v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Mar. 31, 2017
Current Assets    
Cash and cash equivalents $ 433,234 $ 611,048
Accounts receivable - net of allowance for doubtful accounts of $286,859 and $302,275 at June 30 and March 31, 2017 12,163,360 11,460,432
Due from shareholders and affiliates 5,199
Inventories- net of allowance for obsolete and slow moving inventory of $351,713 and $312,711 at June 30 and March 31, 2017, respectively 30,758,422 29,801,080
Prepaid expenses and other current assets 3,954,052 3,674,923
Total Current Assets 47,314,267 45,547,483
Equipment - net 864,367 909,780
Intangible assets - net of accumulated amortization of $8,146,844 and $8,035,018 at June 30 and March 31, 2017, respectively 6,288,064 6,387,330
Goodwill 496,226 496,226
Investment in non-consolidated affiliate, at equity 611,846 570,097
Restricted cash 354,042 331,455
Other assets 87,377 99,773
Total Assets 56,016,189 54,342,144
Current Liabilities    
Foreign revolving credit facility 22,721
Accounts payable 9,150,736 7,549,942
Accrued expenses 3,925,727 4,668,708
Due to shareholders and affiliates 2,360,111 2,158,318
Total Current Liabilities 15,459,295 14,376,968
Long-Term Liabilities    
Credit facility, net (including $369,131 and $412,269 of related-party participation at June 30 and March 31, 2017, respectively) 13,776,701 13,033,075
Note payable - 11% Subordinated note 20,000,000 20,000,000
Notes payable - 5% Convertible notes (including $1,100,000 of related party participation at June 30 and March 31, 2017) 1,650,000 1,675,000
Notes payable - GCP Note 214,225 211,580
Deferred tax liability 559,101 558,766
Other 20,666 20,666
Total Liabilities 51,679,988 49,876,055
Commitments and Contingencies (Note 11)
Equity    
Preferred stock, $.01 par value, 25,000,000 shares authorized, no shares issued and outstanding at June 30 and March 31, 2017
Common stock, $.01 par value, 300,000,000 shares authorized at June 30 and March 31, 2017, 164,264,883 and 162,945,805 shares issued and outstanding at June 30 and March 31, 2017, respectively 1,642,649 1,629,458
Additional paid-in capital 151,507,637 150,889,613
Accumulated deficit (149,170,217) (148,223,822)
Accumulated other comprehensive loss (2,204,557) (2,308,672)
Total controlling shareholders' equity 1,775,512 1,986,577
Noncontrolling interests 2,560,689 2,479,512
Total Equity 4,336,201 4,466,089
Total Liabilities and Equity $ 56,016,189 $ 54,342,144