v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
 3 Months Ended
Jun. 30, 2015
Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (850,144) $ (1,190,495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 228,256 216,098
Provision for doubtful accounts 36,674 (92,165)
Amortization of deferred financing costs 43,459 48,050
Deferred income tax (benefit) expense, net (54,038) 162,962
Effect of changes in foreign exchange 49,219 236,447
Stock-based compensation expense 239,940 191,456
Provision for obsolete inventories 100,000 0
Changes in operations, assets and liabilities:    
Accounts receivable 987,973 1,780,782
Due from affiliates 138,750 (26,555)
Inventory 982,293 (5,150,717)
Prepaid expenses and supplies (107,240) (345,426)
Other assets (5,480) (5,813)
Accounts payable and accrued expenses 122,497 (1,101,226)
Accrued interest 2,645 2,645
Due to related parties (128,716) 57,438
Total adjustments 2,636,232 (4,026,024)
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES 1,786,088 (5,216,519)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (105,667) (76,660)
Acquisition of intangible assets (17,138) (5,000)
Investment in non-consolidated affiliate, at equity (500,000) 0
Change in restricted cash (92) (282)
NET CASH USED IN INVESTING ACTIVITIES (622,897) (81,942)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net (payments on) proceeds from credit facility (2,479,917) 3,461,388
Payments on Bourbon term loan (744,900) (261,300)
Net (payments on) proceeds from foreign revolving credit facility (34,795) 106,347
Proceeds from issuance of common stock 3,251,989 1,231,241
Payments for costs of stock issuance (65,160) (38,532)
Proceeds from exercise of common stock warrants 0 598,715
Proceeds from exercise of common stock options 25,250 76,707
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES (47,533) 5,174,566
EFFECTS OF FOREIGN CURRENCY TRANSLATION 527 (170)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,116,185 (124,065)
CASH AND CASH EQUIVALENTS — BEGINNING 1,191,603 908,501
CASH AND CASH EQUIVALENTS — ENDING 2,307,788 784,436
Schedule of non-cash investing and financing activities:    
Surrender of common stock in connection with exercise of common stock warrant 0 31,250
Interest paid 224,093 219,765
Income taxes paid $ 1,079,270 $ 35,000