• Filing Date: 2019-02-19
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Net revenues $ 739,538 $ 1,021,042 $ 2,351,201 $ 3,098,536
Cost of sales 506,562 471,062 1,143,600 1,443,751
Gross Profit 232,976 549,980 1,207,601 1,654,785
Operating expenses:        
Research and development 115,202 109,167 331,785 398,351
Selling, general and administrative 337,696 357,038 992,187 1,092,083
Total operating expenses 452,898 466,205 1,323,972 1,490,434
Income (loss) from operations (219,922) 83,775 (116,371) 164,351
Other income (expense):        
Interest income 6,846 5,258 20,292 11,806
Interest and finance expenses (838) (728) (2,811) (2,183)
Total other income (expense) 6,008 4,530 17,481 9,623
Income (loss) before provision for income taxes (213,914) 88,305 (98,890) 173,974
Provision (benefit) for income taxes:        
Current (6,000) 1,000 5,000
Deferred (65,000) 235,000 (97,000) 389,000
Total provision (benefit) for income taxes (71,000) 236,000 (97,000) 394,000
Net (loss) $ (142,914) $ (147,695) $ (1,890) $ (220,026)
Basic and diluted earnings per common share: (in dollars per share) $ 0 $ 0 $ 0 $ 0
Weighted average shares of common stock outstanding - basic and diluted (in shares) 67,588,492 67,588,492 67,588,492 67,588,492