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Subsequent Events | 9 Months Ended
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Dec. 31, 2012
Subsequent Events [Abstract] |
Subsequent Events | 18. Subsequent Events Stock Repurchase Agreement In January 2013, the Company repurchased 33,827 shares of its common stock from the Shareholders pursuant to the Stock Repurchase Agreement at a total cost of approximately $200,000. Option Purchase Agreement In January 2013, the Company entered into an option purchase agreement (the "Option Purchase Agreement") with Mr. Joffe. Pursuant to the Option Purchase Agreement, among other things, the Company would purchase Mr. Joffe's options to purchase 101,500 shares of the Company's common stock granted under the Company's 1994 Stock Option Plan at a net purchase price of $454,675. This payment represents the difference per share of common stock between $6.87, the average closing price of the Company's common stock for the five consecutive trading days preceding, and including the date of the Option Purchase Agreement, and the exercise price of the respective stock options, discounted five percent and multiplied by the total number of shares under Mr. Joffe's stock options. In connection with the Option Purchase Agreement, the Company entered into a fifth amendment to the Parent Company Financing Agreement (the "Fifth Amendment"), which among other things, permitted the Company to purchase Mr. Joffe's stock options pursuant to the Option Purchase Agreement. Fenco Purchases In January 2013, the lenders under the Parent Company Financing Agreement consented to the purchase by the Company of up to $2,400,000 of inventory for Fenco from the Supplier and the sale of that inventory to Fenco from time to time on a cash-on-delivery basis.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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