,214,862
Net due to related parties 2,172,814 2,264,154
Accrued expenses 624,222 1,678,542
Obligations to clients for returns and allowances (20,572) (128,069)
Net cash provided by operating activities 1,055,847 3,428,657
Cash flows from investing activities    
Purchase of property and equipment (207,178) (148,262)
Deposit of restricted cash (137,967) 0
Net cash used in investing activities (345,145) (148,262)
Cash flows from financing activities    
Payments on long-term capital lease (7,670) 0
Net cash used in financing activities (7,670) 0
Change in cash 703,032 3,280,395
Cash at beginning of period 1,652,996 267,465
Cash at end of period 2,356,028 3,547,860
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 50,810 39,875
Supplemental Disclosures of Non-cash Investing Activities:    
Property and equipment purchased under capital lease $ 36,388 $ 0