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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net Income (Loss) $ 2,172,365 $ (2,857,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation 298,357 269,107
Amortization of deferred financing costs 61,699 13,333
Change in inventory reserve 202,339 180,000
Change in allowance for bad debts (198,881) 286,365
Stock based compensation 22,710 32,508
Change in net deferred tax assets 398,557 (527,355)
Gain - related party 220,023
Gain from settlement of accounts payable 390,000
Changes in operating assets and liabilities:    
Accounts receivable (239,541) (377,461)
Due from banks (2,168,682) (151,659)
Accounts receivable - related parties 100,000 188,941
Insurance receivable 1,268,463 (1,268,463)
Inventories 1,908,683 (1,756,966)
Prepaid expenses and other current assets 31,402 21,805
Other non-current assets 3,336 (60,427)
Accounts payable (3,190,530) 4,198,902
Income Taxes Payable
Accrued expenses 130,331 704,433
Due to related parties (438,666) 501,716
Customer deposits 139,064
Refunds due to customers (661,067) 775,400
Reserve for sales returns (264,000) 327,846
Operating lease liabilities, net of operating leases - right of use assets (14,945) (56,260)
Net cash provided by operating activities 171,017 444,765
Cash flows from investing activities    
Purchase of property and equipment (201,161) (517,546)
Net cash used in investing activities (201,161) (517,546)
Cash flows from financing activities    
Net Proceeds from revolving lines of credit 64,915
Proceeds from note payable - Payroll Protection Program 443,900
Payment of bank term note (125,000)
Payment of deferred financing charges (73,725)
Proceeds from installment notes 365,340
Payments on installment notes (65,010) (19,049)
Proceeds from subscription receivable 2,200
Proceeds from exercise of stock options 26,400 10,200
Payment on subordinated note payable - related party (300,000) (12,708)
Payments on finance leases (14,957) (14,410)
Net cash provided by financing activities 81,523 206,573
Net change in cash 51,379 133,792
Cash at beginning of year 345,200 211,408
Cash at end of year 396,579 345,200
Supplemental disclosures of cash flow information:    
Cash paid for interest 461,080 179,811
Operating leases - right of use assets initial adoption 1,108,330
Operating lease liabilities - initial adoption 1,234,368
Operating leases - right of use assets and lease liabilities at inception of lease $ 2,184,105