XML 33 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2014
Mar. 31, 2014
Current Assets    
Cash $ 364,830 $ 1,354,099
Restricted cash 138,042 138,042
Accounts receivable, net of allowances of $148,708 and $172,465, respectively 1,049,795 955,551
Due from Crestmark Bank 0 19,638
Inventories, net 11,528,668 5,827,613
Prepaid expenses and other current assets 171,701 91,088
Deferred tax asset, net 894,175 604,284
Total Current Assets 14,476,138 9,357,835
Property and equipment, net 564,907 561,225
Other non-current assets 18,289 17,630
Deferred tax asset, net of non-current portion 1,793,972 1,793,972
Total Assets 16,853,306 11,730,662
Current Liabilities    
Accounts payable 6,797,582 1,918,076
Accrued expenses 543,589 446,314
Due to Crestmark Bank 64,776 0
Current portion of capital lease 12,212 12,076
Obligations to customers for returns and allowances 495,426 469,838
Warranty provisions 156,824 235,172
Total Current Liabilities 10,968,946 8,007,458
Long-term capital lease, net of current portion 10,601 13,706
Total Liabilities 13,610,939 8,021,164
Shareholders' Equity    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock value 380,706 380,706
Additional paid-in capital 19,294,525 19,262,127
Accumulated deficit (16,432,864) (15,933,335)
Total Shareholders' Equity 3,242,367 3,709,498
Total Liabilities and Shareholders' Equity 16,853,306 11,730,662
Starlight Consumer Electronics USA, Inc [Member]
   
Current Assets    
Due from related party 224,534 233,004
Starlight Electronics USA, Inc [Member]
   
Current Assets    
Due from related party 51,196 51,196
Starlight Electronics Co., Ltd [Member]
   
Current Assets    
Due from related party 0 83,320
Cosmo Communications Canada, Ltd [Member]
   
Current Assets    
Due from related party 53,197 0
Starlight Marketing Development, Ltd [Member]
   
Current Liabilities    
Due to related party 0 1,107,678
Subordinated related party debt 1,924,431 0
Starlight Marketing Development, Ltd [Member] | Subordinated Debt [Member]
   
Current Liabilities    
Subordinated related party debt 0 816,753
Starfair Electronics Company, Ltd [Member]
   
Current Liabilities    
Due to related party 17,738 17,738
Ram Light Management, Ltd [Member]
   
Current Liabilities    
Due to related party 583,247 0
Notes Payable, Related Parties, Current 393,039 0
Ram Light Management, Ltd [Member] | Subordinated Debt [Member]
   
Current Liabilities    
Subordinated related party debt 0 1,683,247
Starlight R and D, Ltd [Member]
   
Current Liabilities    
Due to related party 169,911 194,678
Cosmo Communications USA, Inc [Member]
   
Current Liabilities    
Due to related party 0 50,441
Starlight Electronics Company, Ltd [Member]
   
Current Liabilities    
Due to related party 61,500 0
Other Starlight Group Companies [Member]
   
Current Liabilities    
Due to related party 3,534 3,534
Starlight Consumer Electronics Co Ltd [Member]
   
Current Liabilities    
Due to related party 1,669,568 1,051,913
Ram Light Mnagement, Ltd., [Member]
   
Current Liabilities    
Note payable related party - Ram Light Management, Ltd. net of current portion 706,961 0
Common Class A [Member]
   
Shareholders' Equity    
Common stock value $ 0 $ 0