XML 44 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2014
Mar. 31, 2013
Current Assets    
Cash $ 1,354,099 $ 1,652,996
Restricted cash 138,042 0
Accounts receivable, net of allowances of $172,465 and $180,306, respectively 955,551 1,100,475
Due from Crestmark Bank 19,638 0
Inventories, net 5,827,613 4,123,407
Prepaid expenses and other current assets 91,088 84,441
Deferred tax asset, net 604,284 421,340
Total Current Assets 9,357,835 7,785,813
Property and equipment, net 561,225 482,777
Other non-current assets 17,630 159,956
Deferred tax asset, net non-current portion 1,793,972 1,198,119
Total Assets 11,730,662 9,626,665
Current Liabilities    
Accounts payable 1,918,076 1,135,125
Accrued expenses 446,314 686,012
Current portion of capital lease 12,076 0
Obligations to clients for returns and allowances 469,838 376,289
Warranty provisions 235,172 215,471
Total Current Liabilities 8,007,458 4,528,834
Long-term capital lease, net of current portion 13,706 0
Total Liabilities 8,021,164 7,028,834
Shareholders' Equity    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock value 380,706 380,289
Additional paid-in capital 19,262,127 19,155,193
Accumulated deficit (15,933,335) (16,937,651)
Total Shareholders' Equity 3,709,498 2,597,831
Total Liabilities and Shareholders' Equity 11,730,662 9,626,665
Starlight Consumer Electronics USA, Inc [Member]
   
Current Assets    
Due from related party 233,004 291,343
Starlight Electronics USA, Inc [Member]
   
Current Assets    
Due from related party 51,196 50,501
Starlight Electronics Co., Ltd [Member]
   
Current Assets    
Due from related party 83,320 0
Cosmo Communications Canada, Ltd [Member]
   
Current Assets    
Due from related party 0 61,310
Current Liabilities    
Due to related party 50,441 0
Starlight Marketing Development, Ltd [Member]
   
Current Liabilities    
Due to related party 1,107,678 1,107,678
Starlight Marketing Development, Ltd [Member] | Subordinated Debt [Member]
   
Current Liabilities    
Due to related party 816,753 0
Subordinated related party debt 0 816,753
Starfair Electronics Company, Ltd [Member]
   
Current Liabilities    
Due to related party 17,738 0
Ram Light Management, Ltd [Member]
   
Current Liabilities    
Due to related party 1,683,247 1,683,247
Ram Light Management, Ltd [Member] | Subordinated Debt [Member]
   
Current Liabilities    
Due to related party 1,683,247 0
Subordinated related party debt 0 1,683,247
Starlight R and D, Ltd [Member]
   
Current Liabilities    
Due to related party 194,678 419,600
Other Starlight Group Companies [Member]
   
Current Assets    
Due from related party 367,520 399,620
Current Liabilities    
Due to related party 3,534 3,534
Starlight Consumer Electronics Co Ltd [Member]
   
Current Liabilities    
Due to related party 1,051,913 585,125
Common Class A [Member]
   
Shareholders' Equity    
Common stock value $ 0 $ 0