XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Net sales $ 2,625,793 $ 4,236,519 $ 7,955,035 $ 14,654,917
Cost of sales 1,689,113 2,602,268 5,377,195 9,318,425
Gross margin 936,680 1,634,251 2,577,840 5,336,492
Operating expenses:        
Selling, general and administrative 548,391 582,880 1,881,072 2,042,922
Litigation expenses 134,765 282,490 560,610 609,330
Legal damages 30,523 0 2,130,523 0
Engineering, research and development 546,691 615,007 1,691,631 1,783,655
Total operating expenses 1,260,370 1,480,377 6,263,836 4,435,907
(Loss) income from operations (323,690) 153,874 (3,685,996) 900,585
Other income (expense):        
Proceeds from life insurance 0 0 92,678 0
Amortization of deferred financing costs (649) (1,359) (3,363) (4,072)
Change in fair value of common stock warrants 5,000 37,000 95,000 288,203
Interest expense (14,097) (11,620) (38,435) (46,953)
Total other income (expense) (9,746) 24,021 145,880 237,178
(Loss) income before income taxes (333,436) 177,895 (3,540,116) 1,137,763
Income tax expense 0 36,382 0 313,886
Net (loss) income (333,436) 141,513 (3,540,116) 823,877
Preferred stock dividends (30,667) 0 (30,667) 0
Net (loss) income attributable to common shareholders $ (364,103) $ 141,513 $ (3,570,783) $ 823,877
Basic (loss) income per common share (in Dollars per share) $ (0.11) $ 0.04 $ (1.10) $ 0.25
Diluted (loss) income per common share (in Dollars per share) $ (0.11) $ 0.03 $ (1.10) $ 0.23
Weighted average shares outstanding:        
Basic (in Shares) 3,255,887 3,255,887 3,255,887 3,255,887
Diluted (in Shares) 3,255,887 3,265,135 3,255,887 3,266,532