Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEET

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CONSOLIDATED BALANCE SHEET - USD ($)
Dec. 31, 2016
Mar. 31, 2016
Current assets    
Cash and cash equivalents $ 88,540 $ 1,192,119
Accounts receivable 834,777 911,390
Inventory 813,441 434,708
Prepaid expenses 98,716 10,806
Total current assets 1,835,474 2,549,023
Fixed assets - net 1,124,505 1,226,534
Equipment deposits - related party 104,619 0
Total assets 3,064,598 3,775,557
Current liabilities    
Accounts payable 953,588 847,452
Accrued expenses 375,527 251,613
Revolving financing 532,020 475,273
Current portion of capitalized leases 188,303 243,623
Note payable, net of debt discount 0 283,120
Note payable with original issue discount, net of debt discount 0 41,248
Current portion of convertible notes payable, net of debt discount 46,046 0
Derivative liability 3,407 11,143
Total current liabilities 2,098,891 2,153,472
Long-term Liabilities    
Capitalized leases 48,703 95,204
Convertible notes payable, net of debt discount 674,059 0
Total long-term liabilities 722,762 95,204
Total liabilities 2,821,653 2,248,676
Stockholders' equity    
Preferred stock, $0.001 par value, 100,000,000 shares authorized, Series A issued 20,000,000, Series C issued 3,000,000 23,000 23,000
Common stock, $0.001 par value, 200,000,000 shares authorized, 16,030,697 and 14,568,970 shares issued and outstanding at September 30, 2016 and March 31, 2016, respectively 16,029 14,568
Additional paid in capital 22,925,531 21,423,247
Accumulated deficit (22,721,615) (19,933,934)
Total stockholders' equity 242,945 1,526,881
Total liabilities and stockholders' equity $ 3,064,598 $ 3,775,557