• Filing Date: 2016-11-17
  • Form Type: 10-Q
  • Description: Quarterly report
v3.5.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Net revenues $ 1,380,338 $ 1,252,881 $ 2,757,769 $ 2,308,809
Cost of sales 636,231 495,680 1,096,158 796,553
Gross Profit 744,107 757,201 1,661,611 1,512,256
Operating expenses:        
Research and development 17,395 30,522 37,796 55,211
Selling, general and administrative 296,762 475,186 671,369 770,411
Stock based compensation 598,699 598,699
Depreciation and amortization 1,487 709 2,939 1,306
Total operating expenses 315,644 1,105,116 712,104 1,425,627
Income (loss) from operations 428,463 (347,915) 949,507 86,629
Other income (expense):        
Interest income 762 248 1,460 569
Interest expense (331) (830) (843) (1,471)
Total other income (expense) 431 (582) 617 (902)
Income (loss) before provision for income taxes 428,894 (348,497) 950,124 85,727
Benefit for income taxes - deferred 857,000 857,000
Net income $ 428,894 $ 508,503 $ 950,124 $ 942,727
Basic and diluted per common share: (in dollars per share) $ 0.01 $ 0.01 $ 0.01 $ 0.01
Weighted average shares of common stock outstanding - basic (in shares) 67,008,502 66,176,418 67,008,502 65,561,357
Weighted average shares of common stock outstanding - diluted (in shares) 67,008,502 66,994,600 67,008,502 66,379,539