Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2015
Mar. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 18,954,290 $ 14,144,796
Accounts receivable, net 6,706,532 9,462,378
Inventories 9,954,358 11,766,535
Income tax receivable 59,886  
Prepaid expenses & other current assets 395,385 112,741
Total Current Assets 36,070,451 35,486,450
LONG-TERM ASSETS    
Deferred tax asset 575,189 501,921
PROPERTY AND EQUIPMENT, net 8,697,175 9,275,965
OTHER ASSETS    
Goodwill 997,701 997,701
Intangible assets, net of accumulated amortization 525,527 594,019
Total Other Assets 1,523,228 1,591,720
TOTAL ASSETS 46,866,043 46,856,056
CURRENT LIABILITIES    
Accounts payable 909,115 1,040,530
Accrued liabilities 819,775 332,229
Income taxes payable 148,426 347,486
Total current liabilities 1,877,316 1,720,245
LONG-TERM LIABILITIES    
Deferred income tax liability 629,232 631,353
TOTAL LIABILITIES $ 2,506,548 $ 2,351,598
STOCKHOLDERS' EQUITY    
Preferred shares: $0.001 par value, 10,000,000 shares authorized: no shares issued and outstanding
Common shares: $0.001 par value, 100,000,000 shares authorized: 53,255,275 53,199,136 shares issued and outstanding, respectively $ 53,255 $ 53,199
Additional paid-in capital 25,811,085 25,525,050
Accumulated other comprehensive income (loss) (2,640,128) (1,888,981)
Retained earnings 21,135,283 20,815,188
Total Stockholders' Equity 44,359,495 44,504,457
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 46,866,043 $ 46,856,056