XML 35 R25.htm IDEA: XBRL DOCUMENT
v3.21.2

BUSINESS COMBINATION (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2021
BUSINESS COMBINATION |
Schedule of assets acquired and liabilities assumed recognized at aquisition date | ​
​ | ​ | ​ | ​
Total consideration transferred | ​ | $ | 10,163,164
Recognized amounts of identifiable assets acquired and liabilities assumed: | ​ |  |
Accounts receivable | ​ | $ | 1,247,015
Inventory and other current assets | ​ |  | 5,250,781
Property, plant and equipment including right of use assets | ​ |  | 15,074,273
Accounts payable, accrued expenses, and other current liabilities | ​ |  | (5,882,048)
Lease obligations | ​ |  | (6,701,286)
Net assets | ​ | $ | 8,988,735
Goodwill | ​ |  | 1,174,429
Total | ​ | $ | 10,163,164
Schedule of pro forma results | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Stadco only | ​ | Pro forma combined
​ | ​ | Actual August 26, 2021 | ​ | Three months ended | ​ | Six months ended | ​ | Three months ended | ​ | Six months ended
​ | ​ | – September 30, | ​ | September 30, | ​ | September 30, | ​ | September 30, | ​ | September 30,
​ |  | 2021 |  | 2021 |  | 2021 |  | 2020 |  | 2020
Net sales | ​ | $ | 1,258,626 | ​ | $ | 5,094,151 | ​ | $ | 12,929,679 | ​ | $ | 8,196,026 | ​ | $ | 14,961,345
Operating income (loss) | ​ | $ | 64,809 | ​ | $ | (1,579,777) | ​ | $ | (1,936,097) | ​ | $ | 350,441 | ​ | $ | 182,568
Income (loss) before income taxes | ​ | $ | 22,113 | ​ | $ | (1,832,508) | ​ | $ | (954,261) | ​ | $ | 199,520 | ​ | $ | (139,609)
Net income (loss) | ​ | ​ | ​ | ​ | $ | (1,753,993) | ​ | $ | (903,274) | ​ | $ | 86,458 | ​ | $ | (215,311)
EPS basic | ​ | ​ | ​ | ​ | $ | (0.05) | ​ | $ | (0.03) | ​ | $ | 0.00 | ​ | $ | (0.01)
EPS dilutive | ​ | ​ | ​ | ​ | $ | (0.05) | ​ | $ | (0.03) | ​ | $ | 0.00 | ​ | $ | (0.01)
Weighted average shares outstanding – basic | ​ | ​ | ​ | ​ | ​ | 34,181,736 | ​ | ​ | 34,174,554 | ​ | ​ | 34,100,059 | ​ | ​ | 34,064,579
Weighted average shares outstanding - diluted | ​ | ​ | ​ | ​ | ​ | 34,181,736 | ​ | ​ | 34,174,554 | ​ | ​ | 35,638,754 | ​ | ​ | 34,064,579

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration