v3.3.0.814
Condensed Consolidated Balance Sheets
Sep. 30, 2015
USD ($)
Mar. 31, 2015
USD ($)
Current Assets    
Cash and cash equivalents $ 1,739,240 $ 1,191,603
Accounts receivable — net of allowance for doubtful accounts of $241,873 and $154,434 at September 30 and March 31, 2015, respectively 10,247,809 10,550,990
Due from shareholders and affiliates 1,467 138,750
Inventories— net of allowance for obsolete and slow moving inventory of $327,576 and $266,473 at September 30 and March 31, 2015, respectively 23,590,442 21,068,241
Deferred tax asset 53,000 37,000
Prepaid expenses and other current assets 1,291,021 1,492,806
Total Current Assets 36,922,979 34,479,390
Equipment — net 750,364 665,373
Intangible assets — net of accumulated amortization of $7,041,990 and $6,713,774 at September 30 and March 31, 2015, respectively 7,372,150 7,683,227
Goodwill 496,226 496,226
Investment in non-consolidated affiliate, at equity 504,513 0
Restricted cash 341,568 329,471
Other assets 379,739 385,253
Total Assets 46,767,539 44,038,940
Current Liabilities    
Foreign revolving credit facility 0 34,141
Accounts payable 5,949,651 5,753,617
Accrued expenses 2,524,621 1,067,460
Due to shareholders and affiliates 1,471,918 1,963,883
Total Current Liabilities 9,946,190 8,819,101
Long-Term Liabilities    
Credit facility (including $315,000 of related-party participation at September 30, 2015) 10,507,618 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 September 30 and March 31, 2015) 1,675,000 1,675,000
Notes payable - GCP Note 216,869 211,580
Deferred tax liability 1,296,076 1,370,152
Total Liabilities $ 23,641,753 $ 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 September 30 and March 31, 2015 $ 0 $ 0
Common stock, $.01 par value, 300,000,000 shares authorized at September 30 and March 31, 2015, 160,008,164 and 157,187,658 shares issued and outstanding at September 30 and March 31, 2015, respectively 1,600,082 1,571,877
Additional paid-in capital 166,087,811 162,626,893
Accumulated deficit (145,496,644) (143,361,711)
Accumulated other comprehensive loss (2,211,724) (2,285,925)
Total controlling shareholders’ equity 19,979,525 18,551,134
Noncontrolling interests 3,146,261 2,543,529
Total Equity 23,125,786 21,094,663
Total Liabilities and Equity $ 46,767,539 $ 44,038,940