XML 53 R46.htm IDEA: XBRL DOCUMENT v3.25.1
SUMMARY OF EFFECT OF RESTATEMENT OF FINANCIAL STATEMENTS - UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEET (Details) - USD ($)
Jun. 30, 2024
Mar. 31, 2024
Jun. 30, 2023
Mar. 31, 2023
Current assets:        
Cash and cash equivalents $ 50,754,570 $ 55,586,441 $ 47,505,047  
Accounts receivable, net 19,436,712 28,221,321    
Due from related parties 4,800,000      
Inventories 54,717,709 45,563,334    
Prepaid expenses 4,244,197 2,154,170    
Current portion of restricted cash       $ 500,000
Total Current Assets 133,953,188 131,525,266    
Equipment, net 57,998,933 58,082,040    
Other assets:        
Deposits 1,325,806 349,278    
Intangible assets, net 112,603,661      
Goodwill 90,870,094 90,870,094    
Right of use assets operating leases 1,825,564 2,000,093    
Deferred income tax asset 0 4,407,491    
TOTAL ASSETS 398,577,246 403,039,335    
Current liabilities:        
Accounts payable 22,678,651 23,156,495    
Accrued liabilities 17,176,369 7,065,444    
Current portion of operating lease liability 488,887 479,651    
Current portion of construction note payable 276,616 273,459    
Insurance premium note payable 1,680,594 0    
Total Current Liabilities 42,301,117 30,975,049    
Long-term liabilities:        
Contingent consideration payable 39,852 59,838    
Income tax payable 1,609,520 1,609,520    
Construction note payable, net of unamortized issuance costs 10,710,081 10,735,241    
Operating lease liability, net of current portion 1,426,740 1,609,836    
Total Liabilities 56,087,310 44,989,484    
Shareholders' equity:        
Series A cumulative perpetual preferred Stock 1,400    
Common stock 118,757 119,181    
Additional paid in capital 431,595,542 430,525,824    
Accumulated deficit (85,457,506) (69,923,398)    
Treasury stock (3,768,257) (2,673,156)    
Total Shareholders’ Equity 342,489,936 358,049,851 $ 371,767,397 $ 374,121,135
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 398,577,246 403,039,335    
Patents [Member]        
Other assets:        
Intangible assets, net 4,620,819 4,756,006    
Other Intangible Assets [Member]        
Other assets:        
Intangible assets, net 107,982,842 111,049,067    
Related Party [Member]        
Current assets:        
Due from related parties 4,800,000 $ 0    
As Previously Reported [Member]        
Current assets:        
Cash and cash equivalents 50,754,570      
Accounts receivable, net 19,436,712      
Inventories 54,717,709      
Prepaid expenses 4,244,197      
Total Current Assets 133,953,188      
Equipment, net 57,998,933      
Other assets:        
Deposits 1,325,806      
Goodwill 90,870,094      
Right of use assets operating leases 1,825,564      
Deferred income tax asset 4,046,430      
TOTAL ASSETS 402,418,781      
Current liabilities:        
Accounts payable 22,678,651      
Accrued liabilities 17,141,591      
Current portion of operating lease liability 488,887      
Current portion of construction note payable 276,616      
Insurance premium note payable 1,680,594      
Total Current Liabilities 42,266,339      
Long-term liabilities:        
Contingent consideration payable 39,852      
Construction note payable, net of unamortized issuance costs 10,710,081      
Operating lease liability, net of current portion 1,426,740      
Total Liabilities 54,443,012      
Shareholders' equity:        
Series A cumulative perpetual preferred Stock 1,400      
Common stock 118,757      
Additional paid in capital 397,079,854      
Accumulated deficit (45,455,985)      
Treasury stock (3,768,257)      
Total Shareholders’ Equity 347,975,769      
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 402,418,781      
As Previously Reported [Member] | Patents [Member]        
Other assets:        
Intangible assets, net 4,415,924      
As Previously Reported [Member] | Other Intangible Assets [Member]        
Other assets:        
Intangible assets, net 107,982,842      
As Previously Reported [Member] | Related Party [Member]        
Current assets:        
Due from related parties 4,800,000      
Restatement Adjustments [Member] | Restatement Adjustment on Stock Based Payments [Member]        
Shareholders' equity:        
Additional paid in capital 13,894,620      
Accumulated deficit (13,894,620)      
Restatement Adjustments [Member] | Restatement Adjustment on Equity Issuance Costs [Member]        
Shareholders' equity:        
Additional paid in capital 7,420,492      
Accumulated deficit (7,420,492)      
Restatement Adjustments [Member] | Restatement Adjustment on convertible notes [Member]        
Shareholders' equity:        
Additional paid in capital 6,024,240      
Accumulated deficit (6,024,240)      
Restatement Adjustments [Member] | Restatement Adjustment on Warrants [Member]        
Shareholders' equity:        
Additional paid in capital 1,298,336      
Accumulated deficit (1,298,336)      
Restatement Adjustments [Member] | Restatement Adjustment on acquisition [Member]        
Shareholders' equity:        
Additional paid in capital 5,225,000      
Accumulated deficit (5,225,000)      
Restatement Adjustments [Member] | Restatement Adjustment Other [Member]        
Other assets:        
Deferred income tax asset (4,046,430)      
TOTAL ASSETS (3,841,535)      
Current liabilities:        
Accrued liabilities 34,778      
Total Current Liabilities 34,778      
Long-term liabilities:        
Income tax payable 1,609,520      
Total Liabilities 1,644,298      
Shareholders' equity:        
Additional paid in capital 653,000      
Accumulated deficit (6,138,833)      
Total Shareholders’ Equity (5,485,833)      
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (3,841,535)      
Restatement Adjustments [Member] | Restatement Adjustment Other [Member] | Patents [Member]        
Other assets:        
Intangible assets, net $ 204,895