• Filing Date: 2017-02-21
  • Form Type: 10-Q
  • Description: Quarterly report
v3.6.0.2
Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Net revenues $ 1,156,512 $ 1,045,388 $ 3,914,281 $ 3,354,197
Cost of sales 599,607 375,745 1,695,765 1,172,298
Gross Profit 556,905 669,643 2,218,516 2,181,899
Operating expenses:        
Research and development 113,752 46,292 151,548 101,503
Selling, general and administrative 433,712 385,226 1,105,081 1,155,637
Stock based compensation 46,400 46,400 598,699
Depreciation and amortization 2,951 555 5,890 1,861
Total operating expenses 596,815 432,073 1,308,919 1,857,700
Income (loss) from operations (39,910) 237,570 909,597 324,199
Other income (expense):        
Interest income 835 88 2,295 657
Interest expense (3,546) (583) (4,389) (2,054)
Total other income (expense) (2,711) (495) (2,094) (1,397)
Income (loss) before benefit for income taxes - deferred (42,621) 237,075 907,503 322,802
Benefit for income taxes - deferred 857,000
Net income $ (42,621) $ 237,075 $ 907,503 $ 1,179,802
Basic and diluted earnings per common share: (in dollars per share) $ 0 $ 0 $ 0.01 $ 0.02
Weighted average shares of common stock outstanding - basic (in shares) 67,216,545 67,008,502 67,078,102 66,045,493
Weighted average shares of common stock outstanding - diluted (in shares) 67,216,545 67,537,914 67,078,102 66,574,905