XML 13 R2.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2018
Mar. 31, 2017
Current Assets    
Cash $ 813,908 $ 2,305,439
Accounts receivable, net of allowances of $82,102 and $132,583 respectively 1,066,839 1,655,518
Due from PNC Bank 6,212 242,859
Inventories, net 8,057,774 5,426,346
Prepaid expenses and other current assets 137,970 81,278
Deferred financing costs 13,333 21,606
Total Current Assets 11,253,194 9,733,046
Property and equipment, net 450,305 412,805
Other non-current assets 11,523 11,523
Deferred financing costs, net of current portion 16,667
Deferred tax assets 937,137 1,479,209
Total Assets 12,668,826 11,636,583
Current Liabilities    
Accounts payable 1,614,748 1,381,870
Current portion of bank term note payable 500,000
Accrued expenses 701,932 626,331
Obligations to customers for returns and allowances 445,484 38,460
Warranty provisions 246,840 223,700
Total Current Liabilities 4,612,471 4,194,792
Bank term note payable, net of current portion 125,000
Total Liabilities 4,863,046 4,194,792
Commitments and Contingencies  
Shareholders' Equity    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding  
Additional paid-in capital 19,624,063 19,412,787
Accumulated deficit (12,201,103) (12,353,589)
Total Shareholders' Equity 7,805,780 7,441,791
Total Liabilities and Shareholders' Equity 12,668,826 11,636,583
Common Class A [Member]    
Shareholders' Equity    
Common stock
Common Class B [Member]    
Shareholders' Equity    
Common stock 382,820 382,593
Starlight Consumer Electronics USA, Inc. [Member]    
Current Assets    
Accounts receivable related party 7,054
Winglight Pacific Ltd [Member]    
Current Assets    
Accounts receivable related party 1,150,104
Subordinated Debt [Member] | Starlight Marketing Development, Ltd [Member]    
Current Liabilities    
Due to related party 689,792 1,924,431
Subordinated related party debt - Starlight Marketing Development, Ltd., net of current portion $ 125,575