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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Net income $ 823,877 $ 705,118
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes 317,509 612,816
Depreciation and amortization 95,209 122,399
Provision for bad debts 0 1,205
Provision for inventory obsolescence 20,000 35,713
Amortization of deferred financing costs 4,072 4,072
Change in fair value of common stock warrant (288,203) 697,579
Non-cash stock-based compensation 24,536 23,546
Changes in assets and liabilities:    
Decrease in accounts receivable 396,430 596,529
Decrease (increase) in inventories 185,145 (812,003)
(Increase) decrease in prepaid expenses & other assets (28,774) 28,393
Decrease in accounts payable and other accrued expenses (299,359) (1,238,440)
Decrease in federal and state taxes (53,623) 0
(Decrease) increase in accrued payroll, vacation pay & withholdings (224,072) 215,019
Increase in deferred revenues 338,792 5,401
Decrease in other long-term liabilities (7,800) (18,900)
Net cash generated by operating activities 1,303,739 978,447
Cash flows from investing activities:    
Purchases of equipment (37,070) (45,041)
Net cash used in investing activities (37,070) (45,041)
Cash flows from financing activities:    
Proceeds from bank loan 0 18,000
Payment of warrant liability (720,000) 0
Repayment of long-term debt (322,894) (290,937)
Repayment of subordinated notes - related parties (25,000) (205,000)
Repayment of capitalized lease obligations (9,254) (12,348)
Net cash used in financing activities (1,077,148) (490,285)
Net (decrease) increase in cash and cash equivalents 189,521 443,121
Cash and cash equivalents at beginning of period 972,633 185,932
Cash and cash equivalents at end of period 1,162,154 629,053
Supplemental cash flow information:    
Taxes paid 87,374 0
Interest paid $ 107,768 $ 47,793