• Filing Date: 2018-08-20
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2018
Mar. 31, 2018
ASSETS    
Cash and cash equivalents $ 1,558,624 $ 1,693,532
Accounts receivable, net of allowance for doubtful accounts of $125,000 1,253,142 1,207,493
Inventories 288,783 201,023
Prepaid expenses and other current assets 24,397 8,522
Total current assets 3,124,946 3,110,570
Property and equipment, net of accumulated depreciation of $79,909 and $70,440, at June 30, 2018 and March 31, 2018, respectively 123,651 133,120
Inventories - long-term portion 111,051 111,051
Intangible assets, net of accumulated amortization of $10,988 and $10,639, at June 30, 2018 and March 31, 2018, respectively 9,946 10,295
Other assets 91,164 91,464
Deferred tax asset 1,095,634 1,095,634
Total other assets 1,431,446 1,441,564
Total assets 4,556,392 4,552,134
Current liabilities:    
Capital lease payable 31,196 31,196
Line of credit 35,000
Accounts payable 258,545 286,964
Accrued expenses and other current liabilities 125,518 149,382
Customer deposits 122,167 122,167
Due to stockholder 137,522 130,551
Total current liabilities 709,948 720,260
Long-term liabilities    
Capital lease payable, net of current portion 46,590 54,637
Total liabilities 756,538 774,897
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, 67,588,504 shares issued and outstanding 33,794 33,794
Additional paid-in capital 33,294,069 33,294,069
Accumulated deficit (29,528,009) (29,550,626)
Total stockholders' equity 3,799,854 3,777,237
Total liabilities and stockholders' equity $ 4,556,392 $ 4,552,134