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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2015
Mar. 31, 2015
Current assets:    
Cash and cash equivalents $ 178,023 $ 185,932
Accounts receivable, net 1,856,985 1,625,171
Inventories, net 4,523,832 4,032,074
Prepaid expenses and other current assets 328,720 281,002
Deferred financing costs 5,429 5,429
Deferred income tax asset 1,064,395 1,064,395
Total current assets 7,957,384 7,194,003
Equipment and leasehold improvements, net 234,252 270,792
Deferred financing costs – long-term 7,435 8,792
Deferred income tax asset – non-current 2,162,405 2,377,583
Other long-term assets 32,317 32,317
Total assets 10,393,793 9,883,487
Current liabilities:    
Current portion of long-term debt, net of debt discount 393,846 387,839
Capital lease obligations – current portion 17,345 16,758
Accounts payable and accrued liabilities 3,903,312 3,577,566
Deferred revenues – current portion 8,167 18,609
Accrued payroll, vacation pay and payroll taxes 676,288 594,114
Total current liabilities 4,998,958 4,594,886
Subordinated notes payable - related parties 250,000 250,000
Capital lease obligations – long-term 0 4,561
Long-term debt 607,927 708,604
Deferred revenues – long-term 133,650 133,650
Warrant liability 451,202 518,962
Other long-term liabilities 26,700 33,000
Total liabilities $ 6,468,437 $ 6,243,663
Commitments    
Stockholders' equity:    
Common stock, 4,000,000 shares authorized, par value $0.10 per share, 3,256,887 and 3,256,887 shares issued and outstanding, respectively $ 325,686 $ 325,686
Additional paid-in capital 8,052,634 8,046,168
Accumulated deficit (4,452,964) (4,732,030)
Total stockholders' equity 3,925,356 3,639,824
Total liabilities and stockholders' equity $ 10,393,793 $ 9,883,487