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Consolidated Balance Sheets (USD $)
Jun. 30, 2014
Mar. 31, 2014
Current assets:    
Cash and cash equivalents $ 202,458 $ 232,118
Accounts receivable, net 844,712 2,095,640
Inventories, net 4,568,538 4,025,391
Prepaid expenses and other current assets 580,220 263,592
Deferred financing costs 108,321 108,321
Deferred income tax asset 1,089,538 1,089,538
Total current assets 7,393,787 7,814,600
Equipment and leasehold improvements, net 392,945 450,873
Deferred financing costs – long-term 21,062 48,142
Deferred income tax asset – non-current 2,386,250 2,273,068
Other long-term assets 47,670 47,670
Total assets 10,241,714 10,634,353
Current liabilities:    
Current portion of long-term debt 745,090 718,848
Capital lease obligations – current portion 37,183 53,608
Accounts payable and accrued liabilities 3,329,588 3,332,181
Progress billings 775,475 775,475
Deferred revenues – current portion 4,226 37,452
Accrued payroll, vacation pay and payroll taxes 473,174 444,238
Total current liabilities 5,364,736 5,361,802
Subordinated notes payable - related parties 250,000 250,000
Capital lease obligations – long-term 17,345 21,320
Long-term debt, net of debt discount 445,089 596,526
Deferred revenues – long-term 133,650 133,650
Warrant liability 488,190 354,309
Other long-term liabilities 54,000 56,100
Total liabilities 6,753,010 6,773,707
Stockholders' equity:    
Common stock, par value $0.10 per share, 3,251,387 shares issued and outstanding as of June 30, 2014 and March 31, 2014 325,136 325,136
Additional paid-in capital 7,999,163 7,987,100
Accumulated deficit (4,835,595) (4,451,590)
Total stockholders' equity 3,488,704 3,860,646
Total liabilities and stockholders' equity $ 10,241,714 $ 10,634,353