v3.7.0.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2017
Mar. 31, 2016
Current Assets    
Cash and cash equivalents $ 611,048 $ 1,430,532
Accounts receivable - net of allowance for doubtful accounts of $302,275 and $245,238 at March 31,2017 and 2016, respectively 11,460,432 10,410,571
Due from shareholders and affiliates 3,279
Inventories - net of allowance for obsolete and slow moving inventory of $312,711 and $331,008 at March 31, 2017 and 2016, respectively 29,801,080 25,740,192
Prepaid expenses and other current assets 3,674,923 1,611,797
Total Current Assets 45,547,483 39,196,371
Equipment - net 909,780 876,255
Intangible assets - net of accumulated amortization of $8,035,018 and $7,372,585 at March 31, 2017 and 2016, respectively 6,387,330 7,048,302
Goodwill 496,226 496,226
Investment in non-consolidated affiliate, at equity 570,097 518,667
Restricted cash 331,455 345,076
Other assets 99,773 129,486
Total Assets 54,342,144 48,610,383
Current Liabilities    
Accounts payable 7,549,942 5,652,260
Accrued expenses 4,668,708 4,352,170
Due to shareholders and affiliates 2,158,318 1,338,072
Total Current Liabilities 14,376,968 11,342,502
Long-Term Liabilities    
Credit facility, net (including $412,269 and $312,813 of related-party participation at March 31, 2017 and 2016, respectively) 13,033,075 11,917,694
Note payable - 11% Subordinated note 20,000,000
Notes payable - 5% Convertible notes (including $1,100,000 of related party participation at March 31, 2017 and 2016) 1,675,000 1,675,000
Notes payable - GCP Note 211,580 211,580
Deferred tax liability 558,766 1,204,000
Other 20,666
Total Liabilities 49,876,055 26,350,776
Commitments and Contingencies (Note 11)
Equity    
Preferred stock, $.01 par value, 25,000,000 shares authorized, no shares issued and outstanding at March 31, 2017 and 2016
Common stock, $.01 par value, 300,000,000 shares authorized at March 31, 2017 and 2016, 162,945,805 and 160,474,777 shares issued and outstanding at March 31, 2017 and 2016, respectively 1,629,458 1,604,748
Additional paid-in capital 150,889,613 166,866,671
Accumulated deficit (148,223,822) (147,371,209)
Accumulated other comprehensive loss (2,308,672) (2,193,794)
Total controlling shareholders' equity 1,986,577 18,906,416
Noncontrolling interests 2,479,512 3,353,191
Total Equity 4,466,089 22,259,607
Total Liabilities and Equity $ 54,342,144 $ 48,610,383