• Filing Date: 2018-02-14
  • Form Type: 10-Q
  • Description: Quarterly report
v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:    
Net income $ 10,625 $ 907,503
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 29,455 46,400
Stock based compensation 8,892
Deferred taxes 389,000
Changes in operating assets and liabilities balances:    
Accounts receivable (630,756) (712)
Inventories (131,150) (237,126)
Prepaid expenses and other current assets 32,312 (150,879)
Accounts payable 39,363 116,407
Accrued expenses and other current liabilities (10,949) (214,525)
Due to stockholder (65,011) 28,027
Net cash (used in) provided by operating activities (337,111) 503,987
Cash flows from investing activities:    
Purchase of property and equipment (8,070)
Restricted cash (224)
Net cash (used in) investing activities (8,294)
Cash flows (used in) financing activities:    
Repayments on notes payable (18,000)
Repayments on capital lease payable (20,827) (2,739)
Net cash (used in) financing activities (20,827) (20,739)
Net increase (decrease) in cash and cash equivalents (357,938) 474,954
Cash and cash equivalents - beginning of period 1,982,276 1,398,848
Cash and cash equivalents - end of period 1,624,338 1,873,802
Cash paid for:    
Interest 2,183 4,389
Non-cash investing activities    
Purchase of equipment with the assumption of capital lease obligation $ 128,807