Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

v3.3.1.900
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2015
Mar. 31, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 19,281,501 $ 14,144,796
Accounts receivable, net 6,515,543 9,462,378
Inventories 10,840,598 11,766,535
Income tax receivable 113,978  
Prepaid expenses & other current assets 312,547 112,741
Total Current Assets 37,064,167 35,486,450
LONG-TERM ASSETS    
Deferred tax asset 669,895 501,921
PROPERTY AND EQUIPMENT, net 8,449,492 9,275,965
OTHER ASSETS    
Goodwill 997,701 997,701
Intangible assets, net of accumulated amortization 501,490 594,019
Total Other Assets 1,499,191 1,591,720
TOTAL ASSETS 47,682,745 46,856,056
CURRENT LIABILITIES    
Accounts payable 1,379,019 1,040,530
Accrued liabilities 594,236 332,229
Income taxes payable 396,089 347,486
Total current liabilities 2,369,344 1,720,245
LONG-TERM LIABILITIES    
Deferred income tax liability 616,735 631,353
TOTAL LIABILITIES $ 2,986,079 $ 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 and 53,199,136 shares issued and outstanding, respectively $ 53,255 $ 53,199
Additional paid-in capital 26,152,201 25,525,052
Accumulated other comprehensive income (loss) (3,122,872) (1,888,981)
Retained earnings 21,614,082 20,815,188
Total Stockholders' Equity 44,696,666 44,504,458
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 47,682,745 $ 46,856,056