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Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Mar. 31, 2021
Current Assets    
Cash $ 7,375,305 $ 396,579
Accounts receivable, net of allowances of $306,975 and $138,580, respectively 12,254,098 2,210,881
Due from Crestmark Bank 4,557,120
Accounts receivable related party - Stingray Group, Inc. 159,125 88,041
Inventories, net 11,126,298 5,490,255
Prepaid expenses and other current assets 284,206 221,071
Deferred financing costs 17,188 15,359
Total Current Assets 31,216,220 12,979,306
Property and equipment, net 580,922 674,153
Deferred tax assets 638,391 887,164
Operating Leases - right of use assets 1,488,258 2,074,115
Other non-current assets 136,885 147,173
Total Assets 34,060,676 16,761,911
Current Liabilities    
Accounts payable 5,982,552 2,461,103
Accrued expenses 2,417,409 1,659,499
Due to related party - Starlight Consumer Electronics Co., Ltd. 14,400 14,400
Due to related party - Starlight R&D, Ltd. 48,650 48,650
Revolving lines of credit 8,626,840 64,915
Customer deposits 9,520 139,064
Refunds due to customers 90,075 145,408
Reserve for sales returns 2,922,457 960,000
Current portion of finance leases 7,421 2,546
Current portion of installment notes 72,760 68,332
Current portion of note payable - Paycheck Protection Program 172,685
Current portion of operating lease liabilities 860,528 794,938
Subordinated related party debt - Starlight Marketing Development, Ltd. 352,659 502,659
Total Current Liabilities 21,405,271 7,034,199
Finance leases, net of current portion 12,592
Installment notes, net of current portion 157,812 212,949
Note payable - Payroll Protection Program, net of current portion 271,215
Operating lease liabilities, net of current portion 685,304 1,334,010
Total Liabilities 22,260,979 8,852,373
Commitments and Contingencies
Shareholders’ Equity    
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding
Common stock 366,362 390,407
Additional paid-in capital 24,542,633 19,773,322
Accumulated deficit (13,109,298) (12,254,191)
Total Shareholders’ Equity 11,799,697 7,909,538
Total Liabilities and Shareholders’ Equity 34,060,676 16,761,911
Common Class A [Member]    
Shareholders’ Equity    
Common stock
Common Class B [Member]    
Shareholders’ Equity    
Common stock $ 366,362 $ 390,407