v2.4.0.8
Condensed Consolidated Balance Sheets(USD ($))
Jun. 30, 2013
Mar. 31, 2013
ASSETS:    
Cash and cash equivalents $ 288,416 $ 439,323
Accounts receivable - net of allowance for doubtful accounts of $81,272 and $70,692, respectively 6,648,990 7,025,358
Due from shareholders and affiliates 375,071 303,226
Inventories- net of allowance for obsolete and slow moving inventory of $425,287 and $461,660, respectively 14,373,684 13,731,962
Prepaid expenses and other current assets 1,328,381 983,834
Total Current Assets 23,014,542 22,483,703
Equipment - net 505,471 516,641
Investment in non-consolidated affiliate, at equity 112,679 116,700
Intangible assets - net of accumulated amortization of $5,567,709 and $5,404,000, respectively 8,669,185 8,805,913
Goodwill 496,226 490,286
Restricted cash 456,405 451,346
Other assets 237,631 252,506
Total Assets 33,492,139 33,117,095
LIABILITIES AND EQUITY:    
Foreign revolving credit facility 0 89,407
Accounts payable 5,870,842 5,301,524
Accrued expenses 797,382 793,243
Due to shareholders and affiliates 2,777,077 2,351,957
Total Current Liabilities 9,445,301 8,536,131
Long-Term Liabilities    
Keltic facility 6,482,065 6,501,321
Bourbon term loan (including $600,000 of related party participation at each of June 30 and March 31, 2013) 2,496,000 2,496,000
Notes payable - GCP Note 214,225 211,580
Warrant liability 1,242,625 795,374
Deferred tax liability 1,629,418 1,666,456
Total Liabilities 21,509,634 20,206,862
Commitments and Contingencies (Note 13)      
Equity    
Preferred stock, $.01 par value, 25,000,000 shares authorized, 6,434 and 6,701 shares of series A convertible preferred stock issued and outstanding at June 30 and March 31, 2013, respectively (liquidation value of $7,799,638 and $7,876,530 at June 30 and March 31, 2013, respectively) 64,344 67,013
Common stock, $.01 par value, 225,000,000 shares authorized, 109,822,526 and 108,773,034 shares issued and outstanding at June 30 and March 31, 2013, respectively 1,098,225 1,087,730
Additional paid-in capital 142,917,897 142,661,542
Accumulated deficit (131,755,104) (130,270,623)
Accumulated other comprehensive loss (1,877,894) (1,918,094)
Total controlling shareholders’ equity 10,447,468 11,627,568
Noncontrolling interests 1,535,037 1,282,665
Total equity 11,982,505 12,910,233
Total Liabilities and Equity $ 33,492,139 $ 33,117,095