• Filing Date: 2016-11-17
  • Form Type: 10-Q
  • Description: Quarterly report
v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Cash flows from operating activities:    
Net income $ 950,124 $ 942,727
Adjustments to reconcile net income to net cash provided in operating activities:    
Stock-based compensation 598,699
Depreciation and amortization 4,772 1,600
Deferred income tax (857,000)
Increase (decrease) in cash flows as a result of changes in net assets and liabilities balances:    
Accounts receivable (328,879) (184,743)
Inventories (118,604) (42,427)
Prepaid expenses and other current assets (750) (5,000)
Accounts payable (159,759) (90,538)
Accrued expenses and other current liabilities (82,368) 50,022
Due to shareholder 28,512 25,757
Net cash provided by operating activities 293,048 439,097
Cash flows from investing activities:    
Purchase of equipment (4,970)
Restricted cash (165) (349)
Net cash used by investing activities (5,135) (349)
Cash flows provided (used) in financing activities:    
Repayments on note payable - Bank (10,000) (13,000)
Sale of common stock 300,000
Net cash provided by (used) in financing activities (10,000) 287,000
Net increase in cash 277,913 725,748
Cash and cash equivalents - beginning of year 1,398,848 216,395
Cash and cash equivalents - end of year 1,676,761 942,143
Cash paid for:    
Interest $ 843 $ 1,471