• Filing Date: 2014-08-14
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)
Jun. 30, 2014
Mar. 31, 2014
Current assets:    
Cash and cash equivalents $ 69,894 $ 83,156
Accounts receivable, net of allowance for doubtful accounts of $3,000 for each period 382,174 271,038
Inventories 157,981 94,692
Prepaid expenses and other current assets 34,461 10,623
Restricted cash 232,264 232,264
Total current assets 876,774 691,773
Property and equipment, net of accumulated depreciation of $72,087 and $70,942, respectively 5,229 6,374
Inventories - long-term portion 57,753 38,046
Secured convertible note receivable, including interest of $21,947 and $20,900, respectively 63,947 62,900
Intangible assets, net of accumulated amortization of $152,274 and $151,777, respectively 15,874 16,371
Other assets 15,764 14,764
Total other assets 158,567 138,455
Total assets 1,035,341 830,228
Current liabilities:    
Note payable - bank 132,990 136,990
Accounts payable 255,690 208,248
Accrued expenses and other current liabilities 623,520 497,677
Total current liabilities 1,012,200 842,915
Total liabilities 1,012,200 842,915
Stockholders' (deficiency) equity:    
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.0005 par value; 150,000,000 authorized, 64,939,537 shares issued and outstanding at June 30, 2014 and March 31, 2014, respectively 32,470 32,470
Additional paid-in capital 32,298,094 32,298,094
Accumulated deficit (32,307,423) (32,343,251)
Total stockholders' (deficiency) equity 23,141 (12,687)
Total liabilities and stockholders' (deficiency) equity $ 1,035,341 $ 830,228