XML 36 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Net sales $ 4,089,029 $ 2,350,020 $ 11,323,585 $ 5,922,258
Cost of sales 2,693,342 1,896,652 7,465,991 4,582,773
Gross margin 1,395,687 453,368 3,857,594 1,339,485
Operating expenses:        
Selling, general and administrative 697,919 587,146 2,022,579 1,927,380
Engineering, research and development 449,477 481,055 1,378,426 1,608,459
Total operating expenses 1,147,396 1,068,201 3,401,005 3,535,839
Income (loss) from operations 248,291 (614,833) 456,589 (2,196,354)
Other income (expense):        
Amortization of debt discount (27,120) (37,948) (75,707) (82,349)
Loss on extinguishment of debt 0 0 (26,600) 0
Amortization of deferred financing costs (27,827) (68,383) (81,987) (152,174)
Financing costs 0 (21,441) 0 (47,918)
Change in fair value of common stock Warrants (229,726) 19,710 (272,499) 268,767
Interest income 129 420 163 433
Interest expense (50,828) (126,490) (252,295) (349,990)
Total other income (expense) (335,372) (234,132) (708,925) (363,231)
Loss before income taxes (87,081) (848,965) (252,336) (2,559,585)
Income tax expense (benefit) 58,852 (303,788) 51,843 (915,903)
Net loss $ (145,933) $ (545,177) $ (304,179) $ (1,643,682)
Basic income (loss) per common share (in Dollars per share) $ (0.04) $ (0.19) $ (0.10) $ (0.59)
Diluted income (loss) per common share (in Dollars per share) $ (0.04) $ (0.19) $ (0.10) $ (0.59)
Weighted average shares outstanding:        
Basic (in Shares) 3,247,387 2,912,516 3,189,123 2,776,643
Diluted (in Shares) 3,247,387 2,912,516 3,189,123 2,776,643