XML 27 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Consolidated Balance Sheets
Mar. 31, 2022
USD ($)
Current Assets:  
Cash and cash equivalents $ 23,281,475
Accounts receivable, net 43,955,084
Due from related parties 15,000
Inventories 59,016,152
Prepaid expenses 3,423,925
Current portion of restricted cash 0
Total Current Assets 129,691,636
Equipment, net 37,637,806
Other Assets:  
Deposits 11,360,322
Goodwill 90,870,094
Right of use assets - operating leases 2,791,850
Deferred income tax asset 1,350,868
TOTAL ASSETS 415,840,465
Current Liabilities:  
Accounts payable 26,817,083
Factoring liability 485,671
Accrued liabilities 6,213,592
Inventory credit facility 825,675
Current portion of operating lease liability 831,429
Note payable related party 684,639
Total Current Liabilities 35,858,089
Long-term Liabilities:  
Contingent consideration payable 204,142
Notes payable related party, net of current portion 181,132
Income tax payable 1,609,520
Construction note payable, net of unamortized issuance costs 38,330
Operating lease liability, net of current portion 2,091,351
Total Liabilities 39,982,564
Shareholders’ Equity:  
Series A cumulative perpetual preferred Stock 8.75%, ($25.00 per share, $0.001 par value) 1,400,000 shares issued and outstanding as of March 31, 2024 and March 31, 2023, respectively 1,400
Common stock, $0.001 par value, 200,000,000 shares authorized 120,531,507 and 118,562,806 shares issued and 119,181,067 and 118,294,478 outstanding at March 31, 2024 and March 31, 2023, respectively 116,487
Additional paid-in capital 414,084,541
Accumulated deficit (38,344,527)
Total Shareholders’ Equity 375,857,901
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 415,840,465
Related Party  
Current Assets:  
Accounts receivable, net 139,164
Long-term Liabilities:  
Notes payable related party, net of current portion 181,132
Patents [Member]  
Other Assets:  
Intangible assets, net 5,837,502
Other Intangible Assets [Member]  
Other Assets:  
Intangible assets, net $ 136,300,387