v3.6.0.2
Condensed Consolidated Balance Sheets
Dec. 31, 2016
USD ($)
Mar. 31, 2016
USD ($)
Current Assets    
Cash and cash equivalents $ 937,750 $ 1,430,532
Accounts receivable — net of allowance for doubtful accounts of $268,815 and $245,238 at December 31 and March 31, 2016, respectively 10,988,112 10,410,571
Due from shareholders and affiliates 4,221 3,279
Inventories— net of allowance for obsolete and slow moving inventory of $391,596 and $331,008 at December 31 and March 31, 2016, respectively 30,943,596 27,233,322
Prepaid expenses and other current assets 1,919,733 1,611,797
Total Current Assets 44,793,412 40,689,501
Equipment — net 940,841 876,255
Intangible assets — net of accumulated amortization of $7,869,704 and $7,372,585 at December 31 and March 31, 2016, respectively 6,560,557 7,048,302
Goodwill 496,226 496,226
Investment in non-consolidated affiliate, at equity 568,349 518,667
Restricted cash 326,296 345,076
Other assets 100,166 129,486
Total Assets 53,785,847 50,103,513
Current Liabilities    
Accounts payable 8,128,293 5,652,260
Accrued expenses 2,862,983 4,352,170
Due to shareholders and affiliates 1,309,806 1,338,072
Total Current Liabilities 12,301,082 11,342,502
Long-Term Liabilities    
Credit facility, net (including $423,161 and $312,813 of related-party participation at December 31 and March 31, 2016, respectively) 13,849,629 11,917,694
Notes payable - 5% Convertible notes (including $1,100,000 of related party participation at December 31 and March 31, 2016) 1,675,000 1,675,000
Notes payable - GCP Note 219,514 211,580
Deferred tax liability 977,563 1,204,000
Total Liabilities 29,022,788 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 December 31 and March 31, 2016 0 0
Common stock, $.01 par value, 300,000,000 shares authorized at December 31 and March 31, 2016, 160,970,167 and 160,474,777 shares issued and outstanding at December 31 and March 31, 2016, respectively 1,609,702 1,604,748
Additional paid-in capital 168,206,656 166,866,671
Accumulated deficit (146,922,042) (145,878,079)
Accumulated other comprehensive loss (2,335,218) (2,193,794)
Total controlling shareholders’ equity 20,559,098 20,399,546
Noncontrolling interests 4,203,961 3,353,191
Total Equity 24,763,059 23,752,737
Total Liabilities and Equity $ 53,785,847 $ 50,103,513