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v3.20.4

Restatement of Previously Issued Condensed Consolidated Financial Statements (Tables) | 9 Months Ended
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Dec. 31, 2020
Accounting Changes and Error Corrections [Abstract] |
Summary of Restatement of Condensed Consolidated Financial Statements | The tables below set forth the condensed consolidated statements of operations, including the balances as originally reported, adjustments and the as restated balances for each of the periods affected:
|  | For the Three Months Ended |
|  | As Reported |  |  |  |  |  | As Restated |
|  | December 31, 2019 |  |  | Adjustment |  |  | December 31, 2019 |
Net Sales |  | $ | 15,519,516 |  |  | $ | (1,661,940 | ) |  | $ | 13,857,576 |
Cost of Goods Sold |  |  | 11,486,520 |  |  |  | - |  |  |  | 11,486,520 |
Gross Profit |  |  | 4,032,996 |  |  |  | (1,661,940 | ) |  |  | 2,371,056 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |
Selling expenses |  |  | 3,402,717 |  |  |  | (1,661,940 | ) |  |  | 1,740,777 |
General and administrative expenses |  |  | 1,442,192 |  |  |  | - |  |  |  | 1,442,192 |
Depreciation |  |  | 77,161 |  |  |  | - |  |  |  | 77,161 |
Total Operating Expenses |  |  | 4,922,070 |  |  |  | (1,661,940 | ) |  |  | 3,260,130 |
Loss from Operations |  |  | (889,074 | ) |  |  | - |  |  |  | (889,074 | )
Other Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | (105,583 | ) |  |  | - |  |  |  | (105,583 | )
Finance Costs |  |  | (3,334 | ) |  |  | - |  |  |  | (3,334 | )
Total Other Expenses |  |  | (108,917 | ) |  |  | - |  |  |  | (108,917 | )
Loss Before Income Tax Benefit |  |  | (997,991 | ) |  |  | - |  |  |  | (997,991 | )
Income Tax Benefit |  |  | 240,042 |  |  |  | - |  |  |  | 240,042 |
Net Loss |  | $ | (757,949 | ) |  | $ | - |  |  | $ | (757,949 | )
|  | For the Nine Months Ended |
|  | As Reported |  |  |  |  |  | As Restated |
|  | December 31, 2019 |  |  | Adjustment |  |  | December 31, 2019 |
Net Sales |  | $ | 40,410,398 |  |  | $ | (2,858,069 | ) |  | $ | 37,552,329 |
Cost of Goods Sold |  |  | 29,747,376 |  |  |  | - |  |  |  | 29,747,376 |
Gross Profit |  |  | 10,663,022 |  |  |  | (2,858,069 | ) |  |  | 7,804,953 |
Operating Expenses |  |  |  |  |  |  |  |  |  |  |  |
Selling expenses |  |  | 6,550,139 |  |  |  | (2,858,069 | ) |  |  | 3,692,070 |
General and administrative expenses |  |  | 5,048,517 |  |  |  | - |  |  |  | 5,048,517 |
Depreciation |  |  | 196,210 |  |  |  | - |  |  |  | 196,210 |
Total Operating Expenses |  |  | 11,794,866 |  |  |  | (2,858,069 | ) |  |  | 8,936,797 |
Loss from Operations |  |  | (1,131,844 | ) |  |  | - |  |  |  | (1,131,844 | )
Other Expenses |  |  |  |  |  |  |  |  |  |  |  |
Interest Expense |  |  | (156,097 | ) |  |  | - |  |  |  | (156,097 | )
Finance Costs |  |  | (10,000 | ) |  |  | - |  |  |  | (10,000 | )
Total Other Expenses |  |  | (166,097 | ) |  |  | - |  |  |  | (166,097 | )
Loss Before Income Tax Benefit |  |  | (1,297,941 | ) |  |  | - |  |  |  | (1,297,941 | )
Income Tax Benefit |  |  | 294,633 |  |  |  | - |  |  |  | 294,633 |
Net Loss |  | $ | (1,003,308 | ) |  | $ | - |  |  | $ | (1,003,308 | )

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