Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (LOSS) - USD ($)
3 Months Ended
Jun. 30, 2016
Jun. 30, 2015
REVENUES    
Sales of goods, net $ 3,462,893 $ 6,211,970
Sales of services, net 511,150 665,273
Total Revenues 3,974,043 6,877,243
COST OF SALES    
Cost of goods sold-product 1,712,643 2,967,918
Cost of goods sold-services 347,150 595,538
Total Cost of Goods Sold 2,059,793 3,563,456
GROSS PROFIT 1,914,250 3,313,787
OPERATING EXPENSES    
General and administrative expenses 2,385,567 3,441,140
Research and development 250,722 304,489
Depreciation and amortization expense 159,239 107,455
Total Operating Expenses 2,795,528 3,853,084
INCOME (LOSS) FROM OPERATIONS (881,278) (539,297)
OTHER INCOME (EXPENSE)    
Gain (Loss) on sale of fixed assets (2,592) 18,637
Other (expense) income 4,756 (108,990)
Interest income 27,942 21,123
Total Other Income (Expense) 30,106 (69,230)
NET INCOME BEFORE INCOME TAXES (851,172) (608,527)
INCOME TAX EXPENSE (BENEFIT) (245,877) (149,714)
NET LOSS (605,295) (458,814)
FOREIGN CURRENCY TRANSLATION GAIN (LOSS) 773 333,372
TOTAL COMPREHENSIVE INCOME (LOSS) $ (604,522) $ (125,441)
BASIC EARNINGS PER SHARE $ (0.01) $ (0.01)
FULLY DILUTED EARNINGS PER SHARE $ (0.01) $ (0.01)
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING 53,256,333 53,214,594
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING 53,256,333 53,214,594