v2.4.0.6
Condensed Consolidated Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Sales, net* $ 10,606,669 [1] $ 8,709,204 [1] $ 30,643,833 [1] $ 25,501,542 [1]
Cost of sales* 6,748,049 [1] 5,499,113 [1] 19,629,713 [1] 16,252,323 [1]
Provision for obsolete inventory 20,825 0 120,825 0
Gross profit 3,837,795 3,210,091 10,893,295 9,249,219
Selling expense 2,886,256 2,495,172 8,280,114 7,758,352
General and administrative expense 1,162,543 1,279,387 3,650,749 3,733,500
Depreciation and amortization 230,579 228,764 691,518 682,720
Loss from operations (441,583) (793,232) (1,729,086) (2,925,353)
Other expense   0 (16) 0
(Loss) gain from equity investment in non-consolidated affiliate (7,981) 787 (18,708) (16,562)
Foreign exchange loss (68,650) (275,029) (90,822) (513,491)
Interest expense, net (157,510) (131,708) (405,345) (485,980)
Net change in fair value of warrant liability 161,685 (91,412) 232,964 93,613
Income tax benefit 37,038 37,038 111,114 111,114
Net loss (477,001) (1,253,556) (1,899,899) (3,736,659)
Net income attributable to noncontrolling interests (125,222) 19,294 (433,120) (185,285)
Net loss attributable to controlling interests (602,223) (1,234,262) (2,333,019) (3,921,944)
Dividend to preferred shareholders (188,429) (148,848) (552,579) (528,235)
Net loss attributable to common shareholders $ (790,652) $ (1,383,110) $ (2,885,598) $ (4,450,179)
Net loss per common share, basic and diluted, attributable to common shareholders (in dollars per share) $ (0.01) $ (0.01) $ (0.03) $ (0.04)
Weighted average shares used in computation, basic and diluted, attributable to common shareholders (in shares) 108,540,805 107,835,859 108,475,032 107,497,741
[1] Sales, net and Cost of sales include excise taxes of $1,483,570 and $1,227,204 for the three months ended December 31, 2012 and 2011, respectively, and $4,397,990 and $3,940,702 for the nine months ended December 31, 2012 and 2011, respectively