v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Mar. 31, 2022
Current assets:    
Cash $ 3,436,366 $ 4,949,690
Accounts receivable, net 1,436,023 1,049,040
Inventories, net 2,934,247 2,820,497
Restricted cash to support appeal bond 2,011,050 2,011,050
Prepaid expenses and other current assets 333,522 244,040
Total current assets 10,151,208 11,074,317
Equipment and leasehold improvements, net 96,160 115,338
Operating lease right-of-use assets 1,624,682 1,720,921
Deferred tax asset, net 2,688,431 2,499,587
Other long-term assets 35,109 35,109
Total assets 14,595,590 15,445,272
Current liabilities:    
Operating lease liabilities – current portion 198,191 194,370
Accounts payable 481,425 406,489
Deferred revenues - current portion 118,007 119,835
Accrued expenses ‐vacation pay, payroll and payroll withholdings 293,348 410,538
Accrued legal damages 6,220,209 6,097,273
Accrued expenses - other 182,390 174,145
Total current liabilities 7,493,570 7,402,650
Operating lease liabilities – long-term 1,426,491 1,526,551
Deferred revenues – long-term 226,297 289,071
Total liabilities 9,146,358 9,218,272
Commitments and contingencies
Stockholders’ equity:    
Preferred stock
Common stock, 7,000,000 shares authorized, par value $0.10 per share, 3,255,887 and 3,255,887 shares issued and outstanding, respectively 325,586 325,586
Additional paid-in capital 6,870,822 7,018,353
Accumulated deficit (6,670,541) (5,960,304)
Total stockholders’ equity 5,449,232 6,227,000
Total liabilities and stockholders’ equity 14,595,590 15,445,272
Series A Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock 3,755,998 3,695,998
Series B Preferred Stock [Member]    
Stockholders’ equity:    
Preferred stock $ 1,167,367 $ 1,147,367