v3.2.0.727
Condensed Consolidated Balance Sheets
Jun. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
Current Assets    
Cash and cash equivalents $ 2,307,788 $ 1,191,603
Accounts receivable — net of allowance for doubtful accounts of $191,108 and $154,434 at June 30 and March 31, 2015, respectively 9,529,114 10,550,990
Due from shareholders and affiliates 0 138,750
Inventories— net of allowance for obsolete and slow moving inventory of $329,384 and $266,473 at June 30 and March 31, 2015, respectively 19,967,481 21,068,241
Deferred tax asset 54,000 37,000
Prepaid expenses and other current assets 1,600,643 1,492,806
Total Current Assets 33,459,026 34,479,390
Equipment — net 715,574 665,373
Intangible assets — net of accumulated amortization of $6,877,800 and $6,713,774 at June 30 and March 31, 2015, respectively 7,536,340 7,683,227
Goodwill 496,226 496,226
Investment in non-consolidated affiliate, at equity 500,000 0
Restricted cash 336,981 329,471
Other assets 347,274 385,253
Total Assets 43,391,421 44,038,940
Current Liabilities    
Foreign revolving credit facility 0 34,141
Accounts payable 5,369,164 5,753,617
Accrued expenses 1,577,583 1,067,460
Due to shareholders and affiliates 1,835,168 1,963,883
Total Current Liabilities 8,781,915 8,819,101
Long-Term Liabilities    
Credit facility 7,643,627 10,123,544
Bourbon term loan (including $179,063 of related-party participation at March 31, 2015) 0 744,900
Notes payable - 5% Convertible notes (including $1,100,000 of related party participation at June 30 and March 31, 2015) 1,675,000 1,675,000
Notes payable - GCP Note 214,225 211,580
Deferred tax liability 1,333,114 1,370,152
Total Liabilities $ 19,647,881 $ 22,944,277
Commitments and Contingencies (Note 12)    
Equity    
Preferred stock, $.01 par value, 25,000,000 shares authorized, no shares issued and outstanding at June 30 and March 31, 2015 $ 0 $ 0
Common stock, $.01 par value, 300,000,000 shares authorized at June 30 and March 31, 2015, 159,356,940 and 157,187,658 shares issued and outstanding at June 30 and March 31, 2015, respectively 1,593,570 1,571,877
Additional paid-in capital 166,057,219 162,626,893
Accumulated deficit (144,485,373) (143,361,711)
Accumulated other comprehensive loss (2,238,923) (2,285,925)
Total controlling shareholders’ equity 20,926,493 18,551,134
Noncontrolling interests 2,817,047 2,543,529
Total equity 23,743,540 21,094,663
Total Liabilities and Equity $ 43,391,421 $ 44,038,940