XML 33 R4.htm IDEA: XBRL DOCUMENT v3.2.0.727
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Net sales $ 5,845,919 $ 3,129,076
Cost of sales 4,030,624 2,008,859
Gross margin 1,815,295 1,120,217
Operating expenses:    
Selling, general and administrative 865,688 879,193
Engineering, research and development 492,132 483,896
Total operating expenses 1,357,820 1,363,089
Income (loss) from operations 457,475 (242,872)
Other income (expense):    
Amortization of debt discount 0 (30,874)
Amortization of deferred financing costs (1,357) (27,080)
Change in fair value of common stock warrants 67,760 (133,881)
Interest expense (29,634) (62,480)
Total other income (expense) 36,769 (254,315)
Income (loss) before income taxes 494,244 (497,187)
Income tax provision (benefit) 215,178 (113,182)
Net income (loss) $ 279,066 $ (384,005)
Net income (loss) per share:    
Basic income (loss) per common share (in Dollars per share) $ 0.09 $ (0.12)
Diluted income (loss) per common share (in Dollars per share) $ 0.02 $ (0.12)
Weighted average shares outstanding:    
Basic (in Shares) 3,256,887 3,251,387
Diluted (in Shares) 3,320,442 3,251,387