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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2012
Mar. 31, 2012
Current assets:    
Cash and cash equivalents $ 98,794 $ 413,195
Accounts receivable, net 652,916 1,694,636
Unbilled government receivables 1,051,657 1,780,381
Inventories, net 6,804,031 5,023,975
Prepaid expenses and other 93,874 220,255
Deferred debt expense 148,727 108,321
Deferred income tax asset 1,099,169 1,288,631
Total current assets 9,949,168 10,529,394
Equipment and leasehold improvements, net 607,546 706,870
Deferred debt expenses – long-term 183,544 264,784
Deferred income tax asset – non-current 2,057,765 948,489
Other assets 56,872 56,872
Total assets 12,854,895 12,506,409
Current liabilities:    
Current portion long-term debt 1,187,534 542,382
Capital lease obligations – current portion 72,023 64,675
Accounts payable 4,373,431 3,223,291
Deferred revenues – current portion 24,426 34,767
Accrued payroll, vacation pay and payroll taxes 369,455 440,116
Accrued expenses 1,174,606 1,702,052
Total current liabilities 7,201,475 6,007,283
Subordinated notes payable-related parties 250,000 250,000
Capital lease obligations 94,607 149,582
Deferred revenues 1,853 4,637
Warrant liability 200,634 355,290
Long-term debt, net of debt discount 1,333,377 1,490,302
Total liabilities 9,081,946 8,257,094
Commitments 0 0
Stockholders' equity:    
Common stock, par value $.10 per share, 3,000,639 and 2,684,215 issued and outstanding as of December 31, 2012 and March 31, 2012, respectively 300,061 268,421
Additional paid-in capital 7,057,117 5,921,441
Accumulated deficit (3,584,229) (1,940,547)
Total stockholders' equity 3,772,949 4,249,315
Total liabilities and stockholders' equity $ 12,854,895 $ 12,506,409