v3.8.0.1
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2017
Mar. 31, 2017
Current Assets    
Cash and cash equivalents $ 946,367 $ 611,048
Accounts receivable - net of allowance for doubtful accounts of $368,110 and $302,275 at December 31 and March 31, 2017, respectively 13,604,565 11,460,432
Due from shareholders and affiliates 2,173
Inventories - net of allowance for obsolete and slow moving inventory of $398,942 and $312,711 at December 31 and March 31, 2017, respectively 34,782,812 29,801,080
Prepaid expenses and other current assets 3,857,465 3,674,923
Total Current Assets 53,193,382 45,547,483
Equipment - net 886,262 909,780
Intangible assets - net of accumulated amortization of $8,370,986 and $8,035,018 at December 31 and March 31, 2017, respectively 6,075,965 6,387,330
Goodwill 496,226 496,226
Investment in non-consolidated affiliate, at equity 776,886 570,097
Restricted cash 371,719 331,455
Other assets 84,480 99,773
Total Assets 61,884,920 54,342,144
Current Liabilities    
Accounts payable 8,512,329 7,549,942
Accrued expenses 4,336,643 4,668,708
Due to shareholders and affiliates 1,827,182 2,158,318
Notes payable - 5% Convertible notes (including $700,000 of related party participation at December 31, 2017) 750,000
Total Current Liabilities 15,426,154 14,376,968
Long-Term Liabilities    
Credit facility, net (including $594,660 and $412,269 of related-party participation at December 31 and March 31, 2017, respectively) 18,396,349 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 March 31, 2017) 1,675,000
Notes payable - GCP Note 219,514 211,580
Deferred tax liability 476,867 558,766
Other 20,666 20,666
Total Liabilities 54,539,550 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 December 31 and March 31, 2017
Common stock, $.01 par value, 300,000,000 shares authorized at December 31 and March 31, 2017, 165,338,302 and 162,945,805 shares issued and outstanding at December 31 and March 31, 2017, respectively 1,653,383 1,629,458
Additional paid-in capital 153,482,929 150,889,613
Accumulated deficit (148,706,320) (148,223,822)
Accumulated other comprehensive loss (2,126,639) (2,308,672)
Total controlling shareholders' equity 4,303,353 1,986,577
Noncontrolling interests 3,042,017 2,479,512
Total Equity 7,345,370 4,466,089
Total Liabilities and Equity $ 61,884,920 $ 54,342,144