• Filing Date: 2018-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Net revenues $ 1,021,042 $ 1,156,512 $ 3,237,103 $ 3,914,281
Cost of sales 539,184 599,607 1,351,667 1,695,765
Gross profit 481,858 556,905 1,885,436 2,218,516
Operating expenses:        
Research and development 109,167 113,752 398,351 151,548
Selling, general and administrative 351,609 433,712 1,075,411 1,105,081
Stock based compensation 46,400 46,400
Depreciation and amortization 5,429 2,951 16,672 5,890
Total operating expenses 466,205 596,815 1,490,434 1,308,919
Income (loss) from operations 15,653 (39,910) 395,002 909,597
Other income (expense):        
Interest income 5,258 835 11,806 2,295
Interest and finance expenses (728) (3,546) (2,183) (4,389)
Total other income (expense) 4,530 (2,711) 9,623 (2,094)
Income (loss) before provision for income taxes 20,183 (42,621) 404,625 907,503
Provision for income taxes:        
Current 1,000 5,000
Deferred 235,000 389,000
Total provision for income taxes 236,000 394,000
Net (loss) income $ (215,817) $ (42,621) $ 10,625 $ 907,503
Basic and diluted earnings per common share: (in dollars per share) $ 0 $ 0 $ 0 $ 0.01
Weighted average shares of common stock outstanding - basic and diluted (in shares) 67,588,492 67,216,545 67,588,492 67,078,102