v2.4.0.6
Condensed Consolidated Balance Sheets(USD ($))
Dec. 31, 2012
Mar. 31, 2012
ASSETS:    
Cash and cash equivalents $ 231,072 $ 484,362
Accounts receivable - net of allowance for doubtful accounts of $379,593 and $411,272, respectively 6,982,157 6,268,432
Due from shareholders and affiliates 544,350 122,640
Inventories - net of allowance for obsolete and slow moving inventory of $100,263 and $290,316, respectively 11,338,354 10,732,698
Prepaid expenses and other current assets 926,119 784,331
Total Current Assets 20,022,052 18,392,463
Equipment - net 564,352 620,840
Investment in non-consolidated affiliate, at equity 118,441 130,850
Intangible assets - net of accumulated amortization of $5,457,133 and $4,906,061, respectively 9,804,780 10,302,288
Goodwill 1,366,718 1,243,058
Restricted cash 457,701 468,275
Other assets 183,749 197,003
Total Assets 32,517,793 31,354,777
LIABILITIES AND EQUITY:    
Foreign revolving credit facility 91,662 0
Accounts payable 4,433,362 4,771,140
Accrued expenses 1,054,897 442,618
Due to shareholders and affiliates 2,143,046 1,584,270
Total Current Liabilities 7,722,967 6,798,028
Long-Term Liabilities    
Keltic facility 6,139,826 3,849,831
Notes payable - GCP Note 219,514 211,580
Warrant liability 451,726 684,690
Deferred tax liability 1,703,494 1,814,608
Total Liabilities 16,237,527 13,358,737
Commitments and Contingencies (Note 13)     
Equity    
Preferred stock, $.01 par value, 25,000,000 shares authorized, 6,751 and 6,897 shares of series A convertible preferred stock issued and outstanding at December 31 and March 31, 2012, respectively (liquidation value of $7,734,641 and $7,327,262 at December 31 and March 31, 2012, respectively) 67,514 68,965
Common stock, $.01 par value, 225,000,000 shares authorized, 108,579,046 and 108,052,067 shares issued and outstanding at December 31 and March 31, 2012, respectively 1,085,790 1,080,520
Additional paid-in capital 142,818,163 142,052,646
Accumulated deficit (126,962,701) (124,076,608)
Accumulated other comprehensive loss (1,833,793) (1,801,656)
Total controlling shareholders' equity 15,174,973 17,323,867
Noncontrolling interests 1,105,293 672,173
Total equity 16,280,266 17,996,040
Total Liabilities and Equity $ 32,517,793 $ 31,354,777