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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2017
Mar. 31, 2017
Current assets:    
Cash and cash equivalents $ 263,983 $ 287,873
Accounts receivable, net 1,660,757 1,556,382
Inventories, net 4,309,324 4,208,179
Restricted cash to support appeal bond 2,000,000 0
Prepaid expenses and other current assets 107,450 188,578
Total current assets 8,341,514 6,241,012
Equipment and leasehold improvements, net 197,602 161,427
Other long-term assets 35,109 33,509
Total assets 8,574,225 6,435,948
Current liabilities:    
Current portion of long-term debt 3,696 291,991
Line of credit 1,000,000 200,000
Capital lease obligations – current portion 6,718 6,268
Accounts payable and accrued liabilities 2,431,763 2,072,955
Federal and state taxes payable 0 4,105
Deferred revenues – current portion 54,671 123,720
Accrued legal damages 4,930,523 2,800,000
Accrued payroll, vacation pay and payroll taxes 396,207 527,413
Total current liabilities 8,823,578 6,026,452
Capital lease obligations – long-term 8,664 13,760
Long-term debt 0 2,124
Deferred revenues – long-term 353,280 352,973
Warrant liability 0 95,000
Total liabilities 9,185,522 6,490,309
Commitments
Mezzanine Equity:    
Preferred stock, 1,000,000 shares authorized, par value $0.10 per share, 500,000 shares 8% Cumulative Series A Convertible Preferred issued and outstanding 2,990,667 0
Total mezzanine equity 2,990,667 0
Stockholders’ (deficit):    
Common stock, 4,000,000 shares authorized, par value $0.10 per share, 3,255,887 shares issued and outstanding, respectively 325,586 325,586
Paid-in capital in excess of par value, common stock 8,099,882 8,107,369
Accumulated deficit (12,027,432) (8,487,316)
Total stockholders’ deficit (3,601,964) (54,361)
Total liabilities, mezzanine equity and stockholders’ deficit $ 8,574,225 $ 6,435,948