v3.6.0.2
Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (193,193) $ (2,128,112)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 758,507 696,575
Provision for doubtful accounts 34,650 52,000
Amortization of deferred financing costs 124,650 138,031
Deferred income tax expense, net (226,437) (92,114)
Net income from equity investment in non-consolidated affiliate (49,682) (9,013)
Effect of changes in foreign exchange (145,208) 131,213
Stock-based compensation expense 1,172,008 1,036,412
Addition to provision for obsolete inventory 150,000 100,000
Changes in operations, assets and liabilities:    
Accounts receivable (621,122) 1,702,199
Due from affiliates (942) 138,750
Inventory (3,827,236) (6,140,728)
Prepaid expenses and supplies (312,315) (183,176)
Other assets (50,273) (86,667)
Accounts payable and accrued expenses 1,004,720 4,514,429
Accrued interest 7,934 7,934
Due to shareholders and affiliates (28,263) 118,294
Total adjustments (2,009,009) 2,124,139
NET CASH USED IN OPERATING ACTIVITIES (2,202,202) (3,973)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of equipment (320,331) (299,594)
Acquisition of intangible assets (9,375) (23,885)
Investment in non-consolidated affiliate, at equity 0 (500,000)
Change in restricted cash (7,102) (208)
NET CASH USED IN INVESTING ACTIVITIES (336,808) (823,687)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net proceeds from credit facility 1,886,878 (478,517)
Payments on Bourbon term loan 0 (744,900)
Net payments on foreign revolving credit facility 0 (34,757)
Proceeds from issuance of common stock 0 3,251,989
Payments for costs of stock issuance (14,355) (95,344)
Subsidiary dividend paid to non-controlling interests 0 (600,000)
Proceeds from exercise of common stock options 187,286 243,094
NET CASH PROVIDED BY FINANCING ACTIVITIES 2,059,809 1,541,565
EFFECTS OF FOREIGN CURRENCY TRANSLATION (13,581) (9,311)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (492,782) 704,594
CASH AND CASH EQUIVALENTS — BEGINNING 1,430,532 1,191,603
CASH AND CASH EQUIVALENTS — ENDING 937,750 1,896,197
Schedule of non-cash investing and financing activities:    
Surrender of common stock in connection with exercise of common stock warrant 0 31,250
Conversion of 5% convertible note to common stock 0 451,417
Interest paid 847,235 652,262
Income taxes paid $ 1,553,377 $ 1,079,387