v3.26.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2026
Mar. 31, 2025
Current assets:    
Cash $ 29,797,800 $ 11,315,385
Accounts receivable, net of allowance for expected credit losses of $1,441,523 and $387,533 respectively 59,715,676 29,207,028
Inventory 21,259,898 16,240,376
Prepaid expenses and other current assets 1,333,177 976,358
Total current assets 112,106,551 57,739,147
Property and equipment, net of accumulated depreciation of $18,100,243 and $17,028,700 respectively 10,181,328 10,327,245
Intangible assets 4,790,790 5,637,802
Finance lease - right-of-use asset, net of accumulated amortization of $984,801 and $508,470, respectively 1,295,163 1,771,494
Operating lease - right-of-use asset 1,529,468 2,000,284
Deferred income tax asset 7,823,039 18,365,748
Other assets:    
Restricted cash - debt service for NJEDA bonds 471,520 453,776
Security deposits 91,981 91,981
Total other assets 563,501 545,757
Total assets 138,289,840 96,387,477
Current liabilities:    
Accounts payable 6,053,444 2,957,584
Accrued expenses 10,194,222 3,795,227
Deferred revenue 5,556
Bonds payable, current portion, net of bond issuance costs 135,822 125,822
Loans payable, current portion 92,774 120,744
Related party loans payable (Note 8) 4,000,000
Lease obligation - finance lease, current portion 378,775 363,112
Lease obligation - operating lease, current portion 536,427 472,390
Total current liabilities 17,391,464 11,840,435
Long-term liabilities:    
Bonds payable, net of current portion and bond issuance costs 651,559 787,381
Loans payable, net of current portion and loan costs 2,152,969 2,245,743
Lease obligation - finance lease, net of current portion 851,640 1,247,621
Lease obligation - operating lease, net of current portion 1,015,647 1,552,075
Derivative financial instruments - warrants 17,343,586 25,199,193
Total long-term liabilities 22,015,401 31,032,013
Total liabilities 39,406,865 42,872,448
Commitments and Contingencies (Note 9)
Shareholders’ equity:    
Common Stock; par value $0.001; 1,445,000,000 shares authorized; 1,077,196,442 and 1,068,463,108 shares issued as of March 31, 2026 and March 31, 2025, respectively; 1,077,096,442 and 1,068,363,108 shares outstanding as of March 31, 2026 and March 31, 2025, respectively 1,077,200 1,068,467
Additional paid-in capital 173,943,856 173,457,329
Treasury stock; 100,000 shares as of both March 31, 2026 and March 31, 2025, at cost (306,841) (306,841)
Accumulated deficit (75,831,240) (120,703,926)
Total shareholders’ equity 98,882,975 53,515,029
Total liabilities and shareholders’ equity $ 138,289,840 $ 96,387,477