XML 13 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Mar. 31, 2018
Current assets:    
Cash and cash equivalents $ 254,732 $ 307,812
Accounts receivable, net 672,884 1,095,049
Inventories, net 4,095,888 4,269,934
Restricted cash to support appeal bond 2,001,864 2,000,866
Prepaid expenses and other current assets 162,106 147,746
Total current assets 7,187,474 7,821,407
Equipment and leasehold improvements, net 164,037 180,763
Deferred tax asset, net 63,500 63,500
Other long-term assets 35,109 35,109
Total assets 7,450,120 8,100,779
Current liabilities:    
Current portion of long-term debt 534 2,124
Line of credit 950,000 1,000,000
Capital lease obligations – current portion 7,036 6,875
Accounts payable and accrued liabilities 2,576,612 2,580,383
Deferred revenues – current portion 279,087 60,051
Accrued legal damages 5,072,642 5,059,990
Accrued payroll, vacation pay and payroll taxes 380,346 447,863
Total current liabilities 9,266,257 9,157,286
Capital lease obligations – long-term 5,064 6,885
Deferred revenues – long-term 318,185 337,676
Total liabilities 9,589,506 9,501,847
Commitments and contingencies
Stockholders’ deficit:    
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 3,095,995 3,035,998
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 7,994,733 8,046,975
Accumulated deficit (13,555,700) (12,809,627)
Total stockholders’ deficit (2,139,386) (1,401,068)
Total liabilities, mezzanine equity and stockholders’ deficit $ 7,450,120 $ 8,100,779