XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.4
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Income Statement [Abstract]        
Net sales $ 2,328,254 $ 3,171,532 $ 6,594,768 $ 10,914,787
Cost of sales 1,434,547 1,763,739 4,312,405 5,824,341
Gross margin 893,707 1,407,793 2,282,363 5,090,446
Selling, general and administrative 578,077 523,966 1,613,021 1,674,618
Litigation expenses 10,860 17,145 12,102 21,545
Engineering, research, and development 370,795 574,118 1,502,534 1,950,545
Total operating expenses 959,732 1,115,229 3,127,657 3,646,708
(Loss) income from operations (66,025) 292,564 (845,294) 1,443,738
Interest income 5,664 996 8,787 2,977
Other income 628,400 0 628,400 35,854
Gain on forgiveness of PPP loan 0 0 0 722,577
Interest expense – judgement (71,016) (52,490) (193,952) (156,901)
Total other net income (expense) 563,048 (51,494) 443,235 604,507
Income (loss) before income taxes 497,023 241,070 (402,059) 2,048,245
Income tax expense (benefit) 104,396 46,448 (84,449) 278,446
Net income (loss) 392,627 194,622 (317,610) 1,769,799
Preferred dividends (80,000) (80,000) (240,000) (240,000)
Net income (loss) attributable to common shareholders $ 312,627 $ 114,622 $ (557,610) $ 1,529,799
Basic net income (loss) per common share (in Dollars per share) $ 0.1 $ 0.04 $ (0.17) $ 0.47
Diluted net income (loss) per common share (in Dollars per share) $ 0.08 $ 0.04 $ (0.17) $ 0.35
Weighted average shares outstanding:        
Basic (in Shares) 3,255,887 3,255,887 3,255,887 3,255,887
Diluted (in Shares) 5,155,665 5,095,665 3,255,887 5,095,665