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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2011
Mar. 31, 2011
Current assets:  
Cash and cash equivalents$ 932,289$ 123,955
Accounts receivable, net1,455,3632,585,619
Unbilled government receivables1,466,6231,466,623
Inventories, net2,645,8182,970,378
Prepaid expenses and other121,60870,970
Deferred debt expense108,321108,321
Deferred income tax asset1,103,5991,131,175
Total current assets7,833,6218,457,041
Equipment and leasehold improvements, net420,134330,694
Deferred debt expenses – long-term318,945373,105
Deferred income tax asset – non-current1,461,6641,461,664
Other assets62,67035,235
Total assets10,097,03410,657,739
Current liabilities:  
Current portion long-term debt504,617282,798
Capital lease obligations10,44515,685
Accounts payable437,2411,598,679
Progress billings 424,202
Deferred revenues – current portion23,73128,382
Accrued payroll, vacation pay and payroll taxes419,109445,738
Accrued expenses1,900,3691,287,034
Total current liabilities3,295,5124,082,518
Subordinated notes payable-related parties250,000250,000
Capital lease obligations – long-term57,327 
Deferred revenues8,96915,381
Warranty Liability429,832366,137
Long-term debt, net of debt discount1,744,6821,979,114
Total liabilities5,786,3226,693,150
Commitments00
Stockholders' equity:  
Common stock, par value $.10 per share, 2,652,315 and 2,646,215 issued and outstanding as of September 30, 2011 and March 31, 2011, respectively265,231264,621
Additional paid-in capital5,777,8795,711,531
Accumulated deficit(1,732,398)(2,011,563)
Total stockholders' equity4,310,7123,964,589
Total liabilities and stockholders' equity$ 10,097,034$ 10,657,739