• Filing Date: 2018-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Dec. 31, 2017
Mar. 31, 2017
ASSETS    
Cash and cash equivalents $ 1,624,338 $ 1,982,276
Accounts receivable, net of allowance for doubtful accounts of $25,000 1,493,375 862,619
Inventories 500,946 369,796
Prepaid expenses and other current assets 16,533 35,752
Total current assets 3,635,192 3,250,443
Property and equipment, net of accumulated depreciation of $60,970 and $32,562, at December 31, 2017 and and March 31, 2017, respectively 142,590 170,998
Inventories - long-term portion 56,611 56,611
Intangible assets, net of accumulated amortization of $10,290 and $9,244, at December 31, 2017 and and March 31, 2017, respectively 10,643 11,690
Other assets 91,814 104,907
Deferred tax asset 537,000 926,000
Total other assets 838,658 1,270,206
Total assets 4,473,850 4,520,649
LIABILITIES AND STOCKHOLDERS' EQUITY    
Capital lease payable 31,196 30,895
Accounts payable 308,370 269,007
Accrued expenses and other current liabilities 137,782 148,731
Customer deposits 125,142 125,142
Due to stockholder 130,551 195,562
Total current liabilities 733,041 769,337
Capital lease payable, net of current portion 62,684 83,812
Total liabilities 795,725 853,149
Stockholders' equity:    
Preferred stock, $.01 par value; 5,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.0005 par value; 150,000,000 shares authorized, 67,588,492 shares issued and outstanding 33,794 33,794
Additional paid-in capital 33,294,069 33,294,069
Accumulated deficit (29,649,738) (29,660,363)
Total stockholders' equity 3,678,125 3,667,500
Total liabilities and stockholders' equity $ 4,473,850 $ 4,520,649