XML 58 R5.htm IDEA: XBRL DOCUMENT v3.3.0.814
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
6 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash flows from operating activities:    
Net Income (Loss) $ 576,547 $ (178,358)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 74,665 62,204
Amortization of deferred financing costs 37,039 15,433
Change in inventory reserve 112,440 50,000
Change in allowance for bad debts (48,741) 63,156
Stock based compensation 12,193 42,103
Warranty provisions 429,658 292,859
Change in net deferred tax assets 374,694 (111,257)
Changes in operating assets and liabilities:    
Accounts receivable (15,457,793) (8,059,910)
Inventories (2,213,520) (9,280,282)
Prepaid expenses and other current assets (95,715) (67,778)
Other non-current assets 0 6,236
Increase (decrease) in:    
Accounts payable 6,495,546 9,439,129
Net due to related parties 744,914 726,052
Accrued expenses 1,179,864 712,285
Customer deposits 91,157 0
Obligations to customers for returns and allowances (394,009) (960)
Net cash used in operating activities (8,081,061) (6,289,088)
Cash flows from investing activities:    
Purchase of property and equipment (129,517) (33,013)
Net cash used in investing activities (129,517) (33,013)
Cash flows from financing activities:    
Payment of deferred financing costs 0 (222,232)
Payments on long-term capital lease (6,244) (5,971)
Net cash provided by financing activities 8,539,604 5,142,316
Net change in cash 329,026 (1,179,785)
Cash at beginning of period 116,286 1,354,099
Cash at end of the period 445,312 174,314
Supplemental Disclosures of Cash Flow Information:    
Cash paid for interest 58,808 63,205
Ram Light Management, Ltd [Member]    
Cash flows from financing activities:    
Payment on note payable related party (132,456) 0
Revolving Credit Facility [Member]    
Cash flows from financing activities:    
Net proceeds from revolving line of credit $ 8,678,304 $ 5,370,519