XML 56 R49.htm IDEA: XBRL DOCUMENT v3.25.1
SUMMARY OF EFFECT OF RESTATEMENT OF FINANCIAL STATEMENTS - UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW (Details) - USD ($)
 3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net Income (Loss) $ (14,759,975) $ (1,304,062)
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 4,704,377 4,631,908
Debt discount amortization 20,813 20,813
Employee stock awards 1,394,983 1,181,199
Common stock purchase options 41,055 0
Contingent consideration payable fair value (19,986) (21,024)
Allowance for doubtful accounts 87,689  
Reduction in right of use asset 174,529 120,216
Valuation allowance 7,182,561  
Deferred income taxes (2,775,070) (207,098)
Changes in Current Assets and Liabilities    
Accounts receivable 8,696,920 7,088,437
Due from related parties (4,800,000) 0
Inventories (9,154,375) (1,579,836)
Prepaid expenses 312,409 888,412
Deposits (976,528) 2,964,365
Accounts payable (477,844) (1,722,783)
Accrued liabilities 9,974,813 153,531
Operating lease liability (173,860) (127,704)
Net cash provided by/(used in) operating activities (547,489) 12,996,091
Cash flows from investing activities:    
Purchase of equipment (1,419,857) (1,313,939)
Net cash used in investing activities (1,419,857) (1,313,939)
Cash flow from financing activities:    
Payments on insurance premium note payment (721,842) (970,541)
Payments on construction note payable (42,816) (64,959)
Preferred stock dividends paid (638,021) (638,038)
Repurchase of common shares (366,164) 0
Common stock repurchase plan (1,095,682) (1,456,744)
Net cash used in financing activities (2,864,525) (3,311,132)
Net increase/(decrease) in cash (4,831,871) 8,371,020
Cash, beginning of period 55,586,441 39,134,027
Cash and restricted cash, end of period 50,754,570 $ 48,005,047
As Previously Reported [Member]    
Cash flows from operating activities:    
Net Income (Loss) (7,061,287)  
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 4,692,556  
Debt discount amortization 20,813  
Employee stock awards 674,949  
Common stock purchase options 41,055  
Contingent consideration payable fair value (19,986)  
Allowance for doubtful accounts 87,689  
Reduction in right of use asset 174,529  
Deferred income taxes (2,559,342)  
Changes in Current Assets and Liabilities    
Accounts receivable 8,696,920  
Due from related parties (4,800,000)  
Inventories (9,154,375)  
Prepaid expenses 312,409  
Deposits (976,528)  
Accounts payable (477,844)  
Accrued liabilities 9,974,813  
Operating lease liability (173,860)  
Net cash provided by/(used in) operating activities (547,489)  
Cash flows from investing activities:    
Purchase of equipment (1,419,857)  
Net cash used in investing activities (1,419,857)  
Cash flow from financing activities:    
Payments on insurance premium note payment (721,842)  
Payments on construction note payable (42,816)  
Preferred stock dividends paid (638,021)  
Repurchase of common shares (366,164)  
Common stock repurchase plan (1,095,682)  
Net cash used in financing activities (2,864,525)  
Net increase/(decrease) in cash (4,831,871)  
Cash, beginning of period 55,586,441  
Cash and restricted cash, end of period 50,754,570  
Restatement Adjustments [Member] | Restatement Adjustment on Stock Based Payments [Member]    
Cash flows from operating activities:    
Net Income (Loss) (720,034)  
Adjustments to reconcile net loss to net cash used in operations:    
Employee stock awards 720,034  
Restatement Adjustments [Member] | Restatement Adjustment Other [Member]    
Cash flows from operating activities:    
Net Income (Loss) (6,978,654)  
Adjustments to reconcile net loss to net cash used in operations:    
Depreciation and amortization 11,821  
Valuation allowance 7,182,561  
Deferred income taxes $ (215,728)